Document:

Exhibit 10.1

 

Execution Copy

 

 

 

FIFTH AMENDED AND RESTATED ABL FIRST
LIEN CREDIT AGREEMENT

 

dated as of

 

February 3, 2020

 

B. RILEY PRINCIPAL MERGER CORP., to be re-named
ALTA EQUIPMENT GROUP INC.,

ALTA EQUIPMENT HOLDINGS, INC.,

ALTA ENTERPRISES, LLC,

ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC,

ALTA HEAVY EQUIPMENT SERVICES, LLC,

ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC,

ALTA CONSTRUCTION EQUIPMENT, L.L.C.,

ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.,

NITCO, LLC

and

ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC,

as Borrowers

 

The Lenders Party Hereto

 

and

 

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

 

 

COMERICA BANK

FIFTH THIRD BANK, NATIONAL ASSOCIATION

PNC BANK, NATIONAL ASSOCIATION

BMO HARRIS BANK N.A.

and

KEYBANK, NATIONAL ASSOCIATION,

as Co-Documentation Agents 

 

 

 

JPMORGAN CHASE BANK, N.A.,

as Sole Bookrunner and Sole Lead Arranger

 

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE I Definitions	 	1
	SECTION 1.01. Defined Terms	 	1
	SECTION 1.02. Classification of Loans and Borrowings	 	41
	SECTION 1.03. Terms Generally	 	42
	SECTION 1.04. Accounting Terms; GAAP	 	42
	SECTION 1.05. Interest Rates; LIBOR Notification	 	43
	SECTION 1.06. Status of Obligations	 	43
	ARTICLE
    II The Credits	 	43
	SECTION
    2.01. Commitments	 	43
	SECTION
    2.02. Loans and Borrowings	 	43
	SECTION
    2.03. Requests for Borrowings	 	44
	SECTION
    2.04. Swingline Loans; Overadvances and Protective Advances	 	45
	SECTION
    2.05. Letters of Credit	 	47
	SECTION
    2.06. Funding of Borrowings	 	51
	SECTION
    2.07. Interest Elections	 	52
	SECTION
    2.08. Termination and Reduction of Commitments	 	53
	SECTION
    2.09. Repayment and Amortization of Loans; Evidence of Debt	 	53
	SECTION
    2.10. Prepayment of Loans	 	54
	SECTION
    2.11. Fees	 	56
	SECTION
    2.12. Interest	 	57
	SECTION
    2.13. Alternate Rate of Interest; Illegality	 	57
	SECTION
    2.14. Increased Costs	 	59
	SECTION
    2.15. Break Funding Payments	 	60
	SECTION
    2.16. Taxes	 	60
	SECTION
    2.17. Payments Generally; Allocation of Proceeds; Sharing of Set-offs	 	64
	SECTION
    2.18. Mitigation Obligations; Replacement of Lenders.	 	66
	SECTION
    2.19. Defaulting Lenders	 	67
	SECTION
    2.20. Appointment of Borrower Representative	 	70
	SECTION
    2.21. Expansion Option	 	70
	SECTION
    2.22. Returned Payments	 	71
	ARTICLE
    III Representations and Warranties	 	71
	SECTION
    3.01. Organization; Powers	 	71
	SECTION
    3.02. Authorization; Enforceability	 	71
	SECTION
    3.03. Governmental Approvals; No Conflicts	 	72
	SECTION
    3.04. Financial Condition; No Material Adverse Change	 	72
	SECTION
    3.05. Properties	 	72
	SECTION
    3.06. Litigation and Environmental Matters	 	72
	SECTION
    3.07. Compliance with Laws and Agreements	 	73
	SECTION
    3.08. Investment Company Status	 	73
	SECTION
    3.09. Taxes	 	73
	SECTION
    3.10. ERISA	 	73
	SECTION
    3.11. Disclosure	 	74
	SECTION
    3.12. Solvency	 	74
	SECTION
    3.13. Security Interest in Collateral	 	74
	SECTION
    3.14. Labor Disputes; Etc.	 	74
	SECTION
    3.15. No Default	 	74
	SECTION
    3.16. Margin Regulations	 	75
	SECTION
    3.17. Subordinated Debt	 	75
	SECTION
    3.18. Anti-Corruption Laws and Sanctions	 	75

 

    i

     

    

 

	SECTION
    3.19. EEA Financial Institutions	 	75
	SECTION
    3.20. Plan Assets; Prohibited Transactions	 	75
	SECTION
    3.21. Material Agreements	 	75
	SECTION
    3.22. Capitalization and Subsidiaries	 	76
	SECTION
    3.23. Use of Proceeds	 	76
	SECTION
    3.24. Affiliate Transactions	 	76
	SECTION
    3.25. Second Lien Transactions	 	76
	SECTION
    3.26. Flagler Acquisition	 	77
	SECTION
    3.27. Liftech Acquisition	 	77
	SECTION
    3.28. Insurance	 	77
	SECTION
    3.29. Common Enterprise	 	78
	SECTION
    3.30. B. Riley Merger/Equity Transactions	 	78
	ARTICLE
    IV Conditions	 	79
	SECTION
    4.01. Effective Date	 	79
	SECTION
    4.02. Each Credit Event	 	82
	ARTICLE
    V Affirmative Covenants	 	82
	SECTION
    5.01. Financial Statements and Other Information	 	82
	SECTION
    5.02. Notices of Material Events	 	87
	SECTION
    5.03. Existence; Conduct of Business	 	88
	SECTION
    5.04. Payment of Obligations	 	88
	SECTION
    5.05. Maintenance of Properties; Insurance	 	88
	SECTION
    5.06. Books and Records; Inspection Rights	 	88
	SECTION
    5.07. Compliance with Laws	 	89
	SECTION
    5.08. Use of Proceeds and Letters of Credit	 	89
	SECTION
    5.09. Collateral Security; Further Assurances	 	89
	SECTION
    5.10. Depository Banks	 	90
	ARTICLE
    VI Negative Covenants	 	91
	SECTION
    6.01. Indebtedness	 	91
	SECTION
    6.02. Liens	 	92
	SECTION
    6.03. Fundamental Changes	 	93
	SECTION
    6.04. Investments, Loans, Advances, Guarantees and Acquisitions	 	93
	SECTION
    6.05. Swap Agreements	 	94
	SECTION
    6.06. Restricted Payments	 	94
	SECTION
    6.07. Transactions with Affiliates	 	94
	SECTION
    6.08. Restrictive Agreements	 	95
	SECTION
    6.09. Change of Name or Location; Change of Fiscal Year	 	95
	SECTION
    6.10. Amendments to Agreements	 	95
	SECTION
    6.11. Prepayment of Indebtedness; Subordinated Debt	 	95
	SECTION
    6.12. Government Regulation	 	96
	SECTION
    6.13. Financial Covenants	 	96
	SECTION
    6.14. Alta Group, Alta Holdings and Alta Enterprises as a Holding Company	 	97
	ARTICLE
    VII Events of Default	 	98
	ARTICLE
    VIII The Administrative Agent	 	100
	SECTION
    8.01. Authorization and Action.	 	100
	SECTION
    8.02. Administrative Agent’s Reliance, Indemnification, Etc.	 	103
	SECTION
    8.03. Posting of Communications	 	104
	SECTION
    8.04. The Administrative Agent Individually	 	105
	SECTION
    8.05. Successor Administrative Agent	 	105
	SECTION
    8.06. Acknowledgements of Lenders and Issuing Banks.	 	106
	SECTION
    8.07. Collateral Matters.	 	107
	SECTION
    8.08. Credit Bidding	 	108

 

    ii

     

    

 

	SECTION
    8.09. Certain ERISA Matters	 	108
	SECTION
    8.10. Flood Laws	 	110
	ARTICLE
    IX Miscellaneous	 	110
	SECTION
    9.01. Notices	 	110
	SECTION
    9.02. Waivers; Amendments	 	111
	SECTION
    9.03. Expenses; Indemnity; Damage Waiver	 	114
	SECTION
    9.04. Successors and Assigns	 	116
	SECTION
    9.05. Survival	 	119
	SECTION
    9.06. Counterparts; Integration; Effectiveness	 	119
	SECTION
    9.07. Severability	 	120
	SECTION
    9.08. Right of Setoff	 	120
	SECTION
    9.09. Governing Law; Jurisdiction; Consent to Service of Process	 	120
	SECTION
    9.10. WAIVER OF JURY TRIAL	 	121
	SECTION
    9.11. Headings	 	121
	SECTION
    9.12. Confidentiality	 	122
	SECTION
    9.13. Several Obligations; Nonreliance; Violation of Law	 	122
	SECTION
    9.14. USA PATRIOT Act	 	122
	SECTION
    9.15. Interest Rate Limitation	 	122
	SECTION
    9.16. Disclosure	 	122
	SECTION
    9.17. Dealer Access System	 	123
	SECTION
    9.18. Appointment for Perfection	 	123
	SECTION
    9.19. Amendment and Restatement.	 	123
	SECTION
    9.20. Marketing Consent	 	124
	SECTION
    9.21. Acknowledgement and Consent to Bail-In of EEA Financial Institutions	 	124
	SECTION
    9.22. No Fiduciary Duty, etc	 	125
	SECTION
    9.23 Acknowledgement Regarding Any Supported QFCs	 	126

 

    iii

     

    

 

SCHEDULES:

Commitment
Schedule

 

	Schedule
    2.06	Existing
    Letters of Credit 
	Schedule
    3.05	Loan
    Parties
	Schedule
    3.06	Disclosed
    Matters
	Schedule
    3.17	Subordinated
    Debt Documents
	Schedule
    3.21	Material
    Agreements
	Schedule
    3.22	Capitalization
    and Subsidiaries
	Schedule
    3.25	Second
    Lien Notes Documents
	Schedule
    3.28	Insurance
    
	Schedule
    3.30	B.
    Riley Merger/Equity Transactions
	Schedule
    6.01	Existing
    Indebtedness
	Schedule
    6.02	Existing
    Liens
	Schedule
    6.04	Existing
    Investments
	Schedule
    6.13(a)	Fixed
    Charge Coverage Ratio Amounts

 

EXHIBITS:

 

	Exhibit
    A	Form
    of Assignment and Assumption
	Exhibit
    B	Form
    of Second Lien Intercreditor Agreement
	Exhibit
    C-1	U.S.
    Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit
    C-2	U.S.
    Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit
    C-3	U.S.
    Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit
    C-4	U.S.
    Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

 

    iv

     

    

 

This
Fifth Amended and Restated ABL First Lien Credit Agreement, dated as of February 3, 2020 (as it may be amended or modified from
time to time, this “Agreement”), is among B. RILEY PRINCIPAL MERGER CORP., to be re-named ALTA EQUIPMENT GROUP
INC., a Delaware corporation, ALTA EQUIPMENT HOLDINGS, INC., a Michigan corporation, Alta Enterprises, LLC, a Michigan limited
liability company, ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC, a Michigan limited liability company, ALTA HEAVY EQUIPMENT SERVICES,
LLC, a Michigan limited liability company, ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC, a Michigan limited liability company, ALTA
CONSTRUCTION EQUIPMENT, L.L.C., a Michigan limited liability company, ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C., a Michigan limited
liability company, NITCO, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC, a Michigan limited
liability company, the Lenders party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent.

 

R
E C I T A L S

 

A. The
borrowers (including the Borrowers hereto, as successors or assigns thereof) party thereto, the lenders party thereto and the
Administrative Agent are party to that certain Fourth Amended and Restated First Lien Credit Agreement dated as of May 1, 2019,
which amended and restated that certain Third Amended and Restated First Lien Credit Agreement dated as of December 27, 2017,
which amended and restated that certain Second Amended and Restated Credit Agreement dated as of September 30, 2016, which amended
and restated that certain Amended and Restated Credit Agreement dated as of December 28, 2012, and which amended and restated
that certain Credit Agreement dated as of May 5, 2011 (as amended, the “Existing Credit Agreement”).

 

B. The
Borrowers party hereto, the Lenders party hereto and the Administrative Agent wish to amend and restate the Existing Credit Agreement
on the terms and conditions set forth below to reallocate the existing Commitments and make the other changes to the Existing
Credit Agreement evidenced hereby.

 

C. The
financial institutions party hereto which are not Lenders under the Existing Credit Agreement wish to become “Lenders”
hereunder and accept and assume the obligations of “Lenders” hereunder with the Commitments and other obligations
specified herein.

 

NOW,
THEREFORE, in consideration of the premises and of the mutual agreements made herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Existing Credit Agreement is amended
and restated in its entirety (as specified in Section 9.19) as follows:

 

ARTICLE
I Definitions

 

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

 

“Account”
has the meaning assigned to such term in the Security Agreements.

 

“Account
Debtor” means any Person obligated on an Account.

 

“Acquisition”
means any transaction, or any series of related transactions, consummated on or after the date of this Agreement, by which any
Loan Party (i) acquires any going business or all or substantially all of the assets of any firm, corporation or limited liability
company, or division thereof, whether through purchase of assets, merger or otherwise or (ii) directly or indirectly acquires
(in one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of
the Equity Interests of a Person.

 

    1

     

    

 

“Adjusted
LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period or for any CBFR Borrowing, an interest
rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied
by (b) the Statutory Reserve Rate.

 

“Adjusted
One Month LIBOR Rate” means, for any day, an interest rate per annum equal to the sum of (i) 2.50% plus (ii) the Adjusted
LIBO Rate for a one (1)-month interest period on such day (or if such day is not a Business Day, the immediately preceding Business
Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate at
approximately 11:00 a.m. London time on such day; provided further, that, if the LIBO Screen Rate at such time shall be less than
zero, such rate shall be deemed to be zero for purposes of this Agreement.

 

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

 

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

 

“Affiliate”
means, at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and, with respect to any Borrower,
shall include any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity
interests of such Borrower or any Subsidiary or any Person of which such Borrower and its Subsidiaries beneficially own or hold, in
the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests.

 

“Agent
Indemnitee” has the meaning assigned to it in Section 9.03(c).

 

“Alta
Construction Equipment Florida” means Alta Construction Equipment Florida, LLC, a Michigan limited liability
company.

 

“Alta
Enterprises” means Alta Enterprises, LLC, a Michigan limited liability company.

 

“Alta
Group” means B. Riley Principal Merger Corp., a Delaware corporation, to be re-named Alta Equipment Group Inc. on the
Effective Date.

 

“Alta
Holdings” means Alta Equipment Holdings, Inc., a Michigan corporation.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to a Borrower or its Subsidiaries from time
to time concerning or relating to bribery or corruption.

 

    2

     

    

 

“Applicable
Margin” means, for any day, with respect to Revolving Credit Loans that are CBFR Loans, Revolving Credit Loans that are
Eurodollar Loans, Letter of Credit Fees payable under Section 2.11(b)(i) and commitment fees payable under Section 2.11(a) hereunder,
as the case may be, the applicable rate per annum set forth below under the applicable caption, as the case may be, based upon
the Average Quarterly Availability during the most recently ended Fiscal Quarter of Alta Group:

 

	Level	 	Average Quarterly Availability	 	Applicable Margin – CBFR Loans	 	Applicable Margin – Adjusted Eurodollar 
Loans and Letter of Credit Fees	 	Applicable Margin – Commitment Fees
	I	 	< $25,000,000	 	- 25.0 bps	 	225.0 bps	 	25.0 bps
	II	 	≥ $25,000,000 
but < $100,0000,000	 	- 50.0 bps	 	200.0 bps	 	25.0 bps
	III	 	≥ $100,000,000	 	- 75.0 bps	 	175.0 bps	 	25.0 bps

 

For
purposes of the foregoing, each change in the Applicable Margin resulting from a change in Average Quarterly Availability
shall be effective during the period commencing on and including the first day of each Fiscal Quarter of Alta Group and ending
on the last day of such Fiscal Quarter, it being understood and agreed that, for purposes of determining the Applicable Margin
on the first day of any Fiscal Quarter of Alta Group, the Average Quarterly Availability during the most recently ended Fiscal
Quarter of Alta Group shall be used. Notwithstanding the foregoing, the Average Quarterly Availability shall be deemed to be in
Level I at the option of the Administrative Agent or at the request of the Required Lenders if the Borrowers fail to deliver any
Borrowing Base Certificate or related information required to be delivered by them pursuant to Section 5.01, during the period
from the expiration of the time for delivery thereof until each such Borrowing Base Certificate and related information is so
delivered. Notwithstanding anything herein to the contrary, the Applicable Margin shall be set at Level II as of the Effective
Date and shall be adjusted for the first time thereafter based on the Average Quarterly Availability for the Fiscal Quarter ending
March 31, 2020.

 

If
at any time the Borrowers or the Administrative Agent determines that the Borrowing Base Certificate or related information upon
which the Average Quarterly Availability was determined were incorrect (whether based on a restatement, fraud or otherwise), the
Borrowers shall be required to immediately (or, in the case of a determination made by the Administrative Agent, immediately following
the Administrative Agent’s demand therefor (provided, after the occurrence of an actual or deemed entry of an order for
relief with respect to any Borrower under any bankruptcy or similar law, automatically and without further action by the Administrative
Agent)) and retroactively pay any additional amount that the Borrowers would have been required to pay if such financial statements
had been accurate at the time they were delivered.

 

“Applicable
Percentage” means, with respect to any Lender, (a) with respect to Revolving Loans, LC Exposure, Overadvances or Swingline
Loans, a percentage equal to a fraction the numerator of which is such Lender’s Revolving Commitment and the denominator
of which is the aggregate Revolving Commitment of all Lenders (if the Revolving Commitments have terminated or expired, the Applicable
Percentages shall be determined based upon such Lender’s share of the aggregate Revolving Exposures most recently in effect,
giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination); provided
that in the case of Section 2.19 when a Defaulting Lender shall exist, “Applicable Percentage” under this clause (a)
shall mean the percentage of the total Revolving Commitments (disregarding any Defaulting Lender’s Revolving Commitment)
represented by such Lender’s Revolving Commitment, and (b) with respect to Protective Advances, a percentage equal to a
fraction the numerator of which is such Lender’s aggregate Credit Exposure and unused Commitments and the denominator of
which is the aggregate Credit Exposure and unused Commitments of all Lenders; provided that in the case of Section 2.19 when a
Defaulting Lender shall exist, “Applicable Percentage” under this clause (b) shall mean the percentage of the total
Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitments.

 

    3

     

    

 

“Approved
Electronic Platform” has the meaning assigned to it in Section 8.03(a).

 

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

 

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

 

“Augmenting
Lender” has the meaning assigned to such term in Section 2.21(a).

 

“Available
Revolving Commitment” means, at any time, the aggregate Revolving Commitment of all Lenders then in effect minus
the aggregate Revolving Exposure of all Lenders at such time (calculated, with respect to any Defaulting Lender, as if
such Defaulting Lender had funded its Applicable Percentage of all outstanding Borrowings).

 

“Availability”
means, at any time, an amount equal to (a) the lesser of (i) the aggregate Revolving Commitment of all Lenders and (ii) the Revolving
Borrowing Base, minus (b) the aggregate Revolving Exposure of all Lenders (calculated, with respect to any Defaulting
Lender, as if such Defaulting Lender had funded its Applicable Percentage of all outstanding Borrowings).

 

“Average
Quarterly Availability” means, for any Fiscal Quarter of Alta Group, an amount equal to the average daily Availability
during such Fiscal Quarter (or, for the Fiscal Quarter ending March 31, 2020, for the period from and including the Effective
Date through March 31, 2020), as determined by the Administrative Agent’s system of records; provided, that in order
to determine Availability on any day for purposes of this definition, the Revolving Borrowing Base for such day shall be determined
by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01 as of
such day.

 

“B.
Riley Merger/Equity Transaction Agreements” means the agreements listed on Schedule 3.30 as the B. Riley Merger/Equity
Transaction Agreements.

 

“B.
Riley Merger/Equity Transactions” means the transactions described on Schedule 3.30.

 

“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.

 

“Banking
Services” means each and any of the following bank services provided to any Loan Party by any Lender or any of its Affiliates:
(a) credit cards for commercial customers (including, without limitation, “commercial credit cards” and purchasing
cards), (b) stored value cards, (c) merchant processing services, and (d) treasury management services (including, without limitation,
controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services).

 

“Banking
Services Obligations” means any and all obligations of any Loan Party (including interest and fees accruing during the
pendency of any bankruptcy, insolvency, receivership or other similar proceedings, regardless of whether allowed or allowable
in such proceeding), whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including
all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking Services.

 

    4

     

    

 

“Banking
Services Reserves” means all Reserves which the Administrative Agent from time to time establishes in its Permitted
Discretion for Banking Services then provided or outstanding.

 

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

 

“Bankruptcy
Event” means, with respect to any Person, when such Person becomes the subject of a voluntary or involuntary bankruptcy
or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors
or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence
in, any such proceeding or appointment, or has had any order for relief in such proceeding entered in respect thereof, provided
that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest,
in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not
result in or provide such Person with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments
or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate,
disavow or disaffirm any contracts or agreements made by such Person.

 

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

 

“Benchmark
Replacement Adjustment” means the spread adjustment, or method for calculating or determining such spread adjustment,
(which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower Representative
giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark Replacement by the Relevant
Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method
for calculating or determining such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated syndicated credit facilities at such time (for the avoidance of doubt, such Benchmark
Replacement Adjustment shall not be in the form of a reduction to the Applicable Margin).

 

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

 

    5

     

    

 

“Benchmark
Replacement Date” means the earlier to occur of the following events with respect to the LIBO Rate:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Benchmark
Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the LIBO Rate and solely to the extent that the LIBO Rate has not been replaced with a Benchmark Replacement,
the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement
has replaced the LIBO Rate for all purposes hereunder in accordance with Section 2.13 and (y) ending at the time that a Benchmark
Replacement has replaced the LIBO Rate for all purposes hereunder pursuant to Section 2.13.

 

    6

     

    

 

“Beneficial
Owner” means, with respect to any U.S. federal withholding Tax, the beneficial owner, for U.S. federal income tax purposes,
to whom such Tax relates.

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership or control as required by the Beneficial
Ownership Regulation.

 

“Beneficial
Ownership Regulation” means 31 C.F.R. § 1010.230.

 

“Benefit
Plan” means any of (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject
to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies,
and (c) any Person whose assets include (for purposes of the Plan Asset Regulations 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”.

 

“BHC
Act Affiliate” of a party mean an "affiliate" (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party.

 

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

 

“Board
of Directors” means: (1) with respect to a corporation, the board of directors of the corporation or such directors
or committee serving a similar function; (2) with respect to a limited liability company, the board of managers of the company
or such managers or committee serving a similar function; (3) with respect to a partnership, the Board of Directors of the general
partner of the partnership; and (4) with respect to any other Person, the managers, directors, trustees, board or committee of
such Person or its owners serving a similar function.

 

“Borrower
Representative” means Alta Group in its capacity as representative of the Borrowers as set forth in Section 2.20.

 

“Borrowers”
means Alta Group and its Subsidiaries.

 

“Borrowing”
means (a) Revolving Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans,
as to which a single Interest Period is in effect, (b) a Swingline Loan, (c) a Protective Advance and (d) an Overadvance.

 

“Borrowing
Base Certificate” means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrowers,
in form and substance acceptable to the Administrative Agent in its sole discretion.

 

“Borrowing
Request” means a request for a Borrowing under Section 2.03.

 

“Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in Detroit, Chicago or New
York are generally authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar
Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar
deposits in the London interbank market.

 

    7

     

    

 

“Capital
Expenditures” means, without duplication, any expenditure or commitment to expend money for any purchase or other acquisition
of any asset which would be classified as a fixed or capital asset, including without limitation leasehold improvements, but excluding
new, used or parts inventory, on a consolidated balance sheet of Alta Group and its Subsidiaries prepared in accordance with GAAP.
For purposes of calculating the Fixed Charge Coverage Ratio, such expenditures will be reduced by the sum of (a) the net book
value with respect to any sale of any fixed or capital assets (excluding new, used, and parts inventory) and (b) any piece of
rental equipment financed via either Loans, Floor Plan Loans or any other floorplan line (up to the value advanced on such asset
thereunder), in each case (both clauses (a) and (b)) as determined by the Administrative Agent in its Permitted Discretion.

 

“Capital
Lease” means any lease of property, real or personal, the obligations with respect to which are required to be capitalized
on a balance sheet of the lessee in accordance with GAAP.

 

“Capital
Lease Obligations” means the aggregate principal component of capitalized lease obligations relating to a Capital Lease
determined in accordance with GAAP.

 

“Cash
Common Equity” is defined in Section 3.30.

 

“Cash
Dominion Period” means each period commencing on the day on which Availability, as calculated by the Administrative
Agent (which calculation shall be deemed correct absent manifest error) is less than 10.0% of the aggregate Revolving Commitment
of all Lenders, and ending on the day on which Availability, as calculated by the Administrative Agent (which calculation shall
be deemed correct absent manifest error) is equal to or greater than 10.0% of the aggregate Revolving Commitment of all Lenders
for thirty (30) consecutive days.

 

"CB
Floating Rate" means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month
LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating
Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective
date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

 

“CBFR”,
when used in reference to: (a) a rate of interest, refers to the CB Floating Rate, and (b) any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the CB Floating Rate.

 

“Change
in Control” means any of the following:

 

(a)
 the acquisition of ownership, directly or indirectly, beneficially or of record, by
any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in effect
on the date hereof) other than Permitted Investors, of Equity Interests representing more than 35% of the aggregate ordinary voting
power represented by the issued and outstanding Equity Interests of Alta Group;

 

(b)
occupation at any time of a majority of the seats (other than vacant seats) on the board of directors of Alta Group by Persons
who were not (i) directors of Alta Group on the date of this Agreement or nominated or appointed by the board of directors of
Alta Group or (ii) appointed by directors so nominated or appointed;

 

(c)
the acquisition of direct or indirect Control of Alta Group by any Person or group other than Permitted Investors;

 

    8

     

    

 

(d)
Alta Group shall fail to own and control, directly, beneficially and of record, Equity Interests representing 100% of each of
the aggregate ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of Alta
Holdings;

 

(e) Alta
Group and Alta Holdings shall fail to own, directly, beneficially and of record, Equity Interests representing 100% of each of
the aggregate ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of Alta
Enterprises;

 

(f) Alta
Enterprises shall fail to own, directly or indirectly, beneficially and of record, Equity Interests representing 100% of each
of the aggregate ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of
each other Borrower (other than Alta Group and Alta Holdings); or

 

(g) any
“change in control” (or any comparable term) under any Second Lien Notes Document or Floor Plan Loan Document or any
other event that would require or permit the Second Lien Purchasers or Floor Plan Lenders or any of them to require an acceleration
or prepayment of the Second Lien Obligations or the Floor Plan Obligations, as applicable.

 

"Change
in Law" means the occurrence, after the date of this Agreement (or with respect to any Lender, if later, the date on
which such Lender becomes a Lender), of any of the following: (a) the adoption or taking effect of any law, rule, regulation or
treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority, or (c) the making or issuance of any request, rules, guideline, requirement or directive
(whether or not having the force of law) by any Governmental Authority; provided however, that notwithstanding anything herein
to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements
and directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines,
requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor or similar authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III (i.e.,
the Third Basel Accord agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11), shall in each
case be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or implemented.

 

“Charges”
has the meaning assigned to such term in Section 9.15.

 

“Class”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving
Loans, Protective Advances, Overadvances or Swingline Loans.

 

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

 

“Collateral”
means any and all present or future personal property or material real property owned, leased or operated by a Person, which property
is covered by the Collateral Documents and any and all other property of any Loan Party, now existing or hereafter acquired, that
may at any time be or become subject to a security interest or Lien in favor of Administrative Agent, on behalf of itself and
the Secured Parties, to secure the Secured Obligations.

 

“Collateral
Documents” means, collectively, the Security Agreements, any Mortgages, the Loan Party Guaranties, the Subordination
Agreements, the Intercreditor Agreements and all other agreements, instruments and documents executed in connection with this
Agreement at any time (either before, concurrently or after the Effective Date, and including without limitation any of the foregoing
delivered in connection with the Existing Credit Agreement) that are intended to create or evidence Liens to secure, Guarantees
of, or subordinations to, all or any part of the Secured Obligations, including, without limitation, all other security agreements,
pledge agreements, pledge and security agreements, pledges, powers of attorney, guaranties, subordination agreements, consents,
assignments, contracts, leases, and financing statements, all as amended or otherwise modified from time to time.

 

    9

     

    

 

“Collection
Account” has the meaning assigned to such term in the Security Agreement.

 

“Commitment”
means, with respect to each Lender, the sum of such Lender’s Revolving Commitment and any other commitments, if any are
established pursuant to any amendment hereto at any time. The initial amount of each Lender’s Commitment is set forth on
the Commitment Schedule, or in the Assignment and Assumption or other documentation or record (as such term is defined
in Section 9-102(a)(70) of the New York Uniform Commercial Code) as provided in Section
9.04(b)(ii)(C), pursuant to which such Lender shall have assumed its Commitment, as applicable.

 

“Commitment
Schedule” means the Schedule attached hereto identified as such.

 

“Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor
statute.

 

“Communications”
has the meaning assigned to such term in Section 9.01(d)(ii).

 

“Compounded
SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for
this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as
a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative
Agent in accordance with:

 

		(1)	the
                                         rate, or methodology for this rate, and conventions for this rate selected or recommended
                                         by the Relevant Governmental Body for determining compounded SOFR; provided that:

 

		(2)	if,
                                         and to the extent that, the Administrative Agent determines that Compounded SOFR cannot
                                         be determined in accordance with clause (1) above, then the rate, or methodology for
                                         this rate, and conventions for this rate that the Administrative Agent determines in
                                         its reasonable discretion are substantially consistent with any evolving or then-prevailing
                                         market convention for determining compounded SOFR for U.S. dollar-denominated syndicated
                                         credit facilities at such time;

 

provided,
further, that if the Administrative Agent decides that any such rate, methodology or convention determined in accordance
with clause (1) or clause (2) is not administratively feasible for the Administrative Agent, then Compounded SOFR will be deemed
unable to be determined for purposes of the definition of “Benchmark Replacement.”

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

    10

     

    

 

"Consolidated
EBITDA" means, with reference to any period, the Net Income for such period, and plus (a) to the extent reducing such
Net Income, (i) Interest Expense, (ii) expense for income taxes, (iii) depreciation, (iv) amortization, (v) any non-cash
charges for such period (but excluding (1) any non-cash charge that results from the write-down or write-off of accounts receivable
or that is in respect of any other item that was included in Net Income in a prior period, (2) any non-cash charge that relates
to the write-down or write-off of inventory or equipment, any additions to bad debt reserves or bad debt expense and (3) any non-cash
charge to the extent it represents an accrual of or a reserve for cash expenditures in any future period), (vi) any reasonable
non-recurring fees, cash charges and other cash expenses made or incurred in connection with (1) the Transactions (including one-time
transaction bonuses) in an aggregate amount not to exceed $25,000,000.00 incurred prior to or within nine months after the Effective
Date, or (2) any amendments, restatements, supplements, waivers or other modifications to the Loan Documents, Floor Plan Loan
Documents, or the Second Lien Notes Documents, (vii) losses deducted during the specified period, but only to the extent proceeds
of insurance (including, without limitation, business interruption insurance) or indemnity recovery are actually received during
such period, (viii) reasonable transaction expenses and fees for such period with respect to with respect to Permitted Acquisitions
consummated or sought but not consummated by any Loan Party, (ix) Pro Forma EBITDA attributable to any Permitted Acquisition, (x)
reasonable expenses and fees incurred during the specified period in connection with the administration of the Loan Documents,
the Floor Plan Loan Documents and the Second Lien Notes Documents after the Effective Date (including in all cases expenses and
fees paid to the Administrative Agent and/or the Lenders), (xi) fees and expenses during the specified period which are directly
related to any proposed or actual issuance of debt or equity or asset dispositions, in each case permitted under this Agreement,
(xii) (1) any extraordinary or non-recurring losses in the aggregate in any period of twelve consecutive months not to exceed
the result of (1) 10% of Consolidated EBITDA, less (2) any noncash gains or losses on the sale of fixed or capital assets offset
for gains from the sale of fixed or capital assets calculated (x) at the price at which the applicable Loan Party sold the applicable
asset, minus (y) such Note Party’s initial purchase price of such asset (for the avoidance of doubt, without reducing this
clause (y) for any depreciation or amortization thereof), for such twelve consecutive months (prior to giving effect to this clause
(xii)(1)) or (2) other non-recurring charges, costs and expenses incurred during such period approved by the Administrative Agent
in its reasonable discretion (not to be unreasonably withheld, conditioned or delayed), and (xiii) one-time GAAP adjustments related
to the B. Riley Merger/Equity Transactions in an aggregate amount not to exceed $35,000,000, minus (b) without duplication and
to the extent included in Net Income, (i) any cash payments made during such period in respect of non-cash charges described in
clause (a)(v) taken in a prior period and (ii) any non-cash items of income for such period, all calculated for Alta Group and
its Subsidiaries on a consolidated basis.

 

“Consolidated
First Lien Debt” means, as of any date, the Consolidated Total Debt of Alta Group and its Subsidiaries, excluding (a)
the aggregate outstanding amount of the Second Lien Notes at such time and (b) the aggregate outstanding amount of Subordinated
Debt at such time.

 

“Consolidated
Second Lien Note Coverage Ratio” means, as of any date, the ratio of (a) Consolidated Total Assets less Consolidated
First Lien Debt as of such date to (b) the aggregate outstanding amount of the Second Lien Notes as of such date.

 

“Consolidated
Total Assets” means, as of any date, (a) the sum of the Net Book Value of each of the following, without duplication,
as of such date (i) accounts receivable, net of allowance for doubtful accounts, plus (ii) parts inventory, net of reserves, plus
(iii) work in process, net of reserves, plus (iv) equipment inventories (i.e., equipment held for sale or rental under the new,
used, and rental categories on the balance sheet of Alta Group and its Subsidiaries), net of depreciation, plus (v) fixed assets
(i.e. property plant and equipment) net of depreciation, less (b) the sum of the following as of such date (i) the value of promotional
Indebtedness owing to vendors that is interest free and has no required payments and is otherwise on terms acceptable to the Administrative
Agent, plus (ii) Showroom Ready Debt, all as set forth in the most recently delivered financial statements of Alta Group and its
Subsidiaries.

 

“Consolidated
Total Debt” means, as of any date, the Indebtedness of Alta Group and its Subsidiaries on a consolidated basis, excluding
(a) promotional Indebtedness owing to vendors that is interest free and has no required payments and is otherwise on terms acceptable
to the Administrative Agent, and (b) Showroom Ready Debt which is not in curtailment.

 

    11

     

    

 

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

 

“Controlled
Disbursement Account” means, collectively, the following the accounts or accounts identified by the Administrative Agent
as the Controlled Disbursement Account, and any replacement or additional accounts of the Borrowers maintained with the Administrative
Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative
Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and
any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

 

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

 

“Credit
Exposure” means, as to any Lender at any time, such Lender’s Revolving Exposure at such time.

 

“Credit
Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

 

“Covered
Entity” means any of the following:

 

		(i)	a
                                         “covered entity” as that term is defined in, and interpreted in accordance
                                         with, 12 C.F.R. § 252.82(b);
	 	 	 

		(ii)	a
                                         “covered bank” as that term is defined in, and interpreted in accordance
                                         with, 12 C.F.R.§ 47.3(b); or
	 	 	 

		(iii)	a
                                         “covered FSI” as that term is defined in, and interpreted in accordance with,
                                         12 C.F.R.§ 382.2(b).

 

“Covered
Party” has the meaning assigned to it in Section 9.23.

 

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

 

“Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§
252.81, 47.2 or 382.1, as applicable.

 

“Defaulting
Lender” means any Lender that (a) has failed, within two (2) Business Days of the date required to be funded or paid,
to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii)
pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such
Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination
that a condition precedent (specifically identified and including the particular default, if any) to funding a Loan under this
Agreement has not been satisfied, (b) has notified any Borrower or any Credit Party in writing, or has made a public statement
to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such
writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition
precedent (specifically identified and including the particular default, if any) to funding a Loan under this Agreement cannot
be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three (3) Business
Days after request by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of
such Lender that it will comply with its obligations (and is financially able to meet such obligations as of the date of certification)
to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement, provided
that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such
certification in form and substance satisfactory to it and the Administrative Agent, or (d) has become the subject of a (i) Bankruptcy
Event or (ii) a Bail-In Action.

 

    12

     

    

 

“Departing
Lender” has the meaning assigned to such term in Section 2.18(b).

 

“Disclosed
Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (in one transaction or in a series
of transactions and whether effected pursuant to a Division or otherwise) of any property by any Person (including any sale and
leaseback transaction and any issuance of Equity Interests by a Subsidiary of such Person), including any sale, assignment, transfer
or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

 

"Disqualified
Equity" means any Equity Interest that, by its terms (or by the terms of any security into which it is convertible or
for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part.

 

“Dividing
Person” has the meaning assigned to it in the definition of “Division.”

 

“Division”
means the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among
two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include
the Dividing Person and pursuant to which the Dividing Person may or may not survive.

 

“Division
Successor” means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any portion
of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of
such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division shall be deemed
a Division Successor upon the occurrence of such Division.

 

“dollars”
or “$” refers to lawful money of the U.S.

 

“Early
Opt-in Election” means the occurrence of:

 

(1)
(i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent (with
a copy to the Borrower) that the Required Lenders have determined that U.S. dollar-denominated syndicated credit facilities being
executed at such time, or that include language similar to that contained in Section 2.13 are being executed or amended, as applicable,
to incorporate or adopt a new benchmark interest rate to replace the LIBO Rate, and

 

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

 

    13

     

    

  

“ECP”
means an “eligible contract participant” as defined in Section 1(a)(18) of the Commodity Exchange Act or any regulations
promulgated thereunder and the applicable rules issued by the Commodity Futures Trading Commission and/or the SEC.

 

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

 

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

 

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

 

“Effective
Date” means the date upon which all of the conditions set forth in Article IV are satisfied; provided, that such conditions
are satisfied on or before February 14, 2020.

 

“Electronic
Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record
and adopted by a Person with the intent to sign, authenticate or accept such contract or record.

 

“Electronic
System” means any electronic system, including e-mail, e-fax, web portal access for the Borrowers and any other Internet
or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent or the Issuing
Bank and any of its respective Related Parties or any other Person, providing for access to data protected by passcodes or other
security system.

 

“Eligible
Accounts” means, at any time, the Accounts of a Borrower which the Administrative Agent determines in its Permitted
Discretion are eligible as the basis for the extension of Revolving Loans, Swingline Loans and the issuance of Letters of Credit
hereunder. Without limiting the Administrative Agent’s discretion provided herein, Eligible Accounts shall not include any
Account:

 

(a) which
is not subject to a first priority perfected security interest in favor of the Administrative Agent;

 

(b) which
is subject to any Lien other than (i) a Lien in favor of the Administrative Agent or the Floor Plan Administrative Agent, (ii)
a Lien in favor of Second Lien Notes Representative, subject to the Second Lien Intercreditor Agreement, and (iii) a Permitted
Encumbrance which does not have priority over the Lien in favor of the Administrative Agent; provided that Accounts relating to
Floor Plan Priority Collateral shall not be Eligible Accounts;

 

(c) (i)
with respect to which the scheduled due date is more than 90 days after the date of the original invoice therefor, (ii) which
is unpaid more than 90 days after the date of the original invoice therefor or more than 60 days after the original due date therefor,
or (iii) which has been written off the books of a Borrower or otherwise designated as uncollectible;

 

    14

     

    

 

(d) which
is owing by an Account Debtor for which more than 50% of the Accounts owing from such Account Debtor and its Affiliates are ineligible
hereunder;

 

(e) which
is owing by an Account Debtor to the extent the aggregate amount of Accounts owing from such Account Debtor and its Affiliates
to (i) such Borrower exceeds 25% of the aggregate amount of Eligible Accounts of such Borrower or (ii) all Borrowers exceeds 25%
of the aggregate amount of Eligible Accounts of all Borrowers;

 

(f) with
respect to which any covenant, representation, or warranty contained in this Agreement or in any Security Agreement has been breached
or is not true;

 

(g) which
(i) does not arise from the sale of goods or performance of services in the ordinary course of business, (ii) is not evidenced
by an invoice or other documentation satisfactory to the Administrative Agent which has been sent to the Account Debtor, (iii)
represents a progress billing, (iv) is contingent upon any Borrower’s completion of any further performance or is billed
in advance of the relevant shipment of inventory or performance of service, (v) represents a sale on a bill-and-hold, guaranteed
sale, sale-and-return, sale on approval, consignment, cash-on-delivery or any other repurchase or return basis or (vi) relates
to payments of interest;

 

(h) for
which the goods giving rise to such Account have not been shipped to the Account Debtor or for which the services giving rise
to such Account have not been performed by such Loan Parties or if such Account was invoiced more than once;

 

(i) with
respect to which any check or other instrument of payment has been returned uncollected for any reason;

 

(j) which
is owed by an Account Debtor which has (i) applied for, suffered, or consented to the appointment of any receiver, custodian,
trustee, or liquidator of its assets, (ii) has had possession of all or a material part of its property taken by any receiver,
custodian, trustee or liquidator, (iii) filed, or had filed against it, any request or petition for liquidation, reorganization,
arrangement, adjustment of debts, adjudication as bankrupt, winding-up, or voluntary or involuntary case under any state or federal
bankruptcy laws, (iv) has admitted in writing its inability, or is generally unable to, pay its debts as they become due, (v)
become insolvent, or (vi) ceased operation of its business;

 

(k) which
is owed by any Account Debtor which has sold all or a substantially all of its assets;

 

(l) which
is owed by an Account Debtor which (i) does not maintain its chief executive office in the U.S. or Canada or (ii) is not organized
under applicable law of the U.S., any state of the U.S., Canada, or any province of Canada unless, in either case, such Account
is backed by a Letter of Credit acceptable to the Administrative Agent which is in the possession of, has been assigned to and
is directly drawable by the Administrative Agent;

 

(m) which
is owed in any currency other than U.S. dollars;

 

(n) which
is owed by (i) any government (or any department, agency, public corporation, or instrumentality thereof) of any country other
than the U.S. unless such Account is backed by a Letter of Credit acceptable to the Administrative Agent which is in the possession
of, and is directly drawable by, the Administrative Agent, or (ii) any government of the U.S., or any department, agency, public
corporation, or instrumentality thereof, unless the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727
et seq. and 41 U.S.C. § 15 et seq.), and any other steps necessary to perfect the Lien of the Administrative Agent in such
Account have been complied with to the Administrative Agent’s satisfaction;

 

    15

     

    

 

(o) which
is owed by any Affiliate, employee, officer, director, agent or stockholder of any Loan Party;

 

(p) which
is owed by an Account Debtor or any Affiliate of such Account Debtor to which any Loan Party is indebted, but only to the extent
of such indebtedness or is subject to any security, deposit, progress payment, retainage or other similar advance made by or for
the benefit of an Account Debtor, in each case to the extent thereof;

 

(q) which
is subject to any counterclaim, deduction, defense, setoff or dispute but only to the extent of any such counterclaim, deduction,
defense, setoff or dispute;

 

(r) which
is evidenced by any promissory note, chattel paper, or instrument;

 

(s) which
is owed by an Account Debtor (i) located in any jurisdiction which requires filing of a “Notice of Business Activities Report”
or other similar report in order to permit such Borrower to seek judicial enforcement in such jurisdiction of payment of such
Account, unless such Borrower has filed such report or qualified to do business in such jurisdiction or (ii) which is a Sanctioned
Person;

 

(t) with
respect to which such Borrower has made any agreement with the Account Debtor for any reduction thereof, other than discounts
and adjustments given in the ordinary course of business, or any Account which was partially paid and such Borrower created a
new receivable for the unpaid portion of such Account;

 

(u) which
does not comply in all material respects with the requirements of all applicable laws and regulations, whether Federal, state
or local, including without limitation the Federal Consumer Credit Protection Act, the Federal Truth in Lending Act and Regulation
Z of the Board;

 

(v) which
is for goods that have been sold under a purchase order or pursuant to the terms of a contract or other agreement or understanding
(written or oral) that indicates or purports that any Person other than such Borrower has or has had (other than any ownership
interest prior to such Eligible Accounts being purchased by such Borrower as part of an Acquisition) an ownership interest in
such goods, or which indicates any party other than such Borrower as payee or remittance party;

 

(w) which
has been acquired from a Sanctioned Person;

 

(x) which
was created on cash on delivery terms; or

 

(y) which
the Administrative Agent determines may not be paid by reason of the Account Debtor’s inability to pay or which the Administrative
Agent otherwise determines is unacceptable for any reason whatsoever.

 

In
the event that an Account which was previously an Eligible Account ceases to be an Eligible Account hereunder, such Borrower shall
notify the Administrative Agent thereof on and at the time of submission to the Administrative Agent of the next Borrowing Base
Certificate. In determining the amount of an Eligible Account, the face amount of an Account may, in the Administrative Agent’s
Permitted Discretion, be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all
accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges
or other allowances (including any amount that such Borrower may be obligated to rebate to an Account Debtor pursuant to the terms
of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account
but not yet applied by such Borrower to reduce the amount of such Account.

 

    16

     

    

 

“Eligible
Equipment Inventory” means, as of any date, the equipment owned by a Borrower and meeting each of the following requirements:

 

(a) such
Borrower has the right to subject such equipment to a Lien in favor of the Administrative Agent; such equipment is subject to
a first priority perfected Lien in favor of the Administrative Agent and is free and clear of all other Liens of any nature whatsoever
(except for (i) a Lien in favor of the Floor Plan Administrative Agent, subject to the First Lien Intercreditor Agreement, (ii)
a Lien in favor of Second Lien Notes Representative, subject to the Second Lien Intercreditor Agreement, and (iii) Permitted Encumbrances
which do not have priority over the Lien in favor of the Administrative Agent);

 

(b) such
equipment was not purchased with a Floor Plan Loan or, if it was purchased with a Floor Plan Loan, such Floor Plan Loan has been
paid in full;

 

(c) such
equipment is located on premises acceptable to the Administrative Agent;

 

(d) such
equipment is in good working order and condition (ordinary wear and tear excepted) and is used or held for use by such Borrower
in the ordinary course of business of such Borrower;

 

(e) such
equipment is not subject to any agreement which restricts the ability of such Borrower to use, sell, transport or dispose of such
equipment or which restricts the Administrative Agent's ability to take possession of, sell or otherwise dispose of such equipment;

 

(f)
the manufacturer serial number on such equipment is visible after such equipment placed in service;

 

(g) with
respect to such equipment constituting rental units, such equipment must have an executed rental contract not to exceed sixty
(60) months and such contract must be in a form acceptable to the Administrative Agent;

 

(h)
with respect to such equipment constituting demonstration units, any such unit shall not be considered Eligible Equipment Inventory
for more than three (3) months;

 

(i) such
equipment must be subject to an appraisal satisfactory to the Administrative Agent and not more than six (6) months old;

 

(j)
 such equipment is not otherwise unacceptable to the Administrative Agent; and

 

(k)
such equipment shall be depreciated in a manner consistent with past practices by the Borrowers and be in accordance with GAAP.

 

In
the event that inventory which was previously Eligible Equipment Inventory ceases to be Eligible Equipment Inventory hereunder
(except in the event that such ineligibility is solely pursuant to clause (e) hereof), such Borrower or the Borrower Representative
shall notify the Administrative Agent thereof on and at the time of submission to the Administrative Agent of the next Borrowing
Base Certificate.

 

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“Eligible
Equipment Inventory – New” means, as of any date, the Eligible Equipment Inventory of a Borrower that constitutes
equipment held by such Borrower as new equipment that has not been rented (other than for demonstration), is undamaged, saleable,
complete and has less than 100 hours of use since being manufactured. In the event that Inventory which was previously Eligible
Equipment Inventory – New ceases to be Eligible Equipment Inventory – New hereunder, such Borrower or the Borrower
Representative shall notify the Administrative Agent thereof on and at the time of submission to the Administrative Agent of the
next Borrowing Base Certificate.

 

“Eligible
Equipment Inventory – Rental Fleet” means, as of any date, the Eligible Equipment Inventory of a Borrower leased
or held for lease to a customer in the ordinary course of business. In the event that inventory which was previously Eligible
Equipment Inventory – Rental Fleet ceases to be Eligible Equipment Inventory – Rental Fleet hereunder, such Borrower
or the Borrower Representative shall notify the Administrative Agent thereof on and at the time of submission to the Administrative
Agent of the next Borrowing Base Certificate.

 

“Eligible
Equipment Inventory - Unappraised” means, as of any date, the equipment owned by a Borrower that satisfies all the requirements
in the definition of Eligible Equipment Inventory except clause (i) of such definition. In the event that inventory which was
previously Eligible Equipment Inventory - Unappraised ceases to be Eligible Equipment Inventory - Unappraised hereunder, such
Borrower or the Borrower Representative shall notify the Administrative Agent thereof on and at the time of submission to the
Administrative Agent of the next Borrowing Base Certificate. Notwithstanding anything herein to the contrary, any equipment qualifying
as Eligible Equipment Inventory - Unappraised shall no longer be considered Eligible Equipment Inventory – Unappraised upon
the earlier of (i) six months after the date it was first considered Eligible Equipment Inventory – Unappraised and (ii)
the first date such equipment is subject to an appraisal satisfactory to the Administrative Agent.

 

“Eligible
Equipment Inventory – Used Fleet” means, as of any date, the Eligible Equipment Inventory of a Borrower held for
sale that has been used and does not constitute Eligible Equipment Inventory – Rental Fleet. In the event that inventory
which was previously Eligible Equipment Inventory – Used Fleet ceases to be Eligible Equipment Inventory – Used Fleet
hereunder, such Borrower or the Borrower Representative shall notify the Administrative Agent thereof on and at the time of submission
to the Administrative Agent of the next Borrowing Base Certificate.

 

“Eligible
Parts Inventory” means, at any time, the parts inventory of a Borrower which the Administrative Agent determines in
its Permitted Discretion is eligible as the basis for the extension of Revolving Loans, Swingline Loans and the issuance of Letters
of Credit hereunder. Without limiting the Administrative Agent’s discretion provided herein, Eligible Parts Inventory shall
not include any Inventory:

 

(a) which
is not subject to a first priority perfected Lien in favor of the Administrative Agent;

 

(b) which
is subject to any Lien other than (i) a Lien in favor of the Administrative Agent, (ii) a Lien in favor of Second Lien Notes Representative,
subject to the Second Lien Intercreditor Agreement, and (iii) a Permitted Encumbrance which does not have priority over the Lien
in favor of the Administrative Agent;

 

(c) which,
in the Administrative Agent’s opinion, constitutes slow moving, obsolete, unmerchantable, defective, used, core returns,
consumables, unfit for sale, not salable at prices approximating at least the cost of such Inventory in the ordinary course of
business or unacceptable due to age, type, category and/or quantity;

 

(d) with
respect to which any covenant, representation, or warranty contained in this Agreement or the Security Agreement has been breached
or is not true and which does not conform to all standards imposed by any Governmental Authority;

 

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(e) in
which any Person shall (i) have any direct or indirect ownership, interest or title to such Inventory or (ii) be indicated on
any purchase order or invoice with respect to such parts Inventory as having or purporting to have an interest therein;

 

(f) which
is not parts held for sale in the ordinary course of business;

 

(g) which
is not located on premises owned or leased (with a landlord waiver and access agreement satisfactory to the Administrative Agent)
by a Borrower;

 

(h) which
is the subject of a consignment by such Borrower as consignor;

 

(i) which
contains or bears any intellectual property rights licensed to such Borrower unless the Administrative Agent is satisfied that
it may sell or otherwise dispose of such Inventory without (i) infringing the rights of such licensor, (ii) violating any contract
with such licensor, or (iii) incurring any liability with respect to payment of royalties other than royalties incurred pursuant
to sale of such Inventory under the current licensing agreement;

 

(j) for
which reclamation rights have been asserted by the seller; or

 

(k) which
the Administrative Agent otherwise determines is unacceptable for any reason whatsoever.

 

In
the event that parts inventory which was previously Eligible Parts Inventory ceases to be Eligible Parts Inventory hereunder (except
in the event that such ineligibility is solely pursuant to clause (k) hereof), such Borrower or the Borrower Representative shall
notify the Administrative Agent thereof on and at the time of submission to the Administrative Agent of the next Borrowing Base
Certificate.

 

“Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation
or reclamation of natural resources, or the management, release or threatened release of any Hazardous Material or to health and
safety matters.

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of any Loan Party directly or indirectly resulting from or based upon (a) violation
of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous
Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials
into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed
or imposed with respect to any of the foregoing.

 

“Equipment”
has the meaning assigned to such term in the Security Agreement.

 

“Equity
Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling
the holder thereof to purchase or acquire any such equity
interest.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated
thereunder.

 

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“ERISA
Affiliate” means any trade or business (whether or not incorporated) that, together with any Borrower (or Guarantor,
if any), is treated as a single employer under Section 414(b) or (c) of the Code or, Section 4001(14) of ERISA or, solely
for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414
of the Code.

 

“ERISA
Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the 30 day notice period is waived); (b) the
failure to satisfy the “minimum funding standards” (as defined in Section 412 of the Code or Section 302
of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by any Borrower (or
Guarantor, if any) or any of their ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of
any Plan; (e) the receipt by any Borrower (or Guarantor, if any) or any ERISA Affiliate from the PBGC or a plan administrator
of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the
incurrence by any Borrower (or Guarantor, if any) or any of its ERISA Affiliates of any liability with respect to the withdrawal
or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by any Borrower (or Guarantor, if any) or any
ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Borrower (or Guarantor, if any) or any ERISA
Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or
is expected to be, insolvent, in critical status or in reorganization, within the meaning of Title IV of ERISA.

 

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

 

"Eurodollar",
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

 

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

 

“Event
of Loss” means, with respect to any assets, any of the following: (a) any loss, destruction or damage of such assets;
(b) any pending or threatened institution of any proceedings for the condemnation or seizure of such assets or for the exercise
of any right of eminent domain; or (c) any actual condemnation, seizure or taking, by exercise of the power of eminent domain
or otherwise, of such assets, or confiscation of such assets or the requisition of the use of such assets.

 

“Excluded
Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion
of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or
any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity
Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s
failure for any reason to constitute an ECP at the time the Guarantee of such Guarantor or the grant of such security interest
becomes or would become effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing
more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which
such Guarantee or security interest is or becomes illegal.

 

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"Excluded
Taxes" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan, Letter of Credit or
Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan, Letter of Credit
or Commitment (other than pursuant to an assignment request by the Borrowers under Section 2.19(b)) or (ii) such Lender changes
its lending office, except in each case to the extent that, pursuant to Section 2.17, amounts with respect to such Taxes were
payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in a Loan, Letter
of Credit or Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s
failure to comply with Section 2.17(f) and (d) any U.S. federal withholding Taxes imposed under FATCA.

 

“Existing
Letters of Credit” means each of the currently outstanding letters of credit issued for the account of a Borrower and
listed on Schedule 2.06 hereto.

 

“Extenuating
Circumstance” means any period during which the Administrative Agent has determined in its sole discretion (i) that
due to unforeseen and/or nonrecurring circumstances, it is impractical and/or not feasible to submit or receive a Borrowing Request
or Interest Election Request by email or fax or through Electronic System, and (ii) to accept a Borrowing Request or Interest
Election Request telephonically.

 

“FATCA”
means Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof
and any agreement entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices
adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such
Sections of the Code.

 

“Federal
Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions
by depositary institutions, as determined in such manner as shall be set forth on the Federal Reserve Bank of New York’s
Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate,
provided that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero
for the purposes of this Agreement.

 

“Federal
Reserve Bank of New York’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor
source.

 

“Financial
Officer” means the chief executive officer, chief financial officer, vice president of finance, director of finance,
principal accounting officer, treasurer or controller of such company.

 

“First
Lien Intercreditor” means an intercreditor agreement dated on or before the Effective Date among the Borrowers, the Administrative
Agent and the Floor Plan Administrative Agent, and in form and substance acceptable to the Borrowers, the Administrative Agent
and the Floor Plan Administrative Agent, as amended or otherwise modified from time to time.

 

“First
Lien Leverage Ratio” means, as of any date, the ratio of (a) Consolidated First Lien Debt as of such date, to (b) Consolidated
EBITDA less (1) any noncash gains or losses on the sale of fixed or capital assets offset for gains from the sale of fixed or
capital assets calculated (a) as the price at which the applicable Borrower sold the applicable asset, minus (b) the applicable
Borrower’s initial purchase price of such asset (for the avoidance of doubt, without reducing clause (b) for any depreciation
or amortization thereof); and (2) Interest Expense with respect to the Showroom Ready Debt (with Consolidated EBITDA and such
Interest Expense calculated for the four most recently ended four Fiscal Quarters as of such date).

 

    21

     

    

  

"Fiscal
Quarter" means each of the quarterly accounting periods of Alta Group and its Subsidiaries ending on March 31, June 30,
September 30 and December 31 of each year.

 

"Fiscal
Year" means each annual accounting period of Alta Group and its Subsidiaries ending on December 31. As an example, reference
to the 2020 Fiscal Year shall mean the Fiscal Year ending December 31, 2020.

 

"Fixed
Charge Coverage Ratio" means, as of any date, the ratio of (a) Consolidated EBITDA, minus, Capital Expenditures, to (b)
Fixed Charges, all as calculated for the four consecutive Fiscal Quarters then ending on a consolidated basis for Alta Group and
its Subsidiaries.

 

“Fixed
Charges” means, for any period, without duplication, cash Interest Expense, plus prepayments (other than (x) prepayments
of Loans and (y) prepayments constituting refinancings through the incurrence of additional Indebtedness expressly permitted by
Section 6.01)) and scheduled principal and curtailment payments on Indebtedness made during such period (other than payments on
intercompany Indebtedness between the Borrowers), plus expense for taxes paid in cash, plus Restricted Payments paid in cash,
plus Capital Lease Obligation payments, all calculated for the Borrowers and their respective Subsidiaries on a consolidated basis.

 

“Flagler”
means Flagler Construction Equipment, LLC, a Delaware limited liability company.

 

“Flagler
Acquisition” means the Acquisition of substantially all the assets of Flagler by Alta Construction Equipment Florida
described in the Flagler Acquisition Agreement and the other Flagler Acquisition Documents.

 

“Flagler
Acquisition Agreement” means the Asset Purchase Agreement dated on or before the Effective Date among Flagler, Alta
Enterprises and Flagler Holdings, LLC, a Delaware limited liability company, Alta Construction Equipment Florida, Alta Enterprises
and Thomas R. Holmes in the form delivered to the Administrative Agent prior to the date of this Agreement.

 

“Flagler
Acquisition Documents” means the Flagler Acquisition Agreement and each other material agreement effecting the Flagler
Acquisition, including, without limitation, any escrow agreement, management agreement, non-competition agreement, bonus agreement,
retention agreement, employment agreement for any officer or other senior management employee and other similar agreements.

 

“Flagler
Assignment of Representations and Warranties” means that certain Assignment of Representations, Warranties, Covenants
and Indemnities dated as of the Effective Date under the terms of which Alta Construction Equipment Florida collaterally assigns
to the Administrative Agent its rights and benefits under the Flagler Acquisition Agreement.

 

“Flood
Laws” has the meaning assigned to such term in Section 8.10.

 

“Floor
Plan Administrative Agent” means JPMCB, in its capacity as administrative agent under any of the Floor Plan Credit Agreement,
or any successor administrative agent under the Floor Plan Credit Agreement.

 

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“Floor
Plan Credit Agreement” means the Floor Plan Credit Agreement, dated as of the date hereof, among the Borrowers, the
lenders party thereto from time to time, and the Floor Plan Administrative Agent, as amended, refinanced, replaced, supplemented
or otherwise modified from time to time.

 

“Floor
Plan Lenders” means the “Lenders” as defined in, and party to, the Floor Plan Credit Agreement.

 

“Floor
Plan Loan Documents” means the “Loan Documents” as defined in the Floor Plan Credit Agreement.

 

“Floor
Plan Loan Parties” means the “Loan Parties” as defined in the Floor Plan Credit Agreement.

 

“Floor
Plan Loans” means “Loans” as defined in, and made under, the Floor Plan Credit Agreement.

 

“Floor
Plan Obligations” means the “Secured Obligations” as defined in the Floor Plan Credit Agreement.

 

“Floor
Plan Priority Collateral” means all Collateral consisting of the equipment purchased with Floor Plan Loans and all Proceeds
of any of the foregoing (including without limitation, all insurance proceeds and rents and all accessions thereto).

 

“Foreign
Lender” means (a) if a Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if a Borrower is not a
U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is
resident for tax purposes.

 

“Forward
Purchase Cash Common Equity” is defined in Section 3.30.

 

“Funding
Account” has the meaning assigned to such term in Section 4.01(q).

 

“GAAP”
means generally accepted accounting principles in the U.S.

 

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

 

“Greenawalt”
means Ryan Greenawalt and any trust controlled by him, for his benefit, his spouse’s benefit or the benefit of any lineal
descendants of Ryan Greenawalt.

 

“Guarantees”
means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary
course of business of negotiable instruments for deposit or collection) Guaranteeing or intended to Guarantee any Indebtedness
of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not
contingent, (i) to purchase any such Indebtedness or any property constituting security therefor, (ii) to advance or
provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or
other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements
or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (iii) to lease
or purchase assets, securities or services primarily for the purpose of assuring the holder of such Indebtedness against loss
in respect thereof, (iv) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness
or obligation or (v) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof.
The amount of any Guarantee hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to
the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect of which such Guarantee
is made.

 

    23

     

    

 

“Guarantors”
means the Borrowers (as a Guarantor with respect to all Secured Obligations of each of the other Loan Parties) and each existing
and future subsidiary of any of the foregoing.

 

“Hazardous
Materials” means: (a) any substance, material, or waste that is included within the definitions of “hazardous
substances,” “hazardous materials,” “hazardous waste,” “toxic substances,” “toxic
materials,” “toxic waste,” or words of similar import in any Environmental Law; (b) those substances listed
as hazardous substances by the United States Department of Transportation (or any successor agency) (49 C.F.R. 172.101 and amendments
thereto) or by the Environmental Protection Agency (or any successor agency) (40 C.F.R. Part 302 and amendments thereto); and
(c) any substance, material, or waste that is petroleum, petroleum-related, or a petroleum by-product, asbestos or asbestos-containing
material, polychlorinated biphenyls, flammable, explosive, radioactive, freon gas, radon, or a pesticide, herbicide, or any other
agricultural chemical.

 

"Historical
Financial Statements" has the meaning assigned to such term in Section 3.04(a).

 

“IBA”
has the meaning assigned to such term in Section 1.05.

 

“Impacted
Interest Period” has the meaning assigned to such term in the definition of “LIBO Rate”.

 

“Increasing
Lender” has the meaning assigned to such term in Section 2.21(a).

 

“Indebtedness”
of any Person means, without duplication, with respect to any Person, without duplication, (a) all obligations of such Person
for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, or upon
which interest payments are customarily made, (c) all obligations of such Person under conditional sale or other title retention
agreements relating to assets purchased by such Person (other than customary reservations or retentions of title under agreements
with suppliers entered into in the ordinary course of business), (d) all obligations of such Person issued or assumed as
the deferred purchase price of assets or services purchased by such Person (other than trade debt incurred in the ordinary course
of business) which would appear as liabilities on a balance sheet of such Person, (e) all obligations of such Person under
take-or-pay or similar arrangements, (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness
has an existing right, contingent or otherwise, to be secured by) any Lien on, or payable out of the proceeds of production from,
assets owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees
of such Person with respect to Indebtedness of another Person, (h) Capital Lease Obligations of such Person, (i) the maximum
amount of all standby letters of credit issued or bankers’ acceptances facilities created or similar instruments for the
account of such Person and, without duplication, all drafts drawn thereunder (to the extent unreimbursed), as reduced from time
to time, (j) all Disqualified Equity, (k) the principal balance outstanding under any synthetic lease, tax retention
operating lease, accounts receivable securitization program, off-balance sheet loan or similar off-balance sheet financing product,
based on the amount that would be deemed outstanding thereunder if such transaction was structured as a secured financing on balance
sheet, (l) the Indebtedness of any partnership in which such Person is a general partner, (m) obligations under any earn-out
or similar obligations determined in accordance with GAAP and (n) the portion of indebtedness of any unincorporated joint venture
in which such Person is a general partner or a joint venturer that is pro rata to such Person’s ownership interest in such
joint venture and (o) buyback obligations to the extent such obligations exceed the associated asset value set forth in the financial
statements of Alta Group and its Subsidiaries.

 

    24

     

    

 

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

 

“Indemnitee”
has the meaning assigned to such term in Section 9.03(b).

 

"Ineligible
Institution" has the meaning assigned to it in Section 9.04(b).

 

“Intercreditor
Agreements” means, collectively, the First Lien Intercreditor Agreement, the Second Lien Intercreditor Agreement and
any other intercreditor agreement in form and substance acceptable to the Administrative Agent in its sole discretion.

 

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

 

“Interest
Expense” means, with reference to any period, total interest expense (including that attributable to Capital Lease Obligations)
of Alta Group and its Subsidiaries for such period with respect to all outstanding Indebtedness of Alta Group and its Subsidiaries
(including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptances
and net costs under Swap Agreements in respect of interest rates, to the extent such net costs are allocable to such period in
accordance with GAAP), calculated for Alta Group and its Subsidiaries on a consolidated basis for such period in accordance with
GAAP.

 

“Interest
Payment Date” means (a) with respect to any CBFR Loan and any Swingline Loan, the first Business Day of each month,
and (b) with respect to any Eurodollar Loan, the last day of each Interest Period applicable to the Borrowing of which such
Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than one (1) month duration, each successive
date(s) each one (1) month after the first day of such Interest Period.

 

“Interest
Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending
on the numerically corresponding day in the calendar month that is one, two, three or six (6) months thereafter, as a Borrower
may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period
shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar
month, in which case such Interest Period shall end on the next preceding Business Day and (ii) any Interest Period that
commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the
last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period.
For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a
Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

 

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

 

    25

     

    

 

“Inventory”
has the meaning assigned to such term in the Security Agreement.

 

“IPO
Cash Common Equity” is defined in Section 3.30.

 

“IRS”
means the United States Internal Revenue Service.

 

“Issuing
Bank” means each of JPMCB in its capacity as an issuer of Letters of Credit hereunder, and its successors in such capacity
as provided in Section 2.05(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be
issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with
respect to Letters of Credit issued by such Affiliate.

 

“JPMCB”
means JPMorgan Chase Bank, N.A.

 

“JPMCB
Parties” has the meaning assigned to such term in Section 9.20.

 

“LC
Collateral Account" has the meaning assigned to such term in Section 2.05(j).

 

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

 

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

 

“Lenders”
means the Persons listed on the Commitment Schedule and any other Person that shall have become a party hereto pursuant
to an Assignment and Assumption or Section 2.21 or otherwise, other than any such Person that ceases to be a party hereto pursuant
to an Assignment and Assumption or otherwise. Unless the context otherwise requires, the term “Lenders” includes the
Swingline Lender and Issuing Bank.

 

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

 

“Letter
of Credit Agreement” has the meaning assigned to it in Section 2.06(b).

 

“LIBO
Rate” means, with respect to any Eurodollar Borrowing for any applicable Interest Period or for any CBFR Borrowing,
the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration
of such rate for Dollars) for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the
Reuters screen that displays such rate or, in the event such rate does not appear on a Reuters page or screen, on any successor
or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes
such rate from time to time as shall be selected by the Administrative Agent in its reasonable discretion (in each case, the “LIBO
Screen Rate”) at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest
Period; provided that, (x) if the LIBO Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes
of this Agreement and (y) if the LIBO Screen Rate shall not be available at such time for a period equal in length to such Interest
Period (an “Impacted Interest Period”), then the LIBO Rate shall be the Interpolated Rate at such time, subject to
Section 2.13 in the event that the Administrative Agent shall conclude that it shall not be possible to determine such Interpolated
Rate (which conclusion shall be conclusive and binding absent manifest error); provided further, that, if any Interpolated Rate
shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. Notwithstanding the above, to the
extent that “LIBO Rate” or “Adjusted LIBO Rate” is used in connection with a CBFR Borrowing, such rate
shall be determined as modified by the definition of Adjusted One Month LIBOR Rate.

 

    26

     

    

 

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

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of Equity Interests or securities, any purchase option, call or similar right of a third party
with respect to such Equity Interests or securities.

 

“Liftech”
means Liftech Equipment Companies, Inc., a New York corporation.

 

“Liftech
Acquisition” means the Acquisition of substantially all the assets of Liftech by NITCO described in the Liftech Acquisition
Agreement and the other Liftech Acquisition Documents.

 

“Liftech
Acquisition Agreement” means the Asset Purchase Agreement dated on or before the Effective Date among Liftech, NITCO,
and Joseph Verzino in the form delivered to the Administrative Agent prior to the date of this Agreement.

 

“Liftech
Acquisition Documents” means the Liftech Acquisition Agreement and each other material agreement effecting the Liftech
Acquisition, including, without limitation, any escrow agreement, management agreement, non-competition agreement, bonus agreement,
retention agreement, employment agreement for any officer or other senior management employee and other similar agreements.

 

“Liftech
Assignment of Representations and Warranties” means that certain Assignment of Representations, Warranties, Covenants
and Indemnities dated as of the Effective Date under the terms of which NITCO collaterally assigns to the Administrative Agent
its rights and benefits under the Liftech Acquisition Agreement.

 

“Loan
Documents” means this Agreement, any promissory notes issued pursuant to this Agreement, each Letter of Credit Agreement,
the Collateral Documents, the Subordination Agreements, the Flagler Assignment of Representations and Warranties, the Liftech
Assignment of Representations and Warranties and all other agreements, instruments, documents and certificates executed and delivered
to, or in favor of, the Administrative Agent or any Lenders and including all other pledges, powers of attorney, intercreditors,
landlord waivers and access agreements, consents, assignments, contracts, notices, letter of credit agreements and all other written
matter whether heretofore, now or hereafter executed by or on behalf of any Loan Party, or any employee of any Loan Party, and
delivered to the Administrative Agent or any Lender in connection with this Agreement or the transactions contemplated hereby.
Any reference in the Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or schedules
thereto, and all amendments, restatements, supplements or other modifications thereto, and shall refer to the Agreement or such
Loan Document as the same may be in effect at any and all times such reference becomes operative.

 

“Loan
Parties” means the Borrowers and the Guarantors, if any.

 

“Loan
Party Guaranty” means any guaranty agreements from any Guarantor delivered in connection with any Loan Document at any
time (and for avoidance of doubt, excluding any and all such guaranty agreements of any Persons that are not Guarantors as defined
herein delivered in connection with the Existing Credit Agreement) as are requested by the Administrative Agent and its counsel,
in each case as amended, restated, supplemented or otherwise modified from time to time.

 

    27

     

    

 

“Loans”
means the loans and advances made by the Lenders pursuant to this Agreement, including Swingline Loans, Overadvances and Protective
Advances.

 

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

 

"Material
Adverse Effect" means a material adverse effect on (a) the business, assets, property or financial condition of
the Loan Parties, taken as a whole, (b) the ability of the Loan Parties to perform any of their Obligations, or (c) the rights
of or benefits available to the Administrative Agent of the Lenders under the Loan Documents, including without limitation the
Collateral and the priority of the Administrative Agent’s Liens thereon.

 

“Material
Agreement” means any agreement listed on Schedule 3.21.

 

“Material
Indebtedness” means Indebtedness (other than the Loans and Letters of Credit), or obligations in respect of one or more
Swap Agreements, of any one or more of the Loan Parties in an aggregate principal amount exceeding $5,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the “obligations” of any Loan Party in respect
of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Loan
Party would be required to pay if such Swap Agreement were terminated at such time.

 

“Maximum
Rate” has the meaning assigned to such term in Section 9.15.

 

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

 

“Mortgages”
means any mortgage, deed of trust or other agreement from any Loan Party granting a Lien on any of its real property delivered
in connection with any Loan Document at any time (either before, concurrently or after the Effective Date, and including without
limitation any of the foregoing delivered in connection with the Existing Credit Agreement), each in form and substance reasonably
satisfactory to the Administrative Agent, entered into by any Loan Party at any time for the benefit of the Administrative Agent
and the Lenders pursuant to this Agreement, as amended or otherwise modified from time to time.

 

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

 

“Net
Book Value” means the net book value of any asset, taking into account diminutions, depreciations and other accounting
charges, determined in accordance with GAAP.

 

“Net
Orderly Liquidation Value” means, with respect to Inventory or Equipment of any Person, the orderly liquidation value
thereof as determined in a manner acceptable to the Administrative Agent by an appraiser acceptable to the Administrative Agent,
net of all costs of liquidation thereof.

 

    28

     

    

 

"Net
Cash Proceeds" means, without duplication (a) in connection with any sale or other disposition of any asset or any settlement
by, or receipt of payment in respect of, any property insurance claim or condemnation award, the cash proceeds (including any
cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price
adjustment receivable or otherwise, but only as and when received) of such sale, settlement or payment, net of documented attorneys'
fees, accountants' fees, investment banking fees, amounts required to be applied to the repayment of Indebtedness secured by a
Lien expressly permitted hereunder on any asset which is the subject of such sale, insurance claim or condemnation award (other
than any Lien in favor of the Administrative Agent for the benefit of the Administrative Agent and the Lenders) and other fees
actually incurred in connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof and
of any other costs incurred in connection with such sale, disposition, settlement or receipt and (b) in connection with any issuance
or sale of any equity securities or debt securities or instruments or the incurrence of loans, the cash proceeds received from
such issuance or incurrence, net of investment banking fees, documented attorneys' fees, accountants' fees, underwriting discounts
and commissions and other fees and expenses actually incurred in connection therewith.

 

“Net
Income” means, for any period, the consolidated net income (or loss) determined for Alta Group and its Subsidiaries,
on a consolidated basis in accordance with GAAP; provided that the following shall be excluded from the calculation of Net Income:
(a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated
with Alta Group or any Subsidiary, (b) the income (or deficit) of any Person (other than a Subsidiary) in which Alta Group or
any Subsidiary has an ownership interest, except to the extent that any such income is actually received by Alta Group or such
Subsidiary in the form of dividends or similar distributions and (c) the undistributed earnings of any Subsidiary (other than
a Borrower), to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not at
the time permitted by the terms of any contractual obligation (other than under any Loan Document) or Requirement of Law applicable
to such Subsidiary.

 

“NITCO”
means NITCO, LLC, a Michigan limited liability company.

 

“NYFRB”
means the Federal Reserve Bank of New York.

 

“NYFRB
Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight
Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day);
provided that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means
the rate for a federal funds transaction quoted at 11:00 a.m. eastern time on such day received by the Administrative Agent from
a federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates as so determined
would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest on (including without limitation interest accruing after the maturity
of the Loans and reimbursement obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement
of any insolvency, reorganization or like proceeding relating to any Loan Party, whether or not a claim for post-filing or post-petition
interest is allowed in such proceeding) the Loans, all LC Exposure, all accrued and unpaid fees and all expenses, reimbursements,
indemnities and other obligations of the Loan Parties to the Lenders or to any Lender, the Administrative Agent, the Issuing Bank
or to the Issuing Bank or any indemnified party arising under the Loan Documents, in all cases, individually or collectively,
existing on the Effective Date or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or
unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or incurred
under this Agreement or any of the other Loan Documents or in respect of any of the Loans made or reimbursement or other obligations
incurred or any of the Letters of Credit or other instruments at any time evidencing any thereof.

 

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

 

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"Other
Connection Taxes" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between
such Recipient and the jurisdiction imposing such Taxes (other than a connection arising from such Recipient having executed,
delivered, enforced, become a party to, performed its obligations under, received payments under, received or perfected a security
interest under, or engaged in any other transaction pursuant to, or enforced, any Loan Document), or sold or assigned an interest
in any Loan, Letter of Credit or Loan Document.

 

"Other
Taxes" means any present or future stamp, court, documentary intangible, recording, filing or similar other excise or
property Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration
of, or from the registration, receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document,
except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment under Section
2.18(b)).

 

“Overnight
Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings
by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth
on the Federal Reserve Bank of New York’s Website from time to time) and published on the next succeeding Business Day by
the NYFRB as an overnight bank funding rate.

 

“Paid
in Full” or “Payment in Full” means, (i) the indefeasible payment in full in cash of all outstanding
Loans and LC Disbursements, together with accrued and unpaid interest thereon, (ii) the termination, expiration, or cancellation
and return of all outstanding Letters of Credit (or alternatively, with respect to each such Letter of Credit, the furnishing
to the Administrative Agent of a cash deposit, or at the discretion of the Administrative Agent a back-up standby letter of credit
satisfactory to the Administrative Agent and the Issuing Bank, in an amount equal to 105% of the LC Exposure as of the date of
such payment), (iii) the indefeasible payment in full in cash of all accrued and unpaid fees, (iv) the indefeasible payment in
full in cash of all reimbursable expenses and other Secured Obligations (other than Unliquidated Obligations for which no claim
has been made and other obligations expressly stated to survive such payment and termination of this Agreement), together with
accrued and unpaid interest thereon, (v) the termination of all Commitments, and (vi) the termination of the Swap Agreement Obligations
and the Banking Services Obligations.

 

“Parent”
means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

 

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

 

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

 

“Payment
Condition” shall be deemed to be satisfied in connection with a Restricted Payment or Permitted Acquisition if:

 

		(a)	no
                                         Default has occurred and is continuing or would result immediately after giving effect
                                         to such Restricted Payment or Permitted Acquisition;

 

		(b)	immediately
                                         after giving effect to such Restricted Payment plus any prepayment of the Second Lien
                                         Notes that may be required pursuant to such Restricted Payment or Permitted Acquisition
                                         and at all times during the 60-day period immediately prior to such Restricted Payment
                                         (and prepayment of the Second Lien Notes that may be required pursuant to such Restricted
                                         Payment) or Permitted Acquisition, the Borrowers shall have Availability calculated on
                                         a on a pro forma basis acceptable to the Administrative Agent of not less than 17.5%
                                         of the Revolving Commitment; and

 

    30

     

    

 

		(c)	the
                                         Borrower Representative shall have delivered to the Administrative Agent a certificate
                                         in form and substance reasonably satisfactory to the Administrative Agent certifying
                                         as to the items described in (a) and (b) above and attaching calculations for item (b)
                                         in form and substance satisfactory to the Administrative Agent.

 

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

 

“Permitted
Acquisition” means any Acquisition by a Loan Party in a transaction that (i) is consented to in writing by Required
Lenders in their sole discretion or (ii) otherwise satisfies each of the following requirements:

 

(a) such
Acquisition is not a hostile or contested Acquisition;

 

(b) the
business acquired in connection with such Acquisition (i) is not engaged, directly or indirectly, in any line of business other
than the businesses in which the Loan Parties are engaged on the Effective Date and any business activities that are substantially
similar, related, or incidental thereto and (ii) shall have generated a positive amount of earnings before income taxes, depreciation
and amortization (calculated in substantially the same manner as Pro Forma EBITDA less any noncash gains or losses on the sale
of fixed or capital assets offset for gains from the sale of fixed or capital assets calculated (x) at the price at which the
applicable business sold the applicable asset, minus (y) such business’s initial purchase price of such asset (for the avoidance
of doubt, without reducing this clause (y) for any depreciation or amortization thereof)), less unfinanced Capital Expenditures,
during the twelve-month period most recently ended prior to the date of such Acquisition;

 

(c) both
before and after giving effect to such Acquisition and the Loans (if any) requested to be made and other Indebtedness incurred
in connection therewith on a pro forma basis acceptable to the Administrative Agent, (i) each of the representations and warranties
in the Loan Documents is true and correct, (ii) the Total Leverage Ratio is at least (1) 0.30 below the level required by Section
6.13(a) for any Acquisition consummated during the Fiscal Year ending December 31, 2020 and (2) 0.25 below the level required
by Section 6.13(a) for any Acquisition consummated during the Fiscal Year ending December 31, 2021 and each Fiscal Year thereafter,
(iii) Borrowers and their Subsidiaries shall be in compliance with the financial covenants set forth in Section 6.13 on a pro
forma basis after giving effect to such Acquisition as of the last day of the Fiscal Quarter most recently ended for which financial
statements have been delivered to the Purchasers in accordance with Section 5.01(b)(i), and (iv) the Payment Condition is satisfied;

 

(d) as
soon as available, but not less than fifteen (15) days (or such shorter period agreed to by the Administrative Agent) prior to
such Acquisition, the Borrower Representative shall have provided the Lenders (i) notice of such Acquisition and (ii) a copy of
all business and financial information reasonably requested by the Administrative Agent, including pro forma financial statements,
statements of cash flow, availability projections, a quality of earnings analysis and a certificate, in form and detail satisfactory
to the Administrative Agent, demonstrating compliance with the requirements set forth in clause (c) above;

 

(e) if
such Acquisition is an acquisition of the Equity Interests of a Person, the Acquisition is structured so that the acquired Person
shall become a wholly-owned Subsidiary of a Borrower; and

 

(f) no
Loan Party shall, as a result of or in connection with any such Acquisition, assume or incur any direct or contingent liabilities
(whether relating to environmental, tax, litigation, or other matters) that could reasonably be expected to have a Material Adverse
Effect.

 

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“Permitted
Discretion” means a determination made in good faith and in the exercise of reasonable (from the perspective of a secured
asset-based lender) business judgment.

 

“Permitted
Encumbrances” means:

 

(a) Liens
imposed by law for taxes that are not yet due or are being contested in compliance with Section 5.04;

 

(b)
 carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s
and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue
by more than thirty (30) days or are being contested in compliance with Section 5.04;

 

(c)
 Liens (other than any Lien imposed by ERISA) consisting of pledges and deposits made
in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security
laws or regulations;

 

(d)
 deposits or pledges to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course
of business;

 

(e)
 judgment liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Article VII;

 

(f)
 easements, zoning restrictions, licenses, title restrictions, rights-of-way and similar
encumbrances on real property imposed by law or incurred or granted by any Loan Party in the ordinary course of business that
do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of any Loan Party; and

 

(g)
 minor imperfections in title that do not materially detract from the value of the affected
property or interfere with the ordinary conduct of business of any Loan Party;

 

provided
that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.

 

"Permitted
Investments" means:

 

(a)
direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the
U.S. (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the U.S.), in each
case maturing within one (1) year from the date of acquisition thereof;

 

(b)
investments in commercial paper maturing within two hundred seventy (270) days from the date of acquisition thereof and
having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody's;

 

(c)
investments in certificates of deposit, banker's acceptances and time deposits maturing within one hundred eighty (180) days
from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or
offered by, any domestic office of any commercial bank organized under the laws of the U.S. or any state thereof which has a
combined capital and surplus and undivided profits of not less than $500,000,000;

 

    32

     

    

 

(d)
fully collateralized repurchase agreements with a term of not more than thirty (30) days for securities described in
clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c)
above; and

 

(e)
 money market funds that (i) comply with the criteria set forth in Securities and Exchange
Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii)
have portfolio assets of at least $5,000,000,000.

 

“Permitted
Investors” means Greenawalt, Anthony J. Colucci, Robert T. Chiles, Craig F. Brubaker, Alan Hammersley, Richard A. Papalia,
and Sponsor.

 

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

 

“PIPE
Cash Common Equity” is defined in Section 3.30.

 

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

 

“Plan
Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time
to time.

 

"Prepayment
Events" means:

 

(a) any
Sale (including pursuant to a sale and leaseback transaction) of any property or asset of any Borrower or any Subsidiary with
a fair market value equal to or greater than $2,500,000, other than dispositions described in Section 6.03(a)(i);

 

(b) Event
of Loss in respect of any property or asset of any Borrower or any Subsidiary with a fair value immediately prior to such event
equal to or greater than $2,500,000; or

 

(c) the
incurrence by any Borrower or any Subsidiary of any Indebtedness, other than Indebtedness permitted under Section 6.01.

 

“Prime
Rate” means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S.
or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve
Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or,
if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar
release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective
from and including the date such change is publicly announced or quoted as being effective.

 

“Proceeds”
means (a) all “proceeds,” as defined in Article 9 of the Uniform Commercial Code, with respect to the Collateral,
and (b) whatever is recoverable or recovered when any Collateral is sold, exchanged, collected, or disposed of, whether voluntarily
or involuntarily, whether cash or non-cash.

 

"Projections"
has the meaning set forth in Section 3.04(b).

 

    33

     

    

 

"Pro
Forma EBITDA" means, with respect to any period, Consolidated EBITDA of the target business of a Permitted Acquisition
calculated with respect to such period on a pro forma basis (including pro forma adjustments approved by the Administrative Agent
in its Permitted Discretion) using the historical financial statements of any business acquired or to be acquired and the
consolidated financial statements of Alta Group and its Subsidiaries, which shall be reformulated as if such Permitted Acquisition,
and any Indebtedness incurred or repaid in connection therewith, had been consummated or incurred at the beginning of such period
(and assuming that such Indebtedness bears interest during any portion of the applicable measurement period prior to the relevant
acquisition at the weighted average of the interest rates applicable to outstanding Indebtedness incurred during such period).

 

“Protective
Advance” has the meaning assigned to such term in Section 2.04.

 

“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.

 

“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with,
12 U.S.C. 5390(c)(8)(D).

 

“QFC
Credit Support” has the meaning assigned to it in Section 9.23.

 

"Recipient"
means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) the Issuing Bank.

 

“Register”
has the meaning set forth in Section 9.04(b)(iv).

 

“Regulation
D” means Regulation D of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
T” means Regulation T of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
U” means Regulation U of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
X” means Regulation X of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

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

 

“Relevant
Governmental Body” means the Federal Reserve Board and/or the NYFRB, or a committee officially endorsed or convened
by the Federal Reserve Board and/or the NYFRB or, in each case, any successor thereto.

 

“Replacement
Lender” has the meaning assigned to such term in Section 2.18(b).

 

“Reports”
has the meaning assigned to such term in Article VIII.

 

“Required
Lenders” means, at any time, Lenders having Credit Exposure and unused Commitments representing more than 50% of the
sum of the total Credit Exposure and unused Commitments at such time; provided that (a) it shall require at least two Lenders
(with any Lenders that are Affiliates constituting one Lender for purposes of this definition) to constitute Required Lenders
if there are two or more Lenders party hereto, and (b) the Credit Exposure and unused Commitments of any Defaulting Lender shall
be disregarded in determining Required Lenders at any time.

 

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“Requirement
of Law” means, as to any Person, the certificate of incorporation and bylaws, certificate of organization and operating
agreement, or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination
of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of
its property or to which such Person or any of its property is subject.

 

“Reserves”
means any and all reserves which the Administrative Agent deems necessary, in its Permitted Discretion, to maintain (including,
without limitation, an availability reserve, reserves for accrued and unpaid interest on the Secured Obligations, Banking Services
Reserves, reserves for rent at locations leased by any Loan Party and for consignees, reserves for dilution of Accounts, reserves
for Inventory shrinkage, reserves for Swap Obligations, reserves for contingent liabilities of any Loan Party, reserves for uninsured
losses of any Loan Party, reserves for uninsured, underinsured, un-indemnified or under-indemnified liabilities or potential liabilities
with respect to any litigation, reserves for taxes, fees, assessments, and other governmental charges and reserves for parts inventory
attached to open work orders) with respect to the Collateral or any Loan Party.

 

"Restricted
Payment" means (i) any dividend or other distribution (whether in cash, securities or other property) with respect to
any Equity Interests of any Loan Party, (ii) any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such
Equity Interests in the any Loan Party or any option, warrant or other right to acquire any such Equity Interests in any Loan
Party or (iii) management fees, agency fees or other fees or similar amounts payable by any Loan Party to any of its Affiliates.

 

“Responsible
Officer” means the president, Financial Officer or other executive officer of a Borrower.

 

“Revolving
Availability Period” means the period from and including the Effective Date to but excluding the Revolving Termination
Date.

 

“Revolving
Borrowing Base” means, at any time, the sum of

 

(a)
85% of Eligible Accounts at such time, plus

 

(b)
the product of 85% multiplied by the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal
ordered by the Administrative Agent (such product not to be greater than 65%) in each case multiplied by Eligible Parts
Inventory, valued at the lower of cost or market value, determined on a first-in-first-out basis, plus

 

(c)
the product of 85% multiplied by the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal
ordered by the Administrative Agent (such product not to be greater than 100%) in each case multiplied by Eligible Equipment
Inventory – Used Fleet, valued at the Net Book Value, plus

 

(d)
the product of 85% multiplied by the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal
ordered by the Administrative Agent (such product not to be greater than 80%), in each case multiplied by Eligible Equipment Inventory
- New, valued at the lower of cost or market value, determined on a first-in-first-out basis, plus

 

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(e)
the product of 85% multiplied by the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal
ordered by the Administrative Agent multiplied by Eligible Equipment Inventory – Rental Fleet, valued at the Net
Book Value, determined on a first-in-first-out basis, plus

 

(f)
80% of Net Book Value of Eligible Equipment Inventory - Unappraised at such time, minus

 

(g)
Reserves.

 

The
Administrative Agent may, in its Permitted Discretion, reduce the advance rates set forth above, adjust Reserves or reduce one
or more of the other elements used in computing the Revolving Borrowing Base. Notwithstanding the foregoing and for greater certainty,
any Floor Plan Priority Collateral will be excluded from the Revolving Borrowing Base.

 

“Revolving
Commitment” means, with respect to each Revolving Lender, the commitment, if any, of such Lender to make Revolving Loans
and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum
possible aggregate amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from time
to time pursuant to Section 2.08, (b) increased from time to time pursuant to Section 2.04 or 2.21 and (c) reduced or increased
from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s
Revolving Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Lender
shall have assumed its Revolving Commitment, as applicable. As of the Effective Date, the aggregate amount of the Lenders’
Revolving Commitments is $300,000,000.

 

“Revolving
Exposure” means, with respect to any Lender at any time, the sum of (a) the outstanding principal amount of such Lender’s
Revolving Loans, its LC Exposure and its Swingline Exposure at such time, plus (b) an amount equal to its Applicable Percentage
of the aggregate principal amount of Protective Advances outstanding at such time, plus (c) an amount equal to its Applicable
Percentage of the aggregate principal amount of Overadvances outstanding at such time.

 

“Revolving
Lender” means each Lender that has a Revolving Commitment or, if the Revolving Commitments have been terminated, Revolving
Exposure, in its capacity as holder thereof.

 

“Revolving
Loan” means a Loan made pursuant to Section 2.01.

 

“Revolving
Termination Date” means the earlier of (a) the date on which the Revolving Commitments are reduced to zero or otherwise
terminated pursuant to the terms hereof and (b) February 13, 2025.

 

"Sale”
means the sale, lease, conveyance or other disposition of any assets, other than an Event of Loss.

 

“Sanctioned
Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at
the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria).

 

“Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by
the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State or by the United Nations
Security Council, the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom or other
relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or
controlled by any such Person or Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject
of any Sanctions.

 

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“Sanctions”
means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S.
government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the
U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state or Her
Majesty’s Treasury of the United Kingdom or other relevant sanctions authority.

 

“S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.

 

"SEC"
means the Securities and Exchange Commission or any Governmental Authority succeeding to any or all of the functions of said Commission.

 

“Second
Lien Intercreditor Agreement” means an intercreditor agreement substantially in the form of Exhibit B hereto,
dated as of the Effective Date, among the Borrowers, the Administrative Agent, the Floor Plan Administrative Agent and the Second
Lien Notes Representative, as amended or otherwise modified from time to time.

 

“Second
Lien Note Purchase Agreement” means the Note Purchase Agreement, dated as of the date hereof, among the Borrowers, the
purchasers party thereto from time to time, and the Second Lien Notes Representative, as amended, refinanced, replaced, supplemented
or otherwise modified from time to time.

 

“Second
Lien Notes” means the notes in the aggregate principal amount of not less than $155,000,000 and not more than $165,000,000
issued by the Borrowers on the Effective Date under the Second Lien Note Purchase Agreement.

 

“Second
Lien Notes Documents” means the “Notes Documents” as defined in the Second Lien Note Purchase Agreement.

 

“Second
Lien Notes Representative” means U.S. Bank, National Association, in its capacity as administrative agent under any
of the Second Lien Notes Documents, or any successor administrative agent under any of the Second Lien Notes Documents.

 

“Second
Lien Purchasers” means the Persons referred to as “Purchasers” in the Second Lien Note Purchase Agreement.

 

“Second
Lien Obligations” means the “Obligations” as defined in the Second Lien Note Purchase Agreement.

 

"Secured
Obligations" means, collectively, (i) the Obligations, (ii) the Banking Services Obligations and (iii) Secured Swap Obligations;
provided, however, that the definition of “Secured Obligations” shall not create any Guarantee by any Guarantor of
(or grant of security interest by any Guarantor to support, as applicable) any Excluded Swap Obligations of such Guarantor for
purposes of determining any obligations of any Guarantor.

 

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“Secured
Parties” means the holders of the Secured Obligations from time to time and shall include (i) each Lender and the
Issuing Bank in respect of its Loans and LC Exposure respectively, (ii) the Administrative Agent, the Issuing Bank and the
Lenders in respect of all other present and future obligations and liabilities of the each Loan Party of every type and description
arising under or in connection with this Agreement or any other Loan Document, (iii) each Lender and Affiliate of such Lender
in respect of Swap Agreements entered into with such Person by any Loan Party, (iv) each Lender and Affiliate of such Lender
in respect of Banking Services provided by such Person to any Loan Party, (v) each indemnified party under Section 9.03 in
respect of the obligations and liabilities of the Borrowers to such Person hereunder and under the other Loan Documents, and (vi) their
respective successors and (in the case of a Lender, permitted) transferees and assigns.

 

“Secured
Swap Obligations” of a Person means any and all obligations of such Person, whether absolute or contingent and howsoever
and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions
therefor), under (a) any and all Swap Agreements permitted hereunder to the extent the provider of such Swap Agreement is
a Lender or was a Lender or an Affiliate of any such Lender at the time such Swap Agreement is entered into, and (b) any
and all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction described in the foregoing
clause (a).

 

"Security
Agreement" means each security agreement, pledge agreement, pledge and security agreement and similar agreement and any
other agreement from any Loan Party granting a Lien on any of its personal property (including without limitation any Equity Interests
owned by such Loan Party) delivered in connection with any Loan Document at any time (either before, concurrently or after the
Effective Date, and including without limitation any of the foregoing delivered in connection with the Existing Credit Agreement),
each in form and substance acceptable to the Administrative Agent, entered into by any Loan Party at any time for the benefit
of the Administrative Agent and the Lenders pursuant to this Agreement, as amended or otherwise modified from time to time.

 

“Settlement
Date” has the meaning assigned to such term in Section 2.06(c).

 

"Showroom
Ready Debt" means any Indebtedness (including, without limitation, any Floor Plan Obligations) or other obligations of
any Loan Party related to the acquisition of equipment of a Loan Party which is either: (a) held by such Loan Party as new equipment
that has not been rented, is undamaged, saleable, complete, has less than 100 hours of use and is less than one (1) year old from
the date of delivery to such Loan Party; or (b) Volvo used (including certified refurbished) equipment that has not been rented,
is undamaged, saleable, complete, and is less than nine (9) months from the date of delivery to such Loan Party.

 

“SOFR”
with respect to any day means the secured overnight financing rate published for such day by the NYFRB, as the administrator of
the benchmark (or a successor administrator), on the Federal Reserve Bank of New York’s Website.

 

“SOFR-Based
Rate” means SOFR, Compounded SOFR or Term SOFR.

 

“Sponsor”
means, collectively, B. Riley Financial, Inc., a Delaware corporation (“B. Riley Financial”) and any Affiliates of
B. Riley Financial which are (a) directly or indirectly controlled by B. Riley Financial and (b) organized primarily for making
debt and/or equity investments in one or more companies.

 

“Statements”
has the meaning assigned to such term in Section 2.17(f).

 

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

 

“Subordinated
Debt” means any Indebtedness or other obligations of any Loan Party satisfying each of the following conditions: (a)
the payment and priority thereof is subordinated to the payment of the Secured Obligations, including customary payment blockage
and other customary provisions, all in a manner, including a Subordination Agreement, reasonably satisfactory to the Administrative
Agent and the Required Lenders, (b) any maturity thereof is reasonably acceptable to the Administrative Agent and the Required
Lenders, and (c) the other terms and conditions thereof, including pricing, covenants and defaults, are otherwise reasonably satisfactory
to the Administrative Agent and the Required Lenders.

 

“Subordinated
Debt Documents” means any document, agreement or instrument evidencing any Subordinated Debt or entered into in connection
with any Subordinated Debt.

 

"Subordination
Agreements" means, collectively, all present and future subordination agreements between the Administrative Agent, the
Loan Parties and the holders of any Subordinated Debt with respect to Subordinated Debt in form and substance satisfactory to
the Administrative Agent and the Required Lenders and as amended or modified from time to time as permitted hereunder.

 

“subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership,
association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity
or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests
are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or
one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.

 

“Subsidiary”
means any subsidiary of any Loan Party.

 

“Supported
QFC” has the meaning assigned to it in Section 9.23.

 

“Swap
Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities,
or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction
or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on
account of services provided by current or former directors, officers, employees or consultants of the Borrowers or the Guarantors,
if any, shall be a Swap Agreement.

 

“Swap
Obligations” of a Person means any and all obligations of such Person (including interest and fees accruing during the
pendency of any bankruptcy, insolvency, receivership or other similar proceedings, regardless of whether allowed or allowable
in such proceedings), whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including
all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements permitted
hereunder, and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction.

 

    39

     

    

 

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

 

“Swingline
Lender” means JPMCB, in its capacity as lender of Swingline Loans hereunder.

 

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

 

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

 

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

 

“Total
Leverage Ratio” means, as of any date, the ratio of (a) Consolidated Total Debt as of such date, to (b) Consolidated
EBITDA less (1) any noncash gains or losses on the sale of fixed or capital assets offset for gains from the sale of fixed or
capital assets calculated (a) as the price at which the applicable Borrower sold the applicable asset, minus (b) the applicable
Borrower’s initial purchase price of such asset (for the avoidance of doubt, without reducing clause (b) for any depreciation
or amortization thereof); and (2) Interest Expense with respect to the Showroom Ready Debt (with Consolidated EBITDA and such
Interest Expense calculated for the four most recently ended four Fiscal Quarters as of such date).

 

“Transactions”
means the execution, delivery and performance by the Loan Parties of the Loan Documents, the borrowing of Loans and other credit
extensions, the use of the proceeds thereof, the B. Riley Merger/Equity Transactions, the Liftech Acquisition, the Flagler Acquisition,
the execution, delivery and performance by the Loan Parties of all Floor Plan Loan Documents and Second Lien Notes Documents and
the issuance of the Second Lien Notes on the Effective Date and the transactions related thereto and the payment of fees and expenses
in connection with the foregoing.

 

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

 

“U.S.”
means the United States of America.

 

“U.S.
Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S.
Special Resolution Regime” has the meaning assigned to it in Section 9.23.

 

“U.S.
Tax Compliance Certificate” has the meaning assigned to such term in Section 2.16(f)(ii)(B)(3).

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which
are required to be applied in connection with the issue of perfection of security interests.

 

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

 

“Unliquidated
Obligations” means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or unliquidated
at such time, including any Secured Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under
a letter of credit issued by it; (ii) any other obligation (including any Guarantee) that is contingent in nature at such
time; or (iii) an obligation to provide collateral to secure any of the foregoing types of obligations.

 

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

 

“Volvo”
means Volvo Construction Equipment, LLC.

 

“Warrant”
means that certain Purchase Warrant for Common Units No. W-1 issued by Alta Enterprises to Goldman Sachs & Co. LLC on December
27, 2017, as amended, restated, supplemented or otherwise modified from time to time.

 

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

 

"Withholding
Agent" means any Loan Party and the Administrative Agent.

 

“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.

 

SECTION
1.02. Classification of Loans and Borrowings.
For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”)
or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving
Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”)
or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar
Revolving Borrowing”).

 

    41

     

    

 

SECTION
1.03. Terms Generally. The definitions
of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “law”
shall be construed as referring to all statutes, rules, regulations, codes and other laws (including official rulings and interpretations
thereunder having the force of law or with which affected Persons customarily comply) and all judgments, orders and decrees of
all Governmental Authorities. The word “will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented
or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein),
(b) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to
time amended, supplemented or otherwise modified (including by succession of comparable successor laws), (c) any reference herein
to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on assignments
set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to
any or all functions thereof, (d) the words “herein”, “hereof” and “hereunder”, and words
of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e)
all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and
Exhibits and Schedules to, this Agreement, (f) any reference in any definition to the phrase “at any time” or “for
any period” shall refer to the same time or period for all calculations or determinations within such definition, and (g)
the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to
any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

 

SECTION
1.04. Accounting Terms; GAAP. Except as
otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP,
as in effect from time to time; provided that, if the Borrowers notify the Administrative Agent that the Borrowers request
an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Borrowers that the Required Lenders request
an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change
in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied
immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended
in accordance herewith. For purposes of calculating all financial covenants and all other covenants and, in each case, all defined
terms used therein, any Acquisition or any sale or other disposition outside the ordinary course of business by any Loan Party
of any asset or group of related assets in one or a series of related transactions, including the incurrence of any Indebtedness
and any related financing or other transactions in connection with any of the foregoing, occurring during the period for which
such matters are calculated shall be deemed to have occurred on the first day of the relevant period for which such matters were
calculated on a pro forma basis acceptable to the Administrative Agent. Notwithstanding any other provision contained herein,
all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred
to herein shall be made (i) without giving effect to any election under Financial Accounting Standards Board Accounting Standards
Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result
or effect) to value any Indebtedness or other liabilities of any Loan Party at “fair value”, as defined therein and
(ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Financial Accounting
Standards Board Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting
Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein,
and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

 

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SECTION
1.05. Interest Rates; LIBOR Notification. The interest rate on Eurodollar
Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank
offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in
the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would
no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any
successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank
offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available
or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light
of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference
rates to be used in place of the London interbank offered rate. Upon the occurrence of a Benchmark Transition Event or an Early
Opt-In Election, Section 2.13(c) provides a mechanism for determining an alternative rate of interest. The Administrative Agent
will promptly notify the Borrower Representative, pursuant to Section 2.13(e), of any change to the reference rate upon which
the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility
for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London
interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor
rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement rate
implemented pursuant to Section 2.13(c), whether upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election,
and (ii) the implementation of any Benchmark Replacement Conforming Changes pursuant to Section 2.13(d)), including without limitation,
whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to,
or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank
offered rate prior to its discontinuance or unavailability.

 

SECTION
1.06. Status of Obligations. In the event that any Borrower or any other Loan Party shall at any time issue or have outstanding
any Subordinated Debt, such Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary
to cause the Secured Obligations to constitute senior indebtedness (however denominated) in respect of such Subordinated Debt
and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or
potentially available to holders of senior indebtedness under the terms of such Subordinated Debt. Without limiting the foregoing,
the Secured Obligations are hereby designated as “senior indebtedness” and as “designated senior indebtedness”
and words of similar import under and in respect of any indenture or other agreement or instrument under which such Subordinated
Debt is outstanding and are further given all such other designations as shall be required under the terms of any such Subordinated
Debt in order that the Lenders may have and exercise any payment blockage or other remedies available or potentially available
to holders of senior indebtedness under the terms of such Subordinated Debt.

 

ARTICLE
II The Credits

 

SECTION
2.01. Commitments. Subject to the terms
and conditions set forth herein, each Revolving Lender severally (and not jointly) agrees to make Revolving Loans to the Borrowers
from time to time during the Revolving Availability Period in an aggregate principal amount that will not result in (a) such Lender's
Revolving Exposure exceeding such Lender's Revolving Commitment or (b) the sum of the total Revolving Exposures exceeding
the lesser of (i) the total Revolving Commitments or (ii) the Revolving Borrowing Base, subject to the Administrative Agent’s
authority, in its sole discretion, to make Protective Advances and Overadvances pursuant to the terms of Section 2.04. Within
the foregoing limits and subject to the terms and conditions set forth herein, the applicable Borrower(s) may borrow, prepay and
reborrow Revolving Loans. 

 

SECTION
2.02. Loans and Borrowings. (a) Each
Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by
the Lenders ratably in accordance with their respective Commitments of the applicable Class. Any Protective Advance, any Overadvance
and any Swingline Loan shall be made in accordance with the procedures set forth in Section 2.04. The Loans shall amortize as
set forth in Section 2.09. 

 

(b) Subject
to Section 2.13, each Revolving Borrowing shall be comprised entirely of CBFR Loans or Eurodollar Loans as the applicable
Borrower may request in accordance herewith. Each Swingline Loan shall be a CBFR Loan. Each Lender at its option may make any
Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an
Affiliate, the provisions of Sections 2.13, 2.14, 2.15 and 2.16 shall apply to such Affiliate to the same extent as to such Lender);
provided that any exercise of such option shall not affect the obligation of the Borrowers to repay such Loan in accordance
with the terms of this Agreement.

 

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(c) At
the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is
an integral multiple of $100,000 and not less than $1,000,000. At the time that each CBFR Revolving Borrowing is made, such Borrowing
shall be in an aggregate amount that is an integral multiple of $50,000 and not less than $100,000; provided that a CBFR
Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments
or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e). Each Swingline
Loan shall be in an amount that is not less than an amount required by the Swingline Lender from time to time. Borrowings of more
than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total
of five Eurodollar Borrowings outstanding with respect to all Revolving Loan.

 

(d) Notwithstanding
any other provision of this Agreement, the Borrowers shall not be entitled to request, or to elect to convert or continue, any
Borrowing if the Interest Period requested would end after the Revolving Termination Date.

 

SECTION
2.03. Requests for Borrowings. To request
a Borrowing, a Borrower shall notify the Administrative Agent of such request either in writing (delivered by hand or fax) by
delivering a Borrowing Request signed by a Responsible Officer of the Borrower Representative or through Electronic System if
arrangements for doing so have been approved by the Administrative Agent (or if an Extenuating Circumstance shall exist, by telephone)
not later than (a) in the case of a Eurodollar Borrowing, noon, Chicago time, three (3) Business Days before the date of the proposed
Borrowing or (b) in the case of an CBFR Borrowing, noon, Chicago time, on the date of the proposed Borrowing; provided
that any such notice of an CBFR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by
Section 2.06(e) may be given not later than 11:00 a.m., Chicago time, on the date of such proposed Borrowing. Each such Borrowing
Request shall be irrevocable and each such telephonic Borrowing Request, if permitted, shall be confirmed immediately upon the
cessation of the Extenuating Circumstance by hand delivery, facsimile or a communication through Electronic System to the Administrative
Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by a Responsible Officer of the
Borrower Representative. Each such written (or if permitted, telephonic) Borrowing Request shall specify the following information
in compliance with Section 2.02: 

 

(i) the
aggregate amount of the requested Borrowing;

 

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

 

(iii) whether
such Borrowing is to be a CBFR Borrowing or a Eurodollar Borrowing;

 

(iv) in
the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated
by the definition of the term “Interest Period”; and

 

(v) the
location and number of the applicable Borrower's account to which funds are to be disbursed, which shall comply with the requirements
of Section 2.06.

 

If
no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a CBFR Borrowing. If no Interest Period
is specified with respect to any requested Eurodollar Revolving Borrowing, then the applicable Borrower shall be deemed to have
selected an Interest Period of one (1) month’s duration. Promptly following receipt of a Borrowing Request in accordance
with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s
Loan to be made as part of the requested Borrowing.

