Document:

Exhibit 10.1

        
          

            EXECUTION VERSION

          

           

        AMENDMENT NO. 3

        TO 

           

        FIRST LIEN TERM LOAN CREDIT AGREEMENT

         

        AMENDMENT NO. 3, dated as
            of March 11, 2021 (this “Amendment”), by and among Tronox Finance LLC, a Delaware limited liability company (the “Borrower”),

            Tronox Holdings plc, a public limited company incorporated under the laws of England and Wales and having company number 11653089 (“Holdings”), each of the other Guarantors party
            hereto, each Existing Term Lender (as defined below) party hereto, each New Term Lender (as defined below) party hereto, each revolving lender party hereto (each, a “Revolving Lender”),

            each issuing bank party hereto (each, an “Issuing Bank”), Bank of America, N.A., as administrative agent and collateral agent (the “Existing

                Administrative Agent”), and HSBC Bank USA, National Association (“HSBC”) as new administrative agent and collateral agent (the “New Administrative Agent”, and together with the Existing Administrative Agent, the “Agents”).

         

        WHEREAS, reference is hereby made to the First Lien Term Loan Credit Agreement, dated as of September 22, 2017 (as amended by that certain
          Amendment No. 1 and Waiver to First Lien Term Loan Credit Agreement, dated as of February 26, 2019, as further amended by that certain Amendment No. 2 to First Lien Term Loan Credit Agreement, dated as of March 22, 2019, and as further amended,
          supplemented or restated immediately prior to the effectiveness of this Amendment, the “Existing Credit Agreement” and, as amended by this Amendment and as may be further amended,
          restated, amended and restated, supplemented or otherwise modified from time to time after the date hereof, the “Credit Agreement”), by and among Tronox Limited (ACN 153 348 111), an
          Australian public limited company incorporated in the Commonwealth of Australia, the Borrower, Tronox Blocked Borrower LLC, a Delaware limited liability company, the Lenders from time to time party thereto and the Existing Administrative Agent. 
          Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Existing Credit Agreement. The Dollar Term Loans issued under the Existing Credit Agreement shall be referred to herein as the “Existing Term Loans”;

         

        WHEREAS, immediately prior to the effectiveness of this Amendment, the Borrower desires to (a) prepay an aggregate principal amount of Existing
          Term Loans in an amount equal to $312,914,062.50 (the “Prepayment”), such that after giving effect to the Prepayment, the aggregate outstanding principal amount of Existing Term Loans
          outstanding under the Existing Credit Agreement is equal to $1,300,000,000 and (b) pay all accrued and unpaid interest on the Existing Term Loans (the “Interest Payment”), which as of
          the date hereof is an amount equal to $5,715,744.33;

         

        WHEREAS, the Borrower has requested (a) a new class of term loans to be established under the Existing Credit Agreement (the “Refinancing Term Loans”, the commitments in respect of such Refinancing Term Loans, the “Refinancing Term Commitments”) in an
          aggregate principal amount of $1,300,000,000 which will be available on the Amendment No. 3 Effective Date (as defined below) to refinance the Existing Term Loans outstanding in the same amount under the Existing Credit Agreement immediately
          prior to effectiveness of this Amendment, but after giving effect to the Prepayment, (b) a new class of revolving commitments to be established under the Existing Credit Agreement in the amount of $350,000,000 (the “Revolving Commitments”) pursuant to Section 9.02(b) of the Credit Agreement, and (c) certain additional amendments to the Existing Credit Agreement
          as set forth herein;

         

        
          
            

        

        WHEREAS, each Lender holding Existing Term Loans under the Existing Credit Agreement immediately prior to effectiveness of this Amendment, but
          after giving effect to the Prepayment and the Interest Payment (each, an “Existing Term Lender”) executing and delivering a notice of participation in the Refinancing Term Loans in the
          form attached as Exhibit A hereto (a “Refinancing Participation Notice”) and electing the cashless settlement option therein
          (each such Lender in such capacity and with respect to the Existing Term Loans so elected, a “Converting Lender” and, together with each other Person executing and delivering a
          Refinancing Participation Notice or otherwise providing a Refinancing Term Commitment and any permitted assignees thereof, the “Participating Lenders”) shall, notwithstanding anything to
          the contrary in the Refinancing Participation Notices, be deemed to have refinanced all or a portion of the outstanding principal amount of Existing Term Loans held by such Existing Term Lender (any such Existing Term Loans (or portion thereof)
          so exchanged, an “Exchanged Loan”) through a cashless exchange of such amount for Refinancing Term Loans in a like principal amount (or such lesser amount as HSBC and the Borrower
          allocate in their sole discretion; the difference, if any, between the outstanding Existing Term Loans of such Converting Lender and the allocation of such Converting Lender, a “Shortfall”
          and, the Exiting Term Loans represented by the Shortfall, if any, the “Shortfall Loans”);

         

        WHEREAS, HSBC agrees to act as fronting bank for the syndication of the Refinancing Term Loans (in such capacity, the “Fronting Bank”), and the Fronting Bank will purchase, and the Existing Term Lenders that execute and deliver a Refinancing Participation Notice and elect the cash settlement option therein (the “Non-Converting Lenders”) will sell to the Fronting Bank, immediately prior to effectiveness of this Amendment all Existing Term Loans then held by the Non-Converting Lenders (the Existing
          Term Loans described in this recital, the “Participating Cash Settlement Term Loans”);

         

        WHEREAS, the Fronting Bank will fund, on the Amendment No. 3 Effective Date, Refinancing Term Loans in an aggregate principal amount of
          $478,140,056.39, the proceeds of which the Existing Administrative Agent shall apply on the Amendment No. 3 Effective Date to repay (and is hereby authorized by the Borrower to repay) (a) Shortfall Loans, (b) the outstanding Existing Term Loans
          of Existing Term Lenders that do not execute and deliver a Refinancing Participation Notice (the “Non-Participating Lenders”) in accordance with Section 9.02(c) of the Existing Credit Agreement (this clause (b), the “Non-Consenting Lender Refinancing”) (the Existing Term Loans held by Non-Participating
          Lenders described in this clause (b)(ii), the “Non-Participating Cash Settlement Term Loans” and, together with the Participating Cash Settlement Term Loans and the reallocated portion
          of the Shortfall Loans, the “Reallocated Term Loans”) and (c) the Participating Cash Settlement Term Loans;