 

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SECTION
2.04. Swingline Loans; Overadvances and Protective Advances.
(a) The Administrative Agent, the Swingline Lender and the Revolving Lenders agree that in order to facilitate the administration
of this Agreement and the other Loan Documents, promptly after the Borrower Representative requests an CBFR Borrowing, the Swingline
Lender may elect, in its sole discretion and without any obligation, to have the terms of this Section 2.04(a) apply to such Borrowing
Request by advancing, on behalf of the Revolving Lenders and in the amount requested, same day funds to the Borrowers, on the
date of the applicable Borrowing to the Funding Account(s) (each such Loan made solely by the Swingline Lender pursuant to this
Section 2.04(a) is referred to in this Agreement as a “Swingline Loan”), with settlement among them as to the
Swingline Loans to take place on a periodic basis as set forth in Section 2.04(d). Each Swingline Loan shall be subject to all
the terms and conditions applicable to other CBFR Loans funded by the Revolving Lenders, except that all payments thereon shall
be payable to the Swingline Lender solely for its own account. In addition, the Borrowers hereby authorize the Swingline Lender
to, and the Swingline Lender may, subject to the terms and conditions set forth herein (but without any further written notice
required), not later than 1:00 p.m., Chicago time, on each Business Day, make available to the Borrowers by means of a credit
to the Funding Account(s), the proceeds of a Swingline Loan to the extent necessary to pay items to be drawn on any Controlled
Disbursement Account that Business Day; provided that, if on any Business Day there is insufficient borrowing capacity
to permit the Swingline Lender to make available to the Borrowers a Swingline Loan in the amount necessary to pay all items to
be so drawn on any such Controlled Disbursement Account on such Business Day, then the Borrowers shall be deemed to have requested
a CBFR Borrowing pursuant to Section 2.03 in the amount of such deficiency to be made on such Business Day. The aggregate amount
of Swingline Loans outstanding at any time shall not exceed $30,000,000. All Swingline Loans shall be CBFR Borrowings.

 

(b) Any
provision of this Agreement to the contrary notwithstanding, at the request of the Borrower Representative, the Administrative
Agent may in its sole discretion (but with absolutely no obligation), on behalf of the Revolving Lenders, (x) make Revolving Loans
to the Borrowers in amounts that exceed Availability (any such excess Revolving Loans are herein referred to collectively as “Overadvances”)
or (y) deem the amount of Revolving Loans outstanding to the Borrowers that are in excess of Availability to be Overadvances;
provided that, no Overadvance shall result in a Default due to Borrowers’ failure to comply with Section 2.01 for
so long as such Overadvance remains outstanding in accordance with the terms of this paragraph, but solely with respect to the
amount of such Overadvance. In addition, Overadvances may be made even if the condition precedent set forth in Section 4.02(c)
has not been satisfied. All Overadvances shall constitute CBFR Borrowings. The making of an Overadvance on any one occasion shall
not obligate the Administrative Agent to make any Overadvance on any other occasion. The authority of the Administrative Agent
to make Overadvances is limited to an aggregate amount not to exceed $30,000,000 at any time, no Overadvance may remain outstanding
for more than thirty days and no Overadvance shall cause any Revolving Lender's Revolving Exposure to exceed its Revolving Commitment;
provided that, the Required Lenders may at any time revoke the Administrative Agent’s authorization to make Overadvances.
Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt
thereof.

 

(c) Upon
the making of a Swingline Loan or an Overadvance (whether before or after the occurrence of a Default and regardless of whether
a Settlement has been requested with respect to such Swingline Loan or Overadvance), each Revolving Lender shall be deemed, without
further action by any party hereto, to have unconditionally and irrevocably purchased from the Swingline Lender or the Administrative
Agent, as the case may be, without recourse or warranty, an undivided interest and participation in such Swingline Loan or Overadvance
in proportion to its Applicable Percentage of the Revolving Commitment. The Swingline Lender or the Administrative Agent may,
at any time, require the Revolving Lenders to fund their participations. From and after the date, if any, on which any Revolving
Lender is required to fund its participation in any Swingline Loan or Overadvance purchased hereunder, the Administrative Agent
shall promptly distribute to such Lender, such Lender's Applicable Percentage of all payments of principal and interest and all
proceeds of Collateral received by the Administrative Agent in respect of such Swingline Loan or Overadvance.

 

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(d) The
Administrative Agent, on behalf of the Swingline Lender, shall request settlement (a “Settlement”) with the
Revolving Lenders on at least a weekly basis or on any date that the Administrative Agent elects, by notifying the Revolving Lenders
of such requested Settlement by facsimile, telephone, or e-mail no later than 12:00 noon Chicago time on the date of such requested
Settlement (the “Settlement Date”). Each Revolving Lender (other than the Swingline Lender, in the case of
the Swingline Loans) shall transfer the amount of such Revolving Lender’s Applicable Percentage of the outstanding principal
amount of the applicable Loan with respect to which Settlement is requested to the Administrative Agent, to such account of the
Administrative Agent as the Administrative Agent may designate, not later than 2:00 p.m., Chicago time, on such Settlement Date.
Settlements may occur during the existence of a Default and whether or not the applicable conditions precedent set forth in Section
4.02 have then been satisfied. Such amounts transferred to the Administrative Agent shall be applied against the amounts of the
Swingline Lender’s Swingline Loans and, together with Swingline Lender’s Applicable Percentage of such Swingline Loan,
shall constitute Revolving Loans of such Revolving Lenders, respectively. If any such amount is not transferred to the Administrative
Agent by any Revolving Lender on such Settlement Date, the Swingline Lender shall be entitled to recover from such Lender on demand
such amount, together with interest thereon, as specified in Section 2.06.

 

(e) Subject
to the limitations set forth below, the Administrative Agent is authorized by the Borrowers and the Lenders, from time to time
in the Administrative Agent’s sole discretion (but shall have absolutely no obligation to), to make Loans to the Borrowers,
on behalf of all Lenders, which the Administrative Agent, in its Permitted Discretion, deems necessary or desirable (i) to preserve
or protect the Collateral, or any portion thereof, (ii) to enhance the likelihood of, or maximize the amount of, repayment of
the Loans and other Obligations, or (iii) to pay any other amount chargeable to or required to be paid by the Borrowers pursuant
to the terms of this Agreement, including payments of reimbursable expenses (including costs, fees, and expenses as described
in Section 9.03) and other sums payable under the Loan Documents (any of such Loans are herein referred to as “Protective
Advances”); provided that, the aggregate amount of Protective Advances outstanding at any time shall not at any time exceed
$30,000,000; provided further that, the aggregate Revolving Exposure of all Lenders after giving effect to the Protective Advances
being made shall not exceed the aggregate Revolving Commitments of all Lenders. Protective Advances may be made even if the conditions
precedent set forth in Section 4.02 have not been satisfied. The Protective Advances shall be secured by the Liens in favor of
the Administrative Agent in and to the Collateral and shall constitute Obligations hereunder. All Protective Advances shall be
CBFR Borrowings. The making of a Protective Advance on any one occasion shall not obligate the Administrative Agent to make any
Protective Advance on any other occasion. The Administrative Agent’s authorization to make Protective Advances may be revoked
at any time by the Required Lenders. Any such revocation must be in writing and shall become effective prospectively upon the
Administrative Agent’s receipt thereof. At any time that there is sufficient Availability and the conditions precedent set
forth in Section 4.02 have been satisfied, the Administrative Agent may request the Revolving Lenders to make a Revolving Loan
to repay a Protective Advance. At any other time the Administrative Agent may require the Lenders to fund their risk participations
described in Section 2.04(f).

 

(f) Upon
the making of a Protective Advance by the Administrative Agent (whether before or after the occurrence of a Default), each Lender
shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the Administrative
Agent, without recourse or warranty, an undivided interest and participation in such Protective Advance in proportion to its Applicable
Percentage. From and after the date, if any, on which any Lender is required to fund its participation in any Protective Advance
purchased hereunder, the Administrative Agent shall promptly distribute to such Lender, such Lender's Applicable Percentage of
all payments of principal and interest and all proceeds of Collateral received by the Administrative Agent in respect of such
Protective Advance.

 

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(g) Notwithstanding
anything in this Section 2.04 to the contrary, references in this Section 2.04 to a “Lender” or “Lenders”
shall be to a “Revolving Lender” or “Revolving Lenders”, respectively.

 

SECTION
2.05. Letters of Credit. (a) General.
Subject to the terms and conditions set forth herein, the Borrower Representative, on behalf of the Borrowers, may request the
issuance of Letters of Credit as the applicant thereof for the support of the obligations of any Borrower or any Subsidiary thereof,
in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the
Revolving Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms
and conditions of any Letter of Credit Agreement, the terms and conditions of this Agreement shall control. Upon the effectiveness
of this Agreement, each Existing Letter of Credit shall, without any further action by any party, be deemed to have been issued
as a Letter of Credit hereunder on the Effective Date and shall for all purposes hereof be treated as a Letter of Credit under
this Agreement. Notwithstanding anything herein to the contrary, the Issuing Bank shall have no obligation hereunder to issue,
and shall not issue, any Letter of Credit (i) the proceeds of which would be made available to any Person (A) to fund any activity
or business of or with any Sanctioned Person, or in any country or territory that, at the time of such funding, is the subject
of any Sanctions or (B) in any manner that would result in a violation of any Sanctions by any party to this Agreement, (ii) if
any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the
Issuing Bank from issuing such Letter of Credit, or any Requirement of Law relating to the Issuing Bank or any request or directive
(whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall prohibit,
or request that the Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular
or shall impose upon the Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for
which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the Issuing
Bank any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the Issuing Bank in good
faith deems material to it, or (iii) if the issuance of such Letter of Credit would violate one or more policies of the Issuing
Bank applicable to letters of credit generally; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives thereunder or issued
in connection therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed not
to be in effect on the Effective Date for purposes of clause (ii) above, regardless of the date enacted, adopted, issued or implemented.

 

(b) Notice
of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall hand deliver or facsimile (or transmit
through Electronic System, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative
Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than
three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance
of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall
comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary
thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. In addition,
as a condition to any such Letter of Credit issuance, the applicable Borrower shall have entered into a continuing agreement (or
other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application, in
each case, as required by the Issuing Bank and using such Issuing Bank’s standard form (each, a “Letter of Credit
Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal
or extension of each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving effect to such
issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $1,000,000, and (ii) the total Revolving
Exposures shall not exceed the total Revolving Commitments.

 

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(c) Expiration
Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one (1)
year after the date of the issuance of such Letter of Credit or such later date as may be agreed to by the Issuing Bank (or, in
the case of any renewal or extension thereof, one (1) year after such renewal or extension, or such later date agreed to by the
Issuing Bank) and (ii) the date that is five (5) Business Days prior to the Revolving Termination Date.

 

(d) Participations.
By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further
action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires
from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate
amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby
absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s
Applicable Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrowers on the date due as
provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrowers for any
reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect
of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of an Event of Default or reduction or termination
of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.
Notwithstanding the foregoing, a Lender shall not have any obligation to acquire a participation in a Letter of Credit pursuant
to this paragraph if an Event of Default shall have occurred and be continuing at the time such Letter of Credit was issued and
such Lender shall have notified the Issuing Bank in writing, at least one (1) Business Day prior to the time such Letter of Credit
was issued, that such Event of Default has occurred and that such Lender will not acquire participations in Letters of Credit
issued while such Event of Default is continuing.

 

(e) Reimbursement.
If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrowers shall reimburse such LC Disbursement
by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 p.m., eastern time, on the
date that such LC Disbursement is made, if the Borrower Representative shall have received notice of such LC Disbursement prior
to 8:00 a.m., eastern time, on such date, or, if such notice has not been received by the Borrower Representative prior to such
time on such date, then not later than 12:00 p.m., eastern time, on (i) the Business Day that the Borrower Representative
receives such notice, if such notice is received prior to 8:00 a.m., eastern time, on the day of receipt, or (ii) the Business
Day immediately following the day that the Borrower Representative receives such notice, if such notice is not received prior
to such time on the day of receipt; provided that the Borrowers may, subject to the conditions to borrowing set forth herein,
request in accordance with Section 2.03 or 2.04 that such payment be financed with a CBFR Revolving Borrowing or Swingline
Loan in an equivalent amount and, to the extent so financed, the Borrowers’ obligation to make such payment shall be discharged
and replaced by the resulting CBFR Revolving Borrowing or Swingline Loan. If the Borrowers fail to make such payment when due,
the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrowers in
respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender
shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrowers, in the same manner
as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis,
to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so
received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant
to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Lenders have
made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests
may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other
than the funding of CBFR Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and shall not
relieve the Borrowers of their obligation to reimburse such LC Disbursement.

 

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(f) Obligations
Absolute. The Borrowers’ obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement
under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of
Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein, (ii) any draft or other document
presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue
or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft
or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever,
whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable
discharge of, or provide a right of setoff against, the Borrowers’ obligations hereunder. Neither the Administrative Agent,
the Lenders nor the Issuing Bank, nor any of their respective Related Parties, shall have any liability or responsibility by reason
of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder
(irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or
delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including
any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising
from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing
Bank from liability to the Borrowers to the extent of any direct damages (as opposed to special, indirect, consequential or punitive
damages, claims in respect of which are hereby waived by the Borrowers to the extent permitted by applicable law) suffered by
any Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction),
the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without
limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be
in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and
make payment upon such documents without responsibility for further investigation, regardless of any notice or information to
the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the
terms of such Letter of Credit.

 

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

 

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(h) Interim
Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrowers shall reimburse such LC Disbursement
in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including
the date such LC Disbursement is made to but excluding the date that the Borrowers reimburse such LC Disbursement, at the rate
per annum then applicable to CBFR Revolving Loans; provided that, if the Borrowers fail to reimburse such LC Disbursement when
due pursuant to paragraph (e) of this Section, then Section 2.12(d) shall apply. Interest accrued pursuant to this paragraph
shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant
to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such
payment.

 

(i) Replacement
of the Issuing Bank. Any Issuing Bank may be replaced at any time by written agreement among the Borrower Representative,
the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the
Lenders of any such replacement of the Issuing Bank. At the time any such replacement shall become effective, the Borrowers shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.11(b). From and after the
effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing
Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term
“Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and
all previous Issuing Banks, as the context shall require. After the replacement of the Issuing Bank hereunder, the replaced Issuing
Bank shall remain a party hereto and shall continue to have all the rights and obligations of the Issuing Bank under this Agreement
with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters
of Credit. Subject to the appointment and acceptance of a successor Issuing Bank, the Issuing Bank may resign as an Issuing Bank
at any time upon thirty (30) days’ prior written notice to the Administrative Agent, the Borrowers and the Lenders, in which
case, such resigning Issuing Bank shall be replaced in accordance with this Section 2.05(i).

 

(j) Cash
Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Borrower Representative
receives notice from the Administrative Agent or the Required Lenders (or Lenders with LC Exposure representing greater than 50%
of the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the Borrowers shall deposit in
an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders (the “LC
Collateral Account”), an amount in cash equal to 105% of the amount of the LC Exposure as of such date plus accrued and
unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and
such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any
Event of Default described in clause (h) or (i) of Article VII with respect to any Borrower. Such deposit shall
be held by the Administrative Agent as collateral for the payment and performance of the Secured Obligations. The Administrative
Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account and the Borrowers
hereby grant the Administrative Agent a security interest in the LC Collateral Account. Such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by
the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent
not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrowers for the LC Exposure at such
time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing
greater than 50% of the total LC Exposure), be applied to satisfy other Secured Obligations. If the Borrowers are required to
provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent
not applied as aforesaid) shall be returned to the Borrowers within three (3) Business Days after all such Events of Default have
been cured or waived.

 

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(k) LC
Exposure Determination. For all purposes of this Agreement, the amount of a Letter of Credit that, by its terms or the terms
of any document related thereto, provides for one or more automatic increases in the stated amount thereof shall be deemed to
be 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 the time of determination.

 

(l) Lender
References. Notwithstanding anything in this Section 2.05 to the contrary, references in this Section 2.05 to a “Lender”
or “Lenders” shall be to a “Revolving Lender” or “Revolving Lenders”, respectively.

 

(m) Letters
of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder supports
any obligations of, or is for the account of, a Subsidiary, or states that a Subsidiary is the “account party,” “applicant,”
“customer,” “instructing party,” or the like of or for such Letter of Credit, and without derogating from
any rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary
in respect of such Letter of Credit, the Borrowers (i) shall reimburse, indemnify and compensate the applicable Issuing Bank hereunder
for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued
solely for the account of such Borrower and (ii) irrevocably waives any and all defenses that might otherwise be available to
it as a guarantor or surety of any or all of the obligations of such Subsidiary in respect of such Letter of Credit. Each Borrower
hereby acknowledges that the issuance of such Letters of Credit for its Subsidiaries inures to the benefit of such Borrower, and
that such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

 

SECTION
2.06. Funding of Borrowings. (a) Each
Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available
funds by 11:00 a.m., eastern time, in the case of a Eurodollar Borrowing, and by 2:00 p.m., eastern time, in the case of a CBFR
Borrowing, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders
in an amount equal to such Lender’s Applicable Percentage; provided that Swingline Loans shall be made as provided in Section 2.04.
The Administrative Agent will make such Loans available to the applicable Borrower by promptly crediting the amounts so received,
in like funds, to the Funding Account; provided that CBFR Revolving Loans made to finance the reimbursement of (i) an LC Disbursement
as provided in Section 2.05(e) shall be remitted by the Administrative Agent to the Issuing Bank and (ii) a Protective Advance
or an Overadvance shall be retained by the Administrative Agent.

 

(b) Unless
the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing in the case of a
Eurodollar Borrowing and prior to 2:00 p.m., eastern time, on the proposed date of any Borrowing in the case of a CBFR Borrowing,
that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section
and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if
a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable
Lender and the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount
with interest thereon, for each day from and including the date such amount is made available to the applicable Borrower to but
excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal
Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of a Borrower, the interest rate applicable to CBFR Loans. If such Lender pays such amount
to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing; provided,
that any interest received from the Borrowers by the Administrative Agent during the period beginning when Administrative Agent
funded the Borrowing until such Lender pays such amount shall be solely for the account of the Administrative Agent.

 

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SECTION
2.07. Interest Elections. (a) Each
Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing,
shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to
convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect
Interest Periods therefor, all as provided in this Section. The Borrowers may elect different options with respect to different
portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall
not apply to Swingline Borrowings, which may not be converted or continued. 

 

(b) To
make an election pursuant to this Section, the Borrower Representative shall notify the Administrative Agent of such election
either in writing (delivered by hand or fax) by delivering an Interest Election Request signed by a Responsible Officer of the
Borrower Representative or through Electronic System if arrangements for doing so have been approved by the Administrative Agent
(or if an Extenuating Circumstance shall exist, by telephone) by the time that a Borrowing Request would be required under Section
2.03 if the Borrowers were requesting a Borrowing of the Type resulting from such election to be made on the effective date of
such election. Each such Interest Election Request shall be irrevocable and each such telephonic Interest Election Request, if
permitted, shall be confirmed immediately upon the cessation of the Extenuating Circumstance by hand delivery, Electronic System
or facsimile to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent
and signed by a Responsible Officer of the Borrower Representative.

 

(c) Each
written (or if permitted, telephonic) Interest Election Request (including requests submitted through Electronic System) shall
specify the following information in compliance with Section 2.02:

 

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

 

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

 

(iii) whether
the resulting Borrowing is to be a CBFR Borrowing or a Eurodollar Borrowing; and

 

(iv) if
the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election,
which shall be a period contemplated by the definition of the term “Interest Period”.

 

If
any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the applicable
Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.

 

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

 

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(e) If
the applicable Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the
end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest
Period such Borrowing shall be converted to a CBFR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default
has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the applicable
Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued
as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to a CBFR Borrowing at the
end of the Interest Period applicable thereto.

 

SECTION
2.08. Termination and Reduction of Commitments.
(a) Unless previously terminated, the Revolving Commitments shall terminate on the Revolving Termination Date.

 

(b) The
Borrowers may at any time terminate the Revolving Commitments upon (i) the payment in full of all outstanding Revolving Loans,
together with accrued and unpaid interest thereon and on any Letters of Credit and (ii) the cancellation and return of all
outstanding Letters of Credit (or alternatively, with respect to each such Letter of Credit, the furnishing to the Administrative
Agent of a cash deposit (or at the Permitted Discretion of the Administrative Agent a back-up standby letter of credit satisfactory
to the Administrative Agent) equal to the LC Exposure as of such date).

 

(c) The
Borrowers may from time to time reduce the Commitments; provided that (i) each reduction of the Commitments shall be in
an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and shall reduce all Commitments of any Class
on a pro rata basis and (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to
any concurrent prepayment of the Revolving Loans in accordance herewith, the aggregate Revolving Exposure would exceed the lesser
of the aggregate Revolving Commitments and the Revolving Borrowing Base.

 

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

 

SECTION
2.09. Repayment and Amortization of Loans; Evidence of Debt.
(a) The Borrowers hereby jointly and severally unconditionally promise to pay: (i) to the Administrative Agent for the
account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Termination Date, (ii) to
the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earliest of (x) the Revolving Termination
Date, (y) the date five (5) Business Days after demand by the Swingline Lender in its reasonable discretion if no Event of Default
exists and (z) the demand by the Swingline Lender in its discretion if an Event of Default exists, (iii) to the Administrative
Agent the then unpaid amount of each Protective Advance on the earlier of the Revolving Termination Date and demand by the Administrative
Agent to the Administrative Agent, and (iv) the then unpaid principal amount of each Overadvance on the earlier of the Revolving
Termination Date and demand by the Administrative Agent.

 

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(b) At
all times during any Cash Dominion Period, on each Business Day, the Administrative Agent shall apply all funds credited to the
Collection Account on such Business Day or the immediately preceding Business Day (at the discretion of the Administrative Agent,
whether or not immediately available) first to prepay any Protective Advances and Overadvances that may be outstanding,
pro rata, and second to prepay the Revolving Loans (including Swingline Loans) and to cash collateralize outstanding LC
Exposure. Notwithstanding the foregoing, to the extent any funds credited to the Collection Account constitute Net Cash Proceeds
in respect of any Prepayment Event, the application of such Net Cash Proceeds shall be subject to Section 2.10(e).

 

(c) Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrowers
to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid
to such Lender from time to time hereunder.

 

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

 

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

 

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

 

SECTION
2.10. Prepayment of Loans. (a) Each
Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part without premium or
penalty but subject to breakfunding payments required pursuant to Section 2.15 and subject to prior notice in accordance
with paragraph (e) of this Section.

 

(b) Except
for Overadvances permitted hereunder, in the event and on such occasion that the total Revolving Exposure exceeds the lesser of
(A) the aggregate Revolving Commitments or (B) the Revolving Borrowing Base, the Borrowers shall jointly and severally unconditionally
prepay the Revolving Exposure in an aggregate amount equal to such excess.

 

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(c) In
the event and on each occasion that any Net Cash Proceeds are received by or on behalf of any Loan Party or any Subsidiary in
respect of any Prepayment Event, the Borrowers shall, promptly after such Net Cash Proceeds are received by any Loan Party or
Subsidiary, jointly and severally unconditionally prepay the Credit Exposure in an aggregate amount equal to 100% of such Net
Cash Proceeds; provided that, in the case of any event described in clause (a) or (b) of the definition of the term "Prepayment
Events", if the Borrower Representative delivers to the Administrative Agent a certificate of a Financial Officer to the
effect that the Loan Parties intend to apply the Net Cash Proceeds from such event (or a portion thereof specified in such certificate),
within 180 days after receipt of such Net Cash Proceeds, to acquire (or replace or rebuild) real property, equipment or other
tangible assets to be used in the business of the Loan Parties, and certifying that no Default has occurred and is continuing,
then either (i) so long as a Cash Dominion Period is not in effect, no prepayment shall be required pursuant to this paragraph
in respect of the Net Cash Proceeds specified in such certificate or (ii) if a Cash Dominion Period is in effect, then, if the
Net Cash Proceeds specified in such certificate are to be applied to acquire, replace or rebuild such assets by (A) the Borrowers,
such Net Cash Proceeds shall be applied by the Administrative Agent to reduce the outstanding principal balance of the Revolving
Loans (without a permanent reduction of the Revolving Commitment) and upon such application, the Administrative Agent shall establish
a Reserve against the Revolving Borrowing Base in an amount equal to the amount of such proceeds so applied and (B) any Loan Party
that is not a Borrower, such Net Cash Proceeds shall be deposited in a cash collateral account, and in the case of either (A)
or (B), thereafter, such funds shall be made available to the applicable Loan Party as follows:

 

(1) the
Borrower Representative shall request a Revolving Borrowing (specifying that the request is to use Net Cash Proceeds pursuant
to this Section) or the applicable Loan Party shall request a release from the cash collateral account be made in the amount needed;

 

(2) so
long as the conditions set forth in Section 4.02 have been met, the Revolving Lenders shall make such Revolving Borrowing; and

 

(3) the
Reserve established with respect to such insurance proceeds shall be reduced by the amount of such Revolving Borrowing;

 

provided
that to the extent of any such Net Cash Proceeds therefrom that have not been so used to acquire (or replace or rebuild) real
property, equipment or other tangible assets to be used in the business of the Loan Parties (or committed to be so used) by the
end of such 180-day period, a prepayment shall be required at such time in an amount equal to such Net Cash Proceeds that have
not been so applied. Notwithstanding anything herein to the contrary, any prepayment as a result of a Prepayment Event under clause
(c) of the definition of Prepayment Event shall reduce the Revolving Commitments by the amount of such prepayment.

 

(d) [intentionally
reserved].

 

(e) The
applicable Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender)
by telephone (confirmed by facsimile) or through Electronic System, if arrangements for doing so have been approved by the Administrative
Agent, of any prepayment hereunder (i) noon, Chicago time, (A) in the case of prepayment of a Eurodollar Borrowing, three
(3) Business Days before the date of prepayment, or (B) in the case of prepayment of a CBFR Borrowing, one (1) Business Day before
the date of prepayment or (ii) in the case of prepayment of a Swingline Loan, not later than 11:00 a.m., eastern time, on
the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of
each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional
notice of termination of the related Commitments as contemplated by Section 2.08, then such notice of prepayment may be revoked
if such notice of termination is revoked in accordance with Section 2.08. Promptly following receipt of any such notice relating
to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing
shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02.
Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing, in each case any such
prepayments shall be accompanied by (i) accrued interest to the extent required by Section 2.12 and (ii) any breakfunding
payments required pursuant to Section 2.15.

 

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(f) All
prepayments under Sections 2.10(c), (d) or (e) shall be applied to the Revolving Exposure until paid in full (with no corresponding
reduction in the Revolving Commitments, except any prepayment as a result of clause (d) of the definition of “Prepayment
Events" will reduce the Revolving Commitments by a corresponding amount). Within the parameters of the applications set forth
above, prepayments shall be applied first to CBFR Loans and then to Eurodollar Loans (in the case of Eurodollar Loans, in direct
order of Interest Period maturities).

 

SECTION
2.11. Fees. (a) The Borrowers jointly
and severally agree to pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at
a per annum rate equal to the Applicable Margin on the average daily amount of the Available Revolving Commitment of such Lender
during the period from and including the Effective Date to but excluding the date on which such Lender’s Revolving Commitment
terminate. Accrued commitment fees shall be payable in arrears on the first day of each month and on the date on which any of
the Revolving Commitments terminate, as applicable, commencing on the first such date to occur after the date hereof. All commitment
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). 

 

(b) The
Borrowers jointly and severally agree to pay (i) to the Administrative Agent for the account of each Lender a participation
fee with respect to its participations in Letters of Credit, which shall accrue at a rate per annum equal to the Applicable Margin
on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC
Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s
Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing
Bank (x) a fronting fee, which shall accrue at the rate of 0.25% (or such other percentage as is agreed upon by the Issuing Bank
and the Borrowers) per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed
LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of termination
of the Revolving Commitments and the date on which there ceases to be any LC Exposure and (y) the Issuing Bank’s standard
fees and commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension
of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued shall be payable in
arrears on the first day of each month, commencing on the first such date to occur after the Effective Date; provided that
all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date
on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to
this paragraph shall be payable within ten (10) days after demand. All participation fees and fronting fees shall be computed
on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding
the last day).

 

(c) The
Borrowers jointly and severally agree to pay to the Administrative Agent for its own account, fees payable in the amounts and
at the times separately agreed upon in writing between the Borrowers and the Administrative Agent.

 

(d) All
fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the
Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the
Lenders. Fees paid shall not be refundable under any circumstances.

 

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SECTION
2.12. Interest. 

 

(a)
Revolving Credit Loans that are (i) CBFR Borrowings shall bear interest at the CB Floating Rate plus the Applicable Margin
and (ii) Eurodollar Borrowings shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such
Borrowing plus the Applicable Margin. Each Swingline Loan shall bear interest at the CBFR plus the Applicable Margin, other
than Swingline Loans for which an alternate interest rate is agreed upon between the Borrowers and the Swingline Lender
(which shall bear interest at such rate). Each Protective Advance and each Overadvance shall bear interest at the CBFR plus
the Applicable Margin plus 2%.

 

(b)Notwithstanding the foregoing or anything else in this Agreement to the contrary, (x)
for purposes of the interest rate on all Loans outstanding and the fees under Section 2.11(b)(i) on all Letters of Credit
outstanding, the Applicable Margin (other than with respect to commitment fees) shall be increased by 3% and (y) interest
shall accrue on all other amounts outstanding hereunder that are due hereunder at 3% plus the rate applicable to CBFR Loans
as provided in paragraph (a) of this Section, in each case:

 

(i) automatically
upon the occurrence of any Event of Default under clauses (h) or (i) of Article VII until such Event of Default is no longer continuing;
and

 

(ii) in
the event any other Event of Default is continuing, upon a declaration by the Required Lenders (at their option) by written notice
to the Borrowers that they elect to have such interest and fees accrue until such Event of Default is no longer continuing or
such notice is revoked by Required Lenders (which revocation shall be at the option of Required Lenders notwithstanding any provision
of Section 9.02).

 

(c) Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the related
Commitments; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable on
demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of a CBFR Revolving Loan),
accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in
the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest
on such Loan shall be payable on the effective date of such conversion.

 

(d) All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the
CB Floating Rate at times when the CB Floating Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days
(or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first
day but excluding the last day), and payable jointly and severally by the Borrowers. The applicable CB Floating Rate, Adjusted
LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest
error.

 

SECTION
2.13. Alternate Rate of Interest; Illegality.

 

(a) If
prior to the commencement of any Interest Period for a Eurodollar Borrowing:

 

(i)
the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that adequate
and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including, without
limitation, by means of an Interpolated Rate or because the LIBO Screen Rate is not available or published on a current
basis) for such Interest Period; provided that no Benchmark Transition Event shall have occurred at such time; or

 

(ii)
the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for
such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining
their Loans (or Loan) included in such Borrowing for such Interest Period;

 

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then
the Administrative Agent shall give notice thereof to the Borrower Representative and the Lenders through Electronic System as
provided in Section 9.01 as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower Representative
and the Lenders that the circumstances giving rise to such notice no longer exist, (A) any Interest Election Request that requests
the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and any such
Eurodollar Borrowing shall be repaid or converted into a CBFR Borrowing on the last day of the then current Interest Period applicable
thereto, and (B) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as a CBFR Borrowing.

 

(b) If
any Lender determines that any Requirement of Law has made it unlawful, or if any Governmental Authority has asserted that it
is unlawful, for any Lender or its applicable lending office to make, maintain, fund or continue any Eurodollar Borrowing, or
any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits
of, dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower Representative through the
Administrative Agent, any obligations of such Lender to make, maintain, fund or continue Eurodollar Loans or to convert CBFR Borrowings
to Eurodollar Borrowings will be suspended until such Lender notifies the Administrative Agent and the Borrowers that the circumstances
giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower Representative will upon demand from
such Lender (with a copy to the Administrative Agent), either prepay or convert all Eurodollar Borrowings of such Lender to CBFR
Borrowings, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar
Borrowings to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans. Upon any such prepayment
or conversion, the Borrowers will also pay accrued interest on the amount so prepaid or converted.

 

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

 

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

 

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(e) The
Administrative Agent will promptly notify the Borrower Representative and the Lenders of (i) any occurrence of a Benchmark Transition
Event or an Early Opt-in Election, as applicable, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness
of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period.
Any determination, decision or election that may be made by the Administrative Agent or Lenders pursuant to this Section 2.13,
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance
or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may
be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required
pursuant to this Section 2.13.

 

(f) Upon
the Borrower Representative’s receipt of notice of the commencement of a Benchmark Unavailability Period, (i) any Interest
Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing
shall be ineffective and any such Eurodollar Borrowing shall be repaid or converted into a CBFR Borrowing on the last day of the
then current Interest Period applicable thereto, and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing
shall be made as a CBFR Borrowing.

 

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

 

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

 

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

 

(iii) subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto;

 

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

 

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

 

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

 

(d) Failure
or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section shall not constitute a
waiver of such Lender's or the Issuing Bank's right to demand such compensation; provided that the Borrowers shall not be required
to compensate a Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than two
hundred seventy (270) days prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Borrowers
of the Change in Law giving rise to such increased costs or reductions and of such Lender's or the Issuing Bank's intention to
claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the two hundred seventy (270)-day period referred to above shall be extended to include the period of retroactive
effect thereof.

 

SECTION
2.15. Break Funding Payments. In the event
of (a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto
(including as a result of an Event of Default or any replacement of Revolving Loans due to a re-allocation under the last paragraph
of Section 2.04), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable
thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered
pursuant hereto (regardless of whether such notice may be revoked under Section 2.08(d) and is revoked in accordance therewith),
or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result
of a request by a Borrower pursuant to Section 2.18, then, in any such event, the applicable Borrower shall compensate each Lender
for the loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any
Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest
which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would
have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period
for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest
rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount
and period from other banks in the eurodollar market. A certificate in reasonable detail of any Lender setting forth any amount
or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers and shall be conclusive
absent manifest error. The Borrowers shall pay such Lender the amount shown as due on any such certificate within ten (10) days
after receipt thereof.

 

SECTION
2.16. Taxes. (a) Withholding Taxes;
Gross-Up; Payments Free of Taxes. Any and all payments by or on account of any obligation of any Borrower under any Loan Document
shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as
determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from
any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding
and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable
law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Borrower shall be increased as necessary so
that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums
payable under this Section 2.16), the applicable Recipient receives an amount equal to the sum it would have received had no such
deduction or withholding been made.

 

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(b) Payment
of Other Taxes by the Borrowers. The Borrowers shall timely pay to the relevant Governmental Authority in accordance with
applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.

 

(c) Evidence
of Payment. As soon as practicable after any payment of Taxes by the Borrowers to a Governmental Authority pursuant to this
Section 2.16, the Borrower Representative shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment, or other evidence
of such payment reasonably satisfactory to the Administrative Agent.

 

(d) Indemnification
by the Borrowers. The Borrowers shall jointly and severally indemnify each Recipient, within ten (10) days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower Representative 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.

 

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

 

(f) Status
of Lenders.

 

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

 

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(ii) Without
limiting the generality of the foregoing, in the event that any Borrower is a U.S. Person,

 

(A)
 any Lender that is a U.S. Person shall deliver to the Borrower Representative and the
Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the reasonable request of the Borrower Representative or the Administrative Agent), an executed copy of IRS Form
W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

 

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

 

(1)
 in the case of a Foreign Lender claiming the benefits of an income tax treaty to which
the U.S. is a party (x) with respect to payments of interest under any Loan Document, an executed copy of IRS Form W-8BEN or IRS
Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest”
article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS
Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business
profits” or “other income” article of such tax treaty;

 

(2)
 in the case of a Foreign Lender claiming that its extension of credit will generate
U.S. effectively connected income, an executed copy of IRS Form W-8ECI;

 

(3)
 in the case of a Foreign Lender claiming the benefits of the exemption for portfolio
interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit C-1 to the effect that
such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder”
of a Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) an executed IRS Form W-8BEN
or IRS Form W-8BEN-E, as applicable; or

 

(4)
 to the extent a Foreign Lender is not the Beneficial Owner, an executed IRS Form W-8IMY,
accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially
in the form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or other certification documents from each Beneficial
Owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such
Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate
substantially in the form of Exhibit C-4 on behalf of each such direct and indirect partner;

 

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(C)
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower Representative and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower Representative or
the Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed
by applicable law to permit the Borrower Representative or the Administrative Agent to determine the withholding or deduction
required to be made; and

 

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

 

Each
Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify the Borrower Representative and the Administrative Agent in writing
of its legal inability to do so.

 

(g) Treatment
of Certain Refunds. If any party determines, in its discretion exercised in good faith, that it has received a refund of any
Taxes as to which it has been indemnified pursuant to this Section 2.16 (including by the payment of additional amounts pursuant
to this Section 2.16), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section 2.16 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any
amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less
favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving
rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts
giving rise to such refund had never been paid. This paragraph (g) shall not be construed to require any indemnified party to
make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying
party or any other Person.

 

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(h) Survival.
Each party’s obligations under this Section 2.16 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Loan Document.

 

(i) Defined
Terms. For purposes of this Section 2.16, the term “Lender” includes any Issuing Bank and the term “applicable
law” includes FATCA.

 

SECTION
2.17. Payments Generally; Allocation of Proceeds; Sharing of Set-offs.
(a) The Borrowers shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement
of LC Disbursements, or of amounts payable under Section 2.14, 2.15 or 2.16, or otherwise) prior to 1:00 p.m., eastern time,
on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on
any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day
for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at such office designated
by the Administrative Agent, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly provided
herein and except that any payment pursuant to Section 2.14, 2.15, 2.16 or 9.03 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the
appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest,
interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars.

  

(b) Notwithstanding
anything herein to the contrary, all payments and any proceeds of Collateral or payments on Loan Party Guaranties received by
the Administrative Agent (i) not constituting either (A) a specific payment of principal, interest, fees or other sum
payable under the Loan Documents (which shall be applied as specified by the Borrowers), (B) a mandatory prepayment (which
shall be applied in accordance with Section 2.10) or (C) amounts to be applied from the Collection Account during a Cash
Dominion Period (which shall be applied in accordance with Section 2.09(d)) or (ii) after an Event of Default has occurred
and is continuing and the Administrative Agent so elects or the Required Lenders so direct, such funds shall be applied ratably
in the following order (and applied at each level until the Secured Obligations at that level are paid in full before proceeding
the next lower level) as follows:

 

first,
to pay any fees, indemnities, or expense reimbursements including amounts then due to the Administrative Agent and the Issuing
Bank from the Borrowers (other than in connection with Secured Swap Obligations),

 

second,
to pay any fees or expense reimbursements then due to the Lenders from the Borrowers (other than in connection with Secured Swap
Obligations),

 

third,
to pay interest and principal then due and payable on the Loans, unreimbursed LC Disbursements and to pay an amount to the Administrative
Agent equal to the aggregate undrawn face amount of all outstanding Letters of Credit to be held as cash collateral for such Obligations,
ratably (with amounts applied to the any Loans applied to any installments due on any Loans in inverse order of maturity),

 

fourth,
to payment of any amounts owing with respect to Secured Swap Obligations and Banking Services Obligations (all such amounts under
this “fourth” item being applied ratably in accordance with all such amounts due),

 

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fifth,
to the payment of any other Secured Obligation due to the Administrative Agent or any Lender or any of their Affiliates by any
Borrower, and

 

sixth,
to the payment of the surplus, if any, to the Borrowers or whoever else may be lawfully entitled to receive such surplus.

 

Notwithstanding
anything to the contrary contained in this Agreement, unless so directed by the Borrowers, or unless an Event of Default is in
existence, none of the Administrative Agent or any Lender shall apply any payment which it receives to any Eurodollar Loan of
a Class, except (a) on the expiration date of the Interest Period applicable to any such Eurodollar Loan or (b) in the
event, and only to the extent, that there are no outstanding CBFR Loans of the same Class and, in any event, the Borrowers shall
pay any break funding payment required pursuant to Section 2.15. The Administrative Agent and the Lenders shall have the
continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Secured
Obligations. Notwithstanding the foregoing, Secured Obligations arising under Banking Services Obligations or Swap Agreement Obligations
shall be excluded from the application described above and paid in clause fifth if the Administrative Agent has not received written
notice thereof (other than with respect to Banking Services Obligations or Swap Agreement Obligations held by any JPMCB Party,
of which the Administrative Agent shall be deemed to automatically have received notice thereof), together with such supporting
documentation as the Administrative Agent may have reasonably requested from the applicable provider of such Banking Services
or Swap Agreements.

 

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

 

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

 

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(e) If
any Lender shall fail to make any payment required to be made by it pursuant to Section 2.04(c), 2.05(d) or (e), 2.06(b), 2.17(c)
or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any
amounts thereafter received by the Administrative Agent for the account of such Lender for the benefit of the Administrative Agent,
the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations to it under such Section until all such unsatisfied
obligations are fully paid, and/or (ii) hold any such amounts in a segregated account as cash collateral for, and application
to, any future funding obligations of such Lender under any such Section, in the case of each of clauses (i) and (ii) above, in
any order as determined by the Administrative Agent in its discretion.

 

(f) The
Administrative Agent may from time to time provide the Borrowers with account statements or invoices with respect to any of the
Secured Obligations (the “Statements”). The Administrative Agent is under no duty or obligation to provide
Statements, which, if provided, will be solely for the Borrowers’ convenience. Statements may contain estimates of the amounts
owed during the relevant billing period, whether of principal, interest, fees or other Secured Obligations. If the Borrowers pay
the full amount indicated on a Statement on or before the due date indicated on such Statement, the Borrowers shall not be in
default of payment with respect to the billing period indicated on such Statement; provided, that acceptance by the Administrative
Agent, on behalf of the Lenders, of any payment that is less than the total amount actually due at that time (including but not
limited to any past due amounts) shall not constitute a waiver of the Administrative Agent’s or the Lenders’ right
to receive payment in full at another time.

 

(g) At
the election of the Administrative Agent, all payments of principal, interest, LC Disbursements, fees, premiums, reimbursable
expenses (including, without limitation, all reimbursement for fees, costs and expenses pursuant to Section 9.03), and other sums
payable under the Loan Documents, may be paid from the proceeds of Borrowings made hereunder, whether made following a request
by the Borrower Representative pursuant to Section 2.03 or 2.04 or a deemed request as provided in this Section or may be deducted
from any deposit account of the Borrowers maintained with the Administrative Agent. The Borrowers hereby irrevocably authorize
(i) the Administrative Agent to make a Borrowing for the purpose of paying each payment of principal, interest and fees as it
becomes due hereunder or any other amount due under the Loan Documents and agrees that all such amounts charged shall constitute
Loans (including Swingline Loans and Overadvances, but such a Borrowing may only constitute a Protective Advance if it is to reimburse
costs, fees and expenses as described in Section 9.03) and that all such Borrowings shall be deemed to have been requested pursuant
to Section 2.03 or 2.04, as applicable, and (ii) the Administrative Agent to charge any deposit account of any Borrower maintained
with the Administrative Agent for each payment of principal, interest and fees as it becomes due hereunder or any other amount
due under the Loan Documents.

 

SECTION
2.18. Mitigation Obligations; Replacement of Lenders.

 

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

 

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(b) If
any Lender (i) shall become affected by any of the changes or events described in Section 2.14 or 2.16 and a Borrower
is required to pay additional amounts or make indemnity payments with respect to the Lender thereunder, (ii) is a Defaulting Lender
or (iii) or, subject to the conditions set forth in Section 9.02, is a Non-Consenting Lender (any such Lender in subparts (i),
(ii), or (iii) being hereinafter referred to as a “Departing Lender”), then in such case, the Borrowers may,
upon at least five (5) Business Days’ notice to the Administrative Agent and such Departing Lender (or such shorter notice
period specified by the Administrative Agent), designate a replacement lender who is not an Ineligible Institution and who is
acceptable to the Administrative Agent (a “Replacement Lender”) to which such Departing Lender shall, subject
to its receipt (unless a later date for the remittance thereof shall be agreed upon by the Borrowers and the Departing Lender)
of all amounts owed to such Departing Lender under Sections 2.14 or 2.16, assign all (but not less than all) of its interests,
rights, obligations, Loans and Commitments hereunder; provided, that the Departing Lender shall have received payment of
an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder, from the Replacement Lender (to the extent of such
outstanding principal and accrued interest and fees) or the Borrowers (in the case of all other amounts). Upon any assignment
by any Lender pursuant to this Section 2.18 becoming effective, the Replacement Lender shall thereupon be deemed to be a
“Lender” for all purposes of this Agreement (unless such Replacement Lender was, itself, a Lender prior thereto) and
such Departing Lender shall thereupon cease to be a “Lender” for all purposes of this Agreement and shall have no
further rights or obligations hereunder (other than pursuant to Section 2.14 or 2.16 and Section 9.03) while such Departing
Lender was a Lender.

 

(c) Notwithstanding
any Departing Lender’s failure or refusal to assign its rights, obligations, Loans and Commitments under this Section 2.18,
the Departing Lender shall cease to be a “Lender” for all purposes of this Agreement and the Replacement Lender shall
be substituted therefor upon payment to the Departing Lender by the Replacement Lender of all amounts set forth in this Section 2.18
without any further action of the Departing Lender. Each party hereto agrees that (i) an assignment required pursuant to this
paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower Representative, the Administrative
Agent and the assignee (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant
to an Approved Electronic Platform as to which the Administrative Agent and such parties are participants), and (ii) the Lender
required to make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed
to have consented to and be bound by the terms thereof; provided that, following the effectiveness of any such assignment, the
other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably
requested by the applicable Lender, provided that any such documents shall be without recourse to or warranty by the parties thereto.

 

SECTION
2.19. Defaulting Lenders. Notwithstanding
any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall
apply for so long as such Lender is a Defaulting Lender:

 

(a) fees
shall cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 2.11(a);

 

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(b) any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting
Lender (whether voluntary or mandatory, at maturity, pursuant to Section 2.18(b) or otherwise) or received by the Administrative
Agent from a Defaulting Lender pursuant to Section 9.08 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 owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank or Swingline Lender
hereunder; third, to cash collateralize the Issuing Banks’ LC Exposure with respect to such Defaulting Lender in accordance
with this Section; fourth, as the Borrower Representative 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 the Borrower Representative,
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 Issuing Banks’ future LC Exposure
with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with
this Section; sixth, to the payment of any amounts owing to the Lenders, the Issuing Banks or Swingline Lender as a result of
any judgment of a court of competent jurisdiction obtained by any Lender, the Issuing Banks or Swingline Lender against such Defaulting
Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement or under any other Loan Document;
seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrowers as a result of
any judgment of a court of competent jurisdiction obtained by the Borrowers against such Defaulting Lender as a result of such
Defaulting Lender's breach of its obligations under this Agreement or under any other Loan Document; and eighth, to such Defaulting
Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal
amount of any Loans or LC Disbursements 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 4.02
were satisfied or waived, such payment shall be applied solely to pay the Loans of, and LC Disbursements owed to, all non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements owed to, such Defaulting
Lender until such time as all Loans and funded and unfunded participations in the Borrowers’ obligations corresponding to
such Defaulting Lender’s LC Exposure is and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments
without giving effect to clause (d) below. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that
are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section shall be
deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto;

 

(c) such
Defaulting Lender shall not have the right to vote on any issue on which voting is required (other than to the extent expressly
provided in Section 9.02(b)) and the Commitments and Loans of such Defaulting Lender shall not be included in determining whether
the Required Lenders have taken or may take any action hereunder or under any other Loan Document; provided that, except as otherwise
provided in Section 9.02, this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver
or other modification requiring the consent of all Lenders or each Lender directly affected thereby;

 

(d) if
any Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then:

 

(i) all
or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting
Lenders in accordance with their respective Applicable Percentages but only to the extent the sum of all non-Defaulting Lenders’
Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting
Lenders’ Commitments;

 

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(ii) if
the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrowers shall within one (1)
Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize
for the benefit of the Issuing Bank only the Borrowers’ obligations corresponding to such Defaulting Lender’s LC Exposure
(after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in
Section 2.05(j) for so long as such LC Exposure is outstanding;

 

(iii) if
the Borrowers cash collateralize any portion of such Defaulting Lender’s LC Exposure pursuant to clause (ii) above, the
Borrowers shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.11(b)(i) with respect to such
Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is cash collateralized;

 

(iv) if
the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees payable to the Lenders
pursuant to Section 2.11(a) and Section 2.11(b)(i) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable
Percentages; and

 

(v) if
all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated nor cash collateralized pursuant to clause
(i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all letter
of credit fees payable under Section 2.11(b)(i) with respect to such Defaulting Lender’s LC Exposure shall be payable to
the Issuing Bank until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and

 

(e) so
long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing
Bank shall not be required to issue, amend, renew, extend or increase any Letter of Credit, unless it is satisfied that the related
exposure and the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting
Lenders and/or cash collateral will be provided by the Borrowers in accordance with Section 2.19(c), and Swingline Exposure related
to any such newly made Swingline Loan or LC Exposure related to any newly issued or increased Letter of Credit shall be allocated
among non-Defaulting Lenders in a manner consistent with Section 2.19(c)(i) (and such Defaulting Lender shall not participate
therein).

 

If
(i) a Bankruptcy Event or a Bail-In Action with respect to any Lender or a Parent of any Lender shall occur following the date
hereof and for so long as such event shall continue or (ii) the Swingline Lender or the Issuing Bank has a good faith belief that
any Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend
credit, the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue,
amend or increase any Letter of Credit, unless the Swingline Lender or the Issuing Bank, as the case may be, shall have entered
into arrangements with the Borrowers or such Lender, satisfactory to the Swingline Lender or the Issuing Bank, as the case may
be, to defease any risk to it in respect of such Lender hereunder.

 

In
the event that the Administrative Agent, the Borrowers, the Swingline Lender and the Issuing Bank each agrees that a Defaulting
Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and
LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such
Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall
determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage, and such
Lender shall cease to be a Defaulting Lender hereunder. Notwithstanding the foregoing, no adjustments will be made retroactively
with respect to fees accrued or payments made by or on behalf of the Borrowers while a Lender was a Defaulting Lender; provided,
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 such Lender’s having been a Defaulting
Lender.

 

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SECTION
2.20. Appointment of Borrower Representative.
Each Borrower hereby appoints the Borrower Representative as its agent, attorney-in-fact and representative for the purpose of
(i) making any borrowing requests or other requests required under this Agreement, (ii) the giving and receipt of notices by and
to Borrowers under this Agreement, (iii) the delivery of all documents, reports, certificates, financial statements and written
materials required to be delivered by Borrowers under this Agreement, and (iv) all other purposes incidental to any of the foregoing.
Each Borrower agrees that any action taken by the Borrower Representative as the agent, attorney-in-fact and representative of
the Borrowers shall be binding upon each Borrower to the same extent as if directly taken by such Borrower and any notice to the
Borrower Representative shall be deemed notice to all Borrowers.

 

SECTION
2.21. Expansion Option. (a) The Borrowers
may from time to time (but not more than three times after the Effective Date) elect to increase the Revolving Commitments, in
each case in minimum increments of $5,000,000 so long as, after giving effect thereto, the aggregate amount of such increases
does not exceed $30,000,000. The Borrowers may arrange for any such increase to be provided by one or more Lenders (each Lender
so agreeing to an increase in any of its the Revolving Commitments, as applicable, an “Increasing Lender”),
or by one or more new banks, financial institutions or other entities, excluding, in each case, any Ineligible Institution (each
such new bank, financial institution or other entity, an “Augmenting Lender”), to extend such Revolving Commitments;
provided that (i) each Increasing Lender and Augmenting Lender, shall be subject to the approval of the Borrowers and the Administrative
Agent and (ii) (x) in the case of an Increasing Lender and an Augmenting Lender, the Borrowers, the Administrative Agent and each
such Augmenting Lender and Increasing Lender execute a Lender Addition and Acknowledgement Agreement. No consent of any Lender
(other than the Lenders participating in the increase) shall be required for any increase in the Revolving Commitments pursuant
to this Section 2.21. 

 

(b) Increases
and new Revolving Commitments, as applicable, created pursuant to this Section 2.21 shall become effective on the date agreed
by the Borrowers, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent
shall notify each Lender thereof. Notwithstanding the foregoing, no such increase in the Revolving Commitments, as applicable,
shall become effective under this paragraph unless, (i) on the proposed date of the effectiveness of such increase, (A) the conditions
set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the Administrative
Agent shall have received a certificate to that effect dated as of such date and executed by a Financial Officer of the Borrowers
and (B) the Borrowers shall be in compliance (on a pro forma basis) with the Section 6.13(a), and (ii) the Administrative Agent
shall have approved such increase and shall have received documents consistent with those delivered on the Effective Date as to
the corporate power and authority of the Borrowers to borrow hereunder after giving effect to such increase.

 

(c) On
the effective date of any increase in the Revolving Commitments, as applicable, being made, (i) each relevant Increasing Lender
and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative
Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such
increase and the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding applicable
Loans of all the Lenders to equal its Applicable Percentage (as modified by such increase) of such outstanding Loans, and (ii)
the Borrowers shall be deemed to have repaid and reborrowed all outstanding Loans as of the date of any increase in the Revolving
Commitments, as applicable (with such reborrowing to consist of the Types of Loans, with related Interest Periods if applicable,
specified in a notice delivered by the Borrowers, in accordance with the requirements of Section 2.03). The deemed payments made
pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount
prepaid and, in respect of each Eurodollar Loan, shall be subject to indemnification by the Borrowers pursuant to the provisions
of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest Periods. Nothing contained in
this Section 2.21 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Revolving
Commitment hereunder.

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SECTION
2.22. Returned Payments. If, after receipt
of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise
of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds
to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be
void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant
to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof
intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or
proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.22 shall be and remain
effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance
upon such payment or application of proceeds. The provisions of this Section 2.22 shall survive the termination of this Agreement.

 

ARTICLE
III Representations and Warranties

 

The
Borrowers represent and warrant to the Lenders that:

 

SECTION
3.01. Organization; Powers. Each Loan
Party is duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its organization,
has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually
or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in,
and is in good standing in, every jurisdiction where such qualification is required. All of the issued and outstanding Equity
Interests owned by any Loan Party have been (to the extent such concepts are relevant with respect to such ownership interests)
duly authorized and issued and are fully paid and non-assessable.

 

SECTION
3.02. Authorization; Enforceability. The
Transactions are within each Loan Party’s corporate, company or other organizational powers and have been duly
authorized by all necessary corporate, company or other organizational actions and, if required, actions by equity holders.
This Agreement has been duly executed as of the date of this Agreement and delivered by each Loan Party as of the Effective Date and constitutes a legal, valid and binding obligation of each such Loan Party, enforceable in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights
generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law.

 

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SECTION
3.03. Governmental Approvals; No Conflicts.
The performance by each Loan Party of its obligations under
the Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except such as have been obtained or made and are in full force and effect, (b) will not violate any applicable law
or regulation or the charter, operating agreement, by-laws or other organizational documents of any Loan Party or any order of
any Governmental Authority, (c) will not violate or result in a default under any material indenture, agreement or other instrument
binding upon any Loan Party or its assets (as to any such violation or default to the extent it could result in a Material Adverse
Effect), or give rise to a right thereunder to require any payment to be made by any Loan Party, and (d) other than pursuant to
the Collateral Documents and, subject to the First Lien Intercreditor Agreement, the ABL Loan Documents, the Second Lien Intercreditor
Agreement and the Second Lien Notes Documents, will not result in the creation or imposition of or other requirement to create,
any Lien on any asset of any Loan Party.

 

SECTION
3.04. Financial Condition; No Material Adverse Change.
(a) The Borrowers have heretofore furnished to the Lenders the
consolidated balance sheet and statement of income, stockholders equity and cash flows of Alta Enterprises and its Subsidiaries
(as described in such audit) as of and for the Fiscal Year ended December 31, 2018, audited by UHY LLP, independent public accountants,
and the consolidated balance sheet and statement of income, stockholders equity and cash flows of Alta Enterprises and its Subsidiaries
as of November 30, 2019 prepared by a Financial Officer (collectively, the "Historical Financial Statements").
Such financial statements for the Fiscal Year ended December 31, 2018 present fairly, in all material respects, the consolidated
financial position and results of operations and cash flows of Alta Enterprises and its Subsidiaries as of such date and for such
periods in accordance with GAAP, and such financial statements as of November 30, 2019 present fairly, in all material respects,
the consolidated financial position and results of operations and cash flows of Alta Enterprises and its Subsidiaries as of such
dates and for such periods in accordance with GAAP.

 

(b) The
pro forma financial statements and projections delivered to the Administrative Agent prior to the Effective Date for the Fiscal
Years ending December 31, 2020 through and including December 31, 2022 of Alta Group (the “Projections”) fairly
present in all material respects the pro forma consolidated financial condition of Alta Group and its Subsidiaries after giving
effect to the Transactions in accordance with GAAP, and contain reasonable assumptions and give appropriate effect to those assumptions,
and are based on estimates and assumptions considered reasonable by Alta Group and the best information available to Alta Group
at the time made, and use information consistent with the plans of Alta Group, it being recognized by the Administrative Agent
and the Lenders, however, that projections as to future events are not to be viewed as facts, and that the actual results during
the period or periods covered by said projections probably will differ from the projected results and that such differences may
be material.

 

(c) Since
December 31, 2018 there has been no Material Adverse Effect.

 

SECTION
3.05. Properties.
(a) Each Loan Party has good title to, or valid leasehold interests in, all its real and personal property material to its business,
except for minor defects in title that do not materially interfere with its ability to conduct its business as currently conducted.

 

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

 

(c) As
of the date of this Agreement, each Loan Party, including its ownership, is described on Schedule 3.05 hereto. The Loan
Parties listed on Schedule 3.05 include all Subsidiaries of each Loan Party. Each Loan Party has and will have all requisite
power to own or lease the properties material to its business and to carry on its business as now being conducted and as proposed
to be conducted.

 

SECTION
3.06. Litigation and Environmental Matters.
(a) There are no actions, suits or proceedings by or before
any arbitrator or Governmental Authority pending against or, to the knowledge of any Borrower, threatened against or affecting
any Loan Party (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined,
could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed
Matters) or (ii) that involve this Agreement or the Transactions.

 

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(b) Except
for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, no Loan Party (i) has failed to comply with any Environmental Law or
to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has or
expects to incur any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability
or (iv) knows of any basis for any Environmental Liability.

 

(c) Since
the date of this Agreement, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate,
has resulted in, or materially increased the likelihood of, a Material Adverse Effect.

 

SECTION
3.07. Compliance with Laws and Agreements.
Each Loan Party is in compliance with all laws, regulations
and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments
binding upon it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.

 

SECTION
3.08. Investment Company Status.
No Loan Party is required to register as an "investment company" under, the Investment Company Act of 1940.

 

SECTION
3.09. Taxes.
Each Loan Party has timely filed or caused to be filed all federal and all material state and local Tax returns and reports required
to have been filed and has paid or caused to be paid all material Taxes required to have been paid by it, except Taxes that are
being contested in good faith by appropriate proceedings and for which such Loan Party has set aside on its books adequate reserves.

 

SECTION
3.10. ERISA.
No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for
which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present
value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial
Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed
the fair market value of the assets of such Plan. Except as could not reasonably be expected to have a Material Adverse Effect,
(i) each Employee Benefit Plan complies with, and has been operated in accordance with, all applicable laws, including ERISA and
the Code, and the terms of such Employee Benefit Plan, (ii) no Borrower or Guarantor has any liability for a fine, penalty, damage,
or excise tax with respect to an Employee Benefit Plan, and no Borrower or Guarantor has received notice from a governmental authority,
plan administrator, or participant (or any participant's agent) that any such fine, penalty, damage or excise tax may be owing
by such Borrower or Guarantor and (iii) each Employee Benefit Plan intended by an Borrower or Guarantor to be qualified under
Section 401 of the Code is so qualified.

 

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SECTION
3.11. Disclosure.
(a) The Borrowers have disclosed to the Lenders all agreements, instruments and corporate or other restrictions to which it or
any Loan Party is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected
to result in a Material Adverse Effect. No reports, financial statements, certificates or other information furnished by or on
behalf of any Borrower (including without limitation any information memorandum provided to any of the Lenders) to the Administrative
Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder contains any material misstatement
of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided that, with respect to projected financial information, the Borrowers represent
only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood
that such forecasts or projections are subject to significant uncertainties and contingencies, many of which are beyond the control
of the Borrowers, and that no Borrower makes no representation as to the attainability of such forecasts or projections or as
to whether such forecasts or projections will be achieved or will materialize).

 

(b) As
of the date of this Agreement, to the best knowledge of each Borrower, the information included in the Beneficial Ownership Certification
provided on or prior to the date of this Agreement to any Lender in connection with this Agreement is true and correct in all
respects.

 

SECTION
3.12. Solvency. After giving effect to
the Transactions, (a) the fair value of the assets of each Loan Party, at a fair valuation, will exceed its debts and liabilities,
subordinated, contingent or otherwise; (b) the present fair saleable value of the assets (including contingent assets) will
be sufficient to pay the probable liability of such Loan Party’s debts and other liabilities, subordinated, contingent or
otherwise, as such debts and other liabilities become absolute and matured; (c) each Loan Party will be able to pay its debts
and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; (d) each
Loan Party will not have unreasonably small capital with which to conduct the business in which it is engaged as such business
is now conducted and is proposed to be conducted following the Effective Date; (e) no Loan Party is “insolvent” within
the meaning of Section 101(32) of the United States Bankruptcy Code (11 U.S.C. § 101, et seq.), as amended, and
any successor statute; and (f) no Loan Party has incurred (by way of assumption or otherwise) any obligations or liabilities (contingent
or otherwise) under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or
defraud either present or future creditors of such Loan Party or any of its Affiliates.

 

SECTION
3.13. Security Interest in Collateral.
The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the
Administrative Agent, for the benefit of the Secured Parties, and, upon the filing of appropriate financing statements and, with
respect to any intellectual property, filings in the United States Patent and Trademark Office and the United States Copyright
Office, and, with respect to real property, the Mortgages, or taking such other action as may be required for perfection under
applicable law, such Liens will constitute, to the extent required by the Loan Documents, perfected and continuing Liens on the
Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having
priority over all other Liens on the Collateral other than with respect to Liens expressly permitted by Section 6.02, to
the extent any such Liens would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law.

 

SECTION
3.14. Labor Disputes; Etc.. There are
no strikes, lockouts or slowdowns against any Loan Party pending or, to the knowledge of the Borrowers, threatened. There are
no labor controversies pending against or, to the knowledge of any Borrower, threatened against or affecting any Loan Party (i) which
could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, or (ii) that involve
this Agreement or the Transactions. The hours worked by and payments made to employees of the Loan Parties and their Subsidiaries
have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing
with such matters. All payments due from any Loan Party or any Subsidiary, or for which any claim may be made against any Loan
Party or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued
as a liability on the books of such Loan Party or such Subsidiary.

 

SECTION
3.15. No Default. No Default has occurred
and is continuing. 

 

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SECTION
3.16. Margin Regulations. No part of the
proceeds of any Loan have been used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations
of the Board, including Regulations T, U, and X. No Loan Party is engaged and will not engage, principally or as one of its important
activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying
Margin Stock, and no part of the proceeds of any Borrowing or Letter of Credit hereunder will be used to buy or carry any Margin
Stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of
the value of the assets (either of any Loan Party only or of the Loan Parties and their Subsidiaries on a consolidated basis)
will be Margin Stock.

 

SECTION
3.17. Subordinated Debt. All representations
and warranties of any Loan Party contained in any Subordinated Debt Document are true and correct in all material respects when
made. As of the Effective Date, all outstanding Subordinated Debt and Subordinated Debt Documents are described on Schedule
3.17. As of the Effective Date, there are no other documents, agreements or instruments evidencing the Subordinated Debt or
otherwise entered into in connection with the Subordinated Debt other than as described on Schedule 3.17 hereto and each
Borrower represents and agrees that there will be no other documents, agreements or instruments evidencing the Subordinated Debt
or otherwise relating thereto without the prior written consent of the Administrative Agent. Complete and accurate copies of all
documents, agreements or instruments described on Schedule 3.17 have been delivered to the Administrative Agent on or prior
to the Effective Date. All Secured Obligations are senior debt as defined in the Subordinated Debt Documents and entitled to the
benefits of the subordination and other provisions thereof. There is no event of default or event or condition which could become
an event of default with notice or lapse of time or both, under any Subordinated Debt Document and the Subordinated Debt Documents
are in full force and effect.

 

SECTION
3.18. Anti-Corruption Laws and Sanctions.
Each Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by each Loan Party,
their Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions,
and each Borrower, its Affiliates and their respective officers and employees and to the knowledge of the Borrowers its directors
and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of the Loan Parties
nor any of their respective directors, officers or employees, or, to the knowledge of any Borrower, any agent of any Loan Party
that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.
No Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement or the other Loan Documents
will violate Anti-Corruption Laws or applicable Sanctions.

 

SECTION
3.19. EEA Financial Institutions. No Loan
Party is an EEA Financial Institution.

 

SECTION
3.20. Plan Assets; Prohibited Transactions. None of the Loan Parties or any of their Subsidiaries is an entity deemed to
hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery nor performance
of the transactions contemplated under this Agreement, including the making of any Loan and the issuance of any Letter of Credit
hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

 

SECTION
3.21. Material Agreements. All material
dealer or similar agreements to which any Loan Party is a party or is bound as of the date of this Agreement are listed on Schedule
3.21. No Loan Party is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions
contained in (a) any material franchise or similar agreement to which it is a party or any other Material Agreement as of the
Effective Date, (b) any material franchise or similar agreement to which it is a party or any other Material Agreement after the
Effective Date that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, or
(c) any agreement or instrument evidencing or governing Material Indebtedness.

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SECTION
3.22. Capitalization and Subsidiaries.
Schedule 3.22 sets forth (a) a correct and complete list of the name and relationship to Alta Group of each Subsidiary,
(b) a true and complete listing of each class of each of Alta Group’s authorized Equity Interests, all of which issued Equity
Interests are validly issued, outstanding, fully paid and non-assessable, and owned beneficially and of record by the Persons
identified on Schedule 3.22, and (c) the type of entity of Alta Group and each Subsidiary. All of the issued and outstanding
Equity Interests owned by any Loan Party have been (to the extent such concepts are relevant with respect to such ownership interests)
duly authorized and issued and are fully paid and non-assessable. Each Loan Party has and will have all requisite power to own
or lease the properties material to its business and to carry on its business as now being conducted and as proposed to be conducted.

 

SECTION
3.23. Use of Proceeds. The proceeds of
the Loans have been used, and will be used, as set forth in Section 5.08.

 

SECTION
3.24. Affiliate Transactions. Except for
agreements in the ordinary course of business at prices and on terms and conditions not less favorable to such Loan Party than
could be obtained on an arm's-length basis from unrelated third parties, as of the date of this Agreement, there are no existing
or proposed agreements, arrangements, understandings or transactions between any Loan Party and any of the officers, members,
managers, directors, stockholders, parents, holders of other Equity Interests, employees or Affiliates (other than Subsidiaries)
of any Loan Party or any members of their respective immediate families, and none of the foregoing Persons is directly or indirectly
indebted to or has any direct or indirect ownership, partnership, or voting interest in any Affiliate of any Loan Party or any
Person with which any Loan Party has a business relationship or which competes with any Loan Party.

 

SECTION
3.25. Second Lien Transactions. On the
Effective Date the Borrowers have received the proceeds of the Second Lien Notes in an aggregate principal amount of not less
than $155,000,000 and not more than $165,000,000 in accordance with Section 4.01(g). All representations and warranties of any
Loan Party contained in any Second Lien Notes Document are true and correct in all material respects when made. As of the Effective
Date, all Second Lien Notes Documents (including without limitation all additional Second Lien Notes Documents and all amendments
and other modifications to be executed as of the Effective Date) are described on Schedule 3.25. As of the Effective Date,
there are no other material documents, agreements or instruments evidencing the Second Lien Obligations or otherwise entered into
in connection with the Second Lien Obligations other than as described on Schedule 3.25. Complete and accurate copies of
all documents, agreements or instruments described on Schedule 3.25 have been delivered to the Administrative Agent on
or prior to the Effective Date. There is no event of default or event or condition which could become an event of default with
notice or lapse of time or both, under any Second Lien Notes Document and the Second Lien Notes Documents are in full force and
effect. 

 

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SECTION
3.26. Flagler Acquisition. The Flagler Acquisition complies in all material respects with all applicable Requirements of
Law, and all necessary governmental, regulatory and shareholder consents and approvals required for the consummation of the Flagler
Acquisition have been, or prior to the consummation thereof will be, duly obtained and in full force and effect. All applicable
waiting periods with respect to the Flagler Acquisition have expired without any action being taken by any Governmental Authority
which restrains, prevents or imposes material adverse conditions upon the consummation of such transaction. At the time of consummation
thereof, there shall not exist any judgment, order or injunction prohibiting the Flagler Acquisition or any transaction contemplated
hereby. The Flagler Acquisition will be consummated on the Effective Date in accordance with the terms of the Flagler Acquisition
Agreement, without waiver of any of the material conditions thereof except to the extent agreed to by the Administrative Agent.
The consummation by the Borrowers of the Flagler Acquisition will not violate any statute or regulation of the U.S. or any other
applicable jurisdiction, or any order, judgment or decree of any court or other Governmental Authority, or result in a breach
of, or constitute a default under, any Material Agreement or any order or decree, binding on any Loan Party. The representations
and warranties of the Loan Parties and, to the knowledge of the Borrowers, the other parties thereto in the Flagler Acquisition
Documents are true and correct in all material respects on the date of this Agreement. Complete and correct copies of all Flagler
Acquisition Documents (including all amendments thereto) have been delivered to the Administrative Agent prior to the Effective
Date. All Indebtedness of Flagler to be paid off, and all Liens on the assets of Flagler to be released, in connection with the
Flagler Acquisition (as described in the funds flow statement in connection therewith) will be paid off and released, as applicable,
on the Effective Date simultaneously in connection with the closing of the Flagler Acquisition except to the extent agreed to
by the Administrative Agent.

 

SECTION
3.27. Liftech Acquisition. The Liftech Acquisition complies in all material respects with all applicable Requirements of
Law, and all necessary governmental, regulatory and shareholder consents and approvals required for the consummation of the Liftech
Acquisition have been, or prior to the consummation thereof will be, duly obtained and in full force and effect. All applicable
waiting periods with respect to the Liftech Acquisition have expired without any action being taken by any Governmental Authority
which restrains, prevents or imposes material adverse conditions upon the consummation of such transaction. At the time of consummation
thereof, there shall not exist any judgment, order or injunction prohibiting the Liftech Acquisition or any transaction contemplated
hereby. The Liftech Acquisition will be consummated on the Effective Date in accordance with the terms of the Liftech Acquisition
Agreement, without waiver of any of the material conditions thereof except to the extent agreed to by the Administrative Agent.
The consummation by the Borrowers of the Liftech Acquisition will not violate any statute or regulation of the U.S. or any other
applicable jurisdiction, or any order, judgment or decree of any court or other Governmental Authority, or result in a breach
of, or constitute a default under, any Material Agreement or any order or decree, binding on any Loan Party. The representations
and warranties of the Loan Parties and, to the knowledge of the Borrowers, the other parties thereto in the Liftech Acquisition
Documents are true and correct in all material respects on the date of this Agreement. Complete and correct copies of all Liftech
Acquisition Documents (including all amendments thereto) have been delivered to the Administrative Agent prior to the Effective
Date. All Indebtedness of Liftech to be paid off, and all Liens on the assets of Liftech to be released, in connection with the
Liftech Acquisition (as described in the funds flow statement in connection therewith) will be paid off and released, as applicable,
on the Effective Date simultaneously in connection with the closing of the Liftech Acquisition except to the extent agreed to
by the Administrative Agent.

 

SECTION
3.28. Insurance. Schedule 3.28 sets forth a description of all insurance maintained by or on behalf of the
Loan Parties and their Subsidiaries as of the date of this Agreement. As of the Effective Date, all premiums in respect of such
insurance have been paid. Each Borrower maintains, and has caused each Subsidiary to maintain, with financially sound and reputable
insurance companies, insurance on all their real and personal property in such amounts, subject to such deductibles and self-insurance
retentions and covering such properties and risks as are adequate and customarily maintained by companies engaged in the same
or similar businesses operating in the same or similar locations.

 

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SECTION
3.29. Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued
successful performance of the functions of the group of the Loan Parties as a whole and the successful operation of each of the
Loan Parties is dependent on the successful performance and operation of each other Loan Party. Each Loan Party expects to derive
benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit),
directly and indirectly, from (i) successful operations of each of the other Loan Parties and (ii) the credit extended by the
Lenders to the Borrowers hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party
has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such
Loan Party is within its purpose, in furtherance of its direct and/or indirect business interests, will be of direct and/or indirect
benefit to such Loan Party, and is in its best interest.

 

SECTION
3.30. B. Riley Merger/Equity Transactions. All B. Riley Merger/Equity Transactions will be consummated on the Effective
Date in accordance with the B. Riley Merger/Equity Transaction Agreements and as described on Schedule 3.30. All material
agreements executed in connection with the B. Riley Merger/Equity Transaction Agreements are listed on Schedule 3.30 as
the B. Riley Merger/Equity Transaction Agreements. Alta Group has raised the following amounts of cash common Equity Interests:
(a) $143,750,000 from Alta Group’s initial public offering on April 12, 2019 (the “IPO Cash Common Equity”),
(b) $25,000,000 that will be funded by B. Riley Principal Investments, LLC under a forward purchase agreement immediately prior
to the closing of the B. Riley Merger/Equity Transactions (the “Forward Purchase Cash Common Equity”) and (c) $35,000,000
under subscription agreements with institutional and accredited investors immediately prior to the closing of the B. Riley Merger/Equity
Transactions (the “PIPE Cash Common Equity”, and collectively with the IPO Cash Common Equity and the Forward Purchase
Cash Common Equity, the “Cash Common Equity”). As of the Effective Date immediately prior to the closing of the B.
Riley Merger/Equity Transactions, Alta Group will have received the Forward Purchase Cash Common Equity and the PIPE Cash Common
Equity, and will have remaining cash from the IPO Cash Common Equity of at least $88,000,000 that is not subject to any redemption
or any other restriction on its use by the Borrowers, for a total of Cash Common Equity of at least $148,000,000 that is not subject
to any redemption or any other restriction on its use by the Borrowers. Such consummation of the B. Riley Merger/Equity Transactions
complies in all material respects with all applicable Requirements of Law, and all necessary governmental, regulatory and shareholder
consents and approvals required for the consummation of the B. Riley Merger/Equity Transactions have been, or prior to the consummation
thereof will be, duly obtained and in full force and effect. All applicable waiting periods with respect to the B. Riley Merger/Equity
Transactions have expired without any action being taken by any Governmental Authority which restrains, prevents or imposes material
adverse conditions upon the consummation of such transaction. At the time of consummation thereof, there shall not exist any judgment,
order or injunction prohibiting the B. Riley Merger/Equity Transactions or any transaction contemplated hereby. The B. Riley Merger/Equity
Transactions will be consummated on the Effective Date in accordance with the terms of the B. Riley Merger/Equity Transaction
Agreements, without waiver or amendment of any of the material conditions or provisions thereof except to the extent agreed to
by the Administrative Agent. The consummation by the Borrowers of the B. Riley Merger/Equity Transactions will not violate any
statute or regulation of the U.S. or any other applicable jurisdiction, or any order, judgment or decree of any court or other
Governmental Authority, or result in a breach of, or constitute a default under, any Material Agreement or any order or decree,
binding on any Loan Party. The representations and warranties of the Loan Parties and, to the knowledge of the Borrowers, the other
parties thereto in the B. Riley Merger/Equity Transaction Agreements are true and correct in all material respects on the date
of this Agreement. Complete and correct copies of all B. Riley Merger/Equity Transaction Agreements (including all amendments
thereto) have been delivered to the Lenders prior to the Effective Date. All Indebtedness of the Loan Parties to be paid off,
and all Liens on the assets of the Loan Parties to be released, in connection with the B. Riley Merger/Equity Transactions (as
described in the funds flow statement in connection therewith) will be paid off and released, as applicable, on the Effective
Date simultaneously in connection with the closing of the B. Riley Merger/Equity Transactions except to the extent agreed to by
the Administrative Agent.

 

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ARTICLE
IV Conditions

 

SECTION
4.01. Effective Date. The obligations
of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the
date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02 or addressed in a
post-closing letter agreement): 

 

(a) Loan
Documents. The Administrative Agent (or its counsel) shall have received (i) from each party hereto either (A) a
counterpart of this Agreement signed on behalf of such party or (B) written evidence reasonably satisfactory to the Administrative
Agent (which may include telecopy or electronic mail message transmission of a signed signature page of this Agreement) that such
party has signed a counterpart of this Agreement and (ii) duly executed copies of the Loan Documents and such other legal
opinions, certificates, documents, instruments, lien searches, and agreements and documents as the Administrative Agent shall
reasonably request and the completion of such other due diligence and other conditions and requirements as the Administrative
Agent shall reasonably request in connection with the Transactions, all in form and substance reasonably satisfactory to the Administrative
Agent and its counsel.

 

(b) Certificate.
The Administrative Agent shall have received a certificate, signed by a Financial Officer or other executive officer of each Borrower
and in form and substance satisfactory to the Administrative Agent, on the initial Borrowing date stating and showing that, after
giving pro forma effect to all Loans and Letters of Credit required to be made or issued on the date hereof and all other amounts
to be paid on the Effective Date, the satisfaction of all closing conditions under this Section 4.01 and the completion of all
other Transactions to be completed on the Effective Date, (i) no Default has occurred and is continuing, (ii) the representations
and warranties contained in Article III are true and correct in all material respects as of such date, (iii) all conditions precedent
to the closing of the Liftech Acquisition and the Flagler Acquisition (in each case, other than payment of the consideration)
are satisfied and, upon the funding of the initial Loans and the payment of the consideration, the Flagler Acquisition shall be
consummated in accordance with the terms hereof and all representations in Section 3.26 are true and correct and the Liftech Acquisition
shall be consummated in accordance with the terms hereof and all representations in Section 3.27 are true and correct, (iv) all
financial covenants in Section 6.13 are complied with on a pro forma basis acceptable to the Administrative Agent, and (v) the
Borrowers have performed and complied with all agreements and conditions contained in this Agreement from the date of this Agreement
until the Effective Date, assuming that Articles V and VI hereof are applicable from the date of this Agreement.

 

(c) Fees.
The Lenders and the Administrative Agent shall have received, substantially concurrently with the effectiveness hereof, all fees
required to be paid, and all expenses for which invoices have been presented (including the reasonable fees and documented expenses
of legal counsel to the Administrative Agent), on or before the Effective Date. All such amounts will be paid with proceeds of
Loans made on the Effective Date and will be reflected in the funding instructions given by the Loan Parties to the Administrative
Agent on or before the Effective Date.

 

(d) Existing
Indebtedness; Warrant. The Loan Parties shall have paid, concurrently with the initial Loans hereunder, all Indebtedness that
is not permitted hereunder (including any Indebtedness of Flagler, Liftech and their Subsidiaries) and shall have terminated all
credit facilities and all Liens relating thereto, all in a manner satisfactory to the Administrative Agent and its counsel. The
Administrative Agent shall have received evidence that that Warrant has been paid in full and cancelled.

 

(e) Insurance.
The Administrative Agent shall have received evidence of insurance coverage in form, scope, and substance satisfactory to the
Administrative Agent, together with endorsements naming the Administrative Agent as an additional insured and first lenders’
loss payee, and otherwise in compliance with the terms of Section 5.05.

 

(f) Floor
Plan Credit Agreement. Prior to or substantially simultaneously with the initial extensions of credit hereunder, the Administrative
Agent shall have received copies of all final Floor Plan Loan Documents to be effective as of the Effective Date and an intercreditor
agreement required by the Administrative Agent in connection therewith, all duly executed by all parties thereto. As of the Effective
Date, the aggregate principal amount of the commitments with respect to the Floor Plan Loans under the Floor Plan Credit Agreement
shall not be less than $40,000,000.

 

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(g) Second
Lien Notes. Prior to or substantially simultaneously with the initial extensions of credit hereunder, Borrowers shall
have received the proceeds of the Second Lien Notes in the principal amount of $165,000,000 provided that such amount
may be reduced to $155,000,000 (but not less than $155,000,000) if the amount of IPO Cash Common Equity in excess of
$88,000,000 as of the Effective Date immediately prior to the closing of the B. Riley Merger/Equity Transactions that is not
subject to any redemption or any other restriction on its use by the Borrowers is at least $15,000,0000, and the Administrative Agent shall have
received the Second Lien Intercreditor Agreement duly executed by all parties and copies of all final Second Lien Notes
Documents to be effective as of the Effective Date.

 

(h) B.
Riley Merger/Equity Transactions. Prior to or substantially simultaneously with the initial extensions of credit hereunder,
Borrowers shall have consummated all B. Riley Merger/Equity Transactions, all on terms, conditions and agreements satisfactory
to the Administrative Agent, and shall have provided the Administrative Agent copies of all B. Riley Merger/Equity Transaction
Agreements.

 

(i) Intercreditor
Agreements. The Administrative Agent shall have received copies of all agreements evidencing any floor plan financing of Alta
Group and its Subsidiaries and, to the extent requested by the Administrative Agent, copies of all agreements evidencing any other
Indebtedness permitted hereunder, and shall have received intercreditor agreements or amendments to existing intercreditor agreements,
to the extent requested by the Administrative Agent, with respect to all floor plan financing permitted hereunder executed by
all applicable providers of such floor plan financing, the Administrative Agent, the Floor Plan Administrative Agent and the Second
Lien Notes Representative, each in form and substance satisfactory to the Administrative Agent.

 

(j) Filings,
Registrations and Recordings. Each document (including any Uniform Commercial Code financing statement) required by the Collateral
Documents or under law or reasonably requested by the Administrative Agent to be filed, registered or recorded in order to create
in favor of the Administrative Agent, for the benefit of itself, the Lenders and the other Secured Parties, a perfected Lien on
the Collateral described therein, prior and superior in right to any other Person (other than with respect to Liens expressly
permitted by Section 6.02), shall be in proper form for filing, registration or recordation.

 

(k) Financial
Statements; Projections. The Lenders shall have received from the Borrowers (i) the Historical Financial Statements, (ii)
pro forma consolidated and consolidating balance sheets of Borrowers and their Subsidiaries as of the Effective Date, and reflecting
the transactions contemplated by the Loan Documents, the Second Lien Notes Documents, the Flagler Acquisition and the Liftech
Acquisition, in each to occur on or prior to the Effective Date, which pro forma financial statements shall be in form and substance
satisfactory to Administrative Agent, and (iii) the Projections.

 

(l) Availability.
On the Effective Date and immediately after giving effect to the Transactions contemplated to occur on the Effective Date and
the payment of all related costs and expenses, Borrowers and their Subsidiaries shall have Availability of at least $75,000,000.

 

(m) Corporate
Structure. The corporate structure, capital structure and other material debt instruments, material accounts and governing
documents of the Borrowers and their Affiliates shall be acceptable to the Lenders in their sole discretion.

 

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(n) USA
PATRIOT Act, Etc. (i) The Administrative Agent shall have received, (x) at least five (5) days prior to the Effective Date,
all documentation and other information regarding the Borrowers requested in connection with applicable “know your customer”
and anti-money laundering rules and regulations, including the USA PATRIOT Act, to the extent requested in writing of the Borrowers
at least ten (10) days prior to the Effective Date, and (y) a properly completed and signed IRS Form W-8 or W-9, as applicable,
for each Loan Party, and (ii) to the extent the Borrowers qualify as a “legal entity customer” under the Beneficial
Ownership Regulation, at least five (5) days prior to the Effective Date, any Lender that has requested, in a written notice to
the Borrowers at least the (10) days prior to the Effective Date, a Beneficial Ownership Certification in relation to each Borrower
shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of
its signature page to this Agreement, the condition set forth in this clause (ii) shall be deemed to be satisfied).

 

(o) Flagler
Acquisition. The Borrowers shall have delivered all agreements and documents, and satisfied all other conditions, in connection
with the Flagler Acquisition as requested by the Administrative Agent.

 

(p) Liftech
Acquisition. The Borrowers shall have delivered all agreements and documents, and satisfied all other conditions, in connection
with the Liftech Acquisition as requested by the Administrative Agent.

 

(q) Funding
Account. The Administrative Agent shall have received a notice setting forth the deposit account(s) of the Borrowers (the
“Funding Account”) to which the Administrative Agent is authorized by the Borrowers to transfer the proceeds of any
Borrowings requested or authorized pursuant to this Agreement.

 

(r) Opinions
of Counsel. The Lenders, the Administrative Agent and their respective counsel shall have received executed copies of the
written opinions of Howard & Howard Attorneys PLLC, counsel for the Borrowers, as to such matters as Lenders may reasonably
request, dated as of the Effective Date and otherwise in form and substance reasonably satisfactory to Lenders (and each Borrower
hereby instructs such counsel to deliver such opinions to the Lenders and the Administrative Agent).

 

(s) Rating.
The Borrowers shall have received satisfactory evidence from Egan Jones Rating Company that, after taking into account the Transactions,
the Rating on the Second Lien Notes is at least BBB-.

 

(t) Miscellaneous.
The Administrative Agent shall have received such certificates, documents and other customary instruments, and evidence of the
satisfaction of such other conditions as reasonably requested by the Administrative Agent, including without limitation satisfactory
results of a completed collateral field audit examination, lien searches, appraisals, quality of earnings report, floor plan audit
examination and supporting information. All corporate, limited liability and other proceedings in connection with the transactions
contemplated by this Agreement and all documents and instruments incident to such transactions shall be satisfactory to the Lenders
and the Administrative Agent.

 

The
Administrative Agent shall notify the Borrowers and the Lenders of the Effective Date, and such notice shall be conclusive and
binding; provided, that the Effective Date shall be deemed to have occurred upon the initial funding of Loans by the Lenders.
Notwithstanding anything herein to the contrary, (i) the obligations of the Lenders to make Loans and of the Issuing Bank to issue
Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant
to Section 9.02) at or prior to 2:00 p.m., New York time, on February 14, 2020 (and, in the event such conditions are not so satisfied
or waived, the Commitments shall terminate at such time), and it is acknowledged and agreed that the Lenders shall not have any
obligation to make Loans hereunder and the Issuing Bank shall not have any obligation to issue Letters of Credit hereunder unless
each of the foregoing conditions is satisfied, the conditions in Section 4.02 are satisfied and the Effective Date has occurred,
and (ii) the Effective Date and the initial funding of Loans by the Lenders shall not be prior to February 12, 2020.

 

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SECTION
4.02. Each Credit Event. The obligation
of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter
of Credit, is subject to the satisfaction or waiver of the following conditions: 

 

(a) The
representations and warranties of each Borrower set forth in this Agreement and the other Loan Documents shall be true and correct
in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such
Letter of Credit, as applicable (it being understood and agreed that any representation or warranty which by its terms is made
as of a specified date shall be required to be true and correct in all material respects only as of such specified date, and that
any representation or warranty which is subject to any materiality qualifier shall be required to be true and correct in all respects).

 

(b) At
the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter
of Credit, as applicable, (i) no Default shall have occurred and be continuing and (ii) no Protective Advance shall be outstanding.

 

Each
Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation
and warranty by the Borrowers on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.
Notwithstanding the failure to satisfy the conditions precedent set forth in paragraphs (a) or (b) of this Section, unless otherwise
directed by the Required Lenders, the Administrative Agent may, but shall have no obligation to, continue to make Loans and an
Issuing Bank may, but shall have no obligation to, issue, amend, renew or extend, or cause to be issued, amended, renewed or extended,
any Letter of Credit for the ratable account and risk of Lenders from time to time if the Administrative Agent believes that making
such Loans or issuing, amending, renewing or extending, or causing the issuance, amendment, renewal or extension of, any such
Letter of Credit is in the best interests of the Lenders.

 

ARTICLE
V Affirmative Covenants

 

Until
all of the Secured Obligations shall have been Paid in Full, each Borrower executing this Agreement covenants and agrees, jointly
and severally with all of the other Borrowers, with the Lenders that, at all times on and after the Effective Date (and all covenants
in Article V of the Existing Credit Agreement shall be effective until the Effective Date):

 

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

 

(a) by
no later than ninety days (90) after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, 2019, the
audited consolidated balance sheet and related statements of operations, stockholders' equity and cash flows of Alta Group and
its Subsidiaries as of the end of and for such Fiscal Year, setting forth in each case in comparative form the figures for the
previous Fiscal Year, all reported on by UHY LLP or other independent public accountants reasonably acceptable to the Administrative
Agent (without a "going concern" or like qualification or exception and without any qualification or exception as to
the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the
financial condition and results of operations of Alta Group and its Subsidiaries on a consolidated basis in accordance with GAAP
consistently applied, and such report shall also include (x) a detailed summary of any audit adjustments; (y) a reconciliation
of any audit adjustments or reclassifications to the previously provided monthly financials; and (z) restated monthly financials
for any impacted periods;

 

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(b) (i)
by no later than forty five (45) days after the end of each of the first three Fiscal Quarters of each Fiscal Year, commencing
with the Fiscal Quarter ending March 31, 2020, the unaudited consolidated and consolidating balance sheet and related statements
of operations, stockholders' equity and cash flows of Alta Group and its Subsidiaries as of the end of and for such Fiscal Quarter
and the then elapsed portion of the Fiscal Year, setting forth in each case in comparative form the figures for the corresponding
period or periods of (or, in the case of the balance sheet, as of the end of) the previous Fiscal Year, all certified by one of
its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of Alta
Group and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit
adjustments and the absence of footnotes, and (ii) by no later than thirty (30) days after the end of each calendar month (including
each month that is also the end of a Fiscal Quarter), commencing with the first month ending on a date after the Effective Date,
the unaudited consolidated and consolidating balance sheet and related statements of operations, stockholders' equity and cash
flows of Alta Group and its Subsidiaries as of the end of and for such month and the then elapsed portion of the Fiscal Year,
setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the
balance sheet, as of the end of) the previous Fiscal Year, all certified by one of its Financial Officers as presenting fairly
in all material respects the financial condition and results of operations of Alta Group and its Subsidiaries on a consolidated
basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;

 

(c) simultaneous
with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer of each
Borrower (i) certifying as to whether an Event of Default has occurred and, if an Event of Default has occurred, specifying
the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed
calculations demonstrating compliance with Section 6.13 and calculating the Applicable Margin, and (iii) stating whether
any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in
Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying
such certificate;

 

(d) within
30 days of the end of each calendar month and, in addition, during any Cash Dominion Period, by Wednesday of each week for the
weekly period ending on the Friday of the week prior to the date such Borrowing Base Certificate is submitted (or, in each case
the next Business Day if such day is not a Business Day) and at such other times as may be required by the Administrative Agent,
a Borrowing Base Certificate as of the end of such period and a listing of Accounts, Eligible Equipment Inventory – New,
Eligible Equipment Inventory – Rental Fleet, Eligible Equipment Inventory – Unappraised, Eligible Equipment Inventory
– Used Fleet (and to include the orderly liquidation value (based on most recent appraisal) of Eligible Equipment Inventory
where applicable), accounts payable and parts inventory of the Borrowers (and Guarantors, if any) as of the end of such period
(provided that, for such weekly reporting, the required information shall be limited a Borrowing Base Certificate, updated solely
for an Accounts rollforward, for ineligible Accounts relating to Floor Plan Priority Collateral and for the current Revolving
Exposure) in form and detail satisfactory to the Administrative Agent and certified by each Borrower by one of its Financial Officers;

 

(e) within
30 days of the end of each calendar month and, in addition, during any Cash Dominion Period, by Wednesday of each week for the
weekly period ending on the Friday of the week prior to the date such Borrowing Base Certificate is submitted (or, in each case
the next Business Day if such day is not a Business Day) and at such other times as may be required by the Administrative Agent,
as of the period then ended (provided that, the information required under this clause (e) for weekly reports shall be limited
to the information under clause (e)(i) below and such other additional information required by the Administrative Agent), all
delivered electronically in a file acceptable to the Administrative Agent:

 

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(i) a
detailed aging of the Borrowers’ Accounts, including all invoices aged by invoice date and due date (with an explanation
of the terms offered), prepared in a manner reasonably acceptable to the Administrative Agent, together with a summary specifying
the name, address, and balance due for each Account Debtor;

 

(ii) a
schedule detailing the Borrowers’ Inventory, in form satisfactory to the Administrative Agent, (1) by location (showing
Inventory located with a third party under any consignment, bailee arrangement, or warehouse agreement), by class (used, rental,
parts, etc.), by product type, and by volume on hand, which Inventory shall be valued at the lower of cost (determined on a first-in,
first-out basis unless otherwise agreed) or market and adjusted for Reserves as the Administrative Agent has previously indicated
to the Borrower Representative are deemed by the Administrative Agent to be appropriate, and (2) including a report of any variances
or other results of Inventory counts performed by the Borrowers since the last Inventory schedule (including information regarding
sales or other reductions, additions, returns, credits issued by Borrowers and complaints and claims made against the Borrowers);

 

(iii) a
worksheet of calculations prepared by the Borrowers to determine Eligible Accounts and Eligible Equipment Inventory, such worksheets
detailing the Accounts and Inventory excluded from Eligible Accounts and Eligible Equipment Inventory and the reason for such
exclusion;

 

(iv) a
reconciliation of the Borrowers’ Accounts and Inventory, in a form and manner acceptable to the Administrative Agent, between
(A) the amounts shown in the Borrowers’ general ledger and financial statements and the reports delivered pursuant to clauses
(i) and (ii) above and (B) the amounts and dates shown in the reports delivered pursuant to clauses (i) and (ii) above and the
Borrowing Base Certificate delivered pursuant to clause (d) above as of such date;

 

(v) a
listing of all Equipment in a form and manner acceptable to the Administrative Agent, (1) included in the Revolving Borrowing
Base with the Net Book Value of each item that has been appraised, (2) that has been acquired since the last appraisal with the
Net Book Value, acquisition cost and date of acquisition of each such item, (3) a list of all equipment purchased with Floor Plan
Loans and the net Book Value thereof, and (4) a reconciliation of the aggregate equipment associated with the Floor Plan Loans
and Revolving Loans to the perpetual inventory; and

 

(vi) a
reconciliation of the loan balance per the Borrowers’ general ledger to the loan balance under this Agreement;

 

(f) as
soon as available but in any event within 30 days of the end of each calendar month and at such other times as may be requested
by the Administrative Agent, as of the month then ended, a schedule and aging of the Borrowers’ accounts payable, delivered
electronically in a file acceptable to the Administrative Agent;

 

(g) promptly
upon the Administrative Agent’s request during a Cash Dominion Period:

 

(i) copies
of invoices issued by the Borrowers in connection with any Accounts, credit memos, shipping and delivery documents, and other
information related thereto;

 

(ii) copies
of purchase orders, invoices, and shipping and delivery documents in connection with any Inventory or Equipment purchased by any
Loan Party;

 

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(iii) a
listing of all Equipment that has been sold since the last Borrowing Base Certificate with the Net Book Value and date of sale
of each such item;

 

(iv) an
updated customer list for each Borrower and its Subsidiaries, which list shall state the customer’s name, mailing address
and phone number, delivered electronically in a file acceptable to the Administrative Agent and certified as true and correct
by a Financial Officer of the Borrower Representative;

 

(v) the
Borrowers’ sales journal, cash receipts journal (identifying trade and non-trade cash receipts) and debit memo/credit memo
journal for such period requested by the Administrative Agent;

 

(vi) a
detailed listing of all advances of proceeds of Loans requested by the Borrower Representative for each Borrower for such period
requested by the Administrative Agent and a detailed listing of all intercompany loans made by the Borrowers for such period requested
by the Administrative Agent;

 

(vii) copies
of all periodic and other reports, proxy statements and other materials filed by any Loan Party or any Subsidiary with the SEC,
or any Governmental Authority succeeding to any or all of the functions of the SEC, or with any national securities exchange,
or distributed by any Borrower to its equity owners generally, as the case may be;

 

(viii) certificates
of good standing or the substantive equivalent available in the jurisdiction of incorporation, formation or organization for each
Loan Party from the appropriate governmental officer in such jurisdiction; and

 

(ix) a
schedule detailing the balance of all intercompany accounts of the Loan Parties;

 

(h) promptly
after any request therefor by the Administrative Agent or any Lender, copies of (i) any documents described in Section 101(k)(1)
of ERISA that any Borrower or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described
in Section 101(l)(1) of ERISA that any Borrower or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided
that if a Borrower or any ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of the
applicable Multiemployer Plan, the applicable Borrower or the applicable ERISA Affiliate shall promptly make a request for such
documents and notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after
receipt thereof;

 

(i) promptly
following any request therefor, copies of any detailed audit reports or management letters submitted to the board of directors
(or the audit committee of the board of directors) of any Borrower by independent accountants in connection with the accounts
or books of any Borrowers or any Subsidiary, or any audit of any of them as the Administrative Agent or any Lender (through the
Administrative Agent) may reasonably request;

 

(j) without
limiting the other reporting obligations hereunder, contemporaneously with, or promptly after, delivery thereof to the applicable
holder of Second Lien Notes Documents or any floor plan financing, copies of (i) notices of default under the Second Lien Notes
Documents or any floor plan financing; (ii) upon the Administrative Agent’s request, availability and borrowing base reports
thereunder; and (iii) upon the Administrative Agent’s request, all other financial or other reporting under the Second Lien
Notes Documents or any floor plan financing that relate to the financial condition of Borrowers and their Subsidiaries or related
to the Collateral, in each case, to the extent not already delivered to Administrative Agent or the Lenders under this Section
5.01, unless such reporting has been waived by the Second Lien Purchasers or holders of such floor plan financing;

 

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(k) promptly
and in any event within five (5) days of the filing thereof with the IRS, the federal tax returns of each Borrower;

 

(l) as
soon as available but in any event no later than 31 days after the end of, and no earlier than 60 days prior to the end of, each
fiscal year of Alta Group, a copy of the plan and forecast (including a projected consolidated and consolidating balance sheet,
income statement and cash flow statement) of Alta Group and its Subsidiaries for each month of the upcoming fiscal year (the “Projections”)
in form reasonably satisfactory to the Administrative Agent; and

 

(m) promptly
after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent
to the stockholders of Alta Group, and copies of all annual, regular, periodic and special reports and registration statements
which the any Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of
1934, or with any national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent
or the Lenders pursuant hereto;

 

(n) promptly,
and in any event within five Business Days after receipt thereof by any Borrower or any Subsidiary thereof, copies of each notice
or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation
or possible investigation or other inquiry by such agency regarding financial or other operational results of any Borrower or
any Subsidiary thereof;

 

(o) promptly,
and in any event within five Business Days after receipt thereof by any Borrower or any Subsidiary thereof, a copy of any rating
letter or notification with respect to the Second Lien Notes from Egan Jones Rating Company or other credit rating company; and

 

(p) promptly
following any request therefor, (x) a listing of accounts receivable, accounts payable and inventory, (y) such other information
regarding the operations, business affairs and financial condition of any Loan Party including a schedule of amortization required
under any floor plan financing, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender (through
Administrative Agent) may reasonably request and (z) information and documentation reasonably requested by the Administrative
Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules
and regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation.

 

Documents
required to be delivered pursuant to Section 5.01(a) or (b) (to the extent any such documents are included in materials otherwise
filed with the SEC) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i)
on which such materials are publicly available as posted on the Electronic Data Gathering, Analysis and Retrieval system (EDGAR);
or (ii) on which such documents are posted on a Borrower’s behalf on an Internet or intranet website, if any, to which each
Lender and the Administrative Agent have access (whether a commercial, third-party website or whether made available by the Administrative
Agent); provided that: (A) upon written request by the Administrative Agent (or any Lender through the Administrative Agent)
to the Borrower Representative, the Borrower Representative shall deliver paper copies of such documents to the Administrative
Agent or such Lender until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender
and (B) the Borrower Representative shall notify the Administrative Agent and each Lender (by fax or through Electronic Systems)
of the posting of any such documents and provide to the Administrative Agent through Electronic Systems electronic versions (i.e.,
soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by any Borrower
with any such request by a Lender for delivery, and each Lender shall be solely responsible for timely accessing posted documents
or requesting delivery of paper copies of such documents to it and maintaining its copies of such documents.

 

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SECTION
5.02. Notices of Material Events.
The Borrowers will furnish to the Administrative Agent and each Lender prompt (and in any event within two (2) Business Days)
written notice of the following:

 

(a) the
occurrence of any Default;

 

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

 

(c) any
material change in accounting or financial reporting practices by any Borrower or any Subsidiary, including without limitation
the manner in which equipment is depreciated;

 

(d) the
occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected
to result in liability of the Loan Parties in an aggregate amount exceeding $2,500,000;

 

(e) any
Lien (other than Permitted Encumbrances) or claim made or asserted against any of the Collateral;

 

(f) any
loss, damage, or destruction to the Collateral in the amount of $2,500,000 or more, whether or not covered by insurance;

 

(g) within
two (2) Business Days of receipt thereof, any and all default notices received under or with respect to any leased location or
public warehouse where Collateral having an aggregate value in excess of $2,500,000 is located;

 

(h) within
two (2) Business Days after the occurrence thereof, any Loan Party entering into a Swap Agreement or an amendment thereto, together
with copies of all agreements evidencing such Swap Agreement or amendment;

 

(i) any
amendment, supplement or other modification of any Second Lien Notes Documents or any floor plan financing, together with a fully
executed copy of such amendment, supplement or modification;

 

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

 

(k) any
change in the information provided in the Beneficial Ownership Certification delivered to such Lender that would result in a change
to the list of beneficial owners identified in such certification.

 

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

 

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SECTION
5.03. Existence; Conduct of Business. The
Borrowers will, and will cause each other Loan Party to, do or cause to be done all things necessary to preserve, renew and
keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to
the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or
dissolution permitted under Section 6.03.

 

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

 

SECTION
5.05. Maintenance of Properties; Insurance. The
Borrowers will, and will cause each other Loan Party to, (a) keep and maintain all property material to the conduct of
its business in good working order and condition, ordinary wear and tear excepted, and (b) maintain, with financially
sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by
companies engaged in the same or similar businesses operating in the same or similar locations, in each case as determined by the Administrative Agent. Without limiting the
foregoing, the Borrowers will and will cause each other Loan Party to (i) at all times maintain, if available, fully paid
flood hazard insurance on all real property that is located in a special flood hazard area and that is subject to a Mortgage,
on such terms and in such amounts as required by The National Flood Insurance Reform Act of 1994 (as amended) or as otherwise
required by the Administrative Agent, (ii) furnish to the Administrative Agent evidence of renewal (and payment of renewal
premiums therefor) of all such policies prior to the expiration or lapse thereof, and (iii) furnish to the Administrative
Agent prompt written notice of any re-designation of any such improved real property into or out of a special flood hazard
area. Each such policy of insurance shall (i) name the Administrative Agent, on behalf of Lenders as an additional
insured thereunder as its interests may appear, and (ii) in the case of each casualty insurance policy, contain a
lenders' loss payable clause or endorsement, satisfactory in form and substance to the Administrative Agent, that names the
Administrative Agent, on behalf of Lenders, as the lenders' loss payee thereunder and provides for at least thirty days'
prior written notice to the Administrative Agent of any modification or cancellation of such policy.

 

SECTION
5.06. Books and Records; Inspection Rights. The
Borrowers will, and will cause each other Loan Party to, keep proper 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. The Borrowers will, and
will cause each other Loan Party to, permit any representatives designated by the Administrative Agent or any Lender, upon
reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to
discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and
as often as reasonably requested. The Borrowers will, and will cause each other Loan Party to, permit independent agents or
representatives acceptable to the Administrative Agent to conduct comprehensive field audits and floor plan audits and
appraisals of the each Loan Party's books, records, properties and assets, including, without limitation, all collateral
subject to the Security Documents, and the Borrowers (and the Guarantors, if any) shall pay for the reasonable costs of such
audits and appraisals. The Borrowers agree that the Administrative Agent may require semi-annual appraisals of the equipment
and inventory of the Loan Parties and may require periodic appraisals of the real property of the Loan Parties if determined
to be required by the Administrative Agent, and may order additional appraisals upon and after the occurrence of any Event of
Default. The Administrative Agent will use commercially reasonably efforts to conduct annual field audits and semi-annual
appraisals of the equipment and inventory, provided that the Administrative Agent may conduct such audits and
appraisals more frequently upon the occurrence and during the continuance of an Event of Default.

 

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SECTION
5.07. Compliance with Laws.
Each Borrower will, and will cause each other Loan Party to, comply with all laws, rules, regulations and orders of any Governmental
Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect. No Borrower will, nor will it permit any other Loan Party, to be or become
subject at any time to any law, regulation, or list of any government agency (including, without limitation, the U.S. Office of
Foreign Asset Control list) that prohibits or limits any Lender from making any advance or extension of credit to any Borrower
or Guarantor or from otherwise conducting business with a Borrower or Guarantor, or fail to provide documentary and other evidence
of any Borrower's or Guarantor's identity as may be reasonably requested by any Lender at any time to enable such Lender to verify
each Borrower's or Guarantor's identity or to comply with any applicable law or regulation, including, without limitation, Section
326 of the USA PATRIOT Act of 2001, 31 U.S.C. Section 5318. Each Borrower will maintain, and cause each Loan Party to maintain,
in effect and enforce policies and procedures designed to ensure compliance by the Loan Parties and their respective directors,
officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.

 

SECTION
5.08. Use of Proceeds and Letters of Credit. The
proceeds of the Revolving Loans will be used for refinancing certain Indebtedness in existence on the Effective Date, for
working capital needs and for other general corporate purposes (including the Transactions) of the Loan Parties in the
ordinary course of business. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and
X. No Borrower will request any Borrowing or Letter of Credit, and no Borrower shall use, and each Borrower shall procure
that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of
any Borrowing or Letter of Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or
giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of
funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any
Sanctioned Country, except to the extent permitted for a Person required to comply with Sanctions, or (c) in any manner that
would result in the violation of any Sanctions applicable to any party hereto.

 

SECTION
5.09. Collateral Security; Further Assurances.
(a) To guarantee or secure the payment when due of the Secured Obligations, each Borrower shall execute and deliver, or cause
to be executed and delivered, to the Lenders and the Administrative Agent Collateral Documents granting or providing for the following:

 

(i) Loan
Party Guaranties of all present and future Guarantors.

 

(ii) Security
Agreements granting a first priority, enforceable Lien and security interest, subject only to Liens permitted by Section 6.02,
on all present and future accounts, chattel paper, commercial tort claims, deposit accounts, documents, farm products, fixtures,
chattel paper, equipment, general intangibles, goods, instruments, inventory, investment property, letter-of-credit rights (as
terms are defined in the UCC) and all other personal property of each Loan Party.

 

(iii) Mortgages
granting a first priority, enforceable Lien and security interest, subject only to Liens permitted by Section 6.02, on all present
and future material fee real property (including fixtures) of each Loan Party, together with such documents and the satisfaction
of such other conditions customarily required in connection with Mortgages as reasonably determined by the Administrative Agent
and at the Borrowers’ expense.

 

(iv) All
other security and collateral described in the Collateral Documents.

 

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(b) Each
Borrower agrees that it will promptly, and in any event within five (5) Business Days, notify the Administrative Agent of the formation or acquisition of any Subsidiary or the
acquisition of any assets on which a Lien is required to be granted and that is not covered by existing Collateral Documents.
Each Borrower agrees that it will promptly, and in any event within five (5) Business Days, execute and deliver, and cause each Loan Party to execute and deliver, promptly, and in any event within five (5) Business Days, upon
the request of the Administrative Agent, such joinder agreements, Loan Party Guaranties and other Collateral Documents and other
agreements, documents and instruments, each in form and substance reasonably satisfactory to the Administrative Agent, sufficient
to join each Loan Party as a Borrower to this Agreement and to grant to the Administrative Agent, for the benefit of the Lenders
and the Administrative Agent, the Loan Party Guaranties and Liens contemplated by this Agreement and the Collateral Documents.
In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly
formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations,
including the USA Patriot Act. The Borrowers shall deliver, and cause each other Loan Party to deliver, to the Administrative
Agent all original instruments payable to it with any endorsements thereto required by the Administrative Agent and all original
certificated securities and other certificates with respect to any Equity Interests owned by any Loan Party and required to be
pledged with any blank stock or other powers required by the Administrative Agent. Additionally, the Borrowers shall execute and
deliver, and cause each other Loan Party to execute and deliver, promptly, and in any event within five (5) Business Days, upon the request of the Administrative Agent, such certificates,
legal opinions, insurance, lien searches, environmental reports, organizational and other charter documents, resolutions and other
documents and agreements as the Administrative Agent may reasonably request in connection therewith. Each Borrower shall use commercially
reasonable efforts to cause each lessor of real property to any Loan Party where any material Collateral is located to execute
and deliver to the Administrative Agent an agreement in form and substance reasonably acceptable to the Administrative Agent.
Each Borrower shall execute and deliver, and cause each other Loan Party to execute and deliver, promptly, and in any event within five (5) Business Days, upon the request of
the Administrative Agent, such agreements and instruments evidencing any intercompany loans or other advances among the Loan Parties,
or any of them, and all such intercompany loans or other advances owing by any Borrower or owing by any Guarantor which are not
owed to a Borrower shall be, and are hereby made, subordinate and junior to the Secured Obligations and no payments may be made
on such intercompany loans or other advances upon and during the continuance of an Event of Default unless otherwise agreed to
by the Administrative Agent.

 

(c) Notwithstanding
anything to the contrary in this Agreement, the Borrowers acknowledge that all Subsidiaries of any of the Borrowers, whether now
existing or hereafter arising, are required hereunder to become a Borrower, Guarantor and Loan Party, and failure to do so in accordance
with the terms of this Agreement shall be an Event of Default hereunder.

 

SECTION
5.10. Depository Banks. Each Loan
Party shall maintain the Administrative Agent as such Loan Party’s principal depository bank, including for the
maintenance of operating, administrative, cash management, collection activity, and other deposit accounts for the conduct of
its business and as its principal source of other Banking Services. In addition, (i) NITCO may maintain a deposit account
with Citizens Bank, N.A. for up to 120 days after the date hereof, and may maintain such account (or an account with a
different bank satisfactory to the Administrative Agent in place of such Citizens Bank account) thereafter so long as it is
subject to a deposit account control agreement satisfactory to the Administrative Agent, (ii) Alta Construction Equipment
Florida may maintain deposit accounts acquired pursuant to the Flagler Acquisition for up to 180 days after the date hereof,
or such later date as consented to by the Administrative Agent in its sole discretion, (iii) NITCO may continue to maintain
the deposit account with KeyBank National Association acquired pursuant to the Liftech Acquisition so long as any funds in
such account exceeding $100,000 shall be immediately transferred to a deposit account with the Administrative Agent, and
(iv) the Loan Parties may maintain such other deposit accounts as the Administrative Agent approves in its Permitted
Discretion, and such deposit accounts shall be subject to the terms of the Security Agreement.

 

SECTION
5.11 Additional Covenants. If at any time any Loan Party enters into or becomes a party to any instrument or agreement
relating to or amending or otherwise modifying any provisions applicable to the Second Lien Credit Agreement, which includes
any material covenants or defaults not substantially provided for in this Agreement or more favorable to the lender or
lenders thereunder than those provided for in this Agreement, then the Borrowers will promptly so advise the Administrative
Agent and the Lenders. Thereupon, if the Administrative Agent or the Required Lenders shall request, upon notice to the
Borrowers, the Administrative Agent and the Lenders shall enter into an amendment to this Agreement or an additional
agreement (as the Administrative Agent may request), providing for substantially the same material covenants and defaults as
those provided for in such instrument or agreement to the extent required and as may be selected by (i) the Administrative
Agent or (ii) the Required Lenders.

 

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ARTICLE
VI Negative Covenants

 

Until
all of the Secured Obligations shall have been Paid in Full, each Borrower executing this Agreement covenants and agrees, jointly
and severally with all of the other Borrowers, with the Lenders that, at all times on and after the Effective Date (and all covenants
in Article VI of the Existing Credit Agreement shall be effective until the Effective Date):

 

SECTION
6.01. Indebtedness.
No Borrower will, nor will it permit any other Loan Party to, create, incur, assume or permit to exist any Indebtedness, except:

 

(a) Secured
Obligations;

 

(b) Floor
Plan Obligations, provided that any increases in the amount thereof are subject to the Second Lien Intercreditor Agreement and
any refinancing thereof shall be made in accordance with the Second Lien Intercreditor Agreement;

 

(c) Second
Lien Obligations, provided that any increases in the amount thereof are subject to the Second Lien Intercreditor Agreement and
any refinancing thereof shall be made in accordance with the Second Lien Intercreditor Agreement;

 

(d) other
Indebtedness existing on the Effective Date and set forth in Schedule 6.01 and not to exceed the amounts set forth
on Schedule 6.01, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding
principal amount thereof; provided that any floor plan financings set forth on Schedule 6.01 may be increased subject to
compliance with Section 6.01(j) and the other terms hereof, and the outstanding borrowed amounts under vendor floor plan financings
described on Schedule 6.01 shall be subject to Section 6.01(j) below;

 

(e) Indebtedness
among the Loan Parties, provided that any such Indebtedness owing by any Borrower shall qualify as Subordinated Debt if requested
by the Administrative Agent;

 

(f) Indebtedness
of any Loan Party incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital
Lease Obligations (other than those Capital Lease Obligations permitted pursuant to Section 6.01(i) below) and any Indebtedness
assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition
thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount
thereof; provided that (i) such Indebtedness is incurred prior to or within ninety (90) days after such acquisition or
the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause
(e) shall not exceed $3,000,000 at any time outstanding;

 

(g) Swap
Obligations permitted under Section 6.05;

 

(h) Subordinated
Debt, including any refinancing thereof, in each case on terms reasonably satisfactory to the Administrative Agent;

 

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(i) Indebtedness
of Loan Parties reasonably acceptable to the Administrative Agent consisting of floor plan financings (including any Floor Plan
Financings) and other vendor financing reasonably acceptable to the Administrative Agent and, if required by the Administrative
Agent, subject to an intercreditor agreement reasonably acceptable to the Administrative Agent, provided that (x) the aggregate
stated maximum amount of all such floor plan financings and all such other vendor financing plus the aggregate stated maximum
amount of all vendor floor plan financings described on Schedule 6.01 shall not exceed $225,000,000 at any time, provided,
further, that any Indebtedness owing to any Person and its Affiliates listed on Schedule 6.01 that is not a party to an
intercreditor agreement with, and reasonably acceptable to, the Administrative Agent shall not exceed the amount designated on
Schedule 6.01 for such Person and its Affiliates, regardless of whether such Indebtedness is otherwise permitted under
this clause (i) or any other clause of this Section 6.01 and notwithstanding any other term of this Agreement, and (y) no Default
exists or would be caused thereby; and

 

(j) Indebtedness
of the type described in clauses (d) or (m) of the definition of Indebtedness of any Loan Party in connection with a Permitted
Acquisition, not to exceed $10,000,000 in the aggregate outstanding at any time.

 

SECTION
6.02. Liens.
No Borrower will, nor will it permit any other Loan Party to, create, incur, assume or permit to exist any Lien on any property
or asset now owned or hereafter acquired by it except:

 

(a) Permitted
Encumbrances;

 

(b) Liens
in favor of the Administrative Agent securing the Secured Obligations, Liens in favor of the Floor Plan Administrative Agent securing
the Floor Plan Obligations subject to the First Lien Intercreditor Agreement and subordinate Liens securing the Second Lien Obligations
subject to the Second Lien Intercreditor Agreement;

 

(c) any
Lien on any property or asset of any Loan Party existing on the Effective Date and set forth in Schedule 6.02; provided
that (i) such Lien shall not apply to any other property or asset of any Loan Party and (ii) such Lien shall secure only those
obligations which it secures on the Effective Date and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof;

 

(d) Liens
on fixed or capital assets acquired, constructed or improved by any Loan Party; provided that (i) such security interests
secure Indebtedness permitted by clause (e) of Section 6.01, (ii) such security interests and the Indebtedness
secured thereby are incurred prior to or within ninety (90) days after such acquisition or the completion of such construction
or improvement, (iii) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such
fixed or capital assets and (iv) such security interests shall not apply to any other property or assets of any Loan Party;
and

 

(e) Liens
solely on equipment of a Loan Party acceptable to the Administrative Agent purchased with Indebtedness permitted under Section
6.01(i) on terms reasonably approved in writing by the Administrative Agent.

 

Notwithstanding
anything herein to the contrary, the Liens securing any Indebtedness and other obligations under any floor plan financing (other
than the floor plan financing hereunder) shall be limited to a Lien on the inventory financed by the applicable floor plan financing
and proceeds of such inventory, and any such Lien shall not attach to any other assets or any such inventory after the payment
of the purchase price for such inventory.

 

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SECTION
6.03. Fundamental Changes.
(a) No Borrower will, nor will it permit any other Loan Party to, merge into or consolidate with any other Person, or permit
any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise Dispose of (in one transaction or
in a series of transactions) any of its assets, or liquidate or dissolve, except that, and provided that with respect to the matters
in the following clauses (ii) through (v) at the time thereof and immediately after giving effect thereto no Default shall have
occurred and be continuing, (i) any Borrower or Subsidiary may sell, transfer or lease inventory and scrap or otherwise dispose
of obsolete material, inventory or equipment in the ordinary course of business upon terms substantially consistent with past
practices, (ii) any Subsidiary of a Borrower may merge into a Borrower in a transaction in which a Borrower is the surviving entity,
(iii) any Loan Party (other than a Borrower) may merge into any other Loan Party in a transaction in which the surviving
entity is a Loan Party, (iv) any Borrower may merge into any other Borrower (other than Alta Group), (v) any Loan Party may
sell, transfer, lease or otherwise dispose of its assets to any other Loan Party, and (vi) any Subsidiary may liquidate or dissolve
if the Borrowers determine in good faith that such liquidation or dissolution is in the best interests of the Borrowers and is
not materially disadvantageous to the Lenders and all assets of such Subsidiary are transferred to a Loan Party; provided
that any such merger involving a Person that is not a wholly-owned Subsidiary immediately prior to such merger shall not be permitted
unless also permitted by Section 6.04.

 

(b) No
Loan Party will, nor will it permit any Subsidiary to, consummate a Division as the Dividing Person, without the prior written
consent of Administrative Agent. Without limiting the foregoing, if any Loan Party that is a limited liability company consummates
a Division (with or without the prior consent of Administrative Agent as required above), each Division Successor shall be required
to comply with the obligations set forth in Section 5.09 and the other further assurances obligations set forth in the Loan Documents
and become a Loan Party under this Agreement and the other Loan Documents.

 

(c) No
Borrower will, nor will it permit any Guarantor to, engage to any material extent in any business other than businesses of the
type conducted by the Borrowers and Guarantors on the date of execution of this Agreement and businesses reasonably related thereto.

 

SECTION
6.04. Investments, Loans, Advances, Guarantees and Acquisitions.
No Borrower will, nor will it permit any other Loan Party to, purchase, hold or acquire (including pursuant to any merger with
any Person that was not a wholly owned Subsidiary prior to such merger) any Equity Interests, evidences of indebtedness or other
securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans
or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person,
or make any Acquisition, except:

 

(a) Permitted
Investments;

 

(b) existing
investments and advances described on Schedule 6.04 hereto, but no increase in the amount thereof;

 

(c) loans
or advances solely among Loan Parties;

 

(d) if
no Default exists or would be caused thereby, Guarantees constituting Indebtedness permitted by Section 6.01, provided that no
Default exists at the time of, or would be caused by, the incurrence of such Guarantees;

 

(e) investments
received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers
and suppliers, in each case in the ordinary course of business;

 

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(f) the
Loan Parties may create one or more Subsidiaries to conduct the business of the Borrowers in accordance with Section 5.03 so long
as such Subsidiaries promptly after their creation become Guarantors;

 

(g) Permitted
Acquisitions; and

 

(h) in
addition to investments, loans and advances permitted by paragraphs (a) through (g) above, other investments, loans and advances
by the Borrowers and the Guarantors provided that (i) the aggregate amount invested, loaned or advanced pursuant to this paragraph
(h) (determined without regard to any write-downs or write-offs of such investments, loans and advances) does not exceed $500,000
in the aggregate, (ii) no Default exists or would be caused thereby, and (iii) the aggregate unused amount of the Revolving Commitments
on a pro forma basis after giving effect to such additional investment, loan or advance equals or exceeds $10,000,000.

 

SECTION
6.05. Swap Agreements.
No Borrower will, nor will it not permit any other Loan Party to, enter into any Swap Agreement, except (a) Swap Agreements entered
into to hedge or mitigate risks to which any Loan Party has actual exposure, and (b) Swap Agreements entered into in order to
effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate
or otherwise) with respect to any interest-bearing liability or investment of any Loan Party and (c) in each case under clause
(a) and (b), to the extent reasonably approved by Administrative Agent.

 

SECTION
6.06. Restricted Payments.
The Borrowers will not, and will not permit any other Loan Party to, declare or make, or agree to pay or make, directly or indirectly,
any Restricted Payment, except: 

 

(a) the
Loan Parties may declare and pay dividends with respect to their Equity Interests payable solely in additional common shares of
their Equity Interests (other than Disqualified Equity),

 

(b) the
Loan Parties may make Restricted Payments payable solely to a Loan Party, and

 

(c) Alta
Group may make other Restricted Payments so long as (i) after giving effect to such Restricted Payment pursuant to this clause
(c) the Total Leverage Ratio is less than 4.05 to 1.00 (determined as if such Restricted Payment had been made on the last day
of the most recent Fiscal Quarter for which the Borrowers have provided financial statements to the Administrative Agent pursuant
to Section 5.01) and the Borrowers have provided evidence of such compliance in form and substance satisfactory to the Administrative
Agent, and (ii) the Payment Condition is satisfied.

 

Notwithstanding
the foregoing, the Borrowers will not, and will not permit any Subsidiary to, issue any Disqualified Equity.

 

SECTION
6.07. Transactions with Affiliates.
The Borrowers will not, and will not permit any other Loan Party
to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets
from, or otherwise engage in any other transactions with, any of its Affiliates, except (a) in the ordinary course of business
at prices and on terms and conditions not less favorable to such Loan Party than could be obtained on an arm's-length basis from
unrelated third parties, (b) transactions solely among Loan Parties, and in each case not involving any other Affiliate and (c)
any Restricted Payment permitted by Section 6.06.

 

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SECTION
6.08. Restrictive Agreements.
No Borrower will, and will not permit any other Loan Party to, directly or indirectly, enter into, incur or permit to exist any
agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of any Loan Party to create,
incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or
other distributions with respect to any shares of its Equity Interests or to make or repay loans or advances to a Borrower or
any other Subsidiary or to Guarantee Indebtedness of the Borrowers or any other Subsidiary; provided that (i) the foregoing
shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii) the foregoing shall not apply to restrictions
and conditions imposed by the Floor Plan Credit Agreement or the Second Lien Note Purchase Agreement as of the Effective Date,
subject to the Intercreditor Agreements, (iii) the foregoing shall not apply to customary restrictions and conditions contained
in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to
the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) above shall not apply to restrictions
or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness and (v) clause (a) above shall not apply to customary provisions
in leases restricting the assignment thereof.

 

SECTION
6.09. Change of Name or Location; Change of Fiscal Year.
No Loan Party shall (a) change its name as it appears in official filings in the state of its incorporation or organization, (b)
change its chief executive office, principal place of business, mailing address, corporate offices or warehouses or locations
at which Collateral is held or stored, or the location of its records concerning the Collateral as set forth in the Collateral
Documents, (c) change the type of entity that it is, (d) change its organization identification number, if any, issued by its
state of incorporation or other organization, or (e) change its state of incorporation or organization, in each case, unless the
Administrative Agent shall have received at least thirty (30) days prior written notice of such change and the Administrative
Agent shall have acknowledged in writing that either (1) such change will not adversely affect the validity, perfection or priority
of the Administrative Agent's security interest in the Collateral, or (2) any reasonable action requested by the Administrative
Agent in connection therewith has been completed or taken (including any action to continue the perfection of any Liens in favor
of the Administrative Agent, on behalf of Lenders, in any Collateral), provided that, any new location shall be in the
continental U.S. No Loan Party shall change its Fiscal Year or Fiscal Quarter end without the prior consent of the Administrative
Agent.

 

SECTION
6.10. Amendments to Agreements. No Borrower
will, nor will it permit any other Loan Party to, amend, supplement or otherwise modify (a) its articles of incorporation, charter,
certificate of formation, operating agreement, by-laws or other organizational document in any manner adverse to the Lenders,
(b) any Second Lien Notes Document except as permitted under the Second Lien Intercreditor Agreement, or (c) any instrument or
agreement evidencing or relating to any Subordinated Debt except as permitted under the applicable Subordination Agreement.

 

SECTION
6.11. Prepayment of Indebtedness; Subordinated Debt.
No Borrower will, nor will it permit any other Loan Party to, directly or indirectly (a) make any payment or other distribution
with respect to any Subordinated Debt in contravention of the applicable Subordination Agreement or with respect to any Second
Lien Obligations in contravention of the Second Lien Intercreditor Agreement or (b) voluntarily purchase, redeem, defease or prepay
any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness (including without limitation
any Second Lien Obligations) prior to its scheduled maturity, other than:

 

(i)
the Secured Obligations and the Floor Plan Obligations;

 

(ii)
Indebtedness secured by a Lien permitted by Section 6.02(c) if the asset securing such Indebtedness has been sold or otherwise
disposed of in accordance herewith;

 

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(iii)
Indebtedness permitted hereunder upon any permitted refinancing thereof in accordance herewith (or with respect to any Second
Lien Obligations in accordance with the Second Lien Intercreditor Agreement); and

 

(iv)
voluntary prepayments of the Second Lien Obligations so long as (w) after giving effect to such prepayment pursuant to this clause
(iv) the Fixed Charge Coverage Ratio is not less than 1.0 to 1.0 (as determined on a pro forma as if such prepayment had
been made on the last day of the most recent Fiscal Quarter for which the Borrowers have provided financial statements to the
Administrative Agent pursuant to Section 5.01), (x) no Default has occurred and is continuing or would result immediately after
giving effect to such prepayment; (y) immediately after giving effect to such prepayment and at all times during the 60-day period
immediately prior thereto, the Borrowers shall have Availability calculated on a on a pro forma basis acceptable to the Administrative
Agent of not less than 17.5% of the Revolving Commitment; and (z) the Borrower Representative shall have delivered to the Administrative
Agent a certificate in form and substance reasonably satisfactory to the Administrative Agent certifying as to the items described
in (w), (x) and (y) above and attaching calculations for item (w).

 

SECTION
6.12. Government Regulation. No Loan Party
shall be or become subject at any time to any law, regulation, or list of any government agency (including, without limitation,
the U.S. Office of Foreign Asset Control list) that prohibits or limits any Lender from making any advance or extension of credit
to any Loan Party or from otherwise conducting business with the Borrowers or Guarantors, or fail to provide documentary and other
evidence of any Loan Party's identity as may be requested by any Lender at any time to enable such Lender to verify any Loan Party's
identity or to comply with any applicable law or regulation, including, without limitation, Section 326 of the USA PATRIOT Act
of 2001, 31 U.S.C. Section 5318.

 

SECTION
6.13. Financial Covenants. The Borrowers will not:

 

(a) Total
Leverage Ratio. Permit or suffer the Total Leverage Ratio to exceed (i) 4.70 to 1.00 as of the end of any Fiscal Quarter ending
on or after March 31, 2020 but on or before December 31, 2020, (ii) 4.30 to 1.00 as of the end of any Fiscal Quarter ending on
or after March 31, 2021 but on or before December 31, 2021, (iii) 4.20 to 1.00 as of the end of any Fiscal Quarter ending on or
after March 31, 2022 but on or before December 31, 2022 or (iv) 4.00 to 1.00 as of the end of any Fiscal Quarter ending on or
after March 31, 2023.

 

(b) First
Lien Leverage Ratio. Permit or suffer the First Lien Leverage Ratio to exceed 2.50 to 1.00 as of the end of any Fiscal Quarter
ending on or after March 31, 2020.

 

(c) Second
Lien Note Coverage Ratio. Permit or suffer the Consolidated Second Lien Note Ratio to be less than 1.10 to 1.00 at any time.

 

(d) Minimum
EBITDA. Permit or suffer the result of (i) Consolidated EBITDA less (ii) any noncash gains or losses on the sale of fixed
or capital assets offset for gains from the sale of fixed or capital assets calculated (A) at the price at which the applicable
Loan Party sold the applicable asset, minus (B) such Loan Party’s initial purchase price of such asset (for the avoidance
of doubt, without reducing this clause (B) for any depreciation or amortization thereof) to be less than $79,000,000 for the Fiscal
Year ended December 31, 2019.

 

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(e) Fixed
Charge Coverage Ratio. As of the end of any Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2020 for which
Borrowers’ financial statements have been (or should have been) delivered prior to the date on which the Borrowers’
Availability is less than 10% of the Revolving Commitment, the Borrowers will not permit the Fixed Charge Coverage Ratio to be
less than 1.0 to 1.0.  Once such covenant is in effect, compliance with the covenant will be discontinued on the first
day immediately succeeding the last day of the Fiscal Quarter which includes the 60th consecutive day on which the Borrowers’
Availability remains in excess of 10% of the Revolving Commitment, so long as (i) no Default shall have occurred and be continuing
and (ii)  such covenant has not been in effect and discontinued (A) more than once in the immediately preceding twelve (12)
consecutive months or (B) more than three times during the term of this Agreement. Notwithstanding anything in this Agreement
to the contrary, for the purposes of calculating the Fixed Charge Coverage Ratio, the Borrower’s historical EBITDA, Capital
Expenditures and Fixed Charges generated and paid prior to the Effective Date shall be deemed equal to such amounts as set forth
on Schedule 6.13(a) hereto for the applicable periods described on Schedule 6.13(a).

 

SECTION
6.14. Alta Group, Alta Holdings and Alta Enterprises as a Holding Company. Alta Enterprises shall not (a) incur, directly
or indirectly, any Indebtedness or any other obligation or liability whatsoever other than the Indebtedness and obligations under
the Loan Documents, the Floor Plan Loan Documents and the Second Lien Notes Documents and unsecured guaranties of its Subsidiaries
floor plan financing with Volvo Commercial Finance LLC The Americas in respect of Volvo financing; (b) create or suffer to exist
any Lien upon any property or assets now owned or hereafter acquired by it other than the Liens, subject to the Second Lien Intercreditor
Agreement, in favor of the Administrative Agent, the Floor Plan Administrative Agent and the Second Lien Notes Representative;
(c) engage in any business or activity or own any assets other than (i) holding 100% of the Equity Interest of each other Borrower
(other than Alta Group and Alta Holdings); and (ii) performing its obligations and activities incidental thereto under the Loan
Documents, the Floor Plan Loan Documents and the Second Lien Notes Documents; (d) consolidate with or merge with or into, or convey,
transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any Equity Interests of
any of its Subsidiaries; or (f) fail to hold itself out to the public as a legal entity separate and distinct from all other Persons.
Alta Holdings shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation or liability whatsoever other
than the Indebtedness and obligations under the Loan Documents, the Floor Plan Loan Documents and the Second Lien Notes Documents;
(b) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other than the Liens,
subject to the Second Lien Intercreditor Agreement, in favor of the Administrative Agent, the Floor Plan Administrative Agent
and the Second Lien Notes Representative; (c) engage in any business or activity or own any assets other than (i) holding the
Equity Interest of Alta Enterprises; and (ii) performing its obligations and activities incidental thereto under the Loan Documents,
the Floor Plan Loan Documents and the Second Lien Notes Documents; (d) consolidate with or merge with or into, or convey, transfer
or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any Equity Interests of Alta Enterprises
other than to Alta Group; or (f) fail to hold itself out to the public as a legal entity separate and distinct from all other
Persons. Alta Group shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation or liability whatsoever
other than the Indebtedness and obligations under the Loan Documents, the Floor Plan Loan Documents and the Second Lien Notes
Documents; (b) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other than
the Liens, subject to the Second Lien Intercreditor Agreement, in favor of the Administrative Agent, the Floor Plan Administrative
Agent and the Second Lien Notes Representative; (c) engage in any business or activity or own any assets other than (i) holding
the Equity Interest of Alta Holdings and Alta Enterprises; and (ii) performing its obligations and activities incidental thereto
under the Loan Documents, the Floor Plan Loan Documents and the Second Lien Notes Documents; (d) consolidate with or merge with
or into, or convey, transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any
Equity Interests of Alta Enterprises or Alta Holdings; or (f) fail to hold itself out to the public as a legal entity separate
and distinct from all other Persons.

 

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ARTICLE
VII Events of Default

 

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

 

(a) any
Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and
as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

 

(b) any
Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause
(a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable,
and such failure shall continue unremedied for a period of three (3) Business Days;

 

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

 

(d) any
Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.01, 5.02, 5.03, 5.05,
5.08, 5.09, 5.10 or 5.11 or in Article VI;

 

(e) any
Loan Party shall fail to observe or perform any covenant, condition or agreement contained in this Agreement or any other Loan
Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for
a period of fifteen (15) days after the earlier of (i) the Borrowers obtaining actual knowledge of such defaults and (ii) notice
thereof from the Administrative Agent to the Borrowers (which notice will be given at the request of any Lender);

 

(f)
any Loan Party shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material
Indebtedness, when and as the same shall become due and payable and all applicable grace periods thereunder shall have expired;

 

(g) any
event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables
(with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee
or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption
or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Indebtedness
that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness;

 

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

 

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

 

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(j) any
Loan Party shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;

 

(k) one
or more judgments for the payment of money in an aggregate amount in excess of $2,500,000 shall be rendered against any Loan Party
or any combination thereof and the same shall remain undischarged for a period of thirty (30) consecutive days during which
execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon
any assets of any Loan Party to enforce any such judgment;

 

(l) an
ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events
that have occurred, could reasonably be expected to result in liability of any Loan Party in an aggregate amount exceeding $2,500,000
for all periods;

 

(m) a
Change in Control shall occur;

 

(n) any
Collateral Document shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the
invalidity or unenforceability of any Collateral Document, or any Loan Party shall fail to comply with any of the terms or provisions
of any Collateral Document if the failure continues beyond any period of grace provided for in the applicable Collateral Document,
or any Collateral Document granting a Lien shall for any reason fail to create a valid and perfected first priority security interest
in any material Collateral purported to be covered thereby or subordination to be created thereunder, except as permitted by the
terms of this Agreement or any Collateral Document, and in each case except to the extent that any such loss of perfection or
priority results from the failure of the Collateral Agent to maintain possession of certificates representing securities pledged
under the Collateral Documents and except to the extent that such loss is covered by a lender’s title insurance policy and
the related insurer promptly after such loss shall have acknowledged in writing that such loss is covered by such title insurance
policy;

 

(o) any
material provision of any other Loan Document for any reason ceases to be valid, binding and enforceable in accordance with its
terms (or any Loan Party shall challenge the enforceability of any Loan Document or shall assert in writing, or engage in any
action or inaction based on any such assertion, that any provision of any of the Loan Documents has ceased to be or otherwise
is not valid, binding and enforceable in accordance with its terms); or

 

(p) the
cancellation or termination of any franchise agreement of any Borrower with Hyster-Yale Group, Inc. or Volvo Construction Equipment,
NA (collectively, the “Material OEMs”), unless such Borrower has entered into replacement franchise agreements within
90 days of such cancellation or termination (i) with another OEM of comparable business value to the Material OEMs, and (ii) upon
similar terms and conditions to the agreements cancelled or terminated with the Material OEMs, including volume, exclusivity and
other requirements, each of which shall be acceptable in form and substance to the Administrative Agent in its Permitted Discretion;

 

(q) (i)
an Event of Default (as defined in the Floor Plan Credit Agreement on the Effective Date) shall occur and be continuing under
the Floor Plan Credit Agreement, (ii) the Floor Plan Credit Agreement is terminated, (iii) for any reason the Floor Plan Credit
Agreement ceases to be in full force and effect, or ceases to be binding on the Borrowers, (iv) for any reason, JPMCB is no longer
a Lender under the Floor Plan Credit Agreement, or (v) for any reason, JPMCB is not the Floor Plan Administrative Agent; or

 

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(r) any
Subordination Agreement or Intercreditor Agreement shall fail to remain in full force or effect, or any event of default shall
have occurred under any Subordination Agreement or Intercreditor Agreement, or any action shall be taken to discontinue or to
assert the invalidity or unenforceability of any provision of any Subordination Agreement or Intercreditor Agreement;

 

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

 

ARTICLE
VIII The Administrative Agent

 

SECTION
8.01. Authorization and Action.

 

(a) Each
Lender, on behalf of itself and any of its Affiliates that are Secured Parties and each Issuing Bank hereby irrevocably appoints
the entity named as Administrative Agent in the heading of this Agreement and its successors and assigns to serve as the administrative
agent and collateral agent under the Loan Documents and each Lender and each Issuing Bank authorizes the Administrative Agent
to take such actions as agent on its behalf and to exercise such powers under this Agreement and the other Loan Documents as are
delegated to the Administrative Agent under such agreements and to exercise such powers as are reasonably incidental thereto.
In addition, to the extent required under the laws of any jurisdiction other than within the United States, each Lender and each
Issuing Bank hereby grants to the Administrative Agent any required powers of attorney to execute and enforce any Collateral Document
governed by the laws of such jurisdiction on such Lender’s or such Issuing Bank’s behalf. Without limiting the foregoing,
each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver, and to perform its obligations
under, each of the Loan Documents to which the Administrative Agent is a party, and to exercise all rights, powers and remedies
that the Administrative Agent may have under such Loan Documents.

 

(b) As
to any matters not expressly provided for herein and in the other Loan Documents

 

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(c) (including
enforcement or collection), the Administrative Agent shall not be required to exercise any discretion or take any action, but
shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon
the written instructions of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, pursuant
to the terms in the Loan Documents), and, unless and until revoked in writing, such instructions shall be binding upon each Lender
and each Issuing Bank; provided, however, that the Administrative Agent shall not be required to take any action that (i) the
Administrative Agent in good faith believes exposes it to liability unless the Administrative Agent receives an indemnification
and is exculpated in a manner satisfactory to it from the Lenders and the Issuing Banks with respect to such action or (ii) is
contrary to this Agreement or any other Loan Document or applicable law, including any action that may be in violation of the
automatic stay under any requirement of law relating to bankruptcy, insolvency or reorganization or relief of debtors or that
may affect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any requirement of law
relating to bankruptcy, insolvency or reorganization or relief of debtors; provided, further, that the Administrative Agent may
seek clarification or direction from the Required Lenders prior to the exercise of any such instructed action and may refrain
from acting until such clarification or direction has been provided. Except as expressly set forth in the Loan Documents, the
Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to any Borrower, any other Loan Party, any Subsidiary or any Affiliate of any of the foregoing that is communicated to
or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. Nothing in this Agreement
shall require the Administrative Agent to expend or risk its own funds or otherwise incur any financial liability in the performance
of any of its duties hereunder or in the exercise of any of its rights or powers if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 

(d) In
performing its functions and duties hereunder and under the other Loan Documents, the Administrative Agent is acting solely on
behalf of the Lenders and the Issuing Banks (except in limited circumstances expressly provided for herein relating to the maintenance
of the Register), and its duties are entirely mechanical and administrative in nature. Without limiting the generality of the
foregoing:

 

(i) the
Administrative Agent does not assume and shall not be deemed to have assumed any obligation or duty or any other relationship
as the agent, fiduciary or trustee of or for any Lender, Issuing Bank, any other Secured Party or holder of any other obligation
other than as expressly set forth herein and in the other Loan Documents, regardless of whether a Default or an Event of Default
has occurred and is continuing (and it is understood and agreed that the use of the term “agent” (or any similar term)
herein or in any other Loan Document with reference to the Administrative Agent is not intended to connote any fiduciary duty
or other implied (or express) obligations arising under agency doctrine of any applicable law, and that such term is used as a
matter of market custom and is intended to create or reflect only an administrative relationship between contracting parties);
additionally, each Lender agrees that it will not assert any claim against the Administrative Agent based on an alleged breach
of fiduciary duty by the Administrative Agent in connection with this Agreement and/or the transactions contemplated hereby;

 

(ii) where
the Administrative Agent is required or deemed to act as a trustee in respect of any Collateral over which a security interest
has been created pursuant to a Loan Document expressed to be governed by the laws of country, or is required or deemed to hold
any Collateral “on trust” pursuant to the foregoing, the obligations and liabilities of the Administrative Agent to
the Secured Parties in its capacity as trustee shall be excluded to the fullest extent permitted by applicable law; and

 

(iii) nothing
in this Agreement or any Loan Document shall require the Administrative Agent to account to any Lender for any sum or the profit
element of any sum received by the Administrative Agent for its own account;

 

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(e) The
Administrative Agent may perform any of its duties and exercise its rights and powers hereunder or under any other Loan Document
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent
may perform any of their respective duties and exercise their respective rights and powers through their respective Related Parties.
The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative
Agent and any such sub-agent, and shall apply to their respective activities pursuant to this Agreement. The Administrative Agent
shall not be responsible for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction
determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct
in the selection of such sub-agent.

 

(f) None
of any Syndication Agent, any Co-Documentation Agent or any Arranger shall have obligations or duties whatsoever in such capacity
under this Agreement or any other Loan Document and shall incur no liability hereunder or thereunder in such capacity, but all
such persons shall have the benefit of the indemnities provided for hereunder.

 

(g) In
case of the pendency of any proceeding with respect to any Loan Party under any Federal, state or foreign bankruptcy, insolvency,
receivership or similar law now or hereafter in effect, the Administrative Agent (irrespective of whether the principal of any
Loan or any reimbursement obligation in respect of any LC Disbursement 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 the Borrowers) shall
be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

 

(i) to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, LC Disbursements
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, the Issuing Banks and the Administrative Agent (including any claim under Sections 2.12, 2.13,
2.15, 2.17 and 9.03) allowed in such judicial proceeding; and

 

(ii) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such proceeding is hereby
authorized by each Lender, each Issuing Bank and each other Secured Party to make such payments to the Administrative Agent and,
in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, the Issuing Banks
or the other Secured Parties, to pay to the Administrative Agent any amount due to it, in its capacity as the Administrative Agent,
under the Loan Documents (including under Section 9.03). 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 Issuing Bank any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or Issuing Bank or to authorize the Administrative
Agent to vote in respect of the claim of any Lender or Issuing Bank in any such proceeding.

 

(h) The
provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Banks, and, except
solely to the extent of the Borrowers’ rights to consent pursuant to and subject to the conditions set forth in this Article,
none of the Borrowers or any Subsidiary, or any of their respective Affiliates, shall have any rights as a third party beneficiary
under any such provisions. Each Secured Party, whether or not a party hereto, will be deemed, by its acceptance of the benefits
of the Collateral and of the Guarantees of the Secured Obligations provided under the Loan Documents, to have agreed to the provisions
of this Article.

 

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SECTION
8.02. Administrative Agent’s Reliance, Indemnification, Etc.

 

(a)
Neither the Administrative Agent nor any of its Related Parties shall be (i) liable for any action taken or omitted to be taken
by such party, the Administrative Agent or any of its Related Parties under or in connection with this Agreement or the other
Loan Documents (x) with the consent of or at the request of the Required Lenders (or such other number or percentage of the Lenders
as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as
provided in the Loan Documents) or (y) in the absence of its own gross negligence or willful misconduct (such absence to be presumed
unless otherwise determined by a court of competent jurisdiction by a final and non-appealable judgment) or (ii) responsible in
any manner to any of the Lenders for any recitals, statements, representations or warranties made by any Loan Party or any officer
thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred
to or provided for in, or received by the Administrative Agent under or in connection with, this Agreement or any other Loan Document
or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document
or for any failure of any Loan Party to perform its obligations hereunder or thereunder.

 

(b) The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof (stating that
it is a “notice of default”) is given to the Administrative Agent by the Borrowers, a Lender or an Issuing Bank, and
the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty
or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document
delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other
terms or conditions set forth in any Loan Document or the occurrence of any Default, (iv) the sufficiency, validity, enforceability,
effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the satisfaction of any
condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items (which on their face
purport to be such items) expressly required to be delivered to the Administrative Agent or satisfaction of any condition that
expressly refers to the matters described therein being acceptable or satisfactory to the Administrative Agent, or (vi) the creation,
perfection or priority of Liens on the Collateral.

 

(c) Without
limiting the foregoing, the Administrative Agent (i) may treat the payee of any promissory note as its holder until such promissory
note has been assigned in accordance with Section 9.04, (ii) may rely on the Register to the extent set forth in Section 9.04(b),
(iii) may consult with legal counsel (including counsel to the Borrowers), independent public accountants and other experts selected
by it, and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of
such counsel, accountants or experts, (iv) makes no warranty or representation to any Lender or Issuing Bank and shall not be
responsible to any Lender or Issuing Bank for any statements, warranties or representations made by or on behalf of any Loan Party
in connection with this Agreement or any other Loan Document, (v) in determining compliance with any condition hereunder to the
making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or
an Issuing Bank, may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Administrative Agent
shall have received notice to the contrary from such Lender or Issuing Bank sufficiently in advance of the making of such Loan
or the issuance of such Letter of Credit and (vi) shall be entitled to rely on, and shall incur no liability under or in respect
of this Agreement or any other Loan Document by acting upon, any notice, consent, certificate or other instrument or writing (which
writing may be a fax, any electronic message, Internet or intranet website posting or other distribution) or any statement made
to it orally or by telephone and believed by it to be genuine and signed or sent or otherwise authenticated by the proper party
or parties (whether or not such Person in fact meets the requirements set forth in the Loan Documents for being the maker thereof).

 

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SECTION
8.03. Posting of Communications. 

 

(a) Each
Borrower agrees that the Administrative Agent may, but shall not be obligated to, make any Communications available to the Lenders
and the Issuing Banks by posting the Communications on IntraLinksTM, DebtDomain, SyndTrak, ClearPar or any other electronic
system chosen by the Administrative Agent to be its electronic transmission system (the “Approved Electronic Platform”).

 

(b) Although
the Approved Electronic Platform and its primary web portal are secured with generally-applicable security procedures and policies
implemented or modified by the Administrative Agent from time to time (including, as of the Effective Date, a user ID/password
authorization system) and the Approved Electronic Platform is secured through a per-deal authorization method whereby each user
may access the Approved Electronic Platform only on a deal-by-deal basis, each of the Lenders, each of the Issuing Banks and each
Borrower acknowledges and agrees that the distribution of material through an electronic medium is not necessarily secure, that
the Administrative Agent is not responsible for approving or vetting the representatives or contacts of any Lender that are added
to the Approved Electronic Platform, and that there may be confidentiality and other risks associated with such distribution.
Each of the Lenders, each of the Issuing Banks and each Borrower hereby approves distribution of the Communications through the
Approved Electronic Platform and understands and assumes the risks of such distribution.

 

(c) THE
APPROVED ELECTRONIC PLATFORM AND THE COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE”. THE APPLICABLE
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE APPROVED
ELECTRONIC PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE APPROVED ELECTRONIC PLATFORM AND THE 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 APPLICABLE PARTIES IN CONNECTION
WITH THE COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT, ANY ARRANGER, ANY DOCUMENTATION
AGENT, ANY SYNDICATION AGENT OR ANY OF THEIR RESPECTIVE RELATED PARTIES (COLLECTIVELY, “APPLICABLE PARTIES”)
HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER, ANY ISSUING BANK OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING
DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE)
ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET
OR THE APPROVED ELECTRONIC PLATFORM.

 

“Communications”
means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any
Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent,
any Lender or any Issuing Bank by means of electronic communications pursuant to this Section, including through an Approved Electronic
Platform.

 

(a) Each
Lender and each Issuing Bank agrees that notice to it (as provided in the next sentence) specifying that Communications have been
posted to the Approved Electronic Platform shall constitute effective delivery of the Communications to such Lender for purposes
of the Loan Documents. Each Lender and Issuing Bank agrees (i) to notify the Administrative Agent in writing (which could be in
the form of electronic communication) from time to time of such Lender’s or Issuing Bank’s (as applicable) email address
to which the foregoing notice may be sent by electronic transmission and (ii) that the foregoing notice may be sent to such email
address.

 

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(b) Each
of the Lenders, each of the Issuing Banks and each Borrower agrees that the Administrative Agent may, but (except as may be required
by applicable law) shall not be obligated to, store the Communications on the Approved Electronic Platform in accordance with
the Administrative Agent’s generally applicable document retention procedures and policies.

 

(c) Nothing
herein shall prejudice the right of the Administrative Agent, any Lender or any Issuing Bank to give any notice or other communication
pursuant to any Loan Document in any other manner specified in such Loan Document.

 

SECTION
8.04. The Administrative Agent Individually. With respect to its Commitment, Loans (including Swingline Loans) and Letters
of Credit, the Person serving as the Administrative Agent shall have and may exercise the same rights and powers hereunder and
is subject to the same obligations and liabilities as and to the extent set forth herein for any other Lender or Issuing Bank,
as the case may be. The terms “Issuing Banks”, “Lenders”, “Required Lenders” and any similar
terms shall, unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity as a
Lender, Issuing Bank or as one of the Required Lenders, as applicable. The Person serving as the Administrative Agent and its
Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity
for and generally engage in any kind of banking, trust or other business with, any Loan Party, any Subsidiary or any Affiliate
of any of the foregoing as if such Person was not acting as the Administrative Agent and without any duty to account therefor
to the Lenders or the Issuing Banks.

 

SECTION
8.05. Successor Administrative Agent. 

 

(a) The
Administrative Agent may resign at any time by giving 30 days’ prior written notice thereof to the Lenders, the Issuing
Banks and the Borrower Representative, whether or not a successor Administrative Agent has been appointed. Upon any such resignation,
the Required Lenders shall have the right to appoint a successor Administrative Agent. If no successor Administrative Agent shall
have been so appointed by the Required Lenders, and shall have accepted such appointment, within thirty (30) days after the retiring
Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Lenders
and the Issuing Banks, appoint a successor Administrative Agent, which shall be a bank with an office in New York, New York or
an Affiliate of any such bank. In either case, such appointment shall be subject to the prior written approval of the Borrower
Representative (which approval may not be unreasonably withheld and shall not be required while an Event of Default has occurred
and is continuing). Upon the acceptance of any appointment as Administrative Agent by a successor Administrative Agent, such successor
Administrative Agent shall succeed to, and become vested with, all the rights, powers, privileges and duties of the retiring Administrative
Agent. Upon the acceptance of appointment as Administrative Agent by a successor Administrative Agent, the retiring Administrative
Agent shall be discharged from its duties and obligations under this Agreement and the other Loan Documents. Prior to any retiring
Administrative Agent’s resignation hereunder as Administrative Agent, the retiring Administrative Agent shall take such
action as may be reasonably necessary to assign to the successor Administrative Agent its rights as Administrative Agent under
the Loan Documents.

 

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(b) Notwithstanding
paragraph (a) of this Section, in the event no successor Administrative Agent shall have been so appointed and shall have accepted
such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its intent to resign, the retiring
Administrative Agent may give notice of the effectiveness of its resignation to the Lenders, the Issuing Banks and the Borrower
Representative, whereupon, on the date of effectiveness of such resignation stated in such notice, (i) the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents; provided that, solely
for purposes of maintaining any security interest granted to the Administrative Agent under any Collateral Document for the benefit
of the Secured Parties, the retiring Administrative Agent shall continue to be vested with such security interest as collateral
agent for the benefit of the Secured Parties, and continue to be entitled to the rights set forth in such Collateral Document
and Loan Document, and, in the case of any Collateral in the possession of the Administrative Agent, shall continue to hold such
Collateral, in each case until such time as a successor Administrative Agent is appointed and accepts such appointment in accordance
with this Section (it being understood and agreed that the retiring Administrative Agent shall have no duty or obligation to take
any further action under any Security Document, including any action required to maintain the perfection of any such security
interest), and (ii) the Required Lenders shall succeed to and become vested with all the rights, powers, privileges and duties
of the retiring Administrative Agent; provided that (A) all payments required to be made hereunder or under any other Loan Document
to the Administrative Agent for the account of any Person other than the Administrative Agent shall be made directly to such Person
and (B) all notices and other communications required or contemplated to be given or made to the Administrative Agent shall directly
be given or made to each Lender and each Issuing Bank. Following the effectiveness of the Administrative Agent’s resignation
from its capacity as such, the provisions of this Article, Section 2.17(d) and Section 9.03, as well as any exculpatory, reimbursement
and indemnification provisions set forth in any other Loan Document, shall continue in effect for the benefit of such retiring
Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken
by any of them while the retiring Administrative Agent was acting as Administrative Agent and in respect of the matters referred
to in the proviso under clause (a) above.

 

SECTION
8.06. Acknowledgements of Lenders and Issuing Banks.

 

(a) Each
Lender represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of its business and
that it has, independently and without reliance upon the Administrative Agent, any Arranger, any Syndication Agent, any Co-Documentation
Agent, or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to make,
acquire or hold Loans hereunder. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent, any Arranger, any Syndication Agent, any Co-Documentation Agent, or any other Lender, or any of the Related Parties of
any of the foregoing, and based on such documents and information (which may contain material, non-public information within the
meaning of the United States securities laws concerning the Borrowers and their respective Affiliates) as it shall from time to
time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
other Loan Document or any related agreement or any document furnished hereunder or thereunder.

 

(b) Each
Lender, by delivering its signature page to this Agreement on the Effective Date, or delivering its signature page to an Assignment
and Assumption or any other Loan Document pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged
receipt of, and consented to and approved, each Loan Document and each other document required to be delivered to, or be approved
by or satisfactory to, the Administrative Agent or the Lenders on the Effective Date or the effective date of any such Assignment
and Assumption or any other Loan document pursuant to which it shall have become a Lender hereunder.

 

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(c) Each
Lender hereby agrees that (i) it has requested a copy of each Report prepared by or on behalf of the Administrative Agent; (ii)
the Administrative Agent (A) makes no representation or warranty, express or implied, as to the completeness or accuracy of any
Report or any of the information contained therein or any inaccuracy or omission contained in or relating to a Report and (B)
shall not be liable for any information contained in any Report; (iii) the Reports are not comprehensive audits or examinations,
and that any Person performing any field examination will inspect only specific information regarding the Loan Parties and will
rely significantly upon the Loan Parties’ books and records, as well as on representations of the Loan Parties’ personnel
and that the Administrative Agent undertakes no obligation to update, correct or supplement the Reports; (iv) it will keep all
Reports confidential and strictly for its internal use, not share the Report with any Loan Party or any other Person except as
otherwise permitted pursuant to this Agreement; and (v) without limiting the generality of any other indemnification provision
contained in this Agreement, (A) it will hold the Administrative Agent and any such other Person preparing a Report harmless from
any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report in connection
with any extension of credit that the indemnifying Lender has made or may make to the Borrowers, or the indemnifying Lender’s
participation in, or the indemnifying Lender’s purchase of, a Loan or Loans; and (B) it will pay and protect, and indemnify,
defend, and hold the Administrative Agent and any such other Person preparing a Report harmless from and against, the claims,
actions, proceedings, damages, costs, expenses, and other amounts (including reasonable attorneys’ fees) incurred by the
Administrative Agent or any such other Person as the direct or indirect result of any third parties who might obtain all or part
of any Report through the indemnifying Lender.

 

SECTION
8.07. Collateral Matters.

 

(a) Except
with respect to the exercise of setoff rights in accordance with Section 9.08 or with respect to a Secured Party’s right
to file a proof of claim in an insolvency proceeding, no Secured Party shall have any right individually to realize upon any of
the Collateral or to enforce any Guarantee of the Secured Obligations, it being understood and agreed that all powers, rights
and remedies under the Loan Documents may be exercised solely by the Administrative Agent on behalf of the Secured Parties in
accordance with the terms thereof. In its capacity, the Administrative Agent is a “representative” of the Secured
Parties within the meaning of the term “secured party” as defined in the UCC. In the event that any Collateral is
hereafter pledged by any Person as collateral security for the Secured Obligations, the Administrative Agent is hereby authorized,
and hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties any Loan Documents necessary or
appropriate to grant and perfect a Lien on such Collateral in favor of the Administrative Agent on behalf of the Secured Parties.

 

(b) In
furtherance of the foregoing and not in limitation thereof, no arrangements in respect of Banking Services the obligations under
which constitute Secured Obligations and no Swap Agreement the obligations under which constitute Secured Obligations, will create
(or be deemed to create) in favor of any Secured Party that is a party thereto any rights in connection with the management or
release of any Collateral or of the obligations of any Loan Party under any Loan Document. By accepting the benefits of the Collateral,
each Secured Party that is a party to any such arrangement in respect of Banking Services or Swap Agreement, as applicable, shall
be deemed to have appointed the Administrative Agent to serve as administrative agent and collateral agent under the Loan Documents
and agreed to be bound by the Loan Documents as a Secured Party thereunder, subject to the limitations set forth in this paragraph.

 

(c) The
Secured Parties irrevocably authorize the Administrative Agent, at its option and in its discretion, to subordinate or release
any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such
property that is permitted by Section 6.02(d). The Administrative Agent shall not be responsible for or have a duty to ascertain
or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence,
priority or perfection of the Administrative Agent’s Lien thereon or any certificate prepared by any Loan Party in connection
therewith, nor shall the Administrative Agent be responsible or liable to the Lenders or any other Secured Party for any failure
to monitor or maintain any portion of the Collateral.

 

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SECTION
8.08. Credit Bidding. The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the
Required Lenders, to credit bid all or any portion of the Obligations (including by accepting some or all of the Collateral in
satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase
(either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted
under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar
laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of collateral
in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action
or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations owed
to the Secured Parties shall be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the Required
Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests
in the acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount proportional to the
liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased
(or for the equity interests or debt instruments of the acquisition vehicle or vehicles that are issued in connection with such
purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles
and to assign any successful credit bid to such acquisition vehicle or vehicles (ii) each of the Secured Parties’ ratable
interests in the Obligations which were credit bid shall be deemed without any further action under this Agreement to be assigned
to such vehicle or vehicles for the purpose of closing such sale, (iii) the Administrative Agent shall be authorized to adopt
documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative
Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests thereof,
shall be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the Required
Lenders or their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition
vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement and without giving effect to the limitations
on actions by the Required Lenders contained in Section 9.02 of this Agreement), (iv) the Administrative Agent on behalf of such
acquisition vehicle or vehicles shall be authorized to issue to each of the Secured Parties, ratably on account of the relevant
Obligations which were credit bid, interests, whether as equity, partnership interests, limited partnership interests or membership
interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the need for
any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that Obligations that are assigned
to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better,
because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by the acquisition
vehicle or otherwise), such Obligations shall automatically be reassigned to the Secured Parties pro rata with their original
interest in such Obligations and the equity interests and/or debt instruments issued by any acquisition vehicle on account of
such Obligations shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any
further action. Notwithstanding that the ratable portion of the Obligations of each Secured Party are deemed assigned to the acquisition
vehicle or vehicles as set forth in clause (ii) above, each Secured Party shall execute such documents and provide such information
regarding the Secured Party (and/or any designee of the Secured Party which will receive interests in or debt instruments issued
by such acquisition vehicle) as the Administrative Agent may reasonably request in connection with the formation of any acquisition
vehicle, the formulation or submission of any credit bid or the consummation of the transactions contemplated by such credit bid.

 

SECTION
8.09. 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 Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any 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 the Plan Asset Regulations) of one or more Benefit Plans
in connection with the Loans, the Letters of Credit or the Commitments,

 

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(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.

 

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 Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for
the benefit of any Borrower or any other Loan Party, that none of the Administrative Agent, or any Arranger, any Syndication Agent,
any Documentation Agent or any of their respective Affiliates is a fiduciary with respect to the Collateral or 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).

 

(b) The
Administrative Agent, and each Arranger, Syndication Agent and Co-Documentation Agent hereby informs the Lenders that each such
Person is not undertaking to provide 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,
this Agreement and any other Loan Documents, (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.

 

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SECTION
8.10. Flood Laws. JPMCB has adopted internal policies and procedures that address requirements placed on federally regulated
lenders under the National Flood Insurance Reform Act of 1994 and related legislation (the “Flood Laws”). JPMCB,
as administrative agent or collateral agent on a syndicated facility, will post on the applicable electronic platform (or otherwise
distribute to each Lender in the syndicate) documents that it receives in connection with the Flood Laws. However, JPMCB reminds
each Lender and Participant in the facility that, pursuant to the Flood Laws, each federally regulated Lender (whether acting
as a Lender or Participant in the facility) is responsible for assuring its own compliance with the flood insurance requirements.

 

ARTICLE
IX Miscellaneous

 

SECTION
9.01. Notices. 

 

(a) Except
in the case of notices and other communications expressly permitted to be given by telephone or Electronic Systems (and subject
in each case to paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall
be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile, as follows:

 

(i) if
to the Borrowers, to it at 13211 Merriman Rd, Livonia, Michigan 48150-1826, Attention: President (Facsimile No. 248-449-6701).

 

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

 

JPMorgan
Chase Bank, N.A.

10
South Dearborn, Floor L2

Suite
IL1-0480

Chicago,
IL, 60603-2300

Attention:
Omolola Eneh

Phone
No: 1-312-954-1007

Email:
omolola.eneh@chase.com

 

With
copy(s) to:

 

JPMorgan
Chase Bank, N.A.

Middle
Market Servicing

10
South Dearborn, Floor L2

Suite
IL1-0480

Chicago,
IL, 60603-2300

Attention:
Commercial Banking Group

Fax
No: (844) 490-5663

Email:
jpm.agency.cri@jpmorgan.com

jpm.agency.servicing.1@jpmorgan.com

 

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

 

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All
such notices and other communications (A) sent by hand or overnight courier service, or mailed by certified or registered mail
shall be deemed to have been given when received, (B) sent by facsimile shall be deemed to have been given when sent, provided
that if not given during normal business hours for the recipient, such notice or communication shall be deemed to have been
given at the opening of business on the next Business Day of the recipient, or (C) delivered through Electronic Systems or Approved
Electronic Platforms, as applicable, to the extent provided in paragraph (b) below shall be effective as provided in such paragraph.

 

(b) Notices
and other communications to the Lenders hereunder may be delivered or furnished by using Electronic Systems or Approved Electronic
Platforms, as applicable, or pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not
apply to notices pursuant to Article II or to compliance certificates delivered pursuant to Section 5.01unless otherwise agreed
by the Administrative Agent and the applicable Lender. Each of the Administrative Agent and the Borrower Representative (on behalf
of the Loan Parties) may, in its discretion, agree to accept notices and other communications to it hereunder by using Electronic
Systems or Approved Electronic Platforms, as applicable, pursuant to procedures approved by it; provided that approval of such
procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise proscribes, all such
notices and other communications (i) 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 not given during the normal business hours of the recipient, shall
be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) posted to an Internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described
in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address
therefor; provided that, for both clauses (i) and (ii) above, if such notice, e-mail 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 of the recipient.

 

(c) Any
party hereto may change its address, facsimile number or e-mail address for notices and other communications hereunder by notice
to the other parties hereto.

 

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

 

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(b) Subject
to Section 2.13(c), and Section 9.02(c) below, neither this Agreement nor any other Loan Document nor any provision hereof or
thereof may be waived, amended or modified except (i) in the case of this Agreement, pursuant to an agreement or agreements
in writing entered into by the Borrowers and the Required Lenders (or by the Administrative Agent on behalf of the Required Lenders
with the consent of the Required Lenders) or, (ii) in the case of any other Loan Document, pursuant to an agreement or agreements
in writing entered into by the Administrative Agent (with the consent of the Required Lenders) and the Loan Party or Loan Parties
that are parties thereto; provided that no such agreement shall (i) increase the Commitment of any Lender without
the written consent of such Lender, (ii) reduce or forgive the principal amount of any Loan or LC Disbursement or reduce
the rate of interest thereon, or reduce or forgive any interest or fees or other amounts payable hereunder, without the written
consent of each Lender directly affected thereby (other than as specified in Section 2.12(d)), (iii) postpone any scheduled date
of payment of the principal amount of any Loan or LC Disbursement (other than any reduction of the amount of, or any extension
of the payment date for, the mandatory prepayments required under Section 2.10, in each case which shall only require the approval
of the Required Lenders) or any date for the payment of any interest, fees or other Obligations payable hereunder, or otherwise
reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without
the written consent of each Lender directly affected thereby, (iv) change Section 2.17(b) or (c) in a manner that
would alter the manner in which payments are shared, without the written consent of each Lender other than as permitted hereunder
(provided that it being understood and agreed that (x) any increase in the total Commitments and related modifications approved
by each Lender increasing any of its Commitments and by the Required Lenders shall not be deemed to alter the manner in which
payments are shared or alter any other pro rata sharing of payments and (y) any “amend-and-extend” transaction that
extends any applicable maturity or termination date only for those Lenders that agree to such an extension (which extension may
include increased pricing and fees for such extending Lenders, and which extension shall not apply to those Lenders that do not
approve such extension) shall not be deemed to alter the manner in which payments are shared or alter any other pro rata sharing
of payments), (v) change any of the provisions of this Section or the definition of “Required Lenders”, or any
other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any rights
thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender, (vi) release
all or substantially all of the Guarantors from their obligation under the Loan Party Guaranty (except as otherwise permitted
herein or in the other Loan Documents), without the written consent of each Lender, or (vii) except as provided in clause
(c) of this Section or in any Collateral Document, release all or substantially all of the Collateral, or subordinate the
Lien of the Administrative Agent on any assets to be included in the Revolving Borrowing Base or on all or substantially all of
the Collateral, in each case without the written consent of each Lender (other than a Defaulting Lender); provided further
that (x) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing
Bank or the Swingline Lender hereunder without the prior written consent of the Administrative Agent, the Issuing Bank or the
Swingline Lender, as the case may be, and (y) the foregoing shall not prevent any amendment contemplated by the terms of Section
2.21 and the Borrowers and the Administrative Agent may agree to any required changes to this Agreement not inconsistent with
the terms of Section 2.21. The Administrative Agent may also amend the Commitment Schedule to reflect assignments and other
transactions entered into pursuant to Section 9.04, Section 2.08 or Section 2.21. Notwithstanding the above, the Administrative
Agent may (and each of the Lenders and each Secured Party by accepting the benefits of the Collateral hereby authorizes the Administrative
Agent to) enter into the Second Lien Intercreditor Agreement and the Collateral Documents (including any additional Collateral
Documents at any time) and any intercreditors with floor plan lenders and any amendments or other modifications thereof as determined
by Administrative Agent, in each case that are not contrary to the terms of this Agreement.

 

(c) The
Lenders hereby irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Borrowers
that it shall (so long as no Event of Default has occurred and is continuing), release any Liens granted to the Administrative
Agent by the Loan Parties on any Collateral (i) upon the Payment in Full (other than payment and satisfaction of Unliquidated
Obligations), (ii) constituting property being sold or disposed of if the Borrowers certify to the Administrative Agent that the
sale or disposition is made in compliance with the terms of this Agreement (and the Administrative Agent may rely conclusively
on any such certificate, without further inquiry), (iii) constituting property leased to any Loan Party under a lease which has
expired or been terminated in a transaction permitted under this Agreement, or (iv) as required to effect any sale or other disposition
of such Collateral in connection with any exercise of remedies of the Administrative Agent and the Lenders pursuant to Article
VII. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly
being released) upon (or obligations of the Loan Parties in respect of) all interests retained by the Loan Parties, including
the proceeds of any sale, all of which shall continue to constitute part of the Collateral and the Administrative Agent shall
not be required to execute any such release on terms which, in the Administrative Agent’s reasonable opinion, would expose
the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens
without recourse or warranty.

 

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(d) Notwithstanding
Section 9.02(b), (i) this Agreement and any other Loan Document may be amended with the written consent of the Required Lenders,
Lenders providing one or more additional credit facilities, the Administrative Agent and the Borrowers (x) to add one or more
additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder
and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents
with the Loans and other extensions of credit hereunder and the accrued interest and fees in respect thereof, (y) to reasonably
and appropriately include the Lenders holding such credit facilities in any determination of the Required Lenders and (z) to make
such other technical amendments as are reasonably deemed appropriate by the Administrative Agent and the Borrowers in connection
with the foregoing, (ii) any waiver, amendment or modification of this Agreement that by its terms affects the rights or duties
under this Agreement of one Class of Lenders (but not of any other Class of Lenders) may be effected by an agreement or agreements
in writing entered into by the Administrative Agent, the Borrowers and the requisite percentage in interest of the affected Class
of Lenders that would be required to consent thereto under this Section if such Class of Lenders were the only Class of Lenders
hereunder at the time and (iii) any waiver, amendment or modification of any commitment letter or fee letter may be effected by
an agreement or agreements in writing entered into only by the parties thereto.

 

(e) If,
in connection with any proposed amendment, waiver or consent requiring the consent of “each Lender” or “each
Lender affected thereby,” the consent of the Required Lenders is obtained, but the consent of other necessary Lenders is
not obtained (any such Lender whose consent is necessary but has not been obtained being referred to herein as a “Non-Consenting
Lender”), then the Borrowers may elect to replace a Non-Consenting Lender as a Lender party to this Agreement, provided
that, concurrently with such replacement, (i) another bank or other entity which will provide such consent and which is reasonably
satisfactory to the Borrowers, the Administrative Agent and the Issuing Bank shall agree, as of such date, to purchase for cash
the Loans and other Obligations due to the Non-Consenting Lender pursuant to an Assignment and Assumption and to become a Lender
for all purposes under this Agreement and to assume all obligations of the Non-Consenting Lender to be terminated as of such date
and to comply with the requirements of clause (b) of Section 9.04, and (ii) the Borrowers shall pay to such Non-Consenting Lender
in same day funds on the day of such replacement (1) all interest, fees and other amounts then accrued but unpaid to such Non-Consenting
Lender by the Borrowers hereunder to and including the date of termination, including without limitation payments due to such
Non-Consenting Lender under Sections 2.14 and 2.16, and (2) an amount, if any, equal to the payment which would have been due
to such Lender on the day of such replacement under Section 2.15 had the Loans of such Non-Consenting Lender been prepaid on such
date rather than sold to the replacement Lender. Each party hereto agrees that an assignment required pursuant to this paragraph
may be effected pursuant to an Assignment and Assumption executed by the Borrowers, the Administrative Agent and the assignee
(or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an Approved Electronic
Platform as to which the Administrative Agent and such parties are participants), and (b) the Lender required to make such assignment
need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented to an be bound
by the terms thereof; provided that, following the effectiveness of any such assignment, the other parties to such assignment
agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender,
provided that any such documents shall be without recourse to or warranty by the parties thereto.

 

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(f) Notwithstanding
anything to the contrary in this Section, if the Administrative Agent and the Borrowers shall have jointly identified an obvious
error or any error or omission of a technical or immaterial nature, in each case, in any provision of the Loan Documents, then
the Administrative Agent and the Borrowers shall be permitted to amend such provision and such amendment shall become effective
without any further action or consent of any other party to any Loan Document if the same is not objected to in writing by the
Required Lenders within five (5) Business Days following receipt of notice thereof.

 

SECTION
9.03. Expenses; Indemnity; Damage Waiver.
(a) The Borrowers shall jointly and severally pay (i) all reasonable out of pocket expenses incurred by each of the
Administrative Agent and its Affiliates, including the reasonable fees, and documented disbursements of counsel for the Administrative
Agent, in connection with the syndication and distribution (including, without limitation, via the internet or through a service
such as Intralinks or Approved Electronica Platform) of the credit facilities provided for herein, the preparation and administration
of the Loan Documents or any amendments, modifications or waivers of the provisions of the Loan Documents (whether or not the
transactions contemplated hereby or thereby shall be consummated, and including without limitation costs and expenses incurred
in connection with appraisals (provided that the Borrowers shall be liable for the cost of such appraisals only if such appraisals
are required by applicable law or regulation or required by the Administrative Agent after the occurrence and during the continuance
of an Event of Default or otherwise required hereunder or any other Loan Document), insurance reviews, field examinations (internal
and external fees and charges, provided that, if no Event of Default has occurred and is continuing, the Borrowers shall not be
liable for the costs and expenses of more than four floor plan field examinations in any Fiscal Year or more than one such collateral
field examination in any Fiscal Year), appraisals (provided that, if no Event of Default has occurred and is continuing, the Borrowers
shall not be liable for the cost of more than two equipment and inventory appraisals in any Fiscal Year or more than such real
property appraisals determined to be legally necessary by the Administrative Agent), filing financing statements and continuations,
and other actions to perfect, protect, and continue the Administrative Agent’s Liens; sums paid or incurred to take any
action required of any Loan Party under the Loan Documents that such Loan Party fails to pay or take; and costs and expenses of
preserving and protecting the Collateral), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection
with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all
reasonable out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender, including the fees, and
documented disbursements of any counsel for the Administrative Agent, the Issuing Bank or any Lender, in connection with the enforcement,
collection or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection
with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit.

 

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(b) The
Borrowers, jointly and severally, shall indemnify the Administrative Agent, the Issuing Bank and each Lender, and each Related
Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each
Indemnitee harmless from, any and all losses, claims, damages, penalties, incremental taxes, liabilities and related expenses,
including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in connection with, or as a result of (i) the execution or delivery of the Loan Documents or any agreement or
instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation
of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds
therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented
in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence
or release of Hazardous Materials on or from any property owned or operated by a Loan Party or a Subsidiary, or any Environmental
Liability related in any way to a Loan Party or a Subsidiary, (iv) the failure of a Loan Party to deliver to the Administrative
Agent the required receipts or other required documentary evidence with respect to a payment made by such Loan Party for Taxes
pursuant to Section 2.16, or (v) any actual or prospective claim, litigation, investigation, arbitration or proceeding relating
to any of the foregoing, whether or not such claim, litigation, investigation, arbitration or proceeding is brought by any Loan
Party or their respective equity holders, Affiliates, creditors or any other third Person and whether based on contract, tort
or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to
any Indemnitee, be available to the extent that such losses, claims, damages, penalties, liabilities or related expenses are determined
by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent
losses or damages arising from any non-Tax claim.

 

(c) Each
Lender severally agrees to pay any amount required to be paid by any Loan Party under paragraph (a) or (b) of this Section 9.03
to the Administrative Agent the, Swingline Lender and each Issuing Bank, and each Related Party of any of the foregoing Persons
(each, an “Agent Indemnitee”) (to the extent not reimbursed by the Loan Parties and without limiting the obligation
of any Loan Party to do so), ratably according to their respective Applicable Percentage in effect on the date on which indemnification
is sought under this Section (or, if indemnification is sought after the date upon which the Commitments shall have terminated
and the Loans shall have been paid in full, ratably in accordance with such Applicable Percentage immediately prior to such date),
from and against any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements
of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted
against such Agent Indemnitee in any way relating to or arising out of the Commitments, this Agreement, any of the other Loan
Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby
or any action taken or omitted by such Agent Indemnitee under or in connection with any of the foregoing; 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 such Agent Indemnitee in its capacity as such; provided further that no Lender shall be liable for
the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements that are found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from
such Agent Indemnitee’s gross negligence or willful misconduct. The agreements in this Section shall survive the termination
of this Agreement and the Payment in Full of the Secured Obligations.

 

(d) To
the extent permitted by applicable law, no Loan Party shall assert, and each Loan Party hereby waives, any claim against any Indemnitee,
(i) for any damages arising from the use by others of information or other materials obtained through telecommunications, electronic
or other information transmission systems (including the Internet), or (ii) 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 Loan Document, or any agreement or instrument contemplated hereby or thereby, the Transactions,
any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this paragraph (d) shall relieve any
Loan Party of any obligation it may have to indemnify an Indemnitee against special, indirect, consequential or punitive damages
asserted against such Indemnitee by a third party.

 

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

 

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SECTION
9.04. Successors and Assigns. (a) The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) no
Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each
Lender (and any attempted assignment or transfer by any Borrower without such consent shall be null and void) and (ii) no
Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective
successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants
(to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties
of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or
by reason of this Agreement.

 

(b)
(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees (other
than an Ineligible Institution) all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be
unreasonably withheld or delayed) of:

 

(A)
 the Borrowers; provided that, the Borrowers shall be deemed to have consented to an
assignment unless it shall have objected thereto by written notice to the Administrative Agent within five (5) Business Days after
having received notice thereof; provided further that no consent of the Borrowers shall be required for an assignment to a Lender,
an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; and

 

(B)
 the Administrative Agent, the Issuing Bank and the Swingline Lender.

 

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

 

(A)
 except in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved
Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount
of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000, unless
each of the Borrowers and the Administrative Agent otherwise consent; provided that no such consent of the Borrowers shall
be required if an Event of Default has occurred and is continuing;

 

(B)
 each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement unless otherwise agreed to by the Administrative Agent;

(C)
the parties to each assignment shall execute and deliver to the Administrative Agent (x) an Assignment and Assumption or (y) to
the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to a Platform as to which
the Administrative Agent and the parties to the Assignment and Assumption are participants, together with a processing and recordation
fee of $3,500;

 

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(D)
 the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information
(which may contain material non-public information about the Loan Parties and their affiliates, the Loan Parties and their related
parties or their respective securities) will be made available and who may receive such information in accordance with the assignee’s
compliance procedures and applicable laws, including Federal and state securities laws; and

 

(E)
 the assignee may not be a Loan Party or any Affiliate of a Loan Party.

 

For
the purposes of this Section 9.04(b), the terms “Approved Fund” and “Ineligible Institution” have the
following meanings:

 

“Approved
Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in
bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a)
a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

 

“Ineligible
Institution” means a (a) natural person, (b) a Defaulting Lender, (c) company, investment vehicle or trust for, or owned
and operated for the primary benefit of, a natural person or relative(s) thereof; provided that, with respect to clause
(c), such company, investment vehicle or trust shall not constitute an Ineligible Institution if it (i) has not been established
for the primary purpose of acquiring any Loans or Commitments, (ii) is managed by a professional advisor, who is not such natural
person or a relative thereof, having significant experience in the business of making or purchasing commercial loans, and (iii)
has assets greater than $25,000,000 and a significant part of its activities consist of making or purchasing commercial loans
and similar extensions of credit in the ordinary course of its business or (d) a Loan Party or a Subsidiary or other Affiliate
of a Loan Party.

 

(iii)
Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date
specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and
the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released
from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue
to be entitled to the benefits of Sections 2.14, 2.15, 2.16 and 9.03). Any assignment or transfer by a Lender of rights
or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of
this Section.

 

(iv)
The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrowers, shall maintain at one of its
offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and the Borrowers, the Administrative Agent, the Issuing Bank and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers, the Issuing Bank and
any Lender, at any reasonable time and from time to time upon reasonable prior notice.

 

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(v)
Upon its receipt of (x) a duly completed Assignment and Assumption executed by an assigning Lender and an assignee or (y) to
the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an Approved
Electronic Platform as to which the Administrative Agent and the parties to the Assignment and Assumption are participants,
the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment
required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and
record the information contained therein in the Register; provided that if either the assigning Lender or the assignee
shall have failed to make any payment required to be made by it pursuant to Section 2.04(c), 2.05(d) or (e), 2.06(b), 2.17(c)
or 9.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the
information therein in the Register unless and until such payment shall have been made in full, together with all accrued
interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register
as provided in this paragraph.

 

(c)
(i) Any Lender may, without the consent of, or notice to, the Borrowers, the Administrative Agent, the Issuing Bank or
the Swingline Lender, sell participations to one or more banks or other entities, other than an Ineligible Institution (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s
obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Bank
and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may
provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver
described in the first proviso to Section 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this
Section, the Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.14, 2.15 and 2.16 to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this
Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as
though it were a Lender; provided such Participant agrees to be subject to Section 2.17(c) as though it were a Lender.
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers,
maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated
interest) of each Participant's interest in the Loans or other obligations under this Agreement (the "Participant
Register"); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register to any Person (including the identity of any Participant or any information relating to a Participant's
interest in any Commitments, Loans, Letters of Credit or its other obligations under any Loan Document) except to the extent
that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant
Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.
For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility
for maintaining a Participant Register.

 

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(ii)
A Participant shall not be entitled to receive any greater payment under Section 2.14 or 2.16 than the applicable Lender
would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made with the Borrowers’ prior written consent. A Participant shall not be
entitled to the benefits of Section 2.16 unless the Borrowers are notified of the participation sold to such Participant
and such Participant agrees to comply with Section 2.16 as though it were a Lender.

 

(d)
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal
Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that
no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

 

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

 

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

 

(b)
 Delivery of an executed counterpart of a signature page of this Agreement by telecopy,
emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as
delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement
and the transactions contemplated hereby or thereby shall be deemed to include Electronic Signatures, deliveries 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, physical delivery thereof 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 nothing herein shall require the Administrative Agent to accept Electronic Signatures in any form or format without
its prior written consent.

 

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

 

SECTION
9.08. Right of Setoff. If an Event of
Default shall have occurred and be continuing, each Lender, the Issuing Bank and each of their respective Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held, and other obligations at any time owing, by such
Lender, the Issuing Bank or any such Affiliate, to or for the credit or the account of any Loan Party against any and all of the
Secured Obligations held by such Lender, the Issuing Bank or their respective Affiliates, irrespective of whether or not such
Lender, the Issuing Bank or their respective Affiliates shall have made any demand under the Loan Documents and although such
obligations may be contingent or unmatured or are owed to a branch office or Affiliate of such Lender or the Issuing Bank different
from the branch office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event that any
Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative
Agent for further application in accordance with the provisions of Section 2.20 and, pending such payment, shall be segregated
by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing
Bank, and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing
in reasonable detail the Secured Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The
applicable Lender, the Issuing Bank or such Affiliate shall notify the Borrower Representative and the Administrative Agent of
such setoff or application, provided that any failure to give or any delay in giving such notice shall not affect the validity
of any such setoff or application under this Section. The rights of each Lender, the Issuing Bank and their respective Affiliates
under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the Issuing
Bank or their respective Affiliates may have. 

 

SECTION
9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a)
The Loan Documents (other than those containing a contrary express choice of law provision) shall be governed by and
construed in accordance with the internal laws of the State of New York, but giving effect to federal laws applicable to
national banks.

 

(b)
Each of the Lenders and the Administrative Agent hereby irrevocably and unconditionally agrees that, notwithstanding the governing
law provisions of any applicable Loan Document, any claims brought against the Administrative Agent by any Secured Party relating
to this Agreement, any other Loan Document, the Collateral or the consummation or administration of the transactions contemplated
hereby or thereby shall be construed in accordance with and governed by the law of the State of New York.

 

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(c)
Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of any U.S. federal or New York state court sitting in New York, New York, and any appellate court from any thereof, in any action
or proceeding arising out of or relating to any Loan Documents, the transactions relating hereto or thereto, or for recognition
or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in
respect of any such action or proceeding may (and any such claims, cross-claims or third party claims brought against the Administrative
Agent or any of its Related Parties may only) be heard and determined in such state court or, to the extent permitted by law,
in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement
or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may otherwise
have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan Party or its properties
in the courts of any jurisdiction.

 

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

 

(e)
Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing
in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

 

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

 

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

 

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SECTION
9.12. Confidentiality. Each of the Administrative
Agent, the Issuing Bank and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its and its Affiliates’ directors, trustees, officers, employees and agents, including
accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested
by any regulatory authority, (c) to the extent required by Requirement of Law or by any subpoena or similar legal process,
(d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit,
action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee
of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement
or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Loan
Party and its obligations, (g) with the prior consent of the Borrowers or (h) to the extent such Information becomes
(i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative
Agent, the Issuing Bank or any Lender on a nonconfidential basis from a source other than the Borrowers. For the purposes of this
Section, “Information” means all information received from any Borrower or any Person on any Borrower’s
behalf with respect to any Loan Party or any of its or their business, other than any such information that is available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by any Borrower or such Person
and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league
table providers, that serve the lending industry; provided that, in the case of information received from the Borrowers
or such Person after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person
required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with
its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information; provided, further, that information pertaining
to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the
lending industry shall be excluded from this definition of “Information”.

 

SECTION
9.13. Several Obligations; Nonreliance; Violation of Law.
The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to make any Loan or
perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. Each Lender
hereby represents that it is not relying on or looking to any margin stock for the repayment of the Borrowings provided for herein.
Anything contained in this Agreement to the contrary notwithstanding, neither the Issuing Bank nor any Lender shall be obligated
to extend credit to the Borrowers in violation of any Requirement of Law.

 

SECTION
9.14. USA PATRIOT Act. Each Lender that
is subject to the requirements of the USA PATRIOT Act hereby notifies each Loan Party that pursuant to the requirements of the
USA PATRIOT Act, it is required to obtain, verify and record information that identifies such Loan Party, which information includes
the name and address of such Loan Party and other information that will allow such Lender to identify such Loan Party in accordance
with the USA PATRIOT Act.

 

SECTION
9.15. Interest Rate Limitation.
Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees,
charges and other amounts which are treated as interest on such Loan under applicable law (collectively the "Charges"),
shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received
or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such
Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the
operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or
periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon
at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

 

SECTION
9.16. Disclosure. Each Borrower and Lender
hereby acknowledges and agrees that the Administrative Agent and/or its Affiliates from time to time may hold investments in,
make other loans to or have other relationships with any of the Loan Parties and their respective Affiliates. 

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SECTION
9.17. Dealer Access System. The Borrower
Representative has requested access to the Administrative Agent’s internet web based “Dealer Access System”
to permit borrower to access certain account information relating to the Loan and to facilitate the making of any payments on
the Loan by authorizing the Administrative Agent to debit any one or more of the Borrower Representative’s deposit accounts
with the Administrative Agent or with such other financial institutions as indicated by the Borrower Representative. In consideration
for the Administrative Agent’s granting to access to the Administrative Agent’s Dealer Access System to view loan
account information and make Loan payments, the Borrower Representative acknowledges its responsibility for the security of its
passwords and other information necessary for access to the Administrative Agent’s Dealer Access System and fully, finally,
and forever releases and discharges the Administrative Agent and its successors, assigns, directors, officers, employees, agents,
and representatives from any and all causes of action, claims, debts, demands, and liabilities, of whatever kind or nature, in
law or equity, the Borrower Representative may now or hereafter have, in any way relating to the Borrower Representative’s
access to, or use of, or the Administrative Agent’s suspension or termination of certain systems features of the Administrative
Agent’s Dealer Access System.

 

SECTION
9.18. Appointment for Perfection. Each
Lender hereby appoints each other Lender as its agent for the purpose of perfecting Liens, for the benefit of the Administrative
Agent and the Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be
perfected only by possession. Should any Lender (other than the Administrative Agent) obtain possession of any such Collateral,
such Lender shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s request therefor
shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative
Agent’s instructions. 

 

SECTION
9.19. Amendment and Restatement.

 

(a) On
the Effective Date the Existing Credit Agreement shall be amended, restated and superseded in its entirety by this Agreement and
the Floor Plan Credit Agreement collectively (the “ALTA Credit Agreements”).  The parties hereto acknowledge
and agree that (i) this Agreement, any promissory notes delivered pursuant hereto and the other Loan Documents executed and delivered
in connection herewith do not constitute a novation or termination of the “Obligations” (as defined in the Existing
Credit Agreement) (the “Existing Obligations”) under the Existing Credit Agreement or any of the “Loan
Documents” (as defined in the Existing Credit Agreement) as in effect prior to the Effective Date and (x) the Obligations
hereunder pertaining to any Floor Plan Loans or the floor plan facility in general and (y) the Floor Plan Obligations under
the Floor Plan Credit Agreement pertaining to any Revolving Loans (as such term is defined in the Floor Plan Credit Agreement)
or the revolving loan facility in general are collectively issued in exchange and replacement for such Existing Obligations and
(ii) such Existing Obligations are in all respects continuing and (x) to the extent relating to any Floor Plan Loans or the
floor plan facility in general and (y) to the extent relating to any Revolving Loans or the revolving facility in general shall
collectively constitute Obligations or Floor Plan Obligations, as applicable, under the ALTA Credit Agreements with only the terms
thereof being modified as provided in the applicable ALTA Credit Agreement.  Notwithstanding anything herein to the contrary,
in no event shall the Liens securing the Existing Agreement or the obligations thereunder be deemed affected hereby or by the
Floor Plan Credit Agreement, as applicable, it being the intent and agreement of the Loan Parties and the Floor Plan Loan Parties
that, except as otherwise provided in the Loan Documents and the Floor Plan Loan Documents, as applicable, the Liens on the collateral
granted to secure the obligations of the existing loan parties in connection with the Existing Agreement and the other “Loan
Documents” (as defined in the Existing Agreement), shall not be extinguished and shall remain valid, binding and enforceable
securing the obligations under the Existing Agreement as amended and restated hereby and as amended and restated by the Floor
Plan Credit Agreement collectively, and each other Loan Document, Floor Plan Loan Document and agreement evidencing all of any
part of any Secured Obligations or any Floor Plan Obligations, as applicable.

    123

     

    

 

(b) Notwithstanding
the modifications effected by the ALTA Credit Agreements of the representations, warranties and covenants of the Borrowers contained
in the Existing Credit Agreement, the Borrowers acknowledge and agree that any causes of action or other rights created in favor
of the Administrative Agent or any Lender or its successors arising out of the representations and warranties of the Borrowers
contained in or delivered in connection with the Existing Credit Agreement shall survive the execution, delivery and effectiveness
of this Agreement and/or the Floor Plan Credit Agreement.

 

(c) All
indemnification obligations of the Borrowers arising under the Existing Credit Agreement (including any arising from a breach
of the representations thereunder) shall survive this amendment and restatement of the Existing Credit Agreement.

 

(d) By
its execution hereof, each Lender hereby (i) consents to the amendments and amendments and restatements to be executed in connection
herewith with respect to any of the Collateral Documents delivered in connection with the Existing Credit Agreement and any additional
Collateral Documents to be executed in connection herewith, all as in form and substance approved by the Administrative Agent,
and (ii) authorizes and directs the Administrative Agent to enter into such amendments and amendments and restatements. 

 

(e) For
purposes of determining withholding Taxes imposed under FATCA, from and after the Effective Date, the Borrowers and the Administrative
Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) this Agreement as not qualifying as a “grandfathered
obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

 

(f) All
parties hereto acknowledge and agree if the Effective Date does not occur at or prior to 2:00 p.m., New York time, on February
14, 2020, the Existing Credit Agreement shall continue in full force and effect without modification hereunder.

 

SECTION
9.20. Marketing Consent. The Borrowers
hereby authorize JPMCB and its affiliates (collectively, the “JPMCB Parties”), at their respective sole expense,
but without any prior approval by any Borrower, to include the Borrowers’ name and logo in advertising slicks posted on
its internet site, in pitchbooks or sent in mailings to prospective customers and to give such other publicity to this Agreement
as each may from time to time determine in its sole discretion. Notwithstanding the foregoing, the JPMCB Parties shall not publish
the Borrowers’ name in a newspaper or magazine without obtaining the Borrowers’ prior written approval. The foregoing
authorization shall remain in effect unless the Borrower Representative notifies JPMCB in writing that such authorization is revoked.

 

SECTION
9.21. Acknowledgement and Consent to Bail-In of EEA Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any
such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document
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 party hereto that is an EEA Financial Institution; and

 

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

 

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

 

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

 

    124

     

    

 

(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.

 

SECTION
9.22. No Fiduciary Duty, etc. Each Borrower
acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that no Credit Party will have any obligations
except those obligations expressly set forth herein and in the other Loan Documents and each Credit Party is acting solely in
the capacity of an arm’s length contractual counterparty to the Borrowers with respect to the Loan Documents and the transaction
contemplated herein and therein and not as a financial advisor or a fiduciary to, or an agent of, any Borrower or any other person.
Each Borrower agrees that it will not assert any claim against any Credit Party based on an alleged breach of fiduciary duty by
such Credit Party in connection with this Agreement and the transactions contemplated hereby. Additionally, each Borrower acknowledges
and agrees that no Credit Party is advising any Borrower as to any legal, tax, investment, accounting, regulatory or any other
matters in any jurisdiction. The Borrowers shall consult with their own advisors concerning such matters and shall be responsible
for making its own independent investigation and appraisal of the transactions contemplated hereby, and the Credit Parties shall
have no responsibility or liability to any Borrower with respect thereto.

 

Each
Borrower further acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that each Credit Party, together
with its affiliates, is a full service securities or banking firm engaged in securities trading and brokerage activities as well
as providing investment banking and other financial services. In the ordinary course of business, any Credit Party may provide
investment banking and other financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers,
equity, debt and other securities and financial instruments (including bank loans and other obligations) of, the Borrowers and
other companies with which the Borrowers may have commercial or other relationships. With respect to any securities and/or financial
instruments so held by any Credit Party or any of its customers, all rights in respect of such securities and financial instruments,
including any voting rights, will be exercised by the holder of the rights, in its sole discretion.

 

In
addition, each Borrower acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that each Credit Party
and its affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to
other companies in respect of which the Borrowers may have conflicting interests regarding the transactions described herein and
otherwise. No Credit Party will use confidential information obtained from any Borrower by virtue of the transactions contemplated
by the Loan Documents or its other relationships with the Borrowers in connection with the performance by such Credit Party of
services for other companies, and no Credit Party will furnish any such information to other companies. Each Borrower also acknowledges
that no Credit Party has any obligation to use in connection with the transactions contemplated by the Loan Documents, or to furnish
to any Borrower, confidential information obtained from other companies.

 

    125

     

    

 

SECTION
9.23. Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee
or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support”
and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution
power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution
Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding
that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or
of the United States or any other state of the United States):

 

In
the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a
proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support
(and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing
such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would
be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest,
obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event
a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime,
Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be
exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised
under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States
or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of
the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported
QFC or any QFC Credit Support.

 

[Signature
Pages Follow]

 

    126

     

    

 

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

 

	 	B.
    RILEY PRINCIPAL MERGER CORP., to be known as
	 	ALTA
    EQUIPMENT GROUP INC.
	 	 	 
	 	By:	/s/
    Daniel Shribman
	 	Name:
    	Daniel
    Shribman
	 	Title:	Chief
    Financial Officer
	 	 	 
	 	ALTA
    EQUIPMENT HOLDINGS, INC.
	 	 	 
	 	By:	/s/
    Ryan Greenawalt
	 	Name:
    	Ryan
    Greenawalt
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	ALTA
    ENTERPRISES, LLC
	 	ALTA
    CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	ALTA
    INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	ALTA
    HEAVY EQUIPMENT SERVICES, LLC
	 	ALTA
    INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	ALTA
    CONSTRUCTION EQUIPMENT, L.L.C.
	 	NITCO,
    LLC
	 	ALTA
    CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	 	By:	/s/
    Ryan Greenawalt
	 	Name: 	Ryan
    Greenawalt
	 	Title:	Manager
    of each of the above, on behalf of each of the above

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent
	 	 	 
	 	By:
    	/s/ Michael Byrne
	 	Name:
    	Michael Byrne
	 	Title:
    	Authorized
Officer

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	COMERICA BANK, as a Lender and a Co-Documentation Agent
	 	 	 
	 	By 	/s/ Michael Cliff
	 	Name:	Michael
Cliff
	 	Title:	Vice
President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	FIFTH THIRD BANK, NATIONAL ASSOCIATION, as a Lender and a Co-Documentation Agent
	 	 	 
	 	By 	/s/ John P. Hopkins
	 	Name:	John P. Hopkins
	 	Title:	Managing
Director

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

  

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender and a Co-Documentation Agent
	 	 	 
	 	By  	/s/ Josh Stehlin
	 	Name:	Josh
Stehlin
	 	Title:	Senior
Vice President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	BMO
    HARRIS BANK N.A., as a Lender and a Co-Documentation Agent
	 	 	 
	 	By  	/s/
Ran Li
	 	Name:	Ran
Li
	 	Title:	Vice
President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	KEYBANK, NATIONAL ASSOCIATION, as a Lender and a Co-Documentation Agent
	 	 	 
	 	By  	/s/ Matthew McLuckey
	 	Name:	Matthew
McLuckey
	 	Title:	Vice
President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement 

 

     

     

    

 

	 	CHEMICAL
    BANK
	 	 	 
	 	By  	/s/ Teresa L. Schuler
	 	Name:	Teresa
L. Schuler
	 	Title:	Vice
President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

	 	FLAGSTAR BANK
	 	 	 
	 	By  	/s/ Leo Kujawa
	 	Name:	Leo
Kujawa
	 	Title:	Senior
Vice President

 

Signature
Page to Fifth Amended and Restated ABL First Lien Credit Agreement

 

     

     

    

 

Commitment
Schedule

 

	Lender	 	Revolving Commitment	 
	JPMorgan Chase Bank, N.A.	 	$	85,000,000	 
	Comerica Bank	 	$	40,000,000	 
	Fifth Third Bank, National Association	 	$	40,000,000	 
	PNC Bank, National Association	 	$	35,000,000	 
	BMO Harris Bank N.A.	 	$	30,000,000	 
	KeyBank, National Association	 	$	30,000,000	 
	Chemical Bank	 	$	20,000,000	 
	Flagstar Bank	 	$	20,000,000	 
	Total:	 	$	300,000,000	 

 

     

     

    

  

SCHEDULES

 

to

 

FIFTH
AMENDED AND RESTATED ABL FIRST LIEN CREDIT AGREEMENT

 

dated
as of

 

February
3, 2020

 

among

 

B.
RILEY PRINCIPAL MERGER CORP. (to be renamed ALTA EQUIPMENT GROUP INC.),

ALTA
EQUIPMENT HOLDINGS, INC.,

ALTA
ENTERPRISES, LLC, 

ALTA
CONSTRUCTION EQUIPMENT ILLINOIS, LLC, 

ALTA
HEAVY EQUIPMENT SERVICES, LLC, 

ALTA
INDUSTRIAL EQUIPMENT MICHIGAN, LLC, 

ALTA
CONSTRUCTION EQUIPMENT, L.L.C.

ALTA
INDUSTRIAL EQUIPMENT COMPANY, L.L.C., 

NITCO,
LLC, 

and

ALTA
CONSTRUCTION EQUIPMENT FLORIDA, LLC,

as
Borrowers

 

The
Lenders Party Thereto

 

and

 

JPMORGAN
CHASE BANK, N.A.

as
Administrative Agent

 

___________________________

 

JPMORGAN
CHASE BANK, N.A.,

as
Sole Bookrunner and Sole Lead Arranger

 

Reference
is made to the FIFTH AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT identified above (the “Agreement”). Unless otherwise
defined, or the context otherwise clearly requires, terms defined in the Agreement shall have such meanings when used herein.

 

     

     

    

 

Table
of Contents

 

	SCHEDULE
    3.05  PROPERTIES	1
	 	 
	SCHEDULE
    3.06  DISCLOSED MATTERS	3
	 	 
	SCHEDULE
    3.17  SUBORDINATED DEBT DOCUMENTS	4
	 	 
	SCHEDULE
    3.21  MATERIAL AGREEMENTS	6
	 	 
	SCHEDULE
    3.22  CAPITALIZATION AND SUBSIDIARIES	8
	 	 
	SCHEDULE
    3.25  SECOND LIEN LOAN DOCUMENTS	9
	 	 
	SCHEDULE
    3.28  INSURANCE	14
	 	 
	SCHEDULE
    3.30  B. RILEY MERGER / EQUITY TRANSACTIONS	15
	 	 
	SCHEDULE
    6.01  EXISTING INDEBTEDNESS	18
	 	 
	SCHEDULE
    6.02  EXISTING LIENS	21
	 	 
	SCHEDULE
    6.04  EXISTING INVESTMENTS	29
	 	 
	SCHEDULE
    6.13(a)  FIXED CHARGE COVERAGE RATIO	30

 

    Schedule-i

     

    

 

SCHEDULE
3.05

PROPERTIES

 

	Loan
    Party	Property
    Address	Owned
    or Leased
	Alta
    Enterprises, LLC	6
    Jonspin Road Wilmington, Massachusetts	Leased
	1400
    McGregor Way, Unit 6, Traverse City, Michigan	Leased
	Alta
    Construction Equipment Illinois, LLC	613
    E. Stevenson Road, Ottawa, Illinois	Leased
	2500
    Westward Dr. #2 and 2504 Westward Dr., Spring Grove, IL	Leased
	5000
    Industrial HWY, Gary, IN 46406-1122	Leased
	1035
    Wylie Drive, Bloomington, Illinois 61704	Leased
	Alta
    Heavy Equipment Services, LLC	None.	N/A
	Alta
    Industrial Equipment Michigan, LLC, 	6337
    Jomar Court, Lansing, Michigan	Leased
	13211
    Merriman Rd., Livonia, Michigan	Leased
	2470
    W. Columbia, Battle Creek, Michigan	Leased
	4716
    Talon Ct. SE, Kentwood, Michigan	Leased
	5920
    Grand Haven Road, Muskegon, Michigan	Leased
	28855
    Smith Road, Romulus, Michigan	Leased
	1524
    Champagne, Saginaw, MI	Leased
	7500
    E. 15 Mile, Sterling Heights, Michigan	Leased
	9433
    Riley St., Zeeland, Michigan	Leased
	3502
    W. McGill St., South Bend, Indiana	Leased
	2308
    Clay Street, Elkhart, Indiana	Leased
	517
    Dale Avenue, Mancelona, Michigan	Leased
	Alta
    Construction Equipment, L.L.C.	56195
    Pontiac Trail, New Hudson, Michigan	Leased
	3283
    S. Dort Hwy, Burton, Michigan	Leased
	5100-5160
    Loraine Street, Detroit, Michigan	Leased
	8840
    Byron Commerce DR SW, Byron Twp., Michigan	Leased
	1061
    Stepke Court, Traverse City, Michigan	Leased
	3725
    Old US Hwy 27 S., Gaylord, Michigan	Leased

 

    Schedule-1

     

    

 

	Alta Industrial Equipment Company, L.L.C.	1901 Albright, Montgomery, Illinois	Leased
	625 District Drive, Itasca, Illinois	Leased
	150 State Street, Calumet City, Illinois	Leased
	1049 Lily Cache Lane, Bolingbrook, Illinois	Leased
	NITCO, LLC	114 Hall Street, Concord, New Hampshire	Leased
	230 Cherry Street, Shrewsbury, Massachusetts 	Leased
	6 Jonspin Road Wilmington, Massachusetts	Leased
	150 N. Plains Industrial Road, Wallingford, Connecticut	Leased
	23 Foss Road, Lewiston, ME 04240	Leased
	3 Chalet Road (Route 44), Middleboro, Massachusetts	Leased
	2820 Curry Road, Schenectady, New York	Leased
	6847 Ellicott Drive, East Syracuse, New York	Leased
	241 Paul Road, Rochester, New York	Leased
	4381 Walden Avenue, Lancaster, New York	Leased
	33B Commerce Avenue, South Burlington, Vermont	Leased
	535 Vestal Parkway West, Vestal, New York	Leased
	Alta Construction Equipment Florida, LLC	5151 Dr. Martin Luther King Blvd, Ft. Myers, Florida	Leased
	5210 Reese Road, Davie, Florida	Leased
	8418 Palm River Road, Tampa, Florida	Leased
	8750 Phillips Highway, Jacksonville, Florida	Leased
	Lot 4, Block 1 Nesbitt’s & Crawford’s Subdivision adjacent to 8750 Phillips Highway, Jacksonville, Florida	Leased.
	539 SW Arrowhead Terrace, Lake City, Florida	Leased
	9601 Boggy Creek Road, Orlando, Florida	Leased
	6100-6144 N.W. 74th Avenue, Miami, Florida	Leased
	9701 S. John Young Parkway, Orlando, Florida	Leased
	Suite 120-G & H, 595 Bay Isles Road, Longboat Key, Florida	Leased
	Alta Equipment Group Inc.	None.	N/A
	Alta Equipment Holdings, Inc.	None.	N/A

 

    Schedule-2

     

    

 

SCHEDULE
3.06

DISCLOSED MATTERS

 

None.

 

    Schedule-3

     

    

 

SCHEDULE
3.17

SUBORDINATED DEBT DOCUMENTS 

 

		1.	Marysa
                                         L. Greenawalt Separate Property Trust UAD 7/9/2009, which will be paid off and terminated
                                         on the Effective Date.

		a.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Marysa
                                         L. Greenawalt Separate Property Trust UAD 7/9/2009 by Alta Enterprises, LLC.

		b.	Subordination
                                         Agreement dated as of December 27, 2017 by and among Marysa L. Greenawalt Separate Property
                                         Trust UAD 7/9/2009, Alta Enterprises, LLC, the Administrative Agent, and Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative.

 

		2.	Nathan
                                         G. Greenawalt Separate Property Trust UAD 6/17/2009, which will be paid off and terminated
                                         on the Effective Date.

		a.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Nathan
                                         G. Greenawalt Separate Property Trust UAD 6/17/2009 by Alta Enterprises, LLC.

		b.	Subordination
                                         Agreement dated as of December 27, 2017 by and among Nathan G. Greenawalt Separate Property
                                         Trust UAD 6/17/2009, Alta Enterprises, LLC, the Administrative Agent, and Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative.

 

		3.	Darrin
                                         J. Greenawalt Separate Property Trust, which will be paid off and terminated on the Effective
                                         Date.

		a.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Darrin
                                         J. Greenawalt Separate Property Trust by Alta Enterprises, LLC.

		b.	Subordination
                                         Agreement dated as of December 27, 2017 by and among Darrin J. Greenawalt Separate Property
                                         Trust, Alta Enterprises, LLC, the Administrative Agent, and Goldman Sachs Specialty Lending
                                         Group, L.P., as the Second Lien Notes Representative.

 

		4.	Greenawalt
                                         QSST TRUST, which will be paid off and terminated on the Effective Date.

		a.	Subordination
                                         Agreement dated as of December 27, 2017 by and among Greenawalt QSST TRUST, Alta Enterprises,
                                         LLC, the Administrative Agent, and Goldman Sachs Specialty Lending Group, L.P., as the
                                         Second Lien Notes Representative.

		b.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
                                         QSST TRUST FBO Darrin J. Greenawalt by Alta Enterprises, LLC.

		c.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
                                         QSST TRUST FBO Marysa L. Greenawalt by Alta Enterprises, LLC.

		d.	Unsecured
                                         Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
                                         QSST TRUST FBO Nathan G. Greenawalt by Alta Enterprises, LLC.

 

		5.	Amended
                                         and Restated ABL First Lien Intercompany Subordination Agreement entered into on or prior
                                         to the Effective Date by Loan Parties in favor of the Administrative Agent.

 

		6.	Intercompany
                                         Subordination Agreement dated as of December 27, 2017 by and among Alta Enterprises,
                                         LLC, a Michigan limited liability company, Alta Construction Equipment Illinois, LLC,
                                         a Michigan limited liability company, Alta Heavy Equipment Services, LLC, a Michigan
                                         limited liability company, Alta Industrial Equipment Michigan, LLC, a Michigan limited
                                         liability company, Alta Construction Equipment, L.L.C., a Michigan limited liability
                                         company, Alta Industrial Equipment Company, L.L.C., a Michigan limited liability company
                                         in favor of Goldman Sachs Specialty Lending Group, L.P, which will be terminated on the
                                         Effective Date.

 

    Schedule-4

     

    

 

		7.	Intercompany
                                         Subordination Agreement entered into on or prior to the Effective Date by the Loan Parties
                                         in favor of the Second Lien Notes Representative.

  

		8.	Amended
                                                                                                                                                                                                                                                                                                                                  and Restated Floor Plan First Lien Intercompany Subordination Agreement entered into on or prior to the Effective Date by and
                                                                                                                                                                                                                                                                                                                                  between Floor Plan Administrative Agent and Loan Parties.

 

		9.	Due
                                         to the Loan Parties’ shared banking relationship, each Loan Party generates intercompany
                                         due to or due from balances. Intercompany due to and due from balances at 11/30/19 were
                                         as follows:

 

	Operating
    company	12/31/19
    intercompany due to balance	12/31/19
    intercompany due from balance
	Alta
    Enterprises	$0
    	$24,543,687
    
	Alta
    Equipment Company Michigan, LLC	$24,543,687
    	$101,085,388
    
	Alta
    Construction Equipment, LLC	$39,411,395
    	$112,911
    
	Alta
    Industrial Equipment Company, LLC	$1,203,224
    	$7,401
    
	Alta
    Construction Equipment Illinois, LLC	$36,659,714
    	$6,445,820
    
	Alta
    Heavy Equipment Services	$4,642,009
    	$4,642,009
    
	Nitco,
    LLC.	$30,377,187
    	$0
    
	Total	$136,837,216
    	$136,837,216
    

 

    Schedule-5

     

    

 

SCHEDULE
3.21

MATERIAL AGREEMENTS

 

		1.	The
                                         following contracts with Volvo Construction Equipment North America, Inc.:

		a.	Dealer
                                         Agreement dated February 2, 2010, between Volvo Construction Equipment North America,
                                         Inc. and Alta Construction Equipment, L.L.C.;

		b.	Dealer
                                         Agreement dated January 5, 2018, by and between Volvo Construction Equipment North America,
                                         LLC and Alta Construction Equipment Illinois, LLC (Illinois); and

		c.	Dealer
                                         Agreement dated January 5, 2018, by and between Volvo Construction Equipment North America,
                                         LLC and Alta Construction Equipment Illinois, LLC (Indiana).

 

		2.	Dealer
                                         Agreement dated April 29, 2019 by and between Hyster-Yale Group, Inc. and Alta Enterprises,
                                         LLC, Alta Industrial Equipment Michigan, LLC, Alta Industrial Equipment Company, LLC,
                                         and NITCO, LLC.

 

		3.	The
                                         following contracts with Takeuchi Manufacturing (U.S.), LTD.:

		a.	Dealer
                                         Agreement dated March 2, 2018 between Alta Construction Equipment, LLC and Takeuchi Manufacturing
                                         (U.S.), LTD.;

		b.	Sales
                                         Terms and Condition dated January 1, 2016 between Takeuchi Mfg. (U.S.) Ltd. And Alta
                                         Equipment;

		c.	Dealer
                                         Agreement dated in 2018, by and between Alta Construction Equipment Illinois, LLC and
                                         Takeuchi Mfg. (U.S.) Ltd.; and

		d.	Alta
                                         Equipment New Territory Proposal (Illinois) dated June 1, 2018, by Takeuchi Mfg. (U.S.)
                                         Ltd.

 

		4.	The
                                         following Contracts with JCB, Inc.:

		a.	JCB
                                         Access Agreement (CT) dated October 2, 2017 between JCB, Inc. and NITCO (as successor
                                         to Northland Industrial Trucking Co. Inc.);

		b.	Construction
                                         Agreement dated April 20, 2016 between JCB, Inc. and NITCO (as successor to Northland
                                         Industrial Trucking Co. Inc.);

		c.	JCB
                                         Access Agreement (MA) dated October 2, 2017 between JCB, Inc. and NITCO (as successor
                                         to Northland Industrial Trucking Co. Inc.);

		d.	Construction
                                         Agreement dated in 2013 between JCB, Inc. and NITCO (as successor to Northland Industrial
                                         Trucking Co. Inc.);

		e.	JCB
                                         Access Agreement (ME) dated October 2, 2017 between JCB, Inc. and NITCO (as successor
                                         to Northland Industrial Trucking Co. Inc.);

		f.	JCB
                                         Access Agreement (NH) dated October 2, 2017 between JCB, Inc. and NITCO (as successor
                                         to Northland Industrial Trucking Co. Inc.); and

		g.	JCB
                                         Access Agreement (RI) dated October 2, 2017 between JCB, Inc. and NITCO (as successor
                                         to Northland Industrial Trucking Co. Inc.)

 

    Schedule-6

     

    

 

		5.	The
                                         following material dealer agreements were, are or will be assigned from Flagler Construction
                                         Equipment, LLC or FlaglerCE Holdings, LLC to Alta Construction Equipment Florida, LLC
                                         upon the consummation of the Flagler Acquisition, or new agreements will be entered into
                                         by Alta Construction Equipment Florida, LLC on or after the consummation of the Flagler
                                         Acquisition:

		a.	The following Contracts with Cummins Inc.:

		i.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 8750 Philips
Highway, Jacksonville, FL 32256, dated December 6, 2017;

		ii.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 5151 Martin
Luther King Jr. Boulevard, Fort Meyers, FL 33905, dated December 6, 2017;

		iii.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 9601 Boggy
Creek Road, Orlando, FL 32824, dated December 6, 2017;

		iv.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 8418 Palm River
Road, Tampa, FL 33619, dated December 6, 2017; and

		v.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 5210 Reese
Road, Davie, FL 33314, dated December 6, 2017.

 

		b.	Dealer
                                         Agreement between Kolberg-Pioneer, Inc., Johnson Crushers International, Inc., Astec
                                         Mobile Screens, Inc., and Flagler Construction Equipment, 8418 Palm River Road, Tampa,
                                         FL 33619, dated December 20, 2018 and Addendum.

		c.	Dealer
                                         Sales and Service Agreement between Volvo Construction Equipment North America, Inc.
                                         and Flagler Construction Equipment, LLC, 8418 Palm River Road, Tampa, FL 33619, dated
                                         August 22, 2019

		d.	The
                                         following Contracts with Takeuchi Mfg. (US), Ltd.:

		i.	Warranty Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and Flagler Construction
Equipment, LLC, dated January 16, 2017, effective January 1, 2017;

		ii.	Warranty Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and FlaglerCE Holdings,
LLC, dated January 28, 2019;

		iii.	Sales Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and Flagler Construction
Equipment, LLC, dated January 16, 2017, effective January 1, 2017;

		iv.	Dealer Agreement, between Takeuchi Manufacturing (U.S.) Ltd and Flagler Construction Equipment,
LLC, dated February 17, 2017; and

		v.	Individual Guaranty, between Takeuchi Manufacturing (U.S.) Ltd. (as Secured Party) and Thomas Holmes
(as Guarantor).

 

		6.	The
                                         following dealer agreements were, are or will be assigned from Liftech Equipment Companies,
                                         Inc. to NITCO, LLC upon the consummation of the Liftech Acquisition, or new agreements
                                         will be entered into by NITCO, LLC on or after the consummation of the Liftech Acquisition:

		a.	Sales
                                         & Service Distributor Agreement by and between Doosan Infracore Portable Power and
                                         Liftech Equipment Companies, Inc. dated as of April 1, 2019.

		b.	Dealer
                                         Agreement by and between Hyster-Yale Group, Inc. and Liftech Equipment Companies, Inc. dated as of
                                         April 1, 2016.

		c.	Authorized
                                         North American Distributor Agreement by and between Trackmobile LLC and Liftech Equipment
                                         Companies, Inc. dated as of April 16, 2018.

		d.	Dealership
                                         Agreement (Massachusetts) by and between JCB Inc. and Liftech Equipment Companies, Inc.
                                         dated as of October 30, 2017.

		e.	Dealership
                                         Agreement (New York) by and between JCB Inc. and Liftech Equipment Companies, Inc. dated
                                         as of October 30, 2017.

		f.	Dealership
                                         Agreement (Vermont) by and between JCB Inc. and Liftech Equipment Companies, Inc. dated
                                         as of October 30, 2017.

		g.	Dealer
                                         Agreement by and between Mariotti USA Inc. and Liftech Equipment Companies, Inc. dated
                                         as of April 19, 2016.

		h.	Distributor
                                         Sales and Service Agreement dated June 6, 2005 by and between Liftech Equipment Companies,
                                         Inc. and JLG Industries, Inc.

		i.	Authorized North American Distributor Agreement by and
between Zephir SPA and Liftech Equipment Companies, Inc. dated as of December 15, 2017.