         

        WHEREAS, the Refinancing Term Loans exchanged for or applied to the repayment of such Reallocated Term Loans shall promptly (but no later than 30
          days following the Amendment No. 3 Effective Date (or such later date as may be agreed to by the Fronting Bank in its sole discretion)) thereafter be purchased by the applicable Participating Lenders (such Participating Lenders, other than
          Existing Term Lenders, the “New Term Lenders”) in accordance with such Participating Lenders’ respective Refinancing Participation Notice and as allocated by the HSBC hereunder (in each
          case, subject to the prior written consent of the Borrower);

         

        
          2

          
            

        

        WHEREAS, the establishment of the Refinancing Term Loan Commitments and Revolving Commitments contemplated hereby and the effectiveness of the
          amendments contemplated by this Amendment require the consent of all Existing Lenders; and

         

        WHEREAS, (a) immediately prior to the Non-Consenting Lender Refinancing, the Lenders constituting at least the Required Lenders under the Existing
          Credit Agreement agree to such amendments and (b) after giving effect to the Non-Consenting Lender Refinancing, all Lenders agree to such amendments, in each case pursuant to Section 9.02
          of the Existing Credit Agreement.

         

        NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of
          which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

         

        Section 1.  Amendment and Restatement.  The Existing Credit Agreement, including all schedules and exhibits thereto, is hereby amended and restated in full in the form attached as Exhibit B hereto.

         

        Section 2.  Refinancing Term Loans.

         

        (a)        Each New Term
              Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents and the exhibits and schedules thereto, together with copies of the financial statements referred to therein and such other documents and
              information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and perform its obligations under the Credit Agreement; (ii) agrees that it will, independently and without reliance upon the
              Agents, HSBC or any Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and
              authorizes the Existing Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Existing Administrative Agent by the terms
              thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender, in accordance with
              the terms thereof as set forth in the Credit Agreement.  Each New Term Lender acknowledges and agrees that it shall become a “Term Lender” and a “Lender” under, and for all purposes of, the Credit Agreement and the other Loan Documents, and
              shall be subject to and bound by the terms thereof and shall have all rights of a “Term Lender” and a “Lender” thereunder.

         

        
          3

          
            

        

        (b)        (i) On the
              Amendment No. 3 Effective Date, upon the satisfaction or waiver by HSBC of the conditions set forth in Section 5 hereof, the outstanding principal amount of Exchanged Loans of each
              Converting Lender as set forth on Schedule 2.01(a) of the Credit Agreement (as allocated by HSBC and the Borrower in their sole discretion) shall be deemed to be exchanged for a
              like principal amount of Refinancing Term Loans under the Credit Agreement. Such exchange shall be effected by book entry in such manner, and with such supporting documentation, as may be reasonably determined by the Existing Administrative
              Agent in its sole discretion. It is acknowledged and agreed that each Converting Lender has agreed to accept as satisfaction in full of its right to receive payment on the outstanding amount of the Exchanged Loans of such Converting Lender,
              the conversion of its Existing Term Loans into Refinancing Term Loans in accordance herewith and the Credit Agreement, in lieu of the prepayment amount that would otherwise be payable by the Borrower pursuant to the Existing Credit Agreement
              in respect of the outstanding amount of Existing Term Loans of such Converting Lender.

         

        (ii)        (A) To the
              extent there exist, any Participating Cash Settlement Term Loans,  Shortfall Loans or Non-Participating Cash Settlement Term Loans, the Borrower hereby authorizes the Existing Administrative Agent to apply on the Amendment No. 3 Effective
              Date proceeds of Refinancing Term Loans in an aggregate principal amount of $478,140,056.39 to the repayment of such Shortfall Loans, Participating Cash Settlement Term Loans and Non-Participating Cash Settlement Term Loans, and in the case
              of such Non-Participating Cash Settlement Term Loans, in accordance with Section 9.02(c) of the Credit Existing Agreement and (B) promptly following the Amendment No. 3 Effective
              Date (but not later than 30 days following the Amendment No. 3 Effective Date (or such later date as maybe agreed to by the Fronting Bank in its sole discretion)), each new Term Lender, each Non-Converting Lender and each Existing Term Lender
              purchasing additional Refinancing Term Loans shall purchase from the Fronting Bank the Refinancing Term Loans exchanged for or applied to the repayment of such Reallocated Term Loans as directed by HSBC hereunder (in each case, subject to the
              prior written consent of the Borrower), in accordance with such Participating Lender’s Refinancing Participation Notice (or such lesser amount as allocated by HSBC and the Borrower).  Purchases and sales of Reallocated Term Loans and
              Refinancing Term Loans shall be without representations from the Fronting Bank other than as provided for in the relevant Assignment and Assumption.

         

        (iii)        The aggregate
              principal amount of (i) Exchanged Loans on the Amendment No. 3 Effective Date equals $821,859,943.61 and (ii) the Reallocated Term Loans on the Amendment No. 3 Effective Date equals $478,140,056.39.

         

        (iv)        Whether such
              Refinancing Terms Loans are the result of Exchanged Loans being cashlessly exchanged for Refinancing Term Loans or are otherwise Refinancing Term Loans used to in part purchase and repay, as applicable, Reallocated Term Loans, all such
              Refinancing Term Loans shall be treated as a single Class and Facility for all purposes under the Credit Agreement and the Loan Documents.

         

        Section 3.  Revolving Loans.

         

        
          4

          
            

        

        (a)        Each Revolving
              Lender and each Issuing Bank acknowledges and agrees that upon the occurrence of the Amendment No. 3 Effective Date (a) it shall be bound under this Amendment and (b) with respect to the Revolving Commitments and Letter of Credit Commitments
              (as defined in the Credit Agreement), respectively, it shall be bound under the Credit Agreement as a Lender holding a Revolving Commitment and Revolving Loans and an Issuing Bank holding a Letter of Credit Commitment, respectively (as and
              when such Revolving Commitments and Letter of Credit Commitment, respectively, are funded), and that such Revolving Lender shall become (or, in the case it is already a Lender under the Credit Agreement, shall continue to be) a “Lender” and
              such Issuing Bank shall become an Issuing Bank, in each case, under, and for all purposes of, the Credit Agreement and the other Loan Documents, and shall perform all the obligations of and shall have all rights of a Lender or Issuing Bank,
              respectively, thereunder.  Each Revolving Lender hereby agrees to provide its respective Revolving Commitment as set forth on Schedule 2.01(b) to the Credit Agreement on the terms
              set forth in this Amendment and in the Credit Agreement, and its Revolving Commitment shall be binding as of the Amendment No. 3 Effective Date.