 

    Schedule-7

     

    

 

SCHEDULE 3.22

CAPITALIZATION AND SUBSIDIARIES

 

Subsidiaries
of Alta Group:

 

	Subsidiary	Ownership	Type
    of Entity
	Alta
    Equipment Holdings, Inc.	100%
    owned by Alta Group	C
    Corporation
	Alta
    Enterprises, LLC	68.33%
        owned by Alta Group

        31.67%
        owned by Alta Equipment Holdings, Inc.
	Limited
    Liability Company
	Alta
    Construction Equipment Illinois, LLC	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	Alta
    Heavy Equipment Services, LLC	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	Alta
    Industrial Equipment Michigan, LLC	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	Alta
    Construction Equipment, L.L.C.	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	Alta
    Industrial Equipment Company, L.L.C.	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	NITCO,
    LLC	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company
	Alta
    Construction Equipment Florida, LLC	100%
    owned by Alta Enterprises, LLC	Limited
    Liability Company

 

Equity
Interest of Alta Group:

 

	Loan
    Party	Equity
    Interest	Type
    of Entity
	Alta
    Group	33.9%
        to 47.04% by Public Stockholders

        20.45%
        to 16.38% by Initial Stockholders and Affiliates

        11.71%
        to 14.62% by Non-Affiliate PIPE Investors

        24.87%
        to 31.04% by Alta Equityholders
	C
    Corporation

 

    Schedule-8

     

    

 

SCHEDULE
3.25

 

SECOND LIEN LOAN DOCUMENTS

 

MSD
Documents:

 

	I.	NOTE PURCHASE AGREEMENT DOCUMENTS

	1.	Note Purchase Agreement

Schedules

Commitment
Schedule

Schedule
1.01(A) Principal Office

Schedule
3.05 Notes Parties

Schedule
3.06Disclosed Matters

Schedule
3.17Subordinated Indebtedness Documents

Schedule
3.20Material Dealer Agreements

Schedule
3.21Capitalization and Subsidiaries

Schedule
3.24First Lien Loan Documents and Floor Plan Loan Documents

Schedule 3.27 Insurance

Schedule 3.29B. Riley Merger/ Equity Transactions

Schedule
6.01Existing Indebtedness

Schedule
6.02Existing Liens

Schedule
6.04Existing Investments

Schedule 6.13(e) Historical EBITDA, Capital Expenditures
and Fixed Charges

Exhibits

Exhibit
A - Form of Assignment and Assumption

Exhibit
B – Form of First Lien Intercreditor Agreement

Exhibit
C - Form of Note

Exhibit
D - Form of Funding Notice

	2.	Notes to be issued to the Purchasers

	3.	Pledge and Security Agreement

Schedules

Exhibit
A – Notice Addresses; Information and Collateral Locations

Exhibit
B – Deposit Accounts

Exhibit
C – Letter of Credit Rights; Chattel Paper

Exhibit
D – Intellectual Property Rights

Exhibit
E – Titled Collateral

Exhibit
F - Fixtures

Exhibit
G – Pledged Collateral, Securities and Investment Property

Exhibit
H – UCC filing locations

Exhibit
I – Commercial Tort Claims

Exhibit
J - Amendment

Annexes

Annex
I - Assumption Agreement

	4.	Notes Party Guaranty

	5.	Intercompany Subordination Agreement

	6.	Trademark and Patent Security Agreement

	7.	Intercreditor Agreements with respect to vendor floor plan financings

		(a)	HYG
                                         Financial Services, Inc., formerly known as NMHG Financial Services, Inc. d/b/a Hyster

		(b)	Takeuchi Mfg. Ltd.

		(c)	VFS
US LLC

		(d)	Terex
Financial Services, Inc.

		(e)	De
Lage Landen Financial Services, Inc.

		(f)	Wells
Fargo Commercial Distribution Finance, LLC

		(g)	PNC
Equipment Finance LLC

	8.	First Lien Intercreditor Agreement

 

    Schedule-9

     

    

 

	II.	OTHER COLLATERAL DOCUMENTS

	1.	Delivery
                                         of Capital Stock of each Subsidiary of each Notes Party, together with instruments of
                                         transfer and undated stock powers endorsed in blank

		2.	UCC
                                         (or equivalent), tax lien, judgment lien, bankruptcy, litigation and IP searches for
                                         each Notes Party

	3.	UCC-1 financing statements

	4.	Intercompany Subordination Agreement

	5.	Deposit Account Control Agreement

	6.	Collateral Access Agreements

 

	III.	LEGAL OPINIONS

	1.	Opinion of H&H, counsel to Notes Parties

 

	IV.	CORPORATE DOCUMENTS

	1.	Secretary’s Certificate for each Notes Party, attaching & certifying
to:

		(a)	Resolutions

		(b)	Incumbency
                                         and signatures

		(c)	Organization
                                         Documents

		(d)	Good
                                         standing certificate

		(e)	Foreign
                                         good standing certificates, if applicable

 

	V.	MISCELLANEOUS CLOSING DOCUMENTS AND CERTIFICATES

	1.	Funding Notice and Letter of Direction, together with Funds Flow

	2.	Solvency Certificate

	3.	Vendor Floor Plan Financing Agreements/amendments

		(a)	HYG Financial Services, Inc., formerly known as NMHG Financial Services, Inc. d/b/a Hyster

		(b)	VFS US LLC

		(c)	Takeuchi Mfg. (US), Ltd.

		(d)	Terex Financial Services, Inc.

		(e)	De Lage Landen Financial Services, Inc.

		(f)	Wells Fargo Commercial Distribution Finance, LLC

		(g)	PNC

	4.	Officer’s certificate from a Financial Officer of Alta Group attaching
and certifying to:

		(a)	Solvency

		(b)	All
                                         conditions precedent to the closing of the Liftech Acquisition and the Flagler Acquisition
                                         (in each case, other than payment of the consideration) are satisfied upon the purchase
                                         of the Notes and the payment of the consideration

		(c)	The
                                         Flagler Acquisition is consummated in accordance with the terms of the Credit Agreement
                                         and all representations in Section 3.25 of the Credit Agreement are true and correct

		(d)	The
                                         Liftech Acquisition is consummated in accordance with the terms of the Credit Agreement
                                         and all representations in Section 3.26 of the Credit Agreement are true and correct

		(e)	On
                                         the Effective Date and immediately after giving effect to the Transactions contemplated
                                         to the occur on the Effective Date and the payment of all related costs and expenses,
                                         the Issuers and their Subsidiaries have Availability of at least $75,000,0000

		(f)	Copies
                                         of the Flagler Acquisition Documents

		(g)	Copies
                                         of the Liftech Acquisition Documents

		(h)	Copies
                                         of the B. Riley Merger/Equity Transaction Agreements

		(i)	Copies
                                         of all First Lien Loan Documents

		(j)	Copies
                                         of all Floor Plan Loan Documents

		(k)	Copies
                                         of any other vendor floor plan loan documents

 

    Schedule-10

     

    

 

	5.	Financial Statements; Projections:

		(a)	the
                                         Historical Financial Statements

		(b)	pro
                                         forma consolidated and consolidating balance sheets of Issuers and their Subsidiaries
                                         as of the Effective Date, and reflecting the transactions contemplated by the Transactions
                                         in each to occur on or prior to the Effective Date, which pro forma financial statements
                                         shall be in form and substance satisfactory to the Required Purchasers

		(c)	the
                                         projections referred to in Section 3.04(b)

		6.	The
                                         corporate structure, capital structure and other material debt instruments, material
                                         accounts and governing documents of the Issuers and their Affiliates shall be acceptable
                                         to the Purchasers in their sole discretion

		7.	Certificates
                                         of insurance together with the endorsements thereto, in each case, naming the Second
                                         Lien Notes Representative as additional insured and lenders’ loss payee thereunder,
                                         and otherwise in compliance with the terms of Section 5.05 of the Note Purchase Agreement.

		8.	Evidence
                                         from Egan Jones Rating Company that, after taking into account the Transactions, the
                                         Rating on the Notes is at least BBB-

	9.	Administrative Questionnaire

	10.	Collateral Assignment of Business Interruption Insurance

	11.	Assignment of Representations and Warranties Insurance
    (Flagler)

	12.	Payment of all fees and expenses

	13.	USA Patriot Act/KYC and W-8 or W-9 Forms, as applicable, for each Notes
Party

 

	VI.	PAYOFF DOCUMENTS

	1.	Payoff Letters Regarding Subordinated Debt to Greenawalt Family

		(a)	Marysa
                                         L. Greenawalt Separate Property Trust UAD 7/9/2009

		(b)	Nathan
                                         G. Greenwalt Separate Property Trust UAD 6/17/2009

		(c)	Darrin
                                         J. Greenawalt Separate Property Trust

		(d)	Greenawalt
                                         QSST Trust

	2.	Return of Alta Equipment Company, Inc. Stock Certificates 15 and 16

	3.	Payoff Letters/Release/Terminations – Goldman Sachs

		(a)	Payoff
                                         Letter

		(b)	DACA
                                         Termination

		(c)	Termination
                                         of Trademark and Patent Security Agreement

		(d)	UCC-3s

		i.	20171227000660-2

		ii.	20171227000658-7

		iii.	20171227000662-0

		iv.	20171227000659-6

		v.	20171227000667-5

		vi.	20171227000665-7

		vii.	[NITCO
Filing]

	4.	Payoff Letters with respect to Flagler and Liftech Acquisitions:

		(a)	VFS US LLC Payoff Letter

		(b)	Red Iron Acceptance, LLC

	5.	W-9 for Alta Equipment Group Inc.

 

    Schedule-11

     

    

 

	VII.	POST-CLOSING DELIVERABLES

	1.	UCC-3s with respect to Flagler and Liftech Acquisitions

 

Goldman
Sachs Documents:1

 

		1.	Note
                                         Purchase Agreement (the “Goldman Note Purchase Agreement”), dated December
                                         27, 2017, by and among Alta Enterprises, LLC, Alta Construction Equipment Illinois, LLC,
                                         Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction
                                         Equipment, L.L.C., Alta Industrial Equipment Company, L.L.C., (collectively, as “Issuers”)
                                         the Purchasers (as defined in the Goldman Note Purchase Agreement) party thereto, and
                                         Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative,
                                         as amended by that certain Joinder and Third Amendment to Note Purchase Agreement, dated
                                         May 1, 2019, adding NITCO, LLC as an Issuer, by and among Issuers and Goldman Sachs Specialty
                                         Lending Group, L.P., as the Second Lien Notes Representative, and as amended by that
                                         certain Joinder to Note Purchase Agreement, dated February ___, 2020, adding Alta Construction
                                         Equipment Florida, LLC as an Issuer, by and among Issuers and Goldman Sachs Specialty
                                         Lending Group, L.P., as the Second Lien Notes Representative;

		2.	Consent
                                         and Joinder of Loan Agreement, dated May 1, 2019, by and among Alta Enterprises, LLC,
                                         Alta Construction Equipment Illinois, LLC, Alta Heavy Equipment Services, LLC, Alta Industrial
                                         Equipment Michigan, LLC, Alta Construction Equipment, L.L.C., Alta Industrial Equipment
                                         Company, L.L.C., and NITCO, LLC, and Goldman Sachs Specialty Lending Group, L.P., as
                                         the Second Lien Notes Representative;

		3.	Promissory
                                         Note in the principal amount of $40,000,000.00 dated December 27, 2017 issued by the
                                         Issuers in favor of Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes
                                         Representative;

		4.	Secured
                                         Note in the principal amount of $3,500,000.00 dated April 13, 2018 issued by Issuers
                                         in favor of Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		5.	Secured
                                         Note in the principal amount of $5,000,000.00 dated July 31, 2018 issued by Issuers in
                                         favor of Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		6.	Delayed
                                         Draw Noted in the principal amount of $11,500,000 dated May 1, 2019 issued by Issuers
                                         in favor of Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		7.	Amended
                                         and Restated Second Lien Pledge and Security Agreement, dated May 1, 2019, by and among
                                         Issuers, and Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		8.	Guaranty
                                         dated December 27, 2017 by Issuers in favor of each of Goldman Sachs Specialty Lending
                                         Group, L.P., as the Second Lien Notes Representative and the Purchasers;

		9.	Patent
                                         and Trademark Security Agreement dated December 27, 2017 by Issuers in favor of each
                                         of Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative
                                         and the Purchasers;

		10.	Blocked
                                         Account Control Agreement dated December 27, 2017 by and among the Administrative Agent,
                                         Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative,
                                         and JPMorgan Chase Bank, N.A., as the Depositary, as amended;

		11.	Collateral
                                         Access Agreements dated December 27, 2017 by and between Alta Industrial Real Estate
                                         Company, L.L.C. and Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes
                                         Representative;

		12.	Collateral
                                         Access Agreements dated December 27, 2017 by and between Greenawalt, LLC and Goldman
                                         Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		13.	Collateral
                                         Access Agreements dated December 27, 2017 by and between Wixom, L.L.C. and Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative;

 

 

 

 

	1	The
    Indebtedness to Goldman Sachs Specialty Lending Group, L.P., as Notes Representative, will be paid off and terminated in
    connection with the Closing. The Liens filed by Goldman Sachs Specialty Lending Group, L.P., as Notes Representative, will be
    terminated on the Effective Date.

    Schedule-12

     

    

 

		

                                                                                14.
	Collateral
                                         Assignment of Business Interruption Insurance Policy as Collateral Security dated December
                                         27, 2017 by Issuers in favor of Goldman Sachs Specialty Lending Group, L.P., as the Second
                                         Lien Notes Representative;

		15.	Collateral
                                         Access Agreements dated May 1, 2019 by and between Northland Lift LLC, a Delaware limited
                                         liability company, PICK IT UP SERIES and Goldman Sachs Specialty Lending Group, L.P.,
                                         as the Second Lien Notes Representative;

		16.	Collateral
                                         Access Agreements dated May 1, 2019 by and between Northland Lift LLC, a Delaware limited
                                         liability company, DIG IT UP SERIES and Goldman Sachs Specialty Lending Group, L.P.,
                                         as the Second Lien Notes Representative;

		17.	Collateral
                                         Access Agreements dated May 1, 2019 by and between Northland Lift LLC, a Delaware limited
                                         liability company, LIFT IT UP SERIES and Goldman Sachs Specialty Lending Group, L.P.,
                                         as the Second Lien Notes Representative;

		18.	Collateral
                                         Access Agreements, dated May 1, 2019, by and between Polito Development Corporation,
                                         and Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		19.	Collateral
                                         Access Agreements, dated May 1, 2019, by and between Elmwood Industrial Park, LLC, and
                                         Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		20.	Collateral
                                         Access Agreements, dated May 1, 2019, by and between Norma A. Crowley and Paul Crowley,
                                         Trustees of Crowley Realty Nominee Trust Dated May 1, 1989, and Goldman Sachs Specialty
                                         Lending Group, L.P., as the Second Lien Notes Representative;

		21.	Irrevocable
                                         Proxy by each Issuer;

		22.	UCC
                                         financing statements in favor of Goldman Sachs Specialty Lending Group, L.P., as the
                                         Second Lien Notes Representative;

		23.	Fee
                                         Letter dated December 27, 2017 by and among Issuers and Goldman Sachs Specialty Lending
                                         Group, L.P., as the Second Lien Notes Representative;

		24.	Intercompany
                                         Subordination Agreement dated December 27, 2017 by Issuers in favor of Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative for the Purchasers
                                         party to the Goldman Note Purchase Agreement;

		25.	Subordination
                                         Agreement dated December 27, 2017 by and among Marysa L. Greenawalt Separate Property
                                         Trust UAD 7/9/2009, the Administrative Agent, and Goldman Sachs Specialty Lending Group,
                                         L.P., as the Second Lien Notes Representative;

		26.	Subordination
                                         Agreement dated December 27, 2017 by and among Nathan G. Greenawalt Separate Property
                                         Trust UAD 6/17/2009, the Administrative Agent, and Goldman Sachs Specialty Lending Group,
                                         L.P., as the Second Lien Notes Representative;

		27.	Subordination
                                         Agreement dated December 27, 2017 by and among Darrin J. Greenawalt Separate Property
                                         Trust, the Administrative Agent, and Goldman Sachs Specialty Lending Group, L.P., as
                                         the Second Lien Notes Representative;

		28.	Subordination
                                         Agreement dated December 27, 2017 by and among Greenawalt QSST TR, the Administrative
                                         Agent, and Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative;

		29.	Collateral
                                         Assignment of Business Interruption Insurance Policy as Collateral Security dated December
                                         27, 2017 by Issuers in favor of Goldman Sachs Specialty Lending Group, L.P., as the Second
                                         Lien Notes Representative;

		30.	Purchase
                                         Warrant issued by Alta Enterprises to Goldman Sachs & Co. LLC;

		31.	Intercreditor
                                         Agreement dated December 27, 2017 between the Administrate Agent and Goldman Sachs Specialty
                                         Lending Group, L.P., as the Second Lien Notes Representative, as amended;

		32.	Intercreditor
                                         Agreement dated December 27, 2017 by and among the Administrative Agent, Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative, and HYG Financial
                                         Services, Inc., as amended;

		33.	Amended
                                         and Restated Intercreditor Agreement dated December 20, 2017 by and among the Administrative
                                         Agent, Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes Representative,
                                         and VFS US LLC, as amended;

		34.	Intercreditor
                                         Agreement dated December 27, 2017 by and among the Administrative Agent, Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative, and Terex Financial
                                         Services, Inc., as amended;

		35.	Intercreditor
                                         Agreement dated December 27, 2017 by and among the Administrative Agent, Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative, and De Lage Landen
                                         Financial Services, Inc.;

		36.	Intercreditor
                                         Agreement dated October 9, 2019, by and among the Administrative Agent, Goldman Sachs
                                         Specialty Lending Group, L.P., as the Second Lien Notes Representative, and PNC Equipment
                                         Finance, LLC; and

		37.	Any
                                         and all other agreements, instruments, documents and certificates delivered pursuant
                                         to the Goldman Note Purchase Agreement.

 

    Schedule-13

     

    

 

SCHEDULE
3.28

INSURANCE

 

See attached.

 

    Schedule-14

     

    

 

SCHEDULE
3.30

 

B.
RILEY MERGER / EQUITY TRANSACTIONS

 

B.
Riley Merger/Equity Transactions

 

On
December 12, 2019, B. Riley Principal Merger Corp., a Delaware corporation (“BRPM”), and BRPM’s wholly-owned
subsidiary BR Canyon Merger Sub Corp., a Michigan corporation (“Merger Sub”), Alta Holdings and Ryan Greenawalt
(“Greenawalt”) entered into that certain Agreement and Plan of Merger (the “Merger Agreement”)
pursuant to which Merger Sub will merge with and into Alta Holdings, the separate corporate existence of Merger Sub will thereupon
cease, and Alta Holdings will become a wholly-owned subsidiary of BRPM (collectively, the “Acquisition”). Upon
the closing of the Acquisition and on the Effective Date BRPM will change its name to “Alta Equipment Group Inc.”

 

Upon
consummation of the Merger, the holder of each share of common stock of Alta Holdings will receive, in respect of such share,
such holder’s pro rata the portion of (a) 7,300,000 shares of common stock of BRPM (with an assumed value of $10.00 / share),
and (b) $10,050,000 in cash.

 

Subject
to the terms and conditions set forth in the Merger Agreement and the other B. Riley Merger/Equity Transaction Agreements, on
the Effective Date BRPM will pay off the existing Indebtedness of Alta Holdings and its Subsidiaries, which is anticipated to
be approximately $295 million, and Alta Holdings’s equityholders, which include Greenawalt (the “Sellers”),
will receive aggregate consideration with a value equal to $119 million, which will consist of: (a) $43 million in cash, and (b)
$76 million of shares of BRPM’s common stock, or 7,600,000 shares valued at $10.00 per share. Sponsor will forfeit 1,470,855
shares of Class B common stock (the “Founder Shares”) to BRPM for cancellation upon the Effective Date.

 

BRPM
will obtain the debt financing (as described below), (a) BRPM will have an aggregate of at least $143 million of cash available
from the trust account (the “trust account”) established in connection with BRPM’s initial public offering
(the “IPO”) and from equity financing sources, and (b) Alta Group’s Consolidated EBITDA less any noncash
gains or losses on the sale of fixed or capital assets offset for gains from the sale of fixed or capital assets calculated (i)
at the price at which the applicable Loan Party sold the applicable asset, minus (ii) such Note Party’s initial purchase
price of such asset (for the avoidance of doubt, without reducing this clause (ii) for any depreciation or amortization thereof)
will be at least $79 million as measured for the Fiscal Year ended December 31, 2019.

 

Pursuant
to a forward purchase agreement, immediately prior to the Effective Date, Sponsor or its Affiliate will purchase $25,000,000 of
BRPM’s units at a price of $10.00 per unit, or an aggregate of 2,500,000 units, each comprised of one share of Class A common
stock (the “forward purchase shares”) and one-half of one warrant (the “forward purchase warrants”).
The forward purchases will be made regardless of whether any shares of Class A common stock are redeemed in connection with Transactions
(collectively, the “Equity Financing”).

 

In
addition to the Equity Financing, BRPM has entered into subscription agreements with institutional and accredited investors (the
“PIPE investors”), which include Affiliates of Sponsor, on December 12, 2019, pursuant to which such investors
will purchase, immediately prior to the Effective Date, an aggregate of $35,000,000 of BRPM’s shares of Class A common stock
at a price of $10.00 per share, or an aggregate of 3,500,000 shares of Class A common stock (the “PIPE Financing”),
subject to certain conditions, including the approval of the transactions contemplated herein. As an inducement to enter into
the subscription agreements, the PIPE investors that are not affiliated with Sponsor will receive an aggregate of 142,895 additional
shares of BRPM’s Class A common stock and an aggregate of 1,018,125 of BRPM’s warrants, and, upon the Effective Date,
the Sponsor will forfeit an equal number of Founder Shares to BRPM for cancellation and Sponsor or its Affiliates will transfer
an equal number of forward purchase warrants to BRPM.

 

    Schedule-15

     

    

 

On
the Effective Date, BRPM will acquire the Warrant to purchase membership interest in Alta Enterprises from Goldman Sachs Lending
Group L.P. for $29,620,110.

 

On
the Effective Date, BRPM will contribute the remaining IPO proceeds (which the amount of such proceeds will be known after the
redemption period closes) to Alta Enterprises in exchange for limited liability company interests of Alta Enterprises.

 

On
the Effective Date, BRPM will transfer cash in the aggregate amount of $2,950,000 to certain key employees of the Borrowers in
connection with the Acquisition and termination of the Alta Enterprises’s Equity Linked Incentive Plan.

 

 On
the Effective Date, BRPM will obtain credit facilities equal to an aggregate of $310 million (the “Debt Financing”)
for the purpose of financing the repayment of existing Indebtedness of Alta Holdings and its Subsidiaries, a portion of the consideration
payable under the Merger Agreement, costs and expenses incurred by the parties in connection with the Transactions and general
corporate expenditures. Such credit facilities will be comprised of a term loan facility from the Second Lien Purchasers in an
aggregate principal amount of either $155 million or $165 million and an asset-based loan revolving credit facility from the Lenders
in an aggregate principal amount of up to $300 million, of which no more than $148 million will be drawn on the Effective Date.

 

Concurrently
with and contingent upon the Effective Date, NITCO will consummate the Liftech Acquisition and Alta Construction Equipment Florida
will consummate the Flagler Acquisition. Each of the Liftech Acquisition and Flagler Acquisition are currently under non-binding
letters of intent, for an aggregate purchase price of $95 million, to be funded by the equity and Indebtedness proceeds raised
in connection with the Transactions.

 

The
Transactions will be financed and consummated in a manner consistent with the sources and uses set forth below (the “Sources
and Uses”).

 

	Sources
    and Uses ($ in millions)
	Sources	No
    Redemption	Max
    Redemption
	Proceeds
    from Trust Account	$	145	$	84
	Forward
    Purchase	 	25	 	25
	Seller
    Rollover Equity	 	76	 	76
	PIPE	 	35	 	35
	Draw
    on New Term Loan	 	155	 	165
	Draw
    on New ABL	 	140	 	148
	Total
    Sources	$	576	$	533
	 	 	 	 	 
	Uses	No
    Redemption	Max
    Redemption
	Payoff
    Existing Alta Holdings and Subsidiaries’ Indebtedness	$	295	$	295
	Cash
    Proceeds to Seller	 	43	 	43
	Seller
    Rollover Equity	 	76	 	76
	Additional
    Acquisitions	 	95	 	95
	Estimated
    Fees and Expenses	 	20	 	20
	Excess
    Cash	 	62	 	—
	Total
    Uses	$	591	$	529

 

    Schedule-16

     

    

 

B.
Riley Merger/Equity Transaction Agreements:

 

		1.	Merger Agreement

		2.	Ancillary agreements entered into in connection with the Merger Agreement, including the following
to be filed or entered into at closing of the Merger Agreement:

		a.	Third Amended and Restated Certificate of Incorporation of BRPM

		b.	Certificate of Merger to be filed with the Delaware Secretary of State

		c.	Letter of Transmittal from the Greenawalt Trust

		d.	Company Bringdown Certificate from Alta Holdings

		e.	Minimum EBITDA and Maximum Indebtedness Certificate from Alta Holdings

		f.	FIRPTA Certificate from Alta Holdings

		g.	Participant Release Agreements between Alta Holdings and each key employee receiving a cash payment
in connection with the transactions contemplated by the Merger Agreement and the termination of Alta Enterprises’s Equity
Linked Incentive Plan

		h.	Registration Rights Agreements between Alta Holdings and the Greenawalt Trust

		i.	Parent Bringdown Certificate from BRPM

		j.	Warrant Purchase Agreement between Alta Enterprises and Goldman Sachs & Co. LLC

		k.	Subscription Agreements between BRPM and certain investors

		l.	Forward Purchase Agreement between BRPM and certain of its affiliates.

 

    Schedule-17

     

    

 

SCHEDULE
6.01

EXISTING INDEBTEDNESS

 

	Lender	Credit
    Limit	Description
    of the Indebtedness/ Underlying Debt Documents  
	HYG
Financial Services, Inc. 
	Current:
        $40 Million

        Limit:
        $44 Million
	Floor
        Flan Financing Facility

         

        Dealer
Financing and Security Agreement dated December 22, 2017 by and among HYG Financial Services, Inc., Alta Industrial Equipment
Michigan, LLC, and Alta Industrial Equipment Company, L.L.C.

         

	Volvo
Commercial Finance LLC The Americas 
	Current:
        $82.5 Million

        Limit:
        $86.6 Million
	Floor
        Flan Financing Facility

         

        -      Floor Plan Financing and Security Agreement dated December 20, 2017 by and between Volvo Financial Services, a Division
        of VFS US LLC and Alta Construction Equipment Illinois, LLC

        -      Floor Plan Financing and Security Agreement dated December 15, 2009 by and between Alta Construction Equipment, LLC and Volvo
Financial Services, a Division of VFS US LLC, as amended on December 20, 2017.

         

	VFS
        US LLC	 	Equipment Lease, financed inventory

                                                                                                                                                 

                                                                                

	Terex
        Financial Services, Inc.

         

         
	Current:
        $1 Million

        Limit:
        $1.5 Million
	Floor
        Flan Financing Facility

         

        Master
        Note and Security Agreement dated May 9, 2014 by and between Terex Financial Services, Inc. and Alta Construction Equipment,
        L.L.C.

         

        Master
        Note and Security Agreement dated August 10, 2018 by and between Terex Financial Services, Inc. and Alta Construction
        Equipment Illinois, LLC

         

	De
        Lage Landen Financial Services, Inc.

         
	Current:
        $10 Million

        Limit:
        $11 Million
	Floor
        Flan Financing Facility

         

        Agreement
        for Inventory Financing dated December 7, 2017 by and between Alta Construction Equipment, L.L.C., Alta Construction Equipment
        Illinois, LLC, and De Lage Landen Financial Services, Inc.

         

 

    Schedule-18

     

    

 

	Wells
        Fargo Commercial Distribution Finance, LLC

         
	N/A
    after liquidation to PNC	Floor
        Flan Financing Facility for JCB equipment (Liquidating to PNC Equipment Finance, LLC)

         

	PNC
        Equipment Finance, LLC

         
	Current:
        $19.5 Million

        Limit:
        $20.5 Million
	Floor
        Flan Financing Facility for JCB equipment

         

	Link-Belt
Construction Equipment Company, L.P.
	Current:
    $4 Million	Extended
        payable terms from vendor for purchase of parts and equipment

         

        Equipment
        Financing, consigned goods

         

	MB Equipment Finance, LLC, MB Financial Bank, N.A., and all assignors and successors of the foregoing

                                                                                 
	Current:
    Collectively, $2,500,000 	Equipment
    on operating lease under a Master Lease Agreement
	Landoll
    Corporation	Current:
    $1,000,000	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Exxon
    Mobile	Current:
    $100,000	Extended payable terms from vendor for purchase of fuels

                                                                                 

	JLG
    Industries, Inc.	Current:
    $200,000	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Takeuchi
    Mfg. (U.S.), Ltd.	Current:
    $10 Million	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Manitou
    America, Inc.	Current:
    $700,000	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Terex
        Financial Services, Inc.

         
	Current:
    $5 Million	Equipment
    Lease
	LaSalle
        Systems Leasing, Inc.

        MB
        Financial Bank, N.A

        First
        Bank of Highland Park

         
	Current:
    $1 Million 	Equipment
    Lease
	HYG
        Financial Services, Inc.

         
	Current:
    $6 Million	Equipment
    Lease
	Hyster-Yale
        Group, Inc.

         
	Current:
    $1 Million	Financed
    Inventory
	Volvo
        Construction Equipment North America, LLC

         
	Current:
    $1 Million	Financed
    Inventory
	JCB,
        Inc.

         
	Current:
    $0.5Million	Financed
    Inventory 

 

    Schedule-19

     

    

 

	Goldman
    Sachs Specialty Lending Group, L.P.	Current:
    $71.2 Million	Note
        Purchase Agreement, dated December 27, 2017, by and among Alta Enterprises, LLC, Alta Construction Equipment Illinois,
        LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction Equipment, L.L.C., 
        Alta Industrial Equipment Company, L.L.C., the Purchasers (as defined in the Note Purchase Agreement) party thereto, and
        Goldman Sachs Specialty Lending Group, L.P., as amended by that certain Joinder and Third Amendment to Note Purchase Agreement,
        dated May 1, 2019, adding NITCO, LLC as an Issuer, and as amended by that certain Joinder to Note Purchase Agreement,
        to be entered into on or prior to the Effective Date, adding Alta Construction Equipment Florida, LLC as an Issuer.

         

        To
        be terminated on the Effective Date.

         

	C&B
    Manufacturing Inc. dba Hitchdoc	Credit
    Limit: $10,000	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Fair
    Manufacturing Inc.	Credit
    Limit: $10,000	Extended
    payable terms from vendor for purchase of parts and equipment

 

    Schedule-20

     

    

 

SCHEDULE
6.02

EXISTING LIENS

 

	Debtor	Secured
    Party(ies)	Jurisdiction	Filing
    Date and File Number
	ALTA
    ENTERPRISES, LLC	Goldman
    Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date:  12/27/2017

        Filing
        No.: #20171227000660-2

	Fair
    Manufacturing Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date:  10/3/2019

        Filing
        No.: #20191003000509-2

	ALTA
    CONSTRUCTION EQUIPMENT ILLINOIS, LLC	Takeuchi
    MFG. (U.S.), LTD	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date:  11/23/2011

        Filing
        No.: #2011165057-2

	De
    Lage Landen Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date:  12/19/2011

        Filing
        No.: #2011176993-9

	VFS
    US LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 10/11/2017

        Filing
        No: #20171011000862-9

	Goldman
    Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/27/2017

        Filing
        No.: #20171227000658-7

	MB
    Equipment Finance, LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date:  06/29/2018

        Filing
        No.: #20180629000875-8

	Terex
    Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 7/30/2018

        Filing
        No.: #20180730001010-1

	VOLVO
    CONSTRUCTION EQUIPMENT NORTH AMERICA, LLC, AND ALL ITS SUBSIDIARIES	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 9/27/2018

        Filing
        No.: #20180927000747-5

	ALTA
    HEAVY EQUIPMENT SERVICES, LLC Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/27/2017

        Filing
        No.: #20171227000662-0

 

    Schedule-21

     

    

 

	ALTA
INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	LASALLE
    SOLUTIONS, A DIVISION OF MB EQUIPMENT FINANCE, LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 11/15/2016

        Filing
        No.: #20161115000241-8

	HYG
    Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/20/2017

        Filing
        No.: #20171220000470-8

	HYG
    Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/21/2017

        Filing
        No.: #20171221000356-8

	Goldman
    Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/27/2017

        Filing
        No.: #20171227000667-5

	Hyster-Yale
    Group, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 01/12/2018

        Filing
        No.: #20180112000654-2

	HYG
    Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 03/13/2018

        Filing
        No.: #20180313000064-2

	MB
    Equipment Finance, LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 06/29/2018

        Filing
        No.: #20180629000875-8

	HYG
    Financial Services, Inc.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 12/29/2018

        Filing
        No.: #20181229000018-2

	Wells
    Fargo Commercial Distribution Finance, LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 04/16/2019

        Filing
        No.: #20190416000961-1

 

    Schedule-22

     

    

 

	ALTA CONSTRUCTION EQUIPMENT, L.L.C.	Terex Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  10/12/2009

        Filing No. #2009145134-7

	VFS US LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/15/2009

        Filing No.: #2009175268-6

	Link-Belt Construction Equipment Company, L.P., LLLP	MI	
        Initial Filing: UCC-1 Financing Statement 

        Filing Date:  10/06/2010

        Filing No.: #2010133701-9

	Link-Belt Construction Equipment Company, L.P., LLP	MI	
        Initial Filing: UCC-1 Financing Statement  

        Filing Date:  10/06/2010

        Filing No.: #2010133713-4

	TAKEUCHI MFG. (U.S.), LTD	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 11/23/2011

        Filing No.: #2011165057-2

	De Lage Landen Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/19/2011

        Filing No.: #2011176993-9

	VFS US LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/27/2012

        Filing No.: #2012179033-0

	VFS US LLC; ET AL	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  08/27/2013

        Filing No.: #2013134405-6

	JLG INDUSTRIES, INC. for itself and as a representative of certain of its affiliates	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  02/28/2014

        Filing No.: #2014029498-7

	Terex Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  05/13/2014

        Filing No.: #2014068495-8

	Volvo Construction Equipment North America, LLC, and all its subsidiaries	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/17/2015

        Filing No.: #2015174384-4

	C&B Manufacturing Inc., dba Hitchdoc	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  05/16/2016

        Filing No.: #2016068080-3

  

    Schedule-23

     

    

 

		MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  10/17/2017

        Filing No.:#20171017000719-2

	Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/27/2017

        Filing No.:#20171227000659-6

	MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  06/29/2018

        Filing No.:#2018629000875-8

	ALTA
    INDUSTRIAL EQUIPMENT COMPANY, L.L.C. HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/20/2017

        Filing No.: #20171220000455-9

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/21/2017

        Filing No.: #20171221000357-7

	GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P., AS NOTES REPRESENTATIVE**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/27/2017 Filing No.: #20171227000665-7

           

	HYSTER-YALE GROUP, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:

        01/12/2018

        Filing No.: #20180112000650-6

	MB EQUIPMENT FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  06/29/2018

        Filing No.: #20180629000875-8

	WELLS FARGO COMMERCIAL DISTRIBUTION FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  04/16/2019

        Filing No.: #20190416000971-8

 

    Schedule-24

     

    

 

	NITCO,
LLC
	WELLS
    FARGO COMMERCIAL DISTRIBUTION FINANCE, LLC	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 03/28/2019 Filing Number: #20190328000781-3

           

	HYG
    FINANCIAL SERVICES, INC.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 03/28/2019 Filing No.: #20190328000785-9

           

	JCB,
    INC.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 04/25/2019

        Filing
        No.: #20190425000585-3

	GOLDMAN
    SACHS SPECIALTY LENDING GROUP, L.P., AS NOTES REPRESENTATIVE**	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 05/01/2019

        Filing
        No.: #20190501000548-1

	LANDOLL
    CORPORATION	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 05/20/2019

        Filing
        No.: #20190520000053-3

	JLG
    INDUSTRIES, INC. FOR ITSELF AND AS A REPRESENTATIVE OF CERTAIN OF ITS AFFILIATES	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 05/31/2019

        Filing
        No.: #20190531000764-8

	HYSTER-YALE
    GROUP, INC.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 06/14/2019

        Filing
        No.: #20190614000507-7

	HYG
    FINANCIAL SERVICES, INC.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 07/11/2019

        Filing
        No.: #20190711000355-8

	HYG
    FINANCIAL SERVICES, INC.	MI	Initial
        Filing: UCC-1 Financing Statement

        Filing
        Date: 08/20/2019

        Filing
        No.: #20190820000465-1

 

    Schedule-25

     

    

 

	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC (including liens filed on Flagler assets)	Axis Capital, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 03/10/2016

        Filing No.: #20161458676

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Amur Equipment Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 02/23/2017

        Filing No.: #20171232328

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Everbank Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 01/16/2018

        Filing No.: #20180352332

	PNC Equipment Finance, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/10/2019

        Filing No.: #20192485477

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	VFS US LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/13/2004

        Filing No.: #20041043811

        [Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	GE Commercial Distribution Finance Corporation	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/27/2005

        Filing No.: #20051975417

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Red Iron Acceptance, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 3/29/2013

        Filing No.: #20131210252

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	USAmeriBank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/24/2013

        Filing No.: #20135101978

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

    Schedule-26

     

    

 

	 	Susquehanna Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/28/2014

        Filing No.: #20140787077

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Takeuchi Mfg. (U.S.), Ltd.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 7/16/2014

        Filing No.: #20142822021

        [Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	Volvo Construction Equipment North America, LLC and all its subsidiaries	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/11/2016

        Filing No.: #20160849537

        [Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	USAmeriBank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/20/2016

        Filing No.: #20163696109

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	M2 Lease Funds LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/02/2017

        Filing No.: #20170748563

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Summit Funding Group, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/21/2017

        Filing No.: #20171160834

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Amur Equipment Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/23/2017

        Filing No.: #20171232328

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

    Schedule-27

     

    

 

	 	TCF Equipment Finance, a division of TCF National Bank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/28/2017

        Filing No.: #20174265234

         

	International Equipment Solutions, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 8/09/2017

        Filing No.: #20175281503

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	TCF Equipment Finance, a division of TCF National Bank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 1/31/2018

        Filing No.: #20180723961

         

	VFS Leasing Co.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 3/09/2018

        Filing No.: #20181640396

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Toyota Industries Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 7/11/2019

        Filing No.: #20194797358

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Toyota Industries Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 10/03/2019

        Filing No.: #20196908391

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

** The Liens filed by Goldman Sachs Specialty Lending
Group, L.P., as Notes Representative will be terminated on the Effective Date.

 

    Schedule-28

     

    

 

SCHEDULE
6.04

EXISTING INVESTMENTS

 

None.

 

    Schedule-29

     

    

 

SCHEDULE
6.13(a)

FIXED CHARGE COVERAGE RATIO

See attached.

 

    Schedule-30

     

    

   

EXHIBIT
A

 

FORM
OF

ASSIGNMENT
AND ASSUMPTION

 

This
Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below
and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of
Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given
to them in the Credit Agreement identified below (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment
and Assumption as if set forth herein in full.

 

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

 

	1.	Assignor:	______________________________
	 	 	 
	2.	Assignee:	______________________________
	 		[and
    is an Affiliate/Approved Fund of [identify Lender]] 
	 	 	 
	3.	Borrowers:	B.
    Riley Principal Merger Corp. 
	 		      (to
    be renamed Alta Equipment Group Inc.) 
	 		Alta
    Equipment Holdings, Inc.  
	 		Alta
    Enterprises, LLC 
	 		Alta
    Construction Equipment Illinois, LLC 
	 		Alta
    Heavy Equipment Services, LLC 
	 		Alta
    Industrial Equipment Michigan, LLC 
	 		Alta
    Construction Equipment, L.L.C. 
	 		Alta
    Industrial Equipment Company, L.L.C. 
	 		NITCO,
    LLC 
	 		Alta
    Construction Equipment Florida, LLC 

 

    Exhibit A-1

     

    

 

	4.	Administrative
    Agent:	JPMorgan
    Chase Bank, N.A., as the administrative agent under the Credit Agreement
	 	 	 
	5.	Credit
    Agreement:	The
    Fifth Amended and Restated ABL First Lien Credit Agreement dated as of February 3, 2020 among the Borrowers listed above,
    the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the other parties thereto
	 	 	 
	6.	Assigned
    Interest:	 

  

	Facility Assigned	 	 	Aggregate Amount of

Commitment/Loans for all

Lenders	 	 	Amount of 

Commitment/Loans

 Assigned	 	 	Percentage Assigned of

Commitment/Loans	 
	 	    	 	 	$	         	 	 	$	       	 	 	 	        	%
	 	 	 	 	$		 	 	$		 	 	 		%
	 	 	 	 	$		 	 	$		 	 	 		%

 

Effective
Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.]

 

The
Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which the Assignee designates
one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the
Company, the Loan Parties and their Related Parties or their respective securities) will be made available and who may receive
such information in accordance with the Assignee’s compliance procedures and applicable laws, including federal and state
securities laws.

 

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

 

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

 

    Exhibit A-2

     

    

 

	Consented to and Accepted:	 
	 	 	 
	JPMorgan Chase Bank, N.A., as 
	Administrative Agent[, Swingline Lender] and Issuing Bank 
	 	 	 
	By:	                   	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Consented to:	 
	 	 	 
	[ISSUING BANK]	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	[SWINGLINE LENDER]	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	B. RILEY PRINCIPAL MERGER CORP., to be known as
	ALTA EQUIPMENT GROUP INC.	 
	 	 	 
	By:	 	 
	Name:
    	 	 
	Title:	 	 
	 	 	 
	ALTA EQUIPMENT HOLDINGS, INC.	 
	 	 	 
	By:	 	 
	Name:
    	 	 
	Title:	 	 
	 	 	 
	ALTA ENTERPRISES, LLC	 
	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	ALTA HEAVY EQUIPMENT SERVICES, LLC	 
	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	ALTA CONSTRUCTION EQUIPMENT, L.L.C.	 
	NITCO, LLC
	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	of each of the above, on behalf of each of the above

 

    Exhibit A-3

     

    

 

ANNEX
1 to ASSIGNMENT AND ASSUMPTION

 

STANDARD
TERMS AND CONDITIONS FOR

ASSIGNMENT
AND ASSUMPTION

 

1.
Representations and Warranties.

 

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

 

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

 

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

 

3.
General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto
and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute one instrument.

 

Acceptance
and adoption of the terms of this Assignment and Assumption by the Assignee and the Assignor by Electronic Signature (as defined
in the Credit Agreement) or delivery of an executed counterpart of a signature page of this Assignment and Assumption by any Electronic
System (as defined in the Credit Agreement) shall be effective as delivery of a manually executed counterpart of this Assignment
and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of
Michigan.

 

    Exhibit A-4

     

    

 

EXHIBIT
B

 

FORM
OF

SECOND
LIEN INTERCREDITOR AGREEMENT

 

INTERCREDITOR
AGREEMENT

 

This
Intercreditor Agreement (this “Agreement”), is dated as of February 3, 2020, and is between JPMorgan
Chase Bank, N.A., as Administrative Agent (in such capacity, with its successors and assigns, and as more specifically
defined below, the “ABL First Lien Agent”) for the ABL First Lien Secured Parties (as defined below), JPMorgan
Chase Bank, N.A., as Administrative Agent (in such capacity, with its successors and assigns, and as more specifically
defined below, the “Floor Plan First Lien Agent”) for the Floor Plan First Lien Secured Parties (as defined
below) and U.S. BANK NATIONAL ASSOCIATION, as Notes Representative (in such capacity, with its successors and assigns, and as
more specifically defined below, the “Second Lien Agent”) for the Second Lien Secured Parties (as defined below),
and acknowledged by B. RILEY PRINCIPAL MERGER CORP., to be re-named ALTA EQUIPMENT GROUP INC., a Delaware corporation, ALTA EQUIPMENT
HOLDINGS, INC., a Michigan corporation, ALTA ENTERPRISES, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT
ILLINOIS, LLC, a Michigan limited liability company, ALTA HEAVY EQUIPMENT SERVICES, LLC, a Michigan limited liability company,
ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT, L.L.C., a Michigan
limited liability company, ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C., a Michigan limited liability company, NITCO, LLC, a Michigan
limited liability company, and ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC, a Michigan limited liability company (all of the foregoing
limited liability companies and corporations, collectively, the “Borrowers”, each individually, a “Borrower”),
and all other Loan Parties (as defined below).

 

WHEREAS,
the Borrowers, the ABL First Lien Agent and certain financial institutions are parties to that certain Fifth Amended and Restated
ABL First Lien Credit Agreement of even effective date herewith (as amended, restated, supplemented or otherwise modified from
time to time in accordance herewith, the “Existing ABL First Lien Credit Agreement”), pursuant to which such
financial institutions have agreed to make loans and extend other financial accommodations to the Borrowers; and

 

WHEREAS,
the Borrowers, the Floor Plan First Lien Agent and certain financial institutions are parties to that certain Floor Plan First
Lien Credit Agreement of even effective date herewith (as amended, restated, supplemented or otherwise modified from time to time
in accordance herewith, the “Existing Floor Plan First Lien Credit Agreement”), pursuant to which such financial
institutions have agreed to make loans and extend other financial accommodations to the Borrowers; and

 

WHEREAS,
the Borrowers, the Second Lien Agent and certain purchasers are parties to that certain Note Purchase Agreement of even effective
date herewith (as amended, restated, supplemented or otherwise modified from time to time in accordance herewith, the “Existing
Second Lien Credit Agreement”), pursuant to which the Second Lien Agent and such purchasers have agreed to purchase
notes issued by the Borrowers; and

 

WHEREAS,
the Borrowers have granted to the ABL First Lien Agent for the benefit of the ABL First Lien Secured Parties liens and security
interests in the Common Collateral as security for payment and performance of the ABL First Lien Obligations; and

 

WHEREAS,
the Borrowers have granted to the Floor Plan First Lien Agent for the benefit of the Floor Plan First Lien Secured Parties liens
and security interests in the Common Collateral as security for payment and performance of the Floor Plan First Lien Obligations;
and

 

WHEREAS,
the Borrowers have granted to the Second Lien Agent for the benefit of the Second Lien Secured Parties liens and security interests
in the Common Collateral as security for payment and performance of the Second Lien Obligations;

 

    Exhibit B-1

     

    

 

WHEREAS,
parties hereto desire to set forth in this Agreement their rights and remedies with respect to the Common Collateral and other
agreements among the parties hereto.

 

NOW
THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and other good and valuable consideration,
the existence and sufficiency of which is expressly recognized by all of the parties hereto, the parties agree as follows:

 

SECTION
1. Definitions.

 

1.1.
Defined Terms. The following terms, as used herein, have the following meanings:

 

“ABL
First Lien Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement ABL
First Lien Agreement, the ABL First Lien Agent shall be the Person identified as such in such Agreement.

 

“ABL
First Lien Credit Agreement” means the collective reference to (a) the Existing ABL First Lien Credit Agreement, and
(b) any revolving credit agreement subject to a borrowing base or similar agreement or instrument complying with the terms of
this Agreement and evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred
to extend, replace, refinance or refund in whole or in part the indebtedness and other obligations outstanding under the Existing
ABL First Lien Credit Agreement, or any other agreement or instrument referred to in this clause (b) (a “Replacement
ABL First Lien Credit Agreement”). Any reference to the ABL First Lien Credit Agreement hereunder shall be deemed a
reference to any ABL First Lien Credit Agreement then extant.

 

“ABL
First Lien Guarantee” means any guarantee by any Loan Party of any or all of the ABL First Lien Obligations.

 

“ABL
First Lien Obligations” means (a) all principal of and interest (including without limitation any Post-Petition Amounts)
and premium (if any) on all loans made pursuant to the ABL First Lien Credit Agreement or any DIP Financing by the ABL First Lien
Secured Parties to the extent such DIP Financing was made in compliance with the conditions set forth in Section 6.3, (b) all
reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Amounts) with respect
to any letters of credit or similar instruments issued pursuant to the ABL First Lien Credit Agreement, (c) all Swap Obligations,
(d) all Banking Services Obligations and (e) all guarantee obligations, indemnities, fees, expenses and other amounts payable
from time to time pursuant to the ABL First Lien Documents, in each case whether or not allowed or allowable in an Insolvency
Proceeding. To the extent any payment with respect to any ABL First Lien Obligation (whether by or on behalf of any Loan Party,
as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference
in any respect, set aside or required to be paid to a debtor in possession, receiver or similar Person, then the obligation or
part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the
ABL First Lien Secured Parties, the Floor Plan First Lien Secured Parties and the Second Lien Secured Parties, be deemed to be
reinstated and outstanding as if such payment had not occurred from and after such date of reinstatement.

 

“ABL
First Lien Secured Parties” means the ABL First Lien Agent, the "Lenders" party from time to time to the ABL
First Lien Credit Agreement, and any other holders of the ABL First Lien Obligations.

 

“ABL
First Lien Security Documents” means the “Collateral Documents” as defined in the ABL First Lien Credit
Agreement, and any other documents that are designated under the ABL First Lien Credit Agreement as “First Lien Security
Documents” for purposes of this Agreement.

 

    Exhibit B-2

     

    

 

“Affiliate”
shall mean, with respect to a specified Person, any other Person that directly or indirectly through one or more intermediaries
Controls, is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability
to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto.

 

“Banking
Services” means each and any of the following bank services provided to any Loan Party by any First Lien Secured Party
(or any of its Affiliates): (a) credit cards for commercial customers (including, without limitation, “commercial credit
cards” and purchasing cards), (b) stored value cards, (c) merchant processing services, and (d) treasury management services
(including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate
depository network services).

 

“Banking
Services Obligations” means, with respect to any Loan Party, any and all obligations of any Loan Party, whether absolute
or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor) in connection with Banking Services.

 

“Bankruptcy
Code” means the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended from time to time.

 

“Borrower”
and “Borrowers” have the meanings set forth in the introductory paragraph hereof.

 

“Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law to remain closed.

 

“Collateral
Agents” means the ABL First Lien Agent, the Floor Plan First Lien Agent and the Second Lien Agent.

 

“Common
Collateral” means all assets that are both First Lien Collateral and Second Lien Collateral.

 

“DIP
Conditions” means (a) the maximum aggregate principal amount of the applicable DIP Financing extended by First Lien
Secured Parties, or consented or not objected to by the requisite First Lien Secured Parties, when taken together with the aggregate
principal amount of outstanding pre-petition First Lien Obligations that will not be repaid by such DIP Financing (but excluding
the amount of any "carve-out" for professional fees and expenses) does not exceed the Maximum First Lien Principal Amount,
(b) the Liens securing the First Lien Obligations are subordinated to or pari passu with such DIP Financing, (c) the Second Lien
Secured Parties retain a Lien on the Common Collateral (including proceeds thereof arising after the commencement of such Insolvency
Proceeding) with the same priority as existed prior to the commencement of such Insolvency Proceeding, except to the extent of
any requisite subordination in accordance with Section 6.3(c), (d) such DIP Financing does not compel any Loan Party to seek confirmation
of a specific plan of reorganization for which all or substantially all of the material terms are set forth in the documentation
relating to such DIP Financing, (e) such DIP Financing does not expressly require the sale, liquidation or disposition of all
or any substantial part of the Common Collateral prior to a default under the DIP Financing, (f) the terms of such DIP Financing
(including interest rate, fees and other terms) are commercially reasonable under the circumstances, and (g) such DIP Financing
is otherwise subject to the terms of this Agreement.

 

“DIP
Financing” has the meaning set forth in Section 6.3.

 

    Exhibit B-3

     

    

 

“Enforcement
Action” means, with respect to the First Lien Obligations or the Second Lien Obligations, as applicable, any (a) judicial
or non-judicial foreclosure proceeding, the exercise of any power of sale, the taking of a deed, assignment, bill of sale or other
conveyance in lieu of foreclosure, the obtaining of a receiver or the taking of any other enforcement action against the Common
Collateral, or (b) exercise of any right or remedy available under the First Lien Documents or the Second Lien Documents, as applicable,
at law, in equity or otherwise to enforce, foreclose upon, take possession of or sell any Common Collateral.

 

“Excess
ABL First Lien Obligations” means the aggregate principal amount of the ABL First Lien Obligations outstanding under
the ABL First Lien Documents (excluding any outstanding Banking Services Obligations and Swap Obligations) that are in excess
of the Maximum ABL First Lien Principal Amount, and any accrued interest and recurring commitment and other similar fees to the
extent, but only to the extent, attributable to such excess.

 

“Excess
First Lien Obligations” means the aggregate principal amount of the Excess ABL First Lien Obligations plus the aggregate
principal amount of the Excess Floor Plan First Lien Obligations

 

“Excess
Floor Plan First Lien Obligations” means the aggregate principal amount of the Floor Plan First Lien Obligations outstanding
under the Floor Plan First Lien Documents (excluding any outstanding Banking Services Obligations and Swap Obligations) that are
in excess of the Maximum Floor Plan First Lien Principal Amount, and any accrued interest and recurring commitment and other similar
fees to the extent, but only to the extent, attributable to such excess.

 

“Excess
Second Lien Obligations” means the aggregate principal amount of the Second Lien Obligations outstanding under the Second
Lien Documents that is in excess of the Maximum Second Lien Principal Amount, and any accrued interest and recurring commitment
and other similar fees to the extent, but only to the extent, attributable to such excess.

 

“Existing
ABL First Lien Credit Agreement” has the meaning set forth in the first WHEREAS clause of this Agreement.

 

“Existing
Floor Plan First Lien Credit Agreement” has the meaning set forth in the second WHEREAS clause of this Agreement.

 

“Existing
Second Lien Credit Agreement” has the meaning set forth in the third WHEREAS clause of this Agreement.

 

“First
Lien Agents” means the ABL First Lien Agent and the Floor Plan First Lien Agent.

 

“First
Lien Credit Agreements” means the ABL First Lien Credit Agreement and the Floor Plan First Lien Credit Agreement.

 

"First
Lien Collateral” means all assets, whether now owned or hereafter acquired by any Borrower or any other Loan Party,
in which a Lien is granted or purported to be granted at any time to any First Lien Secured Party as security for any First Lien
Obligation.

 

“First
Lien Default” means any "Default" under and as defined in any First Lien Credit Agreement.

 

“First
Lien Documents” means each First Lien Credit Agreement, each First Lien Security Document, each First Lien Guarantee,
this Agreement, each other “Loan Document” as defined in each First Lien Credit Agreement as in effect on the date
hereof, respectively, and the First Lien Intercreditor Agreement, in each case, as the same may be amended, supplemented, refinanced,
or otherwise modified from time to time, in accordance with terms hereof.

 

    Exhibit B-4

     

    

 

“First
Lien Guarantees” means the ABL First Lien Guarantees and the Floor Plan First Lien Guarantees.

 

“First
Lien Intercreditor Agreement” is defined in Section 10.3.

 

“First
Lien Obligations” means the ABL First Lien Obligations and the Floor Plan First Lien Obligations.

 

“First
Lien Obligations Payment Date” means the first date on which (a) the First Lien Obligations (other than those that constitute
Unasserted Contingent Obligations, and other than Excess First Lien Obligations) have been indefeasibly paid in cash in full (or
cash collateralized or defeased in accordance with the respective terms of the First Lien Documents), (b) all commitments to extend
credit under the First Lien Documents have been terminated, and (c) there are no outstanding letters of credit or similar instruments
issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the respective
terms of the First Lien Documents); provided, however, that for purposes of this definition, the amount to have
been paid pursuant to clause (a) above and the amount required to be cash collateralized or defeased pursuant to clause (c) above
shall not include such amounts to the extent constituting Excess First Lien Obligations.

 

“First
Lien Representative” means, at any time, the First Lien Agent designated under the First Lien Intercreditor Agreement
as the “First Lien Representative” at such time. On the date hereof, the First Lien Representative is the ABL First
Lien Agent, and for purposes of this Agreement shall remain the ABL First Lien Agent until the Second Lien Agent receives a written
notification signed by both First Lien Agents designating a different First Lien Representative.

 

“First
Lien Secured Parties” means the First Lien Agents, the First Lien Representative, the "Lenders" party from
time to time to any of the First Lien Credit Agreements, respectively, and any other holders of any of the First Lien Obligations.

 

“First
Lien Security Documents” means the ABL First Lien Security Documents and the Floor Plan First Lien Security Documents.

 

“Floor
Plan First Lien Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement
Floor Plan First Lien Agreement, the Floor Plan First Lien Agent shall be the Person identified as such in such Agreement.

 

“Floor
Plan First Lien Credit Agreement” means the collective reference to (a) the Existing Floor Plan First Lien Credit Agreement,
and (b) any floor plan or asset based (or combination thereof) credit agreement or similar agreement or instrument complying with
the terms of this Agreement and evidencing or governing the terms of any indebtedness or other financial accommodation that has
been incurred to extend, replace, refinance or refund in whole or in part the indebtedness and other obligations outstanding under
the Existing Floor Plan First Lien Credit Agreement, or any other agreement or instrument referred to in this clause (b) (a “Replacement
Floor Plan First Lien Credit Agreement”). Any reference to the Floor Plan First Lien Credit Agreement hereunder shall
be deemed a reference to any Floor Plan First Lien Credit Agreement then extant.

 

“Floor
Plan First Lien Guarantee” means any guarantee by any Loan Party of any or all of the Floor Plan First Lien Obligations.

 

    Exhibit B-5

     

    

 

“Floor
Plan First Lien Obligations” means (a) all principal of and interest (including without limitation any Post-Petition
Amounts) and premium (if any) on all loans made pursuant to the Floor Plan First Lien Credit Agreement or any DIP Financing by
the Floor Plan First Lien Secured Parties to the extent such DIP Financing was made in compliance with the conditions set forth
in Section 6.3, (b) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition
Amounts) with respect to any letters of credit or similar instruments issued pursuant to the Floor Plan First Lien Credit Agreement,
(c) all Swap Obligations, (d) all Banking Services Obligations and (e) all guarantee obligations, indemnities, fees, expenses
and other amounts payable from time to time pursuant to the Floor Plan First Lien Documents, in each case whether or not allowed
or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Floor Plan First Lien Obligation (whether
by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be
a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, receiver or
similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement
and the rights and obligations of the Floor Plan First Lien Secured Parties, the ABL First Lien Secured Parties and the Second
Lien Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred from and after such date
of reinstatement.

 

“Floor
Plan First Lien Secured Parties” means the Floor Plan First Lien Agent, the "Lenders" party from time to time
to the Floor Plan First Lien Credit Agreement, and any other holders of the Floor Plan First Lien Obligations.

 

“Floor
Plan First Lien Security Documents” means the “Collateral Documents” as defined in the Floor Plan First
Lien Credit Agreement, and any other documents that are designated under the Floor Plan First Lien Credit Agreement as “First
Lien Security Documents” for purposes of this Agreement.

 

“Insolvency
Proceeding” means any proceeding in respect of bankruptcy, insolvency, winding up, receivership, dissolution or assignment
for the benefit of creditors, in each of the foregoing events whether under the Bankruptcy Code or any similar federal, state
or foreign bankruptcy, insolvency, reorganization, receivership or similar law.

 

“Letter
of Credit Cash Collateral” has the meaning set forth in Section 4.6(c).

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, deed to secure debt, lien, pledge, hypothecation, collateral
assignment, assignation, debenture, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor
or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially
the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option,
call or similar right of a third party with respect to such securities.

 

“Loan
Party” means each Borrower and each subsidiary or other affiliate of any Borrower that hereafter becomes a party to
any First Lien Document or Second Lien Document. All references in this Agreement to any Loan Party shall include such Loan Party
as a debtor-in-possession and any receiver or trustee for such Loan Party in any Insolvency Proceeding.

 

“Maximum
ABL First Lien Principal Amount” means the amount equal to the sum of (a) 120% of the maximum amount (which maximum
amount is $300,000,000) of the credit facilities under the Existing ABL First Lien Credit Agreement on the Effective Date (plus
increases in principal after the Effective Date resulting solely from payments in kind of interest, but only to the extent such
payments are permitted by the terms hereof), fees, indemnities, expenses, charges and other amounts thereon, plus (b) 120%
of the principal amount of any committed increase of the credit facilities under the ABL First Lien Credit Agreement after the
date hereof in an aggregate principal amount not to exceed $30,000,000 pursuant to Section 2.21 of the ABL First Lien Credit Agreement
(as in effect on the Effective Date), including the satisfaction of the conditions to such increase as set forth therein as of
Effective Date, which conditions shall not be amended or waived, and in accordance with the terms and conditions of the ABL First
Lien Credit Agreement (as in effect on the Effective Date), less (c) the aggregate amount of all payments and prepayments
of principal of any term loans, if any, under the ABL First Lien Credit Agreements and the aggregate amount of permanent reductions
of revolving credit commitments under the ABL First Lien Credit Agreement. The amount of Banking Services Obligations and the
amount of Swap Obligations included in ABL First Lien Obligations shall not be subject to a limitation.

 

    Exhibit B-6

     

    

 

“Maximum
First Lien Principal Amount” means the Maximum ABL First Lien Principal Amount plus the Maximum Floor Plan First Lien
Principal Amount.

 

“Maximum
Floor Plan First Lien Principal Amount” means the amount equal to (a) $50,000,000, less (b) the aggregate
amount of all payments and prepayments of principal of any term loans, if any, under the Floor Plan First Lien Credit Agreements
and the aggregate amount of permanent reductions of revolving credit commitments under the Floor Plan First Lien Credit Agreement.
The amount of Banking Services Obligations and the amount of Swap Obligations included in Floor Plan First Lien Obligations shall
not be subject to a limitation.

 

“Maximum
Second Lien Principal Amount” means the amount equal to (a) 120% of the principal amount of Second Lien Obligations
funded and outstanding on the date hereof (plus increases in principal after the date hereof resulting solely from payments in
kind of interest, but only to the extent such payments are permitted by the terms hereof), fees, indemnities, expenses, charges
and other amounts thereon, less (b) the aggregate amount of all payments and prepayments of principal of any Loans (as
defined in the Second Lien Credit Agreement as of the date hereof).

 

“Permitted
Actions” means: (a) file a proof of claim or statement of interest, vote on a plan of reorganization (including a vote
to accept or reject a plan of partial or complete liquidation, reorganization, arrangement composition, or extension), and make
other filings, arguments, and motions, with respect to the Second Lien Obligations and the Common Collateral in any Insolvency
Proceeding commenced by or against any Loan Party; (b) take action to create, perfect, preserve, or protect (but not enforce)
any Lien on the Common Collateral securing the Second Lien Obligations, so long as such actions are (i) not adverse to the priority
status in accordance with this Agreement of Liens on the Common Collateral securing any of the First Lien Obligations or the First
Lien Secured Parties' rights to exercise remedies and (ii) otherwise not in violation of this Agreement; (c) file necessary pleadings
in opposition to a claim objecting to or otherwise seeking the disallowance of a Second Lien Obligation or a Lien securing the
Second Lien Obligations; (d) join (but not exercise any control over) a judicial foreclosure or Lien enforcement proceeding with
respect to the Common Collateral initiated by either First Lien Agent, to the extent that such action could not reasonably be
expected to interfere materially with such Enforcement Action, but no Second Lien Secured Party may receive any proceeds thereof
unless expressly permitted herein; (e) bid for or purchase Common Collateral at any public, private, or judicial foreclosure upon
such Common Collateral, or any sale of Common Collateral during an Insolvency Proceeding; provided that such bid may not include
a “credit bid” in respect of any Second Lien Obligations unless the net cash proceeds of such bid are otherwise sufficient
to cause the First Lien Obligations Payment Date and are applied to cause the First Lien Obligations Payment Date, in each case,
at the closing of such bid; (f) accelerate any Second Lien Obligations in accordance with the provisions of the Second Lien Documents;
(g) seek adequate protection during an Insolvency Proceeding to the extent expressly permitted by Section 6; (h) inspect or appraise
the Common Collateral (and to engage or retain investment bankers or appraisers for the sole purposes of appraising or valuing
the Common Collateral), or to receive information or reports concerning the Common Collateral, in each case pursuant to the terms
of the Second Lien Documents and applicable law; (i) take any action to the extent necessary to prevent the running of any applicable
statute of limitation or similar restriction on claims, or to assert a compulsory crossclaim or counterclaim against any Loan
Party; (j) object to the proposed retention of Common Collateral by any First Lien Secured Party pursuant to Section 9-620 of
the Uniform Commercial Code; (k) take any action to seek and obtain specific performance or injunctive relief to compel a Loan
Party to comply with (or not violate or breach) an obligation under the Second Lien Documents, other than an obligation to pay
money; (l) enforce the terms of any subordination agreement with respect to any indebtedness subordinated to the Second Lien Obligations
so long as any proceeds are applied in accordance with Section 5.1; and (m) exercise any rights and remedies that could be exercised
by an unsecured creditor in accordance with the terms of the Second Lien Documents and applicable law; in each case (i.e.; with
respect to any of the actions described in this paragraph) to the extent not expressly prohibited by, or contrary to, the terms
of this Agreement. Except as expressly provided for herein, no provision hereof shall be construed to prohibit the payment by
the Borrowers of regularly scheduled principal, interest, fees and other amounts, including but not limited to prepayments and
repayments of any loans and any premiums or make-whole amounts owed in respect of the Second Lien Obligations so long as the receipt
thereof is not in violation of Section 5.1.

 

    Exhibit B-7

     

    

 

“Person”
means any person, individual, sole proprietorship, partnership, joint venture, corporation, limited liability company, unincorporated
organization, association, institution, entity, party, including any government and any political subdivision, agency or instrumentality
thereof.

 

“Post-Petition
Amounts” means any interest, fees, costs, expenses or other charges that accrues after the commencement of any Insolvency
Proceeding (or would accrue but for the commencement of an Insolvency Proceeding), whether or not allowed or allowable in any
such Insolvency Proceeding.

 

“Purchase”
has the meaning set forth in Section 4.6(b).

 

“Purchase
Notice” has the meaning set forth in Section 4.6(a).

 

“Purchase
Option Event” means (a) an acceleration of the First Lien Obligations in accordance with the applicable First Lien Credit
Agreement, (b) the occurrence and continuation of any First Lien Default under the applicable First Lien Credit Agreement, that
remains uncured or unwaived for at least thirty (30) consecutive days after the applicable First Lien Secured Party has knowledge
thereof and the requisite First Lien Secured Parties have not agreed to forbear from the exercise of remedies, (c) following the
occurrence of an Event of Default under the applicable First Lien Credit Agreement, an election by the applicable First Lien Secured
Parties to cease making additional loans or advances under such First Lien Credit Agreement (in the full amount requested by the
Loan Parties to the extent such amount would be otherwise permitted and available under the applicable First Lien Credit Agreements)
when such loans or advances under such First Lien Credit Agreement would not cause the principal amount of the applicable First
Lien Obligations to exceed the applicable Maximum First Lien Principal Amount and such election continues for ten (10) consecutive
days, (d) the initiation of any secured creditor remedies by the applicable First Lien Agent upon all or a material portion of
the Common Collateral, including putting account debtors on notice to make payment to, or at the direction of, such First Lien
Agent, (e) the commencement of an Insolvency Proceeding, (f) a Second Lien Payment Default, or (g) the occurrence and continuation
of any other Second Lien Default that remains uncured or unwaived for at least sixty (60) consecutive days.

 

“Purchase
Price” has the meaning set forth in Section 4.6(c).

 

“Purchasing
Parties” has the meaning set forth in Section 4.6(b).

 

“Recovery”
has the meaning set forth in Section 6.6.

 

“Replacement
ABL First Lien Agreement” has the meaning set forth in the definition of “ABL First Lien Credit Agreement”.

 

“Replacement
Floor Plan First Lien Agreement” has the meaning set forth in the definition of “Floor Plan First Lien Credit
Agreement”.

 

    Exhibit B-8

     

    

 

“Replacement
Second Lien Agreement” has the meaning set forth in the definition of “Second Lien Credit Agreement.”

 

"Retained
Interest" has the meaning set forth in Section 4.6(g).

 

“Secured
Parties” means the First Lien Secured Parties and the Second Lien Secured Parties.

 

“Second
Lien Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement Second Lien
Credit Agreement, the Second Lien Agent shall be the Person identified as such in such Agreement.

 

“Second
Lien Collateral” means all assets, whether now owned or hereafter acquired by any Borrower or any other Loan Party,
in which a Lien is granted or purported to be granted to any Second Lien Secured Party as security for any Second Lien Obligation.

 

“Second
Lien Credit Agreement” means the collective reference to (a) the Existing Second Lien Credit Agreement, and (b) any
credit agreement, loan agreement, note agreement, promissory note, indenture, or other agreement or instrument complying with
the terms of this Agreement and evidencing or governing the terms of any indebtedness or other financial accommodation that has
been incurred to extend, replace, refinance or refund in whole or in part the indebtedness and other obligations outstanding under
the Existing Second Lien Agreement or any other agreement or instrument referred to in this clause (b) (a “Replacement
Second Lien Credit Agreement”). Any reference to the Second Lien Credit Agreement hereunder shall be deemed a reference
to any Second Lien Credit Agreement then extant.

 

“Second
Lien Default” means any “Default” under and as defined in the Second Lien Documents.

 

“Second
Lien Documents” means the Second Lien Credit Agreement, each Second Lien Security Document, each Second Lien Guarantee
and each other “Loan Document” as defined in the Second Lien Credit Agreement as in effect on the date hereof, in
each case, as the same may be amended, supplemented, refinanced, or otherwise modified from time to time, in accordance with terms
hereof.

 

“Second
Lien Guarantee” means any guarantee by any Loan Party of any or all of the Second Lien Obligations.

 

“Second
Lien Obligations” means all principal of and interest (including without limitation any Post-Petition Amounts) and premium
(if any) on all indebtedness under the Second Lien Credit Agreement and (b) all guarantee obligations, indemnities, fees,
premiums, make-whole amounts, expenses and other amounts payable from time to time pursuant to the Second Lien Documents, in each
case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Lien
Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise)
is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession,
any First Lien Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied
shall, for the purposes of this Agreement and the rights and obligations of the First Lien Secured Parties and the Second Lien
Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred from and after such date of reinstatement.

 

"Second
Lien Payment Default" means a Second Lien Default under Section 8.01(a) of the Second Lien Credit Agreement as in effect
on the date hereof.

 

“Second
Lien Secured Parties” means the Second Lien Agent, the “Purchasers” from time to time party to the Second
Lien Credit Agreement, and all other holders of Second Lien Obligations.

 

    Exhibit B-9

     

    

 

“Second
Lien Security Documents” means the “Collateral Documents” as defined in the Second Lien Credit Agreement
and any documents that are designated under the Second Lien Credit Agreement as “Second Lien Security Documents” for
purposes of this Agreement.

 

“Second
Lien Default Notice” means written notice of a Second Lien Default from the Second Lien Agent to each First Lien Agent.

 

“Standstill
Period” means the period commencing on the date of a Second Lien Default and ending upon the date which is the earlier
of (a) 180 days after each First Lien Agent has received a Second Lien Default Notice with respect to such Second Lien Default,
or (b) the date on which the First Lien Obligations Payment Date has occurred.

 

“Swap
Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates or pricing risk or any similar transaction or any combination
of the foregoing transactions, which includes agreements to effectively cap, collar or exchange interest rates (from floating
to fixed rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or
investment of any Loan Party.

 

“Swap
Obligations” means, with respect to any Loan Party, any obligations of such Loan Party owed to any First Lien Secured
Party (or any of its Affiliates) whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired
(including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements
permitted hereunder, and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement
transaction.

 

“Unasserted
Contingent Obligations” means, at any time, First Lien Obligations for taxes, costs, indemnifications, reimbursements,
damages and other liabilities (excluding (a) the principal of, and interest and premium (if any) on, and fees and expenses relating
to, any First Lien Obligation and (b) contingent reimbursement obligations in respect of amounts that may be drawn under outstanding
letters of credit) in respect of which no assertion of liability (whether oral or written) and no claim or demand for payment
(whether oral or written) has been made (and, in the case of First Lien Obligations for indemnification, no notice for indemnification
has been issued by the indemnitee) at such time.

 

“Uniform
Commercial Code” means the Uniform Commercial Code as in effect from time to time in the applicable jurisdiction.

 

1.2.
Amended Agreements. All references in this Agreement to agreements or other contractual obligations shall, unless otherwise
specified, be deemed to refer to such agreements or contractual obligations as amended, supplemented, restated, refinanced or
otherwise modified from time to time to the extent permitted hereby.

 

1.3.
Rules of Construction. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The
words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented, refinanced
or otherwise modified (subject to any restrictions on such amendments, supplements, refinancings or modifications set forth herein),
(b) any reference herein to any Person shall be construed to include such Person's successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules
shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset”
and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

 

    Exhibit B-10

     

    

 

SECTION
2. [Reserved].

 

SECTION
3. Lien Priorities.

 

3.1.
Subordination of Liens.

 

(a)
Any and all Liens now existing or hereafter created or arising in favor of any Second Lien Secured Party securing the Second Lien
Obligations, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise are expressly junior
in priority, operation and effect to any and all Liens now existing or hereafter created or arising in favor of the First Lien
Secured Parties securing any of the First Lien Obligations (other than Excess First Lien Obligations), notwithstanding (i) anything
to the contrary contained in any agreement or filing to which any Second Lien Secured Party may now or hereafter be a party, and
regardless of the time, order or method of grant, attachment, recording or perfection of any financing statements or other security
interests, assignments, pledges, deeds, mortgages and other liens, charges or encumbrances or any defect or deficiency or alleged
defect or deficiency in any of the foregoing, (ii) any provision of the Uniform Commercial Code or any applicable law or any First
Lien Document or Second Lien Document or any other circumstance whatsoever and (iii) the fact that any such Liens in favor of
any First Lien Secured Party securing any such First Lien Obligations are (x) subordinated to any Lien securing any obligation
of any Loan Party other than the Second Lien Obligations pursuant to a final-non appealable order of a court of competent jurisdiction
or (y) otherwise subordinated, voided, avoided, invalidated or lapsed.

 

(b)
No First Lien Secured Party or Second Lien Secured Party shall (i) object to or contest, or support any other Person in contesting
or objecting to, at any hearing or in any proceeding (including without limitation, any Insolvency Proceeding) the validity, perfection,
priority or enforceability of any security interest in the Common Collateral granted to the other or (ii) demand, request, plead
or otherwise assert or claim the benefit of any marshalling, appraisal, valuation or similar right which it may have in respect
of such Common Collateral or the Liens on such Common Collateral, except to the extent that such rights are expressly granted
in this Agreement. Notwithstanding any failure by any First Lien Secured Party or Second Lien Secured Party to perfect its security
interests in the Common Collateral or any avoidance, invalidation or subordination by any court of competent jurisdiction of the
security interests in the Common Collateral granted to the First Lien Secured Parties or the Second Lien Secured Parties, the
priority and rights as between the First Lien Secured Parties and the Second Lien Secured Parties with respect to the Common Collateral
shall be as set forth herein.

 

(c)
All Liens securing Excess First Lien Obligations will be senior in all respects and prior to any Lien on the Collateral securing
any Excess Second Lien Obligations and all Liens securing any Excess Second Lien Obligations will be junior and subordinate in
all respects to any Lien securing Excess First Lien Obligations.

 

3.2.
[Reserved]

 

3.3.
Legend.

 

(a)
Until the termination of this Agreement, the Second Lien Secured Parties will cause to be clearly, conspicuously and prominently
inserted on the face of any Second Lien Security Agreement the following legend (or a substantially similar legend):

 

“The
liens and security interests on the property described herein are junior and subordinate in the manner and to the extent set forth
in that certain Intercreditor Agreement dated as of February [__], 2020 among JPMorgan Chase Bank, N.A., as ABL First Lien Agent,
JPMorgan Chase Bank, N.A., as Floor Plan First Lien Agent and U.S. Bank National Association,
as Second Lien Agent, and acknowledged by the Loan Parties referred to therein, as amended from time to time.”

 

    Exhibit B-11

     

    

 

(b)
Each Collateral Agent hereby acknowledges that, to the extent that it holds, or a third party holds on its behalf, physical possession
of or “control” (as defined in the Uniform Commercial Code) over Common Collateral pursuant to its applicable Security
Documents, such possession or control is also for the benefit of each other Collateral Agent and the other Secured Parties solely
to the extent required to perfect their security interest in such Common Collateral. Nothing in the preceding sentence shall be
construed to impose any duty on any Collateral Agent (or any third party acting on its behalf) with respect to such Common Collateral
or provide any Collateral Agent or any other Secured Party with any rights with respect to such Common Collateral beyond those
specified in this Agreement and the applicable Security Documents; provided that (i) prior to the occurrence of the First
Lien Obligations Payment Date, the Second Lien Agent shall deliver to the ABL First Lien Agent, at the Borrowers’ sole cost
and expense, the Common Collateral in its possession or control together with any necessary endorsements to the extent required
by the First Lien Documents and (ii) subsequent to the occurrence of the First Lien Obligations Payment Date, the First Lien Agents
shall (x) deliver to the Second Lien Agent, at the Borrowers’ sole cost and expense, the Common Collateral in its possession
or control together with any necessary endorsements to the extent required by the Second Lien Documents or (y) direct and deliver
such Common Collateral as a court of competent jurisdiction otherwise directs; and provided, further, that the provisions
of this Agreement are intended solely to govern the respective Lien priorities as between the First Lien Secured Parties and the
Second Lien Secured Parties and shall not impose on the First Lien Secured Parties any obligations in respect of the disposition
of any Common Collateral (or any proceeds thereof) that would conflict with prior perfected Liens or any claims thereon in favor
of any other Person that is not a Secured Party.

 

3.4.
No New Liens. So long as the First Lien Obligations Payment Date has not occurred, the parties hereto agree that there
shall be no Lien, and no Loan Party shall have any right to create any Lien, on any assets of any Loan Party securing any Second
Lien Obligation or First Lien Obligation, as applicable, if these same assets are not subject to, and do not become subject to,
Liens securing the First Lien Obligations or a Lien securing the Second Lien Obligations, as applicable (unless each First Lien
Agent, or Second Lien Agent, as applicable, shall have declined in writing to receive a Lien on such asset). To the extent that
the foregoing provisions are not complied with for any reason (without limiting any other rights and remedies available to the
First Lien Secured Parties or the Second Lien Secured Parties, as applicable, against the Loan Parties) and to the extent as a
result thereof such assets are not included in First Lien Collateral or Second Lien Collateral, as the case may be, each of the
First Lien Secured Parties and the Second Lien Secured Parties agrees that any amounts received by or distributed to any such
party pursuant to or as a result of Liens granted on such assets in contravention of this Section 3.4 shall be subject to Section
5.1 (and solely for such purpose, each of the First Lien Secured Parties and the Second Lien Secured Parties shall be deemed to
have a valid and perfected Lien on any such assets, and as such, such assets shall constitute Common Collateral for such purpose).

 

SECTION
4. Enforcement Rights.

 

4.1.
Exclusive Enforcement Regarding Common Collateral. Until the First Lien Obligations Payment Date has occurred, whether
or not an Insolvency Proceeding has been commenced by or against any Loan Party, the First Lien Representative on behalf of the
First Lien Secured Parties, after giving the Second Lien Agent at least 10 Business Days' prior written notice of their intent
to take an Enforcement Action (except to the extent, and only to the extent, that the First Lien Representative reasonably believes
that such Enforcement Action is immediately required in order to prevent any material loss or material decrease in value of any
Common Collateral, in which event, the First Lien Representative shall provide the Second Lien Agent with notice of the occurrence
of such Enforcement Action as soon as reasonably practicable), shall have the exclusive right to take and continue any Enforcement
Action (including the right to credit bid their debt) with respect to the Common Collateral, without any consultation with, consent
or involvement of or interference by any Second Lien Secured Party, but subject to the provisos set forth in Sections 4.2 and
6.2. Upon the occurrence and during the continuance of a First Lien Default, the First Lien Representative, the First Lien Agents
and the other First Lien Secured Parties may take and continue any Enforcement Action with respect to the First Lien Obligations
and the Common Collateral in such order and manner as they may determine in their sole discretion in accordance with the terms
and conditions of the First Lien Documents and applicable law.

 

    Exhibit B-12

     

    

 

4.2.
Standstill. The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that, until the
First Lien Obligations Payment Date has occurred, but subject to the provisos at the end of this Section 4.2 and Section 6.2,
without the prior written consent of the First Lien Agents:

 

(a)
they will not take or cause to be taken any Enforcement Action;

 

(b)
they will not take or cause to be taken any action, the purpose or effect of which is to make any Lien in respect of any Second
Lien Obligation pari passu with or senior to, or to give any Second Lien Secured Party any preference or priority relative to,
the Liens with respect to the First Lien Obligations (other than Excess First Lien Obligations) or the First Lien Secured Parties
with respect to any of the Common Collateral;

 

(c)
they will not contest, oppose, object to, interfere with, hinder or delay, in any manner, whether by judicial proceedings (including
without limitation the filing of an Insolvency Proceeding) or otherwise, any foreclosure, sale, lease, exchange, transfer or other
disposition of the Common Collateral by any First Lien Secured Party or any other Enforcement Action taken (or any forbearance
from taking any Enforcement Action) by or on behalf of any First Lien Secured Party, in each case in accordance with this Agreement
and applicable law;

 

(d)
they have no right to (i) direct either First Lien Agent or any other First Lien Secured Party to exercise any right, remedy or
power with respect to the Common Collateral or pursuant to the First Lien Security Documents (or, to the extent they may have
any such right described in this clause (d)(i), whether as a junior lien creditor or otherwise, they hereby irrevocably waive
such right) or (ii) except as expressly permitted in this Agreement, consent or object to the exercise by either First Lien Agent
or any First Lien Secured Party of any right, remedy or power with respect to the Common Collateral pursuant to the First Lien
Security Documents or to the timing or manner in which any such right is exercised or not exercised;

 

(e)
they will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim
against any First Lien Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise,
with respect to, and no First Lien Secured Party shall be liable for, any action taken or omitted to be taken by any First Lien
Secured Party with respect to, the Common Collateral or pursuant to the applicable First Lien Documents in compliance with the
terms and conditions of this Agreement; and

 

    Exhibit B-13

     

    

 

(f)
they will not seek, and hereby waive any right, to have the Common Collateral or any part thereof marshaled upon any foreclosure
or other disposition of the Common Collateral;

 

provided
that, notwithstanding the foregoing and so long as no Standstill Period is in effect, any Second Lien Secured Party may exercise
and continue to pursue any Enforcement Actions under the Second Lien Documents or applicable law following the occurrence of and
during the continuation of a Second Lien Default; provided, further, however, that, notwithstanding the foregoing,
in no event shall any Second Lien Secured Party exercise any Enforcement Actions if, notwithstanding the expiration of the Standstill
Period, any First Lien Secured Party shall have commenced (prior to the expiration of the Standstill Period) and be diligently
pursuing any Enforcement Action with respect to all or any material portion of the Common Collateral; and provided, further,
that (i) in any Insolvency Proceeding commenced by or against any Loan Party, the Second Lien Agent and the Second Lien Secured
Parties may take any action expressly permitted by Section 6, (ii) nothing herein shall (x) limit Second Lien Secured Parties
from initiating or maintaining Permitted Actions, or (y) restrict or otherwise limit Second Lien Secured Parties from commencing
or joining any other person in commencing, or filing a petition for, any Insolvency Proceeding against any Loan Party; provided
that the Second Lien Secured Parties shall not exercise any such right referred to in this clause (y) during the Standstill
Period and shall not, without giving each First Lien Agent 10 Business Days' prior written notice (which notice may, for the avoidance
of doubt, be given during the Standstill Period), exercise any rights or remedies described in clause (m) of the definition of
Permitted Actions during the Standstill Period.

 

4.3.
Cooperation. The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that each of
them shall take such actions as either First Lien Agent shall reasonably request in connection with the exercise by the First
Lien Secured Parties of their rights set forth herein in respect of the Common Collateral. Each First Lien Agent, on behalf of
itself and the other First Lien Secured Parties, agrees that each of them shall take such actions as the Second Lien Agent shall
reasonably request in connection with the exercise by the Second Lien Secured Parties of their rights set forth herein in respect
of the Common Collateral.

 

4.4.
Unsecured Creditor Remedies; Judgment Creditors. Except as expressly set forth in Sections 3.1(b), 4.1, the final proviso
to 4.2, 6, 9.1 and 10.1, Second Lien Agent and Second Lien Secured Parties may exercise rights and remedies available to unsecured
creditors generally, but solely to the extent such actions are not prohibited by the terms of this Agreement. In the event that
any Second Lien Secured Party becomes a judgment lien creditor as a result of its enforcement of its rights as an unsecured creditor,
such judgment lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing
the Second Lien Obligations are subject to the terms of this Agreement.

 

4.5.
Actions Upon Breach. Should either any First Lien Secured Party or any Second Lien Secured Party, as applicable, contrary
to this Agreement, in any way take, attempt to or threaten to take, any action with respect to the Common Collateral (including,
without limitation, any attempt to realize upon or enforce any remedy with respect to this Agreement), or fail to take any action
required by this Agreement, the other party may obtain relief against the First Lien Secured Party or the Second Lien Secured
Party, as applicable, by injunction, specific performance and/or other appropriate equitable relief, it being understood and agreed
by the First Lien Secured Parties or the Second Lien Secured Parties, as applicable, that (i) the damages suffered by the
Secured Parties seeking relief from the actions of the other Secured Parties against whom such relief is sought may at that time
be difficult to ascertain and may be irreparable, and (ii) the First Lien Secured Parties or the Second Lien Secured Parties,
as applicable, waive any defense that the Loan Parties and/or any Secured Party seeking relief cannot demonstrate damage and/or
be made whole by the awarding of damages.

 

4.6.
Option to Purchase.

 

(a)
Upon the occurrence and during the continuance of a Purchase Option Event, all or a portion of the Second Lien Secured Parties,
shall have the option at any time upon written irrevocable notice provided by Second Lien Agent (on behalf of such Second Lien
Secured Parties) to the First Lien Representative (the “Purchase Notice”) to purchase from the First Lien Secured
Parties all of the First Lien Obligations (other than the Excess First Lien Obligations). The Second Lien Secured Parties may
not purchase less than all of the First Lien Obligations (other than the Excess First Lien Obligations). If the Second Lien Agent
so delivers the Purchase Notice, the First Lien Representative and each First Lien Agent shall terminate or suspend any existing
Enforcement Actions and shall not take any further Enforcement Actions, provided, that the Purchase (as defined below)
shall have been consummated on the date specified in the Purchase Notice in accordance with this Section 4.6.

 

    Exhibit B-14

     

    

 

(b)
On the date specified by the Second Lien Agent in the Purchase Notice (which shall be a Business Day not less than five (5) Business
Days, nor more than twenty (20) Business Days, after receipt by the First Lien Representative of the Purchase Notice, the First
Lien Secured Parties shall sell to the Second Lien Secured Parties electing to purchase pursuant to Section 4.6(a) (the “Purchasing
Parties”), and the Purchasing Parties shall purchase (the “Purchase”) from the First Lien Secured
Parties, all of the First Lien Obligations (other than the Excess First Lien Obligations).

 

(c)
Without limiting the obligations of the Loan Parties under the First Lien Documents to the First Lien Secured Parties with respect
to the Retained Interest (as defined below) (which shall not be transferred in connection with the Purchase), on the date of the
Purchase, the Purchasing Parties shall pay to the First Lien Representative (for the benefit of the applicable First Lien Secured
Parties) as the purchase price (the “Purchase Price”) therefor (i) the principal of all First Lien Obligations
(other than the Excess First Lien Obligations and First Lien Obligations cash collateralized in accordance with clauses (ii) and
(iii) below) then outstanding, (ii) in the case of any Swap Obligations, the amount that would be payable by the relevant Loan
Party thereunder if it were to terminate such Swap Obligations on the date of the Purchase or, if not terminated, an amount determined
by the relevant First Lien Secured Party to be reasonably necessary to collateralize its credit risk arising out of such Swap
Obligations, (iii) with respect to letters of credit, furnish cash collateral (the “Letter of Credit Cash Collateral”)
to the First Lien Representative in such amounts as the relevant First Lien Secured Parties determine is reasonably necessary
to secure such First Lien Secured Parties in connection with any outstanding letters of credit (not to exceed 105% of the aggregate
undrawn face amount of such letters of credit), and (iv) accrued and unpaid interest, fees (other than any prepayment premium,
if any), breakage costs, attorneys’ fees and expenses to the extent not allocable to Excess First Lien Obligations; provided
that for the avoidance of doubt, in no event shall the Purchase Price calculated based on the foregoing (excluding clause
(iv) exceed the Maximum First Lien Principal Amount with respect to the First Lien Obligations.

 

(d)
The Purchase Price and Letter of Credit Cash Collateral shall be remitted by wire transfer in immediately available funds to such
account of the First Lien Representative as it shall designate to the Purchasing Parties. The First Lien Representative shall,
promptly following its receipt thereof, distribute the amounts received by it in respect of the Purchase Price to the applicable
First Lien Secured Parties in accordance with the applicable First Lien Documents and the First Lien Intercreditor Agreement.
Interest shall be calculated to but excluding the day on which the Purchase occurs if the amounts so paid by the Purchasing Parties
to each account designated by the First Lien Agents, respectively, are received in such account prior to 12:00 Noon, New York
City time, and interest shall be calculated to and including such day if the amounts so paid by the Purchasing Parties to any
account designated by the First Lien Agents are received in such account later than 12:00 Noon, New York City time.

 

(e)
The Purchase shall be made without representation or warranty of any kind by the First Lien Secured Parties as to the First Lien
Obligations, the Common Collateral or otherwise and without recourse to the First Lien Secured Parties, except that the First
Lien Secured Parties shall represent and warrant: (i) the amount of their respective First Lien Obligations, (ii) that the First
Lien Secured Parties own their respective First Lien Obligations free and clear of any liens or encumbrances and (iii) that the
First Lien Secured Parties have the right to assign all of their respective First Lien Obligations and their respective assignment
is duly authorized.

 

    Exhibit B-15

     

    

 

(f)
In the event that any one or more of the Second Lien Secured Parties exercises and consummates the purchase option set forth in
this Section 4.6, (i) the Purchasing Parties shall have the right, but not the obligation, to require the First Lien Agents to
immediately resign under the First Lien Credit Agreements, and (ii) notwithstanding anything contained in the First Lien Documents
to the contrary, each First Lien Agent shall have the right, but not the obligation, to immediately resign as agent under the
applicable First Lien Credit Agreement. In either such event, the First Lien Agents shall execute and deliver such documents and
instruments reasonably requested by the Second Lien Agent and/or Purchasing Parties to assign and transfer any Common Collateral,
together with any and all rights under deposit account control agreements and lien waivers related to the Common Collateral, to
the applicable successor agent under the First Lien Documents.

 

(g)
In the event that any one or more of the Second Lien Secured Parties exercises and consummates the purchase option set forth in
this Section 4.6, (i) the First Lien Secured Parties shall retain their indemnification rights under the First Lien Documents
for actions or other matters arising on or prior to the date of such purchase and (ii) and in the event that, at the time of such
Purchase, there exists Excess First Lien Obligations, the consummation of such purchase option shall not include (nor shall the
Purchase Price be calculated with respect to) such Excess First Lien Obligations (clauses (i) and (ii), the “Retained
Interest”).

 

(h)
In the event that a Retained Interest exists, each First Lien Secured Party shall, at the request of the Purchasing Parties, execute
an amendment to the applicable First Lien Credit Agreement acknowledging that such Retained Interest consisting of Excess First
Lien Obligations is a last out tranche (other than with respect to Excess Second Lien Obligations), payable after the payment
in full, in cash, of the Second Lien Obligations (other than Excess Second Lien Obligations). Each First Lien Secured Party shall
continue to have all rights and remedies of a lender under the applicable First Lien Credit Agreement and the other First Lien
Loan Documents; provided, that no First Lien Secured Party shall have any right to vote on or otherwise consent to any
amendment, waiver, departure from or other modification of any provision of any First Lien Document; provided, however,
that no such amendment, waiver, departure from or other modification shall modify the priority of the Liens with respect to such
Excess First Lien Obligations and the Excess Second Lien Obligations as provided in Sections 3.1(c) and 5.1.

 

SECTION
5. Application of Proceeds of Common Collateral; Dispositions and Releases of Common Collateral; Inspection and Insurance.

 

5.1.
Application of Proceeds; Turnover Provisions. All proceeds of Common Collateral received by the First Lien Secured Parties
or the Second Lien Secured Parties in connection with an Insolvency Proceeding or an Enforcement Action, shall be distributed
as follows: first to the First Lien Representative for application to the First Lien Obligations (other than any Excess
First Lien Obligations) in accordance with the terms of the First Lien Documents and the First Lien Intercreditor Agreement until
the First Lien Obligations Payment Date has occurred, and thereafter, to the Second Lien Agent for application to the Second
Lien Obligations (other than any Excess Second Lien Obligations) in accordance with the Second Lien Documents until the Second
Lien Obligations (other than any Excess Second Lien Obligations) are paid in full, in cash. In the event any Excess First Lien
Obligations remain unpaid after full payment of the Second Lien Obligations (other than any Excess Second Lien Obligations), any
remaining proceeds of Common Collateral shall be delivered to the First Lien Representative for application to such Excess First
Lien Obligations in accordance with the terms of the First Lien Documents and the First Lien Intercreditor Agreement. In the event
any Excess Second Lien Obligations remain unpaid after full payment of the First Lien Obligations (including all Excess First
Lien Obligations), any remaining proceeds of Common Collateral shall be delivered to the Second Lien Agent for application to
such Excess Second Lien Obligations in accordance with the terms of the Second Lien Documents. Until the occurrence of the First
Lien Obligations Payment Date, any Common Collateral, including without limitation any such Common Collateral constituting proceeds,
that may be received by any Second Lien Secured Party in violation of this Agreement shall be segregated and held in trust and
promptly paid over to the First Lien Representative, for the benefit of the First Lien Secured Parties, for application pursuant
to this Section 5.1 (and subject to the First Lien Intercreditor Agreement as to the allocation thereof among the First Lien Secured
Parties), in the same form as received, with any necessary endorsements, and each Second Lien Secured Party hereby authorizes
each of the First Lien Representative and the First Lien Agents to make any such endorsements as agent for the Second Lien Agent
(which authorization, being coupled with an interest, is irrevocable).

 

    Exhibit B-16

     

    

 

5.2.
Releases of Collateral.

 

(a)
Until the First Lien Obligations Payment Date, if the First Lien Agents release a Lien on all or any portion of the Common Collateral
in connection with: (a) an Enforcement Action, (b) a sale pursuant to Section 363 of the Bankruptcy Code, or (c) a disposition
of any Collateral that is permitted pursuant to the First Lien Documents and the Second Lien Documents, then any Lien of the Second
Lien Agent on such Common Collateral will be, except as otherwise provided below, automatically and simultaneously released to
the same extent (it being understood that the Second Lien Agent shall still, subject to the terms of this Agreement, have a security
interest with respect to the proceeds of such Common Collateral except to the extent applied to First Lien Obligations in accordance
with Section 5.1); provided, that in each case of the releases by First Lien Agents in subclauses (a), (b) and (c), (1) the net
cash proceeds of such Enforcement Action or disposition are applied to permanently repay the First Lien Obligations (or any DIP
Financing, as applicable) in accordance with Section 5.1 (it being acknowledged that any credit bid by either First Lien Agent
in any foreclosure or other disposition of any Common Collateral pursuant to any Enforcement Action is deemed to be a permanent
repayment of the First Lien Obligations (or any DIP Financing, as applicable) for purposes hereof), (2) such sale is conducted
in accordance with applicable law, and (3) such Enforcement Action, sale or disposition does not result in a sale or transfer
of Common Collateral to any Borrower, or any of their affiliates.

 

(b)
If the Lien of Second Lien Agent in the Common Collateral is to be released pursuant to the foregoing clause (a), the Second Lien
Agent shall promptly execute and deliver such release documents and instruments and shall take such further actions as the First
Lien Representative shall reasonably request to evidence any release of such Lien described in paragraph (a). Until the First
Lien Obligations Payment Date, the Second Lien Agent hereby appoints the First Lien Representative and any officer or duly authorized
person of the First Lien Representative, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable
power of attorney in the place and stead of the Second Lien Agent and in the name of the Second Lien Agent or in the First Lien
Representative’s own name, from time to time, in the First Lien Representative’s sole discretion, for the purposes
of carrying out the terms of this Section 5.2, to take any and all appropriate action and to execute and deliver any and all documents
and instruments as may be reasonably necessary or desirable to accomplish the purposes of this Section 5.2, including, without
limitation, any financing statements, endorsements, assignments, releases or other documents or instruments of transfer (which
appointment, being coupled with an interest, is irrevocable).

 

5.3.
[Reserved].

 

5.4.
Insurance. Until the First Lien Obligations Payment Date has occurred, the First Lien Agents will have the sole and exclusive
right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by any Loan
Party (except that the Second Lien Agent shall have the right to be named as additional insured and loss payee so long as its
second lien status is identified in a manner satisfactory to the First Lien Agents); (ii) to adjust or settle any insurance policy
or claim covering the Common Collateral in the event of any loss thereunder and (iii) to approve any award granted in any condemnation
or similar proceeding affecting the Common Collateral. All insurance proceeds not released to and utilized by any Loan Party pursuant
to the First Lien Documents and the Second Lien Documents for restoration, replacement or reinvestment in accordance with the
applicable terms of the First Lien Documents will be applied in the order provided herein.

 

SECTION
6. Insolvency Proceedings.

 

6.1.
[Reserved]

 

    Exhibit B-17

     

    

 

6.2.
Filing of Motions. Until the First Lien Obligations Payment Date has occurred, the Second Lien Agent agrees on behalf of
itself and the other Second Lien Secured Parties that no Second Lien Secured Party shall, in or in connection with any Insolvency
Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise take any
action whatsoever, in each case that (a) violates, or is prohibited by, this Section 6 (or, in the absence of an Insolvency Proceeding,
otherwise would violate or be prohibited by this Agreement), (b) asserts any right, benefit or privilege that arises in favor
of the Second Lien Agent or Second Lien Secured Parties, in whole or in part, as a result of their Lien or interest in the Common
Collateral to the extent in contravention of the terms of this Agreement, or (c) challenges the amount, validity, priority, enforceability
or voidability of any Liens or claims held by either First Lien Agent or any other First Lien Secured Party, or the extent to
which the First Lien Obligations (other than the Excess First Lien Obligations) constitute secured claims under Section 506(a)
of the Bankruptcy Code or otherwise; provided that the Second Lien Agent may take and maintain any Permitted Actions.

 

6.3.
Financing Matters. If any Loan Party becomes subject to any Insolvency Proceeding, and if the First Lien Agents
desire to consent (or not object) to the use of cash collateral under the Bankruptcy Code or to provide financing to any Loan
Party under the Bankruptcy Code or to consent (or not object) to the provision of such financing to any Loan Party by any third
party (any such financing, “DIP Financing”), then the Second Lien Agent agrees, subject to the DIP Conditions,
on behalf of itself and the other Second Lien Secured Parties, that each Second Lien Secured Party (a) will be deemed to have
consented to, will raise no objection to, nor support any other Person objecting to, the use of such cash collateral or to such
DIP Financing, (b) will not request or accept adequate protection or any other relief in connection with the use of such cash
collateral or such DIP Financing, except as set forth in paragraph 6.5 below, (c) will subordinate (and will be deemed hereunder
to have subordinated) their Liens (i) to such DIP Financing on the same terms as the Liens securing the First Lien Obligations
are subordinated thereto (and such subordination will not alter in any manner the terms of this Agreement), (ii) to any adequate
protection provided to the First Lien Secured Parties in connection therewith and (iii) to any reasonable and customary “carve-out”
agreed to by the First Lien Agents, and (d) agrees that notice received three (3) business days prior to the filing of the motion
seeking entry of an order approving such usage of cash collateral or approving such financing shall be adequate notice. If any
Loan Party becomes subject to any Insolvency Proceeding and the First Lien Secured Parties provide a DIP Financing that satisfies
the DIP Conditions and this Section 6.3, the Second Lien Agent agrees, on behalf of itself and the other Second Lien Secured Parties,
that none of the Second Lien Secured Parties shall provide DIP Financing to any Loan Party secured by Liens equal or senior in
priority to the Liens securing any First Lien Obligations (other than the Excess First Lien Obligations) or the Liens securing
such DIP Financing provided by the First Lien Secured Parties or that affords the lenders under any DIP Financing provided to
any Loan Party by any Second Lien Secured Party a claim that is equal or senior to any adequate protection claims of the First
Lien Secured Parties in respect of their interests in the Common Collateral, without the prior written consent of the First Lien
Agents. Notwithstanding anything herein to the contrary, the Second Lien Agent, on behalf of itself and the other Second Lien
Secured Parties, solely in their capacity as unsecured creditors and not as secured creditors of any Loan Party, may raise any
objections to any use, sale, or lease of “cash collateral”, or DIP Financing that could be raised by any unsecured
creditor of the Loan Parties.

 

6.4.
Relief From the Automatic Stay. Until the First Lien Obligations Payment Date, the Second Lien Agent agrees, on behalf
of itself and the other Second Lien Secured Parties, that none of them will, without the prior written consent of the First Lien
Agents, (a) seek relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation
thereof, in each case in respect of any Common Collateral, or (b) oppose any request by either First Lien Agent or the other First
Lien Secured Parties to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any Common
Collateral; provided that the Second Lien Agent may seek relief from the automatic stay or any other stay in any Insolvency
Proceeding in respect of the Common Collateral if and to the extent the First Lien Agents have obtained relief from or modification
of such stay in respect of the Common Collateral, but may not thereafter take or pursue any Enforcement Action with respect to
any applicable Common Collateral to which such relief or modification is applicable, except in accordance with the other applicable
terms of this Agreement.

 

    Exhibit B-18

     

    

 

6.5.
Adequate Protection. The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that
none of them shall object, contest, or support any other Person objecting to or contesting, (a) any request by either First Lien
Agent or the other First Lien Secured Parties for adequate protection or any adequate protection provided to either First Lien
Agent or the other First Lien Secured Parties or (b) any objection by either First Lien Agent or any other First Lien Secured
Parties to any motion, relief, action or proceeding based on a claim of a lack of adequate protection or (c) the payment of interest,
fees, expenses or other amounts to either First Lien Agent or any other First Lien Secured Party on account of the First Lien
Obligations (other than Excess First Lien Obligations) under Section 506(b) of the Bankruptcy Code or otherwise. Notwithstanding
anything contained in this Section and in Section 6.3(b), Second Lien Secured Parties may seek or accept adequate protection consisting
of (x) a replacement Lien on the Common Collateral, subordinated to the Liens securing the First Lien Obligations and such DIP
Financing on the same basis as the other Liens securing the Second Lien Obligations are so subordinated to the First Lien Obligations
under this Agreement, (y) superpriority claims junior in all respects to the superpriority claims granted to the First Lien Secured
Parties and (z) subject to the right of the First Lien Secured Parties to object thereto, the payment of post-petition interest
at the pre-default rate, fees and expenses (provided, in the case of this clause (z), that the First Lien Secured Parties have
been granted adequate protection in the form of post-petition interest at a rate no lower than the pre-default rate and the payment
of their fees and expenses). In the event the Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, seeks
or accepts adequate protection in accordance with the above provisions of this Section 6.5 and such adequate protection is granted
in the form of additional collateral, then the Second Lien Agent, on behalf of itself or any of the Second Lien Secured Parties,
agrees that each First Lien Agent shall also be granted a senior Lien on such additional collateral as security for the First
Lien Obligations and any such DIP Financing and that any Lien on such additional collateral securing the Second Lien Obligations
shall be subordinated to the Liens on such collateral securing the First Lien Obligations and any such DIP Financing and any other
Liens granted to the First Lien Secured Parties as adequate protection, with such subordination to be on the same terms that the
other Liens securing the Second Lien Obligations are subordinated to the Liens securing the First Lien Obligations under this
Agreement. The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that except as expressly
set forth in this Section, none of them shall seek or accept adequate protection without the prior written consent of the First
Lien Agents.

 

6.6.
Avoidance Issues. If any First Lien Secured Party is required in any Insolvency Proceeding or otherwise to disgorge, turn
over or otherwise pay or relinquish to a trustee, a receiver, or the estate of any Loan Party, because such amount was avoided
or ordered to be paid, disgorged or relinquished for any reason, including, without limitation because it was found to be a fraudulent
or preferential transfer or because the Liens securing the First Lien Obligations are unperfected or otherwise voided, avoided,
invalidated or lapsed, any amount (a “Recovery”), whether received as proceeds of security, enforcement of
any right of set-off or otherwise, then, subject to the proviso below, the First Lien Obligations shall be reinstated to the extent
of such Recovery and deemed to be outstanding as if such payment had not occurred and the First Lien Obligations Payment Date
shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall
be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise
affect the obligations of the parties hereto from the date of reinstatement. The Second Lien Secured Parties agree that none of
them shall be entitled to benefit from any Recovery, solely to the extent arising in respect of or on account of each First Lien
Secured Party's interest in the Second Lien Collateral or on account of such First Lien Secured Party's "secured claim"
against any Loan Party within the meaning of section 506 of the Bankruptcy Code, to any extent beyond what they would have been
entitled to had such Recovery not occurred (solely to the extent arising in respect of or on account of such Second Lien Secured
Party's interest in the Second Lien Collateral or an account of such Second Lien Secured Party's "secured claim" against
any Loan Party within the meaning of section 506 of the Bankruptcy)(in each case, a "Secured Claim Recovery"), it being
understood and agreed that the benefit of such Secured Claim Recovery otherwise allocable to them shall instead be allocated and
turned over for application in accordance with the priorities set forth in this Agreement; provided, that notwithstanding
anything to the contrary contained herein, (i) any amount received by the Second Lien Secured Parties in respect of a Secured
Claim Recovery to be so turned over shall be limited to the amount in excess of the amount they would have received on account
of its interest in the Second Lien Collateral or pursuant to its secured claim under section 506 of the Bankruptcy Code had such
Secured Claim Recovery not occurred and (ii) except for the amounts specified in the foregoing clause (i) in respect of a Secured
Claim Recovery, the Second Lien Secured Parties shall otherwise be entitled to receive and retain any amounts allocable to them
in respect of any other Recovery.

 

    Exhibit B-19

     

    

 

6.7.
Asset Dispositions in an Insolvency Proceeding. In an Insolvency Proceeding, neither the Second Lien Agent nor any other
Second Lien Secured Party, in its capacity as a secured creditor only, shall oppose any sale or disposition of any assets of any
Loan Party that is consented to by the First Lien Secured Parties, and will be deemed to have consented under Section 363(f) of
the Bankruptcy Code (and otherwise) to any sale consented to by the First Lien Secured Parties and to have released their Liens
on such assets so long as the First Lien Secured Parties have released their Liens on such assets and the net cash proceeds from
the sale or disposition are applied in accordance with Section 5.1; provided, further, that notwithstanding the
foregoing or any other provision herein to the contrary, the Second Lien Agent and each other Second Lien Secured Party, solely
in its capacity as an unsecured creditor and not as a secured creditor of any Loan Party, shall be entitled to oppose any sale
or disposition of any assets of any Loan Party under Section 363 of the Bankruptcy Code without the consent or approval of the
First Lien Agents.