         

        (b)         Each Revolving
              Lender and each Issuing Bank (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents and the exhibits and schedules thereto, together with copies of the financial statements referred to therein and such
              other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and the Credit Agreement; (ii) agrees that it will, independently and without reliance upon the Agents,
              HSBC or any Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes the
              Existing Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Existing Administrative Agent by the terms thereof, together
              with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender and Issuing Bank, respectively, in
              accordance with the terms thereof as set forth in the Credit Agreement.  Each Revolving Lender acknowledges and agrees that it shall become a “Revolving Lender” and a “Lender” under, and for all purposes of, the Credit Agreement and the other
              Loan Documents, and shall be subject to and bound by the terms thereof and shall have all rights of a “Revolving Lender” and a “Lender” thereunder. Each Issuing Bank acknowledges and agrees that it shall become an “Issuing Bank” under, and
              for all purposes of, the Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof and shall have all rights of an “Issuing Bank” thereunder.

         

        Section 4.Representations and Warranties.  Each
          Loan Party hereby represents and warrants that as of the Amendment No. 3 Effective Date and after giving effect to the amendments set forth in this Amendment, the representations and warranties of each Loan Party and the Borrower set forth in the
          Loan Documents shall be true and correct in all material respects on and as of the Amendment No. 3 Effective Date, provided that, to the extent that such representations and warranties
          specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date, provided further
          that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects on the Amendment No. 3 Effective Date or on such earlier date, as the case may be.

         

        
          5

          
            

        

        Section 5.  Effectiveness.  This Amendment shall become effective on the date (such date, the “Amendment No. 3 Effective Date”) that the following
          conditions have been waived or satisfied:

         

        (a)         The Agents shall
              have received evidence from the Borrower that the Borrower has made the Prepayment and Interest Payment; and

         

        (b)          All conditions
              set forth in Section 4.01 and 4.02 of the Credit Agreement shall be satisfied or waived.

         

        Section 6.  Releases. Substantially
          concurrently with, and subject to the occurrence of, the Amendment No. 3 Effective Date,

         

        (a)         Tronox
              International Finance LLP and Tronox UK Limited shall be released as Guarantors and Loan Parties under the Guarantee Agreement, all security interests and other Liens granted directly or indirectly in favor of the Collateral Agent (for the
              benefit of the Secured Parties), pursuant to the UK Security Documents, as security for the Secured Obligations under the Credit Agreement and all other Loan Documents shall be released and terminated.

         

        (b)        The Intercompany
              Intercreditor Agreement, dated as of October 6, 2017, among the Existing Administrative Agent and the Loan Parties party thereto, in the capacity as an original intra-group lender and original subordinated creditor, shall be terminated and
              all obligations thereunder shall be deemed irrevocably satisfied in full and discharged.

         

        (c)        The Agents and
              Required Lenders hereby authorize the termination of the following deposit account control agreements: (i) Amended and Restated Deposit Account Control Agreement, dated as of August 28, 2020, among Tronox US Holdings Inc., Bank of America,
              N.A., Wells Fargo Bank, National Association, Wilmington Trust, National Association and Citibank, N.A., (ii) Amended and Restated Uncertificated Securities Control Agreement, dated as of September 22, 2017 and amended and restated as of
              August 26, 2020, among Tronox US Holdings Inc., Bank of America, N.A., Wells Fargo Bank, National Association, Wilmington Trust, National Association and Goldman Sachs & Co. LLC, (iii) Deposit Account Control Agreement, dated as of August
              28, 2020, by and among Tronox Finance LLC, Wells Fargo Bank, National Association, Bank of America, National Association, Wilmington Trust and National Association, (iv) Deposit Account Control Agreement dated as of August 28, 2020, by and
              among Tronox LLC, Wells Fargo Bank, National Association, Bank of America, National Association, Wilmington Trust and National Association, (v) Deposit Account Control Agreement, dated as of August 28, 2020, by and among Tronox Incorporated,
              Wells Fargo Bank, National Association, Bank of America, National Association, Wilmington Trust and National Association, (vi) Deposit Account Control Agreement, dated as of August 28, 2020, by and among Tronox US Holdings Inc., Wells Fargo
              Bank, National Association, Bank of America, National Association, Wilmington Trust and National Association and (vii) any other deposit account control agreement (or similar agreement under foreign law) entered into by a Loan Party,
              applicable depository bank and the Existing Administrative Agent.

         

        
          6

          
            

        

        The Agents agree that, it will acting in its own name and on behalf of the Lenders promptly execute and deliver such other termination statements,
          lien releases, control agreement releases, discharge of security interest, re-assignments or other agreements and instruments in form and substance reasonably satisfactory to the Borrower and the Agents and take such other actions as the
          Borrowers may reasonably request to further evidence or effect the forgoing releases.

         

        Section 7. Consent and Appointment. The
          Required Lenders and the Borrower hereby consent to the appointment of HSBC as successor Administrative Agent, and each of the Required Lenders hereby appoint HSBC as successor Administrative Agent, as contemplated by the Successor Agent
          Agreement.

         

        Section 8.Waiver. Subject to the occurrence of
          the Amendment No. 3 Effective Date, and subject to the other terms and conditions set forth in this Amendment, the Administrative Agent and the Lenders hereby waive any known or unknown Defaults or Event of Defaults that may have occurred under
          the Existing Credit Agreement prior to the Amendment No. 3 Effective Date.  The parties hereto agree that the limited waiver set forth in this Section shall be limited precisely as written and, except as expressly set forth in this Section, shall
          not be deemed to be a consent to any amendment, waiver, or modification of any other term or condition of the Credit Agreement or any other Loan Document.

         

        Section 9. Counterparts.  This Amendment may be executed in one or more counterparts (and by different parties hereto in different counterparts), each of which shall be deemed an original, but all of which together shall
          constitute one and the same instrument. Any signature page to this Amendment may be delivered by facsimile, electronic transmission (including “.pdf”, “.tif” or similar format) or any electronic signature complying with the U.S. federal ESIGN Act
          of 2000 or the New York Electronic Signature and Records Act or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes to the fullest extent
          permitted by applicable law. Delivery of an executed counterpart of a signature page of this Amendment by electronic means shall be effective as delivery of a manually executed counterpart of this Amendment.