 

6.8.
Plans of Reorganization; Reorganization Securities. Prior to the First Lien Obligations Payment Date, no Second Lien Secured
Party shall, without the consent of the First Lien Representative, directly or indirectly propose, support or vote in favor of
any a plan of reorganization or similar dispositive restructuring plan in connection with an Insolvency Proceeding that is in
contravention of the provisions of this Agreement; provided that nothing in this Section 6.8 shall restrict any Second Lien Secured
Party from voting any unsecured claim held by such Second Lien Secured Party in favor of any plan of reorganization or similar
dispositive restructuring plan in connection with an Insolvency Proceeding. Nothing in this Agreement prohibits or limits the
right of the Second Lien Secured Parties to receive and retain (a) any debt or equity securities that are issued by a reorganized
debtor pursuant to a plan of reorganization or similar dispositive restructuring plan in connection with an Insolvency Proceeding,
provided that if any debt securities are distributed pursuant to a plan of reorganization or similar dispositive restructuring
plan in connection with an Insolvency Proceeding both on account of First Lien Obligations and on account of Second Lien Obligations
and both (i) such debt obligations are secured by Liens and (ii) such Liens are upon the same property, then, as between the First
Lien Secured Parties and the Second Lien Secured Parties, the provisions of this Agreement will survive the distribution of such
debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations or (b) any
distribution received by such Second Lien Secured Party pursuant to a plan of reorganization or similar dispositive restructuring
plan in connection with an Insolvency Proceeding in respect of any claim classified under such plan as an unsecured claim in accordance
with section 506(a)(1) of the Bankruptcy Code.

 

6.9.
Separate Grants of Security and Separate Classification. Each Secured Party acknowledges and agrees that (a) the grants
of Liens pursuant to the First Lien Security Documents and the Second Lien Security Documents constitute separate and distinct
grants of Liens and (b) because of, among other things, their differing rights in the Common Collateral, the First Lien Obligations
and the Second Lien Obligations are fundamentally different from each other and must be separately classified in any plan of reorganization
proposed or adopted in an Insolvency Proceeding. To further effectuate the intent of the parties as provided in the immediately
preceding sentence, if it is held that the claims of the First Lien Secured Parties and Second Lien Secured Parties in respect
of the Common Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims),
then the Second Lien Secured Parties hereby acknowledge and agree that all distributions shall be made as if there were separate
classes of senior and junior secured claims against the Loan Parties in respect of the Common Collateral, with the effect being
that, to the extent that the aggregate value of the Common Collateral is sufficient (for this purpose ignoring all claims held
by the Second Lien Secured Parties), the First Lien Secured Parties shall be entitled to receive, in addition to amounts distributed
to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of Post-Petition Amounts
before any distribution is made in respect of the claims held by the Second Lien Secured Parties. The Second Lien Secured Parties
hereby acknowledge and agree to turn over to the First Lien Secured Parties amounts otherwise received or receivable by them to
the extent necessary to effectuate the intent of the preceding sentence, even if such turnover has the effect of reducing the
claim or recovery of the Second Lien Secured Parties.

 

    Exhibit B-20

     

    

 

6.10.
No Waivers of Rights of First Lien Secured Parties. Subject to Section 3.1(b), nothing contained herein shall prohibit
or in any way limit either First Lien Agent or any other First Lien Secured Party from objecting in any Insolvency Proceeding
or otherwise to any action taken by any Second Lien Secured Party not expressly permitted hereunder, including the seeking by
any Second Lien Secured Party of adequate protection (except as provided in Section 6.5).

 

6.11.
Effectiveness in Insolvency Proceedings. This Agreement, which the parties hereto expressly acknowledge is a “subordination
agreement” under Section 510(a) of the Bankruptcy Code, shall be effective before, during and after the commencement of
an Insolvency Proceeding.

 

6.12.
Rights as Unsecured Creditors. In any Insolvency Proceeding, the Second Lien Secured Parties may exercise any rights and
remedies that could be exercised by an unsecured creditor in accordance with the terms of the Second Lien Documents and applicable
law, in each case to the extent not prohibited by the terms of this Agreement.

 

SECTION
7. Modifications to First Lien Documents or Second Lien Documents.

 

7.1.
Restrictions on First Lien Document Modifications. The First Lien Documents may not be amended, renewed, extended, restated,
supplemented or otherwise modified without the prior written consent of the Second Lien Agent (which consent will not be unreasonably
withheld), so as to:

 

(a)
(i) increase the aggregate amount of the principal portion of the ABL First Lien Obligations to exceed the Maximum ABL First Lien
Principal Amount or (ii) increase the aggregate amount of the principal portion of the Floor Plan First Lien Obligations to exceed
the Maximum Floor Plan First Lien Principal Amount;

 

(b)
increase the applicable margin or similar component of interest rate (including by adding or increasing any interest rate floor)
or add or increase any recurring fees (excluding any one-time fees, whether payable at one time or in multiple installments, payable
in connection with the initial origination or syndication of the First Lien Obligations, any amendment, waiver or similar agreement,
any renewal of existing credit, or any increase, origination or extension of additional credit) or premiums in a manner that would
cause the total yield on all Loans (as defined in either First Lien Credit Agreement on the date hereof, respectively) to exceed
by more than 2.00% of the total yield on such Loans as in effect on the date hereof (excluding increases resulting from the accrual
of interest at the default rate of 3.00%, fluctuations in LIBOR or any other similar rate index, any replacement of LIBOR due
to any cessation thereof, and application of the pricing grid set forth in the Existing ABL First Lien Credit Agreement or the
Existing Floor Plan First Lien Credit Agreement, as applicable, on the date hereof) or increase the default rate by any margin;

 

(c)
extend the final scheduled maturity of the First Lien Obligations by more than 180 days from the final scheduled maturity as in
effect on the date hereof;

 

(d)
alter the amortization schedule for the First Lien Obligations, such that the average life to maturity of the First Lien Obligations
is shorter than in effect as of the date hereof;

 

    Exhibit B-21

     

    

 

(e)
add or change any, covenant, default or event of default under the First Lien Documents in a manner adverse to the Loan Parties,
unless the Loan Parties concurrently offer to enter into a corresponding amendment or modification to the applicable provisions
of the Second Lien Documents;

 

(f)
add (or make more restrictive) any prohibition or restriction on payment of the Second Lien Obligations;

 

(g)
subordinate the First Lien Obligations or the Liens of the First Lien Secured Parties on the Common Collateral, except as permitted
in Section 6.3 and except with respect to “Permitted Encumbrances” under either First Lien Credit Agreement (as in
effect on the date hereof);

 

(h)
change or amend any term of the First Lien Documents relating to the assignment of or participation in all or any portion of the
First Lien Obligations to any Loan Party or any of their respective Affiliates (including any amendment or modification of definition
of Ineligible Institution (as defined in the First Lien Credit Agreement as in effect on the date hereof) to remove any Loan Party
or any of their respective Affiliates from such definition) as set forth in each First Lien Credit Agreement (as in effect on
the date hereof), respectively;

 

(i)
change or amend the definition of Ineligible Institution (as defined in each First Lien Credit Agreement, respectively, as in
effect on the date hereof) to remove or modify the final proviso of the definition thereof in any way; or

 

(j)
impose any limitation on amendments or modifications of the Second Lien Documents that is more restrictive that the limitations
contained herein.

 

7.2.
Restrictions on Second Lien Document Modifications. The Second Lien Documents may not be amended, renewed, extended, restated,
supplemented or otherwise modified without the prior written consent of the First Lien Agents (which consent will not be unreasonably
withheld), so as to:

 

(a)
increase the aggregate amount of the principal portion of the Second Lien Obligations to exceed the Maximum Second Lien Principal
Amount;

 

(b)
increase the rate of interest on any of the Second Lien Obligations or add or increase any recurring fees (excluding any one-time
fees, whether payable at one time or in multiple installments, payable in connection with the initial origination or syndication
of the Second Lien Obligations, any amendment, waiver or similar agreement, any renewal of existing credit, or any increase, origination
or extension of additional credit) or premiums that would cause the total yield on the Second Lien Obligations to exceed by more
than 4.00% of the total yield on the Second Lien Obligations as in effect on the date hereof (excluding increases resulting from
the accrual of interest at the default rate of 3.00% or fluctuations in LIBOR or any other similar rate index) or increase the
default rate by any margin (other than prepayment premiums, yield maintenance, make whole or similar fees and premiums, and exit
fees, in each case that are payable in connection with any repayment (other than regularly scheduled principal payments) of the
Second Lien Obligations, which shall not be restricted under this Section 7.2(b));

 

(c)
[reserved];

 

(d)
shorten the maturity of all or any portion of the Second Lien Obligations in effect as of the date hereof;

 

(e)
require any scheduled payments or mandatory prepayments of any principal portion of the Second Lien Obligations which are not
required under the terms of the Second Lien Documents in effect as of the date hereof;

 

    Exhibit B-22

     

    

 

(f)
add or change any, covenant, default or event of default under the Second Lien Documents in a manner adverse to the Loan Parties;
provided, that Second Lien Secured Parties shall be permitted to amend, modify or supplement the Second Lien Documents to modify
or add covenants, defaults or other provisions to the extent the corresponding provisions of the First Lien Documents have been
amended or modified;

 

(g)
add (or make more restrictive) any prohibition or restriction on payment of any of the First Lien Obligations;

 

(h)
subordinate the Second Lien Obligations or the Liens of the Second Lien Secured Parties on the Common Collateral, except as permitted
in Section 6.3 and except with respect to “Permitted Encumbrances” under the Second Lien Credit Agreement (as in effect
on the date hereof);

 

(i)
change or amend any term of the Second Lien Documents relating to the assignment of or participation in all or any portion of
the Second Lien Obligations to any Loan Party or any of their respective Affiliates or to the voting rights of any Loan Party
or any of their respective Affiliates with respect to any portion of the Second Lien Obligations held by any such Person as set
forth in the Second Lien Credit Agreement (as in effect on the date hereof); or

 

(j)
impose any limitation on amendments or modifications of the First Lien Documents that is more restrictive that the limitations
contained herein.

 

SECTION
8. Reliance; Waivers; etc.

 

8.1.
Reliance. The First Lien Documents are deemed to have been executed and delivered, and all extensions of credit thereunder
are deemed to have been made or incurred, in reliance upon this Agreement. The Second Lien Agent, on behalf of it itself and the
other Second Lien Secured Parties, expressly waives all notice of the acceptance of and reliance on this Agreement by the First
Lien Secured Parties. The Second Lien Documents are deemed to have been executed and delivered and all extensions of credit thereunder
are deemed to have been made or incurred, in reliance upon this Agreement. Each First Lien Agent, on behalf of itself and the
other First Lien Secured Parties for which it is First Lien Agent, expressly waives all notices of the acceptance of and reliance
on this Agreement by the Second Lien Agent and the other Second Lien Secured Parties.

 

8.2.
No Warranties or Liability. The Second Lien Agent and the First Lien Agents acknowledge and agree that none of them has
made any representation or warranty with respect to the execution, validity, legality, completeness, collectability or enforceability
of any other First Lien Document or any Second Lien Document. Except as otherwise provided in this Agreement, the Second Lien
Agent and the First Lien Agents will be entitled to manage and supervise their respective extensions of credit to any Loan Party
in accordance with law and their usual practices, modified from time to time as they deem appropriate.

 

8.3.
No Waivers. No right or benefit of any party hereunder shall at any time in any way be prejudiced or impaired by any act
or failure to act on the part of such party or any other party hereto or by any noncompliance by any Loan Party with the terms
and conditions of any of the First Lien Documents or the Second Lien Documents.

 

    Exhibit B-23

     

    

 

SECTION
9. Obligations Unconditional.

 

9.1.
First Lien Obligations Unconditional. All rights and interests of the First Lien Secured Parties hereunder, and all agreements
and obligations of the Second Lien Secured Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in
full force and effect irrespective of:

 

(a)
any lack of validity or enforceability of any First Lien Document and regardless of whether any of the Liens of the First Lien
Agents and First Lien Secured Parties are not perfected or are voidable for any reason; or

 

(b)
any change in the time, place or manner of payment of, or in any other term of, all or any portion of the First Lien Obligations,
or any amendment, waiver or other modification, whether by course of conduct, in writing or otherwise, including any increase
in the amount thereof, or any refinancing, replacement, refunding or restatement of any First Lien Document, except to the extent
expressly prohibited hereunder;

 

(c)
any exchange, release or lack of perfection of any Lien of any of the First Lien Agents and First Lien Secured Parties on any
Common Collateral or any other asset, or any amendment, waiver or other modification, whether in writing or by course of conduct
or otherwise, of all or any of the First Lien Obligations or any guarantee thereof, except to the extent expressly prohibited
hereunder;

 

(d)
the commencement of any Insolvency Proceeding in respect of any Loan Party; or

 

(e)
any other circumstances that otherwise might constitute a defense available to, or a discharge of, any Loan Party in respect of
the First Lien Obligations, or of any of the First Lien Secured Parties or any Loan Party, to the extent applicable, in respect
of this Agreement.

 

9.2.
Second Lien Obligations Unconditional. All rights and interests of the Second Lien Secured Parties hereunder, and all agreements
and obligations of the First Lien Secured Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in
full force and effect irrespective of:

 

(a)
any lack of validity or enforceability of any Second Lien Document and regardless of whether the Liens of the Second Lien Agent
and Second Lien Secured Parties are not perfected or are voidable for any reason;

 

(b)
any change in the time, place or manner of payment of, or in any other term of, all or any portion of the Second Lien Obligations,
or any amendment, waiver or other modification, whether by course of conduct, in writing or otherwise, including any increase
in the amount thereof, or any refinancing, replacement, refunding or restatement of any Second Lien Document, except to the extent
expressly prohibited hereunder;

 

(c)
any exchange, release or lack of perfection of any Lien of the Second Lien Agent and Second Lien Secured Parties on any Common
Collateral or any other asset, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise,
of all or any of the Second Lien Obligations or any guarantee thereof, except to the extent expressly prohibited hereunder; or

 

(d)
the commencement of any Insolvency Proceeding in respect of any Loan Party; or

 

(e)
any other circumstances that otherwise might constitute a defense available to, or a discharge of, any Loan Party in respect of
the Second Lien Obligations, or of any of the Second Lien Secured Parties or any Loan Party, to the extent applicable, in respect
of this Agreement.

 

    Exhibit B-24

     

    

 

SECTION
10. Miscellaneous.

 

10.1.
Rights of Subrogation. The Second Lien Agent, for and on behalf of itself and the Second Lien Secured Parties, agrees that
no payment to either First Lien Agent or any First Lien Secured Party pursuant to the provisions of this Agreement shall entitle
the Second Lien Agent or any Second Lien Secured Party to exercise any rights of subrogation in respect thereof until the First
Lien Obligations Payment Date. Following the First Lien Obligations Payment Date, the Second Lien Secured Parties shall be subrogated
to the rights of the First Lien Secured Parties to the extent that payments and distributions otherwise payable to the Second
Lien Secured Parties have been applied to the First Lien Obligations in accordance with the provisions of this Agreement, and
each First Lien Agent agrees to execute such documents, agreements, and instruments as the Second Lien Agent or any Second Lien
Secured Party may reasonably request to evidence the transfer by subrogation to any such Person of an interest in the First Lien
Obligations resulting from payments to either First Lien Agent by such Person, so long as all costs and expenses (including all
reasonable legal fees and disbursements) incurred in connection therewith by each First Lien Agent are paid by such Person upon
request for payment thereof.

 

10.2.
Further Assurances. Each of the Second Lien Agent and the First Lien Agents will, at their own expense and at any time
and from time to time, promptly execute and deliver all further instruments and documents, and take all further action, that may
be necessary or desirable, or that the other party may reasonably request, in order to protect any right or interest granted or
purported to be granted hereby or to enable the First Lien Agents or the Second Lien Agent to exercise and enforce its rights
and remedies hereunder; provided, however, that no party shall be required to pay over any payment or distribution,
execute any instruments or documents, or take any other action referred to in this Section 10.2, to the extent that such action
would contravene any law, order or other legal requirement or any of the terms or provisions of this Agreement, and in the event
of a controversy or dispute, such party may interplead any payment or distribution in any court of competent jurisdiction, without
further responsibility in respect of such payment or distribution under this Section 10.2.

 

10.3.
Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any First Lien Document
or any Second Lien Document, the provisions of this Agreement shall govern; provided, however, in the event of any
conflict between the provisions of this Agreement and the intercreditor agreement dated as of the date hereof (as amended, restated
or otherwise modified from time to time. the “First Lien Intercreditor Agreement”), among the First Lien Secured
Parties, the terms and conditions of the First Lien Intercreditor Agreement shall control among the First Lien Secured Parties
as to the relative rights of the First Lien Secured Parties in respect of the Common Collateral.

 

10.4.
Continuing Nature of Provisions. Subject to Section 6.6, this Agreement shall continue to be effective, and shall not be
revocable by any party hereto, until the First Lien Obligations Payment Date shall have occurred; provided, that Section 4.6(h)
and Section 5.1 shall continue in effect with respect to the rights and obligations of the parties with respect to Excess First
Lien Obligations. This is a continuing agreement and the First Lien Secured Parties and the Second Lien Secured Parties may continue,
at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and
provide indebtedness to, or for the benefit of, any Borrower or any other Loan Party on the faith hereof.

 

10.5.
Amendments; Waivers. No amendment or modification of any of the provisions of this Agreement shall be effective unless
the same shall be in writing and signed by the First Lien Agents and the Second Lien Agent.

 

10.6.
Information Concerning Financial Condition of the Borrowers and the other Loan Parties. Each of the Second Lien Secured
Parties and the First Lien Secured Parties hereby assumes responsibility for keeping itself informed of the financial condition
of the Borrowers and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the First
Lien Obligations or the Second Lien Obligations. The Second Lien Secured Parties and the First Lien Secured Parties hereby agree
that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances.
In the event the Second Lien Agent or either First Lien Agent, in its sole discretion, undertakes at any time or from time to
time to provide any information to any other party to this Agreement, it shall be under no obligation (a) to provide any such
information to such other party or any other party on any subsequent occasion, (b) to undertake any investigation not a part of
its regular business routine, or (c) to disclose any other information.

 

    Exhibit B-25

     

    

 

10.7.
Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York, except
as otherwise required by mandatory provisions of law and except to the extent that remedies provided by the laws of any jurisdiction
other than the State of New York are governed by the laws of such jurisdiction.

 

10.8.
Submission to Jurisdiction.

 

(a)
Each First Lien Secured Party, each Second Lien Secured Party and each Loan Party hereby irrevocably and unconditionally submits,
for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York
County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof,
in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and
each such party hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may
be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each such party
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the any First
Lien Secured Party or Second Lien Secured Party may otherwise have to bring any action or proceeding against any Loan Party or
its properties in the courts of any jurisdiction.

 

(b)
Each First Lien Secured Party, each Second Lien Secured Party and each Loan Party hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so (i) any objection it may now or hereafter have to the laying of venue
of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (a) of this
Section and (ii) the defense of an inconvenient forum to the maintenance of such action or proceeding.

 

(c)
Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.9.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted
by law.

 

10.9.
Notices. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted
to be given shall be in writing and may be personally served, telecopied, or sent by overnight express courier service or United
States mail and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy
or five days after deposit in the United States mail (certified, with postage prepaid and properly addressed). For the purposes
hereof, the addresses of the parties hereto (until notice of a change thereof is delivered as provided in this Section) shall
be as set forth below each party’s name on the signature pages hereof, or, as to each party, at such other address as may
be designated by such party in a written notice to all of the other parties.

 

10.10.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of each of the parties hereto
and each of the First Lien Secured Parties and Second Lien Secured Parties and their respective successors and assigns, and nothing
herein is intended, or shall be construed to give, any other Person any right, remedy or claim under, to or in respect of this
Agreement or any Common Collateral.

 

10.11.
Headings. Section headings used herein are for convenience of reference only, are not part of this Agreement and shall
not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

10.12.
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the
validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction.

 

    Exhibit B-26

     

    

 

10.13.
Agents. The ABL First Lien Agent has executed this Agreement as directed under and in accordance with the Existing ABL
First Lien Credit Agreement and will perform this Agreement solely in its capacity as ABL First Lien Agent and not individually.
In performing under this Agreement, the ABL First Lien Agent shall have all rights, protections, immunities and indemnities granted
it under the Existing ABL First Lien Credit Agreement. Subject to the terms of the Existing ABL First Lien Credit Agreement, the
ABL First Lien Agent shall have no obligation to perform or exercise any discretionary act. The Floor Plan First Lien Agent has
executed this Agreement as directed under and in accordance with the Existing Floor Plan First Lien Credit Agreement and will
perform this Agreement solely in its capacity as Floor Plan First Lien Agent and not individually. In performing under this Agreement,
the Floor Plan First Lien Agent shall have all rights, protections, immunities and indemnities granted it under the Existing Floor
Plan First Lien Credit Agreement. Subject to the terms of the Existing Floor Plan First Lien Credit Agreement, the Floor Plan
First Lien Agent shall have no obligation to perform or exercise any discretionary act. The Second Lien Agent has executed this
Agreement as directed under and in accordance with the Existing Second Lien Credit Agreement and will perform this Agreement solely
in its capacity as Second Lien Agent and not individually. In performing under this Agreement, the Second Lien Agent shall have
all rights, protections, immunities and indemnities granted it under the Existing Second Lien Credit Agreement. Subject to the
terms of the Existing Second Lien Credit Agreement, the Second Lien Agent shall have no obligation to perform or exercise any
discretionary act.

 

10.14.
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto
on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute
a single contract. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as
delivery of a manually executed counterpart of this Agreement. This Agreement shall become effective when it shall have been executed
by each party hereto.

 

10.15.
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

10.16.
Additional Loan Parties. Each Person that becomes a Loan Party after the date hereof shall be deemed to have acknowledged
this Agreement in the manner set forth on Annex I attached hereto upon execution and delivery by such Person of a Joinder Agreement
in accordance with the requirements of each First Lien Credit Agreement and the Second Lien Credit Agreement.

 

10.17.
No Third Party Beneficiaries. The provisions of this Agreement are solely for the purpose of defining the relative rights
of the First Lien Secured Parties, the Second Lien Secured Parties and their respective successors and permitted assigns, and
this Agreement shall not be deemed to create any rights or priorities in favor of any other Person, including, without limitation,
any Loan Party, and there are no other parties or Persons whatsoever including, without limitation, the Loan Parties, who are
intended to be benefited in any manner whatsoever by this Agreement.

 

[Remainder
of page left intentionally blank]

 

    Exhibit B-27

     

    

 

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

 

	 	JPMORGAN
    CHASE BANK, N.A., as ABL First Lien Agent for and on behalf of the ABL First Lien Secured Parties
	 	 	 
	 	By:
    	 
	 	Name:
    	Michael
    Byrne
	 	Title:
    	Authorized
    Officer

  

	 	Address
    for Notices:
	 	JPMorgan
    Chase Bank, N.A.
	 	Loan
    and Agency Services
	 	10
    South Dearborn, 7th Floor
	 	Chicago,
    Illinois 60603, Mail Code IL1-0010
	 	Attention:
    Alta Equipment Group
	 	Facsimile
    No: (312) 385-7096

 

 

 

 

Signature
Page to Intercreditor Agreement

 

    Exhibit B-28

     

    

 

	 	JPMORGAN
    CHASE BANK, N.A., as Floor Plan First Lien Agent for and on behalf of the Floor Plan First Lien Secured Parties
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Address
    for Notices:
	 	 
	 	JPMorgan
    Chase Bank, N.A.
	 	 
	 	 
	 	Attention:
    Alta Equipment Group
	 	Facsimile
    No:

 

 

 

 

Signature
Page to Intercreditor Agreement

 

    Exhibit B-29

     

    

 

	 	U.S.
    BANK NATIONAL ASSOCIATION, as Second Lien Agent for and on behalf of the Second Lien Secured Parties
	 	 	 
	 	By:	                     
	 	Name:	 
	 	Title:	 

  

	 	Address
    for Notices:
	 	 
	 	U.S.
    BANK NATIONAL ASSOCIATION 
	 	 
	 	 
	 	Attention:
	 	Facsimile
    No:

 

 

 

 

Signature
Page to Intercreditor Agreement

 

    Exhibit B-30

     

    

 

ACKNOWLEDGEMENT

 

The
undersigned hereby acknowledge and consent to the foregoing Intercreditor Agreement, dated as of February 3, 2020 (the “Intercreditor
Agreement”) among JPMORGAN CHASE BANK, N.A., as the ABL First Lien Agent, JPMORGAN CHASE BANK, N.A., as the Floor Plan
First Lien Agent, and U.S. BANK NATIONAL ASSOCIATION, as the Second Lien Agent. Unless otherwise defined in this Acknowledgement,
terms defined in the Intercreditor Agreement have the same meanings when used in this Acknowledgement.

 

Each
Loan Party hereby acknowledges that it has received a copy of the foregoing Intercreditor Agreement and consents thereto, agrees
to recognize all rights granted thereby to the ABL First Lien Secured Parties, the Floor Plan First Lien Secured Parties and the
Second Lien Secured Parties, and will not do any act or perform any obligation which is not in accordance with the agreements
set forth therein. Each Loan Party agrees that the Intercreditor Agreement may be amended by the ABL First Lien Secured Parties,
the Floor Plan First Lien Secured Parties and the Second Lien Secured Parties, without notice to, or the consent of any such Loan
Party or any other Person; provided, however, that each Loan Party agrees to be bound by the Intercreditor Agreement
only as in effect on the date hereof and, to the extent that such Loan Party has been notified of the terms of any amendment,
as so amended.

 

[Remainder
of page left intentionally blank]

 

  

 

Acknowledgment
to Intercreditor Agreement

 

    Exhibit B-31

     

    

 

	 	B.
    RILEY PRINCIPAL MERGER CORP., to be re-named ALTA EQUIPMENT GROUP INC.
	 	 	 
	 	By:	              
	 	Name:
    	 
	 	Title:
    	 
	 	 	 
	 	ALTA
    EQUIPMENT HOLDINGS, INC.
	 	 	 
	 	By:
    	 
	 	Name:
    	 
	 	Title:
    	 

 

	 	ALTA
    ENTERPRISES, LLC
	 	ALTA
    CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	ALTA
    INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	ALTA
    HEAVY EQUIPMENT SERVICES, LLC
	 	ALTA
    INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	ALTA
    CONSTRUCTION EQUIPMENT, L.L.C.
	 	NITCO,
    LLC
	 	ALTA
    CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	 	By:
    	 
	 	Name:
    	     
	 	Title:
    	 
	 	 	of
    each of the above, on behalf of each of the above
	 	 	 

 

	 	Address
    for Notices:
	 	 
	 	13211
    Merriman Rd
	 	Livonia,
    MI 48150-1826
	 	Attention:
    President
	 	Facsimile
    No. 248-449-6701

 

 

 

Acknowledgment
to Intercreditor Agreement

  

    Exhibit B-32

     

    

 

EXHIBIT
C-1

 

[FORM
OF]

 

U.S.
TAX COMPLIANCE CERTIFICATE

(For
Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the Fifth Amended and Restated ABL First Lien Credit Agreement dated as of February 3, 2020 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among B. Riley Principal Merger Corp.,
to be known as Alta Equipment Group Inc., Alta Equipment Holdings, Inc., Alta Enterprises, LLC, Alta Construction Equipment Illinois,
LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction Equipment, L.L.C. Alta Industrial
Equipment Company, L.L.C., NITCO, LLC, and Alta Construction Equipment Florida, LLC, JPMorgan Chase Bank, N.A., as administrative
agent for the lenders, and each lender from time to time party thereto.

 

Pursuant
to the provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
Beneficial Owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate,
(ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any
Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to
any Borrower as described in Section 881(c)(3)(C) of the Code.

 

The
undersigned has furnished the Administrative Agent and the Borrower Representative with a certificate of its non-U.S. Person status
on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform the Borrower Representative and the
Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower Representative and the Administrative
Agent with a properly completed and currently effective certificate prior to the first payment to be made to the undersigned,
or in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement.

 

	[NAME OF LENDER]	 
	 	 	 
	By:	        	 
	Name:  	 	 
	Title:	 	 

 

Date:
________ __, 20[    ]

 

    Exhibit C-1-1

     

    

 

EXHIBIT
C-2

 

[FORM
OF]

 

U.S.
TAX COMPLIANCE CERTIFICATE

(For
Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the Fifth Amended and Restated ABL First Lien Credit Agreement dated as of February 3, 2020 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among B. Riley Principal Merger Corp.,
to be known as Alta Equipment Group Inc., Alta Equipment Holdings, Inc., Alta Enterprises, LLC, Alta Construction Equipment Illinois,
LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction Equipment, L.L.C. Alta Industrial
Equipment Company, L.L.C., NITCO, LLC, and Alta Construction Equipment Florida, LLC, JPMorgan Chase Bank, N.A., as administrative
agent for the lenders, and each lender from time to time party thereto.

 

Pursuant
to the provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and
Beneficial Owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning
of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B)
of the Code, and (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C)
of the Code.

 

The
undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS
Form W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all
times furnished such Lender with a properly completed and currently effective certificate prior to the first payment to be made
to the undersigned, or in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 

 

	[NAME
    OF PARTICIPANT]	 
	 	 	 
	By:	                     	 
	Name:  	 	 
	Title:	 	 

 

Date:
________ __, 20[    ]

 

    Exhibit C-2-1

     

    

 

EXHIBIT
C-3

 

[FORM
OF]

 

U.S.
TAX COMPLIANCE CERTIFICATE

(For
Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the Fifth Amended and Restated ABL First Lien Credit Agreement dated as of February 3, 2020 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among B. Riley Principal Merger Corp.,
to be known as Alta Equipment Group Inc., Alta Equipment Holdings, Inc., Alta Enterprises, LLC, Alta Construction Equipment Illinois,
LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction Equipment, L.L.C. Alta Industrial
Equipment Company, L.L.C., NITCO, LLC, and Alta Construction Equipment Florida, LLC, JPMorgan Chase Bank, N.A., as administrative
agent for the lenders, and each lender from time to time party thereto.

 

Pursuant
to the provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the
sole Beneficial Owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct
or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its
trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members
is a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct
or indirect partners/members is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C)
of the Code.

 

The
undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of
its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,
or (ii) an IRS Form W-8IMY accompanied by a withholding statement together with an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,
from each of such partner’s/member’s Beneficial Owners that is claiming the portfolio interest exemption. By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed
and currently effective certificate prior to the first payment to be made to the undersigned, or in either of the two calendar
years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement.

 

	[NAME
    OF PARTICIPANT]	 
	 	 	 
	By:	                     	 
	Name:  	 	 
	Title:	 	 

 

Date:
________ __, 20[    ]

 

    Exhibit C-3-1

     

    

 

EXHIBIT
C-4

 

[FORM
OF]

 

U.S.
TAX COMPLIANCE CERTIFICATE

(For
Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

 

Reference
is hereby made to the Fifth Amended and Restated ABL First Lien Credit Agreement dated as of February 3, 2020 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among B. Riley Principal Merger Corp.,
to be known as Alta Equipment Group Inc., Alta Equipment Holdings, Inc., Alta Enterprises, LLC, Alta Construction Equipment Illinois,
LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment Michigan, LLC, Alta Construction Equipment, L.L.C. Alta Industrial
Equipment Company, L.L.C., NITCO, LLC, and Alta Construction Equipment Florida, LLC, JPMorgan Chase Bank, N.A., as administrative
agent for the lenders, and each lender from time to time party thereto.

 

Pursuant
to the provisions of Section 2.16 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its
direct or indirect partners/members are the sole Beneficial Owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)),
(iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned
nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a ten percent shareholder of any Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none
of its direct or indirect partners/members is a controlled foreign corporation related to any Borrower as described in Section
881(c)(3)(C) of the Code.

 

The
undersigned has furnished the Administrative Agent and the Borrower Representative with IRS Form W-8IMY accompanied by one of
the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN
or IRS Form W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by a withholding statement together with an IRS Form
W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such partner’s/member’s Beneficial Owners that is claiming
the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform the Borrower Representative and the Administrative Agent, and
(2) the undersigned shall have at all times furnished the Borrower Representative and the Administrative Agent with a properly
completed and currently effective certificate prior to the first payment to be made to the undersigned, or in either of the two
calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement.

 

	[NAME OF LENDER]	 
	 	 	 
	By:	        	 
	Name:  	 	 
	Title:	 	 

 

Date:
________ __, 20[    ]

 

 

Exhibit C-4-1Exhibit 10.2

 

EXECUTION
VERSION

 

 

 

NOTE PURCHASE AGREEMENT

 

dated as of

 

February 3, 2020

 

among

 

B. RILEY PRINCIPAL MERGER CORP.,

(to be renamed Alta Equipment Group
Inc.)

ALTA ENTERPRISES, LLC,

ALTA EQUIPMENT HOLDINGS, INC.,

ALTA CONSTRUCTION EQUIPMENT ILLINOIS,
LLC,

ALTA INDUSTRIAL EQUIPMENT MICHIGAN,
LLC,

ALTA HEAVY EQUIPMENT SERVICES, LLC,

ALTA CONSTRUCTION EQUIPMENT, L.L.C.

NITCO, LLC

ALTA CONSTRUCTION EQUIPMENT FLORIDA,
LLC

 

and

 

ALTA INDUSTRIAL EQUIPMENT COMPANY,
L.L.C.,

as Issuers

 

The Purchasers Party Hereto

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Administrative Agent

 

 

 

     

     

    

 

Table
of Contents

 

	 	 	 	Page
	 	 	 	 
	ARTICLE I	Definitions	1
	Section 1.01	Defined Terms	1
	Section 1.02	[Reserved]	33
	Section 1.03	Terms Generally	33
	Section 1.04	Accounting Terms; GAAP	34
	Section 1.05	Interest Rates; LIBOR Notification	34
	Section 1.06	Status of Obligations	35
	ARTICLE II	The Credits	35
	Section 2.01	Commitments	35
	Section 2.02	[Reserved]	35
	Section 2.03	[Reserved]	36
	Section 2.04	[Reserved]	36
	Section 2.05	[Reserved]	36
	Section 2.06	[Reserved]	36
	Section 2.07	[Reserved]	36
	Section 2.08	Repayment of Notes; Register	36
	Section 2.09	Mandatory Offers of Prepayment	36
	Section 2.10	Voluntary and Mandatory Prepayment of Notes	38
	Section 2.11	Fees	40
	Section 2.12	Interest	40
	Section 2.13	Alternate Rate of Interest; Illegality	41
	Section 2.14	Increased Costs	43
	Section 2.15	Break Funding Payment	44
	Section 2.16	Taxes	44
	Section 2.17	Payments Generally; Allocation of Proceeds; Sharing of Set-offs	48
	Section 2.18	Mitigation Obligations; Replacement of Purchasers	50
	Section 2.19	Tax Treatment of Notes	51
	Section 2.20	Appointment of Issuer Representative	51
	Section 2.21	[Reserved]	51
	Section 2.22	Returned Payments	52

 

    -i-

     

    

	 	 	 	 
	ARTICLE III	Representations and Warranties	52
	Section 3.01	Organization; Powers	52
	Section 3.02	Authorization; Enforceability	52
	Section 3.03	Governmental Approvals; No Conflicts	52
	Section 3.04	Financial Condition; No Material Adverse Change	53
	Section 3.05	Properties	53
	Section 3.06	Litigation and Environmental Matters	54
	Section 3.07	Compliance with Laws and Agreements	54
	Section 3.08	Investment Company Status	54
	Section 3.09	Taxes	54
	Section 3.10	ERISA	55
	Section 3.11	Disclosure	55
	Section 3.12	Solvency	55
	Section 3.13	Security Interest in Collateral	56
	Section 3.14	Labor Disputes	56
	Section 3.15	No Default	56
	Section 3.16	Federal Reserve Regulations	56
	Section 3.17	Subordinated Debt	56
	Section 3.18	Anti-Corruption Laws and Sanctions	57
	Section 3.19	EEA Financial Institutions	57
	Section 3.20	Material Agreements	57
	Section 3.21	Capitalization and Subsidiaries	57
	Section 3.22	Use of Proceeds	58
	Section 3.23	Affiliate Transactions	58
	Section 3.24	First Lien and Floor Plan Transactions	58
	Section 3.25	Flagler Acquisition	58
	Section 3.26	Liftech Acquisition	59
	Section 3.27	Insurance	59
	Section 3.28	Common Enterprise	59
	Section 3.29	B. Riley Merger/Equity Transactions	60

 

    -ii-

     

    

 

	ARTICLE IV	Conditions to effective date	61
	Section 4.01	Notes Documents	61
	Section 4.02	Certificate	61
	Section 4.03	Fees	61
	Section 4.04	Existing Indebtedness; Warrants	62
	Section 4.05	Insurance	62
	Section 4.06	First Lien Loans and Floor Plan Loans	62
	Section 4.07	B. Riley Merger/Equity Transactions	62
	Section 4.08	Intercreditor Agreements	62
	Section 4.09	Filings, Registrations and Recordings	62
	Section 4.10	Financial Statements; Projections	63
	Section 4.11	Availability	63
	Section 4.12	Opinions of Counsel	63
	Section 4.13	Corporate Structure	63
	Section 4.14	USA PATRIOT Act, Etc	63
	Section 4.15	Flagler Acquisition	63
	Section 4.16	Liftech Acquisition	63
	Section 4.17	Private Placement Number	63
	Section 4.18	Commitment Fee	63
	Section 4.19	Rating	63
	Section 4.20	Funding Notice	64
	Section 4.21	Proceedings and Documents	64
	ARTICLE V	Affirmative Covenants	64
	Section 5.01	Financial Statements and Other Information	64
	Section 5.02	Notices of Material Events	67
	Section 5.03	Existence; Conduct of Business	68
	Section 5.04	Payment of Obligations	68
	Section 5.05	Maintenance of Properties; Insurance	68
	Section 5.06	Books and Records; Inspection Rights; Purchaser Meetings	68
	Section 5.07	Compliance with Laws	69
	Section 5.08	Use of Proceeds	69
	Section 5.09	Collateral Security; Further Assurances	70
	Section 5.10	Additional Covenants	71
	Section 5.11	Depository Banks	71
	Section 5.12	Rating	71

 

    -iii-

     

    

 

	ARTICLE VI	Negative Covenants	72
	Section 6.01	Indebtedness	72
	Section 6.02	Liens	73
	Section 6.03	Fundamental Changes	74
	Section 6.04	Investments, Loans, Advances, Guarantees and Acquisitions	74
	Section 6.05	Swap Agreements	75
	Section 6.06	Restricted Payments	75
	Section 6.07	Transactions with Affiliates	76
	Section 6.08	Restrictive Agreements	76
	Section 6.09	Change of Name or Location; Change of Fiscal Year	77
	Section 6.10	Amendments to Agreements	77
	Section 6.11	Prepayment of Indebtedness; Subordinated Debt	77
	Section 6.12	Government Regulation	77
	Section 6.13	Financial Covenants	77
	Section 6.14	Alta Group, Alta Holdings, and Alta Enterprises as a Holding Company	79
	Section 6.15	Compliance with Anti-Terrorism and Anti-Corruption Laws and Sanctions	79
	ARTICLE VII	Events of Default	80
	ARTICLE VIII	Representations and Warranties of Purchasers	83
	Section 8.01	Existence	83
	Section 8.02	Authority	83
	Section 8.03	[Reserved]	83
	Section 8.04	Investment for Own Account	83
	Section 8.05	Transfer Restrictions	83
	Section 8.06	Sophistication	84
	Section 8.07	Brokers	84
	Section 8.08	Source of Funds	84
	ARTICLE IX	The Administrative Agent	86

 

    -iv-

     

    

 

	ARTICLE X	Miscellaneous	94
	Section 10.01	Notices	94
	Section 10.02	Waivers; Amendments	96
	Section 10.03	Expenses; Indemnity; Damage Waiver	98
	Section 10.04	Successors and Assigns	99
	Section 10.05	Survival	101
	Section 10.06	Counterparts; Integration; Effectiveness	102
	Section 10.07	Severability	102
	Section 10.08	Right of Setoff	102
	Section 10.09	Governing Law; Jurisdiction; Consent to Service of Process	103
	Section 10.10	WAIVER OF JURY TRIAL	104
	Section 10.11	Headings	104
	Section 10.12	Confidentiality	104
	Section 10.13	Several Obligations; Nonreliance; Violation of Law	106
	Section 10.14	USA PATRIOT Act	106
	Section 10.15	Interest Rate Limitation	106
	Section 10.16	[Reserved]	107
	Section 10.17	[Reserved]	107
	Section 10.18	Appointment for Perfection	107
	Section 10.19	[Reserved]	107
	Section 10.20	Marketing Consent	107
	Section 10.21	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	107
	Section 10.22	No Fiduciary Duty, etc	108
	 	 	 	 

    -v-

     

    

 

SCHEDULES

 

Commitment Schedule

 

	Schedule 3.05	Notes Parties
	Schedule 3.06	Disclosed Matters
	Schedule 3.17	Subordinated Debt Documents
	Schedule 3.20	Material Agreements
	Schedule 3.21	Capitalization and Subsidiaries
	Schedule 3.24	First Lien Loan Documents and Floor Plan Loan Documents
	Schedule 3.27	Insurance
	Schedule 3.29	B. Riley Merger/Equity Transactions
	Schedule 6.01	Existing Indebtedness
	Schedule 6.02	Existing Liens
	Schedule 6.04	Existing Investments
	Schedule 6.13(e)	Historical EBITDA, Capital Expenditures and Fixed Charges

 

EXHIBITS

 

	Exhibit A	Form of Assignment and Assumption
	Exhibit B	Form of First Lien Intercreditor Agreement
	Exhibit C	Form of Note
	Exhibit D	Form of Funding Notice

 

    -vi-

     

    

 

This Note Purchase
Agreement, dated as of February 3, 2020 (as it may be amended or modified from time to time, this “Agreement”),
is among B. RILEY PRINCIPAL MERGER CORP. (to be renamed Alta Equipment Group, Inc.), a Delaware corporation, ALTA ENTERPRISES,
LLC, a Michigan limited liability company, ALTA EQUIPMENT HOLDINGS, INC., a Michigan corporation, ALTA CONSTRUCTION EQUIPMENT ILLINOIS,
LLC, a Michigan limited liability company, ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC, a Michigan limited liability company, ALTA
HEAVY EQUIPMENT SERVICES, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT, L.L.C., a Michigan limited liability
company, ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C., a Michigan limited liability company, NITCO, LLC, a Michigan limited liability
company, ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC, a Michigan limited liability company, the Purchasers party hereto, and U.S.
BANK NATIONAL ASSOCIATION, as Administrative Agent.

 

R E C I T A L S

 

A. Purchasers
have agreed to purchase the Notes from the Issuers in an initial aggregate stated principal amount as set forth in the
Funding Notice delivered pursuant to Section 4.20 of either $155,000,000 or $165,000,000 on the Effective Date, the proceeds
of which will be used to repay certain existing indebtedness of the Issuers and their Subsidiaries, to finance the Flagler
Acquisition and the Liftech Acquisition, to pay costs, fees and expenses in connection with the transactions contemplated
hereunder, and to provide liquidity to the Issuers and their Subsidiaries.

 

B. Issuers
have agreed to secure all of their Obligations by granting to the Administrative Agent, for the benefit of Secured Parties, a second
priority Lien on substantially all of their assets, including a pledge of all of the Equity Interests of each of their Subsidiaries.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual agreements made herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I

Definitions

 

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

 

“Acquisition”
means any transaction, or any series of related transactions, consummated on or after the date of this Agreement, by which any
Notes Party (a) acquires any going business or all or substantially all of the assets of any firm, corporation or limited liability
company, or division thereof, whether through purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in
one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the
Equity Interests of a Person.

 

“Adjusted
LIBO Rate” means, for any applicable Interest Period or at any time any Note bears interest at the CB Floating Rate,
an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest
Period multiplied by (b) the Statutory Reserve Rate; provided, that, at no time shall the Adjusted LIBO Rate be less than the greater
of (i) 1.80% per annum and (ii) the Adjusted LIBO Rate in effect on the Effective Date. For the avoidance of doubt, if the LIBO
Rate is replaced with a Benchmark Replacement pursuant to Section 2.13, for purposes of determining the Adjusted LIBO Rate, such
Benchmark Replacement shall replace the reference to LIBO Rate in this definition.

 

     

     

    

 

“Adjusted
One Month LIBOR Rate” means, for any day, an interest rate per annum equal to the sum of (a) 2.50% plus (b) the Adjusted
LIBO Rate for a one (1)-month interest period on such day (or if such day is not a Business Day, the immediately preceding Business
Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate at approximately
11:00 a.m. London time on such day; provided further, that, if the LIBO Screen Rate at such time shall be less than zero, such
rate shall be deemed to be zero for purposes of this Agreement.

 

“Administrative
Agent” means U.S. Bank National Association, in its capacity as Administrative Agent for the Purchasers hereunder, as
such capacity is established in, and subject to the provisions of, Article IX, and the successors and assigns of U.S. Bank National
Association in such capacity.

 

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

 

“Affiliate”
means, at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and, with respect to any Issuer,
shall include any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests
of such Issuer or any Subsidiary or any Person of which such Issuer and its Subsidiaries beneficially own or hold, in the aggregate,
directly or indirectly, 10% or more of any class of voting or equity interests.

 

“Agreement”
has the meaning assigned in the introductory paragraph.

 

“Alta Construction
Equipment Florida” means Alta Construction Equipment Florida, LLC, a Michigan limited liability company.

 

“Alta Enterprises”
means Alta Enterprises, LLC, a Michigan limited liability company.

 

“Alta Group”
means B. Riley Principal Merger Corp., a Delaware corporation, to be renamed Alta Equipment Group Inc. on the Effective Date.

 

“Alta Holdings”
means Alta Equipment Holdings, Inc., a Michigan corporation.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to any Issuer or its Subsidiaries from time
to time concerning or relating to bribery or corruption.

 

“Anti-Terrorism
Laws” means any requirement of law related to money laundering or financing terrorism, including the USA PATRIOT Act,
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), Trading With the Enemy Act (50 U.S.C. §1 et seq., as amended),
Executive Order 13224 (effective September 24, 2001) and each of the foreign assets control regulations of the United States Treasury
Department (31 C.F.R., Subtitle B, Chapter V, as amended), in each case, as now and hereafter in effect, or any successor statutes.

 

    -2-

     

    

 

“Applicable
Margin” means (a) 8.00% per annum for any Note bearing interest by reference to the Adjusted LIBO Rate and (b) 7.00%
per annum for any Note bearing interest by reference to the CB Floating Rate.

 

“Approved
Fund” has the meaning assigned to such term in Section 10.04.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Purchaser and an assignee (with the consent of any
party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A
or any other form approved by the Administrative Agent.

 

“Availability”
means “Availability” as defined in the First Lien Credit Agreement.

 

“B. Riley
Merger/Equity Transaction Agreements” means the agreements listed on Schedule 3.29 as the B. Riley Merger/Equity
Transaction Agreements.

 

“B. Riley
Merger/Equity Transactions” means the transactions described on Schedule 3.29.

 

“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.

 

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

 

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

 

    -3-

     

    

 

“Benchmark
Replacement Adjustment” means the spread adjustment, or method for calculating or determining such spread adjustment,
(which may be a positive or negative value or zero) that has been selected by the Required Purchasers and the Issuer Representative
giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark Replacement by the Relevant
Governmental Body and/or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for
calculating or determining such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark
Replacement for dollar-denominated syndicated credit facilities at such time (for the avoidance of doubt, such Benchmark Replacement
Adjustment shall not be in the form of a reduction to the Applicable Margin).

 

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “Adjusted One Month LIBOR Rate,” the definition of “Interest
Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that
the Required Purchasers decide may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and
to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or,
if the Required Purchasers decide that adoption of any portion of such market practice is not administratively feasible or if the
Required Purchasers determine that no market practice for the administration of the Benchmark Replacement exists, in such other
manner of administration as the Required Purchasers decide is reasonably necessary in connection with the administration of this
Agreement).

 

“Benchmark
Replacement Date” means the earlier to occur of the following events with respect to the LIBO Rate:

 

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

 

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

 

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

 

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

 

(b) a
public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate, the
U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBO Screen Rate, a resolution
authority with jurisdiction over the administrator for the LIBO Screen Rate or a court or an entity with similar insolvency or
resolution authority over the administrator for the LIBO Screen Rate, in each case which states that the administrator of the LIBO
Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or indefinitely, provided that, at the time of
such statement or publication, there is no successor administrator that will continue to provide the LIBO Screen Rate; and/or

 

    -4-

     

    

 

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

 

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

 

“Benchmark
Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to the LIBO Rate and solely to the extent that the LIBO Rate has not been replaced with a Benchmark Replacement, the
period (a) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has
replaced the LIBO Rate for all purposes hereunder in accordance with Section 2.13 and (b) ending at the time that a Benchmark Replacement
has replaced the LIBO Rate for all purposes hereunder pursuant to Section 2.13.

 

“Beneficial
Owner” means, with respect to any U.S. federal withholding Tax, the beneficial owner, for U.S. federal income tax purposes,
to whom such Tax relates.

 

“Blocked Person”
means any Person, entity, organization or government (a) whose name appears on the list of Specially Designated Nationals and Blocked
Persons published by OFAC (an “OFAC Listed Person”) or is otherwise a Sanctioned Person, (b) that is an agent,
department, or instrumentality of, or is otherwise beneficially owned by, controlled by or acting on behalf of, directly or indirectly,
(i) any OFAC Listed Person or (ii) any other Sanctioned Person or Sanctioned Country, or (c) is otherwise blocked, the subject
or target of Sanctions or engaged in any activity in violation of Sanctions or Anti-Terrorism Laws.

 

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

 

“Board of
Directors” means, (a) with respect to a corporation, the board of directors of the corporation or such directors or committee
serving a similar function, (b) with respect to a limited liability company, the board of managers of the company or such managers
or committee serving a similar function, (c) with respect to a partnership, the Board of Directors of the general partner of the
partnership, and (d) with respect to any other Person, the managers, directors, trustees, board or committee of such Person or
its owners serving a similar function.

 

“Business
Day” means 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 either such state are authorized or required by law or other governmental
action to close; provided that, when used in connection with a Note accruing interest at the Adjusted LIBO Rate, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market.

 

    -5-

     

    

 

“Capital Expenditures”
means, without duplication, any expenditure or commitment to expend money for any purchase or other acquisition of any asset which
would be classified as a fixed or capital asset, including without limitation leasehold improvements, but excluding new, used or
parts inventory, on a consolidated balance sheet of Alta Group and its Subsidiaries prepared in accordance with GAAP. For purposes
of calculating the Fixed Charge Coverage Ratio, such expenditures will be reduced by the sum of (a) the net book value with respect
to any sale of any fixed or capital assets (excluding new, used, and parts inventory) and (b) any piece of rental equipment financed
via either First Lien Revolving Loans, Floor Plan Loans or any other floorplan line (up to the value advanced on such asset thereunder),
in each case (both clauses (a) and (b)) as determined by the First Lien Administrative Agent.

 

“Capital Lease”
means any lease of property, real or personal, the obligations with respect to which are required to be capitalized on a balance
sheet of the lessee in accordance with GAAP.

 

“Capital Lease
Obligations” means the aggregate principal component of capitalized lease obligations relating to a Capital Lease determined
in accordance with GAAP.

 

“Cash Common
Equity” has the meaning assigned to such term in Section 3.29.

 

“CB Floating
Rate” means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR
Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating
Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective
date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

 

“Change in
Control” means any of the following:

 

(a) the
acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the
Exchange Act and the rules of the SEC thereunder as in effect on the date of this Agreement) other than Permitted Investors, of
Equity Interests representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity
Interests of Alta Group;

 

(b) occupation
at any time of a majority of the seats (other than vacant seats) on the board of directors of Alta Group by Persons who were not
(i) directors of Alta Group on the date of this Agreement or nominated or appointed by the board of directors of Alta Group or
(ii) appointed by directors so nominated or appointed;

 

(c) the
acquisition of direct or indirect Control of Alta Group by any Person or group other than Permitted Investors;

 

    -6-

     

    

 

(d) Alta
Group shall fail to own and control, directly, beneficially and of record, Equity Interests representing 100% of each of the aggregate
ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of Alta Holdings;

 

(e) Alta
Group and Alta Holdings shall fail to own, directly, beneficially and of record, Equity Interests representing 100% of each of
the aggregate ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of Alta
Enterprises;

 

(f) Alta
Enterprises shall fail to own, directly or indirectly, beneficially and of record, Equity Interests representing 100% of each of
the aggregate ordinary voting power and aggregate equity value represented by the issued and outstanding Equity Interests of each
other Issuer (other than Alta Group and Alta Holdings); or

 

(g) any
“change in control” (or any comparable term) under any First Lien Loan Document or Floor Plan Loan Document or any
other event that would require or permit the First Lien Lenders or Floor Plan Lenders or any of them to require an acceleration
or prepayment of the First Lien Obligations or the Floor Plan Obligations, as applicable.

 

“Change in
Law” means the occurrence, after the date of this Agreement (or with respect to any Purchaser, if later, the date on
which such Purchaser becomes a Purchaser), of any of the following: (a) the adoption or taking effect of any law, rule, regulation
or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority, or (c) the making or issuance of any request, rules, guideline, requirement or directive
(whether or not having the force of law) by any Governmental Authority; provided however, that notwithstanding anything herein
to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements
and directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines,
requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or
any successor or similar authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III (i.e., the
Third Basel Accord agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11), shall in each case
be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or implemented.

 

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

 

“Collateral”
means any and all present or future personal property or material real property owned, leased or operated by a Person, which property
is covered by the Collateral Documents and any and all other property of any Notes Party, now existing or hereafter acquired, that
may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent, on behalf of itself and
the other Secured Parties, to secure the Secured Obligations.

 

“Collateral
Documents” means, collectively, the Security Agreements, any Mortgages, the Notes Party Guaranties, the Flagler Assignment
of Representations and Warranties, the Liftech Assignment of Representations and Warranties, and any other agreements, instruments
and documents executed in connection with this Agreement that are intended to create, perfect or evidence Liens to secure all or
any part of the Secured Obligations, including, without limitation, all other security agreements, pledge agreements, mortgages,
deeds of trust, loan agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents, assignments,
contracts, fee letters, notices, leases, financing statements and all other written matter whether theretofore, now or hereafter
executed by any Notes Party, all as amended or otherwise modified from time to time.

 

    -7-

     

    

 

“Commitment”
means, with respect to each Purchaser, the amount of such Purchaser’s Commitment as of the date of this Agreement as set
forth on the Commitment Schedule.

 

“Commitment
Schedule” means the Schedule attached hereto identified as such.

 

“Compounded
SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for
this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as
a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Required
Purchasers in accordance with:

 

(a) the
rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant Governmental Body for
determining compounded SOFR; provided that:

 

(b) if,
and to the extent that, the Required Purchasers determine that Compounded SOFR cannot be determined in accordance with clause (a)
above, then the rate, or methodology for this rate, and conventions for this rate that the Required Purchasers determine are substantially
consistent with any evolving or then-prevailing market convention for determining compounded SOFR for dollar-denominated syndicated
credit facilities at such time;

 

provided, further,
that if the Required Purchasers decide that any such rate, methodology or convention determined in accordance with clause (a) or
clause (b) is not administratively feasible for the Required Purchasers (in consultation with the Administrative Agent), then Compounded
SOFR will be deemed unable to be determined for purposes of the definition of “Benchmark Replacement.”

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

    -8-

     

    

 

“Consolidated
EBITDA” means, with reference to any period, the Net Income for such period, and plus (a) to the extent reducing such
Net Income, (i) Interest Expense, (ii) expense for income taxes, (iii) depreciation, (iv) amortization, (v) any non-cash charges
for such period (but excluding (A) any non-cash charge that results from the write-down or write-off of accounts receivable or
that is in respect of any other item that was included in Net Income in a prior period, (B) any non-cash charge that relates to
the write-down or write-off of inventory, any additions to bad debt reserves or bad debt expense and (C) any non-cash charge to
the extent it represents an accrual of or a reserve for cash expenditures in any future period), (vi) any reasonable non-recurring
fees, cash charges and other cash expenses made or incurred in connection with (A) the Transactions (including one-time transaction
bonuses) in an aggregate amount not to exceed $25,000,000 incurred prior to or within nine months after the Effective Date, or
(B) any amendments, restatements, supplements, waivers or other modifications to the Notes Documents, the First Lien Loan Documents
or the Floor Plan Loan Documents, (vii) losses deducted during the specified period, but only to the extent proceeds of insurance
(including, without limitation, business interruption insurance) or indemnity recovery are actually received during such period,
(viii) reasonable transaction expenses and fees for such period with respect to with respect to Permitted Acquisitions consummated
or sought but not consummated by any Notes Party, (ix) Pro Forma EBITDA attributable to any Permitted Acquisition, (x) reasonable
expenses and fees incurred during the specified period in connection with the administration of the Notes Documents, the First
Lien Loan Documents and the Floor Plan Loan Documents after the Effective Date (including in all cases expenses and fees paid to
the Administrative Agent and/or Purchasers), (xi) fees and expenses during the specified period which are directly related to any
proposed or actual issuance of debt or equity or asset dispositions, in each case permitted under this Agreement, (xii) [reserved],
(xiii) (A) any extraordinary or non-recurring losses in the aggregate in any period of twelve consecutive months not to exceed
the result of (1) 10% of Consolidated EBITDA, less (2) any noncash gains or losses on the sale of fixed or capital assets offset
for gains from the sale of fixed or capital assets calculated (x) at the price at which the applicable Notes Party sold the applicable
asset, minus (y) such Note Party’s initial purchase price of such asset (for the avoidance of doubt, without reducing this
clause (y) for any depreciation or amortization thereof), for such twelve consecutive months (prior to giving effect to this clause
(xiii)(A)) or (B) other non-recurring charges, costs and expenses incurred during such period approved by the Required Purchasers
in their reasonable discretion (not to be unreasonably withheld, conditioned or delayed), and (xiv) one-time GAAP adjustments related
to the B. Riley Merger/Equity Transactions in an aggregate amount not to exceed $35,000,000, minus (b) without duplication and
to the extent included in Net Income, (i) any cash payments made during such period in respect of non-cash charges described in
clause (a)(v) taken in a prior period and (ii) any non-cash items of income for such period, all calculated for Alta Group and
its Subsidiaries on a consolidated basis.

 

“Consolidated
First Lien Debt” means, as of any date, the Consolidated Total Debt of Alta Group and its Subsidiaries, excluding (a)
the aggregate outstanding amount of the Notes at such time and (b) the aggregate outstanding amount of Subordinated Debt at such
time.

 

“Consolidated
Note Coverage Ratio” means, as of any date, the ratio of (a) Consolidated Total Assets less Consolidated First Lien Debt
as of such date to (b) the aggregate outstanding amount of the Notes as of such date.

 

“Consolidated
Total Assets” means, as of any date, (a) the sum of the Net Book Value of each of the following, without duplication,
as of such date (i) accounts receivable, net of allowance for doubtful accounts, plus (ii) parts inventory, net of reserves, plus
(iii) work in process, net of reserves, plus (iv) equipment inventories (i.e., equipment held for sale or rental under the new,
used, and rental categories on the balance sheet of Alta Group and its Subsidiaries), net of depreciation, plus (v) fixed assets
(i.e. property plan and equipment) net of depreciation, less (b) the sum of the following as of such date (i) the value of promotional
Indebtedness owing to vendors that is interest free and has no required payments and is otherwise on terms acceptable to the Required
Purchasers, plus (ii) Showroom Ready Debt, all as set forth in the most recently delivered financial statements of Alta Group and
its Subsidiaries.

 

    -9-

     

    

 

“Consolidated
Total Debt” means, as of any date, the Indebtedness of Alta Group and its Subsidiaries on a consolidated basis, excluding
(a) promotional Indebtedness owing to vendors that is interest free and has no required payments and is otherwise on terms acceptable
to the Required Purchasers, and (b) Showroom Ready Debt which is not in curtailment.

 

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

 

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

 

“Credit Party”
means the Administrative Agent or any other Purchaser.

 

“Declined
Offer” has the meaning assigned to such term in Section 2.09(d).

 

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

 

“Default Rate”
has the meaning assigned to such term in Section 2.12(b).

 

“Departing
Purchaser” has the meaning assigned to such term in Section 2.18(b).

 

“Disclosed
Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.

 

“Disqualified
Equity” means any Equity Interest that, by its terms (or by the terms of any security into which it is convertible or
for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part.

 

“Dividing
Person” has the meaning assigned to it in the definition of “Division.”

 

“Division”
means the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among two
or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the
Dividing Person and pursuant to which the Dividing Person may or may not survive.

 

“Division
Successor” means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any portion
of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of
such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division shall be deemed
a Division Successor upon the occurrence of such Division.

 

“dollars”
or “$” refers to lawful money of the U.S.

 

    -10-

     

    

 

“Early Opt-in
Election” means the occurrence of:

 

(a) a
notification by the Required Purchasers to the Administrative Agent (with a copy to the Issuers) that the Required Purchasers have
determined that dollar-denominated syndicated credit facilities being executed at such time, or that include language similar to
that contained in Section 2.13 are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate
to replace the LIBO Rate, and

 

(b) the
election by the Required Purchasers to declare that an Early Opt-in Election has occurred and the provision by the Administrative
Agent of written notice of such election to the Issuer Representative and the other Purchasers.

 

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

 

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

 

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

 

“Effective
Date” means the date upon which all of the conditions set forth in Article IV are satisfied; provided, that such conditions
are satisfied on or before February 14, 2020.

 

“Electronic
Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record
and adopted by a Person with the intent to sign, authenticate or accept such contract or record.

 

“Electronic
System” means any electronic system, including e-mail, e-fax, Intralinks®, ClearPar®, Debt Domain, Syndtrak and
any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent
and any of its Related Parties or any other Person, providing for access to data protected by passcodes or other security system.

 

“Employee
Benefit Plan” means an “employee benefit plan” within the meaning of Section 3(3) of ERISA which any Issuer
or Guarantor establishes for the benefit of its employees or for which any Issuer or Guarantor has liability to make a contribution,
including by reason of being an ERISA Affiliate, other than a Multiemployer Plan.

 

“Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding
agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation
or reclamation of natural resources, or the management, release or threatened release of any Hazardous Material or to health and
safety matters.

 

    -11-

     

    

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of any Notes Party directly or indirectly resulting from or based upon (a) violation
of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials,
(c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment
or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.

 

“Equity Interests”
means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests
in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof
to purchase or acquire any such equity interest.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time and the rules and regulations promulgated
thereunder.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) that, together with any Issuer (or Guarantor, if any), is treated as
a single employer under Section 414(b) or (c) of the Code or, Section 4001(14) of ERISA or, solely for purposes of Section
302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.

 

“ERISA Event”
means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with
respect to a Plan (other than an event for which the 30 day notice period is waived); (b) the failure to satisfy the “minimum
funding standards” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing
pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard
with respect to any Plan; (d) the incurrence by any Issuer (or Guarantor, if any) or any of their ERISA Affiliates of any liability
under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by any Issuer (or Guarantor, if any) or any
ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or
to appoint a trustee to administer any Plan; (f) the incurrence by any Issuer (or Guarantor, if any) or any of its ERISA Affiliates
of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by
any Issuer (or Guarantor, if any) or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Issuer
(or Guarantor, if any) or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent or in critical status, within the meaning of Title IV of ERISA.

 

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

 

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

 

    -12-

     

    

 

“Event of
Loss” means, with respect to any assets, any of the following: (a) any loss, destruction or damage of such assets; (b)
any pending or threatened institution of any proceedings for the condemnation or seizure of such assets or for the exercise of
any right of eminent domain; or (c) any actual condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise,
of such assets, or confiscation of such assets or the requisition of the use of such assets.

 

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

 

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Purchaser, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Purchaser, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Purchaser with respect to an applicable interest in a Note pursuant to the applicable
law in effect on the date on which (i) such Purchaser acquires such interest in the Note or (ii) such Purchaser changes its lending
office, except in each case to the extent that, pursuant to Section 2.18, amounts with respect to such Taxes were payable either
to such Purchaser’s assignor immediately before such Purchaser acquired the applicable interest in a Note or to such Purchaser
immediately before it changed its lending office, (c) U.S. Taxes attributable to such Recipient’s failure to comply with
Section 2.16(f) and (d) any U.S. federal withholding Taxes imposed under FATCA.

 

“FATCA”
means Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof
and any agreement entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices
adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such
Sections of the Code.

 

“Federal Reserve
Bank of New York’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

 

“Financial
Officer” means the chief executive officer, chief financial officer, vice president of finance, director of finance,
principal accounting officer, treasurer or controller of such company.

 

“First Lien
Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent under any of the First
Lien Loan Documents, or any successor administrative agent under any of the First Lien Loan Documents.

 

“First Lien
Available Revolving Commitment” means the “Available Revolving Commitment” as defined in the First Lien Credit
Agreement.

 

“First Lien
Credit Agreement” means the Fifth Amended and Restated Credit Agreement, dated as of the date of this Agreement, among
the Issuers, the First Lien Lenders party thereto from time to time, and the First Lien Administrative Agent, as amended, refinanced,
replaced, supplemented or otherwise modified from time to time in accordance with the First Lien Intercreditor Agreement.

 

    -13-

     

    

 

“First Lien
Intercreditor Agreement” means an intercreditor agreement substantially in the form of Exhibit B hereto, dated
as of the date of this Agreement, among the Issuers, the Administrative Agent, the First Lien Administrative Agent and the Floor
Plan Administrative Agent, as amended or otherwise modified from time to time.

 

“First Lien
Lenders” means the Persons referred to as “Lenders” in the First Lien Credit Agreement.

 

“First Lien
Leverage Ratio” means, as of any date, the ratio of (a) Consolidated First Lien Debt as of such date, to (b) Consolidated
EBITDA less (i) any noncash gains or losses on the sale of fixed or capital assets offset for gains from the sale of fixed or capital
assets calculated (A) at the price at which the applicable Notes Party sold the applicable asset, minus (B) such Note Party’s
initial purchase price of such asset (for the avoidance of doubt, without reducing this clause (B) for any depreciation or amortization
thereof); and (ii) Interest Expense with respect to the Showroom Ready Debt (with Consolidated EBITDA and such Interest Expense
calculated for the four most recently ended four Fiscal Quarters as of such date).

 

“First Lien
Loan Documents” means the “Loan Documents” as defined in the First Lien Credit Agreement.

 

“First Lien
Obligations” means, collectively, the “Obligations” as defined in the First Lien Credit Agreement and the
Floor Plan Obligations.

 

“First Lien
Revolving Loans” means the “Revolving Loans” as defined in the First Lien Credit Agreement.

 

“Fiscal Quarter”
means each of the quarterly accounting periods of Alta Group and its Subsidiaries ending on March 31, June 30, September 30 and
December 31 of each year.

 

“Fiscal Year”
means each annual accounting period of Alta Group and its Subsidiaries ending on December 31. As an example, reference to the 2020
Fiscal Year shall mean the Fiscal Year ending December 31, 2020.

 

“Fixed Charge
Coverage Ratio” means, as of any date, the ratio of (a) Consolidated EBITDA, minus, Capital Expenditures, to (b) Fixed
Charges, all as calculated for the four consecutive Fiscal Quarters then ending on a consolidated basis for Alta Group and its
Subsidiaries.

 

“Fixed Charges”
means, for any period, without duplication, cash Interest Expense, plus prepayments (other than (x) prepayments of First Lien Revolving
Loans and (y) prepayments constituting refinancings through the incurrence of additional Indebtedness expressly permitted by Section
6.01) and scheduled principal and curtailment payments on Indebtedness made during such period (other than payments on intercompany
Indebtedness between the Issuers), plus expense for taxes paid in cash, plus Restricted Payments paid in cash, plus Capital Lease
Obligation payments, all calculated for the Issuers and their respective Subsidiaries on a consolidated basis.

 

    -14-

     

    

 

“Flagler”
means Flagler Construction Equipment, LLC, a Delaware limited liability company.

 

“Flagler Acquisition”
means the Acquisition of substantially all the assets of Flagler by Alta Construction Equipment Florida described in the Flagler
Acquisition Agreement and the other Flagler Acquisition Documents.

 

“Flagler Acquisition
Agreement” means the Asset Purchase Agreement dated on or before the Effective Date among Flagler, Flagler Holdings,
LLC, a Delaware limited liability company, Alta Construction Equipment Florida, Alta Enterprises and Thomas R. Holmes in the form
delivered to the Purchasers prior to the date of this Agreement.

 

“Flagler Acquisition
Documents” means the Flagler Acquisition Agreement and each other material agreement effecting the Flagler Acquisition,
including, without limitation, any escrow agreement, management agreement, non-competition agreement, bonus agreement, retention
agreement, employment agreement for any officer or other senior management employee and other similar agreements.

 

“Flagler Assignment
of Representations and Warranties” means that certain Assignment of Representations, Warranties, Covenants and Indemnities
dated as of the Effective Date under the terms of which Alta Construction Equipment Florida collaterally assigns to the Administrative
Agent its rights and benefits under the Flagler Acquisition Agreement.

 

“Floor Plan
Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent under any of the Floor
Plan Loan Documents, or any successor administrative agent under any of the Floor Plan Loan Documents.

 

“Floor Plan
Credit Agreement” means the Floor Plan Credit Agreement, dated as of the date of this Agreement, among the Issuers, the
lenders party thereto from time to time, and the Floor Plan Administrative Agent, as amended, refinanced, replaced, supplemented
or otherwise modified from time to time.

 

“Floor Plan
Lenders” means the “Lenders” as defined in, and party to, the Floor Plan Credit Agreement.

 

“Floor Plan
Loan Documents” means the “Loan Documents” as defined in the Floor Plan Credit Agreement.

 

“Floor Plan
Loans” means “Loans” as defined in, and made under, the Floor Plan Credit Agreement.

 

“Floor Plan
Obligations” means the “Secured Obligations” as defined in the Floor Plan Credit Agreement as in effect
on the date of this Agreement and as may be increased pursuant to Section 6.01(c).

 

    -15-

     

    

 

“Foreign Purchaser”
means (a) if an Issuer is a U.S. Person, a Purchaser that is not a U.S. Person, and (b) if an Issuer is not a U.S. Person, a Purchaser
that is resident or organized under the laws of a jurisdiction other than that in which such Issuer is resident for tax purposes.

 

“Forward Purchase
Cash Common Equity” has the meaning assigned to such term in Section 3.29.

 

“Funding Notice”
means a funding notice substantially in the form of Exhibit D hereto.

 

“GAAP”
means generally accepted accounting principles in the U.S.

 

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

 

“Greenawalt”
means Ryan Greenawalt and any trust controlled by him for his benefit, his spouse’s benefit or the benefit of any lineal
descendants of Ryan Greenawalt.

 

“Guarantees”
means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary
course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness
of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not
contingent, (a) to purchase any such Indebtedness or any property constituting security therefor, (b) to advance or provide funds
or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance
sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements or similar agreements
or arrangements) for the benefit of any holder of Indebtedness of such other Person, (c) to lease or purchase assets, securities
or services primarily for the purpose of assuring the holder of such Indebtedness against loss in respect thereof, or (d) to otherwise
assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Guarantee hereunder
shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum
principal amount, if larger) of the Indebtedness in respect of which such Guarantee is made.

 

“Guarantors”
means the Issuers (as a Guarantor with respect to all Secured Obligations of each of the other Notes Parties) and each existing
and future subsidiary of any of the foregoing.

 

“Hazardous
Materials” means (a) any substance, material, or waste that is included within the definitions of “hazardous substances,”
“hazardous materials,” “hazardous waste,” “toxic substances,” “toxic materials,”
“toxic waste,” or words of similar import in any Environmental Law; (b) those substances listed as hazardous substances
by the United States Department of Transportation (or any successor agency) (49 C.F.R. 172.101 and amendments thereto) or by the
Environmental Protection Agency (or any successor agency) (40 C.F.R. Part 302 and amendments thereto); and (c) any substance, material,
or waste that is petroleum, petroleum-related, or a petroleum by-product, asbestos or asbestos-containing material, polychlorinated
biphenyls, flammable, explosive, radioactive, freon gas, radon, or a pesticide, herbicide, or any other agricultural chemical.

 

    -16-

     

    

 

“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 Purchaser 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” has the meaning assigned to such term in Section 3.04(a).

 

“IBA”
has the meaning assigned to such term in Section 1.05.

 

“Impacted
Interest Period” has the meaning assigned to such term in the definition of “LIBO Rate”.

 

“Indebtedness”
of any Person means, without duplication, with respect to any Person, without duplication, (a) all obligations of such Person for
borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, or upon which
interest payments are customarily made, (c) all obligations of such Person under conditional sale or other title retention agreements
relating to assets purchased by such Person (other than customary reservations or retentions of title under agreements with suppliers
entered into in the ordinary course of business), (d) all obligations of such Person issued or assumed as the deferred purchase
price of assets or services purchased by such Person (other than trade debt incurred in the ordinary course of business) which
would appear as liabilities on a balance sheet of such Person, (e) all obligations of such Person under take-or-pay or similar
arrangements, (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any Lien on, or payable out of the proceeds of production from, assets owned or acquired by such
Person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees of such Person with respect to Indebtedness
of another Person, (h) Capital Lease Obligations of such Person, (i) the maximum amount of all standby letters of credit issued
or bankers’ acceptances facilities created or similar instruments for the account of such Person and, without duplication,
all drafts drawn thereunder (to the extent unreimbursed), as reduced from time to time, (j) all Disqualified Equity, (k) the principal
balance outstanding under any synthetic lease, tax retention operating lease, accounts receivable securitization program, off-balance
sheet loan or similar off-balance sheet financing product, based on the amount that would be deemed outstanding thereunder if such
transaction was structured as a secured financing on balance sheet, (l) the Indebtedness of any partnership in which such Person
is a general partner, (m) obligations under any earn-out or similar obligations determined in accordance with GAAP, (n) the portion
of indebtedness of any unincorporated joint venture in which such Person is a general partner or a joint venturer that is pro rata
to such Person’s ownership interest in such joint venture and (o) buyback obligations to the extent such obligations exceed
the associated asset value set forth in the financial statements of Alta Group and its Subsidiaries.

 

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

 

“Indemnitee”
has the meaning assigned to such term in Section 10.03(b).

 

    -17-

     

    

 

“Ineligible
Institution” has the meaning assigned to it in Section 10.04(b).

 

“Intercreditor
Agreements” means, collectively, the First Lien Intercreditor Agreement and any other intercreditor agreement in form
and substance acceptable to the Required Purchasers in their sole discretion

 

“Interest
Expense” means, with reference to any period, total interest expense (including that attributable to Capital Lease Obligations)
of Alta Group and its Subsidiaries for such period with respect to all outstanding Indebtedness of Alta Group and its Subsidiaries
(including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptances
and net costs under Swap Agreements in respect of interest rates, to the extent such net costs are allocable to such period in
accordance with GAAP), calculated for Alta Group and its Subsidiaries on a consolidated basis for such period in accordance with
GAAP.

 

“Interest
Payment Date” means (a) with respect to any Note accruing interest at the CB Floating Rate, the first Business Day of
each month, and (b) with respect to any Note accruing interest at the Adjusted LIBO Rate, the last day of each Interest Period
applicable to such Notes.

 

“Interest
Period” means with respect to any Note, the period commencing on the Effective Date and ending on the numerically corresponding
day in the calendar month that is three months thereafter; provided, that (a) if any Interest Period would end on a day other than
a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business
Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and
(b) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month
of such Interest Period.

 

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

 

“IPO Cash
Common Equity” has the meaning assigned to such term in Section 3.29.

 

“IRS”
means the United States Internal Revenue Service.

 

“Issuer”
and “Issuers” means, individually or collectively as required by the context, Alta Group and its Subsidiaries.

 

“Issuer Materials”
has the meaning assigned to such term in Section 10.12(b).

 

    -18-

     

    

 

“Issuer Representative”
means Alta Group in its capacity as representative of the Issuers as set forth in Section 2.20.

 

“LIBO Rate”
means, with respect any Note bearing interest by reference to the Adjusted LIBO Rate for any applicable Interest Period or at any
time any Note bears interest by reference to the CB Floating Rate, the London interbank offered rate as administered by IBA (or
any other Person that takes over the administration of such rate for dollars) for a period equal in length to such Interest Period
as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate or, in the event such rate does not appear
on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate
page of such other information service that publishes such rate from time to time as shall be selected by the Administrative Agent
in its reasonable discretion (in each case, the “LIBO Screen Rate”) at approximately 11:00 a.m., London time,
two (2) Business Days prior to the commencement of such Interest Period; provided that, (x) if the LIBO Screen Rate shall be less
than zero, such rate shall be deemed to be zero for the purposes of this Agreement and (y) if the LIBO Screen Rate shall not be
available at such time for a period equal in length to such Interest Period (an “Impacted Interest Period”),
then the LIBO Rate shall be the Interpolated Rate at such time, subject to Section 2.13 in the event that the Administrative Agent
shall conclude that it shall not be possible to determine such Interpolated Rate (which conclusion shall be conclusive and binding
absent manifest error); provided further, that, if any Interpolated Rate shall be less than zero, such rate shall be deemed to
be zero for purposes of this Agreement. Notwithstanding the above, to the extent that “LIBO Rate” or “Adjusted
LIBO Rate” is used in connection with a Note accruing interest by reference to the CB Floating Rate, such rate shall be determined
as modified by the definition of Adjusted One Month LIBOR Rate.

 

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

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of Equity Interests or securities, any purchase option, call or similar right of a third party
with respect to such Equity Interests or securities.

 

“Liftech”
means Liftech Equipment Companies, Inc., a New York corporation.

 

“Liftech Acquisition”
means the Acquisition of substantially all the assets of Liftech by NITCO described in the Liftech Acquisition Agreement and the
other Liftech Acquisition Documents.

 

“Liftech Acquisition
Agreement” means the Asset Purchase Agreement dated on or before the Effective Date among Liftech, NITCO and Joseph Verzino
in the form delivered to the Purchasers prior to the date of this Agreement.

 

“Liftech Acquisition
Documents” means the Liftech Acquisition Agreement and each other material agreement effecting the Liftech Acquisition,
including, without limitation, any escrow agreement, management agreement, non-competition agreement, bonus agreement, retention
agreement, employment agreement for any officer or other senior management employee and other similar agreements.

 

    -19-

     

    

 

“Liftech Assignment
of Representations and Warranties” means that certain Assignment of Representations, Warranties, Covenants and Indemnities
dated as of the Effective Date under the terms of which NITCO collaterally assigns to the Administrative Agent its rights and benefits
under the Liftech Acquisition Agreement.

 

“Make-Whole
Amount” means at the time of computation, and to the extent required under Section 2.10(b), the sum at such time of
(a) the amount of interest that would have been payable on the aggregate principal amount of the Notes being prepaid, repaid,
or accelerated if such principal amount had been outstanding from the date of prepayment, repayment, or acceleration through and
including the first anniversary of the Effective Date, calculated using an interest rate equal to (i) the Adjusted LIBO Rate for
the applicable Interest Period then in effect on the third Business Day prior to such prepayment, repayment, or acceleration plus
(ii) 8.00% per annum, discounted to the date of prepayment, repayment, or acceleration at a rate equal to the Treasury Rate plus
0.5%, plus (b) the amount of any premium that would be payable pursuant to Subsection 2.10(c) on the aggregate principal amount
of the Notes being repaid, prepaid, or accelerated if such prepayment, repayment, or acceleration were to be made or to occur
on the day after the first anniversary of the Effective Date but prior to the second anniversary of the Effective Date, in each
case.

 

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

 

“Material
Adverse Effect” means a material adverse effect on (a) the business, assets, property or financial condition of the Notes
Parties, taken as a whole, (b) the ability of the Notes Parties to perform any of their Obligations or (c) the rights of or benefits
available to the Purchasers under the Notes Documents, including, without limitation, the Collateral and the priority of the Administrative
Lien’s thereon.

 

“Material
Agreement” means any agreement listed on Schedule 3.20.

 

“Material
Indebtedness” means Indebtedness (other than the Notes), or obligations in respect of one or more Swap Agreements, of
any one or more of the Notes Parties in an aggregate principal amount exceeding $5,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the “obligations” of any Notes Party in respect of
any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Notes
Party would be required to pay if such Swap Agreement were terminated at such time.

 

“Maturity
Date” means the earlier of (a) the date that all Notes shall become due and payable in full hereunder, whether by acceleration
or otherwise, and (b) August 13, 2025.

 

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

 

“Mortgages”
means any mortgage, deed of trust or other agreement from any Notes Party granting a Lien on any of its real property delivered
in connection with any Notes Document at any time, after the Effective Date, each in form and substance reasonably satisfactory
to the Required Purchasers, entered into by any Notes Party at any time for the benefit of the Secured Parties pursuant to this
Agreement, as amended or otherwise modified from time to time.

 

    -20-

     

    

 

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

 

“Net Book
Value” means the net book value of any asset, taking into account diminutions, depreciations and other accounting charges,
determined in accordance with GAAP.

 

“Net Cash
Proceeds” means, without duplication (a) in connection with any sale or other disposition of any asset or any settlement
by, or receipt of payment in respect of, any property insurance claim or condemnation award, the cash proceeds (including any cash
payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment
receivable or otherwise, but only as and when received) of such sale, settlement or payment, net of documented attorneys’
fees, accountants’ fees, investment banking fees, amounts required to be applied to the repayment of Indebtedness secured
by a Lien expressly permitted hereunder on any asset which is the subject of such sale, insurance claim or condemnation award (other
than any Lien in favor of the Administrative Agent for the benefit of the Secured Parties) and other fees actually incurred in
connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof and of any other costs incurred
in connection with such sale, disposition, settlement or receipt and (b) in connection with any issuance or sale of any equity
securities or debt securities or instruments or the incurrence of loans, the cash proceeds received from such issuance or incurrence,
net of investment banking fees, documented attorneys’ fees, accountants’ fees, underwriting discounts and commissions
and other fees and expenses actually incurred in connection therewith.

 

“Net Income”
means, for any period, the consolidated net income (or loss) determined for Alta Group and its Subsidiaries, on a consolidated
basis in accordance with GAAP; provided that the following shall be excluded from the calculation of Net Income: (a) the income
(or deficit) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with Alta Group
or any Subsidiary, (b) the income (or deficit) of any Person (other than a Subsidiary) in which Alta Group or any Subsidiary has
an ownership interest, except to the extent that any such income is actually received by Alta Group or such Subsidiary in the form
of dividends or similar distributions and (c) the undistributed earnings of any Subsidiary (other than an Issuer), to the extent
that the declaration or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms
of any contractual obligation (other than under any Notes Document) or Requirement of Law applicable to such Subsidiary.

 

“NITCO”
means NITCO, LLC, a Michigan limited liability company.

 

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

 

“Notes Documents”
means this Agreement, any promissory notes issued pursuant to this Agreement, the Collateral Documents, the Intercreditor Agreements,
the Subordination Agreements, and all other agreements, instruments, documents and certificates executed and delivered to, or in
favor of, the Administrative Agent or any Purchaser and including all other pledges, powers of attorney, intercreditor agreements,
landlord waivers and access agreements, consents, assignments, contracts, notices, letter of credit agreements and all other written
matter whether heretofore, now or hereafter executed by or on behalf of any Notes Party, or any employee of any Notes Party, and
delivered to the Administrative Agent or any Purchaser in connection with this Agreement or the transactions contemplated hereby.
Any reference in the Agreement or any other Notes Document to a Notes Document shall include all appendices, exhibits or schedules
thereto, and all amendments, restatements, supplements or other modifications thereto, and shall refer to the Agreement or such
Notes Document as the same may be in effect at any and all times such reference becomes operative.

 

    -21-

     

    

 

“Notes Parties”
means the Issuers and the Guarantors, if any.

 

“Notes Party
Guaranty” means any guaranty agreements from any Guarantor delivered in connection with any Notes Document at any time
as are requested by the Administrative Agent and its counsel (such request made at the direction of the Required Purchasers), in
each case as amended, restated, supplemented or otherwise modified from time to time.

 

“NYFRB”
means the Federal Reserve Bank of New York.

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest on (including without limitation interest accruing after the maturity
of the Notes and reimbursement obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement
of any insolvency, reorganization or like proceeding relating to any Notes Party, whether or not a claim for post-filing or post-petition
interest is allowed in such proceeding) the Notes, any break funding payments due pursuant to Section 2.15, any Make-Whole Amount
as required by Section 2.10(b), any premium as required by Section 2.10(c), all accrued and unpaid fees and all expenses, reimbursements,
indemnities and other obligations of the Notes Parties to the Purchasers or to any Purchaser, the Administrative Agent or any indemnified
party arising under the Notes Documents, in all cases, individually or collectively, existing on the Effective Date or arising
thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured
or unsecured, arising by contract, operation of law or otherwise, arising or incurred under this Agreement or any of the other
Notes Documents or in respect of any of the Notes purchased or reimbursement or other obligations incurred or instruments at any
time evidencing any thereof.

 

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

 

“Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such
Recipient and the jurisdiction imposing such Taxes (other than a connection arising from such Recipient having executed, delivered,
enforced, become a party to, performed its obligations under, received payments under, received or perfected a security interest
under, or engaged in any other transaction pursuant to, or enforced, any Notes Document), or sold or assigned an interest in any
Note or Notes Document.

 

    -22-

     

    

 

“Other Taxes”
means any present or future stamp, court, documentary intangible, recording, filing or similar other excise or property Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Notes Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment by a Purchaser after the date of this Agreement (other than an
assignment under Section 2.18(b) or made at the request of any Notes Party).

 

“Paid in Full”
or “Payment in Full” means, (a) the indefeasible payment in full in cash of all outstanding Notes, together
with accrued and unpaid interest thereon, any break funding payments due pursuant to Section 2.15, any Make-Whole Amount as required
by Section 2.10(b) and any premium as required by Section 2.10(c), (b) the indefeasible payment in full in cash of all accrued
and unpaid fees, and (c) the indefeasible payment in full in cash of all reimbursable expenses and other Secured Obligations (other
than Unliquidated Obligations for which no claim has been made and other obligations expressly stated to survive such payment and
termination of this Agreement), together with accrued and unpaid interest thereon.

 

“Payment Condition”
shall be deemed to be satisfied in connection with a Restricted Payment or Permitted Acquisition if:

 

(a) no
Default has occurred and is continuing or would result immediately after giving effect to such Restricted Payment or Permitted
Acquisition;

 

(b) immediately
after giving effect to such Restricted Payment plus any prepayment of the Obligations that may be required pursuant to such Restricted
Payment or Permitted Acquisition and at all times during the 60-day period immediately prior to such Restricted Payment (and any
prepayment of the Obligations that may be required pursuant to such Restricted Payment) or Permitted Acquisition, the Issuers shall
have Availability calculated on a on a pro forma basis acceptable to the Required Purchasers of not less than 17.5% of the Revolving
Commitment; and

 

(c) the
Issuer Representative shall have delivered to the Purchasers a certificate in form and substance reasonably satisfactory to the
Purchasers certifying as to the items described in (a) and (b) above and attaching calculations for item (b) in form and substance
satisfactory to the Required Purchasers.

 

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

 

“Permitted
Acquisition” means any Acquisition by a Notes Party in a transaction that (a) is consented to in writing by Administrative
Agent at the direction of Required Purchasers in their sole discretion or (b) otherwise satisfies each of the following requirements:

 

(i) such
Acquisition is not a hostile or contested Acquisition;

 

(ii) the
business acquired in connection with such Acquisition (A) is not engaged, directly or indirectly, in any line of business other
than the businesses in which the Notes Parties are engaged on the Effective Date and any business activities that are substantially
similar, related, or incidental thereto and (B) shall have generated a positive amount of earnings before income taxes, depreciation
and amortization (calculated in substantially the same manner as Pro Forma EBITDA less any noncash gains or losses on the sale
of fixed or capital assets offset for gains from the sale of fixed or capital assets calculated (x) at the price at which the applicable
business sold the applicable asset, minus (y) such business’s initial purchase price of such asset (for the avoidance of
doubt, without reducing this clause (y) for any depreciation or amortization thereof)), less unfinanced Capital Expenditures, during
the twelve-month period most recently ended prior to the date of such Acquisition;

 

    -23-

     

    

 

(iii) both
before and after giving effect to such Acquisition and other Indebtedness incurred in connection therewith on a pro forma basis
acceptable to the Required Purchasers, (A) each of the representations and warranties in the Notes Documents is true and correct,
(B) the Total Leverage Ratio is at least (1) 0.30 below the level required by Section 6.13(a) for any Acquisition consummated during
the Fiscal Year ending December 31, 2020 and (2) 0.25 below the level required by Section 6.13(a) for any Acquisition consummated
during the Fiscal Year ending December 31, 2021 and each Fiscal Year thereafter, (C) Issuers and their Subsidiaries shall be in
compliance with the financial covenants set forth in Section 6.13 on a pro forma basis after giving effect to such Acquisition
as of the last day of the Fiscal Quarter most recently ended for which financial statements have been delivered to the Purchasers
in accordance with Section 5.01(b)(i), and (D) the Payment Condition is satisfied;

 

(iv) as
soon as available, but not less than fifteen (15) days (or such shorter period agreed to by the Administrative Agent (at the direction
of Required Purchasers)) prior to such Acquisition, the Issuer Representative shall have provided the Purchasers (A) notice of
such Acquisition and (B) a copy of all business and financial information reasonably requested by the Administrative Agent (at
the direction of Required Purchasers), including pro forma financial statements, statements of cash flow, availability projections,
a quality of earnings analysis and a certificate, in form and detail satisfactory to the Required Purchasers, demonstrating compliance
with the requirements set forth in clause (iii) above;

 

(v) if
such Acquisition is an acquisition of the Equity Interests of a Person, the Acquisition is structured so that the acquired Person
shall become a wholly-owned Subsidiary of an Issuer and a Guarantor pursuant to and accordance with the terms of this Agreement;
and

 

(vi) no
Notes Party shall, as a result of or in connection with any such Acquisition, assume or incur any direct or contingent liabilities
(whether relating to environmental, tax, litigation, or other matters) that could reasonably be expected to have a Material Adverse
Effect.

 

“Permitted
Discretion” means a determination made in good faith and in the exercise of reasonable business judgment.

 

    -24-

     

    

 

“Permitted
Encumbrances” means:

 

(a) Liens
imposed by law for taxes that are not yet due or are being contested in compliance with Section 5.04;

 

(b) carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in
the ordinary course of business and securing obligations that are not overdue by more than thirty (30) days or are being contested
in compliance with Section 5.04;

 

(c) Liens
(other than any Lien imposed by ERISA) consisting of pledges and deposits made in the ordinary course of business in compliance
with workers’ compensation, unemployment insurance and other social security laws or regulations;

 

(d) deposits
or pledges to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case in the ordinary course of business;

 

(e) judgment
liens in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII;

 

(f) easements,
zoning restrictions, licenses, title restrictions, rights-of-way and similar encumbrances on real property imposed by law or incurred
or granted by any Notes Party in the ordinary course of business that do not secure any monetary obligations and do not materially
detract from the value of the affected property or interfere with the ordinary conduct of business of any Notes Party; and

 

(g) minor imperfections
in title that do not materially detract from the value of the affected property or interfere with the ordinary conduct of business
of any Notes Party;

 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.

 

“Permitted
Investments” means:

 

(a) direct
obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the U.S. (or by any agency
thereof to the extent such obligations are backed by the full faith and credit of the U.S.), in each case maturing within one (1)
year from the date of acquisition thereof;

 

(b) investments
in commercial paper maturing within two hundred seventy (270) days from the date of acquisition thereof and having, at such date
of acquisition, the highest credit rating obtainable from S&P or from Moody’s;

 

(c) investments
in certificates of deposit, banker’s acceptances and time deposits maturing within one hundred eighty (180) days from the
date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any
domestic office of any commercial bank organized under the laws of the U.S. or any state thereof which has a combined capital and
surplus and undivided profits of not less than $500,000,000;

 

    -25-

     

    

 

(d) fully
collateralized repurchase agreements with a term of not more than thirty (30) days for securities described in clause (a) above
and entered into with a financial institution satisfying the criteria described in clause (c) above; and

 

(e) money
market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the Investment Company
Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000.

 

“Permitted
Investors” means Greenawalt, Anthony J. Colucci, Robert T. Chiles, Craig F. Brubaker, Alan Hammersley, Richard A. Papalia,
and Sponsor.

 

“Permitted
Restricted Payment Amount” means, as of any date in any fiscal year, an amount equal to 2% of the aggregate outstanding
principal amount of the Notes as of such date in such Fiscal Year.

 

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

 

“PIPE Cash
Common Equity” has the meaning assigned to such term in Section 3.29.

 

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

 

“Prepayment
Events” means:

 

(a) any
Sale (including pursuant to a sale and leaseback transaction) of any property or asset of any Notes Party or any Subsidiary with
a fair market value equal to or greater than $2,500,000, other than dispositions described in Section 6.03(a)(i); or

 

(b) Event
of Loss in respect of any property or asset of any Notes Party or any Subsidiary with a fair value immediately prior to such event
equal to or greater than $2,500,000; or

 

(c) the
incurrence by any Notes Party or any Subsidiary of any Indebtedness, other than Indebtedness permitted under Section 6.01.

 

“Prepayment
Offer Period” has the meaning assigned to such term in Section 2.09(c)(i).

 

“Prime Rate”
means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street
Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve
Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer
quoted therein, any similar rate quoted therein (as determined by the Required Purchasers) or any similar release by the Federal
Reserve Board (as determined by the Required Purchasers). Each change in the Prime Rate shall be effective from and including the
date such change is publicly announced or quoted as being effective.

 

    -26-

     

    

 

“Principal
Office” means the Administrative Agent’s office located at 214 N. Tryon Street, 27th Floor, Charlotte NC 28202-1078,
or such other office as the Administrative Agent may from time to time designate in writing to Issuer Representative and each Purchaser;
provided, however, that for the purpose of making any payment on the Obligations or any other amount due hereunder
or any other Notes Document, the Principal Office of Administrative Agent shall be Charlotte, NC (or such other location as Administrative
Agent may from time to time designate in writing to Issuer and each Purchaser).

 

“Pro Forma
EBITDA” means, with respect to any period, Consolidated EBITDA of the target business of any Permitted Acquisition calculated
with respect to such period on a pro forma basis (including pro forma adjustments approved by Required Purchasers in their Permitted
Discretion) using the historical financial statements of any business acquired or to be acquired and the consolidated financial
statements of Alta Group and its Subsidiaries, which shall be reformulated as if such Permitted Acquisition, and any Indebtedness
incurred or repaid in connection therewith, had been consummated or incurred at the beginning of such period (and assuming that
such Indebtedness bears interest during any portion of the applicable measurement period prior to the relevant acquisition at the
weighted average of the interest rates applicable to outstanding Indebtedness incurred during such period).

 

“Public Purchaser”
has the meaning assigned to such term in Section 10.12(b).

 

“Purchasers”
means the Persons listed on the Commitment Schedule and any other Person that shall have become a party hereto pursuant
to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

 

“Quarterly
Prepayment Offer” has the meaning assigned to such term in Section 2.09(a).

 

“Rating”
means the debt rating of the Notes as determined from time to time by Egan Jones Rating Company.

 

“Recipient”
means, as applicable, (a) the Administrative Agent and (b) any Purchaser.

 

“Register”
has the meaning assigned to such term in Section 2.08(b).

 

“Regulation
T” means Regulation T of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
U” means Regulation U of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Regulation
X” means Regulation X of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations
thereunder or thereof.

 

“Rejection
Notice” has the meaning assigned to such term in Section 2.09(d).

 

    -27-

     

    

 

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

 

“Relevant
Governmental Body” means the Federal Reserve Board and/or the NYFRB, or a committee officially endorsed or convened by
the Federal Reserve Board and/or the NYFRB or, in each case, any successor thereto.

 

“Replacement
Purchaser” has the meaning assigned to such term in Section 2.18(b).

 

“Reports”
has the meaning assigned to such term in Article VIII.

 

“Required
Purchasers” means, (a) prior to the Effective Date, the Purchasers party to this Agreement, and (b) at any time on or
after the Effective Date, the holders of more than 662⁄3% in principal amount of the Notes at the time outstanding (exclusive
of Notes then owned by any Issuer or any of its Affiliates).

 

“Requirement
of Law” means, as to any Person, the certificate of incorporation and bylaws, certificate of organization and operating
agreement, or other organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination
of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject.

 

“Restricted
Payment” means (a) any dividend or other distribution (whether in cash, securities or other property) with respect to
any Equity Interests of any Notes Party, (b) any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such
Equity Interests in the any Notes Party or any option, warrant or other right to acquire any such Equity Interests in any Notes
Party or (c) management fees, agency fees or other fees or similar amounts payable by any Notes Party to any of its Affiliates.

 

“Restricted
Payment Prepayment Amount” means the amount that the aggregate amount of all Restricted Payments made or to be made by
Alta Group in any Fiscal Year pursuant to Section 6.06(c) exceeds 2% of the aggregate outstanding principal amount of the Notes
as of such date in such Fiscal Year.

 

“Restricted
Payment Prepayment Date” has the meaning assigned to such term in Section 2.09(b).

 

“Restricted
Payment Prepayment Offer” has the meaning assigned to such term in Section 2.09(b).

 

“Revolving
Commitment” means the “Revolving Commitment” as defined in the First Lien Credit Agreement as in effect on
the date of this Agreement.

 

“S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.

 

    -28-

     

    

 

“Sale”
means the sale, lease, conveyance or other disposition of any assets, other than an Event of Loss.

 

“Sanctioned
Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at
the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria).

 

“Sanctioned
Person” means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including (a)
any Person listed in any Sanctions-related list of designated Persons maintained by the United States (including by OFAC, the U.S.
Department of the Treasury, or the U.S. Department of State), or by the United Nations Security Council, the European Union or
any EU member state, Her Majesty’s Treasury of the United Kingdom or any other relevant sanctions authority, (b) any Person
located, operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled, directly or indirectly,
by any such Person described in clause (a) or (b) of this definition, or (d) any other Person subject to any Sanctions.

 

“Sanctions”
means sanctions or trade embargoes enacted, imposed, administered or enforced from time to time by (a) the U.S. government, including
those administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), U.S. Department of State,
or U.S. Department of Commerce, (b) the United Nations Security Council, the European Union or any of its member states, Her Majesty’s
Treasury of the United Kingdom, (c) Canada (or any provincial government) or (d) any other relevant sanctions authority.

 

“SEC”
means the Securities and Exchange Commission or any Governmental Authority succeeding to any or all of the functions of said Commission.

 

“Secured Obligations”
means the Obligations.

 

“Secured Parties”
means the holders of the Secured Obligations from time to time and shall include (a) each Purchaser in respect of its Notes, (b)
the Administrative Agent and the Purchasers in respect of all other present and future obligations and liabilities of the each
Notes Party of every type and description arising under or in connection with this Agreement or any other Notes Document, (c) each
indemnified party under Section 10.03 in respect of the obligations and liabilities of the Issuers to such Person hereunder and
under the other Notes Documents, and (d) their respective successors and (in the case of a Purchaser, permitted) transferees and
assigns.

 

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

 

“Security
Agreement” means each security agreement, pledge agreement, pledge and security agreement and similar agreement and any
other agreement from any Notes Party granting a Lien on any of its personal property (including without limitation any Equity Interests
owned by such Notes Party) delivered in connection with any Notes Document at any time (either before, concurrently or after the
Effective Date), each in form and substance acceptable to the Required Purchasers, entered into by any Notes Party at any time
for the benefit of the Administrative Agent and the Purchasers pursuant to this Agreement, as amended or otherwise modified from
time to time.

 

    -29-

     

    

 

“Showroom
Ready Debt” means any Indebtedness (including, without limitation, any Floor Plan Obligations) or other obligations of
any Notes Party related to the acquisition of equipment of a Note Party which is either: (a) held by such Notes Party as new equipment
that has not been rented, is undamaged, saleable, complete, has less than 100 hours of use and is less than one (1) year old from
the date of delivery to such Notes Party; or (b) Volvo used (including certified refurbished) equipment that has not been rented,
is undamaged, saleable, complete, and is less than nine (9) months from the date of delivery to such Notes Party.

 

“SOFR”
with respect to any day means the secured overnight financing rate published for such day by the NYFRB, as the administrator of
the benchmark (or a successor administrator), on the Federal Reserve Bank of New York’s Website.

 

“SOFR-Based
Rate” means SOFR, Compounded SOFR or Term SOFR.

 

“Sponsor”
means, collectively, B. Riley Financial, Inc., a Delaware corporation (“B. Riley Financial”) and any Affiliates
of B. Riley Financial which are (a) directly or indirectly controlled by B. Riley Financial and (b) organized primarily for making
debt and/or equity investments in one or more companies.

 

“Statements”
has the meaning assigned to such term in Section 2.17(f).

 

“Statutory
Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator
of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or
supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject with respect
to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation
D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Notes accruing interest at
the Adjusted LIBO Rate shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without
benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Purchaser under such Regulation
D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any
change in any reserve percentage.

 

“Subordinated
Debt” means any Indebtedness or other obligations of any Notes Party satisfying each of the following conditions: (a)
the payment and priority thereof is subordinated to the payment of the Secured Obligations, including customary payment blockage
and other customary provisions, all in a manner, including a Subordination Agreement, reasonably satisfactory to the Required Purchasers,
(b) any maturity thereof is reasonably acceptable to the Required Purchasers, and (c) the other terms and conditions thereof, including
pricing, covenants and defaults, are otherwise reasonably satisfactory to the Required Purchasers.

 

“Subordinated
Debt Documents” means any document, agreement or instrument evidencing any Subordinated Debt or entered into in connection
with any Subordinated Debt.

 

“Subordination
Agreements” means, collectively, all subordination agreements among the Administrative Agent, the Notes Parties and the
holders of any Subordinated Debt with respect to Subordinated Debt in form and substance satisfactory to the Required Purchasers
and as amended or modified from time to time as permitted hereunder.

 

    -30-

     

    

 

“subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership,
association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are,
as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more
subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.

 

“Subsidiary”
means any subsidiary of any Notes Party.

 

“Swap Agreement”
means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving,
or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination
of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided
by current or former directors, officers, employees or consultants of the Issuers or the Guarantors, if any, shall be a Swap Agreement.

 

“Swap Obligations”
of a Person means any and all obligations of such Person (including interest and fees accruing during the pendency of any bankruptcy,
insolvency, receivership or other similar proceedings, regardless of whether allowed or allowable in such proceedings), whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions
and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements permitted hereunder, and (b) any and
all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction.

 

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

 

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

 

“Total Leverage
Ratio” means, as of any date, the ratio of (a) Consolidated Total Debt as of such date, to (b) Consolidated EBITDA less
(i) any noncash gains or losses on the sale of fixed or capital assets offset for gains from the sale of fixed or capital assets
calculated (A) at the price at which the applicable Notes Party sold the applicable asset, minus (B) such Note Party’s initial
purchase price of such asset (for the avoidance of doubt, without reducing this clause (B) for any depreciation or amortization
thereof) less (ii) Interest Expense with respect to the Showroom Ready Debt (with Consolidated EBITDA and such Interest Expense
calculated for the four most recently ended four Fiscal Quarters as of such date).

 

    -31-

     

    

 

“Transactions”
means the execution, delivery and performance by the Notes Parties of the Notes Documents, the purchasing of the Notes and other
credit extensions, the use of the proceeds thereof, the B. Riley Merger/Equity Transactions, the Liftech Acquisition, the Flagler
Acquisition, the execution, delivery and performance by the Notes Parties of the First Lien Loan Documents and Floor Plan Loan
Documents, the borrowing of the First Lien Revolving Loans and Floor Plan Loans on the Effective Date and the transactions related
thereto and the payment of fees and expenses in connection with the foregoing.

 

“Treasury
Rate” means as of the date of any repayment, prepayment, or acceleration of the Notes, the yield to maturity as of such
date of the United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to such date (or, if such Statistical
Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such
date to the first anniversary of the Effective Date; provided, however, that if the period from such date to the first anniversary
of the Effective Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted
to a constant maturity of one year will be used.

 

“U.S.”
means the United States of America.

 

“U.S. Person”
means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S. Tax
Compliance Certificate” has the meaning assigned to such term in Section 2.16(f)(ii)(B)(3).

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which
are required to be applied in connection with the issue of perfection of security interests.

 

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

 

“Unliquidated
Obligations” means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or unliquidated
at such time, including any Secured Obligation that is: (a) an obligation to reimburse a bank for drawings not yet made under a
letter of credit issued by it; (b) any other obligation (including any Guarantee) that is contingent in nature at such time; or
(c) an obligation to provide collateral to secure any of the foregoing types of obligations.

 

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

 

“Volvo”
means Volvo Construction Equipment North America, LLC.

 

    -32-

     

    

 

“Warrant”
means that certain Purchase Warrant for Common Units No. W-1 issued by Alta Enterprises to Goldman Sachs & Co. LLC on December
27, 2017, as amended, restated, supplemented or otherwise modified from time to time.

 

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

 

“Withholding
Agent” means any Notes Party and the Administrative Agent.

 

“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.

 

Section 1.02 [Reserved].

 

Section 1.03 Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
The word “law” shall be construed as referring to all statutes, rules, regulations, codes and other laws (including
official rulings and interpretations thereunder having the force of law or with which affected Persons customarily comply) and
all judgments, orders and decrees of all Governmental Authorities. The word “will” shall be construed to have the
same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference
to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document
as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements,
supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation shall be
construed as referring thereto as from time to time amended, supplemented or otherwise modified (including by succession of comparable
successor laws), (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns
(subject to any restrictions on assignments set forth herein) and, in the case of any Governmental Authority, any other Governmental
Authority that shall have succeeded to any or all functions thereof, (d) the words “herein”, “hereof”
and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not
to any particular provision hereof, (e) all references herein to Articles, Sections, Exhibits and Schedules shall be construed
to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (f) any reference in any definition to the
phrase “at any time” or “for any period” shall refer to the same time or period for all calculations
or determinations within such definition, and (g) the words “asset” and “property” shall
be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights.

 

    -33-

     

    

 

Section 1.04 Accounting
Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed
in accordance with GAAP, as in effect from time to time; provided that, if the Issuers notify the Administrative Agent that the
Issuers request an amendment to any provision hereof to eliminate the effect of any change occurring after the date of this Agreement
in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Issuers
that the Required Purchasers request an amendment to any provision hereof for such purpose), regardless of whether any such notice
is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis
of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been
withdrawn or such provision amended in accordance herewith. For purposes of calculating all financial covenants, all other covenants
and, in each case, all defined terms used therein, any Acquisition or any sale or other disposition outside the ordinary course
of business by any Notes Party of any asset or group of related assets in one or a series of related transactions, including the
incurrence of any Indebtedness and any related financing or other transactions in connection with any of the foregoing, occurring
during the period for which such matters are calculated shall be deemed to have occurred on the first day of the relevant period
for which such matters were calculated on a pro forma basis acceptable to the Required Purchasers. Notwithstanding any other provision
contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts
and ratios referred to herein shall be made (a) without giving effect to any election under Financial Accounting Standards Board
Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having
a similar result or effect) to value any Indebtedness or other liabilities of any Notes Party at “fair value”, as
defined therein and (b) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under
Financial Accounting Standards Board Accounting Standards Codification 470-20 (or any other Accounting Standards Codification
or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated
manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

 

Section 1.05 Interest
Rates; LIBOR Notification. The interest rate on the Notes is determined by reference to the LIBO Rate, which is derived from
the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks
may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority
announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the
ICE Benchmark Administration (together with any successor to the ICE Benchmark Administration, the “IBA”) for
purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London
interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine
the interest rate on the Notes. In light of this eventuality, public and private sector industry initiatives are currently underway
to identify new or alternative reference rates to be used in place of the London interbank offered rate. Upon the occurrence of
a Benchmark Transition Event or an Early Opt-In Election, such Section 2.13(c) provides a mechanism for determining an alternative
rate of interest. The Administrative Agent (as directed by the Required Purchasers) will promptly notify the Issuer Representative,
pursuant to Section 2.13(e), of any change to the reference rate upon which the interest rate on the Notes is based. However,
the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to,
the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition
of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, (including,
without limitation, (i) any such alternative, successor or replacement rate implemented pursuant to Section 2.13(c), whether upon
the occurrence of a Benchmark Transition Event or an Early Opt-in Election, and (ii) the implementation of any Benchmark Replacement
Conforming Changes pursuant to Section 2.13(d)) including without limitation, whether the composition or characteristics of any
such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence
of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or
unavailability.

 

    -34-

     

    

 

Section 1.06 Status
of Obligations. In the event that any Issuer or any other Note Party shall at any time issue or have outstanding any Subordinated
Debt, such Issuer shall take or cause such other Note Party to take all such actions as shall be necessary to cause the Secured
Obligations to constitute senior indebtedness (however denominated) in respect of such Subordinated Debt and to enable the Administrative
Agent and the Purchasers to have and exercise any payment blockage or other remedies available or potentially available to holders
of senior indebtedness under the terms of such Subordinated Debt. Without limiting the foregoing, the Secured Obligations are
hereby designated as “senior indebtedness” and as “designated senior indebtedness” and words of similar
import under and in respect of any indenture or other agreement or instrument under which such Subordinated Debt is outstanding
and are further given all such other designations as shall be required under the terms of any such Subordinated Debt in order
that the Purchasers may have and exercise any payment blockage or other remedies available or potentially available to holders
of senior indebtedness under the terms of such Subordinated Debt.

 

ARTICLE II

The
Credits

 

Section 2.01 Commitments.

 

(a) Notes.
Subject to the terms and conditions hereof, the Issuers agree that they will issue and sell to the Purchasers, and the Purchasers
agree that they will acquire from the Issuers on the Effective Date, Notes in the respective aggregate original principal amounts
set forth on the Commitment Schedule hereto (collectively, the “Notes”), each in substantially the form
attached hereto as Exhibit C, appropriately completed in conformity herewith, the purchase price for which shall be such
original principal amount; provided that the purchase price of such Notes shall be funded net of additional interest in an amount
equal to 3.50% of the aggregate principal amount of the Notes, which additional interest shall be non-refundable and deemed to
be fully earned on the Effective Date. Each Purchaser’s commitment to purchase the Notes shall terminate immediately and
without further action on the Effective Date after giving effect to the purchase of the Notes on the Effective Date.

 

(b) Issuance
of Notes. The Notes will be delivered to each Purchaser in fully registered form and shall be issued in its name or the name
of its nominee. Subject to Sections 2.09 and 2.10, all amounts owed hereunder with respect to the Notes shall be paid in full no
later than the Maturity Date.

 

Section 2.02 [Reserved].

 

    -35-

     

    

 

Section 2.03 [Reserved].

 

Section 2.04 [Reserved].

 

Section 2.05 [Reserved].

 

Section 2.06 [Reserved].

 

Section 2.07 [Reserved].

 

Section 2.08 Repayment
of Notes; Register.

 

(a) Maturity.
The Issuers hereby jointly and severally and unconditionally promise to pay to the Administrative Agent for the account of each
Purchaser the outstanding principal amount of the Notes on the Maturity Date together with all accrued but unpaid interest as of
such date.

 

(b) Register.
Administrative Agent, as a non-fiduciary agent of the Issuers, shall maintain at its Principal Office a register for the recordation
of the names and addresses of Purchasers of the Notes (and principal and stated interest owing on such Note) held by each Purchaser
from time to time (the “Register”). The Register shall be available for inspection by the Issuers or any Purchaser
at any reasonable time and from time to time upon reasonable prior notice. Administrative Agent shall record in the Register the
Notes and each repayment or prepayment in respect of the principal amount of the Notes, and any such recordation shall be conclusive
and binding on the Issuers and each Purchaser, absent manifest error; provided, failure to make any such recordation, or
any error in such recordation, shall not affect any Issuer’s Obligations in respect of the Notes. The Issuers hereby designate
the Administrative Agent to serve as Issuers’ agent solely for purposes of maintaining the Register as provided in this Section 2.08,
and each Issuer hereby agrees that, to the extent such entity serves in such capacity, the Administrative Agent and its officers,
directors, employees, agents and affiliates shall constitute “Indemnitees.” No assignment or transfer of a Note shall
be effective unless recorded in the Register. The parties intend that the Register be maintained such that the Notes are in “registered
form” for the purposes of the Code.

 

Section 2.09 Mandatory
Offers of Prepayment.

 

(a) Quarterly
Offers Of Prepayment. No more than fifteen (15) Business Days and not less than ten (10) Business Days prior to each Interest
Payment Date, the Issuers shall make an irrevocable written offer (each, a “Quarterly Prepayment Offer”) to
the Purchasers to prepay the Notes on such Interest Payment Date in an amount equal to 1.25% of the aggregate principal amount
of the Notes outstanding as of the Effective Date. All such amounts offered to be prepaid pursuant to this Section 2.09(a) shall
be applied pro rata to the Notes. Such prepayments shall be at par together with accrued interest.

 

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(b) Restricted
Payment Offers of Prepayment. No more than fifteen (15) Business Days and not less than ten (10) Business Days prior to the
making of any Restricted Payment under Section 6.06(c) in excess of the Permitted Restricted Payment Amount in any Fiscal Year
(the amount of all Restricted Payments made pursuant to Section 6.06(c) in any Fiscal Year and such proposed Restricted Payment
to be determined on a cumulative basis after giving effect to all Restricted Payments previously made and proposed to be made during
such Fiscal Year), the Issuers shall make an irrevocable written offer (each, a “Restricted Payment Prepayment Offer”)
to the Purchasers to prepay the Notes on or prior to the date such Restricted Payment is made (each, a “Restricted Payment
Prepayment Date”) in an aggregate amount equal to the Restricted Payment Prepayment Amount. All such amounts offered
to be prepaid pursuant to this Section 2.09(b) shall be applied pro rata to the Notes. Such prepayments shall be at par together
with accrued interest on the amounts prepaid and any break funding payments due pursuant to Section 2.15.

 

(c) Offer
of Prepayment Notice; Acceptance.

 

(i) Each
Quarterly Prepayment Offer and each Restricted Payment Prepayment Offer shall remain open for a period of at least seven (7) Business
Days following receipt by the Purchasers of the written offer referred to in Section 2.09(a) and Section 2.09(b), as applicable
(the “Prepayment Offer Period”). Each such written offer shall be irrevocable and shall:

 

(A) with
respect to each Quarterly Prepayment Offer, (1) refer to Section 2.09(a) and the rights of the Purchasers thereunder, (2) specify
the applicable Interest Payment Date, and (3) state the principal amount of each Note or portion thereof being offered to be prepaid
together with accrued interest; and

 

(B) with
respect to each Restricted Payment Prepayment Offer, (1) describe the facts and circumstances giving rise to such prepayment, (2)
refer to Section 2.09(b) and the rights of the Purchasers thereunder, (3) specify the Restricted Payment Prepayment Date, (4) state
the aggregate principal amount of the Notes being offered to be prepaid, and (5) state the principal amount of each Note or portion
thereof being offered to be prepaid together with accrued interest.

 

(ii) To
accept a Quarterly Prepayment Offer or Restricted Payment Prepayment Offer, the applicable Purchaser shall cause a notice of such
acceptance to be delivered to the Issuers and Administrative Agent no later than 5:00 p.m. New York time on last day of the Prepayment
Offer Period, provided, that failure to accept such offer in writing by such date shall be deemed to constitute a rejection of
such Quarterly Prepayment Offer or Restricted Payment Prepayment Offer, as applicable. If accepted, the prepayment amount together
with accrued interest and, with respect to any prepayment made pursuant to Section 2.09(b), any break funding payments due pursuant
to Section 2.15, shall be due and payable on the applicable Interest Payment Date or Restricted Payment Prepayment Date.

 

(d) Declined
Offers. Each Purchaser may reject all or a portion of its pro rata share of any Quarterly Prepayment Offer or Restricted Payment
Prepayment Offer (each such declined offer, the “Declined Offer”) by providing written notice (each, a “Rejection
Notice”) to the Issuers and the Administrative Agent no later than 5:00 p.m. New York time on the last day of the Prepayment
Offer Period. Each Rejection Notice from a Purchaser shall specify the principal amount of the prepayment of Notes to be rejected
by such Purchaser. The principal amount of any Declined Offer shall first be offered to each Purchaser that initially accepted
such Quarterly Prepayment Offer or Restricted Payment Prepayment Offer, as applicable, on a pro rata basis and in accordance with
the terms of this Section 2.09 with respect to such Quarterly Prepayment Offer or Restricted Payment Prepayment Offer, and thereafter
shall be retained by the Issuers.

 

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Section 2.10 Voluntary
and Mandatory Prepayment of Notes.

 

(a) Voluntary
Prepayments. No Issuer shall prepay the Notes pursuant to this Section 2.10 at any time on or prior to the first anniversary
of the Effective Date. Thereafter, each Issuer shall have the right at any time and from time to time to prepay the Notes in whole.
Prepayments shall be accompanied by accrued interest on the amounts prepaid, any break funding payments due pursuant to Section
2.15, plus, to the extent applicable, any Make-Whole Amount as required by Section 2.10(b) and any premium as required by Section
2.10(c). Any such voluntary prepayment shall be applied as specified in Section 2.10(h).

 

(b) Make-Whole
Amount. Notwithstanding anything contained in Subsection 2.10(a) to the contrary, if at any time on or prior to the first
anniversary of the Effective Date (i) any Issuer prepays all or any part of the Notes pursuant to this Section 2.10 or (ii) the
Notes are accelerated for any reason pursuant to Article VII (with such acceleration being deemed to be a prepayment of the Notes
accelerated or otherwise becoming due for purposes of this Section 2.10), the Issuers shall, in addition to paying all accrued
and unpaid interest on the amount being prepaid, pay a premium on such amount on the date of such prepayment equal to the Make-Whole
Amount determined for the date of such prepayment with respect to the principal amount of the Notes that is to be prepaid or repaid.
Two Business Days prior to such prepayment (or such shorter period of time as the Required Purchasers may agree in their discretion),
the Issuers shall deliver to the Purchasers a certificate of a Financial Officer of Alta Group specifying the calculation of such
Make-Whole Amount as of the specified date of prepayment. The Issuers acknowledge, and the parties hereto agree, that the Purchasers
have the right to maintain their respective investments in the Notes free from repayment by the Issuers (except as herein specifically
provided for) and that the provision for payment of a Make-Whole Amount by the Issuers in the event that the Notes are prepaid,
are repaid or are accelerated as a result of an Event of Default is intended to provide compensation for the deprivation of such
right under such circumstances.

 

(c) Other
Premiums. All prepayments of the Notes made after the first anniversary of the Effective Date either (i) pursuant to Sections
2.10(a) and 2.10(d) or (ii) as a result of the Notes being accelerated for any reason pursuant to Article VII (with such acceleration
being deemed to be a prepayment of the Notes accelerated or otherwise becoming due for purposes of this Section 2.10) shall be
subject to a premium (to be paid to Administrative Agent for the benefit of the Purchasers as liquidated damages and compensation
for the costs of being prepared to make funds available hereunder with respect to the Notes) equal to the amount of such prepayment
multiplied by (i) four percent (4.0%), with respect to prepayments made after the first anniversary of the Effective Date but
on or prior to the second anniversary of the Effective Date, (ii) three percent (3.0%), with respect to prepayments made after
the second anniversary of the Effective Date but on or prior to the third anniversary of the Effective Date and (iii) zero percent
(0.0%), with respect to prepayments made after the third anniversary of the Effective Date.

 

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(d) Prepayment
Event. In the event and on each occasion that any Net Cash Proceeds are received by or on behalf of any Notes Party or any
Subsidiary in respect of any Prepayment Event, the Issuers shall, promptly after such Net Cash Proceeds are received by any Notes
Party or Subsidiary, jointly and severally unconditionally prepay the Notes in an aggregate amount equal to 100% of such Net Cash
Proceeds; provided that, in the case of any event described in clause (a) or (b) of the definition of the term “Prepayment
Events”, if the Issuer Representative delivers to the Administrative Agent a certificate of a Financial Officer of Alta Group
to the effect that the Notes Parties intend to apply the Net Cash Proceeds from such event (or a portion thereof specified in such
certificate), within 180 days after receipt of such Net Cash Proceeds, to acquire (or replace or rebuild) real property, equipment
or other tangible assets to be used in the business of the Notes Parties, and certifying that no Default has occurred and is continuing,
no prepayment shall be required pursuant to this clause (d) in respect of the Net Cash Proceeds specified in such certificate;
provided, further, that to the extent of any such Net Cash Proceeds that have not been so used to acquire (or replace or
rebuild) real property, equipment or other tangible assets to be used in the business of the Notes Parties (or committed to be
so used) by the end of such 180-day period, a prepayment shall be required at such time in an amount equal to such Net Cash Proceeds
that have not been so applied. Prepayments shall be accompanied by accrued interest on the amounts prepaid, any break funding payments
due pursuant to Section 2.15, plus, to the extent applicable, any Make-Whole Amount as required by Section 2.10(b) and any premium
as required by Section 2.10(c). Any such mandatory prepayment shall be applied as specified in Section 2.10(h).

 

(e) [Intentionally
Reserved].

 

(f) Prepayment
Notice. The applicable Issuer shall notify the Administrative Agent by telephone (confirmed by facsimile) or through Electronic
System, if arrangements for doing so have been approved by the Administrative Agent, of any prepayment pursuant to this Section
2.10 by 11:00 a.m., New York time, (i) in the case of a prepayment of any Note accruing interest at the Adjusted LIBO Rate, three
(3) Business Days before the date of prepayment, or (ii) in the case of a prepayment of any Note accruing interest at the CB Floating
Rate, one (1) Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of each Note or portion thereof to be prepaid. Promptly following receipt of any such notice relating
to a Note, the Administrative Agent shall advise the Purchasers of the contents thereof. Each prepayment of a Note shall be applied
ratably to the Notes proposed to be prepaid and, in each case any such prepayments shall be accompanied by (A) accrued interest,
(B) any break funding payments required pursuant to Section 2.15, (C) any Make-Whole Amount as required by Section 2.10(b) and
(D) any premium as required by Section 2.10(c).

 

(g) Prepayment
Certificate. Concurrently with any prepayment of the Notes pursuant to Section 2.10(d), Issuer Representative shall deliver
to Administrative Agent (for delivery to the Purchasers) a certificate of a Financial Officer of Alta Group demonstrating the calculation
of the amount of the applicable Net Cash Proceeds. In the event that Issuer Representative shall subsequently determine that the
actual amount received exceeded the amount set forth in such certificate, the Issuers shall promptly make an additional prepayment
of the Notes in an amount equal to such excess, and the Issuers shall concurrently therewith deliver to Administrative Agent (for
delivery to the Purchasers) a certificate of a Financial Officer of Alta Group demonstrating the derivation of such excess.

 

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(h) Application
of Prepayments; Payments Under First Lien Loan Documents.

 

(i) All
prepayments of the Notes made pursuant to this Section 2.10 shall be applied pro rata to the outstanding principal amount of the
Notes.

 

(ii) Each
mandatory prepayment required to be made pursuant to this Section 2.10 as a result of any event or circumstance shall be reduced
by the amount of any prepayment made in respect of such event or circumstance that is required to be made under the First Lien
Loan Documents or Floor Plan Loan Documents, as applicable and is applied to prepay the outstanding principal amount of the First
Lien Obligations under the First Lien Loan Documents or Floor Plan Loan Documents, as applicable, as follows: first, 50% to repay
the First Lien Revolving Loans until the outstanding principal balance thereof has been reduced to $0 (without a corresponding
permanent reduction in the related commitment, unless such prepayment results from a Prepayment Event under clause (c) of the definition
thereof (in which case such prepayment would be made with a corresponding permanent reduction in the related commitment)) and 50%
to repay the Floor Plan Loans until the outstanding principal balance thereof has been reduced to $0 (without a corresponding permanent
reduction in the related commitment, unless such prepayment results from a Prepayment Event under clause (c) of the definition
thereof (in which case such prepayment would be made with a corresponding permanent reduction in the related commitment)).

 

Section 2.11 Fees.
All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution,
as applicable, to the Purchasers. Fees paid shall not be refundable under any circumstances.

 

Section 2.12 Interest.

 

(a) Each
Note shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Note plus the Applicable Margin.

 

(b) Upon
the occurrence and during the continuance of an Event of Default, the principal amount of all Notes outstanding and, to the extent
permitted by applicable law, any interest payments on the Notes or any fees or other amounts owed hereunder (including, without
limitation, any break funding payments, any Make-Whole Amount or other premium), shall thereafter bear interest (including post-petition
interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws) payable on demand at a rate that is the
per annum interest rate otherwise payable hereunder with respect to the applicable Notes (or, in the case of any such fees and
other amounts, at a rate which is the per annum interest rate otherwise payable hereunder) plus the greater of (i) 4.00% and (ii)
the interest rate on daily 10-year treasury rate securities with the stated maturity of ten years (the “Default Rate”).
Payment or acceptance of the increased rates of interest provided for in this Section 2.12(b) 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 Purchaser.

 

(c) Accrued
interest on each Note shall be payable in arrears on each Interest Payment Date and on the Maturity Date for such Note; provided
that (i) interest accrued pursuant to paragraph (b) of this Section shall be payable on demand, and (ii) in the event of any repayment
or prepayment of any Note, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment
or prepayment.

 

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(d) All
interest hereunder shall accrue daily and shall be computed on the basis of a year of 360 days (which will result in more interest
being paid than if computed on the basis of a 365-day year), except that interest computed by reference to the CB Floating Rate
at times when the CB Floating Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days
in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding
the last day), and payable jointly and severally by the Issuers. The applicable CB Floating Rate, Adjusted LIBO Rate or LIBO Rate
shall be determined by the Administrative Agent or the Required Purchasers, and such determination shall be conclusive absent manifest
error.

 

Section 2.13 Alternate
Rate of Interest; Illegality.

 

(a) If
prior to the commencement of any Interest Period:

 

(i) the
Required Purchasers determine (which determination shall be conclusive and binding absent manifest error) that adequate and reasonable
means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including, without limitation, by means
of an Interpolated Rate or because the LIBO Screen Rate is not available or published on a current basis) for such Interest Period;
provided that no Benchmark Transition Event shall have occurred at such time; or

 

(ii) the
Required Purchasers determine that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately
and fairly reflect the cost to such Purchasers (or Purchaser) of maintaining the Notes for such Interest Period;

 

then the Required Purchasers shall direct
the Administrative Agent to give notice thereof to the Issuer Representative and the Purchasers through Electronic System as provided
in Section 10.12 as promptly as practicable thereafter and, until the Administrative Agent notifies the Issuer Representative and
the Purchasers that the circumstances giving rise to such notice no longer exist, the Notes shall be accrue interest at the CB
Floating Rate plus the Applicable Margin, commencing on the last day of the then current Interest Period applicable thereto.

 

(b) If
any Purchaser determines that any Requirement of Law has made it unlawful, or if any Governmental Authority has asserted that it
is unlawful, for any Purchaser or its applicable lending office to maintain the Notes accruing interest at the Adjusted LIBO Rate,
or any Governmental Authority has imposed material restrictions on the authority of such Purchaser to purchase or sell, or to take
deposits of, dollars in the London interbank market, then, on notice thereof by such Purchaser to the Issuer Representative through
the Administrative Agent, any obligations of such Purchaser to maintain the Notes accruing interest at the Adjusted LIBO Rate will
be suspended until such Purchaser notifies the Administrative Agent and the Issuers that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, the Issuer Representative agrees that the Notes shall accrue interest
at the CB Floating Rate plus the Applicable Margin, commencing on the last day of the Interest Period therefor, if such Purchaser
may lawfully continue to maintain the Notes accruing interest at the Adjusted LIBO Rate to such day, or immediately, if such Purchaser
may not lawfully continue to maintain such Notes accruing interest at the Adjusted LIBO Rate. Upon any such conversion, the Issuers
will also pay accrued interest on the amount so converted.

 

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(c) Notwithstanding
anything to the contrary herein or in any other Notes Document, upon the occurrence of a Benchmark Transition Event or an Early
Opt-in Election, as applicable, the Administrative Agent (at the direction of the Required Purchasers) and the Issuers may amend
this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition
Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed
amendment to all Purchasers and the Issuers. Any such amendment with respect to an Early Opt-in Election will become effective
on the date that Purchasers comprising the Required Purchasers have delivered to the Administrative Agent written notice that such
Required Purchasers accept such amendment. No replacement of LIBO Rate with a Benchmark Replacement will occur prior to the applicable
Benchmark Transition Start Date.

 

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

 

(e) The
Required Purchasers will promptly notify the Issuer Representative, and the Administrative Agent (which shall notify the other
Purchasers) of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, (ii) the implementation
of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement
or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Required
Purchasers pursuant to this Section 2.13, including any determination with respect to a tenor, rate or adjustment or of the occurrence
or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive
and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto,
except, in each case, as expressly required pursuant to this Section 2.13.

 

(f) Upon
the Issuer Representative’s receipt of notice of the commencement of a Benchmark Unavailability Period, any continuation
of any Note bearing interest by reference to the LIBO Rate shall be ineffective, and any such Note shall be converted into a Note
bearing reference to the CB Floating Rate plus the Applicable Margin on the last day of the then current Interest Period applicable
thereto. In the event that the LIBO Rate is not available on any determination date, then unless the Administrative Agent is notified
of a replacement benchmark in accordance with the provisions herein within two Business Days’ notice, the Administrative
Agent shall use the interest rate equal to the CB Floating Rate plus the Applicable Margin on the last day of the then current
Interest Period applicable thereto.

 

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Section 2.14 Increased
Costs.

 

(a) If
any Change in Law shall:

 

(i) impose,
modify or deem applicable any reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement,
insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, any Purchaser;
or

 

(ii) impose
on any Purchaser any other condition, cost or expense (other than Taxes) affecting this Agreement or Notes held by such Purchaser;
or

 

(iii) subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition
of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto;

 

and the result of any of the foregoing
shall be to increase the cost to such Purchaser or such other Recipient of making, continuing, converting into or maintaining any
Note (or of maintaining its obligation to purchase any such Note) or to reduce the amount of any sum received or receivable by
such Purchaser or such other Recipient hereunder (whether of principal, interest or otherwise), then the Issuers will pay to such
Purchaser or such other Recipient, as the case may be, such additional amount or amounts as will compensate such Purchaser or such
other Recipient, as the case may be, for such additional costs incurred or reduction suffered.

 

(b) If
any Purchaser determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing
the rate of return on such Purchaser’s capital or on the capital of such Purchaser’s holding company, if any, as a
consequence of this Agreement or the Notes purchased by, such Purchaser to a level below that which such Purchaser or such Purchaser’s
holding company could have achieved but for such Change in Law (taking into consideration such Purchaser’s policies and the
policies of such Purchaser’s holding company with respect to capital adequacy and liquidity), then from time to time the
Issuers will pay to such Purchaser such additional amount or amounts as will compensate such Purchaser or such Purchaser’s
holding company for any such reduction suffered.

 

(c) A
certificate in reasonable detail of a Purchaser setting forth the amount or amounts necessary to compensate such Purchaser or its
holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Issuers and
shall be conclusive absent manifest error. The Issuers shall pay such Purchaser the amount shown as due on any such certificate
within ten (10) days after receipt thereof.

 

(d) Failure
or delay on the part of any Purchaser to demand compensation pursuant to this Section shall not constitute a waiver of such Purchaser’s
right to demand such compensation; provided that the Issuers shall not be required to compensate a Purchaser pursuant to this Section
for any increased costs or reductions incurred more than two hundred seventy (270) days prior to the date that such Purchaser notifies
the Issuers of the Change in Law giving rise to such increased costs or reductions and of such Purchaser’s intention to claim
compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive,
then the two hundred seventy (270)-day period referred to above shall be extended to include the period of retroactive effect thereof.

 

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Section 2.15 Break
Funding Payment. In the event of (a) the payment of any principal of any Note other than on the last day of an Interest Period
applicable thereto (including as a result of an Event of Default), (b) the failure to continue or prepay any Note on the date
specified in any notice delivered pursuant hereto, or (c) the assignment of any Note other than on the last day of the Interest
Period applicable thereto as a result of a request by an Issuer pursuant to Section 2.18, then, in any such event, the applicable
Issuer shall compensate each Purchaser for the loss, cost and expense attributable to such event. In the case of a Note, such
loss, cost or expense to any Purchaser shall be deemed to include an amount determined by such Purchaser to be the excess, if
any, of (i) the amount of interest which would have accrued on the principal amount of such Note had such event not occurred,
at the Adjusted LIBO Rate that would have been applicable to such Note, for the period from the date of such event to the last
day of the then current Interest Period therefor (or, in the case of a failure to continue, for the period that would have been
the Interest Period for such Note), over (ii) the amount of interest which would accrue on such principal amount for such period
at the interest rate which such Purchaser would bid were it to bid, at the commencement of such period, for dollar deposits of
a comparable amount and period from other banks in the eurodollar market. A certificate in reasonable detail of any Purchaser
setting forth any amount or amounts that such Purchaser is entitled to receive pursuant to this Section shall be delivered to
the Issuers and shall be conclusive absent manifest error. The Issuers shall pay such Purchaser the amount shown as due on any
such certificate within ten (10) days after receipt thereof.

 

Section 2.16 Taxes.

 

(a) Withholding
Taxes; Gross-Up; Payments Free of Taxes. Any and all payments by or on account of any obligation of any Issuer under any Notes
Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable
law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any
Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction
or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with
applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Issuer shall be increased as necessary
so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional
sums payable under this Section 2.16), the applicable Recipient receives an amount equal to the sum it would have received had
no such deduction or withholding been made.

 

(b) Payment
of Other Taxes by the Issuers. The Issuers shall timely pay to the relevant Governmental Authority in accordance with applicable
law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.

 

(c) Evidence
of Payment. As soon as practicable after any payment of Taxes by the Issuers to a Governmental Authority pursuant to this Section
2.16, the Issuer Representative shall deliver to the Administrative Agent the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of the return reporting such payment, or other evidence of such
payment reasonably satisfactory to the Required Purchasers.

 

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(d) Indemnification
by the Issuers. The Issuers shall jointly and severally indemnify each Recipient, within ten (10) days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section) payable or paid by such Recipient (or its Affiliates) or required to be withheld or deducted from a payment
to such Recipient and any reasonable expenses arising therefrom or with respect thereto (including without limitation reasonable
attorneys and tax advisors’ fees and expenses), whether or not such Indemnified Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Issuer
Representative by a Purchaser (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on
behalf of a Purchaser, shall be conclusive absent manifest error.

 

(e) Indemnification
by the Purchasers. Each Purchaser shall severally indemnify the Administrative Agent, within ten (10) days after demand therefor,
for (i) any Indemnified Taxes attributable to such Purchaser (but only to the extent that the Issuers have not already indemnified
the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Issuers to do so), and (ii) any
Excluded Taxes attributable to such Purchaser, in each case, that are payable or paid by the Administrative Agent in connection
with any Notes Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment
or liability delivered to any Purchaser by the Administrative Agent shall be conclusive absent manifest error. Each Purchaser hereby
authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Purchaser under any Notes
Document or otherwise payable by the Administrative Agent to such Purchaser from any other source against any amount due to the
Administrative Agent under this paragraph (e).

 

(f) Status
of Purchasers.

 

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

 

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(ii) Without
limiting the generality of the foregoing, in the event that any Issuer is a U.S. Person,

 

(A) any
Purchaser that is a U.S. Person shall deliver to the Issuer Representative and the Administrative Agent on or prior to the date
on which such Purchaser becomes a Purchaser under this Agreement (and from time to time thereafter upon the reasonable request
of the Issuer Representative or the Administrative Agent), an executed IRS Form W-9 certifying that such Purchaser is exempt from
U.S. federal backup withholding tax;

 

(B) any
Foreign Purchaser shall, to the extent it is legally entitled to do so, deliver to the Issuer Representative and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Purchaser
becomes a Purchaser under this Agreement (and from time to time thereafter upon the reasonable request of the Issuer Representative
or the Administrative Agent), whichever of the following is applicable:

 

(1) in
the case of a Foreign Purchaser claiming the benefits of an income tax treaty to which the U.S. is a party (x) with respect to
payments of interest under any Notes Document, an executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an
exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax
treaty and (y) with respect to any other applicable payments under any Notes Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as
applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits”
or “other income” article of such tax treaty;

 

(2) in
the case of a Foreign Purchaser claiming that its extension of credit will generate U.S. effectively connected income, an executed
IRS Form W-8ECI;

 

(3) in
the case of a Foreign Purchaser claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate to the effect that such Foreign Purchaser is not a “bank” within the meaning of Section 881(c)(3)(A)
of the Code, a “10 percent shareholder” of an Issuer within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled
foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”)
and (y) an executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or

 

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(4) to
the extent a Foreign Purchaser is not the Beneficial Owner, an executed IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form
W-8BEN or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate, IRS Form W-9, and/or other certification documents
from each Beneficial Owner, as applicable; provided that if the Foreign Purchaser is a partnership and one or more direct or indirect
partners of such Foreign Purchaser are claiming the portfolio interest exemption, such Foreign Purchaser may provide a U.S. Tax
Compliance Certificate on behalf of each such direct and indirect partner;

 

(C) any
Foreign Purchaser shall, to the extent it is legally entitled to do so, deliver to the Issuer Representative and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Purchaser
becomes a Purchaser under this Agreement (and from time to time thereafter upon the reasonable request of the Issuer Representative
or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption
from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed
by applicable law to permit the Issuer Representative or the Administrative Agent to determine the withholding or deduction required
to be made; and

 

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

 

Each Purchaser agrees that if any form
or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or
certification or promptly notify the Issuer Representative and the Administrative Agent in writing of its legal inability to do
so.

 

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(g) Treatment
of Certain Refunds. If any party determines, in its discretion exercised in good faith, that it has received a refund of any
Taxes as to which it has been indemnified pursuant to this Section 2.16 (including by the payment of additional amounts pursuant
to this Section 2.16), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section 2.16 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount
to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable
net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such
refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise
to such refund had never been paid. This paragraph (g) shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other
Person.

 

(h) Survival.
Each party’s obligations under this Section 2.16 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Purchaser and the repayment, satisfaction or discharge of all obligations
under any Notes Document.

 

(i) Defined
Terms. For purposes of this Section 2.16, the term “applicable law” includes FATCA.

 

Section 2.17 Payments
Generally; Allocation of Proceeds; Sharing of Set-offs.

 

(a) The
Issuers shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable
under Section 2.14 or 2.16, or otherwise) prior to 1:00 p.m., eastern time, on the date when due, in immediately available funds,
without set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative
Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such
payments shall be made to the Administrative Agent at such office designated by the Administrative Agent. The Administrative Agent
shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following
receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended
to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the
period of such extension. All payments hereunder shall be made in dollars.

 

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(b) Notwithstanding
anything herein to the contrary, any proceeds of Collateral or payments on Notes Party Guaranties received by the Administrative
Agent (i) not constituting either (A) a specific payment of principal, interest, break funding payment, premium, Make-Whole Amount,
fees or other sum payable under the Notes Documents (which shall be applied as specified by the Issuers) or (B) a mandatory prepayment
(which shall be applied in accordance with Section 2.10) or (ii) after an Event of Default has occurred and is continuing and the
Administrative Agent so elects or the Required Purchasers so direct, such funds shall be applied ratably first, to
pay any fees, indemnities, or expense reimbursements including amounts then due to the Administrative Agent from the Issuers, second,
to pay any fees or expense reimbursements then due to the Purchasers from the Issuers, third, to pay Default Rate
then due and payable on the Notes, ratably, fourth, to pay interest (other than Default Rate) then due and payable
on the Notes ratably, fifth, to the payment of any Make-Whole Amount required pursuant to Section 2.10(b), any premium
required pursuant to Section 2.10(c) and break funding payments required pursuant to Section 2.15, on a pro rata basis, sixth,
to prepay principal on the Notes ratably (with amounts applied to the any Notes applied to any installments due on any Notes in
inverse order of maturity), seventh, to the payment of any other Secured Obligation due to the Administrative Agent
or any Purchaser or any of their Affiliates by any Issuer, and eighth, to the payment of the surplus, if any, to
the Issuers or whoever else may be lawfully entitled to receive such surplus. The Administrative Agent and the Purchasers shall
have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion
of the Secured Obligations.

 

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

 

(d) Unless
the Administrative Agent shall have received notice from the Issuers prior to the date on which any payment is due to the Administrative
Agent for the account of the Purchasers hereunder that the Issuers will not make such payment, the Administrative Agent may assume
that the Issuers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute
to the Purchasers the amount due. In such event, if the Issuers have not in fact made such payment, then each of the Purchasers
severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Purchaser with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the
Administrative Agent, at a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

 

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(e) If
any Purchaser shall fail to make any payment required to be made by it pursuant to Section 2.17(c) or 10.03(c), then the Administrative
Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the
Administrative Agent for the account of such Purchaser for the benefit of the Administrative Agent to satisfy such Purchaser’s
obligations to it under such Section until all such unsatisfied obligations are fully paid, and/or (ii) hold any such amounts in
a segregated account as cash collateral for, and application to, any future funding obligations of such Purchaser under any such
Section, in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

 

(f) The
Administrative Agent may from time to time provide the Issuers with account statements or invoices with respect to any of the Secured
Obligations (the “Statements”). The Administrative Agent is under no duty or obligation to provide Statements,
which, if provided, will be solely for the Issuers’ convenience. Statements may contain estimates of the amounts owed during
the relevant billing period, whether of principal, interest, fees or other Secured Obligations. If the Issuers pay the full amount
indicated on a Statement on or before the due date indicated on such Statement, the Issuers shall not be in default of payment
with respect to the billing period indicated on such Statement; provided, that acceptance by the Administrative Agent, on behalf
of the Purchasers, of any payment that is less than the total amount actually due at that time (including but not limited to any
past due amounts) shall not constitute a waiver of the Administrative Agent’s or the Purchasers’ right to receive payment
in full at another time.

 

(g) At
the election of the Administrative Agent (at the direction of Required Purchasers), all payments of principal, interest, fees,
premiums, reimbursable expenses (including, without limitation, all reimbursement for fees, costs and expenses pursuant to Section
10.03), and other sums payable under the Notes Documents, may be paid from the proceeds of Notes made hereunder, whether made following
a request by the Issuer Representative or a deemed request as provided in this Section or may be deducted from any deposit account
of the Issuers maintained with the Administrative Agent.

 

Section 2.18 Mitigation
Obligations; Replacement of Purchasers.

 

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

 

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(b) If
any Purchaser shall become affected by any of the changes or events described in Section 2.14 or 2.16 and the Issuers are required
to pay additional amounts or make indemnity payments with respect to such Purchaser thereunder (any such Purchaser being hereinafter
referred to as a “Departing Purchaser”), then in such case, the Issuers may, upon at least five (5) Business
Days’ notice to the Administrative Agent and such Departing Purchaser (or such shorter notice period specified by the Administrative
Agent), designate a replacement purchaser who is not an Ineligible Institution and who is acceptable to the Required Purchasers
(a “Replacement Purchaser”) to which such Departing Purchaser shall, subject to its receipt (unless a later
date for the remittance thereof shall be agreed upon by the Issuers and the Departing Purchaser) of all amounts owed to such Departing
Purchaser under Sections 2.14 or 2.16, assign all (but not less than all) of its interests, rights, obligations and Notes hereunder;
provided, that the Departing Purchaser shall have received payment of an amount equal to the outstanding principal of its Notes,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the Replacement Purchaser (to the extent
of such outstanding principal and accrued interest and fees) or the Issuers (in the case of all other amounts). Upon any assignment
by any Purchaser pursuant to this Section 2.18(b) becoming effective, the Replacement Purchaser shall thereupon be deemed to be
a “Purchaser” for all purposes of this Agreement (unless such Replacement Purchaser was, itself, a Purchaser prior
thereto) and such Departing Purchaser shall thereupon cease to be a “Purchaser” for all purposes of this Agreement
and shall have no further rights or obligations hereunder (other than pursuant to Section 2.14 or 2.16 and Section 10.03) while
such Departing Purchaser was a Purchaser.

 

(c) Notwithstanding
any Departing Purchaser’s failure or refusal to assign its rights, obligations and Notes under this Section 2.18, the Departing
Purchaser shall cease to be a “Purchaser” for all purposes of this Agreement and the Replacement Purchaser shall be
substituted therefor upon payment to the Departing Purchaser by the Replacement Purchaser of all amounts set forth in this Section
2.18 without any further action of the Departing Purchaser.

 

Section 2.19 Tax
Treatment of Notes. The Notes are intended by the parties hereto to be treated as indebtedness of the Issuers for all federal,
state, local, and foreign tax purposes. Further, the parties agree and acknowledge that the Notes have been issued with original
issue discount (“OID”) for the purposes of the Code, and that information as to the issue price, the amount
of OID, the issue date, and the yield to maturity may be obtained by contacting the President of the Issuer Representative at
13211 Merriman Rd, Livonia, Michigan 48150-1826, Attention: President (Facsimile No. 248-449-6701). The parties agree not to take
a position for federal, state, or local income tax purposes inconsistent with this Section 2.19, including the filing of any information
Tax return, unless there is a “determination” within the meaning of Section 1313 of the Code (or similar state law)
to the contrary.

 

Section 2.20 Appointment
of Issuer Representative. Each Issuer hereby appoints the Issuer Representative as its agent, attorney-in-fact and representative
for the purpose of (a) making any borrowing requests or other requests required under this Agreement, (b) the giving and receipt
of notices by and to Issuers under this Agreement, (c) the delivery of all documents, reports, certificates, financial statements
and written materials required to be delivered by Issuers under this Agreement, and (d) all other purposes incidental to any of
the foregoing. Each Issuer agrees that any action taken by the Issuer Representative as the agent, attorney-in-fact and representative
of the Issuers shall be binding upon each Issuer to the same extent as if directly taken by such Issuer and any notice to the
Issuer Representative shall be deemed notice to all Issuers.

 

Section 2.21 [Reserved].

 

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Section 2.22 Returned
Payments. If, after receipt of any payment which is applied to the payment of all or any part of the Obligations (including
a payment effected through exercise of a right of setoff), the Administrative Agent or any Purchaser is for any reason compelled
to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent,
set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any
other reason (including pursuant to any settlement entered into by the Administrative Agent or such Purchaser in its discretion),
then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue
in full force as if such payment or proceeds had not been received by the Administrative Agent or such Purchaser. The provisions
of this Section 2.22 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative
Agent or any Purchaser in reliance upon such payment or application of proceeds. The provisions of this Section 2.22 shall survive
the termination of this Agreement.

 

ARTICLE III

Representations
and Warranties

 

The Issuers represent
and warrant to the Purchasers that:

 

Section 3.01 Organization;
Powers. Each Notes Party is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to
do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified
to do business in, and is in good standing in, every jurisdiction where such qualification is required. All of the issued and
outstanding Equity Interests owned by any Notes Party have been (to the extent such concepts are relevant with respect to such
ownership interests) duly authorized and issued and are fully paid and non-assessable.

 

Section 3.02 Authorization;
Enforceability. The Transactions are within each Note Party’s corporate, limited liability company or other organizational
powers and have been duly authorized by all necessary corporate, limited liability company or other organizational actions and,
if required, actions by equity holders. This Agreement has been duly executed as of the date hereof and delivered by each Notes
Party as of the Effective Date and constitutes a legal, valid and binding obligation of each such Notes Party, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at
law.

 

Section 3.03 Governmental
Approvals; No Conflicts. The performance by each Notes Party of its obligations under the Transactions (a) do not require
any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have
been obtained or made and are in full force and effect, (b) will not violate any applicable law or regulation or the charter,
operating agreement, by-laws or other organizational documents of any Notes Party or any order of any Governmental Authority,
(c) will not violate or result in a default under any material indenture, agreement or other instrument binding upon any
Notes Party or its assets (as to any such violation or default to the extent it could result in a Material Adverse Effect), or
give rise to a right thereunder to require any payment to be made by any Notes Party, and (d) other than pursuant to the Collateral
Documents and, subject to the First Lien Intercreditor Agreement, the First Lien Loan Documents and the Floor Plan Loan Documents,
will not result in the creation or imposition of any Lien on any asset of any Notes Party.

 

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Section 3.04 Financial
Condition; No Material Adverse Change.

 

(a) The
Issuers have heretofore furnished to the Purchasers the consolidated balance sheet and statement of income, stockholders equity
and cash flows of Alta Enterprises and its Subsidiaries (as described in such audit) as of and for the Fiscal Year ended December
31, 2018, audited by UHY LLP, independent public accountants, and the consolidated balance sheet and statement of income, stockholders
equity and cash flows of Alta Enterprises and its Subsidiaries as of November 30, 2019 prepared by a Financial Officer (collectively,
the “Historical Financial Statements”). Such financial statements for the Fiscal Year ended December 31, 2018
present fairly, in all material respects, the consolidated financial position and results of operations and cash flows of Alta
Enterprises and its Subsidiaries as of such date and for such periods in accordance with GAAP, and such financial statements as
of November 30, 2019 present fairly, in all material respects, the consolidated financial position and results of operations and
cash flows of Alta Enterprises and its Subsidiaries as of such dates and for such periods in accordance with GAAP.

 

(b) The
pro forma financial statements and projections delivered to the Purchasers prior to the Effective Date for the Fiscal Years ending
December 31, 2020 through and including December 31, 2022 of Alta Group (the “Projections”) fairly present in
all material respects the pro forma consolidated financial condition of Alta Group and its Subsidiaries after giving effect to
the Transactions in accordance with GAAP, and contain reasonable assumptions and give appropriate effect to those assumptions,
and are based on estimates and assumptions considered reasonable by Alta Group and the best information available to Alta Group
at the time made, and use information consistent with the plans of Alta Group, it being recognized by the Administrative Agent
and the Purchasers, however, that projections as to future events are not to be viewed as facts, and that the actual results during
the period or periods covered by said projections probably will differ from the projected results and that such differences may
be material.

 

(c) Since
December 31, 2018 there has been no Material Adverse Effect.

 

Section 3.05 Properties.

 

(a) Each
Notes Party has good title to, or valid leasehold interests in, all its real and personal property material to its business, except
for minor defects in title that do not materially interfere with its ability to conduct its business as currently conducted.

 

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

 

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(c) As
of the Effective Date, each Notes Party, including its ownership, is described on Schedule 3.05 hereto. The Notes Parties
listed on Schedule 3.05 include all Subsidiaries of each Notes Party. Each Notes Party has and will have all requisite power
to own or lease the properties material to its business and to carry on its business as now being conducted and as proposed to
be conducted.

 

Section 3.06 Litigation
and Environmental Matters.

 

(a) There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge
of any Issuer, threatened against or affecting any Notes Party (i) as to which there is a reasonable possibility of an adverse
determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve this Agreement or the Transactions.

 

(b) Except
for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, no Notes Party (i) has failed to comply with any Environmental Law or to obtain,
maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has or expects to incur
any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of
any basis for any Environmental Liability.

 

(c) Since
this date of this Agreement, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate,
has resulted in, or materially increased the likelihood of, a Material Adverse Effect.

 

Section 3.07 Compliance
with Laws and Agreements. Each Notes Party is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except
where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

 

Section 3.08 Investment
Company Status. No Notes Party is required to register as an “investment company” under, the Investment
Company Act of 1940.

 

Section 3.09 Taxes.
Each Notes Party has timely filed or caused to be filed all federal and all material state and local Tax returns and reports required
to have been filed and has paid or caused to be paid all material Taxes required to have been paid by it, except Taxes that are
being contested in good faith by appropriate proceedings and for which such Notes Party has set aside on its books adequate reserves.

 

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Section 3.10 ERISA.

 

(a) No
ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present value
of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting
Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market
value of the assets of such Plan. Except as could not reasonably be expected to have a Material Adverse Effect, (i) each Employee
Benefit Plan complies with, and has been operated in accordance with, all applicable laws, including ERISA and the Code, and the
terms of such Employee Benefit Plan, (ii) no Issuer or Guarantor has any liability for a fine, penalty, damage, or excise
tax with respect to an Employee Benefit Plan, and no Issuer or Guarantor has received notice from a governmental authority, plan
administrator, or participant (or any participant’s agent) that any such fine, penalty, damage or excise tax may be owing
by such Issuer or Guarantor and (iii) each Employee Benefit Plan intended by an Issuer or Guarantor to be qualified under Section
401 of the Code is so qualified.

 

(b) The
execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that
is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D)
of the Code. The representation by the Issuers to each Purchaser in the first sentence of this Section 3.10(b) is made in reliance
upon and subject to the accuracy of such Purchaser’s representation in Section 8.08 as to the sources of the funds to be
used to pay the purchase price of the Notes to be purchased by such Purchaser.

 

Section 3.11 Disclosure.
The Issuers have disclosed to the Purchasers all agreements, instruments and corporate or other restrictions to which it or any
Notes Party is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected
to result in a Material Adverse Effect. No reports, financial statements, certificates or other information furnished by or on
behalf of any Issuer (including without limitation any information memorandum provided to any of the Purchasers) to the Administrative
Agent or any Purchaser in connection with the negotiation of this Agreement or delivered hereunder contains any material misstatement
of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided that, with respect to projected financial information, the Issuers represent only
that such information was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood
that such forecasts or projections are subject to significant uncertainties and contingencies, many of which are beyond the control
of the Issuers, and that no Issuer makes no representation as to the attainability of such forecasts or projections or as to whether
such forecasts or projections will be achieved or will materialize).

 

Section 3.12 Solvency.
After giving effect to the Transactions, (a) the fair value of the assets of each Notes Party, at a fair valuation, will exceed
its debts and liabilities, subordinated, contingent or otherwise; (b) the present fair saleable value of the assets (including
contingent assets) will be sufficient to pay the probable liability of such Notes Party’s debts and other liabilities, subordinated,
contingent or otherwise, as such debts and other liabilities become absolute and matured; (c) each Notes Party will be able to
pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured;
(d) each Notes Party will not have unreasonably small capital with which to conduct the business in which it is engaged as such
business is now conducted and is proposed to be conducted following the Effective Date; (e) no Notes Party is “insolvent”
within the meaning of Section 101(32) of the United States Bankruptcy Code (11 U.S.C. § 101, et seq.), as amended, and any
successor statute; and (f) no Notes Party has incurred (by way of assumption or otherwise) any obligations or liabilities (contingent
or otherwise) under any Notes Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or
defraud either present or future creditors of such Notes Party or any of its Affiliates.

 

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Section 3.13 Security
Interest in Collateral. The provisions of this Agreement and the other Notes Documents create legal and valid Liens on all
the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and, upon the filing of appropriate
financing statements and, with respect to any intellectual property, filings in the United States Patent and Trademark Office
and the United States Copyright Office, and, with respect to real property, the Mortgages, or taking such other action as may
be required for perfection under applicable law, such Liens will constitute, to the extent required by the Notes Documents, perfected
and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Notes Party and all
third parties, and having priority over all other Liens on the Collateral other than with respect to Liens expressly permitted
by Section 6.02, to the extent any such Liens would have priority over the Liens in favor of the Administrative Agent pursuant
to any applicable law.

 

Section 3.14 Labor
Disputes. There are no strikes, lockouts or slowdowns against any Notes Party pending or, to the knowledge of the Issuers,
threatened. There are no labor controversies pending against or, to the knowledge of any Issuer, threatened against or affecting
any Notes Party (i) which could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect,
or (ii) that involve this Agreement or the Transactions. The hours worked by and payments made to employees of the Notes Parties
and their Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local
or foreign law dealing with such matters. All payments due from any Notes Party or any Subsidiary, or for which any claim may
be made against any Notes Party or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits,
have been paid or accrued as a liability on the books of such Notes Party or such Subsidiary.

 

Section 3.15 No
Default. No Default has occurred and is continuing.

 

Section 3.16 Federal
Reserve Regulations. No part of the proceeds of any Note have been used, whether directly or indirectly, for any purpose that
entails a violation of any of the regulations of the Board, including Regulations T, U, and X. No Notes Party is engaged and will
not engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending
credit for the purpose of purchasing or carrying Margin Stock, and no part of the proceeds of any Note hereunder will be used
to buy or carry any Margin Stock. Following the application of the proceeds of the Notes, not more than 25% of the value of the
assets (either of any Notes Party only or of the Notes Parties and their Subsidiaries on a consolidated basis) will be Margin
Stock.

 

Section 3.17 Subordinated
Debt. All representations and warranties of any Notes Party contained in any Subordinated Debt Document are true and correct
in all material respects when made. As of the Effective Date, all outstanding Subordinated Debt and Subordinated Debt Documents
are described on Schedule 3.17. As of the Effective Date, there are no other documents, agreements or instruments evidencing
the Subordinated Debt or otherwise entered into in connection with the Subordinated Debt other than as described on Schedule
3.17 hereto and each Issuer represents and agrees that there will be no other documents, agreements or instruments evidencing
the Subordinated Debt or otherwise relating thereto without the prior written consent of the Administrative Agent (at the direction
of Required Purchasers). Complete and accurate copies of all documents, agreements or instruments described on Schedule 3.17
have been delivered to the Administrative Agent and the Purchasers (or their counsel) on or prior to the Effective Date. All
Secured Obligations are senior debt as defined in the Subordinated Debt Documents and entitled to the benefits of the subordination
and other provisions thereof. There is no event of default or event or condition which could become an event of default with notice
or lapse of time or both, under any Subordinated Debt Document and the Subordinated Debt Documents are in full force and effect.

 

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Section 3.18 Anti-Corruption
Laws and Sanctions. Each Notes Party has implemented and maintains in effect policies and procedures designed to ensure compliance
by each Notes Party, their Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws
and applicable Sanctions, and each Notes Party, its Affiliates and their respective officers and employees and to the knowledge
of any Notes Party its directors and agents, are in compliance with Anti-Corruption Laws in all material respects and applicable
Sanctions. None of the Notes Parties nor any of their respective directors, officers or employees, or, to the knowledge of any
Notes Party, any agent of any Notes Party that will act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. No Notes, use of proceeds or other transaction contemplated by this Agreement or the
other Notes Documents will violate Anti-Corruption Laws, Anti-Terrorism Laws or applicable Sanctions. No Notes Party shall (i)
violate any Anti-Terrorism Laws or (ii) engage in any transaction, investment, undertaking or activity that conceals the identity,
source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation
and Development’s Financial Action Task Force on Money Laundering.

 

Section 3.19 EEA
Financial Institutions. No Notes Party is an EEA Financial Institution.

 

Section 3.20 Material
Agreements. All material dealer or similar agreements to which any Notes Party is a party or is bound as of the date of this
Agreement are listed on Schedule 3.20. No Notes Party is in default in the performance, observance or fulfillment of any
of the obligations, covenants or conditions contained in (a) any material franchise or similar agreement to which it is a party
or any other Material Agreement, or (b) any agreement or instrument evidencing or governing Material Indebtedness.

 

Section 3.21 Capitalization
and Subsidiaries. Schedule 3.21 sets forth (a) a correct and complete list of the name and relationship to Alta Group
of each Subsidiary, (b) a true and complete listing of each class of each of Alta Group’s authorized Equity Interests,
of which all of such issued Equity Interests are validly issued, outstanding, fully paid and non-assessable, and owned beneficially
and of record by the Persons identified on Schedule 3.21, and (c) the type of entity of Alta Group and each Subsidiary.
All of the issued and outstanding Equity Interests owned by any Notes Party have been (to the extent such concepts are relevant
with respect to such ownership interests) duly authorized and issued and are fully paid and non-assessable. Each Note Party has
and will have all requisite power to own or lease the properties material to its business and to carry on its business as now
being conducted and as proposed to be conducted.

 

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Section 3.22 Use
of Proceeds. The proceeds of the Notes have been used, and will be used, as set forth in Section 5.08.

 

Section 3.23 Affiliate
Transactions. Except for agreements in the ordinary course of business at prices and on terms and conditions not less favorable
to such Notes Party than could be obtained on an arm’s-length basis from unrelated third parties, as of the date of this
Agreement, there are no existing or proposed agreements, arrangements, understandings or transactions between any Notes Party
and any of the officers, members, managers, directors, stockholders, parents, holders of other Equity Interests, employees or
Affiliates (other than Subsidiaries) of any Notes Party or any members of their respective immediate families, and none of the
foregoing Persons is directly or indirectly indebted to or has any direct or indirect ownership, partnership, or voting interest
in any Affiliate of any Notes Party or any Person with which any Notes Party has a business relationship or which competes with
any Notes Party.

 

Section 3.24 First
Lien and Floor Plan Transactions. All representations and warranties of any Notes Party contained in any First Lien Loan Document
or Floor Plan Loan Document are true and correct in all material respects when made. As of the Effective Date, all First Lien
Loan Documents and Floor Plan Loan Documents are described on Schedule 3.24. As of the Effective Date, there are no other
material documents, agreements or instruments evidencing the First Lien Obligations or otherwise entered into in connection with
the First Lien Obligations other than as described on Schedule 3.24 hereto. Complete and accurate copies of all documents,
agreements or instruments described on Schedule 3.24 have been delivered to the Purchasers (or their counsel) on or prior
to the Effective Date. There is no event of default or event or condition which could become an event of default with notice or
lapse of time or both, under any First Lien Loan Document or any Floor Plan Loan Document and the First Lien Loan Documents and
the Floor Plan Loan Documents are in full force and effect.

 

Section 3.25 Flagler
Acquisition. The Flagler Acquisition complies in all material respects with all applicable Requirements of Law, and all necessary
governmental, regulatory and shareholder consents and approvals required for the consummation of the Flagler Acquisition have
been, or prior to the consummation thereof will be, duly obtained and in full force and effect. All applicable waiting periods
with respect to the Flagler Acquisition have expired without any action being taken by any Governmental Authority which restrains,
prevents or imposes material adverse conditions upon the consummation of such transaction. At the time of consummation thereof,
there shall not exist any judgment, order or injunction prohibiting the Flagler Acquisition or any transaction contemplated hereby.
The Flagler Acquisition will be consummated on the Effective Date in accordance with the terms of the Flagler Acquisition Agreement,
without waiver of any of the material conditions thereof except to the extent agreed to by the Purchasers. The consummation by
the Issuers of the Flagler Acquisition will not violate any statute or regulation of the U.S. or any other applicable jurisdiction,
or any order, judgment or decree of any court or other Governmental Authority, or result in a breach of, or constitute a default
under, any Material Agreement or any order or decree, binding on any Notes Party. The representations and warranties of the Notes
Parties and, to the knowledge of the Issuers, the other parties thereto in the Flagler Acquisition Documents are true and correct
in all material respects on the date of this Agreement. Complete and correct copies of all Flagler Acquisition Documents (including
all amendments thereto) have been delivered to the Purchasers prior to the Effective Date. All Indebtedness of Flagler to be paid
off, and all Liens on the assets of Flagler to be released, in connection with the Flagler Acquisition (as described in the funds
flow statement in connection therewith) will be paid off and released, as applicable, on the Effective Date simultaneously in
connection with the closing of the Flagler Acquisition except to the extent agreed to by the Purchasers.

 

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Section 3.26 Liftech
Acquisition. The Liftech Acquisition complies in all material respects with all applicable Requirements of Law, and all
necessary governmental, regulatory and shareholder consents and approvals required for the consummation of the Liftech Acquisition
have been, or prior to the consummation thereof will be, duly obtained and in full force and effect. All applicable waiting periods
with respect to the Liftech Acquisition have expired without any action being taken by any Governmental Authority which restrains,
prevents or imposes material adverse conditions upon the consummation of such transaction. At the time of consummation thereof,
there shall not exist any judgment, order or injunction prohibiting the Liftech Acquisition or any transaction contemplated hereby.
The Liftech Acquisition will be consummated on the Effective Date in accordance with the terms of the Liftech Acquisition Agreement,
without waiver of any of the material conditions thereof except to the extent agreed to by the Purchasers. The consummation by
the Issuers of the Liftech Acquisition will not violate any statute or regulation of the U.S. or any other applicable jurisdiction,
or any order, judgment or decree of any court or other Governmental Authority, or result in a breach of, or constitute a default
under, any Material Agreement or any order or decree, binding on any Notes Party. The representations and warranties of the Notes
Parties and, to the knowledge of the Issuers, the other parties thereto in the Liftech Acquisition Documents are true and correct
in all material respects on the date of this Agreement. Complete and correct copies of all Liftech Acquisition Documents (including
all amendments thereto) have been delivered to the Purchasers prior to the Effective Date. All Indebtedness of Liftech to be paid
off, and all Liens on the assets of Liftech to be released, in connection with the Liftech Acquisition (as described in the funds
flow statement in connection therewith) will be paid off and released, as applicable, on the Effective Date simultaneously in
connection with the closing of the Liftech Acquisition except to the extent agreed to by the Purchasers.

 

Section 3.27 Insurance.
Schedule 3.27 sets forth a description of all insurance maintained by or on behalf of the Notes Parties and their
Subsidiaries as of the date of this Agreement. As of the Effective Date, all premiums in respect of such insurance have been paid.
Each Issuer maintains, and has caused each Subsidiary to maintain, with financially sound and reputable insurance companies, insurance
on all their real and personal property in such amounts, subject to such deductibles and self-insurance retentions and covering
such properties and risks as are adequate and customarily maintained by companies engaged in the same or similar businesses operating
in the same or similar locations.

 

Section 3.28 Common
Enterprise. The successful operation and condition of each of the Notes Parties is dependent on the continued successful performance
of the functions of the group of the Notes Parties as a whole and the successful operation of each of the Notes Parties is dependent
on the successful performance and operation of each other Notes Party. Each Notes Party expects to derive benefit (and its board
of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly,
from (i) successful operations of each of the other Notes Parties and (ii) the credit extended by the Purchasers to the Issuers
hereunder, both in their separate capacities and as members of the group of companies. Each Notes Party has determined that execution,
delivery, and performance of this Agreement and any other Notes Documents to be executed by such Notes Party is within its purpose,
in furtherance of its direct and/or indirect business interests, will be of direct and/or indirect benefit to such Notes Party,
and is in its best interest.

 

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Section 3.29 B.
Riley Merger/Equity Transactions. All B. Riley Merger/Equity Transactions will be consummated on the Effective Date in accordance
with the B. Riley Merger/Equity Transaction Agreements and as described on Schedule 3.29. All material agreements
executed in connection with the B. Riley Merger/Equity Transaction Agreements are listed on Schedule 3.29 as the B. Riley
Merger/Equity Transaction Agreements. Alta Group has raised the following amounts of cash common Equity Interests: (a) $143,750,000
from Alta Group’s initial public offering on April 12, 2019 (the “IPO Cash Common Equity”), (b) $25,000,000
that will be funded by B. Riley Principal Investments, LLC under a forward purchase agreement immediately prior to the closing
of the B. Riley Merger/Equity Transactions (the “Forward Purchase Cash Common Equity”) and (c) $35,000,000
under subscription agreements with institutional and accredited investors immediately prior to the closing of the B. Riley Merger/Equity
Transactions (the “PIPE Cash Common Equity”, and collectively with the IPO Cash Common Equity and the Forward
Purchase Cash Common Equity, the “Cash Common Equity”). As of the Effective Date immediately prior to the closing
of the B. Riley Merger/Equity Transactions, Alta Group will have received the Forward Purchase Cash Common Equity and the PIPE
Cash Common Equity, and will have remaining cash from the IPO Cash Common Equity of at least $88,000,000 that is not subject to
any redemption or any other restriction on its use by the Issuers, for a total of Cash Common Equity of at least $148,000,000
that is not subject to any redemption or any other restriction on its use by the Issuers. Such consummation of the B. Riley Merger/Equity
Transactions complies in all material respects with all applicable Requirements of Law, and all necessary governmental, regulatory
and shareholder consents and approvals required for the consummation of the B. Riley Merger/Equity Transactions have been, or
prior to the consummation thereof will be, duly obtained and in full force and effect. All applicable waiting periods with respect
to the B. Riley Merger/Equity Transactions have expired without any action being taken by any Governmental Authority which restrains,
prevents or imposes material adverse conditions upon the consummation of such transaction. At the time of consummation thereof,
there shall not exist any judgment, order or injunction prohibiting the B. Riley Merger/Equity Transactions or any transaction
contemplated hereby. The B. Riley Merger/Equity Transactions will be consummated on the Effective Date in accordance with the
terms of the B. Riley Merger/Equity Transaction Agreements, without waiver or amendment of any of the material conditions or provisions
thereof except to the extent agreed to by the Purchasers. The consummation by the Issuers of the B. Riley Merger/Equity Transactions
will not violate any statute or regulation of the U.S. or any other applicable jurisdiction, or any order, judgment or decree
of any court or other Governmental Authority, or result in a breach of, or constitute a default under, any Material Agreement
or any order or decree, binding on any Notes Party. The representations and warranties of the Notes Parties and, to the knowledge
of the Issuers, the other parties thereto in the B. Riley Merger/Equity Transaction Agreements are true and correct in all material
respects on the date of this Agreement. Complete and correct copies of all B. Riley Merger/Equity Transaction Agreements (including
all amendments thereto) have been delivered to the Purchasers prior to the Effective Date. All Indebtedness of the Notes Parties
to be paid off, and all Liens on the assets of the Notes Parties to be released, in connection with the B. Riley Merger/Equity
Transactions (as described in the funds flow statement in connection therewith) will be paid off and released, as applicable,
on the Effective Date simultaneously in connection with the closing of the B. Riley Merger/Equity Transactions except to the extent
agreed to by the Purchasers.

 

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ARTICLE IV

Conditions
to effective date

 

The obligations of
the Purchasers to purchase the Notes hereunder shall not become effective until the date on which each of the following conditions
is satisfied (or waived in accordance with Section 10.02 or addressed in a post-closing letter agreement); provided that each of
such conditions must be satisfied or waived on or before the Effective Date:

 

Section 4.01 Notes
Documents. The Purchasers (or their counsel) shall have received (a) from each party hereto either (i) a counterpart of this
Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Purchasers (which may include telecopy or
electronic mail message transmission of a signed signature page of this Agreement) that such party has signed a counterpart of
this Agreement and (b) duly executed copies of the Notes Documents and such other legal opinions, certificates, documents, instruments,
lien searches, and agreements and documents as the Purchasers or the Administrative Agent shall request and the completion of
such other due diligence and other conditions and requirements as the Purchasers shall request in connection with the Transactions,
all in form and substance satisfactory to the Purchasers and its counsel.

 

Section 4.02 Certificate.
The Purchasers and the Administrative Agent shall have received a certificate, signed by a Financial Officer of Alta Group and
in form and substance satisfactory to the Purchasers, on the Effective Date stating and showing that, after giving pro forma effect
to all Notes required to be made or issued on the Effective Date and all other amounts to be paid on the Effective Date, the satisfaction
of all closing conditions under this Article IV and the completion of all other Transactions to be completed on the Effective
Date, (a) no Default has occurred and is continuing, (b) the representations and warranties contained in Article III are true
and correct in all respects as of the date of this Agreement and as of the Effective Date, (c) all conditions precedent to the
closing of the Liftech Acquisition and the Flagler Acquisition (in each case, other than payment of the consideration) are satisfied
and, upon the purchase of the Notes and the payment of the consideration, the Flagler Acquisition shall be consummated in accordance
with the terms hereof and all representations in Section 3.25 are true and correct and the Liftech Acquisition shall be consummated
in accordance with the terms hereof and all representations in Section 3.26 are true and correct, (d) all financial covenants
in Section 6.13 are complied with on a pro forma basis acceptable to the Purchasers, and (e) the Issuers have performed and complied
with all agreements and conditions contained in this Agreement from the date of this Agreement until the Effective Date, assuming
that Articles V and VI hereof are applicable from the date of this Agreement.

 

Section 4.03 Fees.
The Purchasers and the Administrative Agent shall have received, substantially concurrently with the satisfaction or waiver of
the conditions in this Article IV, all fees required to be paid, and all expenses for which invoices have been presented (including
the reasonable fees and documented expenses of legal counsel to the Administrative Agent and the Purchasers), on or before the
Effective Date. All such amounts will be paid with proceeds of Notes purchased on the Effective Date and will be reflected in
the funding instructions given by the Notes Parties to the Purchasers and the Administrative Agent two (2) Business Days prior
to the Effective Date.

 

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Section 4.04 Existing
Indebtedness; Warrants. The Notes Parties shall have paid, concurrently with the issuance of Notes hereunder, all Indebtedness
that is not permitted hereunder (including any Indebtedness of Flagler, Liftech and their Subsidiaries) and shall have terminated
all credit facilities and all Liens relating thereto, all in a manner satisfactory to the Purchasers and their counsel. The Purchasers
shall have received evidence that that Warrant has been paid in full and cancelled.

 

Section 4.05 Insurance.
The Purchasers and the Administrative Agent shall have received evidence of insurance coverage in form, scope, and substance satisfactory
to the Purchasers, together with endorsements naming the Administrative Agent as additional insured and lenders’ loss payee
thereunder, and otherwise in compliance with the terms of Section 5.05.

 

Section 4.06 First
Lien Loans and Floor Plan Loans. Prior to or substantially simultaneously with the initial extensions of credit hereunder,
Issuers shall have received proceeds of (a) the First Lien Revolving Loans in an aggregate amount not to exceed $148,000,000 and
(b) a Floor Plan Loan in an aggregate amount not to exceed $40,000,000 in accordance with the closing funds flow and the Purchasers
and the Administrative Agent shall have received the First Lien Intercreditor Agreement duly executed by the First Lien Administrative
Agent, the Floor Plan Administrative Agent and each of the Notes Parties and copies of all final First Lien Loan Documents and
Floor Plan Loan Documents.

 

Section 4.07 B.
Riley Merger/Equity Transactions. Prior to or substantially simultaneously with the purchase of the Notes hereunder, Issuers
shall have consummated all B. Riley Merger/Equity Transactions, all on terms, conditions and agreements satisfactory to the Purchasers,
and shall have provided the Purchasers with copies of all B. Riley Merger/Equity Transaction Agreements.

 

Section 4.08 Intercreditor
Agreements. The Purchasers and the Administrative Agent shall have received copies of all agreements evidencing any other
floor plan financing of Alta Group and its Subsidiaries and, to the extent requested by the Purchasers, copies of all agreements
evidencing any other Indebtedness permitted hereunder, and shall have received intercreditor agreements, to the extent requested
by the Purchasers, with respect to all floor plan financing permitted hereunder executed by all applicable providers of such floor
plan financing, the Administrative Agent, the First Lien Administrative Agent and the Floor Plan Administrative Agent, each in
form and substance satisfactory to the Purchasers.

 

Section 4.09 Filings,
Registrations and Recordings. Each document (including any Uniform Commercial Code financing statement) required by the Collateral
Documents or under law or reasonably requested by the Purchasers to be filed, registered or recorded in order to create in favor
of the Administrative Agent, for the benefit of the Secured Parties, a perfected Lien on the Collateral described therein, prior
and superior in right to any other Person (other than with respect to Liens expressly permitted by Section 6.02), shall be
in proper form for filing, registration or recordation.

 

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Section 4.10 Financial
Statements; Projections. Purchasers shall have received from the Issuers (a) the Historical Financial Statements, (b) pro
forma consolidated and consolidating balance sheets of Issuers and their Subsidiaries as of the Effective Date, and reflecting
the Transactions to occur on or prior to the Effective Date, which pro forma financial statements shall be in form and substance
satisfactory to Purchasers, and (c) the projections referred to in Section 3.04(b).

 

Section 4.11 Availability.
On the Effective Date and immediately after giving effect to the Transactions contemplated to occur on the Effective Date and
the payment of all related costs and expenses, Issuers and their Subsidiaries shall have Availability of at least $75,000,000.

 

Section 4.12 Opinions
of Counsel. The Purchasers, the Administrative Agent and their respective counsel shall have received originally executed
copies of the written opinions of Howard & Howard Attorneys PLLC, counsel for Notes Parties, as to such matters as Purchasers
may reasonably request, dated as of the Effective Date and otherwise in form and substance reasonably satisfactory to Purchasers
(and each Notes Party hereby instructs such counsel to deliver such opinions to the Purchasers and the Administrative Agent).

 

Section 4.13 Corporate
Structure. The corporate structure, capital structure and other material debt instruments, material accounts and governing
documents of the Issuers and their Affiliates shall be acceptable to the Purchasers in their sole discretion.

 

Section 4.14 USA
PATRIOT Act, Etc. The Purchasers and the Administrative Agent shall have received all documentation and other information
required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules
and regulations, including USA PATRIOT Act, and a properly completed and signed IRS Form W-8 or W-9, as applicable, for each Notes
Party.

 

Section 4.15 Flagler
Acquisition. The Issuers shall have delivered all agreements and documents, and satisfied all other conditions, in connection
with the Flagler Acquisition as requested by the Purchasers.

 

Section 4.16 Liftech
Acquisition. The Issuers shall have delivered all agreements and documents, and satisfied all other conditions, in connection
with the Liftech Acquisition as requested by the Purchasers.

 

Section 4.17 Private
Placement Number. A Private Placement Number or a CUSIP Corporate Number issued by Standard & Poor’s CUSIP Service
Bureau (in cooperation with the Securities Valuation Office of the National Association of Insurance Commissioners) shall have
been obtained for the Notes.

 

Section 4.18 Commitment
Fee. On or prior to the Effective Date, the Issuers shall have paid to each Purchaser the fees set forth in such Purchaser’s
commitment letter or other fee letter. Such fee shall be fully earned when paid and shall not be refundable for any reason.

 

Section 4.19 Rating.
The Purchasers shall have received satisfactory evidence from Egan Jones Rating Company that, after taking into account the Transactions,
the Rating on the Notes is at least BBB-

 

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Section 4.20 Funding
Notice. The Purchasers shall have received fully executed Funding Notice from the Issuers with respect to the Notes at least
two Business Days prior to the Effective Date.

 

Section 4.21 Proceedings
and Documents. The Purchasers and the Administrative Agent shall have received such certificates, documents and other customary
instruments, and evidence of the satisfaction of such other conditions as requested by the Purchasers or the Administrative Agent,
including satisfactory results of a completed collateral field audit examination and floor plan audit examination and supporting
information. All corporate, limited liability and other proceedings in connection with the transactions contemplated by this Agreement
and all documents and instruments incident to such transactions shall be satisfactory to the Purchasers and the Administrative
Agent.

 

ARTICLE V

Affirmative
Covenants

 

From the date of this
Agreement until the Effective Date and thereafter, until all of the Secured Obligations shall have been Paid in Full, each Issuer
executing this Agreement covenants and agrees, jointly and severally with all of the other Issuers, with the Purchasers that:

 

Section 5.01 Financial
Statements and Other Information. The Issuers will furnish to the each Purchaser:

 

(a) by
no later than ninety (90) days after the end of each Fiscal Year, the audited consolidated balance sheet and related statements
of operations, stockholders’ equity and cash flows of Alta Group and its Subsidiaries as of the end of and for such Fiscal
Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all reported on by UHY LLP or other
independent public accountants reasonably acceptable to the Required Purchasers (without a “going concern” or
like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such
consolidated financial statements present fairly in all material respects the financial condition and results of operations of
Alta Group and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, and such report shall also
include (x) a detailed summary of any audit adjustments; (y) a reconciliation of any audit adjustments or reclassifications
to the previously provided quarterly financials; and (z) restated quarterly financials for any impacted periods;

 

(b) by
no later than (i) thirty (30) days after the end of each calendar month (including each month that is also the end of a Fiscal
Quarter), the unaudited consolidated and consolidating balance sheet and related statements of operations, stockholders’
equity and cash flows of Alta Group and its Subsidiaries as of the end of and for such month and the then elapsed portion of the
Fiscal Year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the
case of the balance sheet, as of the end of) the previous Fiscal Year, all certified by a Financial Officer of Alta Group as presenting
fairly in all material respects the financial condition and results of operations of Alta Group and its Subsidiaries on a consolidated
basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;
and (ii) forty-five (45) days after the end of each Fiscal Quarter, the unaudited consolidated and consolidating balance sheet
and related statements of operations, stockholders’ equity and cash flows of Alta Group and its Subsidiaries as of the end
of and for such Fiscal Quarter and the then elapsed portion of the Fiscal Year, setting forth in each case in comparative form
the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous Fiscal
Year, all certified by a Financial Officer of Alta Group as presenting fairly in all material respects the financial condition
and results of operations of Alta Group and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes;

 

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(c) simultaneous
with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer of each Issuer (i)
certifying as to whether an Event of Default has occurred and, if an Event of Default has occurred, specifying the details thereof
and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating
compliance with Section 6.13 and (iii) stating whether any change in GAAP or in the application thereof has occurred since the
date of the audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect
of such change on the financial statements accompanying such certificate;

 

(d) without
limiting the other reporting obligations hereunder, contemporaneously with, or promptly after, delivery thereof to the First Lien
Administrative Agent, the Floor Plan Administrative Agent or any other floor plan financing, copies of (i) notices of default under
the First Lien Loan Documents, the Floor Plan Loan Documents or any other floor plan financing; (ii) availability and borrowing
base reports; and (iii) all other financial or other reporting under the First Lien Loan Documents, the Floor Plan Loan Documents
or any floor plan financing that relate to the financial condition of Issuers and their Subsidiaries or related to the Collateral,
in each case, to the extent not already delivered to Administrative Agent or the Purchasers under this Section 5.01, unless such
reporting has been waived by the First Lien Administrative Agent, the Floor Plan Administrative Agent or holders of such floor
plan financing;

 

(e) promptly
and in any event within five (5) days of the filing thereof with the IRS, the federal tax returns of each Notes Party; and

 

(f) promptly
after any request therefor by the Administrative Agent or any Purchaser, copies of (i) any documents described in Section 101(k)(1)
of ERISA that any Issuer or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described
in Section 101(l)(1) of ERISA that any Issuer or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided
that if an Issuer or any ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of the applicable
Multiemployer Plan, the applicable Issuer or the applicable ERISA Affiliate shall promptly make a request for such documents and
notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof;

 

(g) promptly
following any request therefor, copies of any detailed audit reports or management letters submitted to the board of directors
(or the audit committee of the board of directors) of any Issuer by independent accountants in connection with the accounts or
books of any Issuer or any Subsidiary, or any audit of any of them as the Administrative Agent or any Purchaser (through the Administrative
Agent) may reasonably request;

 

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(h) as
soon as available but in any event no later than 31 days after the end of, and no earlier than 60 days prior to the end of, each
Fiscal Year of Alta Group, a copy of the plan and forecast (including a projected consolidated and consolidating balance sheet,
income statement and cash flow statement) of Alta Group and its Subsidiaries for each month of the upcoming fiscal year in form
reasonably satisfactory to the Required Purchasers;

 

(i) promptly
after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent
to the stockholders of Alta Group, and copies of all annual, regular, periodic and special reports and registration statements
which the any Notes Party may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any
national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent or the Purchasers
pursuant hereto;

 

(j) promptly,
and in any event within five Business Days after receipt thereof by any Notes Party or any Subsidiary thereof, copies of each notice
or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation
or possible investigation or other inquiry by such agency regarding financial or other operational results of any Notes Party or
any Subsidiary thereof; and

 

(k) promptly
following any request therefor, (i) a listing of accounts receivable, accounts payable and inventory, (ii) such other information
regarding the operations, business affairs and financial condition of any Notes Party including a schedule of amortization required
under any floor plan financing, or compliance with the terms of this Agreement, as the Administrative Agent or any Purchaser may
reasonably request and (iii) information and documentation reasonably requested by the Administrative Agent or any Purchaser for
purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including
the USA PATRIOT Act and the Beneficial Ownership Regulation.

 

Documents required to be delivered pursuant
to Section 5.01(a) or (b) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered
electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which such materials are publicly
available as posted on the Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”); or (ii) on which
such documents are posted on an Issuer’s behalf on an Internet or intranet website, if any, to which each Purchaser and the
Administrative Agent have free access (whether a commercial, third-party website or whether made available by the Administrative
Agent); provided that: (A) upon written request by the Administrative Agent (or any Purchaser through the Administrative
Agent) to the Issuer Representative, the Issuer Representative shall deliver paper copies of such documents to the Administrative
Agent or such Purchaser until a written request to cease delivering paper copies is given by the Administrative Agent or such Purchaser
and (B) the Issuer Representative shall notify the Administrative Agent and each Purchaser (by fax or through Electronic Systems)
of the posting of any such documents and provide to the Administrative Agent through Electronic Systems electronic versions (i.e.,
soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by any Issuer with
any such request by a Purchaser for delivery, and each Purchaser shall be solely responsible for timely accessing posted documents
or requesting delivery of paper copies of such documents to it and maintaining its copies of such documents.

 

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Section 5.02 Notices
of Material Events. The Issuers will furnish to the Administrative Agent and each Purchaser prompt (and in any event within
two (2) Business Days) written notice of the following:

 

(a) the
occurrence of any Default;

 

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

 

(c) the
occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected
to result in liability of the Notes Parties in an aggregate amount exceeding $2,500,000;

 

(d) any
material change in accounting or financial reporting practices by any Issuer or any Subsidiary, including without limitation the
manner in which equipment is depreciated;

 

(e) any
Lien (other than Permitted Encumbrances) or claim made or asserted against any of the Collateral;

 

(f) any
loss, damage, or destruction to the Collateral in the amount of $2,500,000 or more, whether or not covered by insurance;

 

(g) within
two (2) Business Days of receipt thereof, any and all default notices received under or with respect to any leased location or
public warehouse where Collateral having an aggregate value in excess of $2,500,000 is located;

 

(h) within
two (2) Business Days after the occurrence thereof, any Notes Party entering into a Swap Agreement or an amendment thereto, together
with copies of all agreements evidencing such Swap Agreement or amendment;

 

(i) any
amendment, supplement or other modification of any First Lien Loan Document, any Floor Plan Loan Document or any other floor plan
financing, together with a fully executed copy of such amendment, supplement or modification; and

 

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

 

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

 

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

 

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

 

Section 5.05  Maintenance
of Properties; Insurance. The Issuers will, and will cause each other Notes Party to, (a) keep and maintain all property
material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and
(b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks
as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar
locations, in each case as determined by the Required Purchasers. Without limiting the foregoing, the Issuers will and will
cause each other Notes Party to (i) at all times maintain, if available, fully paid flood hazard insurance on all real
property that is located in a special flood hazard area and that is subject to a Mortgage, on such terms and in such amounts
as required by The National Flood Insurance Reform Act of 1994 (as amended) or as otherwise required by any Purchaser, (ii)
furnish to the Administrative Agent evidence of renewal (and payment of renewal premiums therefor) of all such policies prior
to the expiration or lapse thereof, and (iii) furnish to the Administrative Agent prompt written notice of any re-designation
of any such improved real property into or out of a special flood hazard area. Each such policy of insurance shall
(i) name Administrative Agent, on behalf of Purchasers as an additional insured thereunder as its interests may appear,
and (ii) in the case of each casualty insurance policy, contain a lenders’ loss payable clause or endorsement,
satisfactory in form and substance to the Required Purchasers, that names Administrative Agent, on behalf of Purchasers, as
the lenders’ loss payee thereunder and provides for at least thirty days’ prior written notice to Administrative
Agent of any modification or cancellation of such policy.

 

Section 5.06 Books
and Records; Inspection Rights; Purchaser Meetings. The Issuers will, and will cause each other Notes Party to, keep proper
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. The Issuers will, and will cause each other Notes Party to, permit any representatives designated by
the Administrative Agent or any Purchaser, upon reasonable prior notice, to visit and inspect its properties, to examine and make
extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants,
all at such reasonable times and as often as reasonably requested. The Issuers will, and will cause each other Notes Party to,
permit independent agents or representatives acceptable to the Administrative Agent and the Required Purchasers to conduct comprehensive
field audits and floor plan audits of the each Notes Party’s books, records, properties and assets, including, without limitation,
all collateral subject to the Security Documents, and the Issuers (and the Guarantors, if any) shall pay for the reasonable costs
of such audits. The Issuers agree that the Administrative Agent and/or the Required Purchasers may require semi-annual appraisals
of the equipment of the Notes Parties and may, require periodic appraisals of the real property of the Notes Parties if determined
to be required by the Administrative Agent and/or the Required Purchasers, and may order additional appraisals upon and after
the occurrence of any Event of Default. Absent an Event of Default, the Administrative Agent may conduct annual field audits and
semi-annual appraisals of the equipment and inventory, subject to Section 10.03(a). Issuers will, upon the request of the Required
Purchasers, participate in a meeting with the Purchasers (provided, so long as no Event of Default then exists, each Purchaser
shall bear their own respective costs and expenses associated with their attendance at and/or participation in such meeting) once
during each Fiscal Year to be held at Alta Group’s corporate offices (or such other location as may be agreed to by the
Issuers and the Required Purchasers) at such time as may be agreed to by the Issuers and the Required Purchasers.

 

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Section 5.07 Compliance
with Laws. The Issuers will, and will cause each other Notes Party to, comply with all laws, rules, regulations and orders
of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect. No Issuer will, nor will it permit any other Notes Party,
to be or become subject at any time to any law, regulation, or list of any government agency (including, without limitation, the
U.S. Office of Foreign Asset Control list) that prohibits or limits any Purchaser from making any advance or extension of credit
to any Issuer or Guarantor or from otherwise conducting business with an Issuer or Guarantor, or fail to provide documentary and
other evidence of any Issuer’s or Guarantor’s identity as may be reasonably requested by any Purchaser at any time
to enable such Purchaser to verify each Issuer’s or Guarantor’s identity or to comply with any applicable law or regulation,
including, without limitation, Section 326 of the USA PATRIOT Act of 2001, 31 U.S.C. Section 5318. Each Issuer will maintain,
and cause each Notes Party to maintain, in effect and enforce policies and procedures designed to ensure compliance by the Notes
Parties and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.

 

Section 5.08 Use
of Proceeds. The proceeds of the Notes will be used to repay certain existing indebtedness of the Issuers and their Subsidiaries,
to finance the B. Riley Merger/Equity Transactions, the Flagler Acquisition and Liftech Acquisition, to pay costs, fees and expenses
in connection with the transactions contemplated hereunder, for working capital needs and for other general corporate purposes
of the Notes Parties in the ordinary course of business. No part of the proceeds of any Note will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X.
No Issuer will request any Note purchase, and no Issuer shall use, and each Issuer shall procure that its Subsidiaries and its
or their respective directors, officers, employees and agents shall not use, the proceeds of any Note (a) in furtherance of an
offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in
violation of any Anti-Corruption Laws, (b) for the purpose of funding, financing or facilitating any activities, business or transaction
of or with any Sanctioned Person, or in any Sanctioned Country to the extent that such activities, businesses or transaction would
be prohibited by Sanctions if conducted by a corporation incorporated in the U.S. or the European Union, or (c) in any manner
that would result in the violation of any Sanctions applicable to any party hereto.

 

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Section 5.09 Collateral
Security; Further Assurances.

 

(a) To
guarantee or secure the payment when due of the Secured Obligations, the Issuers will execute and deliver, or cause to be executed
and delivered, to the Purchasers and the Administrative Agent, Collateral Documents granting or providing for the following:

 

(i) Notes
Party Guaranties of all present and future Guarantors.

 

(ii) Security
Agreements granting a first priority, enforceable Lien and security interest, subject only to Liens permitted by Section 6.02,
on all present and future accounts, chattel paper, commercial tort claims, deposit accounts, documents, farm products, fixtures,
chattel paper, equipment, general intangibles, goods, instruments, inventory, investment property, letter-of-credit rights (as
terms are defined in the UCC) and all other personal property of each Notes Party.

 

(iii) Mortgages
granting a first priority, enforceable Lien and security interest, subject only to Liens permitted by Section 6.02, on all present
and future material fee real property (including fixtures) of each Notes Party, together with such documents and the satisfaction
of such other conditions customarily required in connection with Mortgages as reasonably determined by the Required Purchasers
and at the Issuers’ expense.

 

(iv) All
other security and collateral described in the Collateral Documents.

 

(b) The
Issuers agree that they will promptly (and in any event within 5 Business Days) notify the Administrative Agent of the formation
or acquisition of any Subsidiary or the acquisition of any assets on which a Lien is required to be granted and that is not covered
by existing Collateral Documents. Each Issuer agrees that it will promptly (and in any event within 5 Business Days) execute and
deliver, and cause each Notes Party to execute and deliver, promptly (and in any event within 5 Business Days) upon the request
of the Administrative Agent (at the direction of Required Purchasers), such joinder agreements, Notes Party Guaranties and other
Collateral Documents and other agreements, documents and instruments, each in form and substance reasonably satisfactory to the
Required Purchasers, sufficient to join each Notes Party as an Issuer to this Agreement, as a Guarantor under any Notes Party
Guaranty and to grant to the Administrative Agent, for the benefit of the Secured Parties, the Liens contemplated by this Agreement
and the Collateral Documents. In connection therewith, the Administrative Agent shall have received all documentation and other
information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know
your customer” rules and regulations, including the USA Patriot Act. The Issuers will deliver, and cause each other Notes
Party to deliver, to the Administrative Agent all original instruments payable to it with any endorsements thereto required by
the Administrative Agent and all original certificated securities and other certificates with respect to any Equity Interests
owned by any Notes Party and required to be pledged with any blank stock or other powers required by the Administrative Agent
(at the direction of the Required Purchasers). Additionally, the Issuers will execute and deliver, and cause each other Notes
Party to execute and deliver, promptly (and in any event within 5 Business Days) upon the request of the Administrative Agent
(at the direction of Required Purchasers), such certificates, legal opinions, insurance, lien searches, environmental reports,
organizational and other charter documents, resolutions and other documents and agreements as the Administrative Agent (at the
direction of Required Purchasers) may reasonably request in connection therewith. The Issuers will use commercially reasonable
efforts to cause each lessor of real property to any Notes Party where any material Collateral is located to execute and deliver
to the Administrative Agent an agreement in form and substance reasonably acceptable to the Required Purchasers. The Issuers will
execute and deliver, and cause each other Notes Party to execute and deliver, promptly (and in any event within 5 Business Days)
upon the request of the Administrative Agent (at the direction of Required Purchasers), such agreements and instruments evidencing
any intercompany loans or other advances among the Notes Parties, or any of them, and all such intercompany loans or other advances
owing by any Issuer or owing by any Guarantor which are not owed to an Issuer shall be, and are hereby made, subordinate and junior
to the Secured Obligations and no payments may be made on such intercompany loans or other advances upon and during the continuance
of an Event of Default unless otherwise agreed to by the Administrative Agent (at the direction of Required Purchasers).

 

(c) Notwithstanding
anything to the contrary in this Agreement, the Issuers acknowledge that all Subsidiaries of any of the Issuers, whether now existing
or hereafter arising, are required hereunder to become an Issuer, Guarantor and Note Party, and failure to do so in accordance
with the terms of this Agreement shall be an Event of Default hereunder.

 

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Section 5.10 Additional
Covenants. If at any time any Notes Party enters into or becomes a party to any instrument or agreement, relating to or amending
or otherwise modifying any provisions applicable to the First Lien Credit Agreement, which includes any material covenants or
defaults not substantially provided for in this Agreement or more favorable to the purchaser or purchasers thereunder than those
provided for in this Agreement, then the Issuers will promptly so advise the Administrative Agent and the Purchasers. Thereupon,
if the Administrative Agent or the Required Purchasers shall request, upon notice to the Issuers, the Administrative Agent and
the Purchasers shall enter into an amendment to this Agreement or an additional agreement (as the Administrative Agent (at the
direction of Required Purchasers) may request), providing for substantially the same material covenants and defaults as those
provided for in such instrument or agreement to the extent required and as may be selected by the Administrative Agent (at the
direction of Required Purchasers).

 

Section 5.11 Depository
Banks. The Notes Parties will maintain the First Lien Administrative Agent (or such other financial institution reasonably
acceptable to Required Purchasers) as such Notes Party’s principal depository bank, including for the maintenance of operating,
administrative, cash management, collection activity, and other deposit accounts for the conduct of its business and as its principal
source of other banking and cash management services. In addition, (a) NITCO may maintain a deposit account with Citizens Bank,
N.A. for up to 120 days after the date of this Agreement, and may maintain such account (or an account with a different bank satisfactory
to the Required Purchasers in place of such Citizens Bank, N.A. account) thereafter so long as such account is subject to a deposit
account control agreement satisfactory to the Required Purchasers, (b) Alta Construction Equipment Florida may maintain deposit
accounts required pursuant to the Flagler Acquisition Documents for up to 180 days after the date of this Agreement, or such later
date as consented to by the Required Purchasers in their sole discretion, (c) NITCO may continue to maintain the deposit account
with KeyBank National Association acquired pursuant to the Liftech Acquisition, so long as any funds in such account exceeding
$100,000 in the aggregate shall be immediately transferred to a deposit account with the First Lien Administrative Agent, and
(d) the Notes Parties may maintain such other deposit accounts as the Required Purchasers approve in their Permitted Discretion,
and such deposit accounts shall be subject to the terms of the Security Agreement.

 

Section 5.12 Rating.
The Issuers will maintain a Rating on the Notes from Egan Jones Rating Company at all times, and the Issuers will cause such rating
to be updated on each anniversary of the Effective Date. The Issuers will provide each Purchaser with a copy of any rating letter
or notification from Egan Jones Rating Company within five Business Days following receipt by the Issuers, in a form each Purchaser
may share with their regulators, including the Securities Valuation Office of the National Association of Insurance Commissioners.
Such form of rating letter or notification will identify the Notes to which such rating is applicable including the aggregate principal
amount, initial interest rate, maturity date and private placement number or a CUSIP Corporate Number assigned to the Notes.

 

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Although it will not be a Default if the Issuers fail to comply
with any provision of Article V on or after the date of this Agreement and prior to the Effective Date, if such a failure occurs,
then any of the Purchasers may elect not to purchase the Notes on the Effective Date.

 

ARTICLE VI

Negative
Covenants

 

From the date of this
Agreement until the Effective Date and thereafter, until all of the Secured Obligations shall have been Paid in Full, each Issuer
executing this Agreement covenants and agrees, jointly and severally with all of the other Issuers, with the Purchasers that:

 

Section 6.01 Indebtedness.
No Issuer will, nor will it permit any other Notes Party to, create, incur, assume or permit to exist any Indebtedness, except:

 

(a) Secured
Obligations;

 

(b) [reserved];

 

(c) First
Lien Obligations, provided that any increases in the amount thereof are subject to the First Lien Intercreditor Agreement and any
refinancing thereof shall be made in accordance with the First Lien Intercreditor Agreement;

 

(d) other
Indebtedness existing on the Effective Date and set forth in Schedule 6.01 and not to exceed the amounts set forth on Schedule
6.01, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount
thereof; provided that any floor plan financings set forth on Schedule 6.01 may be increased subject to compliance with
Section 6.01(i) and the other terms hereof, and the outstanding borrowed amounts under floor plan financings described on Schedule
6.01 shall be subject to Section 6.01(i) below;

 

(e) Indebtedness
among the Notes Parties, provided that any such Indebtedness owing by any Issuer shall qualify as Subordinated Debt if requested
by the Administrative Agent (at the direction of Required Purchasers);

 

(f) Indebtedness
of any Notes Party incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital
Lease Obligations (other than those Capital Lease Obligations permitted pursuant to Section 6.01(i) below) and any Indebtedness
assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition
thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount
thereof; provided that (i) such Indebtedness is incurred prior to or within ninety (90) days after such acquisition or the completion
of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause (f) shall
not exceed $3,000,000 at any time outstanding;

 

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(g) Swap
Obligations permitted under Section 6.05;

 

(h) Subordinated
Debt, including any refinancing thereof, in each case on terms reasonably satisfactory to the Required Purchasers;

 

(i) Indebtedness
of Notes Parties reasonably acceptable to the Required Purchasers consisting of floor plan financings (including any Floor Plan
Obligations) and other vendor financing reasonably acceptable to the Required Purchasers and, if required by the Required Purchasers,
subject to an intercreditor agreement reasonably acceptable to the Required Purchasers, provided that (i) the aggregate stated
maximum amount of all such floor plan financings and all such other vendor financing plus the aggregate stated maximum amount of
all floor plan financings described on Schedule 6.01 shall not exceed $225,000,000 at any time, provided, further, that
any Indebtedness owing to any Person and its Affiliates listed on Schedule 6.01 that is not a party to an intercreditor
agreement with the Administrative Agent and reasonably acceptable to, the Required Purchasers, shall not exceed the amount designated
on Schedule 6.01 for such Person and its Affiliates, regardless of whether such Indebtedness is otherwise permitted under
this clause (i) or any other clause of this Section 6.01 and notwithstanding any other term of this Agreement, and (y) no Default
exists or would be caused thereby; and

 

(j) Indebtedness
of the type described in clauses (d) or (m) of the definition of Indebtedness of any Notes Party in connection with a Permitted
Acquisition, not to exceed $10,000,000 in the aggregate outstanding at any time.

 

Notwithstanding the foregoing,
the Indebtedness contemplated by Sections 6.01(a), (c), (d), (f), (i) and (j) will not be provided by any Purchaser unless each
Purchaser either (x) provides its pro rata share of such Indebtedness or (y) declines to provide its pro rata share of such Indebtedness
(or fails to respond within five (5) Business Days of written notice thereof), in each case on the same terms as all other Purchasers.

 

Section 6.02 Liens.
At all times on and after the Effective Date, no Issuer will, nor will it permit any other Notes Party to, create, incur, assume
or permit to exist any Lien on any property or asset now owned or hereafter acquired by it except:

 

(a) Permitted
Encumbrances;

 

(b) Liens
in favor of the Administrative Agent securing the Secured Obligations and first priority Liens securing the First Lien Obligations
subject to the First Lien Intercreditor Agreement;

 

(c) any
Lien on any property or asset of any Notes Party existing on the Effective Date and set forth in Schedule 6.02; provided
that (i) such Lien shall not apply to any other property or asset of any Notes Party and (ii) such Lien shall secure only those
obligations which it secures on the Effective Date and extensions, renewals and replacements thereof that do not increase the outstanding
principal amount thereof;

 

(d) Liens
on fixed or capital assets acquired, constructed or improved by any Notes Party; provided that (i) such security interests secure
Indebtedness permitted by clause (e) of Section 6.01, (ii) such security interests and the Indebtedness secured thereby are
incurred prior to or within ninety (90) days after such acquisition or the completion of such construction or improvement, (iii)
the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets
and (iv) such security interests shall not apply to any other property or assets of any Notes Party; and

 

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(e) Liens
solely on equipment of a Notes Party acceptable to the Required Purchasers purchased with Indebtedness permitted under Section
6.01(i) on terms reasonably approved in writing by the Administrative Agent (at the direction of Required Purchasers).

 

Notwithstanding anything herein to the
contrary, the Liens securing any Indebtedness and other obligations under any floor plan financing (other than the Floor Plan Loans)
shall be limited to a Lien on the inventory financed by the applicable floor plan financing and proceeds of such inventory, and
any such Lien shall not attach to any other assets or any such inventory after the payment of the purchase price for such inventory.

 

Section 6.03 Fundamental
Changes.

 

(a) No
Issuer will, nor will it permit any other Notes Party to, merge into or consolidate with any other Person, or permit any other
Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series
of transactions) any of its assets, or liquidate or dissolve, except that, and provided that with respect to the matters in the
following clauses (ii) through (vi) at the time thereof and immediately after giving effect thereto no Default shall have occurred
and be continuing, (i) any Issuer or Subsidiary may sell, transfer or lease inventory and scrap or otherwise dispose of obsolete
material, inventory or equipment in the ordinary course of business upon terms substantially consistent with past practices, (ii)
any Subsidiary of an Issuer may merge into an Issuer in a transaction in which an Issuer is the surviving entity, (iii) any Notes
Party (other than an Issuer) may merge into any other Notes Party in a transaction in which the surviving entity is a Notes Party,
(iv) any Issuer may merge into any other Issuer (other than Alta Group), (v) any Notes Party may sell, transfer, lease or otherwise
dispose of its assets to any other Notes Party, and (vi) any Subsidiary may liquidate or dissolve if the Issuers determine in good
faith that such liquidation or dissolution is in the best interests of the Issuers and is not materially disadvantageous to the
Purchasers and all assets of such Subsidiary are transferred to a Notes Party; provided that any such merger involving a Person
that is not a wholly-owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section
6.04.

 

(b) No
Note Party will, nor will it permit any Subsidiary to, consummate a Division as the Dividing Person, without the prior written
consent of the Required Purchasers. Without limiting the foregoing, if any Note Party that is a limited liability company consummates
a Division (with or without the prior consent of the Required Purchasers as required above), each Division Successor shall be required
to comply with the obligations set forth in Section 5.09 and the other further assurances obligations set forth in the Notes Documents
and become a Note Party under this Agreement and the other Notes Documents.

 

(c) No
Issuer will, nor will it permit any other Notes Party to, engage to any material extent in any business other than businesses of
the type conducted by the Issuers and Guarantors on the date of execution of this Agreement and businesses reasonably related thereto.

 

Section 6.04 Investments,
Loans, Advances, Guarantees and Acquisitions. At all times on and after the Effective Date, no Issuer will, nor will it permit
any other Notes Party to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned
Subsidiary prior to such merger) any Equity Interests, evidences of indebtedness or other securities (including any option, warrant
or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations
of, or make or permit to exist any investment or any other interest in, any other Person, or make any Acquisition, except

 

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(a) Permitted
Investments;

 

(b) existing
investments and advances described on Schedule 6.04 hereto, but no increase in the amount thereof;

 

(c) loans
or advances solely among Notes Parties;

 

(d) if
no Default exists or would be caused thereby, Guarantees constituting Indebtedness permitted by Section 6.01, provided that no
Default exists at the time of, or would be caused by, the incurrence of such Guarantees;

 

(e) investments
received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers
and suppliers, in each case in the ordinary course of business;

 

(f) the
Notes Parties may create one or more Subsidiaries to conduct the business of the Issuers in accordance with Section 5.03 so long
as such Subsidiaries promptly after their creation become Guarantors;

 

(g) Permitted
Acquisitions; and

 

(h) in
addition to investments, loans and advances permitted by paragraphs (a) through (g) above, other investments, loans and advances
by the Issuers and the Guarantors provided that (i) the aggregate amount invested, loaned or advanced pursuant to this paragraph
(h) (determined without regard to any write-downs or write-offs of such investments, loans and advances) does not exceed $500,000
in the aggregate, (ii) no Default exists or would be caused thereby, and (iii) the First Lien Available Revolving Commitments on
a pro forma basis after giving effect to such additional investment, loan or advance equals or exceeds $5,000,000.

 

Section 6.05 Swap
Agreements. No Issuer will, nor will it not permit any other Notes Party to, enter into any Swap Agreement, except (a) Swap
Agreements entered into to hedge or mitigate risks to which any Notes Party has actual exposure, (b) Swap Agreements entered into
in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another
floating rate or otherwise) with respect to any interest-bearing liability or investment of any Notes Party and (c) in each case
under clause (a) and (b), to the extent reasonably approved by Required Purchasers.

 

Section 6.06 Restricted
Payments. At all times on and after the Effective Date, no Issuer will, nor will it permit any other Notes Party to, declare
or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except:

 

(a) the
Notes Parties may declare and pay dividends with respect to its Equity Interests payable solely in additional common shares of
its Equity Interests (other than Disqualified Equity);

 

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(b) the
Notes Parties may make Restricted Payments payable solely to a Notes Party;

 

(c) Alta
Group may make other Restricted Payments so long as (i) after giving effect to such Restricted Payment pursuant to this clause
(c) the Total Leverage Ratio is less than 4.05 to 1.00 (determined as if such Restricted Payment had been made on the last day
of the most recent Fiscal Quarter for which the Issuers have provided financial statements to the Purchasers pursuant to Section
5.01) and the Issuers have provided evidence of such compliance in form and substance satisfactory to the Purchasers, (ii) the
Payment Condition is satisfied, and (iii) on or prior to making such Restricted Payment, the Issuers shall have prepaid the Notes
if and to the extent required by this Agreement.

 

Notwithstanding the
foregoing, the Issuers will not, and will not permit any Subsidiary to, issue any Disqualified Equity.

 

Section 6.07 Transactions
with Affiliates. No Issuer will, nor will it permit any other Notes Party to, sell, lease or otherwise transfer any property
or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions
with, any of its Affiliates, except (a) in the ordinary course of business at prices and on terms and conditions not less favorable
to such Notes Party than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions solely
among Notes Parties, and in each case not involving any other Affiliate and (c) any Restricted Payment permitted by Section 6.06.

 

Section 6.08 Restrictive
Agreements. No Issuer will, nor will it permit any other Notes Party to, directly or indirectly, enter into, incur or permit
to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of any Notes
Party to create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to
pay dividends or other distributions with respect to any shares of its Equity Interests or to make or repay loans or advances
to an Issuer or any other Subsidiary or to Guarantee Indebtedness of the Issuers or any other Subsidiary; provided that (i) the
foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii) the foregoing shall not apply
to restrictions and conditions imposed by the First Lien Credit Agreement or the Floor Plan Credit Agreement as of the Effective
Date, subject to the First Lien Intercreditor Agreement, (iii) the foregoing shall not apply to customary restrictions and conditions
contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply
only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) above shall not apply to restrictions
or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness and (v) clause (a) above shall not apply to customary provisions
in leases restricting the assignment thereof.

 

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Section 6.09 Change
of Name or Location; Change of Fiscal Year. No Issuer will, nor will it permit any other Notes Party to (a) change its name
as it appears in official filings in the state of its incorporation or organization, (b) change its chief executive office, principal
place of business, mailing address, corporate offices or warehouses or locations at which Collateral is held or stored, or the
location of its records concerning the Collateral as set forth in the Collateral Documents, (c) change the type of entity that
it is, (d) change its organization identification number, if any, issued by its state of incorporation or other organization,
or (e) change its state of incorporation or organization, in each case, unless the Administrative Agent shall have received at
least thirty (30) days prior written notice of such change and the Administrative Agent shall have acknowledged in writing (such
acknowledgement made at the direction of the Required Purchasers) that either (1) such change will not adversely affect the validity,
perfection or priority of the Administrative Agent’s security interest in the Collateral, or (2) any reasonable action requested
by the Required Purchasers in connection therewith has been completed or taken (including any action to continue the perfection
of any Liens in favor of the Administrative Agent, on behalf of Purchasers, in any Collateral), provided that, any new location
shall be in the continental U.S. No Notes Party will change its Fiscal Year or Fiscal Quarter end without the prior consent of
the Required Purchasers.

 

Section 6.10 Amendments
to Agreements. No Issuer will, nor will it permit any other Notes Party to, amend, supplement or otherwise modify (a) its
articles of incorporation, charter, certificate of formation, operating agreement, by-laws or other organizational document in
any manner adverse to the Purchasers, (b) any First Lien Loan Document or Floor Plan Loan Document, except as permitted under
the First Lien Intercreditor Agreement, or (c) any instrument or agreement evidencing or relating to any Subordinated Debt except
as permitted under the applicable Subordination Agreement.

 

Section 6.11 Prepayment
of Indebtedness; Subordinated Debt. At all times on and after the Effective Date, no Issuer will, nor will it permit any other
Notes Party to, directly or indirectly (a) voluntarily purchase, redeem, defease or prepay any principal of, premium, if any,
interest or other amount payable in respect of any Indebtedness prior to its scheduled maturity, other than (i) the First Lien
Obligations, (ii) the Secured Obligations; (iii) Indebtedness secured by a Lien permitted by Section 6.02(c) if the asset
securing such Indebtedness has been sold or otherwise disposed of in accordance herewith; and (iv) Indebtedness permitted hereunder
upon any permitted refinancing thereof in accordance herewith, or (b) make any payment or other distribution with respect to any
Subordinated Debt in contravention of the applicable Subordination Agreement or with respect to any First Lien Obligations in
contravention of the First Lien Intercreditor Agreement.

 

Section 6.12 Government
Regulation. No Issuer will, nor will it permit any Notes Party to, become subject at any time to any law, regulation, or list
of any government agency (including, without limitation, the U.S. Office of Foreign Asset Control list) that prohibits or limits
any Purchaser from making any advance or extension of credit to any Notes Party or from otherwise conducting business with the
Issuers or Guarantors, or fail to provide documentary and other evidence of any Notes Party’s identity as may be requested
by any Purchaser at any time to enable such Purchaser to verify any Notes Party’s identity or to comply with any applicable
law or regulation, including, without limitation, Section 326 of the USA PATRIOT Act of 2001, 31 U.S.C. Section 5318.

 

Section 6.13 Financial
Covenants. The Issuers will not:

 

(a) Total
Leverage Ratio. Permit or suffer the Total Leverage Ratio to exceed (i) 4.70 to 1.00 as of the end of any Fiscal Quarter ending
on or after March 31, 2020 but on or before December 31, 2020, (ii) 4.30 to 1.00 as of the end of any Fiscal Quarter ending on
or after March 31, 2021 but on or before December 31, 2021, (iii) 4.20 to 1.00 as of the end of any Fiscal Quarter ending on or
after March 31, 2022 but on or before December 31, 2022 or (iv) 4.00 to 1.00 as of the end of any Fiscal Quarter ending on or after
March 31, 2023.

 

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(b) First
Lien Leverage Ratio. Permit or suffer the First Lien Leverage Ratio to exceed 2.50 to 1.00 as of the end of any Fiscal Quarter
ending on or after March 31, 2020.

 

(c) Book
Value Ratio. Permit or suffer the Consolidated Note Coverage Ratio to be less than 1.10 to 1.00 at any time.

 

(d) Minimum
EBITDA. Permit of suffer the result of (i) Consolidated EBITDA less (ii) any noncash gains or losses on the sale of fixed or
capital assets offset for gains from the sale of fixed or capital assets calculated (A) at the price at which the applicable Notes
Party sold the applicable asset, minus (B) such Note Party’s initial purchase price of such asset (for the avoidance of doubt,
without reducing this clause (B) for any depreciation or amortization thereof) to be less than $79,000,000 for the Fiscal Year
ended December 31, 2019.

 

(e) Fixed
Charge Coverage Ratio. As of the end of any Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2020 for which
Issuers’ financial statements have been (or should have been) delivered prior to the date on which the Issuers’ Availability
is less than 10% of the Revolving Commitment, the Issuers will not permit the Fixed Charge Coverage Ratio to be less than 1.0 to
1.0. Once such covenant is in effect, compliance with the covenant will be discontinued on the first day immediately succeeding
the last day of the Fiscal Quarter which includes the 60th consecutive day on which the Issuers’ Availability remains in
excess of 10% of the Revolving Commitment, so long as (i) no Default shall have occurred and be continuing and (ii) such covenant
has not been in effect and discontinued (A) more than once in the immediately preceding twelve (12) consecutive months or (B) more
than three times during the term of this Agreement. Notwithstanding anything in this Agreement to the contrary, for the purposes
of calculating the Fixed Charge Coverage Ratio, the Issuer’s historical EBITDA, Capital Expenditures and Fixed Charges generated
and paid prior to the Effective Date shall be deemed equal to such amounts as set forth on Schedule 6.13(e) hereto for the
applicable periods described on Schedule 6.13(e).