         

        Section 10.  Governing Law; Waiver of Jury Trial, Etc.

         

        THE PROVISIONS OF SECTIONS 9.09 AND 9.10 OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AMENDMENT MUTATIS MUTANDIS.

         

        Section 11.  Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting,
          this Amendment.

         

        
          7

          
            

        

        Section 12.  Effect of Amendment.  Except as expressly set forth herein, this Amendment (i) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of
          the Lenders, the Agents or any other Agent, in each case under the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements
          contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document or be construed as a novation thereof.  Each and every term, condition, obligation, covenant and agreement contained in the Credit
          Agreement as amended hereby, or any other Loan Document as amended hereby, is hereby ratified and re-affirmed in all respects and shall continue in full force and effect.  This Amendment shall constitute a Loan Document for purposes of the Credit
          Agreement and from and after the Amendment No. 3 Effective Date, all references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring
          to the Credit Agreement, shall, unless expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment.

         

        Section 13.  Acknowledgement and Affirmation.  Each Loan Party hereto expressly acknowledges that (a) all of its obligations under the Guarantee Agreement, the Collateral Agreements and the other Loan Documents to
          which it is a party are hereby reaffirmed and remain in full force and effect on a continuous basis, except as expressly modified hereby and (ii) its grant of security interests pursuant to the Collateral Agreements is hereby reaffirmed and
          remains in full force and effect after giving effect to this Amendment, except as expressly modified hereby.  For the avoidance of doubt, such reaffirmation and acknowledgment shall not constitute the creation of new Liens in respect of any
          Collateral governed by English law and shall merely constitute a confirmation that such Collateral remains in full force and effect and extends to the Secured Obligations in existence after the Amendment No. 3 Effective Date.

         

        Section 14.  No Novation.  By its execution of this Amendment, each of the parties hereto acknowledges and agrees that the terms of this Amendment do not constitute a novation of, but rather a supplement to, the
          terms of the pre-existing indebtedness and related agreements as evidenced by the Credit Agreement.

         

        [Remainder of page left intentionally blank]

        

           

        
          8

          
            

        

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

         

        	 	
                BORROWER:

              
	 	 
	 	
                TRONOX FINANCE LLC,

              
	 	
                as Borrower

              
	 	 
	 	
                By:

              	
                /s/ Edward T. Prosapio

              

        	 	
                Name:

              	
                Edward T. Prosapio

              
	 	
                Title:

              	
                Vice President and Treasurer

              

         

        [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

         

        
          
            

        

        	 	
                HOLDINGS:

              
	 	 
	 	
                TRONOX HOLDINGS PLC

              
	 	 
	 	
                By:

              	
                /s/ Jeffrey N. Neumann

              

        	 	
                Name:

              	
                Jeffrey N. Neumann

              
	 	
                Title:

              	
                Authorized Signatory

              

         

        [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

         

        
          
            

        

        	 	
                GUARANTORS:

              
	 	  
	 	
                TRONOX LLC

              
	 	
                TRONOX US HOLDINGS INC.

              
	 	
                TRONOX PIGMENTS LLC

              
	 	
                TRONOX INCORPORATED

              
	 	 
	 	
                By:

              	
                /s/ Edward T. Prosapio

              

        	 	
                Name:

              	
                Edward T. Prosapio

              
	 	
                Title:

              	
                Vice President and Treasurer

              

         

        [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

         

        
          
            

        

        
          SIGNED, SEALED and DELIVERED by

           

          Christine A. Willaims

          as attorney for

        

        

           

        
          	
                  Tronox Limited ACN 153 348 111

                
	
                  Tronox Global Holdings Pty Limited ACN 154 691 826

                
	
                  Tronox Management Pty Ltd ACN 009 343 364

                
	
                  Tronox Sands Holdings Pty Limited ACN 154 709 332

                
	
                  Tronox Mineral Holdings Australia Pty Ltd ACN 102 888 559

                
	
                  Tronox Australind Pty Ltd ACN 125 123 784

                
	
                  Tronox Pigment Bunbury Ltd ACN 008 683 627

                
	
                  Tronox Mining Australia Limited ACN 009 247 858

                
	
                  Cable Sands Holdings Pty. Limited ACN 001 288 268

                
	
                  Cable Sands Investments Pty. Limited ACN 000 430 482

                
	
                  Peregrine Mineral Sands Pty Ltd ACN 009 307 591

                
	
                  Peregrine Gold Mining Pty Ltd ACN 009 267 207

                
	
                  Nissho Iwai Mineral Sands (Australia) Pty. Limited ACN 003 870 871

                
	
                  Cable Sands Pty. Limited ACN 008 678 386

                
	
                  Cable Sands (W.A.) Pty Ltd ACN 009 137 142

                
	
                  Kathleen Investments (Australia) Pty Ltd ACN 008 402 891

                
	
                  Coffs Harbour Rutile Pty Ltd ACN 000 173 099

                
	
                  Rutile & Zircon Mines (Newcastle) Pty Ltd ACN 000 393 135

                
	
                  Titanium Technology (Australia) Pty Ltd ACN 000 833 643

                
	
                  Rzm Pty. Limited ACN 001 242 397

                
	
                  Nimsa Murray Basin Pty Ltd ACN 091 051 704

                
	
                  Murray Basin Titanium Pty Ltd ACN 082 497 827

                
	
                  Pooncarie Operations Pty Ltd ACN 102 895 581

                
	
                  Probo Mining Pty Ltd ACN 079 938 819

                
	
                  Imperial Mining (Aust) Pty Ltd ACN 062 193 266

                
	
                  Bemax Sales Pty Ltd ACN 101 858 931

                
	
                  Tronox Pigments Pty Limited ACN 052 533 829

                

        

        

           

        
          	
                  under power of attorney dated March, 11, 2021

                	 
	 	 
	
                  In the presence of:

                	 
	 	 
	
                  /s/ Mary Neuroth

                	 	
                  /s/ Christine A. Willaims

                	 
	
                  Signature of witness

                	 	

                	 
	

                	

                
	
                  MARY NEUROTH

                	
                  By executing this agreement the 

                  

                
	
                  Name of witness (block letters)

                	
                  attorney states that the attorney has

                  received no notice of revocation of the 

                  power of attorney

                

           

            
            [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

            

            

        

        
          
            

        

        	 	
                TRONOX HOLDINGS COÖOPERATIEF U.A.