 

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Section 6.14 Alta
Group, Alta Holdings, and Alta Enterprises as a Holding Company. Alta Enterprises shall not (a) incur, directly or indirectly,
any Indebtedness or any other obligation or liability whatsoever other than the Indebtedness and obligations under the Notes Documents,
the Floor Plan Loan Documents and the First Lien Loan Documents and unsecured guaranties of its Subsidiaries floor plan financing
with Volvo Commercial Finance LLC The Americas in respect of Volvo financing; (b) create or suffer to exist any Lien upon any
property or assets now owned or hereafter acquired by it other than the Liens, subject to the First Lien Intercreditor Agreement,
in favor of the Administrative Agent, the Floor Plan Administrative Agent and the First Lien Administrative Agent; (c) engage
in any business or activity or own any assets other than (i) holding 100% of the Equity Interest of each other Issuer (other than
Alta Group and Alta Holdings); and (ii) performing its obligations and activities incidental thereto under the Notes Documents,
the Floor Plan Loan Documents and the First Lien Loan Documents; (d) consolidate with or merge with or into, or convey, transfer
or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any Equity Interests of any of its
Subsidiaries; or (f) fail to hold itself out to the public as a legal entity separate and distinct from all other Persons. Alta
Holdings shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation or liability whatsoever other than
the Indebtedness and obligations under the Loan Documents, the Notes Documents, the Floor Plan Loan Documents and the First Lien
Loan Documents; (b) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other
than the Liens, subject to the First Lien Intercreditor Agreement, in favor of the Administrative Agent, the Floor Plan Administrative
Agent and the First Lien Administrative Agent; (c) engage in any business or activity or own any assets other than (i) holding
the Equity Interest of Alta Enterprises; and (ii) performing its obligations and activities incidental thereto under the Notes
Documents, the Floor Plan Loan Documents and the First Lien Loan Documents; (d) consolidate with or merge with or into, or convey,
transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any Equity Interests of
Alta Enterprises other than to Alta Group; or (f) fail to hold itself out to the public as a legal entity separate and distinct
from all other Persons. Alta Group shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation or liability
whatsoever other than the Indebtedness and obligations under the Notes Documents, the Floor Plan Loan Documents and the First
Lien Loan Documents; (b) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it
other than the Liens, subject to the First Lien Intercreditor Agreement, in favor of the Administrative Agent, the Floor Plan
Administrative Agent and the First Lien Administrative Agent; (c) engage in any business or activity or own any assets other than
(i) holding the Equity Interest of Alta Holdings and Alta Enterprises; and (ii) performing its obligations and activities incidental
thereto under the Notes Documents, the Floor Plan Loan Documents and the First Lien Loan Documents; (d) consolidate with or merge
with or into, or convey, transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of
any Equity Interests of Alta Enterprises or Alta Holdings; or (f) fail to hold itself out to the public as a legal entity separate
and distinct from all other Persons.

 

Section 6.15 Compliance
with Anti-Terrorism and Anti-Corruption Laws and Sanctions. No Issuer will, nor will it permit any Notes Party to:

 

(a) (i)
violate any Anti-Terrorism Laws or Anti-Corruption Laws, (ii) engage in any transaction, investment, undertaking or activity that
conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization
for Economic Co-operation and Development’s Financial Action Task Force on Money Laundering, (iii) become (including by virtue
of being owned or controlled by a Blocked Person), own or control a Blocked Person or any other Sanctioned Person or (iv) knowingly
permit any of their respective Affiliates to violate such laws or engage in such actions; or

 

(b) (i)
deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism
Law or Sanctions, or (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading
or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or Sanctions or (iii) knowingly
permit any of their respective Affiliates to do any of the foregoing.

 

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Although it will not be a Default if the Issuers fail to comply
with any provision of Article VI before or after giving effect to the issuance of the Notes on a pro forma basis, if such a failure
occurs, then any of the Purchasers may elect not to purchase the Notes on the Effective Date.

 

ARTICLE VII

Events
of Default

 

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

 

(a) any
Issuer shall fail to pay any principal of any Note, any Make-Whole Amount as required by Section 2.10(b), any premium as required
by Section 2.10(c), in each case, when and as the same shall become due and payable, whether at the due date thereof or at a date
fixed for prepayment thereof or otherwise;

 

(b) any
Issuer shall fail to pay any interest on any Note, any break funding payment as required by Section 2.15 or any fee or any other
amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement or any other Notes Document,
when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three (3) Business
Days;

 

(c) any
representation or warranty made or deemed made by or on behalf of any Notes Party in or in connection with this Agreement or any
other Notes Document or any amendment or modification hereof or waiver hereunder or thereunder, or in any report, certificate,
financial statement or other document furnished pursuant to or in connection with this Agreement or any amendment or modification
hereof or waiver hereunder, shall prove to have been incorrect in any material respect when made or deemed made;

 

(d) any
Notes Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.01, 5.02, 5.03, 5.05,
5.08, 5.09, 5.10, or 5.11 or in Article VI;

 

(e) any
Notes Party shall fail to observe or perform any covenant, condition or agreement contained in this Agreement or any other Notes
Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for
a period of fifteen (15) days after the earlier of (i) the Issuers obtaining actual knowledge of such default and (ii) notice thereof
from the Administrative Agent to the Issuers (which notice will be given at the request of any Purchaser);

 

(f) (i)
any Notes Party shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material
Indebtedness, when and as the same shall become due and payable and all applicable grace periods thereunder shall have expired,
or (ii) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or
that enables (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (f) shall not apply to
secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness;

 

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(g) [reserved];

 

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

 

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

 

(j) any
Notes Party shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;

 

(k) one
or more judgments for the payment of money in an aggregate amount in excess of $2,500,000 shall be rendered against any Notes Party
or any combination thereof and the same shall remain undischarged for a period of thirty (30) consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets
of any Notes Party to enforce any such judgment;

 

(l) an
ERISA Event shall have occurred that, in the opinion of the Required Purchasers, when taken together with all other ERISA Events
that have occurred, could reasonably be expected to result in liability of any Notes Party in an aggregate amount exceeding $2,500,000
for all periods;

 

(m) a
Change in Control shall occur;

 

(n) any
Collateral Document shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity
or unenforceability of any Collateral Document, or any Notes Party shall fail to comply with any of the terms or provisions of
any Collateral Document if the failure continues beyond any period of grace provided for in the applicable Collateral Document,
or any Collateral Document granting a Lien shall for any reason fail to create a valid and perfected second priority (subject to
the first priority Lien in favor of First Lien Administrative Agent and Floor Plan Administrative Agent) security interest in any
material Collateral purported to be covered thereby or subordination to be created thereunder, except as permitted by the terms
of this Agreement or any Collateral Document, and in each case except to the extent that any such loss of perfection or priority
results from the failure of the Administrative Agent to maintain possession of certificates representing securities pledged under
the Collateral Documents and except to the extent that such loss is covered by a purchaser’s title insurance policy and the
related insurer promptly after such loss shall have acknowledged in writing that such loss is covered by such title insurance policy;

 

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(o) any
material provision of any other Notes Document for any reason ceases to be valid, binding and enforceable in accordance with its
terms (or any Notes Party shall challenge the enforceability of any Notes Document or shall assert in writing, or engage in any
action or inaction based on any such assertion, that any provision of any of the Notes Documents has ceased to be or otherwise
is not valid, binding and enforceable in accordance with its terms);

 

(p) the
cancellation or termination of any franchise agreement of any Issuer with Hyster-Yale Group, Inc. or Volvo Construction Equipment,
NA (collectively, the “Material OEMs”), unless such Issuer has entered into replacement franchise agreements
within 90 days of such cancellation or termination (i) with another OEM of comparable business value to the Material OEMs, and
(ii) upon similar terms and conditions to the agreements cancelled or terminated with the Material OEMs, including volume, exclusivity
and other requirements, each of which shall be acceptable in form and substance to the Required Purchasers in their Permitted Discretion;
or

 

(q) any Subordination
Agreement or Intercreditor Agreement shall fail to remain in full force or effect, or any event of default shall have occurred
under any Subordination Agreement or Intercreditor Agreement, or any action shall be taken to discontinue or to assert the invalidity
or unenforceability of any provision of any Subordination Agreement or Intercreditor Agreement; then, and in every such event
(other than an event with respect to any Issuer described in clause (a), (b), (h) or (i) of this Article), and at any time thereafter
during the continuance of such event, the Administrative Agent, at the request of the Required Purchasers, shall, by notice to
the Issuers, take any or all of the following actions, at the same or different times: (i) declare the Notes then outstanding
to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be
declared to be due and payable), and thereupon the principal of the Notes so declared to be due and payable, together with accrued
interest thereon, any break funding payments due pursuant to Section 2.15, any Make-Whole Amount as required by Section 2.10(b),
any premium as required by Section 2.10(c) and all fees and other obligations of the Issuers accrued hereunder, shall become due
and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Issuers; and (ii) exercise any rights and remedies provided to the Administrative Agent under the Notes Documents or at law or
equity, including all remedies provided under the UCC. In case of any event with respect to the Issuers described in clause (a)
or (b) of this Article, the Administrative Agent, at the request of any Purchaser affected by such event, shall, by notice to
the Issuers, take any or all of the following actions, at the same or different times: (i) declare the Notes held by such Purchaser
then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable
may thereafter be declared to be due and payable), and thereupon the principal of the Notes so declared to be due and payable,
together with accrued interest thereon, any break funding payments due pursuant to Section 2.15, any Make-Whole Amount as required
by Section 2.10(b), any premium as required by Section 2.10(c) and all fees and other obligations of the Issuers accrued hereunder,
shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by the Issuers; and (ii) exercise any rights and remedies provided to the Administrative Agent under the Notes Documents
or at law or equity, including all remedies provided under the UCC. In case of any event with respect to the Issuers described
in clause (h) or (i) of this Article, the principal of the Notes then outstanding, together with accrued interest thereon, any
break funding payments due pursuant to Section 2.15, any Make-Whole Amount as required by Section 2.10(b), any premium as required
by Section 2.10(c) and all fees and other obligations of the Issuers accrued hereunder, shall automatically become due and payable,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Issuers and the Administrative
Agent may exercise any rights and remedies provided to the Administrative Agent under the Notes Documents or at law or equity,
including all remedies provided under the UCC.

 

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ARTICLE VIII

Representations
and Warranties of Purchasers

 

Each Purchaser hereby
represents and warrants to Issuers as follows:

 

Section 8.01 Existence.
It is duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its organization.

 

Section 8.02 Authority.
It has the right and power and authority to enter into, to execute, to deliver and to perform its obligations under this Agreement,
and its partners, officers, or agents executing and delivering this Agreement are duly authorized to do so. This Agreement has
been duly and validly executed and delivered and constitutes the legal, valid and binding obligation of such Purchaser, enforceable
against such Purchaser in accordance with its terms.

 

Section 8.03 [Reserved].

 

Section 8.04 Investment
for Own Account. Such Purchaser is purchasing the Notes for investment for its own account and not with a view towards the
sale or distribution thereof in violation of applicable securities laws of the United States or any state thereof. Such Purchaser
acknowledges there are restrictions on its ability to resell the Notes under applicable securities laws and under each Issuer’s
organizational documents.

 

Section 8.05 Transfer
Restrictions. Such Purchaser understands that the offering and sale of the Notes by the Issuers is intended to be exempt from
registration under the Securities Act pursuant to section 4(2) thereof; the Issuers are not registering the Notes under the Securities
Act or any state securities laws; and there is no existing public or other market for the Notes. Such Purchaser understands that
any certificate representing the Notes that are issued to such Purchaser may bear, in the Issuers’ discretion, the following
restrictive legend and will be restricted from transfer in accordance with such legend:

 

“This Note has not been
and will not be registered under the United States Securities Act of 1933 (the “Securities Act”) or with any securities
regulatory authority of any state or other jurisdiction of the United States. The holder hereof, by purchasing or otherwise acquiring
this security, acknowledges that this security has not been registered under the Securities Act. The holder agrees for the benefit
of the Issuer, any distributors or dealers and any such persons’ affiliates that this security may be offered, resold, pledged
or otherwise transferred only in compliance with the Securities Act and any applicable state securities laws and only (1) pursuant
to Rule 144 under the Securities Act or (2) pursuant to an exemption from registration under the Securities Act, and in each case
in accordance with any applicable securities laws of the states of the United States and other jurisdictions. The holder acknowledges
that the purpose of the foregoing limitation is, in part, to ensure that the issuer is not required to register under the Securities
Act.”

 

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Section 8.06 Sophistication.
Such Purchaser (i) is a sophisticated purchaser with respect to the purchase of the Notes, (ii) is an “accredited investor”
as such term is defined pursuant to Regulation D promulgated under the Securities Act, (iii) is able to bear the economic risk
associated with the purchase of the Notes, (iv) has had an opportunity to ask questions of the principal officers and representatives
of the Issuers and to obtain any additional information necessary to permit an evaluation of the benefits and risks associated
with the investment made hereby, (v) has adequate information concerning the business and financial condition of Issuer to make
an informed decision regarding the purchase of the Notes, (vi) has such knowledge and experience, and has made investments of
a similar nature, so as to be aware of the risks and uncertainties inherent in the purchase of rights and assumption of liabilities
of the type contemplated in this Agreement and (vii) has independently and without reliance upon any Issuer, and based on such
information as such Purchaser has deemed appropriate, made its own analysis and decision to enter into this Agreement, except
that such Purchaser has relied upon Issuers’ express representations and warranties in this Agreement and other Notes Documents.
Such Purchaser acknowledges that no Issuer has given such Purchaser any investment advice, credit information or opinion as to
whether the purchase of the Notes is prudent.

 

Section 8.07 Brokers.
There are no, nor is there any basis for any, claims for brokerage commissions, finders’ fees or similar compensation in
connection with the transactions contemplated by this Agreement based on any arrangement or agreement binding upon such Purchaser.

 

Section 8.08 Source
of Funds. Each Purchaser severally represents that at least one of the following statements is an accurate representation
as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes
to be purchased by such Purchaser hereunder:

 

(a) the
Source is an “insurance company general account” (as the term is defined in the United States Department of Labor’s
Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined
by the annual statement for life insurance companies approved by the NAIC (the “NAIC Annual Statement”)) for
the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and
liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same
employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed
10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set
forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or

 

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(b) the
Source is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual obligations
under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such
separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by
the investment performance of the separate account; or

 

(c) the
Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a bank collective investment
fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Issuers in writing pursuant to this
clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns
more than 10% of all assets allocated to such pooled separate account or collective investment fund; or

 

(d) the
Source constitutes assets of an “investment fund” (within the meaning of Part VI of PTE 84-14 (the “QPAM Exemption”))
managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM
Exemption), no employee benefit plan’s assets that are managed by the QPAM in such investment fund, when combined with the
assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning
of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent
more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied,
neither the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the any Issuer that would
cause the QPAM and such Issuer to be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity
of such QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets
of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part
VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such
investment fund, have been disclosed to the Issuers in writing pursuant to this clause (d); or

 

(e) the
Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the “INHAM Exemption”))
managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption),
the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled
by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest
in any Issuer and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the
Source have been disclosed to the Issuers in writing pursuant to this clause (e); or

 

(f) the
Source is a governmental plan; or

 

(g) the
Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans,
each of which has been identified to the Issuers in writing pursuant to this clause (g); or

 

(h) the
Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.

 

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As used in this Section
8.08, the terms “employee benefit plan,” “governmental plan,” and “separate account”
shall have the respective meanings assigned to such terms in section 3 of ERISA

 

ARTICLE IX

The
Administrative Agent

 

Each of the Purchasers,
on behalf of itself and any of its Affiliates that are Secured Parties, hereby irrevocably appoints the Administrative Agent as
its agent and authorizes the Administrative Agent to take such actions on its behalf, including execution of the other Notes Documents,
and to exercise such powers as are delegated to the Administrative Agent by the terms of the Notes Documents, together with such
actions and powers as are reasonably incidental thereto. In addition, to the extent required under the laws of any jurisdiction
other than the U.S., each of the Purchasers hereby grants to the Administrative Agent any required powers of attorney to execute
any Collateral Document governed by the laws of such jurisdiction on such Purchaser’s behalf. The provisions of this Article
are solely for the benefit of the Administrative Agent and the Purchasers, and the Notes Parties shall not have rights as a third
party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” as
used herein or in any other Notes Documents (or any similar term) with reference to the Administrative Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such
term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent
contracting parties.

 

The Administrative
Agent and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with any Notes Party
or other Affiliate thereof as if it were not the Administrative Agent hereunder.

 

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The Administrative
Agent shall not have any duties or obligations except those expressly set forth in the Notes Documents. Without limiting the generality
of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary
action or exercise any discretionary powers, and (c) except as expressly set forth in the Notes Documents, the Administrative Agent
shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Notes
Party or any Subsidiary that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates
in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Purchasers (or such other number or percentage of the Purchasers as shall be necessary under the circumstances
as provided in Section 10.02) or in the absence of its own gross negligence or willful misconduct as determined by a final nonappealable
judgment of a court of competent jurisdiction. The Administrative Agent shall be deemed not to have knowledge of any Default unless
and until written notice thereof is given to the Administrative Agent by the Issuer Representative or a Purchaser, and the Administrative
Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with any Notes Document, (ii) the contents of any certificate, report or other document delivered hereunder
or in connection with any Notes Document, (iii) the performance or observance of any of the covenants, agreements or other terms
or conditions set forth in any Notes Document, (iv) the validity, enforceability, effectiveness or genuineness of any Notes Document
or any other agreement, instrument or document, (v) the creation, perfection or priority of Liens on the Collateral or the existence
of the Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere in any Notes Document, other
than to confirm receipt of items expressly required to be delivered to the Administrative Agent. As to any matters not expressly
provided for by this Agreement (including collection of any amounts due on the Notes) or any matter that would require the Administrative
Agent to exercise any discretion hereunder or under any other Notes Document, including without limitation, in connection with
the enforcement of any right or remedy under the Notes Documents whether before or after a default, in connection with a bankruptcy
proceeding (or similar relief) or otherwise, the Administrative Agent shall not be required to exercise any discretion or take
any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from
acting) solely upon the instructions of the Required Purchasers, and such instructions shall be binding; provided however, that
the Administrative Agent shall not be required to take any action at the direction of the Required Purchasers or otherwise which
exposes the Administrative Agent to liability or which is contrary to this Agreement or the other Notes Documents or applicable
law unless the Administrative Agent is furnished with an indemnification satisfactory to Administrative Agent with respect thereto.
The Administrative Agent may at any time request instructions from the Purchasers with respect to any actions or approvals which
by the terms of this Agreement or of any of the other Notes Documents the Administrative Agent is permitted or required to take
or to grant. Whether or not the Administrative Agent makes such a request, at all times except with respect to an express obligation
set forth herein, the Administrative Agent shall be entitled to refrain from such act or taking such action unless and until the
Administrative Agent shall have received instructions from the Required Purchasers, and the Administrative Agent shall not incur
liability to any person by reason of so refraining. If, in performing its duties under this Agreement, the Administrative Agent
is required to decide between alternative courses of action or has received conflicting directions or any other directions from
Purchasers who do not satisfy the definition of Required Purchasers, the Administrative Agent may refrain from taking any action
until it receives instructions from the Required Purchasers.

 

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Each party to this
Agreement acknowledges and agrees that the Administrative Agent may from time to time use one or more outside service providers
for the tracking of all UCC financing statements (and/or other collateral related filings and registrations from time to time)
required to be filed or recorded pursuant to the Notes Documents and the notification to the Administrative Agent, of, among other
things, the upcoming lapse or expiration thereof, and that each of such service providers will be deemed to be acting at the request
and on behalf of Issuers. The Administrative Agent shall not be liable for any action taken or not taken by any such service provider.
The Administrative Agent shall not be liable for any action taken in good faith and reasonably believed by it to be within the
powers conferred upon it, or taken by it pursuant to any direction or instruction by which it is governed, or omitted to be taken
by it by reason of the lack of direction or instruction required hereby for such action (including without limitation for refusing
to exercise discretion or for withholding its consent in the absence of its receipt of, or resulting from a failure, delay or refusal
on the part of any Purchaser to provide, written instruction to exercise such discretion or grant such consent from any such Purchaser,
as applicable). The Administrative Agent shall not shall be liable for any error of judgment made in good faith unless it shall
be proven that the Administrative Agent was grossly negligent in ascertaining the relevant facts. Nothing herein or in any other
Notes Document or related documents shall obligate any the Administrative Agent to advance, expend or risk its own funds, or to
take any action which in its reasonable judgment may cause it to incur any expense or financial or other liability for which it
is not adequately indemnified. The Administrative Agent shall not be liable for any indirect, special or consequential damages
(included but not limited to lost profits) whatsoever, even if it has been informed of the likelihood thereof and regardless of
the form of action. Any permissive grant of power to the Administrative Agent hereunder shall not be construed to be a duty to
act. Before acting hereunder, the Administrative Agent shall be entitled to request, receive and rely upon such certificates and
opinions as it may reasonably determine appropriate with respect to the satisfaction of any specified circumstances or conditions
precedent to such action. The Administrative Agent shall not be responsible or liable for delays or failures in performance resulting
from acts beyond its control. Such acts shall include but not be limited to acts of God, strikes, lockouts, riots, acts of war,
epidemics, governmental regulations superimposed after the fact, fire, communication line failures, computer viruses, power failures,
earthquakes or other disasters. The Administrative Agent will provide copies of notices, certificates and reports that it receives
from the Issuer to the Purchasers to the extent they are not required to be delivered to Purchasers by the Issuer or any other
party to this Agreement, and shall have no obligation to review such notices, certificates or reports except as expressly provided
herein. The Administrative Agent shall not be under a duty to examine or independently evaluate, and shall not be charged with
knowledge or notice of, the contents of any financial statements or reports delivered to it pursuant to the provisions of this
Agreement or the Notes Documents, it being acknowledged that such deliveries are for the purpose of making such materials available
to the Purchasers.

 

For purposes of clarity,
phrases such as “satisfactory to the Administrative Agent,” “approved by the Administrative Agent,” “acceptable
to the Administrative Agent,” “as determined by the Administrative Agent,” “in the Administrative Agent’s
discretion,” “selected by the Administrative Agent,” “elected by the Administrative Agent,” “requested
by the Administrative Agent,” and phrases of similar import that authorize and permit the Administrative Agent to approve,
disapprove, determine, act or decline to act in its discretion shall be subject to the Administrative Agent receiving written direction
from the Required Purchasers, as applicable, to take such action or to exercise such rights (it being understood that nothing contained
in this Agreement or any other Notes Document shall impose a duty on the Administrative Agent to make any such determination or
take any action independent of such written direction from the Required Purchasers or exercise any discretionary acts).

 

Each Purchaser agrees
that in any instance in which this Agreement or any other Notes Document provides that the Administrative Agent’s consent
may not be unreasonably withheld, provide for the exercise of the Administrative Agent’s reasonable discretion, or provide
to a similar effect, it shall not in its instructions (or, by refusing to provide instruction) to the Administrative Agent withhold
its consent or exercise its discretion in an unreasonable manner. It is expressly agreed and acknowledged that the Administrative
Agent is not guaranteeing performance of or assuming any liability for the obligations of the Issuers or other parties hereto or
any parties to the Collateral. The Administrative Agent shall not have liability for any failure, inability or unwillingness on
the part of the Issuers to provide accurate and complete information on a timely basis to the Administrative Agent, or otherwise
on the part of any such party to comply with the terms of this Agreement, and shall have no liability for any inaccuracy or error
in the performance or observance on the Administrative Agent’s part of any of its duties hereunder or under the other Notes
Documents that is caused by or results from any such inaccurate, incomplete or untimely information received by it, or other failure
on the part of any such other party to comply with the terms hereof.

 

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

 

The Administrative
Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed
by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise
its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply
to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with activities as the Administrative Agent. The Administrative Agent shall not be responsible for the
negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care.

 

Subject to the appointment
and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time
by notifying the Purchasers and the Issuer Representative. The Administrative Agent may also be removed at the direction of the
Required Purchasers. Upon any such resignation or removal, the Required Purchasers shall have the right, in consultation with
the Issuers, to appoint a successor; provided, however, that no such consultation with the Issuers shall be required while an
Event of Default exists. If no successor shall have been so appointed by the Required Purchasers and shall have accepted such
appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Purchasers, appoint a successor Administrative Agent. Upon the acceptance of its appointment
as Administrative Agent hereunder by its successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder and under the other Notes Documents. The fees payable by the Issuers to a successor Administrative
Agent shall be the same as those payable to its predecessor, unless otherwise agreed by the Issuers and such successor. Notwithstanding
the foregoing, in the event no successor Administrative Agent shall have been so appointed and shall have accepted such appointment
within thirty (30) days after the retiring Administrative Agent gives notice of its intent to resign, the retiring Administrative
Agent may give notice of the effectiveness of its resignation to the Purchasers and the Issuers, whereupon, on the date of effectiveness
of such resignation stated in such notice, (a) the retiring Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Notes Documents, provided that, solely for purposes of maintaining any security interest granted
to the Administrative Agent under any Collateral Document for the benefit of the Secured Parties, the retiring Administrative
Agent shall continue to be vested with such security interest as collateral agent for the benefit of the Secured Parties and,
in the case of any Collateral in the possession of the Administrative Agent, shall continue to hold such Collateral, in each case
until such time as a successor Administrative Agent is appointed and accepts such appointment in accordance with this paragraph
(it being understood and agreed that the retiring Administrative Agent shall have no duly or obligation to take any further action
under any Collateral Document, including any action required to maintain the perfection of any such security interest), and (b)
the Required Purchasers shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring
Administrative Agent, provided that (i) all payments required to be made hereunder or under any other Notes Document to the Administrative
Agent for the account of any Person other than the Administrative Agent shall be made directly to such Person and (ii) all notices
and other communications required or contemplated to be given or made to the Administrative Agent shall also directly be given
or made to each Purchaser. Following the effectiveness of the Administrative Agent’s resignation from its capacity as such,
the provisions of this Article, Section 2.16(d) and Section 10.03, as well as any exculpatory, reimbursement and indemnification
provisions set forth in any other Notes Document, shall continue in effect for the benefit of such retiring Administrative Agent,
its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while
it was acting as Administrative Agent and in respect of the matters referred to in the proviso under clause (a) above.

 

Each Purchaser acknowledges
and agrees that the extensions of credit made hereunder are commercial loans and not investments in a business enterprise or securities.
Each Purchaser further represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of
its business and has, independently and without reliance upon the Administrative Agent or any other Purchaser and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement
as a Purchaser, and to make, acquire or hold Notes hereunder. Each Purchaser shall, independently and without reliance upon the
Administrative Agent or any other Purchaser and based on such documents and information (which may contain material, non-public
information within the meaning of the U.S. securities laws concerning the Issuers and their Affiliates) as it shall from time to
time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
other Notes Document, any related agreement or any document furnished hereunder or thereunder and in deciding whether or to the
extent to which it will continue as a Purchaser or assign or otherwise transfer its rights, interests and obligations hereunder.

 

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Subject to the Administrative
Agent’s rights provided in this Article IX, the Secured Parties hereby irrevocably authorize the Administrative Agent, at
the direction of the Required Purchasers, to credit bid all or any portion of the Obligations (including by accepting some or
all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise)
and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral
(a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the
Bankruptcy Code, or any similar laws in any other jurisdictions to which a Credit Party is subject, or (b) at any other sale,
foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative
Agent (acting at the direction of the Required Purchasers) (whether by judicial action or otherwise) in accordance with any applicable
law. In connection with any such credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be,
and shall be, credit bid by the Administrative Agent at the direction of the Required Purchasers on a ratable basis (with Obligations
with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that
shall vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount
used in allocating the contingent interests) for the asset or assets so purchased (or for the equity interests or debt instruments
of the acquisition vehicle or vehicles that are issued in connection with such purchase). In connection with any such bid (i)
the Administrative Agent shall be authorized to form one or more acquisition vehicles and to assign any successful credit bid
to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’ ratable interests in the Obligations which were
credit bid shall be deemed without any further action under this Agreement to be assigned to such vehicle or vehicles for the
purpose of closing such sale, (iii) the Administrative Agent shall be authorized to adopt documents providing for the governance
of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition
vehicle or vehicles, including any disposition of the assets or equity interests thereof, shall be governed, directly or indirectly,
by, and the governing documents shall provide for, control by the vote of the Required Purchasers or their permitted assignees
under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as the case may
be, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required
Purchasers contained in Section 10.02 of this Agreement), (iv) the Administrative Agent on behalf of such acquisition vehicle
or vehicles shall be authorized to issue to each of the Secured Parties, ratably on account of the relevant Obligations which
were credit bid, interests, whether as equity, partnership, limited partnership interests or membership interests, in any such
acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the need for any Secured Party or
acquisition vehicle to take any further action, and (v) to the extent that Obligations that are assigned to an acquisition vehicle
are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations
assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by the acquisition vehicle or otherwise), such
Obligations shall automatically be reassigned to the Secured Parties pro rata and the equity interests and/or debt instruments
issued by any acquisition vehicle on account of such Obligations shall automatically be cancelled, without the need for any Secured
Party or any acquisition vehicle to take any further action. Notwithstanding that the ratable portion of the Obligations of each
Secured Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Secured Party
shall execute such documents and provide such information regarding the Secured Party (and/or any designee of the Secured Party
which will receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative Agent may reasonably
request in connection with the formation of any acquisition vehicle, the formulation or submission of any credit bid or the consummation
of the transactions contemplated by such credit bid. Each Purchaser hereby agrees that, except as otherwise provided in any Notes
Documents or with the written consent of the Administrative Agent and the Required Purchasers, it will not take any enforcement
action, accelerate obligations under any Notes Documents, or exercise any right that it might otherwise have under any applicable
law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral.

 

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The Purchasers are
not partners or co-venturers, and no Purchaser shall be liable for the acts or omissions of, or (except as otherwise set forth
herein in case of the Administrative Agent) authorized to act for, any other Purchaser. The Administrative Agent shall have the
exclusive right on behalf of the Purchasers to enforce the payment of the principal of and interest on any Notes after the date
such principal or interest has become due and payable pursuant to the terms of this Agreement.

 

In its capacity, the
Administrative Agent is a “representative” of the Secured Parties within the meaning of the term “secured
party” as defined in the UCC. Each Purchaser authorizes the Administrative Agent to enter into each of the Collateral
Documents to which it is a party and to take all action contemplated by such documents. Each Purchaser agrees that no Secured Party
(other than the Administrative Agent) shall have the right individually to seek to realize upon the security granted by any Collateral
Document, it being understood and agreed that such rights and remedies may be exercised solely by the Administrative Agent for
the benefit of the Secured Parties upon the terms of the Collateral Documents. In the event that any Collateral is hereafter pledged
by any Person as collateral security for the Secured Obligations, the Administrative Agent is hereby authorized, and hereby granted
a power of attorney, to execute and deliver on behalf of the Secured Parties any Notes Documents necessary or appropriate to grant
and perfect a Lien on such Collateral in favor of the Administrative Agent on behalf of the Secured Parties. The Purchasers hereby
authorize the Administrative Agent to release any Lien granted to or held by the Administrative Agent upon any Collateral (i) as
described in Section 10.02(c) when directed by the Required Purchasers; (ii) as permitted by, but only in accordance with, the
terms of the applicable Notes Document when directed by the Required Purchasers; or (iii) if approved, authorized or ratified in
writing by the Required Purchasers, unless such release is required to be approved by all of the Purchasers hereunder. Upon request
by the Administrative Agent at any time, the Purchasers will confirm and direct in writing the Administrative Agent to execute
any release of Collateral pursuant hereto.

 

The Administrative
Agent shall have no obligation whatsoever to any of the Purchasers to assure that the Collateral exists or is owned by the Notes
Parties or is cared for, protected, or insured or has been encumbered, or that the Liens granted to the Administrative Agent therein
have been properly or sufficiently or lawfully created, perfected, protected, or enforced or are entitled to any particular priority,
or to exercise at all or in any particular manner or under any duty of care, disclosure, or fidelity, or to continue exercising,
any of the rights, authorities, and powers granted or available to the Administrative Agent pursuant to any of the Notes Documents.

 

Each Purchaser hereby
appoints each other Purchaser as its agent for the purpose of perfecting Liens, for the benefit of the Secured Parties, in assets
which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession. Should any Purchaser
(other than the Administrative Agent) obtain possession of any such Collateral, such Purchaser shall notify the Administrative
Agent thereof, and, promptly upon the Administrative Agent’s request therefor shall deliver such Collateral to the Administrative
Agent or otherwise deal with such Collateral in accordance with the Administrative Agent’s instructions.

 

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The Administrative
Agent hereby disclaims any representation or warranty to the Purchasers concerning and shall have no responsibility to Purchasers
for the existence, priority or perfection of the Liens and security interests granted hereunder or under any Notes Document or
in the value of any of the Collateral and shall not be responsible or liable to the Purchasers for any failure to monitor or maintain
any portion of the Collateral. The Administrative Agent makes no representation as to the value, sufficiency or condition of the
Collateral or any part thereof, as to the title of the Issuer to the Collateral, as to the security afforded by this Agreement
or any other Notes Document. The Administrative Agent shall not be responsible for insuring the Collateral, for the payment of
taxes, charges, assessments or liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Administrative
Agent shall not have any duty to the Purchasers as to any Collateral in its possession or in the possession of someone under its
control or in the possession or control of any agent or nominee of the Administrative Agent or any income thereon or as to the
preservation of rights against prior parties or any other rights pertaining thereto, except the duty to accord such of the Collateral
as may be in its possession substantially the same care as it accords its own assets and the duty to account for monies received
by it. The Administrative Agent shall not be under an obligation independently to request or examine insurance coverage with respect
to any Collateral. The Administrative Agent shall not be liable for the acts or omissions of any bank, depositary bank, custodian,
independent counsel of the Issuers or any other party selected by the Administrative Agent with reasonable care or selected by
any other party hereto that may hold or possess Collateral or documents related to Collateral and the Administrative Agent shall
not be required to monitor the performance of any such Persons holding Collateral. For the avoidance of doubt, the Administrative
Agent shall not be responsible to the Purchasers for the perfection of any Lien or for the filing, form, content or renewal of
any UCC financing statements, fixture filings, mortgages, deeds of trust and such other documents or instruments.

 

In connection with
the exercise of any rights or remedies in respect of, or foreclosure or realization upon, any real estate-related collateral pursuant
to this Agreement or any Notes Document, the Administrative Agent shall not be obligated to take title to or possession of real
estate in its own name, or otherwise in a form or manner that may, in its reasonable judgment, expose it to liability. In the event
that the Administrative Agent deems that it may be considered an “owner or operator” under any environmental laws or
otherwise cause the Administrative Agent to incur, or be exposed to, any environmental liability or any liability under any other
federal, state or local law, the Administrative Agent reserves the right, instead of taking such action, either to resign as Administrative
Agent subject to the terms and conditions herein or to arrange for the transfer of the title or control of the asset to a court
appointed receiver. The Administrative Agent will not be liable to any Person for any environmental liability or any environmental
claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Administrative Agent’s
actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened
discharge or release of any hazardous materials into the environment.

 

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Each Purchaser hereby
agrees as follows: (a) such Purchaser is deemed to have requested that the Administrative Agent furnish such Purchaser, promptly
after it becomes available, a copy of each report (the “Reports”) prepared by or on behalf of the Administrative
Agent; (b) such Purchaser expressly agrees and acknowledges that neither the Administrative Agent nor any Related Party (i) makes
any representation or warranty, express or implied, as to the completeness or accuracy of any Report or any of the information
contained therein, or (ii) shall be liable for any information contained in any Report; (c) such Purchaser expressly agrees and
acknowledges that the Reports are not comprehensive audits or examinations, that the Administrative Agent, any of its Related Parties
or any other party performing any audit or examination will inspect only specific information regarding the Notes Parties and will
rely significantly upon the Notes Parties’ books and records, as well as on representations of the Notes Parties’ personnel
and that the Administrative Agent and its Related Parties undertake no obligation to update, correct or supplement the Reports;
(d) such Purchaser agrees to keep all Reports confidential and strictly for its internal use, not share the Report with any Notes
Party and not to distribute any Report to any other Person except as otherwise permitted pursuant to this Agreement; and (e) without
limiting the generality of any other indemnification provision contained in this Agreement, such Purchaser agrees (i) that neither
the Administrative Agent nor any of its Related Parties shall be liable to such Purchaser or any other Person receiving a copy
of the Report for any inaccuracy or omission contained in or relating to a Report, (ii) to conduct its own due diligence investigation
and make credit decisions with respect to the Notes Parties based on such documents as such Purchaser deems appropriate without
any reliance on the Reports or on the Administrative Agent or any of its Related Parties, (iii) to hold the Administrative Agent
and any such other Person preparing a Report harmless from any action the indemnifying Purchaser may take or conclusion the indemnifying
Purchaser may reach or draw from any Report in connection with any credit extensions that the indemnifying Purchaser has made or
may make to the Notes Parties, or the indemnifying Purchaser’s participation in, or the indemnifying Purchaser’s purchase
of, any Obligations and (iv) to pay and protect, and indemnify, defend, and hold the Administrative Agent and any such other Person
preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including
reasonable attorney fees) incurred by the Administrative Agent and any such other Person preparing a Report as the direct or indirect
result of any third parties who might obtain all or part of any Report through the indemnifying Purchaser.

 

The Purchasers hereby
empower and authorize the Administrative Agent to execute and deliver to the Notes Parties on their behalf the First Lien Intercreditor
Agreement and the Collateral Documents and all related agreements, documents or instruments as shall be necessary or appropriate
to effect the purposes of the First Lien Intercreditor Agreement and the Collateral Documents. Each of the Purchasers (by acceptance
of the benefits of the Notes Documents) hereby acknowledges that it has received a copy of the First Lien Intercreditor Agreement
and the Collateral Documents, agrees that it will be bound by and will take no actions contrary to the provisions of the First
Lien Intercreditor Agreement and the Collateral Documents to the extent then in effect.

 

The Purchasers hereby
empower and authorize the Administrative Agent to execute and deliver to the Notes Parties on their behalf any agreements, documents
or instruments as shall be necessary or appropriate to effect any releases or subordinations of Collateral which shall be permitted
by the terms hereof or of any other Notes Document or which shall otherwise have been approved by the Required Purchasers or all
the Purchasers, as the case may be, in writing.

 

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The Administrative
Agent shall not be under any obligation (i) to monitor, determine or verify the unavailability or cessation of LIBOR (or other
applicable rate), or whether or when there has occurred, or to give notice to any other transaction party of the occurrence of,
any Benchmark Transition Event or Benchmark Replacement Date (ii) to select, determine or designate any Benchmark Replacement,
or other successor or replacement benchmark index, or whether any conditions to the designation of such a rate have been satisfied,
or (iii) to select, determine or designate any Benchmark Replacement Adjustment or other modifier to any replacement or successor
index, or (iv) to determine whether or what Benchmark Replacement Conforming Changes are necessary or advisable, if any, in connection
with any of the foregoing. The Administrative Agent shall not be liable for any inability, failure or delay on its part to perform
any of its duties set forth in this Agreement as a result of the unavailability of LIBOR (or other applicable rate) and absence
of a designated replacement benchmark rate, including as a result of any inability, delay, error or inaccuracy on the part of any
other transaction party, including without limitation the Required Purchasers in providing any direction, instruction, notice or
information required or contemplated by the terms of this Agreement and reasonably required for the performance of such duties.

 

ARTICLE X

Miscellaneous

 

Section 10.01 Notices.

 

(a) Except
in the case of notices and other communications expressly permitted to be given by telephone or Electronic Systems (and subject
in each case to paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile, as follows:

 

(i) if
to the Issuers, to it at 13211 Merriman Rd, Livonia, Michigan 48150-1826, Attention: President (Facsimile No. 248-449-6701);

 

(ii) if
to the Administrative Agent, as follows:

 

U.S. Bank National Association

214 N. Tryon Street, 27th Floor

Charlotte, NC 28202-1078

Attention: CDO Trust Services/James Hanley

Telephone: (312) 576-3714

Email: : james.hanley1@usbank.com; prital.patel@usbank.com;

agency.services@usbank.com

 

With copies to:

 

Nixon Peabody LLP

Exchange Place

53 State Street

Boston, MA 02109-2835

Attention: Catherine Ng

Telecopier: 866.885.0545

Email: cng@nixonpeabody.com

 

and:

 

Morgan, Lewis & Bockius LLP

One State Street, Floor 22

Hartford, CT 06103

Attention: Dan Papermaster

Telecopier: 860.240.2701

Email: daniel.papermaster@morganlewis.com

 

(iii) if
to any other Purchaser, to it at its address (or facsimile number) set forth in its Administrative Questionnaire.

 

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All such notices and other communications
(A) sent by hand or overnight courier service, or mailed by certified or registered mail shall be deemed to have been given when
received, (B) sent by facsimile shall be deemed to have been given when sent, provided that if not given during normal business
hours for the recipient, such notice or communication shall be deemed to have been given at the opening of business on the next
Business Day of the recipient, or (C) delivered through Electronic Systems to the extent provided in paragraph (b) below shall
be effective as provided in such paragraph.

 

(b) Notices
and other communications to the Purchasers hereunder may be delivered or furnished by Electronic Systems pursuant to procedures
approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II or to compliance
certificates delivered pursuant to Section 5.01 unless otherwise agreed by the Administrative Agent and the applicable Purchaser.
Each of the Administrative Agent and the Issuer Representative (on behalf of the Notes Parties) may, in its discretion, agree to
accept notices and other communications to it hereunder by Electronic Systems pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise proscribes,
all such notices and other communications (i) 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 not given during the normal business hours of the recipient,
shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) posted to an
Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address
as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website
address therefor; provided that, for both clauses (i) and (ii) above, if such notice, e-mail 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 of the recipient.

 

(c) Any
party hereto may change its address, facsimile number or e-mail address for notices and other communications hereunder by notice
to the other parties hereto.

 

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Section 10.02 Waivers;
Amendments.

 

(a) No
failure or delay by the Administrative Agent or any Purchaser in exercising any right or power hereunder or under any other Notes
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment
or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Administrative Agent and the Purchasers hereunder and under any other
Notes Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any
provision of any Notes Document or consent to any departure by any Notes therefrom shall in any event be effective unless the same
shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance
and for the purpose for which given. Without limiting the generality of the foregoing, the purchasing of a Note shall not be construed
as a waiver of any Event of Default, regardless of whether the Administrative Agent or any Purchaser may have had notice or knowledge
of such Event of Default at the time.

 

(b)       Except
as set forth in this Section 10.02, neither this Agreement nor any other Notes Document nor any provision hereof or thereof may
be waived, amended or modified except (i) in the case of this Agreement, pursuant to an agreement or agreements in writing entered
into by the Issuers and the Required Purchasers (or by the Administrative Agent on behalf of the Required Purchasers with the
consent of the Required Purchasers) or, (ii) in the case of any other Notes Document, pursuant to an agreement or agreements in
writing entered into by the Administrative Agent (with the consent of the Required Purchasers) and the Notes Party or Notes Parties
that are parties thereto; provided that no such agreement shall (A) reduce or forgive the principal amount of any Note or reduce
the rate of interest thereon, or reduce or forgive any interest, any break funding payments, any Make-Whole Amount as required
by Section 2.10(b), any premium as required by Section 2.10(c) or fees or other amounts payable hereunder, without the written
consent of each Purchaser directly affected thereby, (B) postpone any scheduled date of payment of the principal amount of any
Note (other than any reduction of the amount of, or any extension of the payment date for, the mandatory prepayments required
under Section 2.10, in each case which shall only require the approval of the Required Purchasers) or any date for the payment
of any interest, fees or other Obligations payable hereunder, or otherwise reduce the amount of, waive or excuse any such payment,
without the written consent of each Purchaser directly affected thereby, (C) change Section 2.17(b) or (c) in a manner that would
alter the manner in which payments are shared, without the written consent of each Purchaser other than as permitted hereunder
(provided that it being understood and agreed that any “amend-and-extend” transaction that extends any applicable
maturity or termination date only for those Purchasers that agree to such an extension (which extension may include increased
pricing and fees for such extending Purchasers, and which extension shall not apply to those Purchasers that do not approve such
extension) shall not be deemed to alter the manner in which payments are shared or alter any other pro rata sharing of payments),
(D) change any of the provisions of this Section or the definition of “Required Purchasers”, or any other provision
of any Notes Document specifying the number or percentage of Purchasers required to waive, amend or modify any rights thereunder
or make any determination or grant any consent thereunder, without the written consent of each Purchaser, or the principal amount
of the Notes that the Purchasers are to purchase pursuant to the Commitment Schedule upon the satisfaction of the conditions to
effectiveness that appear in Article IV, (E) release all or substantially all of the Guarantors from their obligation under the
Notes Party Guaranty (except as otherwise permitted herein or in the other Notes Documents), without the written consent of each
Purchaser, (F) except as provided in clause (c) of this Section or in any Collateral Document, release all or substantially all
of the Collateral, or (G) extend, postpone or change the Commitment of any Purchaser, without the written consent of each Purchaser;
provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent
hereunder without the prior written consent of the Administrative Agent. The Administrative Agent may also amend the Commitment
Schedule to reflect assignments and other transactions entered into pursuant to Section 10.04. Notwithstanding the above,
the Administrative Agent may (and each other Secured Party by accepting the benefits of the Collateral hereby authorizes the Administrative
Agent to) enter into the First Lien Intercreditor Agreement and the Collateral Documents (including any additional Collateral
Documents at any time).

 

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(c) The
Purchasers hereby irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Issuers
that it shall (so long as no Event of Default has occurred and is continuing), release any Liens granted to the Administrative
Agent by the Notes Parties on any Collateral (i) upon the Payment in Full (other than payment and satisfaction of Unliquidated
Obligations), (ii) constituting property being sold or disposed of if the Issuers certify to the Administrative Agent that the
sale or disposition is made in compliance with the terms of this Agreement (and the Administrative Agent may rely conclusively
on any such certificate, without further inquiry), (iii) constituting property leased to any Notes Party under a lease which has
expired or been terminated in a transaction permitted under this Agreement, or (iv) as required to effect any sale or other disposition
of such Collateral in connection with any exercise of remedies of the Administrative Agent and the Purchasers pursuant to Article
VII. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly
being released) upon (or obligations of the Notes Parties in respect of) all interests retained by the Notes Parties, including
the proceeds of any sale, all of which shall continue to constitute part of the Collateral and the Administrative Agent shall not
be required to execute any such release on terms which, in the Administrative Agent’s reasonable opinion, would expose the
Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without
recourse or warranty.

 

(d) Notwithstanding
Section 10.02(b), (i) this Agreement and any other Notes Document may be amended with the written consent of the Required Purchasers,
Purchasers providing one or more additional credit facilities, the Administrative Agent and the Issuers (x) to add one or more
additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder
and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Notes Documents
with the Notes and other extensions of credit hereunder and the accrued interest and fees in respect thereof, (y) to reasonably
and appropriately include the Purchasers holding such credit facilities in any determination of the Required Purchasers and (z)
to make such other technical amendments as are reasonably deemed appropriate by the Administrative Agent and the Issuers in connection
with the foregoing, and (ii) any waiver, amendment or modification of any commitment letter or fee letter, if any, may be effected
by an agreement or agreements in writing entered into only by the parties thereto.

 

(e) The
Administrative Agent shall not be bound to follow or agree to any amendment or supplement to this Agreement (including, without
limitation, any Benchmark Replacement Conforming Changes) that would increase or materially change or affect the duties, obligations
or liabilities of the Administrative Agent (including without limitation the imposition or expansion of discretionary authority),
or reduce, eliminate, limit or otherwise change any right, privilege or protection of the Administrative Agent, or would otherwise
materially and adversely affect the Administrative Agent, in each case in its reasonable judgment, without such party’s express
written consent.

 

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(f) Notwithstanding
anything to the contrary in this Section, if the Required Purchasers and the Issuers shall have jointly identified an obvious error
or any error or omission of a technical or immaterial nature, in each case, in any provision of the Notes Documents, then the Administrative
Agent and the Issuers shall be permitted to amend such provision and such amendment shall become effective without any further
action or consent of any other party to any Notes Document.

 

(g) The
Issuers will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional
interest, fee or otherwise, or grant any security or provide other credit support, to any Purchaser as consideration for or as
an inducement to the entering into by such Purchaser of any waiver or amendment of any of the terms and provisions hereof or of
any other Notes Document unless such remuneration is concurrently paid, or security is concurrently granted or other credit support
concurrently provided, on the same terms, ratably to each Purchaser even if such Purchaser did not consent to such waiver or amendment.

 

(h) Any
consent given pursuant to this Section 10.02 or other Notes Document by a Purchaser that has transferred or has agreed to transfer
its Note to (i) any Issuer, (ii) any Subsidiary or any other Affiliate or (iii) any other Person in connection with, or in anticipation
of, such other Person acquiring, making a tender offer for or merging with an Issuer and/or any of its Affiliates, in each case
in connection with such consent, shall be void and of no force or effect except solely as to such Purchaser, and any amendments
effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for
such consent (and the consents of all other Purchasers that were acquired under the same or similar conditions) shall be void and
of no force or effect except solely as to such holder.

 

Section 10.03 Expenses;
Indemnity; Damage Waiver.

 

(a) The
Issuers shall jointly and severally pay (i) all reasonable out of pocket expenses incurred by each of the Administrative Agent
and the Purchasers, including the reasonable fees, and documented disbursements of one counsel for the Administrative Agent and
one counsel for the Purchasers, in connection with the distribution (including, without limitation, via the internet or through
a service such as Intralinks) of the credit facilities provided for herein, the preparation and administration of the Notes Documents
or any amendments, modifications or waivers of the provisions of the Notes Documents (whether or not the transactions contemplated
hereby or thereby shall be consummated, and including without limitation costs and expenses incurred in connection with appraisals
(provided that the Issuers shall be liable for the cost of such appraisals only if such appraisals are required by applicable law
or regulation or required by the Administrative Agent or the Required Purchasers after the occurrence and during the continuance
of an Event of Default), insurance reviews, field examinations (internal and external fees and charges, provided that, if no Event
of Default has occurred and is continuing, the (A) Issuers shall not be liable for the costs and expenses of more than four floor
plan field examinations in any Fiscal Year or more than one such collateral field examination in any Fiscal Year, and (B) Administrative
Agent shall not perform any independent field examinations so long as a copy of each field examination prepared by or for the First
Lien Administrative Agent has been provided to Administrative Agent to satisfy the foregoing requirements), appraisals (provided
that, if no Event of Default has occurred and is continuing, (A) the Issuers shall not be liable for the cost of more than one
equipment appraisal in any Fiscal Year or more than such real property appraisals determined to be legally necessary by the Required
Purchasers, and (B) Administrative Agent shall not perform any independent appraisals so long as a copy of each field appraisal
prepared by or for the First Lien Administrative Agent has been provided to Administrative Agent to satisfy the foregoing requirements),
filing financing statements and continuations, and other actions to perfect, protect, and continue the Administrative Agent’s
Liens; sums paid or incurred to take any action required of any Notes Party under the Notes Documents that such Notes Party fails
to pay or take; and costs and expenses of preserving and protecting the Collateral), and (ii) all reasonable out-of-pocket expenses
incurred by the Administrative Agent or any Purchaser, including the fees, and documented disbursements of any counsel for the
Administrative Agent or any Purchaser, in connection with the enforcement, collection or protection of its rights in connection
with the Notes Documents, including its rights under this Section, or in connection with the Notes purchased issued hereunder,
including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Notes.

 

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(b) The
Issuers, jointly and severally, shall indemnify the Administrative Agent and each Purchaser, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses, claims (whether brought by the Issuers or any other party), damages, penalties, incremental taxes, liabilities
and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted
against any Indemnitee arising out of, in connection with, or as a result of (i) the execution, enforcement or delivery of the
Notes Documents or any agreement or instrument contemplated thereby, the performance by the parties hereto of their respective
obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Note or
the use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property
owned or operated by a Notes Party or a Subsidiary, or any Environmental Liability related in any way to a Notes Party or a Subsidiary,
(iv) the failure of a Notes Party to deliver to the Administrative Agent the required receipts or other required documentary evidence
with respect to a payment made by such Notes Party for Taxes pursuant to Section 2.16, or (v) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether or not such claim, litigation, investigation
or proceeding is brought by any Notes Party or their respective equity holders, Affiliates, creditors or any other third Person
and whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that
such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, penalties, liabilities
or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee. This Section 10.03(b) shall not apply with respect to Taxes other
than any Taxes that represent losses or damages arising from any non-Tax claim.

 

(c) To
the extent that any Notes Party fails to pay any amount required to be paid by it to the Administrative Agent (or any sub-agent
or Related Party thereof) under paragraph (a) or (b) of this Section, each Purchaser severally agrees to pay to the Administrative
Agent (or any Related Party thereof), as the case may be, such Purchaser’s pro rata share (determined as of the time that
the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (it being understood that the Issuers’
failure to pay any such amount shall not relieve the Issuers of any default in the payment thereof); provided that the unreimbursed
expense or indemnified loss, claim, damage, penalty, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent in its capacity as such.

 

(d) To
the extent permitted by applicable law, no Notes Party shall assert, and each Notes Party hereby waives, any claim against any
Indemnitee, (i) for any damages arising from the use by others of information or other materials obtained through telecommunications,
electronic or other information transmission systems (including the Internet), or (ii) 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 Notes Document, or any agreement or instrument contemplated hereby or thereby, the Transactions,
any Note or the use of the proceeds thereof; provided that, nothing in this paragraph (d) shall relieve any Notes Party of any
obligation it may have to indemnify an Indemnitee against special, indirect, consequential or punitive damages asserted against
such Indemnitee by a third party.

 

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

 

Section 10.04 Successors
and Assigns.

 

(a) The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby, except that (i) no Issuer may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Purchaser (and any attempted assignment or transfer by any Issuer without such consent
shall be null and void) and (ii) no Purchaser may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, and, to the extent expressly contemplated hereby, the
Related Parties of each of the Administrative Agent and the Purchasers) any legal or equitable right, remedy or claim under or
by reason of this Agreement.

 

(b) (i)  Subject
to the conditions set forth in paragraph (b)(ii) below, any Purchaser may assign to one or more assignees (other than an Ineligible
Institution) all or a portion of its rights and obligations under this Agreement (including all or a portion of the Notes at the
time owing to it).

 

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

 

(A) [reserved];

 

(B) [reserved];

 

(C) the
parties to each assignment shall execute and deliver to the Administrative Agent (x) an Assignment and Assumption or (y) to the
extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an Electronic System as to
which the Administrative Agent and the parties to the Assignment and Assumption are participants;

 

(D) the
assignee, if it shall not be a Purchaser, shall deliver to the Administrative Agent an Administrative Questionnaire in which the
assignee designates one or more credit contacts to whom all purchaser-level information (which may contain material non-public
information about the Notes Parties and their affiliates, the Notes Parties and their related parties or their respective securities)
will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable
laws, including Federal and state securities laws; and

 

(E) the
assignee may not be a Notes Party or any Affiliate of a Notes Party or a holder of Subordinated Debt.

 

For the purposes of
this Section 10.04(b), the terms “Approved Fund” and “Ineligible Institution” have the following meanings:

 

“Approved
Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank
loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Purchaser,
(b) an Affiliate of a Purchaser or (c) an entity or an Affiliate of an entity that administers or manages a Purchaser.

 

“Ineligible
Institution” means a (a) natural person, (b) company, investment vehicle or trust for, or owned and operated for the
primary benefit of, a natural person or relative(s) thereof; provided that, such company, investment vehicle or trust shall not
constitute an Ineligible Institution if it (i) has not been established for the primary purpose of acquiring any Notes, (ii) is
managed by a professional advisor, who is not such natural person or a relative thereof, having significant experience in the business
of making or purchasing commercial loans, and (iii) has assets greater than $25,000,000 and a significant part of its activities
consist of making or purchasing commercial loans and similar extensions of credit in the ordinary course of its business or (c)
a Notes Party or a Subsidiary or other Affiliate of a Notes Party.

 

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(iii) From
and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to
the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Purchaser under this
Agreement, and the assigning Purchaser thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning
Purchaser’s rights and obligations under this Agreement, such Purchaser shall cease to be a party hereto but shall continue
to be entitled to the benefits of Sections 2.14, 2.16 and 10.03).

 

(iv) [reserved].

 

(v) Upon
its receipt of (x) a duly completed Assignment and Assumption executed by an assigning Purchaser and an assignee or (y) to the
extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an Electronic System as to
which the Administrative Agent and the parties to the Assignment and Assumption are participants, the assignee’s completed
Administrative Questionnaire (unless the assignee shall already be a Purchaser hereunder), the processing and recordation fee referred
to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative
Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if
either the assigning Purchaser or the assignee shall have failed to make any payment required to be made by it pursuant to Section
2.17(c) or 10.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the
information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest
thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided
in this paragraph.

 

(c) [reserved].

 

(d) Any
Purchaser may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Purchaser, including without limitation any pledge or assignment to secure obligations to a Federal Reserve
Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or
assignment of a security interest shall release a Purchaser from any of its obligations hereunder or substitute any such pledgee
or assignee for such Purchaser as a party hereto.

 

Section 10.05 Survival.
All covenants, agreements, representations and warranties made by the Notes Parties in the Notes Documents and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement or any other Notes Document shall be considered
to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Notes Documents and the
purchasing of any Notes, regardless of any investigation made by any such other party or on its behalf and notwithstanding that
the Administrative Agent or any Purchaser may have had notice or knowledge of any Event of Default or incorrect representation
or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Note or any fee or any other amount payable under this Agreement is outstanding and unpaid.
The provisions of Sections 2.14, 2.16 and 10.03 and Article VIII shall survive and remain in full force and effect regardless
of the consummation of the transactions contemplated hereby, the repayment of the Notes or the termination of this Agreement or
any other Notes Document or any provision hereof or thereof.

 

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Section 10.06 Counterparts;
Integration; Effectiveness.

 

(a) This
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Notes Documents
and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among
the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. Except as provided in Article IV, this Agreement shall become effective when it shall have
been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when
taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

 

(b) Delivery
of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf, or any other electronic means that reproduces
an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement.
The words “execution,” “signed,” “signature,” “delivery,” and words of like import
in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby or thereby
shall be deemed to include Electronic Signatures, deliveries 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, physical delivery thereof 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 Uniform Electronic Transactions Act, or any other
similar state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative
Agent to accept Electronic Signatures in any form or format without its prior written consent.

 

Section 10.07 Severability.
Any provision of any Notes Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability
of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

Section 10.08 Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Purchaser and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Purchaser
or Affiliate to or for the credit or the account of any Notes Party against any of and all the Secured Obligations held by such
Purchaser, irrespective of whether or not such Purchaser shall have made any demand under the Notes Documents and although such
obligations may be unmatured. The applicable Purchaser shall notify the Issuers and the Administrative Agent of such set-off or
application; provided that any failure to give or any delay in giving such notice shall not affect the validity of any such set-off
or application under this Section. The rights of each Purchaser under this Section are in addition to other rights and remedies
(including other rights of setoff) which such Purchaser may have.

 

    -102-

     

    

 

Section 10.09 Governing
Law; Jurisdiction; Consent to Service of Process.

 

(a) THIS
AGREEMENT AND THE OTHER NOTES DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW) THEREOF.

 

(b) Each
of the Purchasers and the Administrative Agent hereby irrevocably and unconditionally agrees that, notwithstanding the governing
law provisions of any applicable Notes Document, any claims brought against the Administrative Agent by any Secured Party relating
to this Agreement, any other Notes Document, the Collateral or the consummation or administration of the transactions contemplated
hereby or thereby shall be construed in accordance with and governed by the laws of the State of New York without regard to conflict
of laws principles (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law) thereof.

 

(c) Each
of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction
of any court of the State of New York and of the United States District Court of the State, County and City of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to any Notes Document and the transactions
relating hereto or thereto, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may (and any such claims, cross-claims or
third party claims brought against the Administrative Agent or any of its Related Parties may only) be heard and determined in
such State court or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment
in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement or any other Notes Document shall affect any right that the Administrative
Agent or any Purchaser may otherwise have to bring any action or proceeding relating to this Agreement or any other Notes Document
against the Issuers or their properties in the courts of any jurisdiction.

 

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

 

(e) Each
party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01. Nothing
in this Agreement or any other Notes Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law.

 

    -103-

     

    

 

Section 10.10 WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER NOTES DOCUMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section 10.11 Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

Section 10.12 Confidentiality.

 

(a) Each
of the Administrative Agent and the Purchasers agrees to maintain the confidentiality of the Information (as defined below), except
that Information may be disclosed (a) to its and its Affiliates’ directors, trustees, officers, employees, actual and prospective
investors, and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority, (c) to the extent required by Requirement of Law or by any subpoena or
similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder
or any suit, action or proceeding relating to this Agreement or any other Notes Document or the enforcement of rights hereunder
or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to any actual
or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Notes Party and its obligations,
(g) with the prior consent of the Issuers, (h) to any bona fide or potential assignee or transferee in connection with the contemplated
assignment or transfer by such Purchaser of any Notes, provided such potential assignees or transferees are advised of and agree
to be bound by the provisions of this Section 10.12, or (i) to the extent such Information becomes (i) becomes publicly available
other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Purchaser on a
non-confidential basis from a source other than the Issuers. For the purposes of this Section, “Information”
means all information received from any Issuer or any Person on any Issuer’s behalf with respect to any Notes Party or any
of its or their business, other than any such information that is available to the Administrative Agent or any Purchaser on a non-confidential
basis prior to disclosure by any Issuer or such Person and other than information pertaining to this Agreement routinely provided
by arrangers to data service providers, including league table providers, that serve the lending industry; provided that, in the
case of information received from the Issuers or such Person after the date of this Agreement, such information is clearly identified
at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care
to maintain the confidentiality of such Information as such Person would accord to its own confidential information; provided,
further, that information pertaining to this Agreement routinely provided by arrangers to data service providers, including league
table providers, that serve the lending industry shall be excluded from this definition of “Information”.

 

    -104-

     

    

 

(b) The
Issuers hereby acknowledge that (i) the Administrative Agent will make available to the Purchasers materials and/or information
provided by or on behalf of the Issuers hereunder (collectively, “Issuer Materials”) by posting the Issuer Materials
on an Electronic System, and (ii) certain of the Purchasers may be “public-side” Purchasers (i.e., Purchasers that
do not wish to receive material non-public information with respect to the Issuers or their securities) (each, a “Public
Purchaser”). The Issuers hereby agree that it will use commercially reasonable efforts to identify that portion of the
Issuer Materials that may be distributed to the Public Purchasers and that (A) all such Issuer Materials shall be clearly and conspicuously
marked “PUBLIC” which, at a minimum, means that the word “PUBLIC” shall appear prominently on the first
page thereof, (B) by marking Issuer Materials “PUBLIC,” the Issuers shall be deemed to have authorized the Administrative
Agent and the Purchasers to treat such Issuer Materials as either publicly available information or not material information (although
it may be sensitive and proprietary) with respect to the Issuers or their securities for purposes of United States federal and
state securities laws, (C) all Issuer Materials marked “PUBLIC” are permitted to be made available through a portion
of the Electronic System designated “Public Investor” and (D) the Administrative Agent shall be entitled to treat any
Issuer Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Electronic System
not designated “Public Investor.” Notwithstanding the foregoing, all Notes Documents, all financial statements and
information delivered pursuant to Section 5.01(a) and (b), shall be deemed to be marked “PUBLIC,” unless the Issuers
notify the Administrative Agent promptly that any such document contains material non-public information. It is understood and
agreed that the Issuers will provide Public Purchasers with a compliance certificate (as required by Section 5.01(c)) that are
not populated with the actual ratio calculations and that merely provide a certification of compliance or non-compliance.

 

(c) THE
ELECTRONIC SYSTEM IS PROVIDED “AS IS” AND “AS AVAILABLE”. NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS
RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE ELECTRONIC SYSTEM AND EACH EXPRESSLY
DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE 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 OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR
THE ELECTRONIC SYSTEM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY PURCHASER
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 OUT OF THE ADMINISTRATIVE
AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND
IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT.

 

    -105-

     

    

 

Section 10.13 Several
Obligations; Nonreliance; Violation of Law. The respective obligations of the Purchasers hereunder are several and not joint
and the failure of any Purchaser to make any Note or perform any of its obligations hereunder shall not relieve any other Purchaser
from any of its obligations hereunder. Each Purchaser hereby represents that it is not relying on or looking to any margin stock
for the repayment of the Notes provided for herein. Anything contained in this Agreement to the contrary notwithstanding, no Purchaser
shall be obligated to extend credit to the Issuers in violation of any Requirement of Law.

 

Section 10.14 USA
PATRIOT Act. Each Purchaser that is subject to the requirements of the USA PATRIOT Act hereby notifies each Notes Party that
pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies such
Notes Party, which information includes the name and address of such Notes Party and other information that will allow such Purchaser
to identify such Notes Party in accordance with the USA PATRIOT Act.

 

Section 10.15 Interest
Rate Limitation. 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 Notes 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 Notes 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, Issuers 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 Purchasers and Issuers to conform
strictly to any applicable usury laws. Accordingly, if any Purchaser 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 at such Purchaser’s option be applied to the outstanding amount of the Notes made hereunder or be refunded to
Issuer. In determining whether the interest contracted for, charged, or received by Administrative Agent or a Purchaser 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.

 

    -106-

     

    

 

Section 10.16 [Reserved].

 

Section 10.17 [Reserved].

 

Section 10.18 Appointment
for Perfection. Each Purchaser hereby appoints each other Purchaser as its agent for the purpose of perfecting Liens, for
the benefit of the Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be
perfected only by possession. Should any Purchaser (other than the Administrative Agent) obtain possession of any such Collateral,
such Purchaser shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s request therefor
shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative
Agent’s instructions.

 

Section 10.19 [Reserved].

 

Section 10.20 Marketing
Consent.

 

(a) The
Issuers hereby authorize the Purchasers and their Affiliates, at their respective sole expense, but without any prior approval
by any Issuer, to include the Issuers’ name and logo in advertising slicks posted on its internet site, in pitchbooks or
sent in mailings to prospective customers, to issue news releases and publish “tombstone” advertisements and other
announcements relating to this transaction in newspapers, trade journals and other appropriate media (which may include use of
the logos of one or more of the Notes Parties) (collectively, “Trade Announcements”), and to give such other
publicity to this Agreement as each may from time to time determine in its sole discretion. The foregoing authorization shall remain
in effect unless the Issuer Representative notifies the Purchasers in writing that such authorization is revoked.

 

(b) No
Notes Party shall issue any Trade Announcement, except (i) disclosures required by applicable law, regulation, legal process
or the rules of the Securities and Exchange Commission and then, in any event, such Notes Party will consult with such Purchaser
before issuing such Trade Announcement or (ii) with the prior written consent of the Purchasers.

 

Section 10.21 Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Notes Document or in
any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of
any EEA Financial Institution arising under any Notes Document 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 party hereto that is an EEA Financial Institution; and

 

    -107-

     

    

 

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

 

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

 

(ii) a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent entity, 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 Notes 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.

 

Section 10.22 No
Fiduciary Duty, etc. Each Issuer acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that no
Credit Party will have any obligations except those obligations expressly set forth herein and in the other Notes Documents and
each Credit Party is acting solely in the capacity of an arm’s length contractual counterparty to the Issuers with respect
to the Notes Documents and the transaction contemplated therein and not as a financial advisor or a fiduciary to, or an agent
of, any Issuer or any other person. Each Issuer agrees that it will not assert any claim against any Credit Party based on an
alleged breach of fiduciary duty by such Credit Party in connection with this Agreement and the transactions contemplated hereby.
Additionally, each Issuer acknowledges and agrees that no Credit Party is advising any Issuer as to any legal, tax, investment,
accounting, regulatory or any other matters in any jurisdiction. The Issuers shall consult with their own advisors concerning
such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated
hereby, and the Credit Parties shall have no responsibility or liability to any Issuer with respect thereto.

 

Each Issuer further
acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that each Credit Party, together with its affiliates,
is a full service securities or banking firm engaged in securities trading and brokerage activities as well as providing investment
banking and other financial services. In the ordinary course of business, any Credit Party may provide investment banking and other
financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other
securities and financial instruments (including bank loans and other obligations) of, the Issuers and other companies with which
the Issuers may have commercial or other relationships. With respect to any securities and/or financial instruments so held by
any Credit Party or any of its customers, all rights in respect of such securities and financial instruments, including any voting
rights, will be exercised by the holder of the rights, in its sole discretion.

 

In addition, each Issuer
acknowledges and agrees, and acknowledges its subsidiaries’ understanding, that each Credit Party and its affiliates may
be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect
of which the Issuers may have conflicting interests regarding the transactions described herein and otherwise. No Credit Party
will use confidential information obtained from any Issuer by virtue of the transactions contemplated by the Notes Documents or
its other relationships with the Issuers in connection with the performance by such Credit Party of services for other companies,
and no Credit Party will furnish any such information to other companies. Each Issuer also acknowledges that no Credit Party has
any obligation to use in connection with the transactions contemplated by the Notes Documents, or to furnish to any Issuer, confidential
information obtained from other companies.

 

[Signature Pages Follow]

 

    -108-

     

    

 

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

 

	 	ALTA ENTERPRISES, LLC
	 	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	ALTA HEAVY EQUIPMENT SERVICES, LLC
	 	NITCO, LLC
	 	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	ALTA CONSTRUCTION EQUIPMENT, L.L.C.
	 	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	 	By:  	/s/ Ryan Greenawalt
	 	Name:  	Ryan Greenawalt
	 	Title: 	Manager of each of the above, on behalf of each of the above
	 	 	 
	 	ALTA EQUIPMENT HOLDINGS, INC.
	 	 	 
	 	By: 	/s/ Ryan Greenawalt
	 	Name: 	Ryan Greenawalt
	 	Title:  	President

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	B. RILEY PRINCIPAL MERGER CORP.
	 	 	 
	 	By:  	/s/ Daniel Shribman
	 	Name:   	Daniel Shribman
	 	Title:  	Chief Financial Officer

 

Signature Page to Note Purchase Agreement

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Administrative Agent
	 	 
	 	By:	/s/ Alexandra Rhyne
	 	Name: 	Alexandra Rhyne
	 	Title:	Assistant Vice President

 

Signature Page to Note Purchase Agreement 

 

     

     

    

 

	 	MASSACHUSETTS MUTUAL LIFE INSURANCE
                    COMPANY

	 	By: Barings LLC, as Investment Adviser

	 	 	 
	 	By:	/s/ George Stone
	 	Name:	George Stone
	 	Title:	Managing Director

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	SOF INVESTMENTS II, L.P.
	 	 	 
	 	By:	/s/ Kenneth Gerold
	 	Name:	Kenneth Gerold
	 	Title:	Authorized Signatory

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	CONTINENTAL GENERAL INSURANCE COMPANY
	 	By:	Continental Insurance Group Ltd., 
	 	 	on behalf of Continental General Insurance Company as Manager under the Investment Management Agreement dated January 1, 2017
	 	 	 	 
	 	 	By:	/s/ David Watters
	 	 	Name:	David Watters
	 	 	Title:	Authorized Signatory

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	HAWKEYE CAPITAL MANAGEMENT
	 	 	 
	 	By:	/s/ Richard Rubin
	 	Name:	Richard Rubin 
	 	Title:	Managing Member of Hawkeye Capital Management, LLC the Investment Manager of Hawkeye Capital Master

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	CM FINANCE SPV LTD.
	 	 	 
	 	By:	/s/ Rocco DelGuercio
	 	Name:	Rocco DelGuercio
	 	Title:	Authorized Signatory

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	Monroe Capital Corporation
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director
	 	 	 
	 	MC Income Plus Financing SPV LLC
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director
	 	 	 
	 	Monroe Capital Private Credit Fund III LP
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director 
	 	 	 
	 	Monroe Capital Private Credit Fund III Financing SPV LLC
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director
	 	 	 
	 	Monroe Capital Private Credit Fund III (Unleveraged) LP
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

	 	MC Financing SPV I, LLC
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director
	 	 	 
	 	Monroe Capital Opportunistic Private Credit Master Fund SCSp
	 	 	 
	 	By:	/s/ Kyle Asher 
	 	Name:	Kyle Asher
	 	Title:	Managing Director

 

[Signature Page to
Note Purchase Agreement – Alta]

 

     

     

    

 

SCHEDULES

 

to

 

NOTE PURCHASE AGREEMENT

 

dated as of

 

February 3, 2020

 

among

 

B. RILEY PRINCIPAL MERGER CORP. (to be
renamed ALTA EQUIPMENT GROUP INC.),

ALTA EQUIPMENT HOLDINGS, INC.,

ALTA ENTERPRISES, LLC, 

ALTA CONSTRUCTION EQUIPMENT ILLINOIS,
LLC, 

ALTA HEAVY EQUIPMENT SERVICES, LLC, 

ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC,

ALTA CONSTRUCTION EQUIPMENT, L.L.C.

ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.,

NITCO, LLC, 

and

ALTA CONSTRUCTION EQUIPMENT FLORIDA,
LLC,

as Issuers

 

The Purchasers Party Thereto

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Administrative Agent

 

 

 

Reference is made to the NOTE PURCHASE
AGREEMENT identified above (the “Agreement”). Unless otherwise defined, or the context otherwise clearly requires,
terms defined in the Agreement shall have such meanings when used herein.

 

     

     

    

 

Table of Contents

 

	SCHEDULE 3.05  NOTES PARTIES	1
	 	 
	SCHEDULE 3.06  DISCLOSED MATTERS	2
	 	 
	SCHEDULE 3.17  SUBORDINATED DEBT DOCUMENTS	3
	 	 
	SCHEDULE 3.20  MATERIAL AGREEMENTS	5
	 	 
	SCHEDULE 3.21  CAPITALIZATION AND SUBSIDIARIES	7
	 	 
	SCHEDULE 3.24  FIRST LIEN LOAN DOCUMENTS AND FLOOR PLAN LOAN DOCUMENTS	8
	 	 
	SCHEDULE 3.27  INSURANCE	10
	 	 
	SCHEDULE 3.29 B. RILEY MERGER / EQUITY TRANSACTIONS	11
	 	 
	SCHEDULE 6.01  EXISTING INDEBTEDNESS	14
	 	 
	SCHEDULE 6.02  EXISTING LIENS	17
	 	 
	SCHEDULE 6.04  EXISTING INVESTMENTS	25
	 	 
	SCHEDULE 6.13(e)  HISTORICAL EBITDA, CAPITAL EXPENDITURES AND FIXED CHARGES	26

 

    Schedule-i

     

    

 

SCHEDULE 3.05

NOTES PARTIES

 

Subsidiaries of Alta Group:

 

	Notes Party	Ownership	Subsidiaries
	Alta Group	
        33.9% to 47.04% by Public Stockholders

        20.45% to 16.38% by Initial Stockholders and Affiliates

        11.71% to 14.62% by Non-Affiliate PIPE Investors

        24.87% to 31.04% by Alta Equityholders
	Alta Equipment Holdings, Inc.; Alta Enterprises, LLC
	Alta Equipment Holdings, Inc.	100% owned by Alta Group	Alta Enterprises, LLC
	Alta Enterprises, LLC	
        68.33% owned by Alta Group

        31.67% owned by Alta Equipment Holdings, Inc.
	
        Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment
        Services, LLC;

        Alta Industrial Equipment Michigan, LLC; Alta Construction Equipment,
        L.L.C.;

        Alta Industrial Equipment Company, L.L.C.; NITCO, LLC; and Alta
        Construction Equipment Florida, LLC

	Alta Construction Equipment Illinois, LLC	100% owned by Alta Enterprises, LLC	None.
	Alta Heavy Equipment Services, LLC	100% owned by Alta Enterprises, LLC	None.
	Alta Industrial Equipment Michigan, LLC	100% owned by Alta Enterprises, LLC	None.
	Alta Construction Equipment, L.L.C.	100% owned by Alta Enterprises, LLC	None.
	Alta Industrial Equipment Company, L.L.C.	100% owned by Alta Enterprises, LLC	None.
	NITCO, LLC	100% owned by Alta Enterprises, LLC	None.
	Alta Construction Equipment Florida, LLC	100% owned by Alta Enterprises, LLC	None.

 

    Schedule-1

     

    

 

SCHEDULE 3.06

DISCLOSED MATTERS

 

None.

 

    Schedule-2

     

    

 

SCHEDULE 3.17

SUBORDINATED DEBT DOCUMENTS

 

		1.	Marysa L. Greenawalt Separate Property Trust UAD 7/9/2009, which will be paid off and terminated
on the Effective Date.

		a.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Marysa
L. Greenawalt Separate Property Trust UAD 7/9/2009 by Alta Enterprises, LLC.

		b.	Subordination Agreement dated as of December 27, 2017 by and among Marysa L. Greenawalt Separate
Property Trust UAD 7/9/2009, Alta Enterprises, LLC, the First Lien Administrative Agent, and Goldman Sachs Specialty Lending Group,
L.P., as the Second Lien Notes Representative.

 

		2.	Nathan G. Greenawalt Separate Property Trust UAD 6/17/2009, which will be paid off and terminated
on the Effective Date.

		a.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Nathan
G. Greenawalt Separate Property Trust UAD 6/17/2009 by Alta Enterprises, LLC.

		b.	Subordination Agreement dated as of December 27, 2017 by and among Nathan G. Greenawalt Separate
Property Trust UAD 6/17/2009, Alta Enterprises, LLC, the First Lien Administrative Agent, and Goldman Sachs Specialty Lending Group,
L.P., as the Second Lien Notes Representative.

 

		3.	Darrin J. Greenawalt Separate Property Trust, which will be paid off and terminated on the Effective
Date.

		a.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Darrin
J. Greenawalt Separate Property Trust by Alta Enterprises, LLC.

		b.	Subordination Agreement dated as of December 27, 2017 by and among Darrin J. Greenawalt Separate
Property Trust, Alta Enterprises, LLC, the First Lien Administrative Agent, and Goldman Sachs Specialty Lending Group, L.P., as
the Second Lien Notes Representative

 

		4.	Greenawalt QSST TRUST, which will be paid off and terminated on the Effective Date.

		a.	Subordination Agreement dated as of December 27, 2017 by and among Greenawalt QSST TRUST, Alta
Enterprises, LLC, the First Lien Administrative Agent, and Goldman Sachs Specialty Lending Group, L.P., as the Second Lien Notes
Representative.

		b.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
QSST TRUST FBO Darrin J. Greenawalt by Alta Enterprises, LLC.

		c.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
QSST TRUST FBO Marysa L. Greenawalt by Alta Enterprises, LLC.

		d.	Unsecured Subordinated Non-Negotiable Promissory Note dated as of December 27, 2017 issued to Greenawalt
QSST TRUST FBO Nathan G. Greenawalt by Alta Enterprises, LLC.

 

		5.	Amended and Restated ABL First Lien Intercompany Subordination
Agreement entered into on or prior to the Effective Date by the Notes Parties in favor of the First Lien Administrative Agent.

 

		6.	Intercompany Subordination Agreement dated as of December 27, 2017 by and among Alta Enterprises,
LLC, a Michigan limited liability company, Alta Construction Equipment Illinois, LLC, a Michigan limited liability company, Alta
Heavy Equipment Services, LLC, a Michigan limited liability company, Alta Industrial Equipment Michigan, LLC, a Michigan limited
liability company, Alta Construction Equipment, L.L.C., a Michigan limited liability company, Alta Industrial Equipment Company,
L.L.C., a Michigan limited liability company in favor of Goldman Sachs Specialty Lending Group, L.P, which will be terminated on
the Effective Date.

 

    Schedule-3

     

    

 

		7.	Intercompany Subordination Agreement entered into on or prior to the Effective Date by the Notes
Parties in favor of the Administrative Agent.

 

		8.	Amended and Restated     Floor Plan First Lien Intercompany Subordination Agreement entered into on or prior to the Effective
Date by and between Floor Plan Administrative Agent and the Notes Parties.

 

		9.	Due to the Notes Parties’ shared banking relationship, each Notes Party generates intercompany
due to or due from balances. Intercompany due to and due from balances at 11/30/19 were as follows:

 

	Operating company	12/31/19 

intercompany due to balance	12/31/19 

intercompany due from balance
	Alta Enterprises	$0 	$24,543,687 
	Alta Equipment Company Michigan, LLC	$24,543,687 	$101,085,388 
	Alta Construction Equipment, LLC	$39,411,395 	$112,911 
	Alta Industrial Equipment Company, LLC	$1,203,224 	$7,401 
	Alta Construction Equipment Illinois, LLC	$36,659,714 	$6,445,820 
	Alta Heavy Equipment Services	$4,642,009 	$4,642,009 
	Nitco, LLC.	$30,377,187 	$0 
	Total	$136,837,216 	$136,837,216 

 

    Schedule-4

     

    

 

SCHEDULE 3.20

MATERIAL AGREEMENTS

 

		1.	The following contracts with Volvo Construction Equipment North America, Inc.:

 

		a.	Dealer Agreement dated February 2, 2010, between Volvo Construction Equipment North America, Inc.
and Alta Construction Equipment, L.L.C.;

 

		b.	Dealer Agreement dated January 5, 2018, by and between Volvo Construction Equipment North America,
LLC and Alta Construction Equipment Illinois, LLC (Illinois); and

 

		c.	Dealer Agreement dated January 5, 2018, by and between Volvo Construction Equipment North America,
LLC and Alta Construction Equipment Illinois, LLC (Indiana).

 

		2.	Dealer Agreement dated April 29, 2019 by and between Hyster-Yale Group, Inc. and Alta Enterprises,
LLC, Alta Industrial Equipment Michigan, LLC, Alta Industrial Equipment Company, LLC, and NITCO, LLC.

 

		3.	The following contracts with Takeuchi Manufacturing (U.S.), LTD.:

 

		a.	Dealer Agreement dated March 2, 2018 between Alta Construction Equipment, LLC and Takeuchi Manufacturing
(U.S.), LTD.;

 

		b.	Sales Terms and Condition dated January 1, 2016 between Takeuchi Mfg. (U.S.) Ltd. And Alta Equipment;

 

		c.	Dealer Agreement dated in 2018, by and between Alta Construction Equipment Illinois, LLC and Takeuchi
Mfg. (U.S.) Ltd.; and

 

		d.	Alta Equipment New Territory Proposal (Illinois) dated June 1, 2018, by Takeuchi Mfg. (U.S.) Ltd.

 

		4.	The following Contracts with JCB, Inc.:

 

		a.	JCB Access Agreement (CT) dated October 2, 2017 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.);

		b.	Construction Agreement dated April 20, 2016 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.);

		c.	JCB Access Agreement (MA) dated October 2, 2017 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.);

		d.	Construction Agreement dated in 2013 between JCB, Inc. and NITCO (as successor to Northland Industrial
Trucking Co. Inc.);

		e.	JCB Access Agreement (ME) dated October 2, 2017 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.);

		f.	JCB Access Agreement (NH) dated October 2, 2017 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.); and

		g.	JCB Access Agreement (RI) dated October 2, 2017 between JCB, Inc. and NITCO (as successor to Northland
Industrial Trucking Co. Inc.)

 

    Schedule-5

     

    

 

		5.	The following material dealer agreements were, are or will be assigned from Flagler Construction
Equipment, LLC or FlaglerCE Holdings, LLC to Alta Construction Equipment Florida, LLC upon the consummation of the Flagler Acquisition,
or new agreements will be entered into by Alta Construction Equipment Florida, LLC on or after the consummation of the Flagler
Acquisition:

 

		a.	The following Contracts with Cummins Inc.:

		i.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 8750 Philips
Highway, Jacksonville, FL 32256, dated December 6, 2017;

		ii.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 5151 Martin
Luther King Jr. Boulevard, Fort Meyers, FL 33905, dated December 6, 2017;

		iii.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 9601 Boggy
Creek Road, Orlando, FL 32824, dated December 6, 2017;

		iv.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 8418 Palm River
Road, Tampa, FL 33619, dated December 6, 2017; and

		v.	Dealership Agreement, between Cummins Inc. and Flagler Construction Equipment, LLC, 5210 Reese
Road, Davie, FL 33314, dated December 6, 2017.

 

		b.	Dealer Agreement between Kolberg-Pioneer, Inc., Johnson Crushers International, Inc., Astec Mobile
Screens, Inc., and Flagler Construction Equipment, 8418 Palm River Road, Tampa, FL 33619, dated December 20, 2018 and Addendum.

 

		c.	Dealer Sales and Service Agreement between Volvo Construction Equipment North America, Inc. and
Flagler Construction Equipment, LLC, 8418 Palm River Road, Tampa, FL 33619, dated August 22, 2019

 

		d.	The following Contracts with Takeuchi Mfg. (US), Ltd.:

 

		i.	Warranty Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and Flagler Construction
Equipment, LLC, dated January 16, 2017, effective January 1, 2017;

		ii.	Warranty Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and FlaglerCE Holdings,
LLC, dated January 28, 2019;

		iii.	Sales Terms and Conditions, between Takeuchi Manufacturing (U.S.), Ltd. and Flagler Construction
Equipment, LLC, dated January 16, 2017, effective January 1, 2017;

		iv.	Dealer Agreement, between Takeuchi Manufacturing (U.S.) Ltd and Flagler Construction Equipment,
LLC, dated February 17, 2017; and

		v.	Individual Guaranty, between Takeuchi Manufacturing (U.S.) Ltd. (as Secured Party) and Thomas Holmes
(as Guarantor).

 

		6.	The following dealer agreements were, are or will be assigned from Liftech Equipment Companies,
Inc. to NITCO, LLC upon the consummation of the Liftech Acquisition, or new agreements will be entered into by NITCO, LLC on or
after the consummation of the Liftech Acquisition:

 

		a.	Sales & Service Distributor Agreement by and between Doosan Infracore Portable Power and Liftech
Equipment Companies, Inc. dated as of April 1, 2019.

		b.	Dealer Agreement by and between Hyster-Yale Group, Inc. and Liftech Equipment Companies, Inc.
                                                                dated as of April 1, 2016.

		c.	Authorized North American Distributor Agreement by and between Trackmobile LLC and Liftech Equipment
Companies, Inc. dated as of April 16, 2018.

		d.	Dealership Agreement (Massachusetts) by and between JCB Inc. and Liftech Equipment Companies, Inc.
dated as of October 30, 2017.

		e.	Dealership Agreement (New York) by and between JCB Inc. and Liftech Equipment Companies, Inc. dated
as of October 30, 2017.

		f.	Dealership Agreement (Vermont) by and between JCB Inc. and Liftech Equipment Companies, Inc. dated
as of October 30, 2017.

		g.	Dealer Agreement by and between Mariotti USA Inc. and Liftech Equipment Companies, Inc. dated as
of April 19, 2016.

		h.	Distributor Sales and Service Agreement dated June 6, 2005 by and between Liftech Equipment Companies,
Inc. and JLG Industries, Inc.

		i.	Authorized North American Distributor Agreement by and
between Zephir SPA and Liftech Equipment Companies, Inc. dated as of December 15, 2017.

 

    Schedule-6

     

    

 

SCHEDULE 3.21

CAPITALIZATION AND SUBSIDIARIES

 

Subsidiaries of Alta Group:

 

	Subsidiary	Ownership	Type of Entity
	Alta Equipment Holdings, Inc.	100% owned by Alta Group	C Corporation
	Alta Enterprises, LLC	
        68.33% owned by Alta Group

        31.67% owned by Alta Equipment Holdings, Inc.
	Limited Liability Company
	Alta Construction Equipment Illinois, LLC	100% owned by Alta Enterprises, LLC	Limited Liability Company
	Alta Heavy Equipment Services, LLC	100% owned by Alta Enterprises, LLC	Limited Liability Company
	Alta Industrial Equipment Michigan, LLC	100% owned by Alta Enterprises, LLC	Limited Liability Company
	Alta Construction Equipment, L.L.C.	100% owned by Alta Enterprises, LLC	Limited Liability Company
	Alta Industrial Equipment Company, L.L.C.	100% owned by Alta Enterprises, LLC	Limited Liability Company
	NITCO, LLC	100% owned by Alta Enterprises, LLC	Limited Liability Company
	Alta Construction Equipment Florida, LLC	100% owned by Alta Enterprises, LLC	Limited Liability Company

 

Equity Interest of Alta Group:

 

	Notes Party	Equity Interest	Type of Entity
	Alta Group	
        33.9% to 47.04% by Public Stockholders

        20.45% to 16.38% by Initial Stockholders and Affiliates

        11.71% to 14.62% by Non-Affiliate PIPE Investors

        24.87% to 31.04% by Alta Equityholders
	C Corporation

 

    Schedule-7

     

    

 

SCHEDULE 3.24

FIRST LIEN LOAN DOCUMENTS AND FLOOR PLAN LOAN DOCUMENTS

 

		1.	Fifth Amended and Restated ABL First Lien Credit Agreement

		2.	Third Amended and Restated ABL First Lien Pledge and Security Agreement

		3.	ABL First Lien UCC-1 Financing Statements

		4.	Amended and Restated ABL First Lien Patent and Trademark Security Agreement

		5.	Amended and Restated ABL First Lien Collateral Assignment of Business Interruption Insurance

		6.	ABL First Lien Collateral Assignment of Representation and Warranty Insurance

		7.	ABL First Lien Assignment of Purchase Documents (Flagler)

		8.	ABL First Lien Assignment of Purchase Documents (Liftech)

		9.	Amended and Restated ABL First Lien Guaranty

		10.	Amended and Restated ABL First Lien Intercompany Subordination Agreement

		11.	ABL First Lien Opening Borrowing Base Certificate

		12.	ABL First Lien Initial Borrowing Request/Disbursement Authorizations/Funds Flow

		13.	ABL First Lien Borrowing Request form

		14.	ABL First Lien Solvency, Acquisition, and Opening Compliance Certificate

		15.	ABL First Lien Designated Authority Form

		16.	Floor Plan First Lien Credit Agreement

		17.	Floor Plan First Lien Pledge and Security Agreement

		18.	Floor Plan First Lien UCC-1 Financing Statements

		19.	Floor Plan First Lien Patent and Trademark Security Agreement

		20.	Floor Plan First Lien Collateral Assignment of Business Interruption Insurance

		21.	Floor Plan First Lien Collateral Assignment of Representation and Warranty Insurance

		22.	Floor Plan First Lien Assignment of Purchase Documents (Flagler)

		23.	Floor Plan First Lien Assignment of Purchase Documents (Liftech)

		24.	Floor Plan First Lien Guaranty

		25.	Floor Plan First Lien Intercompany Subordination Agreement

		26.	Floor Plan First Lien Opening Borrowing Base Certificate

		27.	Floor Plan First Lien Initial Borrowing Request/Disbursement Authorizations/Funds Flow

		28.	Floor Plan First Lien Borrowing Request form

		29.	Floor Plan First Lien Solvency, Acquisition, and Opening Compliance Certificate

		30.	Floor Plan First Lien Designated Authority Form

		31.	ABL/Floor Plan Intercreditor Agreement

		32.	First Lien/Second Lien Intercreditor Agreement

		33.	Vendor Floor Plan Financing Intercreditor Agreements

		(a)	HYG Financial Services, Inc.

		(b)	VFS US LLC

		(c)	Terex Financial Services, Inc.

		(d)	De Lage Landen Financial Services, Inc.

		(e)	Wells Fargo Commercial Distribution Finance, LLC

		(f)	PNC Equipment Finance LLC

		(g)	Takeuchi Mfg Ltd.

		34.	Deposit Account Control Agreement

		35.	Collateral Access Agreements

		36.	Bailee Waivers

		37.	Insurance Certificates and Endorsements

		38.	Opinion of counsel for the Borrowers

 

    Schedule-8

     

    

 

		39.	Secretary’s Certificates with certified charter documents, operating agreement, good standing certificate, and resolutions
attached for each Borrower

		(a)	Alta Equipment Group, Inc.

		(b)	Alta Equipment Holdings, Inc.

		(c)	Alta Enterprises, LLC

		(d)	Alta Construction Equipment Illinois, LLC

		(e)	Alta Heavy Equipment Services, LLC

		(f)	Alta Industrial Equipment Michigan, LLC

		(g)	Alta Construction Equipment, L.L.C.

		(h)	Alta Industrial Equipment Company, L.L.C.

		(i)	NITCO, LLC

		(j)	Alta Construction Equipment Florida, LLC

		40.	Beneficial Ownership Certificate

 

    Schedule-9

     

    

 

SCHEDULE 3.27

INSURANCE

See attached.

 

    Schedule-10

     

    

 

SCHEDULE 3.29

 

B. RILEY MERGER / EQUITY TRANSACTIONS

 

B. Riley Merger/Equity Transactions

 

On December 12, 2019,
B. Riley Principal Merger Corp., a Delaware corporation (“BRPM”), and BRPM’s wholly-owned subsidiary BR
Canyon Merger Sub Corp., a Michigan corporation (“Merger Sub”), Alta Holdings and Ryan Greenawalt (“Greenawalt”)
entered into that certain Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Merger Sub
will merge with and into Alta Holdings, the separate corporate existence of Merger Sub will thereupon cease, and Alta Holdings
will become a wholly-owned subsidiary of BRPM (collectively, the “Acquisition”). Upon the closing of the Acquisition
and on the Effective Date BRPM will change its name to “Alta Equipment Group Inc.”

 

Upon consummation of
the Merger, the holder of each share of common stock of Alta Holdings will receive, in respect of such share, such holder’s
pro rata the portion of (a) 7,300,000 shares of common stock of BRPM (with an assumed value of $10.00 / share), and (b) $10,050,000
in cash.

 

Subject to the terms
and conditions set forth in the Merger Agreement and the other B. Riley Merger/Equity Transaction Agreements, on the Effective
Date BRPM will pay off the existing Indebtedness of Alta Holdings and its Subsidiaries, which is anticipated to be approximately
$295 million, and Alta Holdings’s equityholders, which include Greenawalt (the “Sellers”), will receive
aggregate consideration with a value equal to $119 million, which will consist of: (a) $43 million in cash, and (b) $76 million
of shares of BRPM’s common stock, or 7,600,000 shares valued at $10.00 per share. Sponsor will forfeit 1,470,855 shares of
Class B common stock (the “Founder Shares”) to BRPM for cancellation upon the Effective Date.

 

BRPM will obtain the
debt financing (as described below), (a) BRPM will have an aggregate of at least $143 million of cash available from the trust
account (the “trust account”) established in connection with BRPM’s initial public offering (the “IPO”)
and from equity financing sources, and (b) Alta Group’s Consolidated EBITDA less any noncash gains or losses on the sale
of fixed or capital assets offset for gains from the sale of fixed or capital assets calculated (i) at the price at which the applicable
Notes Party sold the applicable asset, minus (ii) such Note Party’s initial purchase price of such asset (for the avoidance
of doubt, without reducing this clause (ii) for any depreciation or amortization thereof) will be at least $79 million as measured
for the Fiscal Year ended December 31, 2019.

 

Pursuant to a forward
purchase agreement, immediately prior to the Effective Date, Sponsor or its Affiliate will purchase $25,000,000 of BRPM’s
units at a price of $10.00 per unit, or an aggregate of 2,500,000 units, each comprised of one share of Class A common stock (the
“forward purchase shares”) and one-half of one warrant (the “forward purchase warrants”).
The forward purchases will be made regardless of whether any shares of Class A common stock are redeemed in connection with Transactions
(collectively, the “Equity Financing”).

 

In addition to the
Equity Financing, BRPM has entered into subscription agreements with institutional and accredited investors (the “PIPE
investors”), which include Affiliates of Sponsor, on December 12, 2019, pursuant to which such investors will purchase,
immediately prior to the Effective Date, an aggregate of $35,000,000 of BRPM’s shares of Class A common stock at a price
of $10.00 per share, or an aggregate of 3,500,000 shares of Class A common stock (the “PIPE Financing”), subject
to certain conditions, including the approval of the transactions contemplated herein. As an inducement to enter into the subscription
agreements, the PIPE investors that are not affiliated with Sponsor will receive an aggregate of 142,895 additional shares of BRPM’s
Class A common stock and an aggregate of 1,018,125 of BRPM’s warrants, and, upon the Effective Date, the Sponsor will forfeit
an equal number of Founder Shares to BRPM for cancellation and Sponsor or its Affiliates will transfer an equal number of forward
purchase warrants to BRPM.

 

    Schedule-11

     

    

 

On the Effective Date,
BRPM will acquire the Warrant to purchase membership interest in Alta Enterprises from Goldman Sachs Lending Group L.P. for $29,620,110.

 

On the Effective Date,
BRPM will contribute the remaining IPO proceeds (which the amount of such proceeds will be known after the redemption period closes)
to Alta Enterprises in exchange for limited liability company interests of Alta Enterprises.

 

On the Effective Date,
BRPM will transfer cash in the aggregate amount of $2,950,000 to certain key employees of the Issuers in connection with the Acquisition
and termination of the Alta Enterprises’s Equity Linked Incentive Plan.

 

 On the Effective
Date, BRPM will obtain credit facilities equal to an aggregate of $310 million (the “Debt Financing”) for the
purpose of financing the repayment of existing Indebtedness of Alta Holdings and its Subsidiaries, a portion of the consideration
payable under the Merger Agreement, costs and expenses incurred by the parties in connection with the Transactions and general
corporate expenditures. Such credit facilities will be comprised of a term loan facility from the Purchasers in an aggregate principal
amount of either $155 million or $165 million and an asset-based loan revolving credit facility from the First Lien Lenders in
an aggregate principal amount of up to $300 million, of which no more than $148 million will be drawn on the Effective Date.

 

Concurrently with and
contingent upon the Effective Date, NITCO will consummate the Liftech Acquisition and Alta Construction Equipment Florida will
consummate the Flagler Acquisition. Each of the Liftech Acquisition and Flagler Acquisition are currently under non-binding letters
of intent, for an aggregate purchase price of $95 million, to be funded by the equity and Indebtedness proceeds raised in connection
with the Transactions.

 

The Transactions will
be financed and consummated in a manner consistent with the sources and uses set forth below (the “Sources and Uses”).

 

	Sources and Uses ($ in millions)
	Sources	No Redemption	Max Redemption
	Proceeds from Trust Account	$	145	$	84
	Forward Purchase	 	25	 	25
	Seller Rollover Equity	 	76	 	76
	PIPE	 	35	 	35
	Draw on New Term Loan	 	155	 	165
	Draw on New ABL	 	140	 	148
	Total Sources	$	576	$	533
	 	 	 	 	 
	Uses	No Redemption	Max Redemption
	Payoff Existing Alta Holdings and Subsidiaries’ Indebtedness	$	295	$	295
	Cash Proceeds to Seller	 	43	 	43
	Seller Rollover Equity	 	76	 	76
	Additional Acquisitions	 	95	 	95
	Estimated Fees and Expenses	 	20	 	20
	Excess Cash	 	62	 	—
	Total Uses	$	591	$	529

 

    Schedule-12

     

    

 

B. Riley Merger/Equity Transaction Agreements: 

 

		1.	Merger Agreement

		2.	Ancillary agreements entered into in connection with the Merger Agreement, including the following
to be filed or entered into at closing of the Merger Agreement:

		a.	Third Amended and Restated Certificate of Incorporation
of BRPM

		b.	Certificate of Merger to be filed with the Delaware Secretary of State

		c.	Letter of Transmittal from the Greenawalt Trust

		d.	Company Bringdown Certificate from Alta Holdings

		e.	Minimum EBITDA and Maximum Indebtedness Certificate from Alta Holdings

		f.	FIRPTA Certificate from Alta Holdings

		g.	Participant Release Agreements between Alta Holdings and each key employee receiving a cash payment
in connection with the transactions contemplated by the Merger Agreement and the termination of Alta Enterprises’s Equity
Linked Incentive Plan

		h.	Registration Rights Agreements between Alta Holdings and the Greenawalt Trust

		i.	Parent Bringdown Certificate from BRPM

		j.	Warrant Purchase Agreement between Alta Enterprises and Goldman Sachs & Co. LLC

		k.	Subscription Agreements between BRPM and certain investors

		l.	Forward Purchase Agreement between BRPM and certain of its affiliates.

 

    Schedule-13

     

    

 

SCHEDULE 6.01

EXISTING INDEBTEDNESS

 

	Lender	Credit Limit	Description of the Indebtedness/ 

Underlying Debt Documents  
	
        HYG Financial Services, Inc.

         

         
	
        Current: $40 Million

        Limit: $44 Million
	
        Floor Flan Financing Facility

         

        Dealer Financing and Security Agreement dated December 22, 2017
        by and among HYG Financial Services, Inc., Alta Industrial Equipment Michigan, LLC, and Alta Industrial Equipment Company, L.L.C.

         

	
        Volvo Commercial Finance LLC The Americas

         

         

         

         

         

         

         

         

         

         

         

         

        VFS US LLC

         

        
	
        Current: $82.5 Million

        Limit: $86.6 Million
	
        Floor Flan Financing Facility

         

        -      Floor Plan Financing and
        Security Agreement dated December 20, 2017 by and between Volvo Financial Services, a Division of VFS US LLC and Alta Construction
        Equipment Illinois, LLC

        -      Floor Plan Financing and
        Security Agreement dated December 15, 2009 by and between Alta Construction Equipment, LLC and Volvo Financial Services, a Division
        of VFS US LLC, as amended on December 20, 2017.

         

        Equipment Lease, financed inventory

         

	
        Terex Financial Services, Inc.

         

         
	
        Current: $1 Million

        Limit: $1.5 Million
	
        Floor Flan Financing Facility

         

        Master Note and Security Agreement dated May 9, 2014 by and
        between Terex Financial Services, Inc. and Alta Construction Equipment, L.L.C.

         

        Master Note and Security Agreement dated August 10, 2018 by
        and between Terex Financial Services, Inc. and Alta Construction Equipment Illinois, LLC

         

	
        De Lage Landen Financial Services, Inc.

         
	
        Current: $10 Million

        Limit: $11 Million
	
        Floor Flan Financing Facility

         

        Agreement for Inventory Financing dated December 7,
2017 by and between Alta Construction Equipment, L.L.C., Alta Construction Equipment Illinois, LLC, and De Lage Landen Financial
Services, Inc.

 

    Schedule-14

     

    

 

	Lender	Credit Limit	Description of the Indebtedness/ 

Underlying Debt Documents  
	
        Wells Fargo Commercial Distribution Finance, LLC

         
	N/A after liquidation to PNC	
        Floor Flan Financing Facility for JCB equipment (Liquidating
        to PNC Equipment Finance, LLC)

         

	
        PNC Equipment Finance, LLC

         
	
        Current: $19.5 Million

        Limit: $20.5 Million
	
        Floor Flan Financing Facility for JCB equipment

         

	
        Link-Belt Construction Equipment Company, L.P.

         

         
	Current: $4 Million	
        Extended payable terms from vendor for purchase of parts and
        equipment

         

        Equipment Financing, consigned goods

         

	MB Equipment Finance, LLC, MB Financial Bank, N.A., and all assignors and successors of the foregoing	Current: Collectively, $2,500,000 	Equipment on operating lease under a Master Lease Agreement
	Landoll Corporation	Current: $1,000,000	Extended payable terms from vendor for purchase of parts and equipment
	Exxon Mobile	Current: $100,000	Extended payable terms from vendor for purchase of fuels
	JLG Industries, Inc.	Current: $200,000	Extended payable terms from vendor for purchase of parts and equipment
	Takeuchi Mfg. (U.S.), Ltd.	Current: $10 Million	Extended payable terms from vendor for purchase of parts and equipment
	Manitou America, Inc.	Current: $700,000	Extended payable terms from vendor for purchase of parts and equipment
	
        Terex Financial Services, Inc.

         
	Current: $5 Million	Equipment Lease
	
        LaSalle Systems Leasing, Inc.

        MB Financial Bank, N.A

        First Bank of Highland Park

         
	Current: $1 Million 	Equipment Lease
	
        HYG Financial Services, Inc.

         
	Current: $6 Million	Equipment Lease
	
        Hyster-Yale Group, Inc.

         
	Current: $1 Million	Financed Inventory
	
        Volvo Construction Equipment North America, LLC

         
	Current: $1 Million	Financed Inventory
	
        JCB, Inc.
	Current: $0.5 Million	Financed Inventory 

 

    Schedule-15

     

    

 

	Lender	Credit Limit	Description of the Indebtedness/ 

Underlying Debt Documents  
	Goldman Sachs Specialty Lending Group, L.P.	Current: $71.22 Million	
        Note Purchase Agreement, dated December 27, 2017, by and among
        Alta Enterprises, LLC, Alta Construction Equipment Illinois, LLC, Alta Heavy Equipment Services, LLC, Alta Industrial Equipment
        Michigan, LLC, Alta Construction Equipment, L.L.C.,  Alta Industrial Equipment Company, L.L.C., the Purchasers (as defined
        in the Note Purchase Agreement) party thereto, and Goldman Sachs Specialty Lending Group, L.P., as amended by that certain Joinder
        and Third Amendment to Note Purchase Agreement, dated May 1, 2019, adding NITCO, LLC as an Issuer, and as amended by that certain
        Joinder to Note Purchase Agreement, to be entered into on or prior to the Effective Date, adding Alta Construction Equipment Florida,
        LLC as an Issuer.

         

        To be terminated on the Effective Date.

         

	C&B Manufacturing Inc. dba Hitchdoc	Credit Limit: $10,000	Extended payable terms from vendor for purchase of parts and equipment

                                                                                 

	Fair Manufacturing Inc.	Credit Limit: $10,000	Extended payable terms from vendor for purchase of parts and equipment

 

    Schedule-16

     

    

 

SCHEDULE 6.02

EXISTING LIENS

 

	Debtor	Secured Party(ies)	Jurisdiction	Filing Date and File Number
	ALTA ENTERPRISES, LLC	Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:    12/27/2017

        Filing No.: #20171227000660-2

	Fair Manufacturing Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  10/3/2019

        Filing No.: #20191003000509-2

	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC	Takeuchi MFG. (U.S.), LTD	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  11/23/2011

        Filing No.: #2011165057-2

	De Lage Landen Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/19/2011

        Filing No.: #2011176993-9

	VFS US LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 10/11/2017

        Filing No: #20171011000862-9

	Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/27/2017

        Filing No.: #20171227000658-7

	MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  06/29/2018

        Filing No.: #20180629000875-8

	Terex Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 7/30/2018

        Filing No.: #20180730001010-1

	VOLVO CONSTRUCTION EQUIPMENT NORTH AMERICA, LLC, AND ALL ITS SUBSIDIARIES	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 9/27/2018

        Filing No.: #20180927000747-5

	ALTA
    HEAVY EQUIPMENT SERVICES, LLC Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/27/2017

        Filing No.: #20171227000662-0

 

    Schedule-17

     

    

 

	
        ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC

           

           

           
	LASALLE SOLUTIONS, A DIVISION OF MB EQUIPMENT FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 11/15/2016

        Filing No.: #20161115000241-8

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/20/2017

        Filing No.: #20171220000470-8

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/21/2017

        Filing No.: #20171221000356-8

	Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/27/2017

        Filing No.: #20171227000667-5

	Hyster-Yale Group, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 01/12/2018

        Filing No.: #20180112000654-2

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 03/13/2018

        Filing No.: #20180313000064-2

	MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 06/29/2018

        Filing No.: #20180629000875-8

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/29/2018

        Filing No.: #20181229000018-2

	Wells Fargo Commercial Distribution Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/16/2019

        Filing No.: #20190416000961-1

	ALTA CONSTRUCTION EQUIPMENT, L.L.C.	Terex Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  10/12/2009

        Filing No. #2009145134-7

	VFS US LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/15/2009

        Filing No.: #2009175268-6

 

    Schedule-18

     

    

 

	 	Link-Belt Construction Equipment Company, L.P., LLLP	MI	
        Initial Filing: UCC-1 Financing Statement 

        Filing Date:  10/06/2010

        Filing No.: #2010133701-9

	Link-Belt Construction Equipment Company, L.P., LLP	MI	
        Initial Filing: UCC-1 Financing Statement  

        Filing Date:  10/06/2010

        Filing No.: #2010133713-4

	TAKEUCHI MFG. (U.S.), LTD	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 11/23/2011

        Filing No.: #2011165057-2

	De Lage Landen Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/19/2011

        Filing No.: #2011176993-9

	VFS US LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/27/2012

        Filing No.: #2012179033-0

	VFS US LLC; ET AL	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  08/27/2013

        Filing No.: #2013134405-6

	JLG INDUSTRIES, INC. for itself and as a representative of certain of its affiliates	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  02/28/2014

        Filing No.: #2014029498-7

	Terex Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  05/13/2014

        Filing No.: #2014068495-8

	Volvo Construction Equipment North America, LLC, and all its subsidiaries	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/17/2015

        Filing No.: #2015174384-4

	C&B Manufacturing Inc., dba Hitchdoc	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  05/16/2016

        Filing No.: #2016068080-3

	MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  10/17/2017

        Filing No.:#20171017000719-2

	Goldman Sachs Specialty Lending Group, L.P., as Notes Representative**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/27/2017

        Filing No.:#20171227000659-6

 

    Schedule-19

     

    

 

	 	MB Equipment Finance, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  06/29/2018

        Filing No.:#2018629000875-8

	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.

HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/20/2017

        Filing No.: #20171220000455-9

	HYG Financial Services, Inc.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  12/21/2017

        Filing No.: #20171221000357-7

	GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P., AS NOTES REPRESENTATIVE**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/27/2017 Filing No.: #20171227000665-7

           

	HYSTER-YALE GROUP, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:

        01/12/2018

        Filing No.: #20180112000650-6

	MB EQUIPMENT FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  06/29/2018

        Filing No.: #20180629000875-8

	WELLS FARGO COMMERCIAL DISTRIBUTION FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date:  04/16/2019

        Filing No.: #20190416000971-8

	
        NITCO, LLC

           

           

           
	WELLS FARGO COMMERCIAL DISTRIBUTION FINANCE, LLC	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 03/28/2019 Filing Number: #20190328000781-3

           

	HYG FINANCIAL SERVICES, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 03/28/2019 Filing No.: #20190328000785-9

 

    Schedule-20

     

    

 

	 	JCB, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/25/2019

        Filing No.: #20190425000585-3

	GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P., AS NOTES REPRESENTATIVE**	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 05/01/2019

        Filing No.: #20190501000548-1

	LANDOLL CORPORATION	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 05/20/2019

        Filing No.: #20190520000053-3

	JLG INDUSTRIES, INC. FOR ITSELF AND AS A REPRESENTATIVE OF CERTAIN OF ITS AFFILIATES	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 05/31/2019

        Filing No.: #20190531000764-8

	HYSTER-YALE GROUP, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 06/14/2019

        Filing No.: #20190614000507-7

	HYG FINANCIAL SERVICES, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 07/11/2019

        Filing No.: #20190711000355-8

	HYG FINANCIAL SERVICES, INC.	MI	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 08/20/2019

        Filing No.: #20190820000465-1

	ALTA CONSTRUCTION EQUIPMENT
    FLORIDA, LLC (including liens filed on Flagler assets)	Axis Capital, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 03/10/2016

        Filing No.: #20161458676

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

			
        

	Amur Equipment Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 02/23/2017

        Filing No.: #20171232328

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

    Schedule-21

     

    

 

	 	Everbank Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 01/16/2018

        Filing No.: #20180352332

	PNC Equipment Finance, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/10/2019

        Filing No.: #20192485477

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	VFS US LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 04/13/2004

        Filing No.: #20041043811

        

[Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	GE Commercial Distribution Finance Corporation	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/27/2005

        Filing No.: #20051975417

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Red Iron Acceptance, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 3/29/2013

        Filing No.: #20131210252

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	USAmeriBank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 12/24/2013

        Filing No.: #20135101978

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

    Schedule-22

     

    

 

	 	Susquehanna Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/28/2014

        Filing No.: #20140787077

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Takeuchi Mfg. (U.S.), Ltd.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 7/16/2014

        Filing No.: #20142822021

[Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	Volvo Construction Equipment North America, LLC and all its subsidiaries	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/11/2016

        Filing No.: #20160849537

        [Lien to be Terminated in connection with consummation of the Flagler Acquisition]

	USAmeriBank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/20/2016

        Filing No.: #20163696109

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	M2 Lease Funds LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/02/2017

        Filing No.: #20170748563

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Summit Funding Group, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/21/2017

        Filing No.: #20171160834

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Amur Equipment Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 2/23/2017

        Filing No.: #20171232328

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

    Schedule-23

     

    

 

	 	TCF Equipment Finance, a division of TCF National Bank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 6/28/2017

        Filing No.: #20174265234

         

	International Equipment Solutions, LLC	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 8/09/2017

        Filing No.: #20175281503

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	TCF Equipment Finance, a division of TCF National Bank	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 1/31/2018

        Filing No.: #20180723961

         

	VFS Leasing Co.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 3/09/2018

        Filing No.: #20181640396

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Toyota Industries Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 7/11/2019

        Filing No.: #20194797358

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

	Toyota Industries Commercial Finance, Inc.	DE	
        Initial Filing: UCC-1 Financing Statement

        Filing Date: 10/03/2019

        Filing No.: #20196908391

        [Lien to be Terminated in connection with consummation of the
        Flagler Acquisition]

 

		**	The Liens filed by Goldman Sachs Specialty Lending
Group, L.P., as Notes Representative will be terminated on the Effective Date.

 

 

    Schedule-24

     

    

 

SCHEDULE 6.04

EXISTING INVESTMENTS

 

None.

 

    Schedule-25

     

    

 

SCHEDULE 6.13(e)

HISTORICAL EBITDA, CAPITAL EXPENDITURES AND FIXED CHARGES

 

See attached.

 

    Schedule-26

     

    

 

EXHIBIT A

TO NOTE PURCHASE AGREEMENT 

 

FORM OF

ASSIGNMENT AND ASSUMPTION

 

This Assignment and Assumption
(this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by
and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Note Purchase Agreement identified below
(as amended, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), receipt of
a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto
are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein
in full.

 

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

 

	1.	Assignor:	______________________________
	 	 	 
	2.	Assignee:	______________________________
	 	 	[and is an Affiliate/Approved Fund of [identify Purchaser]]
	 	 	 
	3.	Issuers:	ALTA EQUIPMENT GROUP INC. 
	 	 	ALTA ENTERPRISES, LLC
	 	 	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	 	ALTA HEAVY EQUIPMENT SERVICES, LLC
	 	 	ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	 	ALTA CONSTRUCTION EQUIPMENT, L.L.C.
	 	 	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	 	ALTA EQUIPMENT HOLDINGS, INC.
	 	 	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	NITCO, LLC

 

     

     

    

 

	4.	Note Purchase Agreement:	The Note Purchase Agreement dated as of February [__], 2020
among the Issuers listed above, the Purchasers party thereto from time to time, and the Administrative Agent party thereto.

 

		5.	Assigned Interest:

 

	Notes Assigned	 	Aggregate 

Amount of 
Notes for all 

Purchasers	 	 	Amount of 

Notes 
Assigned	 	 	Percentage 

Assigned of 
Notes	 
	[Describe Note]	 	$	  	 	 	$	    	 	 	 	  	%
	 	 	$		 	 	$		 	 	 		%
	 	 	$		 	 	$		 	 	 		%

 

Effective Date: _____________ ___, 20___
[TO BE INSERTED BY THE Administrative Agent AND WHICH SHALL BE THE EFFECTIVE DATE
OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

[The Assignee agrees to deliver to the
Administrative Agent a completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom
all noteholder information (which may contain material non-public information about the Notes Parties and their Related Parties
or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s
compliance procedures and applicable laws, including federal and state securities laws.]1

 

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

 

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

 

 

 

1 To be included if the Assignee
is not a Purchaser.

 

    Exhibit A – Page 2

     

    

 

 

Consented to and Accepted:

 

U.S.
BANK NATIONAL ASSOCIATION,

as Administrative Agent

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

    Exhibit A – Page 3

     

    

 

ANNEX 1 to ASSIGNMENT AND ASSUMPTION 

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1. Representations and
Warranties.

 

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

 

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

 

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

 

3. General Provisions.
This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors
and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one
instrument.

 

    Exhibit A – Page 4

     

    

 

Acceptance and adoption of the terms of
this Assignment and Assumption by the Assignee and the Assignor by Electronic Signature (as defined in the Note Purchase Agreement)
or delivery of an executed counterpart of a signature page of this Assignment and Assumption by any Electronic System (as defined
in the Note Purchase Agreement) shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.

 

This
Assignment and Assumption shall be governed by, and construed and enforced in accordance with, the laws of the State of New York
without regard to conflict of laws principles (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law) thereof.

 

    Exhibit A – Page 5

     

    

 

EXHIBIT B

TO NOTE PURCHASE AGREEMENT

 

FORM OF

FIRST LIEN INTERCREDITOR AGREEMENT

 

See attached.

 

    Exhibit B-1

     

    

 

INTERCREDITOR AGREEMENT

 

This Intercreditor
Agreement (this “Agreement”), is dated as of February 3, 2020, and is between JPMorgan
Chase Bank, N.A., as Administrative Agent (in such capacity, with its successors and assigns, and as more specifically defined
below, the “ABL First Lien Agent”) for the ABL First Lien Secured Parties (as defined below), JPMorgan
Chase Bank, N.A., as Administrative Agent (in such capacity, with its successors and assigns, and as more specifically defined
below, the “Floor Plan First Lien Agent”) for the Floor Plan First Lien Secured Parties (as defined below) and
U.S. BANK NATIONAL ASSOCIATION, as Notes Representative (in such capacity, with its successors and assigns, and as more specifically
defined below, the “Second Lien Agent”) for the Second Lien Secured Parties (as defined below), and acknowledged
by B. RILEY PRINCIPAL MERGER CORP., to be re-named ALTA EQUIPMENT GROUP INC., a Delaware corporation, ALTA EQUIPMENT HOLDINGS,
INC., a Michigan corporation, ALTA ENTERPRISES, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT ILLINOIS,
LLC, a Michigan limited liability company, ALTA HEAVY EQUIPMENT SERVICES, LLC, a Michigan limited liability company, ALTA INDUSTRIAL
EQUIPMENT MICHIGAN, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT, L.L.C., a Michigan limited liability
company, ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C., a Michigan limited liability company, NITCO, LLC, a Michigan limited liability
company, and ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC, a Michigan limited liability company (all of the foregoing limited liability
companies and corporations, collectively, the “Borrowers”, each individually, a “Borrower”),
and all other Loan Parties (as defined below).

 

WHEREAS, the Borrowers,
the ABL First Lien Agent and certain financial institutions are parties to that certain Fifth Amended and Restated ABL First Lien
Credit Agreement of even effective date herewith (as amended, restated, supplemented or otherwise modified from time to time in
accordance herewith, the “Existing ABL First Lien Credit Agreement”), pursuant to which such financial institutions
have agreed to make loans and extend other financial accommodations to the Borrowers; and

 

WHEREAS, the Borrowers,
the Floor Plan First Lien Agent and certain financial institutions are parties to that certain Floor Plan First Lien Credit Agreement
of even effective date herewith (as amended, restated, supplemented or otherwise modified from time to time in accordance herewith,
the “Existing Floor Plan First Lien Credit Agreement”), pursuant to which such financial institutions have agreed
to make loans and extend other financial accommodations to the Borrowers; and

 

WHEREAS, the Borrowers,
the Second Lien Agent and certain purchasers are parties to that certain Note Purchase Agreement of even effective date herewith
(as amended, restated, supplemented or otherwise modified from time to time in accordance herewith, the “Existing Second
Lien Credit Agreement”), pursuant to which the Second Lien Agent and such purchasers have agreed to purchase notes issued
by the Borrowers; and

 

WHEREAS, the Borrowers
have granted to the ABL First Lien Agent for the benefit of the ABL First Lien Secured Parties liens and security interests in
the Common Collateral as security for payment and performance of the ABL First Lien Obligations; and

 

WHEREAS, the Borrowers
have granted to the Floor Plan First Lien Agent for the benefit of the Floor Plan First Lien Secured Parties liens and security
interests in the Common Collateral as security for payment and performance of the Floor Plan First Lien Obligations; and

 

WHEREAS, the Borrowers
have granted to the Second Lien Agent for the benefit of the Second Lien Secured Parties liens and security interests in the Common
Collateral as security for payment and performance of the Second Lien Obligations;

 

    Exhibit B-2

     

    

 

WHEREAS, parties hereto
desire to set forth in this Agreement their rights and remedies with respect to the Common Collateral and other agreements among
the parties hereto.

 

NOW THEREFORE, in consideration
of the foregoing and the mutual covenants herein contained and other good and valuable consideration, the existence and sufficiency
of which is expressly recognized by all of the parties hereto, the parties agree as follows:

 

SECTION 1. Definitions.

 

1.1. Defined Terms.
The following terms, as used herein, have the following meanings:

 

“ABL First
Lien Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement ABL First
Lien Agreement, the ABL First Lien Agent shall be the Person identified as such in such Agreement.

 

“ABL First
Lien Credit Agreement” means the collective reference to (a) the Existing ABL First Lien Credit Agreement, and (b) any
revolving credit agreement subject to a borrowing base or similar agreement or instrument complying with the terms of this Agreement
and evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to extend, replace,
refinance or refund in whole or in part the indebtedness and other obligations outstanding under the Existing ABL First Lien Credit
Agreement, or any other agreement or instrument referred to in this clause (b) (a “Replacement ABL First Lien Credit Agreement”).
Any reference to the ABL First Lien Credit Agreement hereunder shall be deemed a reference to any ABL First Lien Credit Agreement
then extant.

 

“ABL First
Lien Guarantee” means any guarantee by any Loan Party of any or all of the ABL First Lien Obligations.

 

“ABL First
Lien Obligations” means (a) all principal of and interest (including without limitation any Post-Petition Amounts) and
premium (if any) on all loans made pursuant to the ABL First Lien Credit Agreement or any DIP Financing by the ABL First Lien Secured
Parties to the extent such DIP Financing was made in compliance with the conditions set forth in Section 6.3, (b) all reimbursement
obligations (if any) and interest thereon (including without limitation any Post-Petition Amounts) with respect to any letters
of credit or similar instruments issued pursuant to the ABL First Lien Credit Agreement, (c) all Swap Obligations, (d) all Banking
Services Obligations and (e) all guarantee obligations, indemnities, fees, expenses and other amounts payable from time to time
pursuant to the ABL First Lien Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the
extent any payment with respect to any ABL First Lien Obligation (whether by or on behalf of any Loan Party, as proceeds of security,
enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set
aside or required to be paid to a debtor in possession, receiver or similar Person, then the obligation or part thereof originally
intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the ABL First Lien Secured
Parties, the Floor Plan First Lien Secured Parties and the Second Lien Secured Parties, be deemed to be reinstated and outstanding
as if such payment had not occurred from and after such date of reinstatement.

 

“ABL First
Lien Secured Parties” means the ABL First Lien Agent, the "Lenders" party from time to time to the ABL First
Lien Credit Agreement, and any other holders of the ABL First Lien Obligations.

 

“ABL First
Lien Security Documents” means the “Collateral Documents” as defined in the ABL First Lien Credit Agreement,
and any other documents that are designated under the ABL First Lien Credit Agreement as “First Lien Security Documents”
for purposes of this Agreement.

 

    Exhibit B-3

     

    

 

“Affiliate”
shall mean, with respect to a specified Person, any other Person that directly or indirectly through one or more intermediaries
Controls, is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability
to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto.

 

“Banking Services”
means each and any of the following bank services provided to any Loan Party by any First Lien Secured Party (or any of its Affiliates):
(a) credit cards for commercial customers (including, without limitation, “commercial credit cards” and purchasing
cards), (b) stored value cards, (c) merchant processing services, and (d) treasury management services (including, without limitation,
controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services).

 

“Banking Services
Obligations” means, with respect to any Loan Party, any and all obligations of any Loan Party, whether absolute or contingent
and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof
and substitutions therefor) in connection with Banking Services.

 

“Bankruptcy
Code” means the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended from time to time.

 

“Borrower”
and “Borrowers” have the meanings set forth in the introductory paragraph hereof.

 

“Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law to remain closed.

 

“Collateral
Agents” means the ABL First Lien Agent, the Floor Plan First Lien Agent and the Second Lien Agent.

 

“Common Collateral”
means all assets that are both First Lien Collateral and Second Lien Collateral.

 

“DIP Conditions”
means (a) the maximum aggregate principal amount of the applicable DIP Financing extended by First Lien Secured Parties, or consented
or not objected to by the requisite First Lien Secured Parties, when taken together with the aggregate principal amount of outstanding
pre-petition First Lien Obligations that will not be repaid by such DIP Financing (but excluding the amount of any "carve-out"
for professional fees and expenses) does not exceed the Maximum First Lien Principal Amount, (b) the Liens securing the First Lien
Obligations are subordinated to or pari passu with such DIP Financing, (c) the Second Lien Secured Parties retain a Lien on the
Common Collateral (including proceeds thereof arising after the commencement of such Insolvency Proceeding) with the same priority
as existed prior to the commencement of such Insolvency Proceeding, except to the extent of any requisite subordination in accordance
with Section 6.3(c), (d) such DIP Financing does not compel any Loan Party to seek confirmation of a specific plan of reorganization
for which all or substantially all of the material terms are set forth in the documentation relating to such DIP Financing, (e)
such DIP Financing does not expressly require the sale, liquidation or disposition of all or any substantial part of the Common
Collateral prior to a default under the DIP Financing, (f) the terms of such DIP Financing (including interest rate, fees and other
terms) are commercially reasonable under the circumstances, and (g) such DIP Financing is otherwise subject to the terms of this
Agreement.

 

“DIP Financing”
has the meaning set forth in Section 6.3.

 

    Exhibit B-4

     

    

 

“Enforcement
Action” means, with respect to the First Lien Obligations or the Second Lien Obligations, as applicable, any (a) judicial
or non-judicial foreclosure proceeding, the exercise of any power of sale, the taking of a deed, assignment, bill of sale or other
conveyance in lieu of foreclosure, the obtaining of a receiver or the taking of any other enforcement action against the Common
Collateral, or (b) exercise of any right or remedy available under the First Lien Documents or the Second Lien Documents, as applicable,
at law, in equity or otherwise to enforce, foreclose upon, take possession of or sell any Common Collateral.

 

“Excess ABL
First Lien Obligations” means the aggregate principal amount of the ABL First Lien Obligations outstanding under the
ABL First Lien Documents (excluding any outstanding Banking Services Obligations and Swap Obligations) that are in excess of the
Maximum ABL First Lien Principal Amount, and any accrued interest and recurring commitment and other similar fees to the extent,
but only to the extent, attributable to such excess.

 

“Excess First
Lien Obligations” means the aggregate principal amount of the Excess ABL First Lien Obligations plus the aggregate principal
amount of the Excess Floor Plan First Lien Obligations

 

“Excess Floor
Plan First Lien Obligations” means the aggregate principal amount of the Floor Plan First Lien Obligations outstanding
under the Floor Plan First Lien Documents (excluding any outstanding Banking Services Obligations and Swap Obligations) that are
in excess of the Maximum Floor Plan First Lien Principal Amount, and any accrued interest and recurring commitment and other similar
fees to the extent, but only to the extent, attributable to such excess.

 

“Excess Second
Lien Obligations” means the aggregate principal amount of the Second Lien Obligations outstanding under the Second Lien
Documents that is in excess of the Maximum Second Lien Principal Amount, and any accrued interest and recurring commitment and
other similar fees to the extent, but only to the extent, attributable to such excess.

 

“Existing
ABL First Lien Credit Agreement” has the meaning set forth in the first WHEREAS clause of this Agreement.

 

“Existing
Floor Plan First Lien Credit Agreement” has the meaning set forth in the second WHEREAS clause of this Agreement.

 

“Existing
Second Lien Credit Agreement” has the meaning set forth in the third WHEREAS clause of this Agreement.

 

“First Lien
Agents” means the ABL First Lien Agent and the Floor Plan First Lien Agent.

 

“First Lien
Credit Agreements” means the ABL First Lien Credit Agreement and the Floor Plan First Lien Credit Agreement.

 

"First Lien
Collateral” means all assets, whether now owned or hereafter acquired by any Borrower or any other Loan Party, in which
a Lien is granted or purported to be granted at any time to any First Lien Secured Party as security for any First Lien Obligation.

 

“First Lien
Default” means any "Default" under and as defined in any First Lien Credit Agreement.

 

“First Lien
Documents” means each First Lien Credit Agreement, each First Lien Security Document, each First Lien Guarantee, this
Agreement, each other “Loan Document” as defined in each First Lien Credit Agreement as in effect on the date hereof,
respectively, and the First Lien Intercreditor Agreement, in each case, as the same may be amended, supplemented, refinanced, or
otherwise modified from time to time, in accordance with terms hereof.

 

    Exhibit B-5

     

    

 

“First Lien
Guarantees” means the ABL First Lien Guarantees and the Floor Plan First Lien Guarantees.

 

“First Lien
Intercreditor Agreement” is defined in Section 10.3.

 

“First Lien
Obligations” means the ABL First Lien Obligations and the Floor Plan First Lien Obligations.

 

“First Lien
Obligations Payment Date” means the first date on which (a) the First Lien Obligations (other than those that constitute
Unasserted Contingent Obligations, and other than Excess First Lien Obligations) have been indefeasibly paid in cash in full (or
cash collateralized or defeased in accordance with the respective terms of the First Lien Documents), (b) all commitments to extend
credit under the First Lien Documents have been terminated, and (c) there are no outstanding letters of credit or similar instruments
issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the respective
terms of the First Lien Documents); provided, however, that for purposes of this definition, the amount to have been
paid pursuant to clause (a) above and the amount required to be cash collateralized or defeased pursuant to clause (c) above shall
not include such amounts to the extent constituting Excess First Lien Obligations.

 

“First Lien
Representative” means, at any time, the First Lien Agent designated under the First Lien Intercreditor Agreement as the
“First Lien Representative” at such time. On the date hereof, the First Lien Representative is the ABL First Lien Agent,
and for purposes of this Agreement shall remain the ABL First Lien Agent until the Second Lien Agent receives a written notification
signed by both First Lien Agents designating a different First Lien Representative.

 

“First Lien
Secured Parties” means the First Lien Agents, the First Lien Representative, the "Lenders" party from time
to time to any of the First Lien Credit Agreements, respectively, and any other holders of any of the First Lien Obligations.

 

“First Lien
Security Documents” means the ABL First Lien Security Documents and the Floor Plan First Lien Security Documents.

 

“Floor Plan
First Lien Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement Floor
Plan First Lien Agreement, the Floor Plan First Lien Agent shall be the Person identified as such in such Agreement.

 

“Floor Plan
First Lien Credit Agreement” means the collective reference to (a) the Existing Floor Plan First Lien Credit Agreement,
and (b) any floor plan or asset based (or combination thereof) credit agreement or similar agreement or instrument complying with
the terms of this Agreement and evidencing or governing the terms of any indebtedness or other financial accommodation that has
been incurred to extend, replace, refinance or refund in whole or in part the indebtedness and other obligations outstanding under
the Existing Floor Plan First Lien Credit Agreement, or any other agreement or instrument referred to in this clause (b) (a “Replacement
Floor Plan First Lien Credit Agreement”). Any reference to the Floor Plan First Lien Credit Agreement hereunder shall
be deemed a reference to any Floor Plan First Lien Credit Agreement then extant.

 

“Floor Plan
First Lien Guarantee” means any guarantee by any Loan Party of any or all of the Floor Plan First Lien Obligations.

 

    Exhibit B-6

     

    

 

“Floor Plan
First Lien Obligations” means (a) all principal of and interest (including without limitation any Post-Petition Amounts)
and premium (if any) on all loans made pursuant to the Floor Plan First Lien Credit Agreement or any DIP Financing by the Floor
Plan First Lien Secured Parties to the extent such DIP Financing was made in compliance with the conditions set forth in Section
6.3, (b) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Amounts) with
respect to any letters of credit or similar instruments issued pursuant to the Floor Plan First Lien Credit Agreement, (c) all
Swap Obligations, (d) all Banking Services Obligations and (e) all guarantee obligations, indemnities, fees, expenses and other
amounts payable from time to time pursuant to the Floor Plan First Lien Documents, in each case whether or not allowed or allowable
in an Insolvency Proceeding. To the extent any payment with respect to any Floor Plan First Lien Obligation (whether by or on behalf
of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance
or a preference in any respect, set aside or required to be paid to a debtor in possession, receiver or similar Person, then the
obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations
of the Floor Plan First Lien Secured Parties, the ABL First Lien Secured Parties and the Second Lien Secured Parties, be deemed
to be reinstated and outstanding as if such payment had not occurred from and after such date of reinstatement.

 

“Floor Plan
First Lien Secured Parties” means the Floor Plan First Lien Agent, the "Lenders" party from time to time to
the Floor Plan First Lien Credit Agreement, and any other holders of the Floor Plan First Lien Obligations.

 

“Floor Plan
First Lien Security Documents” means the “Collateral Documents” as defined in the Floor Plan First Lien Credit
Agreement, and any other documents that are designated under the Floor Plan First Lien Credit Agreement as “First Lien Security
Documents” for purposes of this Agreement.

 

“Insolvency
Proceeding” means any proceeding in respect of bankruptcy, insolvency, winding up, receivership, dissolution or assignment
for the benefit of creditors, in each of the foregoing events whether under the Bankruptcy Code or any similar federal, state or
foreign bankruptcy, insolvency, reorganization, receivership or similar law.

 

“Letter of
Credit Cash Collateral” has the meaning set forth in Section 4.6(c).

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, deed to secure debt, lien, pledge, hypothecation, collateral
assignment, assignation, debenture, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor
or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially
the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option,
call or similar right of a third party with respect to such securities.

 

“Loan Party”
means each Borrower and each subsidiary or other affiliate of any Borrower that hereafter becomes a party to any First Lien Document
or Second Lien Document. All references in this Agreement to any Loan Party shall include such Loan Party as a debtor-in-possession
and any receiver or trustee for such Loan Party in any Insolvency Proceeding.

 

“Maximum ABL
First Lien Principal Amount” means the amount equal to the sum of (a) 120% of the maximum amount (which maximum
amount is $300,000,000) of the credit facilities under the Existing ABL First Lien Credit Agreement on the Effective Date (plus
increases in principal after the Effective Date resulting solely from payments in kind of interest, but only to the extent such
payments are permitted by the terms hereof), fees, indemnities, expenses, charges and other amounts thereon, plus (b) 120%
of the principal amount of any committed increase of the credit facilities under the ABL First Lien Credit Agreement after the
date hereof in an aggregate principal amount not to exceed $30,000,000 pursuant to Section 2.21 of the ABL First Lien Credit Agreement
(as in effect on the Effective Date), including the satisfaction of the conditions to such increase as set forth therein as of
Effective Date, which conditions shall not be amended or waived, and in accordance with the terms and conditions of the ABL First
Lien Credit Agreement (as in effect on the Effective Date), less (c) the aggregate amount of all payments and prepayments
of principal of any term loans, if any, under the ABL First Lien Credit Agreements and the aggregate amount of permanent reductions
of revolving credit commitments under the ABL First Lien Credit Agreement. The amount of Banking Services Obligations and the amount
of Swap Obligations included in ABL First Lien Obligations shall not be subject to a limitation.

 

    Exhibit B-7

     

    

 

“Maximum
First Lien Principal Amount” means the Maximum ABL First Lien Principal Amount plus the Maximum Floor Plan First Lien
Principal Amount.

 

“Maximum Floor
Plan First Lien Principal Amount” means the amount equal to (a) $50,000,000, less (b) the aggregate amount
of all payments and prepayments of principal of any term loans, if any, under the Floor Plan First Lien Credit Agreements and the
aggregate amount of permanent reductions of revolving credit commitments under the Floor Plan First Lien Credit Agreement. The
amount of Banking Services Obligations and the amount of Swap Obligations included in Floor Plan First Lien Obligations shall not
be subject to a limitation.

 

“Maximum Second
Lien Principal Amount” means the amount equal to (a) 120% of the principal amount of Second Lien Obligations funded
and outstanding on the date hereof (plus increases in principal after the date hereof resulting solely from payments in kind of
interest, but only to the extent such payments are permitted by the terms hereof), fees, indemnities, expenses, charges and other
amounts thereon, less (b) the aggregate amount of all payments and prepayments of principal of any Loans (as defined in
the Second Lien Credit Agreement as of the date hereof).

 

“Permitted
Actions” means: (a) file a proof of claim or statement of interest, vote on a plan of reorganization (including a vote
to accept or reject a plan of partial or complete liquidation, reorganization, arrangement composition, or extension), and make
other filings, arguments, and motions, with respect to the Second Lien Obligations and the Common Collateral in any Insolvency
Proceeding commenced by or against any Loan Party; (b) take action to create, perfect, preserve, or protect (but not enforce) any
Lien on the Common Collateral securing the Second Lien Obligations, so long as such actions are (i) not adverse to the priority
status in accordance with this Agreement of Liens on the Common Collateral securing any of the First Lien Obligations or the First
Lien Secured Parties' rights to exercise remedies and (ii) otherwise not in violation of this Agreement; (c) file necessary pleadings
in opposition to a claim objecting to or otherwise seeking the disallowance of a Second Lien Obligation or a Lien securing the
Second Lien Obligations; (d) join (but not exercise any control over) a judicial foreclosure or Lien enforcement proceeding with
respect to the Common Collateral initiated by either First Lien Agent, to the extent that such action could not reasonably be expected
to interfere materially with such Enforcement Action, but no Second Lien Secured Party may receive any proceeds thereof unless
expressly permitted herein; (e) bid for or purchase Common Collateral at any public, private, or judicial foreclosure upon such
Common Collateral, or any sale of Common Collateral during an Insolvency Proceeding; provided that such bid may not include a “credit
bid” in respect of any Second Lien Obligations unless the net cash proceeds of such bid are otherwise sufficient to cause
the First Lien Obligations Payment Date and are applied to cause the First Lien Obligations Payment Date, in each case, at the
closing of such bid; (f) accelerate any Second Lien Obligations in accordance with the provisions of the Second Lien Documents;
(g) seek adequate protection during an Insolvency Proceeding to the extent expressly permitted by Section 6; (h) inspect or appraise
the Common Collateral (and to engage or retain investment bankers or appraisers for the sole purposes of appraising or valuing
the Common Collateral), or to receive information or reports concerning the Common Collateral, in each case pursuant to the terms
of the Second Lien Documents and applicable law; (i) take any action to the extent necessary to prevent the running of any applicable
statute of limitation or similar restriction on claims, or to assert a compulsory crossclaim or counterclaim against any Loan Party;
(j) object to the proposed retention of Common Collateral by any First Lien Secured Party pursuant to Section 9-620 of the Uniform
Commercial Code; (k) take any action to seek and obtain specific performance or injunctive relief to compel a Loan Party to comply
with (or not violate or breach) an obligation under the Second Lien Documents, other than an obligation to pay money; (l) enforce
the terms of any subordination agreement with respect to any indebtedness subordinated to the Second Lien Obligations so long as
any proceeds are applied in accordance with Section 5.1; and (m) exercise any rights and remedies that could be exercised by an
unsecured creditor in accordance with the terms of the Second Lien Documents and applicable law; in each case (i.e.; with respect
to any of the actions described in this paragraph) to the extent not expressly prohibited by, or contrary to, the terms of this
Agreement. Except as expressly provided for herein, no provision hereof shall be construed to prohibit the payment by the Borrowers
of regularly scheduled principal, interest, fees and other amounts, including but not limited to prepayments and repayments of
any loans and any premiums or make-whole amounts owed in respect of the Second Lien Obligations so long as the receipt thereof
is not in violation of Section 5.1.

 

    Exhibit B-8

     

    

 

“Person”
means any person, individual, sole proprietorship, partnership, joint venture, corporation, limited liability company, unincorporated
organization, association, institution, entity, party, including any government and any political subdivision, agency or instrumentality
thereof.

 

“Post-Petition
Amounts” means any interest, fees, costs, expenses or other charges that accrues after the commencement of any Insolvency
Proceeding (or would accrue but for the commencement of an Insolvency Proceeding), whether or not allowed or allowable in any such
Insolvency Proceeding.

 

“Purchase”
has the meaning set forth in Section 4.6(b).

 

“Purchase
Notice” has the meaning set forth in Section 4.6(a).

 

“Purchase
Option Event” means (a) an acceleration of the First Lien Obligations in accordance with the applicable First Lien Credit
Agreement, (b) the occurrence and continuation of any First Lien Default under the applicable First Lien Credit Agreement, that
remains uncured or unwaived for at least thirty (30) consecutive days after the applicable First Lien Secured Party has knowledge
thereof and the requisite First Lien Secured Parties have not agreed to forbear from the exercise of remedies, (c) following the
occurrence of an Event of Default under the applicable First Lien Credit Agreement, an election by the applicable First Lien Secured
Parties to cease making additional loans or advances under such First Lien Credit Agreement (in the full amount requested by the
Loan Parties to the extent such amount would be otherwise permitted and available under the applicable First Lien Credit Agreements)
when such loans or advances under such First Lien Credit Agreement would not cause the principal amount of the applicable First
Lien Obligations to exceed the applicable Maximum First Lien Principal Amount and such election continues for ten (10) consecutive
days, (d) the initiation of any secured creditor remedies by the applicable First Lien Agent upon all or a material portion of
the Common Collateral, including putting account debtors on notice to make payment to, or at the direction of, such First Lien
Agent, (e) the commencement of an Insolvency Proceeding, (f) a Second Lien Payment Default, or (g) the occurrence and continuation
of any other Second Lien Default that remains uncured or unwaived for at least sixty (60) consecutive days.

 

“Purchase
Price” has the meaning set forth in Section 4.6(c).

 

“Purchasing
Parties” has the meaning set forth in Section 4.6(b).

 

“Recovery”
has the meaning set forth in Section 6.6.

 

“Replacement
ABL First Lien Agreement” has the meaning set forth in the definition of “ABL First Lien Credit Agreement”.

 

“Replacement
Floor Plan First Lien Agreement” has the meaning set forth in the definition of “Floor Plan First Lien Credit Agreement”.

 

    Exhibit B-9

     

    

 

“Replacement
Second Lien Agreement” has the meaning set forth in the definition of “Second Lien Credit Agreement.”

 

"Retained Interest"
has the meaning set forth in Section 4.6(g).

 

“Secured Parties”
means the First Lien Secured Parties and the Second Lien Secured Parties.

 

“Second Lien
Agent” has the meaning set forth in the introductory paragraph hereof. In the case of any Replacement Second Lien Credit
Agreement, the Second Lien Agent shall be the Person identified as such in such Agreement.

 

“Second Lien
Collateral” means all assets, whether now owned or hereafter acquired by any Borrower or any other Loan Party, in which
a Lien is granted or purported to be granted to any Second Lien Secured Party as security for any Second Lien Obligation.

 

“Second Lien
Credit Agreement” means the collective reference to (a) the Existing Second Lien Credit Agreement, and (b) any credit
agreement, loan agreement, note agreement, promissory note, indenture, or other agreement or instrument complying with the terms
of this Agreement and evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred
to extend, replace, refinance or refund in whole or in part the indebtedness and other obligations outstanding under the Existing
Second Lien Agreement or any other agreement or instrument referred to in this clause (b) (a “Replacement Second Lien
Credit Agreement”). Any reference to the Second Lien Credit Agreement hereunder shall be deemed a reference to any Second
Lien Credit Agreement then extant.

 

“Second Lien
Default” means any “Default” under and as defined in the Second Lien Documents.

 

“Second Lien
Documents” means the Second Lien Credit Agreement, each Second Lien Security Document, each Second Lien Guarantee and
each other “Loan Document” as defined in the Second Lien Credit Agreement as in effect on the date hereof, in each
case, as the same may be amended, supplemented, refinanced, or otherwise modified from time to time, in accordance with terms hereof.

 

“Second Lien
Guarantee” means any guarantee by any Loan Party of any or all of the Second Lien Obligations.

 

“Second Lien
Obligations” means all principal of and interest (including without limitation any Post-Petition Amounts) and premium
(if any) on all indebtedness under the Second Lien Credit Agreement and (b) all guarantee obligations, indemnities, fees,
premiums, make-whole amounts, expenses and other amounts payable from time to time pursuant to the Second Lien Documents, in each
case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Lien
Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise)
is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession,
any First Lien Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied
shall, for the purposes of this Agreement and the rights and obligations of the First Lien Secured Parties and the Second Lien
Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred from and after such date of reinstatement.

 

"Second Lien
Payment Default" means a Second Lien Default under Section 8.01(a) of the Second Lien Credit Agreement as in effect on
the date hereof.

 

“Second Lien
Secured Parties” means the Second Lien Agent, the “Purchasers” from time to time party to the Second Lien
Credit Agreement, and all other holders of Second Lien Obligations.

 

    Exhibit B-10

     

    

 

“Second Lien
Security Documents” means the “Collateral Documents” as defined in the Second Lien Credit Agreement and any
documents that are designated under the Second Lien Credit Agreement as “Second Lien Security Documents” for purposes
of this Agreement.

 

“Second Lien
Default Notice” means written notice of a Second Lien Default from the Second Lien Agent to each First Lien Agent.

 

“Standstill
Period” means the period commencing on the date of a Second Lien Default and ending upon the date which is the earlier
of (a) 180 days after each First Lien Agent has received a Second Lien Default Notice with respect to such Second Lien Default,
or (b) the date on which the First Lien Obligations Payment Date has occurred.

 

“Swap Agreement”
means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving,
or settled by reference to, one or more rates or pricing risk or any similar transaction or any combination of the foregoing transactions,
which includes agreements to effectively cap, collar or exchange interest rates (from floating to fixed rates, from one floating
rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of any Loan Party.

 

“Swap Obligations”
means, with respect to any Loan Party, any obligations of such Loan Party owed to any First Lien Secured Party (or any of its Affiliates)
whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions
and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements permitted hereunder, and (b) any
and all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction.

 

“Unasserted
Contingent Obligations” means, at any time, First Lien Obligations for taxes, costs, indemnifications, reimbursements,
damages and other liabilities (excluding (a) the principal of, and interest and premium (if any) on, and fees and expenses relating
to, any First Lien Obligation and (b) contingent reimbursement obligations in respect of amounts that may be drawn under outstanding
letters of credit) in respect of which no assertion of liability (whether oral or written) and no claim or demand for payment (whether
oral or written) has been made (and, in the case of First Lien Obligations for indemnification, no notice for indemnification has
been issued by the indemnitee) at such time.

 

“Uniform Commercial
Code” means the Uniform Commercial Code as in effect from time to time in the applicable jurisdiction.

 

1.2. Amended Agreements.
All references in this Agreement to agreements or other contractual obligations shall, unless otherwise specified, be deemed to
refer to such agreements or contractual obligations as amended, supplemented, restated, refinanced or otherwise modified from time
to time to the extent permitted hereby.

 

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

 

    Exhibit B-11

     

    

 

SECTION 2.
[Reserved].

 

SECTION 3.
Lien Priorities.

 

3.1. Subordination
of Liens.

 

(a) Any and all Liens
now existing or hereafter created or arising in favor of any Second Lien Secured Party securing the Second Lien Obligations, regardless
of how acquired, whether by grant, statute, operation of law, subrogation or otherwise are expressly junior in priority, operation
and effect to any and all Liens now existing or hereafter created or arising in favor of the First Lien Secured Parties securing
any of the First Lien Obligations (other than Excess First Lien Obligations), notwithstanding (i) anything to the contrary contained
in any agreement or filing to which any Second Lien Secured Party may now or hereafter be a party, and regardless of the time,
order or method of grant, attachment, recording or perfection of any financing statements or other security interests, assignments,
pledges, deeds, mortgages and other liens, charges or encumbrances or any defect or deficiency or alleged defect or deficiency
in any of the foregoing, (ii) any provision of the Uniform Commercial Code or any applicable law or any First Lien Document or
Second Lien Document or any other circumstance whatsoever and (iii) the fact that any such Liens in favor of any First Lien Secured
Party securing any such First Lien Obligations are (x) subordinated to any Lien securing any obligation of any Loan Party other
than the Second Lien Obligations pursuant to a final-non appealable order of a court of competent jurisdiction or (y) otherwise
subordinated, voided, avoided, invalidated or lapsed.

 

(b) No First Lien Secured
Party or Second Lien Secured Party shall (i) object to or contest, or support any other Person in contesting or objecting to, at
any hearing or in any proceeding (including without limitation, any Insolvency Proceeding) the validity, perfection, priority or
enforceability of any security interest in the Common Collateral granted to the other or (ii) demand, request, plead or otherwise
assert or claim the benefit of any marshalling, appraisal, valuation or similar right which it may have in respect of such Common
Collateral or the Liens on such Common Collateral, except to the extent that such rights are expressly granted in this Agreement.
Notwithstanding any failure by any First Lien Secured Party or Second Lien Secured Party to perfect its security interests in the
Common Collateral or any avoidance, invalidation or subordination by any court of competent jurisdiction of the security interests
in the Common Collateral granted to the First Lien Secured Parties or the Second Lien Secured Parties, the priority and rights
as between the First Lien Secured Parties and the Second Lien Secured Parties with respect to the Common Collateral shall be as
set forth herein.

 

(c) All Liens securing
Excess First Lien Obligations will be senior in all respects and prior to any Lien on the Collateral securing any Excess Second
Lien Obligations and all Liens securing any Excess Second Lien Obligations will be junior and subordinate in all respects to any
Lien securing Excess First Lien Obligations.

 

3.2. [Reserved]

 

3.3. Legend.

 

(a) Until the termination
of this Agreement, the Second Lien Secured Parties will cause to be clearly, conspicuously and prominently inserted on the face
of any Second Lien Security Agreement the following legend (or a substantially similar legend):

 

    Exhibit B-12

     

    

 

“The liens and security interests
on the property described herein are junior and subordinate in the manner and to the extent set forth in that certain Intercreditor
Agreement dated as of February [__], 2020 among JPMorgan Chase Bank, N.A., as ABL First Lien Agent, JPMorgan Chase Bank, N.A.,
as Floor Plan First Lien Agent and U.S. Bank National Association, as Second Lien
Agent, and acknowledged by the Loan Parties referred to therein, as amended from time to time.”

 

(b) Each Collateral Agent
hereby acknowledges that, to the extent that it holds, or a third party holds on its behalf, physical possession of or “control”
(as defined in the Uniform Commercial Code) over Common Collateral pursuant to its applicable Security Documents, such possession
or control is also for the benefit of each other Collateral Agent and the other Secured Parties solely to the extent required to
perfect their security interest in such Common Collateral. Nothing in the preceding sentence shall be construed to impose any duty
on any Collateral Agent (or any third party acting on its behalf) with respect to such Common Collateral or provide any Collateral
Agent or any other Secured Party with any rights with respect to such Common Collateral beyond those specified in this Agreement
and the applicable Security Documents; provided that (i) prior to the occurrence of the First Lien Obligations Payment Date,
the Second Lien Agent shall deliver to the ABL First Lien Agent, at the Borrowers’ sole cost and expense, the Common Collateral
in its possession or control together with any necessary endorsements to the extent required by the First Lien Documents and (ii)
subsequent to the occurrence of the First Lien Obligations Payment Date, the First Lien Agents shall (x) deliver to the Second
Lien Agent, at the Borrowers’ sole cost and expense, the Common Collateral in its possession or control together with any
necessary endorsements to the extent required by the Second Lien Documents or (y) direct and deliver such Common Collateral as
a court of competent jurisdiction otherwise directs; and provided, further, that the provisions of this Agreement
are intended solely to govern the respective Lien priorities as between the First Lien Secured Parties and the Second Lien Secured
Parties and shall not impose on the First Lien Secured Parties any obligations in respect of the disposition of any Common Collateral
(or any proceeds thereof) that would conflict with prior perfected Liens or any claims thereon in favor of any other Person that
is not a Secured Party.

 

3.4. No New Liens.
So long as the First Lien Obligations Payment Date has not occurred, the parties hereto agree that there shall be no Lien, and
no Loan Party shall have any right to create any Lien, on any assets of any Loan Party securing any Second Lien Obligation or First
Lien Obligation, as applicable, if these same assets are not subject to, and do not become subject to, Liens securing the First
Lien Obligations or a Lien securing the Second Lien Obligations, as applicable (unless each First Lien Agent, or Second Lien Agent,
as applicable, shall have declined in writing to receive a Lien on such asset). To the extent that the foregoing provisions are
not complied with for any reason (without limiting any other rights and remedies available to the First Lien Secured Parties or
the Second Lien Secured Parties, as applicable, against the Loan Parties) and to the extent as a result thereof such assets are
not included in First Lien Collateral or Second Lien Collateral, as the case may be, each of the First Lien Secured Parties and
the Second Lien Secured Parties agrees that any amounts received by or distributed to any such party pursuant to or as a result
of Liens granted on such assets in contravention of this Section 3.4 shall be subject to Section 5.1 (and solely for such purpose,
each of the First Lien Secured Parties and the Second Lien Secured Parties shall be deemed to have a valid and perfected Lien on
any such assets, and as such, such assets shall constitute Common Collateral for such purpose).

 

    Exhibit B-13

     

    

 

SECTION
4. Enforcement Rights.

 

4.1. Exclusive Enforcement
Regarding Common Collateral. Until the First Lien Obligations Payment Date has occurred, whether or not an Insolvency Proceeding
has been commenced by or against any Loan Party, the First Lien Representative on behalf of the First Lien Secured Parties, after
giving the Second Lien Agent at least 10 Business Days' prior written notice of their intent to take an Enforcement Action (except
to the extent, and only to the extent, that the First Lien Representative reasonably believes that such Enforcement Action is immediately
required in order to prevent any material loss or material decrease in value of any Common Collateral, in which event, the First
Lien Representative shall provide the Second Lien Agent with notice of the occurrence of such Enforcement Action as soon as reasonably
practicable), shall have the exclusive right to take and continue any Enforcement Action (including the right to credit bid their
debt) with respect to the Common Collateral, without any consultation with, consent or involvement of or interference by any Second
Lien Secured Party, but subject to the provisos set forth in Sections 4.2 and 6.2. Upon the occurrence and during the continuance
of a First Lien Default, the First Lien Representative, the First Lien Agents and the other First Lien Secured Parties may take
and continue any Enforcement Action with respect to the First Lien Obligations and the Common Collateral in such order and manner
as they may determine in their sole discretion in accordance with the terms and conditions of the First Lien Documents and applicable
law.

 

4.2. Standstill.
The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that, until the First Lien Obligations
Payment Date has occurred, but subject to the provisos at the end of this Section 4.2 and Section 6.2, without the prior written
consent of the First Lien Agents:

 

(a) they will not take
or cause to be taken any Enforcement Action;

 

(b) they will not take
or cause to be taken any action, the purpose or effect of which is to make any Lien in respect of any Second Lien Obligation pari
passu with or senior to, or to give any Second Lien Secured Party any preference or priority relative to, the Liens with respect
to the First Lien Obligations (other than Excess First Lien Obligations) or the First Lien Secured Parties with respect to any
of the Common Collateral;

 

(c) they will not contest,
oppose, object to, interfere with, hinder or delay, in any manner, whether by judicial proceedings (including without limitation
the filing of an Insolvency Proceeding) or otherwise, any foreclosure, sale, lease, exchange, transfer or other disposition of
the Common Collateral by any First Lien Secured Party or any other Enforcement Action taken (or any forbearance from taking any
Enforcement Action) by or on behalf of any First Lien Secured Party, in each case in accordance with this Agreement and applicable
law;

 

(d) they have no right
to (i) direct either First Lien Agent or any other First Lien Secured Party to exercise any right, remedy or power with respect
to the Common Collateral or pursuant to the First Lien Security Documents (or, to the extent they may have any such right described
in this clause (d)(i), whether as a junior lien creditor or otherwise, they hereby irrevocably waive such right) or (ii) except
as expressly permitted in this Agreement, consent or object to the exercise by either First Lien Agent or any First Lien Secured
Party of any right, remedy or power with respect to the Common Collateral pursuant to the First Lien Security Documents or to the
timing or manner in which any such right is exercised or not exercised;

 

(e) they will not institute
any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim against any First Lien
Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to,
and no First Lien Secured Party shall be liable for, any action taken or omitted to be taken by any First Lien Secured Party with
respect to, the Common Collateral or pursuant to the applicable First Lien Documents in compliance with the terms and conditions
of this Agreement; and

 

    Exhibit B-14

     

    

 

(f) they will not seek,
and hereby waive any right, to have the Common Collateral or any part thereof marshaled upon any foreclosure or other disposition
of the Common Collateral;

 

provided that, notwithstanding the
foregoing and so long as no Standstill Period is in effect, any Second Lien Secured Party may exercise and continue to pursue any
Enforcement Actions under the Second Lien Documents or applicable law following the occurrence of and during the continuation of
a Second Lien Default; provided, further, however, that, notwithstanding the foregoing, in no event shall any Second
Lien Secured Party exercise any Enforcement Actions if, notwithstanding the expiration of the Standstill Period, any First Lien
Secured Party shall have commenced (prior to the expiration of the Standstill Period) and be diligently pursuing any Enforcement
Action with respect to all or any material portion of the Common Collateral; and provided, further, that (i) in any
Insolvency Proceeding commenced by or against any Loan Party, the Second Lien Agent and the Second Lien Secured Parties may take
any action expressly permitted by Section 6, (ii) nothing herein shall (x) limit Second Lien Secured Parties from initiating or
maintaining Permitted Actions, or (y) restrict or otherwise limit Second Lien Secured Parties from commencing or joining any other
person in commencing, or filing a petition for, any Insolvency Proceeding against any Loan Party; provided that the Second
Lien Secured Parties shall not exercise any such right referred to in this clause (y) during the Standstill Period and shall not,
without giving each First Lien Agent 10 Business Days' prior written notice (which notice may, for the avoidance of doubt, be given
during the Standstill Period), exercise any rights or remedies described in clause (m) of the definition of Permitted Actions during
the Standstill Period.

 

4.3. Cooperation.
The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that each of them shall take such
actions as either First Lien Agent shall reasonably request in connection with the exercise by the First Lien Secured Parties of
their rights set forth herein in respect of the Common Collateral. Each First Lien Agent, on behalf of itself and the other First
Lien Secured Parties, agrees that each of them shall take such actions as the Second Lien Agent shall reasonably request in connection
with the exercise by the Second Lien Secured Parties of their rights set forth herein in respect of the Common Collateral.

 

4.4. Unsecured Creditor
Remedies; Judgment Creditors. Except as expressly set forth in Sections 3.1(b), 4.1, the final proviso to 4.2, 6, 9.1 and 10.1,
Second Lien Agent and Second Lien Secured Parties may exercise rights and remedies available to unsecured creditors generally,
but solely to the extent such actions are not prohibited by the terms of this Agreement. In the event that any Second Lien Secured
Party becomes a judgment lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment lien
shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien
Obligations are subject to the terms of this Agreement.

 

4.5. Actions Upon
Breach. Should either any First Lien Secured Party or any Second Lien Secured Party, as applicable, contrary to this Agreement,
in any way take, attempt to or threaten to take, any action with respect to the Common Collateral (including, without limitation,
any attempt to realize upon or enforce any remedy with respect to this Agreement), or fail to take any action required by this
Agreement, the other party may obtain relief against the First Lien Secured Party or the Second Lien Secured Party, as applicable,
by injunction, specific performance and/or other appropriate equitable relief, it being understood and agreed by the First Lien
Secured Parties or the Second Lien Secured Parties, as applicable, that (i) the damages suffered by the Secured Parties seeking
relief from the actions of the other Secured Parties against whom such relief is sought may at that time be difficult to ascertain
and may be irreparable, and (ii) the First Lien Secured Parties or the Second Lien Secured Parties, as applicable, waive any
defense that the Loan Parties and/or any Secured Party seeking relief cannot demonstrate damage and/or be made whole by the awarding
of damages.

 

4.6. Option to Purchase.

 

(a) Upon the occurrence
and during the continuance of a Purchase Option Event, all or a portion of the Second Lien Secured Parties, shall have the option
at any time upon written irrevocable notice provided by Second Lien Agent (on behalf of such Second Lien Secured Parties) to the
First Lien Representative (the “Purchase Notice”) to purchase from the First Lien Secured Parties all of the
First Lien Obligations (other than the Excess First Lien Obligations). The Second Lien Secured Parties may not purchase less than
all of the First Lien Obligations (other than the Excess First Lien Obligations). If the Second Lien Agent so delivers the Purchase
Notice, the First Lien Representative and each First Lien Agent shall terminate or suspend any existing Enforcement Actions and
shall not take any further Enforcement Actions, provided, that the Purchase (as defined below) shall have been consummated
on the date specified in the Purchase Notice in accordance with this Section 4.6.

 

    Exhibit B-15

     

    

 

(b) On the date specified
by the Second Lien Agent in the Purchase Notice (which shall be a Business Day not less than five (5) Business Days, nor more than
twenty (20) Business Days, after receipt by the First Lien Representative of the Purchase Notice, the First Lien Secured Parties
shall sell to the Second Lien Secured Parties electing to purchase pursuant to Section 4.6(a) (the “Purchasing Parties”),
and the Purchasing Parties shall purchase (the “Purchase”) from the First Lien Secured Parties, all of the First
Lien Obligations (other than the Excess First Lien Obligations).

 

(c) Without limiting
the obligations of the Loan Parties under the First Lien Documents to the First Lien Secured Parties with respect to the Retained
Interest (as defined below) (which shall not be transferred in connection with the Purchase), on the date of the Purchase, the
Purchasing Parties shall pay to the First Lien Representative (for the benefit of the applicable First Lien Secured Parties) as
the purchase price (the “Purchase Price”) therefor (i) the principal of all First Lien Obligations (other than
the Excess First Lien Obligations and First Lien Obligations cash collateralized in accordance with clauses (ii) and (iii) below)
then outstanding, (ii) in the case of any Swap Obligations, the amount that would be payable by the relevant Loan Party thereunder
if it were to terminate such Swap Obligations on the date of the Purchase or, if not terminated, an amount determined by the relevant
First Lien Secured Party to be reasonably necessary to collateralize its credit risk arising out of such Swap Obligations, (iii)
with respect to letters of credit, furnish cash collateral (the “Letter of Credit Cash Collateral”) to the First
Lien Representative in such amounts as the relevant First Lien Secured Parties determine is reasonably necessary to secure such
First Lien Secured Parties in connection with any outstanding letters of credit (not to exceed 105% of the aggregate undrawn face
amount of such letters of credit), and (iv) accrued and unpaid interest, fees (other than any prepayment premium, if any), breakage
costs, attorneys’ fees and expenses to the extent not allocable to Excess First Lien Obligations; provided that for
the avoidance of doubt, in no event shall the Purchase Price calculated based on the foregoing (excluding clause (iv) exceed the
Maximum First Lien Principal Amount with respect to the First Lien Obligations.

 

(d) The Purchase Price
and Letter of Credit Cash Collateral shall be remitted by wire transfer in immediately available funds to such account of the First
Lien Representative as it shall designate to the Purchasing Parties. The First Lien Representative shall, promptly following its
receipt thereof, distribute the amounts received by it in respect of the Purchase Price to the applicable First Lien Secured Parties
in accordance with the applicable First Lien Documents and the First Lien Intercreditor Agreement. Interest shall be calculated
to but excluding the day on which the Purchase occurs if the amounts so paid by the Purchasing Parties to each account designated
by the First Lien Agents, respectively, are received in such account prior to 12:00 Noon, New York City time, and interest shall
be calculated to and including such day if the amounts so paid by the Purchasing Parties to any account designated by the First
Lien Agents are received in such account later than 12:00 Noon, New York City time.

 

(e) The Purchase shall
be made without representation or warranty of any kind by the First Lien Secured Parties as to the First Lien Obligations, the
Common Collateral or otherwise and without recourse to the First Lien Secured Parties, except that the First Lien Secured Parties
shall represent and warrant: (i) the amount of their respective First Lien Obligations, (ii) that the First Lien Secured Parties
own their respective First Lien Obligations free and clear of any liens or encumbrances and (iii) that the First Lien Secured Parties
have the right to assign all of their respective First Lien Obligations and their respective assignment is duly authorized.

 

    Exhibit B-16

     

    

 

(f) In the event that
any one or more of the Second Lien Secured Parties exercises and consummates the purchase option set forth in this Section 4.6,
(i) the Purchasing Parties shall have the right, but not the obligation, to require the First Lien Agents to immediately resign
under the First Lien Credit Agreements, and (ii) notwithstanding anything contained in the First Lien Documents to the contrary,
each First Lien Agent shall have the right, but not the obligation, to immediately resign as agent under the applicable First Lien
Credit Agreement. In either such event, the First Lien Agents shall execute and deliver such documents and instruments reasonably
requested by the Second Lien Agent and/or Purchasing Parties to assign and transfer any Common Collateral, together with any and
all rights under deposit account control agreements and lien waivers related to the Common Collateral, to the applicable successor
agent under the First Lien Documents.

 

(g) In the event that
any one or more of the Second Lien Secured Parties exercises and consummates the purchase option set forth in this Section 4.6,
(i) the First Lien Secured Parties shall retain their indemnification rights under the First Lien Documents for actions or other
matters arising on or prior to the date of such purchase and (ii) and in the event that, at the time of such Purchase, there exists
Excess First Lien Obligations, the consummation of such purchase option shall not include (nor shall the Purchase Price be calculated
with respect to) such Excess First Lien Obligations (clauses (i) and (ii), the “Retained Interest”).

 

(h) In the event that
a Retained Interest exists, each First Lien Secured Party shall, at the request of the Purchasing Parties, execute an amendment
to the applicable First Lien Credit Agreement acknowledging that such Retained Interest consisting of Excess First Lien Obligations
is a last out tranche (other than with respect to Excess Second Lien Obligations), payable after the payment in full, in cash,
of the Second Lien Obligations (other than Excess Second Lien Obligations). Each First Lien Secured Party shall continue to have
all rights and remedies of a lender under the applicable First Lien Credit Agreement and the other First Lien Loan Documents; provided,
that no First Lien Secured Party shall have any right to vote on or otherwise consent to any amendment, waiver, departure from
or other modification of any provision of any First Lien Document; provided, however, that no such amendment, waiver,
departure from or other modification shall modify the priority of the Liens with respect to such Excess First Lien Obligations
and the Excess Second Lien Obligations as provided in Sections 3.1(c) and 5.1.

 

SECTION
5. Application of Proceeds of Common Collateral; Dispositions and Releases of Common Collateral; Inspection and Insurance.

 

5.1. Application
of Proceeds; Turnover Provisions. All proceeds of Common Collateral received by the First Lien Secured Parties or the Second
Lien Secured Parties in connection with an Insolvency Proceeding or an Enforcement Action, shall be distributed as follows: first
to the First Lien Representative for application to the First Lien Obligations (other than any Excess First Lien Obligations) in
accordance with the terms of the First Lien Documents and the First Lien Intercreditor Agreement until the First Lien Obligations
Payment Date has occurred, and thereafter, to the Second Lien Agent for application to the Second Lien Obligations (other
than any Excess Second Lien Obligations) in accordance with the Second Lien Documents until the Second Lien Obligations (other
than any Excess Second Lien Obligations) are paid in full, in cash. In the event any Excess First Lien Obligations remain unpaid
after full payment of the Second Lien Obligations (other than any Excess Second Lien Obligations), any remaining proceeds of Common
Collateral shall be delivered to the First Lien Representative for application to such Excess First Lien Obligations in accordance
with the terms of the First Lien Documents and the First Lien Intercreditor Agreement. In the event any Excess Second Lien Obligations
remain unpaid after full payment of the First Lien Obligations (including all Excess First Lien Obligations), any remaining proceeds
of Common Collateral shall be delivered to the Second Lien Agent for application to such Excess Second Lien Obligations in accordance
with the terms of the Second Lien Documents. Until the occurrence of the First Lien Obligations Payment Date, any Common Collateral,
including without limitation any such Common Collateral constituting proceeds, that may be received by any Second Lien Secured
Party in violation of this Agreement shall be segregated and held in trust and promptly paid over to the First Lien Representative,
for the benefit of the First Lien Secured Parties, for application pursuant to this Section 5.1 (and subject to the First Lien
Intercreditor Agreement as to the allocation thereof among the First Lien Secured Parties), in the same form as received, with
any necessary endorsements, and each Second Lien Secured Party hereby authorizes each of the First Lien Representative and the
First Lien Agents to make any such endorsements as agent for the Second Lien Agent (which authorization, being coupled with an
interest, is irrevocable).

 

    Exhibit B-17

     

    

 

5.2. Releases of
Collateral.

 

(a) Until the First Lien
Obligations Payment Date, if the First Lien Agents release a Lien on all or any portion of the Common Collateral in connection
with: (a) an Enforcement Action, (b) a sale pursuant to Section 363 of the Bankruptcy Code, or (c) a disposition of any Collateral
that is permitted pursuant to the First Lien Documents and the Second Lien Documents, then any Lien of the Second Lien Agent on
such Common Collateral will be, except as otherwise provided below, automatically and simultaneously released to the same extent
(it being understood that the Second Lien Agent shall still, subject to the terms of this Agreement, have a security interest with
respect to the proceeds of such Common Collateral except to the extent applied to First Lien Obligations in accordance with Section
5.1); provided, that in each case of the releases by First Lien Agents in subclauses (a), (b) and (c), (1) the net cash proceeds
of such Enforcement Action or disposition are applied to permanently repay the First Lien Obligations (or any DIP Financing, as
applicable) in accordance with Section 5.1 (it being acknowledged that any credit bid by either First Lien Agent in any foreclosure
or other disposition of any Common Collateral pursuant to any Enforcement Action is deemed to be a permanent repayment of the First
Lien Obligations (or any DIP Financing, as applicable) for purposes hereof), (2) such sale is conducted in accordance with applicable
law, and (3) such Enforcement Action, sale or disposition does not result in a sale or transfer of Common Collateral to any Borrower,
or any of their affiliates.

 

(b) If the Lien of Second
Lien Agent in the Common Collateral is to be released pursuant to the foregoing clause (a), the Second Lien Agent shall promptly
execute and deliver such release documents and instruments and shall take such further actions as the First Lien Representative
shall reasonably request to evidence any release of such Lien described in paragraph (a). Until the First Lien Obligations Payment
Date, the Second Lien Agent hereby appoints the First Lien Representative and any officer or duly authorized person of the First
Lien Representative, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power of attorney
in the place and stead of the Second Lien Agent and in the name of the Second Lien Agent or in the First Lien Representative’s
own name, from time to time, in the First Lien Representative’s sole discretion, for the purposes of carrying out the terms
of this Section 5.2, to take any and all appropriate action and to execute and deliver any and all documents and instruments as
may be reasonably necessary or desirable to accomplish the purposes of this Section 5.2, including, without limitation, any financing
statements, endorsements, assignments, releases or other documents or instruments of transfer (which appointment, being coupled
with an interest, is irrevocable).

 

5.3. [Reserved].

 

5.4. Insurance.
Until the First Lien Obligations Payment Date has occurred, the First Lien Agents will have the sole and exclusive right (i) to
be named as additional insured and loss payee under any insurance policies maintained from time to time by any Loan Party (except
that the Second Lien Agent shall have the right to be named as additional insured and loss payee so long as its second lien status
is identified in a manner satisfactory to the First Lien Agents); (ii) to adjust or settle any insurance policy or claim covering
the Common Collateral in the event of any loss thereunder and (iii) to approve any award granted in any condemnation or similar
proceeding affecting the Common Collateral. All insurance proceeds not released to and utilized by any Loan Party pursuant to the
First Lien Documents and the Second Lien Documents for restoration, replacement or reinvestment in accordance with the applicable
terms of the First Lien Documents will be applied in the order provided herein.

 

SECTION
6. Insolvency Proceedings.

 

6.1. [Reserved]

 

    Exhibit B-18

     

    

 

6.2. Filing of Motions.
Until the First Lien Obligations Payment Date has occurred, the Second Lien Agent agrees on behalf of itself and the other Second
Lien Secured Parties that no Second Lien Secured Party shall, in or in connection with any Insolvency Proceeding, file any pleadings
or motions, take any position at any hearing or proceeding of any nature, or otherwise take any action whatsoever, in each case
that (a) violates, or is prohibited by, this Section 6 (or, in the absence of an Insolvency Proceeding, otherwise would violate
or be prohibited by this Agreement), (b) asserts any right, benefit or privilege that arises in favor of the Second Lien Agent
or Second Lien Secured Parties, in whole or in part, as a result of their Lien or interest in the Common Collateral to the extent
in contravention of the terms of this Agreement, or (c) challenges the amount, validity, priority, enforceability or voidability
of any Liens or claims held by either First Lien Agent or any other First Lien Secured Party, or the extent to which the First
Lien Obligations (other than the Excess First Lien Obligations) constitute secured claims under Section 506(a) of the Bankruptcy
Code or otherwise; provided that the Second Lien Agent may take and maintain any Permitted Actions.

 

6.3. Financing Matters.
If any Loan Party becomes subject to any Insolvency Proceeding, and if the First Lien Agents desire to consent (or not object)
to the use of cash collateral under the Bankruptcy Code or to provide financing to any Loan Party under the Bankruptcy Code or
to consent (or not object) to the provision of such financing to any Loan Party by any third party (any such financing, “DIP
Financing”), then the Second Lien Agent agrees, subject to the DIP Conditions, on behalf of itself and the other Second
Lien Secured Parties, that each Second Lien Secured Party (a) will be deemed to have consented to, will raise no objection to,
nor support any other Person objecting to, the use of such cash collateral or to such DIP Financing, (b) will not request or accept
adequate protection or any other relief in connection with the use of such cash collateral or such DIP Financing, except as set
forth in paragraph 6.5 below, (c) will subordinate (and will be deemed hereunder to have subordinated) their Liens (i) to such
DIP Financing on the same terms as the Liens securing the First Lien Obligations are subordinated thereto (and such subordination
will not alter in any manner the terms of this Agreement), (ii) to any adequate protection provided to the First Lien Secured Parties
in connection therewith and (iii) to any reasonable and customary “carve-out” agreed to by the First Lien Agents, and
(d) agrees that notice received three (3) business days prior to the filing of the motion seeking entry of an order approving such
usage of cash collateral or approving such financing shall be adequate notice. If any Loan Party becomes subject to any Insolvency
Proceeding and the First Lien Secured Parties provide a DIP Financing that satisfies the DIP Conditions and this Section 6.3, the
Second Lien Agent agrees, on behalf of itself and the other Second Lien Secured Parties, that none of the Second Lien Secured Parties
shall provide DIP Financing to any Loan Party secured by Liens equal or senior in priority to the Liens securing any First Lien
Obligations (other than the Excess First Lien Obligations) or the Liens securing such DIP Financing provided by the First Lien
Secured Parties or that affords the lenders under any DIP Financing provided to any Loan Party by any Second Lien Secured Party
a claim that is equal or senior to any adequate protection claims of the First Lien Secured Parties in respect of their interests
in the Common Collateral, without the prior written consent of the First Lien Agents. Notwithstanding anything herein to the contrary,
the Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, solely in their capacity as unsecured creditors
and not as secured creditors of any Loan Party, may raise any objections to any use, sale, or lease of “cash collateral”,
or DIP Financing that could be raised by any unsecured creditor of the Loan Parties.

 

6.4. Relief From
the Automatic Stay. Until the First Lien Obligations Payment Date, the Second Lien Agent agrees, on behalf of itself and the
other Second Lien Secured Parties, that none of them will, without the prior written consent of the First Lien Agents, (a) seek
relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in
each case in respect of any Common Collateral, or (b) oppose any request by either First Lien Agent or the other First Lien Secured
Parties to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any Common Collateral;
provided that the Second Lien Agent may seek relief from the automatic stay or any other stay in any Insolvency Proceeding
in respect of the Common Collateral if and to the extent the First Lien Agents have obtained relief from or modification of such
stay in respect of the Common Collateral, but may not thereafter take or pursue any Enforcement Action with respect to any applicable
Common Collateral to which such relief or modification is applicable, except in accordance with the other applicable terms of this
Agreement.

 

    Exhibit B-19

     

    

 

6.5. Adequate Protection.
The Second Lien Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that none of them shall object, contest,
or support any other Person objecting to or contesting, (a) any request by either First Lien Agent or the other First Lien Secured
Parties for adequate protection or any adequate protection provided to either First Lien Agent or the other First Lien Secured
Parties or (b) any objection by either First Lien Agent or any other First Lien Secured Parties to any motion, relief, action or
proceeding based on a claim of a lack of adequate protection or (c) the payment of interest, fees, expenses or other amounts to
either First Lien Agent or any other First Lien Secured Party on account of the First Lien Obligations (other than Excess First
Lien Obligations) under Section 506(b) of the Bankruptcy Code or otherwise. Notwithstanding anything contained in this Section
and in Section 6.3(b), Second Lien Secured Parties may seek or accept adequate protection consisting of (x) a replacement Lien
on the Common Collateral, subordinated to the Liens securing the First Lien Obligations and such DIP Financing on the same basis
as the other Liens securing the Second Lien Obligations are so subordinated to the First Lien Obligations under this Agreement,
(y) superpriority claims junior in all respects to the superpriority claims granted to the First Lien Secured Parties and (z) subject
to the right of the First Lien Secured Parties to object thereto, the payment of post-petition interest at the pre-default rate,
fees and expenses (provided, in the case of this clause (z), that the First Lien Secured Parties have been granted adequate protection
in the form of post-petition interest at a rate no lower than the pre-default rate and the payment of their fees and expenses).
In the event the Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, seeks or accepts adequate protection
in accordance with the above provisions of this Section 6.5 and such adequate protection is granted in the form of additional collateral,
then the Second Lien Agent, on behalf of itself or any of the Second Lien Secured Parties, agrees that each First Lien Agent shall
also be granted a senior Lien on such additional collateral as security for the First Lien Obligations and any such DIP Financing
and that any Lien on such additional collateral securing the Second Lien Obligations shall be subordinated to the Liens on such
collateral securing the First Lien Obligations and any such DIP Financing and any other Liens granted to the First Lien Secured
Parties as adequate protection, with such subordination to be on the same terms that the other Liens securing the Second Lien Obligations
are subordinated to the Liens securing the First Lien Obligations under this Agreement. The Second Lien Agent, on behalf of itself
and the other Second Lien Secured Parties, agrees that except as expressly set forth in this Section, none of them shall seek or
accept adequate protection without the prior written consent of the First Lien Agents.

 

6.6. Avoidance Issues.
If any First Lien Secured Party is required in any Insolvency Proceeding or otherwise to disgorge, turn over or otherwise pay or
relinquish to a trustee, a receiver, or the estate of any Loan Party, because such amount was avoided or ordered to be paid, disgorged
or relinquished for any reason, including, without limitation because it was found to be a fraudulent or preferential transfer
or because the Liens securing the First Lien Obligations are unperfected or otherwise voided, avoided, invalidated or lapsed, any
amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise,
then, subject to the proviso below, the First Lien Obligations shall be reinstated to the extent of such Recovery and deemed to
be outstanding as if such payment had not occurred and the First Lien Obligations Payment Date shall be deemed not to have occurred.
If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect,
and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto
from the date of reinstatement. The Second Lien Secured Parties agree that none of them shall be entitled to benefit from any Recovery,
solely to the extent arising in respect of or on account of each First Lien Secured Party's interest in the Second Lien Collateral
or on account of such First Lien Secured Party's "secured claim" against any Loan Party within the meaning of section
506 of the Bankruptcy Code, to any extent beyond what they would have been entitled to had such Recovery not occurred (solely to
the extent arising in respect of or on account of such Second Lien Secured Party's interest in the Second Lien Collateral or an
account of such Second Lien Secured Party's "secured claim" against any Loan Party within the meaning of section 506
of the Bankruptcy)(in each case, a "Secured Claim Recovery"), it being understood and agreed that the benefit of such
Secured Claim Recovery otherwise allocable to them shall instead be allocated and turned over for application in accordance with
the priorities set forth in this Agreement; provided, that notwithstanding anything to the contrary contained herein, (i)
any amount received by the Second Lien Secured Parties in respect of a Secured Claim Recovery to be so turned over shall be limited
to the amount in excess of the amount they would have received on account of its interest in the Second Lien Collateral or pursuant
to its secured claim under section 506 of the Bankruptcy Code had such Secured Claim Recovery not occurred and (ii) except for
the amounts specified in the foregoing clause (i) in respect of a Secured Claim Recovery, the Second Lien Secured Parties shall
otherwise be entitled to receive and retain any amounts allocable to them in respect of any other Recovery.

 

    Exhibit B-20

     

    

 

6.7. Asset
Dispositions in an Insolvency Proceeding. In an Insolvency Proceeding, neither the Second Lien Agent nor any other Second
Lien Secured Party, in its capacity as a secured creditor only, shall oppose any sale or disposition of any assets of any
Loan Party that is consented to by the First Lien Secured Parties, and will be deemed to have consented under Section 363(f)
of the Bankruptcy Code (and otherwise) to any sale consented to by the First Lien Secured Parties and to have released their
Liens on such assets so long as the First Lien Secured Parties have released their Liens on such assets and the net cash
proceeds from the sale or disposition are applied in accordance with Section 5.1; provided, further, that
notwithstanding the foregoing or any other provision herein to the contrary, the Second Lien Agent and each other Second Lien
Secured Party, solely in its capacity as an unsecured creditor and not as a secured creditor of any Loan Party, shall be
entitled to oppose any sale or disposition of any assets of any Loan Party under Section 363 of the Bankruptcy Code without
the consent or approval of the First Lien Agents.

 

6.8. Plans of Reorganization;
Reorganization Securities. Prior to the First Lien Obligations Payment Date, no Second Lien Secured Party shall, without the
consent of the First Lien Representative, directly or indirectly propose, support or vote in favor of any a plan of reorganization
or similar dispositive restructuring plan in connection with an Insolvency Proceeding that is in contravention of the provisions
of this Agreement; provided that nothing in this Section 6.8 shall restrict any Second Lien Secured Party from voting any unsecured
claim held by such Second Lien Secured Party in favor of any plan of reorganization or similar dispositive restructuring plan in
connection with an Insolvency Proceeding. Nothing in this Agreement prohibits or limits the right of the Second Lien Secured Parties
to receive and retain (a) any debt or equity securities that are issued by a reorganized debtor pursuant to a plan of reorganization
or similar dispositive restructuring plan in connection with an Insolvency Proceeding, provided that if any debt securities are
distributed pursuant to a plan of reorganization or similar dispositive restructuring plan in connection with an Insolvency Proceeding
both on account of First Lien Obligations and on account of Second Lien Obligations and both (i) such debt obligations are secured
by Liens and (ii) such Liens are upon the same property, then, as between the First Lien Secured Parties and the Second Lien Secured
Parties, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will
apply with like effect to the Liens securing such debt obligations or (b) any distribution received by such Second Lien Secured
Party pursuant to a plan of reorganization or similar dispositive restructuring plan in connection with an Insolvency Proceeding
in respect of any claim classified under such plan as an unsecured claim in accordance with section 506(a)(1) of the Bankruptcy
Code.

 

6.9. Separate Grants
of Security and Separate Classification. Each Secured Party acknowledges and agrees that (a) the grants of Liens pursuant to
the First Lien Security Documents and the Second Lien Security Documents constitute separate and distinct grants of Liens and (b)
because of, among other things, their differing rights in the Common Collateral, the First Lien Obligations and the Second Lien
Obligations are fundamentally different from each other and must be separately classified in any plan of reorganization proposed
or adopted in an Insolvency Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding
sentence, if it is held that the claims of the First Lien Secured Parties and Second Lien Secured Parties in respect of the Common
Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then the Second
Lien Secured Parties hereby acknowledge and agree that all distributions shall be made as if there were separate classes of senior
and junior secured claims against the Loan Parties in respect of the Common Collateral, with the effect being that, to the extent
that the aggregate value of the Common Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien Secured
Parties), the First Lien Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of
principal, pre-petition interest and other claims, all amounts owing in respect of Post-Petition Amounts before any distribution
is made in respect of the claims held by the Second Lien Secured Parties. The Second Lien Secured Parties hereby acknowledge and
agree to turn over to the First Lien Secured Parties amounts otherwise received or receivable by them to the extent necessary to
effectuate the intent of the preceding sentence, even if such turnover has the effect of reducing the claim or recovery of the
Second Lien Secured Parties.

 

    Exhibit B-21

     

    

 

6.10. No Waivers
of Rights of First Lien Secured Parties. Subject to Section 3.1(b), nothing contained herein shall prohibit or in any way limit
either First Lien Agent or any other First Lien Secured Party from objecting in any Insolvency Proceeding or otherwise to any action
taken by any Second Lien Secured Party not expressly permitted hereunder, including the seeking by any Second Lien Secured Party
of adequate protection (except as provided in Section 6.5).

 

6.11. Effectiveness
in Insolvency Proceedings. This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement”
under Section 510(a) of the Bankruptcy Code, shall be effective before, during and after the commencement of an Insolvency Proceeding.

 

6.12. Rights as
Unsecured Creditors. In any Insolvency Proceeding, the Second Lien Secured Parties may exercise any rights and remedies that
could be exercised by an unsecured creditor in accordance with the terms of the Second Lien Documents and applicable law, in each
case to the extent not prohibited by the terms of this Agreement.

 

SECTION 7.
Modifications to First Lien Documents or Second Lien Documents.

 

7.1. Restrictions
on First Lien Document Modifications. The First Lien Documents may not be amended, renewed, extended, restated, supplemented
or otherwise modified without the prior written consent of the Second Lien Agent (which consent will not be unreasonably withheld),
so as to:

 

(a) (i) increase the
aggregate amount of the principal portion of the ABL First Lien Obligations to exceed the Maximum ABL First Lien Principal Amount
or (ii) increase the aggregate amount of the principal portion of the Floor Plan First Lien Obligations to exceed the Maximum Floor
Plan First Lien Principal Amount;

 

(b) increase the applicable
margin or similar component of interest rate (including by adding or increasing any interest rate floor) or add or increase any
recurring fees (excluding any one-time fees, whether payable at one time or in multiple installments, payable in connection with
the initial origination or syndication of the First Lien Obligations, any amendment, waiver or similar agreement, any renewal of
existing credit, or any increase, origination or extension of additional credit) or premiums in a manner that would cause the total
yield on all Loans (as defined in either First Lien Credit Agreement on the date hereof, respectively) to exceed by more than 2.00%
of the total yield on such Loans as in effect on the date hereof (excluding increases resulting from the accrual of interest at
the default rate of 3.00%, fluctuations in LIBOR or any other similar rate index, any replacement of LIBOR due to any cessation
thereof, and application of the pricing grid set forth in the Existing ABL First Lien Credit Agreement or the Existing Floor Plan
First Lien Credit Agreement, as applicable, on the date hereof) or increase the default rate by any margin;

 

(c) extend the final
scheduled maturity of the First Lien Obligations by more than 180 days from the final scheduled maturity as in effect on the date
hereof;

 

(d) alter the amortization
schedule for the First Lien Obligations, such that the average life to maturity of the First Lien Obligations is shorter than in
effect as of the date hereof;

 

    Exhibit B-22

     

    

 

(e) add or change any,
covenant, default or event of default under the First Lien Documents in a manner adverse to the Loan Parties, unless the Loan Parties
concurrently offer to enter into a corresponding amendment or modification to the applicable provisions of the Second Lien Documents;

 

(f) add (or make more
restrictive) any prohibition or restriction on payment of the Second Lien Obligations;

 

(g) subordinate the First
Lien Obligations or the Liens of the First Lien Secured Parties on the Common Collateral, except as permitted in Section 6.3 and
except with respect to “Permitted Encumbrances” under either First Lien Credit Agreement (as in effect on the date
hereof);

 

(h) change or amend any
term of the First Lien Documents relating to the assignment of or participation in all or any portion of the First Lien Obligations
to any Loan Party or any of their respective Affiliates (including any amendment or modification of definition of Ineligible Institution
(as defined in the First Lien Credit Agreement as in effect on the date hereof) to remove any Loan Party or any of their respective
Affiliates from such definition) as set forth in each First Lien Credit Agreement (as in effect on the date hereof), respectively;

 

(i) change or amend the
definition of Ineligible Institution (as defined in each First Lien Credit Agreement, respectively, as in effect on the date hereof)
to remove or modify the final proviso of the definition thereof in any way; or

 

(j) impose any limitation
on amendments or modifications of the Second Lien Documents that is more restrictive that the limitations contained herein.

 

7.2. Restrictions
on Second Lien Document Modifications. The Second Lien Documents may not be amended, renewed, extended, restated, supplemented
or otherwise modified without the prior written consent of the First Lien Agents (which consent will not be unreasonably withheld),
so as to:

 

(a) increase the aggregate
amount of the principal portion of the Second Lien Obligations to exceed the Maximum Second Lien Principal Amount;

 

(b) increase the rate
of interest on any of the Second Lien Obligations or add or increase any recurring fees (excluding any one-time fees, whether payable
at one time or in multiple installments, payable in connection with the initial origination or syndication of the Second Lien Obligations,
any amendment, waiver or similar agreement, any renewal of existing credit, or any increase, origination or extension of additional
credit) or premiums that would cause the total yield on the Second Lien Obligations to exceed by more than 4.00% of the total yield
on the Second Lien Obligations as in effect on the date hereof (excluding increases resulting from the accrual of interest at the
default rate of 3.00% or fluctuations in LIBOR or any other similar rate index) or increase the default rate by any margin (other
than prepayment premiums, yield maintenance, make whole or similar fees and premiums, and exit fees, in each case that are payable
in connection with any repayment (other than regularly scheduled principal payments) of the Second Lien Obligations, which shall
not be restricted under this Section 7.2(b));

 

(c) [reserved];

 

(d) shorten the maturity
of all or any portion of the Second Lien Obligations in effect as of the date hereof;

 

(e) require any scheduled
payments or mandatory prepayments of any principal portion of the Second Lien Obligations which are not required under the terms
of the Second Lien Documents in effect as of the date hereof;

 

    Exhibit B-23

     

    

 

(f) add or change any,
covenant, default or event of default under the Second Lien Documents in a manner adverse to the Loan Parties; provided, that Second
Lien Secured Parties shall be permitted to amend, modify or supplement the Second Lien Documents to modify or add covenants, defaults
or other provisions to the extent the corresponding provisions of the First Lien Documents have been amended or modified;

 

(g) add (or make more
restrictive) any prohibition or restriction on payment of any of the First Lien Obligations;

 

(h) subordinate the Second
Lien Obligations or the Liens of the Second Lien Secured Parties on the Common Collateral, except as permitted in Section 6.3 and
except with respect to “Permitted Encumbrances” under the Second Lien Credit Agreement (as in effect on the date hereof);

 

(i) change or amend any
term of the Second Lien Documents relating to the assignment of or participation in all or any portion of the Second Lien Obligations
to any Loan Party or any of their respective Affiliates or to the voting rights of any Loan Party or any of their respective Affiliates
with respect to any portion of the Second Lien Obligations held by any such Person as set forth in the Second Lien Credit Agreement
(as in effect on the date hereof); or

 

(j) impose any limitation
on amendments or modifications of the First Lien Documents that is more restrictive that the limitations contained herein.

 

SECTION 8.
Reliance; Waivers; etc.

 

8.1. Reliance.
The First Lien Documents are deemed to have been executed and delivered, and all extensions of credit thereunder are deemed to
have been made or incurred, in reliance upon this Agreement. The Second Lien Agent, on behalf of it itself and the other Second
Lien Secured Parties, expressly waives all notice of the acceptance of and reliance on this Agreement by the First Lien Secured
Parties. The Second Lien Documents are deemed to have been executed and delivered and all extensions of credit thereunder are deemed
to have been made or incurred, in reliance upon this Agreement. Each First Lien Agent, on behalf of itself and the other First
Lien Secured Parties for which it is First Lien Agent, expressly waives all notices of the acceptance of and reliance on this Agreement
by the Second Lien Agent and the other Second Lien Secured Parties.

 

8.2. No Warranties
or Liability. The Second Lien Agent and the First Lien Agents acknowledge and agree that none of them has made any representation
or warranty with respect to the execution, validity, legality, completeness, collectability or enforceability of any other First
Lien Document or any Second Lien Document. Except as otherwise provided in this Agreement, the Second Lien Agent and the First
Lien Agents will be entitled to manage and supervise their respective extensions of credit to any Loan Party in accordance with
law and their usual practices, modified from time to time as they deem appropriate.

 

8.3. No Waivers.
No right or benefit of any party hereunder shall at any time in any way be prejudiced or impaired by any act or failure to act
on the part of such party or any other party hereto or by any noncompliance by any Loan Party with the terms and conditions of
any of the First Lien Documents or the Second Lien Documents.

 

SECTION 9.
Obligations Unconditional.

 

9.1. First Lien
Obligations Unconditional. All rights and interests of the First Lien Secured Parties hereunder, and all agreements and obligations
of the Second Lien Secured Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in full force and
effect irrespective of:

 

    Exhibit B-24

     

    

 

(a) any lack of validity
or enforceability of any First Lien Document and regardless of whether any of the Liens of the First Lien Agents and First Lien
Secured Parties are not perfected or are voidable for any reason; or

 

(b) any change in the
time, place or manner of payment of, or in any other term of, all or any portion of the First Lien Obligations, or any amendment,
waiver or other modification, whether by course of conduct, in writing or otherwise, including any increase in the amount thereof,
or any refinancing, replacement, refunding or restatement of any First Lien Document, except to the extent expressly prohibited
hereunder;

 

(c) any exchange, release
or lack of perfection of any Lien of any of the First Lien Agents and First Lien Secured Parties on any Common Collateral or any
other asset, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or
any of the First Lien Obligations or any guarantee thereof, except to the extent expressly prohibited hereunder;

 

(d) the commencement
of any Insolvency Proceeding in respect of any Loan Party; or

 

(e) any other circumstances
that otherwise might constitute a defense available to, or a discharge of, any Loan Party in respect of the First Lien Obligations,
or of any of the First Lien Secured Parties or any Loan Party, to the extent applicable, in respect of this Agreement.

 

9.2. Second Lien
Obligations Unconditional. All rights and interests of the Second Lien Secured Parties hereunder, and all agreements and obligations
of the First Lien Secured Parties (and, to the extent applicable, the Loan Parties) hereunder, shall remain in full force and effect
irrespective of:

 

(a) any lack of validity
or enforceability of any Second Lien Document and regardless of whether the Liens of the Second Lien Agent and Second Lien Secured
Parties are not perfected or are voidable for any reason;

 

(b) any change in the
time, place or manner of payment of, or in any other term of, all or any portion of the Second Lien Obligations, or any amendment,
waiver or other modification, whether by course of conduct, in writing or otherwise, including any increase in the amount thereof,
or any refinancing, replacement, refunding or restatement of any Second Lien Document, except to the extent expressly prohibited
hereunder;

 

(c) any exchange, release
or lack of perfection of any Lien of the Second Lien Agent and Second Lien Secured Parties on any Common Collateral or any other
asset, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of
the Second Lien Obligations or any guarantee thereof, except to the extent expressly prohibited hereunder; or

 

(d) the commencement
of any Insolvency Proceeding in respect of any Loan Party; or

 

(e) any other circumstances
that otherwise might constitute a defense available to, or a discharge of, any Loan Party in respect of the Second Lien Obligations,
or of any of the Second Lien Secured Parties or any Loan Party, to the extent applicable, in respect of this Agreement.

 

    Exhibit B-25

     

    

 

SECTION 10.
Miscellaneous.

 

10.1. Rights of
Subrogation. The Second Lien Agent, for and on behalf of itself and the Second Lien Secured Parties, agrees that no payment
to either First Lien Agent or any First Lien Secured Party pursuant to the provisions of this Agreement shall entitle the Second
Lien Agent or any Second Lien Secured Party to exercise any rights of subrogation in respect thereof until the First Lien Obligations
Payment Date. Following the First Lien Obligations Payment Date, the Second Lien Secured Parties shall be subrogated to the rights
of the First Lien Secured Parties to the extent that payments and distributions otherwise payable to the Second Lien Secured Parties
have been applied to the First Lien Obligations in accordance with the provisions of this Agreement, and each First Lien Agent
agrees to execute such documents, agreements, and instruments as the Second Lien Agent or any Second Lien Secured Party may reasonably
request to evidence the transfer by subrogation to any such Person of an interest in the First Lien Obligations resulting from
payments to either First Lien Agent by such Person, so long as all costs and expenses (including all reasonable legal fees and
disbursements) incurred in connection therewith by each First Lien Agent are paid by such Person upon request for payment thereof.

 

10.2. Further Assurances.
Each of the Second Lien Agent and the First Lien Agents will, at their own expense and at any time and from time to time, promptly
execute and deliver all further instruments and documents, and take all further action, that may be necessary or desirable, or
that the other party may reasonably request, in order to protect any right or interest granted or purported to be granted hereby
or to enable the First Lien Agents or the Second Lien Agent to exercise and enforce its rights and remedies hereunder; provided,
however, that no party shall be required to pay over any payment or distribution, execute any instruments or documents,
or take any other action referred to in this Section 10.2, to the extent that such action would contravene any law, order or other
legal requirement or any of the terms or provisions of this Agreement, and in the event of a controversy or dispute, such party
may interplead any payment or distribution in any court of competent jurisdiction, without further responsibility in respect of
such payment or distribution under this Section 10.2.

 

10.3. Conflicts.
In the event of any conflict between the provisions of this Agreement and the provisions of any First Lien Document or any Second
Lien Document, the provisions of this Agreement shall govern; provided, however, in the event of any conflict between
the provisions of this Agreement and the intercreditor agreement dated as of the date hereof (as amended, restated or otherwise
modified from time to time. the “First Lien Intercreditor Agreement”), among the First Lien Secured Parties,
the terms and conditions of the First Lien Intercreditor Agreement shall control among the First Lien Secured Parties as to the
relative rights of the First Lien Secured Parties in respect of the Common Collateral.

 

10.4. Continuing
Nature of Provisions. Subject to Section 6.6, this Agreement shall continue to be effective, and shall not be revocable by
any party hereto, until the First Lien Obligations Payment Date shall have occurred; provided, that Section 4.6(h) and Section
5.1 shall continue in effect with respect to the rights and obligations of the parties with respect to Excess First Lien Obligations.
This is a continuing agreement and the First Lien Secured Parties and the Second Lien Secured Parties may continue, at any time
and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness
to, or for the benefit of, any Borrower or any other Loan Party on the faith hereof.

 

10.5. Amendments;
Waivers. No amendment or modification of any of the provisions of this Agreement shall be effective unless the same shall be
in writing and signed by the First Lien Agents and the Second Lien Agent.

 

10.6. Information
Concerning Financial Condition of the Borrowers and the other Loan Parties. Each of the Second Lien Secured Parties and the
First Lien Secured Parties hereby assumes responsibility for keeping itself informed of the financial condition of the Borrowers
and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations
or the Second Lien Obligations. The Second Lien Secured Parties and the First Lien Secured Parties hereby agree that no party shall
have any duty to advise any other party of information known to it regarding such condition or any such circumstances. In the event
the Second Lien Agent or either First Lien Agent, in its sole discretion, undertakes at any time or from time to time to provide
any information to any other party to this Agreement, it shall be under no obligation (a) to provide any such information to such
other party or any other party on any subsequent occasion, (b) to undertake any investigation not a part of its regular business
routine, or (c) to disclose any other information.

 

    Exhibit B-26

     

    

 

10.7.
Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York, except
as otherwise required by mandatory provisions of law and except to the extent that remedies provided by the laws of any jurisdiction
other than the State of New York are governed by the laws of such jurisdiction.

 

10.8. Submission
to Jurisdiction.

 

(a) Each First Lien Secured
Party, each Second Lien Secured Party and each Loan Party hereby irrevocably and unconditionally submits, for itself and its property,
to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States
District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each such party hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York
State or, to the extent permitted by law, in such Federal court. Each such party agrees that a final judgment in any such action
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. Nothing in this Agreement shall affect any right that the any First Lien Secured Party or Second Lien Secured Party may
otherwise have to bring any action or proceeding against any Loan Party or its properties in the courts of any jurisdiction.

 

(b) Each First Lien Secured
Party, each Second Lien Secured Party and each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so (i) any objection it may now or hereafter have to the laying of venue of any suit, action
or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (a) of this Section and (ii) the
defense of an inconvenient forum to the maintenance of such action or proceeding.

 

(c) Each party to this
Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.9. Nothing in this Agreement
will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

 

10.9. Notices.
Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall
be in writing and may be personally served, telecopied, or sent by overnight express courier service or United States mail and
shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or five days after
deposit in the United States mail (certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses
of the parties hereto (until notice of a change thereof is delivered as provided in this Section) shall be as set forth below each
party’s name on the signature pages hereof, or, as to each party, at such other address as may be designated by such party
in a written notice to all of the other parties.

 

10.10. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and each of
the First Lien Secured Parties and Second Lien Secured Parties and their respective successors and assigns, and nothing herein
is intended, or shall be construed to give, any other Person any right, remedy or claim under, to or in respect of this Agreement
or any Common Collateral.

 

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

 

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

 

    Exhibit B-27

     

    

 

10.13. Agents.
The ABL First Lien Agent has executed this Agreement as directed under and in accordance with the Existing ABL First Lien Credit
Agreement and will perform this Agreement solely in its capacity as ABL First Lien Agent and not individually. In performing under
this Agreement, the ABL First Lien Agent shall have all rights, protections, immunities and indemnities granted it under the Existing
ABL First Lien Credit Agreement. Subject to the terms of the Existing ABL First Lien Credit Agreement, the ABL First Lien Agent
shall have no obligation to perform or exercise any discretionary act. The Floor Plan First Lien Agent has executed this Agreement
as directed under and in accordance with the Existing Floor Plan First Lien Credit Agreement and will perform this Agreement solely
in its capacity as Floor Plan First Lien Agent and not individually. In performing under this Agreement, the Floor Plan First Lien
Agent shall have all rights, protections, immunities and indemnities granted it under the Existing Floor Plan First Lien Credit
Agreement. Subject to the terms of the Existing Floor Plan First Lien Credit Agreement, the Floor Plan First Lien Agent shall have
no obligation to perform or exercise any discretionary act. The Second Lien Agent has executed this Agreement as directed under
and in accordance with the Existing Second Lien Credit Agreement and will perform this Agreement solely in its capacity as Second
Lien Agent and not individually. In performing under this Agreement, the Second Lien Agent shall have all rights, protections,
immunities and indemnities granted it under the Existing Second Lien Credit Agreement. Subject to the terms of the Existing Second
Lien Credit Agreement, the Second Lien Agent shall have no obligation to perform or exercise any discretionary act.

 

10.14. Counterparts;
Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of
an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed
counterpart of this Agreement. This Agreement shall become effective when it shall have been executed by each party hereto.

 

10.15. WAIVER OF
JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

10.16. Additional
Loan Parties. Each Person that becomes a Loan Party after the date hereof shall be deemed to have acknowledged this Agreement
in the manner set forth on Annex I attached hereto upon execution and delivery by such Person of a Joinder Agreement in accordance
with the requirements of each First Lien Credit Agreement and the Second Lien Credit Agreement.

 

10.17. No Third
Party Beneficiaries. The provisions of this Agreement are solely for the purpose of defining the relative rights of the First
Lien Secured Parties, the Second Lien Secured Parties and their respective successors and permitted assigns, and this Agreement
shall not be deemed to create any rights or priorities in favor of any other Person, including, without limitation, any Loan Party,
and there are no other parties or Persons whatsoever including, without limitation, the Loan Parties, who are intended to be benefited
in any manner whatsoever by this Agreement.

 

[Remainder of page left intentionally
blank]

 

    Exhibit B-28

     

    

 

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

 

	 	JPMORGAN CHASE BANK, N.A., as ABL First Lien Agent for and on behalf of the ABL First Lien Secured Parties
	 	 	 
	 	By:	 
	 	Name: 	Michael Byrne
	 	Title:  	Authorized Officer

 

	 	Address for Notices:
	 	JPMorgan Chase Bank, N.A.
	 	Loan and Agency Services
	 	10 South Dearborn, 7th Floor
	 	Chicago, Illinois 60603, Mail Code IL1-0010
	 	Attention: Alta Equipment Group
	 	Facsimile No: (312) 385-7096

 

Signature Page to Intercreditor Agreement

 

    Exhibit B-29

     

    

	 	JPMORGAN CHASE BANK, N.A., as Floor Plan First Lien Agent for and on behalf of the Floor Plan First Lien Secured Parties
	 	 	 
	 	By:	    
	 	Name:	 
	 	Title:  	 

 

	 	Address for Notices:
	 	JPMorgan Chase Bank, N.A.
	 	_________________________
	 	___________________________
	 	Attention: Alta Equipment Group
	 	Facsimile No: 

 

Signature Page to Intercreditor Agreement

 

    Exhibit B-30

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION, as Second Lien Agent for and on behalf of the Second Lien Secured Parties
	 	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 

 

	 	Address for Notices: 
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION _________________________
	 	___________________________
	 	Attention: 
	 	Facsimile No: 

 

Signature Page to Intercreditor Agreement

 

    Exhibit B-31

     

    

 

ACKNOWLEDGEMENT

 

The undersigned hereby acknowledge and
consent to the foregoing Intercreditor Agreement, dated as of February 3, 2020 (the “Intercreditor Agreement”)
among JPMORGAN CHASE BANK, N.A., as the ABL First Lien Agent, JPMORGAN CHASE BANK, N.A., as the Floor Plan First Lien Agent, and
U.S. BANK NATIONAL ASSOCIATION, as the Second Lien Agent. Unless otherwise defined in this Acknowledgement, terms defined in the
Intercreditor Agreement have the same meanings when used in this Acknowledgement.

 

Each Loan Party hereby acknowledges that
it has received a copy of the foregoing Intercreditor Agreement and consents thereto, agrees to recognize all rights granted thereby
to the ABL First Lien Secured Parties, the Floor Plan First Lien Secured Parties and the Second Lien Secured Parties, and will
not do any act or perform any obligation which is not in accordance with the agreements set forth therein. Each Loan Party agrees
that the Intercreditor Agreement may be amended by the ABL First Lien Secured Parties, the Floor Plan First Lien Secured Parties
and the Second Lien Secured Parties, without notice to, or the consent of any such Loan Party or any other Person; provided,
however, that each Loan Party agrees to be bound by the Intercreditor Agreement only as in effect on the date hereof and,
to the extent that such Loan Party has been notified of the terms of any amendment, as so amended.

 

[Remainder of page left intentionally
blank]

 

Acknowledgment to Intercreditor Agreement

 

    Exhibit B-32

     

    

	 	B. RILEY PRINCIPAL MERGER CORP.,  to be re-named
	 	ALTA EQUIPMENT GROUP INC.
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:  	 
	 	 	 
	 	ALTA EQUIPMENT HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:  	 
	 	 	 
	 	ALTA ENTERPRISES, LLC
	 	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	ALTA HEAVY EQUIPMENT SERVICES, LLC
	 	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	ALTA CONSTRUCTION EQUIPMENT, L.L.C.
	 	NITCO, LLC
	 	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:  	 
	 	 	of each of the above, on behalf of each of the above

 

	 	Address for Notices:
	 	 
	 	13211 Merriman Rd
	 	Livonia, MI 48150-1826
	 	Attention: President
	 	Facsimile No. 248-449-6701

 

Acknowledgment Page to Intercreditor Agreement

 

    Exhibit B-33

     

    

 

EXHIBIT C TO

NOTE PURCHASE AGREEMENT

 

FORM
OF NOTE

 

THIS NOTE HAS ORIGINAL ISSUE DISCOUNT (“OID”)
FOR THE PURPOSES OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. INFORMATION AS TO THE AMOUNT OF OID, YIELD TO MATURITY, ISSUE
DATE, AND ISSUE PRICE MAY BE OBTAINED BY CONTACTING THE ISSUER'S PRESIDENT AT: alta enterprises,
llc, Merriman Rd, Livonia, Michigan 48150-1826, Attention: President.

 

This
Note has not been and will not be registered under the United States Securities Act OF 1933 (the “Securities Act”)
or with any securities regulatory authority of any state or other jurisdiction of the United States. The holder hereof, by purchasing
or otherwise acquiring this security, acknowledges that this security has not been registered under the Securities Act. The holder
agrees for the benefit of the Issuer, any distributors or dealers and any such persons’ affiliates that this security may
be offered, resold, pledged or otherwise transferred only in compliance with the Securities Act and any applicable state securities
laws and only (1) pursuant to Rule 144 under the Securities Act or (2) pursuant to an exemption from registration under the Securities
Act, and in each case in accordance with any applicable securities laws of the states of the United States and other jurisdictions.
The holder acknowledges that the purpose of the foregoing limitation is, in part, to ensure that the issuer is not required to
register under the Securities Act.

 

NOTE

	$__________	_______________, 20 ___

 

FOR VALUE RECEIVED,
each of the undersigned, ALTA EQUIPMENT GROUP INC. (formerly known as B. Riley Principal Merger Corp.), a Delaware corporation,
ALTA ENTERPRISES, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC, a Michigan limited liability
company, ALTA HEAVY EQUIPMENT SERVICES, LLC, a Michigan limited liability company, ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC, a Michigan
limited liability company, ALTA CONSTRUCTION EQUIPMENT, L.L.C., a Michigan limited liability company, ALTA INDUSTRIAL EQUIPMENT
COMPANY, L.L.C., a Michigan limited liability company, Alta Equipment Holdings, Inc.,
a Michigan corporation, NITCO, LLC, a Michigan limited liability company, and Alta Construction
Equipment Florida, LLC, a Michigan limited liability company (each an “Issuer” and, collectively, the
“Issuers”), hereby promises to pay to the order of [____________] (“Purchaser”) the
principal amount of $[___________] or so much of such principal amount as may be outstanding hereunder.

 

This Note (this “Note”)
is the one of the Notes referred to in the Note Purchase Agreement, dated as of February [__], 2020 (as amended, restated, supplemented
or otherwise modified from time to time, the “Note Purchase Agreement”), by and among the Issuers, the Purchasers
party thereto from time to time and U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent. Capitalized terms used in this Note
are defined in the Note Purchase Agreement, unless otherwise expressly stated herein. This Note is entitled to the benefits of
the Note Purchase Agreement and is subject to all of the agreements, terms and conditions contained therein, all of which are incorporated
herein by this reference. This Note may be prepaid, in whole or in part, in accordance with the terms and conditions set forth
in the Note Purchase Agreement.

 

    Exhibit C – Page 1

     

    

 

The outstanding principal
balance of this Note is due and payable as provided in Article II of the Note Purchase Agreement. All payments by the Issuers
of principal, fees and other Obligations shall be made in accordance with Section 2.17(a) of the Note Purchase Agreement.

 

This Note shall bear
interest on the unpaid principal amount hereof from the date issued through repayment (whether by acceleration or otherwise) as
provided in Section 2.12 of the Note Purchase Agreement. In addition, upon the occurrence and during the continuance of an Event
of Default this Note shall bear default interest pursuant to the terms of Section 2.12(b) of the Note Purchase Agreement. In no
event, however, will interest exceed the Highest Lawful Rate.

 

If any Event of Default
(other than an Event of Default with respect to any Issuer described in clause (h) or (i) of Article VII of the Note Purchase Agreement)
shall occur and continue under the Note Purchase Agreement or any other Notes Document, then this Note may, as provided in the
Note Purchase Agreement, be declared to be immediately due and payable, without notice; provided, however, that upon
the occurrence of any Event of Default with respect to the Issuers described in clause (h) or (i) of Article VII of the Note Purchase
Agreement, this Note shall automatically become due and payable without any further act by the Administrative Agent, any Purchaser
or any other Person.

 

Any transfer, sale
or assignment of this Note is subject to the terms, conditions and restrictions of Section 10.04 of the Note Purchase Agreement.

 

THIS NOTE 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 WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW) THEREOF.

 

The undersigned expressly
waives any presentment, demand, protest, notice of default, notice of intention to accelerate, notice of acceleration or notice
of any other kind except as expressly provided in the Note Purchase Agreement.

 

[Remainder of page intentionally left
blank]

 

    Exhibit C – Page 2

     

    

 

IN WITNESS WHEREOF,
each Issuer has caused this Note to be duly executed and delivered by its officer thereunto duly authorized as of the date first
written above.

 

	 	ALTA ENTERPRISES, LLC
	 	ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC
	 	ALTA INDUSTRIAL EQUIPMENT MICHIGAN, LLC
	 	ALTA HEAVY EQUIPMENT SERVICES, LLC
	 	NITCO, LLC
	 	ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C.
	 	ALTA CONSTRUCTION EQUIPMENT, L.L.C.
	 	ALTA CONSTRUCTION EQUIPMENT FLORIDA, LLC
	 	 	 
	 	By:	 
	 	Name: 	Ryan Greenawalt
	 	Title:	Manager of each of the above, on behalf of each of the above
	 	 	 
	 	ALTA EQUIPMENT HOLDINGS, Inc.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	ALTA EQUIPMENT GROUP INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    Exhibit C – Page 3

     

    

 

EXHIBIT D

TO NOTE PURCHASE AGREEMENT

 

FORM OF
FUNDING NOTICE 

 

February
[_], 2020

 

Reference is made to
the Note Purchase Agreement, dated as of February [__], 2020 (as amended, restated, replaced, supplemented or otherwise modified
from time to time, the “Note Purchase Agreement”; all capitalized terms used in this agreement and not otherwise
defined herein shall have the meanings set forth in the Note Purchase Agreement), by and among B. RILEY PRINCIPAL MERGER CORP.
(to be renamed Alta Equipment Group, Inc.), a Delaware corporation (as “Issuer Representative”),
ALTA ENTERPRISES, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT ILLINOIS, LLC, a Michigan
limited liability company, ALTA HEAVY EQUIPMENT SERVICES, LLC, a Michigan limited liability company, ALTA INDUSTRIAL
EQUIPMENT MICHIGAN, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT, L.L.C., a Michigan limited
liability company, ALTA INDUSTRIAL EQUIPMENT COMPANY, L.L.C., a Michigan limited liability company, ALTA EQUIPMENT HOLDINGS,
INC., a Michigan corporation, NITCO, LLC, a Michigan limited liability company, ALTA CONSTRUCTION EQUIPMENT FLORIDA,
LLC, a Michigan limited liability company, (and collectively with Issuer Representative, the “Issuers”),
the other Notes Parties from time to time party thereto, the Purchasers from time to time party thereto, and the Administrative
Agent party thereto.

 

Pursuant to Section
4.20 of the Note Purchase Agreement, Issuer Representative hereby notifies the Administrative Agent and the Purchasers, on behalf
of Issuers, of its request that Purchasers purchase the Notes in an aggregate amount equal to $[155,000,000/170,000,000] in accordance
with the applicable terms and conditions of the Note Purchase Agreement.

 

Issuer Representative
hereby authorizes and directs the Administrative Agent and the Purchasers, on behalf of Issuers, to disburse the proceeds of the
Notes to the account number[s] in the amount[s] specified on Annex A hereto. Issuer Representative hereby certifies to the Administrative
Agent and Purchasers on behalf of Issuers that:

 

		i.	as of the date hereof, the representations and warranties contained in each of the Notes Documents
are true and correct in all respects on and as of such date to the same extent as though made on and as of such date, except to
the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties
are true and correct in all respects on and as of such earlier date;

 

		ii.	since December 31, 2019, no Material Adverse Effect has occurred and no condition exists which
has or could be reasonably expected to have a Material Adverse Effect;

 

		iii.	after giving pro forma effect to the Notes issued on the Effective Date and all other amounts to
be paid on the Effective Date, the satisfaction of all closing conditions under Article IV of the Note Purchase Agreement and the
completion of all other Transactions to be completed on the Effective Date, all financial covenants in Section 6.13 of the Note
Purchase Agreement are complied with on a pro forma basis; and

 

    Exhibit D – Page 1

     

    

 

		iv.	as of the date hereof, no event has occurred and is continuing or would result from the issuing
of the Notes contemplated hereby that would constitute a Default.

 

[Signature Page Follows]

 

    Exhibit D – Page 2

     

    

 

	 	B. RILEY PRINCIPAL MERGER CORP., 
	 	as Issuer Representative
	 	 	 
	 	By:	  
	 	Name: 	 
	 	Title:	 

 

    Exhibit D – Page 3

     

    

 

Annex A to Funding Notice

 

See Attached

 

    Exhibit D – Page 4

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