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Managing Director A

              

        

           

        	 	
                TRONOX INTERNATIONAL B.V.

              
	 	 
	 	
                By:

              	
                /s/ Russell J. Austin

              

        	 	
                Name:

              	
                Russell J. Austin

              
	 	
                Title:

              	
                Managing Director

              

        

           

        	 	
                TRONOX PIGMENTS (NETHERLANDS) B.V.

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Managing Director

              

        

           

        	 	
                TRONOX PIGMENTS (HOLLAND) B.V.

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Managing Director

              

        

           

        	 	
                TRONOX INVESTMENTS NETHERLANDS B.V.

              
	 	  
	 	
                By:

              	
                /s/ Russell J. Austin

              
	 	
                Name:

              	
                Russell J. Austin

              
	 	
                Title:

              	
                Managing Director

              

         

          

         [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

          

         

          

        
          
            

        

        	 	
                TRONOX LIMITED, acting for itself and in its

                

                capacity as General Partner of TRONOX

                HOLDINGS EUROPE C.V.

              
	 	 
	 	
                By:

              	
                /s/ Edward T. Prosapio

              

        	 	
                Name:

              	
                Edward T. Prosapio

              
	 	
                Title:

              	
                Director

              

         

         [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

          

         

          

        
          
            

        

        	 	
                TRONOX UK HOLDINGS LIMITED

              
	 	 
	 	
                By:

              	
                /s/ Edward T. Prosapio

              

        	 	
                Name:

              	
                Edward T. Prosapio

              
	 	
                Title:

              	
                Director

              

        

           

        	 	
                TRONOX FINANCE PLC

              
	 	 
	 	
                By:

              	
                /s/ Edward T. Prosapio

              

        	 	
                Name:

              	
                Edward T. Prosapio

              
	 	
                Title:

              	
                Director

              

        

           

        	 	
                TRONOX UK MERGER COMPANY LIMITED

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Director

              

        

           

        	 	
                TRONOX HOLDINGS INVESTMENT LIMITED

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Director

              

        

           

        	 	
                TRONOX INVESTMENTS UK LIMITED

              
	 	 
	 	
                By:

              	
                /s/ Steven A. Kaye

              

        	 	
                Name:

              	
                Steven A. Kaye

              
	 	
                Title:

              	
                Director

              

        

           

        	 	
                MILLENNIUM INORGANIC CHEMICALS OVERSEAS HOLDINGS

              
	 	 
	 	
                By:

              	
                /s/ Shirley Fodor

              

        	 	
                Name:

              	
                Shirley Fodor

              
	 	
                Title:

              	
                Director

              

         

            [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

            

          

        
          
            

        

        	 	
                TRONOX FRANCE SAS

              
	 	 
	 	
                By:

              	
                /s/ Emmanuel J. Sibileau

              

        	 	
                Name:

              	
                Emmanuel J. Sibileau

              
	 	
                Title:

              	
                President

              

        

           

        	 	
                MILLENNIUM INORGANIC CHEMICALS LE HAVRE SAS

              
	 	 
	 	
                By:

              	
                /s/ Emmanuel J. Sibileau

              

        	 	
                Name:

              	
                Emmanuel J. Sibileau

              
	 	
                Title:

              	
                President

              

        

           

        	 	
                MILLENNIUM INORGANIC CHEMICALS SAS

              
	 	 
	 	
                By:

              	
                /s/ Emmanuel J. Sibileau

              

        	 	
                Name:

              	
                Emmanuel J. Sibileau

              
	 	
                Title:

              	
                President

              

        
           

            

          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                BANK OF AMERICA, N.A.,

              
	
                as Existing Administrative Agent and Collateral Agent

              
	 
	
                By:

              	
                /s/ Christine Trotter

              

        	
                Name:

              	
                Christine Trotter

              
	
                Title:

              	
                Assistant Vice President

              

         

          

        
          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        
          	
                  
                    HSBC BANK USA, NATIONAL ASSOCIATION

                  

                
	
                  
                    as New Administrative Agent and Collateral Agent

                  

                
	 
	
                  
                    By:

                  

                	
                  
                    /s/Nimish Pendey

                  

                

        

        	
                Name:

              	
                Nimish Pandey

              
	
                Title:

              	
                VP

              

         

          

         [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

          

         

          

        
          
            

        

        	
                HSBC BANK USA, NATIONAL ASSOCIATION

                 

              
	
                as a Revolving Lender

              
	 
	
                By:

              	
                /s/ Peggy Yip

              

        
          
            	
                    
                      Name:

                    

                  	
                    
                      Peggy Yip

                    

                  
	
                    
                      Title:

                    

                  	
                    
                      Director

                    

                  

          

          

          

          
            [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

          

          

          

        

        
          
            

        

        	
                CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

              
	
                as a Revolving Lender

              
	 
	
                By:

              	
                /s/ Doreen Barr

              

        	
                Name:

              	
                Doreen Barr

              
	
                Title:

              	
                Authorized Signatory

              

        

           

        	
                By:

              	
                /s/ Nawshaer Safi

              

        	
                Name:

              	
                Nawshaer Safi

              
	
                Title:

              	
                Authorized Signatory

              

        

           

        
          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                CITIBANK, N.A.

              
	
                as a Revolving Lender

              
	  
	
                By:

              	
                /s/ Kirkwood Roland

              

        	
                Name:

              	
                Kirkwood Roland

              
	
                Title:

              	
                Managing Director

              

         

          

        
          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                BANK OF AMERICA, N.A.

              
	
                as a Revolving Lender

              
	 	 
	
                By:

              	
                /s/ Timothy B. Curtin

              
	
                Name:

              	
                Timothy B. Curtin

              
	
                Title:

              	
                Senior Vice President

              

        
           

          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                BARCLAYS BANK PLC

              
	
                as a Revolving Lender

              
	  
	
                By:

              	
                /s/ Kevin Crealese

              
	
                Name:

              	
                Kevin Crealese

              
	
                Title:

              	
                Managing Director

              

         

          

         [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

          

         

          

        
          
            

        

        	
                BNP PARIBAS

              
	
                as a Revolving Lender

              
	 	 
	
                By:

              	
                /s/ David L. Berger

              
	
                Name:

              	
                David L. Berger

              
	
                Title:

              	
                Managing Director

              
	 	 
	
                By:

              	
                /s/Aadil Zuberi

              
	
                Name:

              	
                Aadil Zuberi

              
	
                Title:

              	
                Director

              

        

           

        
          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                DEUTSCHE BANK SECURITIES INC.

              
	
                as a Revolving Lender

              
	 	 
	
                By:

              	
                /s/ John Huntington

              
	
                Name:

              	
                John Huntington

              
	
                Title:

              	
                Managing Director

              
	 	 
	
                By:

              	
                /s/ Alvin Varughese

              
	
                Name:

              	
                Alvin Varughese

              
	
                Title:

              	
                Managing Director

              

        
           

            

          [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        	
                GOLDMAN SACHS BANK USA

              
	
                as a Revolving Lender

              
	 
	
                By:

              	
                /s/ Thomas Manning

              
	
                Name:

              	
                Thomas Manning

              
	
                Title:

              	
                Authorized Signatory

              

        
          

            [Signature page to Amendment No. 3 to Term Loan Credit Agreement]

           

            

        

        
          
            

        

        
          EXHIBIT A

          Form of Refinancing Participation Notice

           

          HSBC Bank USA, National Association, as Administrative Agent

          452 Fifth Avenue

          New York, New York 10018

          	
                  Attention:

                	
                  [●]

                
	
                  Facsimile:

                	
                  [●]

                
	
                  Telephone:

                	
                  [●]

                

          

          

          TRONOX FINANCE LLC.

          Refinancing Participation Notice

           

          Ladies and Gentlemen:

           

          Reference is made to the Amendment No. 3 (the “Amendment”) to that certain First
            Lien Term Loan Credit Agreement, dated as of September 22, 2017 (as amended by that certain Amendment No. 1 and Waiver to First Lien Term Loan Credit Agreement, dated as of February 26, 2019, as further amended by that certain Amendment No. 2
            to First Lien Term Loan Credit Agreement, dated as of March 22, 2019, and as further amended by the Amendment and as may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Tronox Limited (ACN 153 348 111), an Australian public limited company incorporated in the Commonwealth of Australia, Tronox Finance LLC, a Delaware
            limited liability company (the “Borrower”), Tronox Holdings plc, a public limited company incorporated under the laws of England and Wales and having company number 11653089 (“Holdings”), each of the other Guarantors party thereto, each lender party thereto, Bank of America, N.A., as administrative agent and collateral agent (the “Existing Administrative Agent”), and HSBC Bank USA, National Association (“HSBC”) as new administrative agent and collateral agent (the “New Administrative Agent”).  Unless otherwise specified herein, capitalized terms used but not defined herein are used as defined in the Amendment.

           

          By delivery of this letter agreement (this “Refinancing Participation Notice”), each
            of the undersigned (each a “Participating Lender”), hereby irrevocably consents to the Amendment and the amendment and restatement of the Credit Agreement contemplated thereby and
            (check as applicable):

           

          	
                  Name of Participating Lender:

                	 	 

          

          

          	
                  Amount of Existing Term Loans of such
                      Participating Lender:  $

                	 

           

            

          	☐	
                  Cashless Settlement Option.  Hereby (i) elects,
                      upon the Amendment No. 3 Effective Date, to exchange the full amount (or such lesser amount allocated to such Participating Lender by HSBC) of the outstanding Existing Term Loans of such Participating Lender for an equal outstanding
                      amount of Refinancing Term Loans under the Credit Agreement and (ii) represents and warrants to the Administrative Agent that it has the organizational power and authority to execute, deliver and perform its obligations under this
                      Refinancing Participation Notice and the Amendment (including, without limitation, with respect to any exchange contemplated hereby) and has taken all necessary corporate and other organizational action to authorize the execution,
                      delivery and performance of this Refinancing Participation Notice and the Amendment.

                

           

          
            
              

          

          	☐	
                  Cash Settlement Option.  Hereby (i) elects to
                      have the full amount (or such lesser amount allocated to such Participating Lender by HSBC) of the outstanding Existing Term Loans of such Participating Lender repaid or purchased and agrees to promptly purchase (via assignment and
                      assumption) an equal amount of Refinancing Term Loans and (ii) represents and warrants to the Administrative Agent that it has the organizational power and authority to execute, deliver and perform its obligations under this
                      Refinancing Participation Notice and the Amendment (including, without limitation, with respect to any exchange contemplated hereby) and has taken all necessary corporate and other organizational action to authorize the execution,
                      delivery and performance of this Refinancing Participation Notice and the Amendment.

                

           

          [Signature Page Follows]

           

          
            
              

          

          
            	 	
                    Very truly yours,

                  	 
	 	

                  	,

                  
	
                     

                  	
                     

                  	

                  

          

          	 	
                  By:

                	 
	 	 	
                  Name:

                
	 	 	
                  Title:

                
	 	 
	 	
                  By:

                	 
	 	 	
                  Name:

                
	 	 	
                  Title:

                

          

          

          
            [Signature Page to Amendment No. 3 to Term Loan Credit Agreement]

             

              

          

          
            
              

          

          EXHIBIT B

          Amended and Restated Credit Agreement

           

          [See Attached]

           

          
            
              

          

          
            	 	
                    EXHIBIT B

                  
	 	 
	 	
                    Deal CUSIP: 89705DAF9

                    Revolver CUSIP: 89705DAH5

                    Term Loan CUSIP: 89705DAG7

                  
	 	 

          

           

            

          AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT

           

          dated as of

           

          September 22, 2017

           

          as amended on February 26, 2019

          as amended on March 22, 2019

          as amended and restated on  March 11, 2021

          

          

          among

           

          TRONOX HOLDINGS PLC

          as Holdings,

           

          TRONOX FINANCE LLC,

          as the Borrower,

           

          LENDERS,

           

          BANK OF AMERICA, NATIONAL ASSOCIATION,

          as Existing Administrative Agent and Collateral Agent

          

          

          and

          

          

          HSBC BANK USA, NATIONAL ASSOCIATION,

          as Administrative Agent and Collateral Agent

           

          

          
            
 

          

           

          

          HSBC  SECURITIES (USA) INC.,

          CREDIT SUISSE LOAN FUNDING LLC,

          CITIGROUP GLOBAL MARKETS INC.,

          BARCLAYS BANK PLC,

          BNP PARIBAS SECURITIES CORP.,

          BOFA SECURITIES, INC.,

          DEUTSCHE BANK SECURITIES INC.,

          

          

          and

          

          

          GOLDMAN SACHS BANK USA

           as Lead Arrangers and Joint Bookrunners

           

          
            
              

          

          TABLE OF CONTENTS

           

          	
                  ARTICLE I DEFINITIONS

                	
                  2

                
	 	 
	 	
                  SECTION 1.01

                	
                  Defined Terms

                	
                  2

                
	 	
                  SECTION 1.02

                	
                  Classification of Loans and Borrowings

                	
                  89

                
	 	
                  SECTION 1.03

                	
                  Terms Generally

                	
                  90

                
	 	
                  SECTION 1.04

                	
                  Accounting Terms; GAAP

                	
                  90

                
	 	
                  SECTION 1.05

                	
                  Currency Translation; Rates

                	
                  91

                
	 	
                  SECTION 1.06

                	
                  Timing of Payment of Performance

                	
                  92

                
	 	
                  SECTION 1.07

                	
                  Cashless Rollovers

                	
                  92

                
	 	
                  SECTION 1.08

                	
                  Certain Calculations and Tests

                	
                  92

                
	 	
                  SECTION 1.09

                	
                  Rounding

                	
                  94

                
	 	
                  SECTION 1.10

                	
                  Baskets

                	
                  94

                
	 	
                  SECTION 1.11

                	
                  Dutch Terms

                	
                  95

                
	 	
                  SECTION 1.12

                	
                  French Terms

                	
                  96

                
	 	
                  SECTION 1.13

                	
                  Letter of Credit Amounts

                	
                  97

                
	 	
                  SECTION 1.14

                	
                  Pro Forma Calculations.

                	
                  97

                
	 	 
	
                  ARTICLE II THE CREDITS

                	99

                
	 	 
	 	
                  SECTION 2.01

                	
                  Commitments

                	
                  99

                
	 	
                  SECTION 2.02

                	
                  Loans and Borrowings

                	
                  100

                
	 	
                  SECTION 2.03

                	
                  Requests for Borrowings

                	
                  101

                
	 	
                  SECTION 2.04

                	
                  Letters of Credit

                	
                  102

                
	 	
                  SECTION 2.05

                	
                  [Reserved]

                	
                  112

                
	 	
                  SECTION 2.06

                	
                  Funding of Borrowings

                	
                  112

                
	 	
                  SECTION 2.07

                	
                  Interest Elections

                	
                  113

                
	 	
                  SECTION 2.08

                	
                  Termination and Reduction of Commitments

                	
                  115

                
	 	
                  SECTION 2.09

                	
                  Repayment of Loans; Evidence of Debt

                	
                  116

                
	 	
                  SECTION 2.10

                	
                  Repayment of Loans

                	
                  116

                
	 	
                  SECTION 2.11

                	
                  Prepayment of Loans.

                	
                  117

                
	 	
                  SECTION 2.12

                	
                  Fees

                	
                  123

                
	 	
                  SECTION 2.13

                	
                  Interest

                	
                  124

                
	 	
                  SECTION 2.14

                	
                  Alternate Rate of Interest

                	
                  125

                
	 	
                  SECTION 2.15

                	
                  Increased Costs.

                	
                  127

                

          

             

          
            i

            
              

          

          	 	
                  SECTION 2.16

                	
                  Break Funding Payments

                	
                  128

                
	 	
                  SECTION 2.17

                	
                  Taxes

                	
                  129

                
	 	
                  SECTION 2.18

                	
                  Payments Generally; Pro Rata Treatment; Sharing of Setoffs

                	
                  131

                
	 	
                  SECTION 2.19

                	
                  Mitigation Obligations; Replacement of Lenders

                	
                  133

                
	 	
                  SECTION 2.20

                	
                  Incremental Loans and Commitments

                	
                  134

                
	 	
                  SECTION 2.21

                	
                  Refinancing Amendments

                	
                  142

                
	 	
                  SECTION 2.22

                	
                  Defaulting Lenders

                	
                  143

                
	 	
                  SECTION 2.23

                	
                  Illegality

                	
                  145

                
	 	
                  SECTION 2.24

                	
                  Loan Modification Offers

                	
                  145

                
	 	
                  SECTION 2.25

                	
                  Permitted Debt Exchanges

                	
                  147

                
	 	 
	
                  ARTICLE III REPRESENTATIONS AND WARRANTIES

                	150

                
	 	 
	 	
                  SECTION 3.01

                	
                  Organization; Powers

                	
                  150

                
	 	
                  SECTION 3.02

                	
                  Authorization; Enforceability

                	
                  150

                
	 	
                  SECTION 3.03

                	
                  Governmental Approvals; No Conflicts

                	
                  150

                
	 	
                  SECTION 3.04

                	
                  Financial Condition; No Material Adverse Effect

                	
                  151

                
	 	
                  SECTION 3.05

                	
                  Properties

                	
                  151

                
	 	
                  SECTION 3.06

                	
                  Litigation and Environmental Matters

                	
                  151

                
	 	
                  SECTION 3.07

                	
                  Compliance with Laws

                	
                  152

                
	 	
                  SECTION 3.08

                	
                  Investment Company Status

                	
                  152

                
	 	
                  SECTION 3.09

                	
                  Taxes

                	
                  152

                
	 	
                  SECTION 3.10

                	
                  ERISA; Foreign Pension Plans

                	
                  152

                
	 	
                  SECTION 3.11

                	
                  Disclosure

                	
                  153

                
	 	
                  SECTION 3.12

                	
                  Subsidiaries

                	
                  153

                
	 	
                  SECTION 3.13

                	
                  Intellectual Property; Licenses, Etc

                	
                  153

                
	 	
                  SECTION 3.14

                	
                  Solvency

                	
                  154

                
	 	
                  SECTION 3.15

                	
                  Federal Reserve Regulations

                	
                  154

                
	 	
                  SECTION 3.16

                	
                  Security Interest in Collateral

                	
                  154

                
	 	
                  SECTION 3.17

                	
                  PATRIOT Act, Sanctions and Anti-Corruption

                	
                  154

                
	 	
                  SECTION 3.18

                	
                  Centre of Main Interests and Establishments

                	
                  155

                
	 	
                  SECTION 3.19

                	
                  Dutch Law Representations

                	
                  155

                
	 	
                  SECTION 3.20

                	
                  Australian Tax

                	
                  155

                
	 	
                  SECTION 3.21

                	
                  Affected Financial Institution

                	
                  155

                

          

             

          
            ii

            
              

          

          	
                  ARTICLE IV CONDITIONS

                	155

                
	 	 
	 	
                  SECTION 4.01

                	
                  Closing Date.

                	
                  155

                
	 	
                  SECTION 4.02

                	
                  Each Credit Event

                	
                  159

                
	 	 
	
                  ARTICLE V AFFIRMATIVE COVENANTS

                	160

                
	 	 
	 	
                  SECTION 5.01

                	
                  Financial Statements and Other Information

                	
                  160

                
	 	
                  SECTION 5.02

                	
                  Notices of Material Events

                	
                  163

                
	 	
                  SECTION 5.03

                	
                  Information Regarding Collateral

                	
                  164

                
	 	
                  SECTION 5.04

                	
                  Existence; Conduct of Business

                	
                  164

                
	 	
                  SECTION 5.05

                	
                  Payment of Taxes, Etc.

                	
                  164

                
	 	
                  SECTION 5.06

                	
                  Other Information

                	
                  164

                
	 	
                  SECTION 5.07

                	
                  [Reserved].

                	
                  164

                
	 	
                  SECTION 5.08

                	
                  Maintenance of Properties

                	
                  165

                
	 	
                  SECTION 5.09

                	
                  Insurance

                	
                  165

                
	 	
                  SECTION 5.10

                	
                  Books and Records; Inspection and Audit Rights

                	
                  166

                
	 	
                  SECTION 5.11

                	
                  Compliance with Laws

                	
                  166

                
	 	
                  SECTION 5.12

                	
                  Use of Proceeds

                	
                  166

                
	 	
                  SECTION 5.13

                	
                  Additional Subsidiaries

                	
                  167

                
	 	
                  SECTION 5.14

                	
                  Further Assurances

                	
                  167

                
	 	
                  SECTION 5.15

                	
                  Ratings

                	
                  168

                
	 	
                  SECTION 5.16

                	
                  Lenders Meetings

                	
                  168

                
	 	
                  SECTION 5.17

                	
                  Certain Post-Closing Obligations

                	
                  168

                
	 	
                  SECTION 5.18

                	
                  Designation of Subsidiaries

                	
                  169

                
	 	
                  SECTION 5.19

                	
                  Centre of Main Interests

                	
                  169

                
	 	
                  SECTION 5.20

                	
                  Change in Nature of Business

                	
                  169

                
	 	
                  SECTION 5.21

                	
                  Accounting Changes

                	
                  169

                
	 	
                  SECTION 5.22

                	
                  MIRE Events

                	
                  169

                
	 	
                  SECTION 5.23

                	
                  People with Significant Control Regime

                	
                  170

                
	 	
                  SECTION 5.24

                	
                  Dutch Law Undertakings

                	
                  170

                
	 	
                  SECTION 5.25

                	
                  Australian Tax Consolidated Group

                	
                  170

                
	 	
                  SECTION 5.26

                	
                  Australian GST Group

                	
                  170

                
	 	
                  SECTION 5.27

                	
                  Australian PPS Law

                	
                  171

                
	 	
                  SECTION 5.28

                	
                  Australian Financial Assistance and Related Matters

                	
                  171

                

          

             

          
            iii

            
              

          

          	
                  ARTICLE VI NEGATIVE COVENANTS

                	172

                
	 	 
	 	
                  SECTION 6.01

                	
                  Indebtedness; Certain Equity Securities

                	
                  172

                
	 	
                  SECTION 6.02

                	
                  Liens

                	
                  179

                
	 	
                  SECTION 6.03

                	
                  Fundamental Changes

                	
                  184

                
	 	
                  SECTION 6.04

                	
                  Investments, Loans, Advances, Guarantees and Acquisitions

                	
                  186

                
	 	
                  SECTION 6.05

                	
                  Asset Sales

                	
                  189

                
	 	
                  SECTION 6.06

                	
                  [Reserved]

                	
                  192

                
	 	
                  SECTION 6.07

                	
                  Negative Pledge

                	
                  192

                
	 	
                  SECTION 6.08

                	
                  Restricted Payments; Certain Payments of Indebtedness

                	
                  193

                
	 	
                  SECTION 6.09

                	
                  Transactions with Affiliates

                	
                  198

                
	 	
                  SECTION 6.10

                	
                  Restrictions on Subsidiary Distributions

                	
                  200

                
	 	
                  SECTION 6.11

                	
                  Sale Leasebacks

                	
                  201

                
	 	
                  SECTION 6.12

                	
                  Financial Covenant.

                	
                  201

                
	 	 
	
                  ARTICLE VII EVENTS OF DEFAULT

                	201

                
	 	 
	 	
                  SECTION 7.01

                	
                  Events of Default

                	
                  201

                
	 	
                  SECTION 7.02

                	
                  Application of Proceeds

                	
                  205

                
	 	
                  SECTION 7.03

                	
                  Right to Cure.

                	
                  206

                
	 	 
	
                  ARTICLE VIII THE ADMINISTRATIVE AGENT

                	207

                
	 	 
	
                  ARTICLE IX MISCELLANEOUS

                	 214
	 	 
	 	
                  SECTION 9.01

                	
                  Notices

                	
                  214

                
	 	
                  SECTION 9.02

                	
                  Waivers; Amendments

                	
                  215

                
	 	
                  SECTION 9.03

                	
                  Expenses; Indemnity; Damage Waiver

                	
                  221

                
	 	
                  SECTION 9.04

                	
                  Successors and Assigns

                	
                  223

                
	 	
                  SECTION 9.05

                	
                  Survival

                	
                  231

                
	 	
                  SECTION 9.06

                	
                  Counterparts; Integration; Effectiveness

                	
                  232

                
	 	
                  SECTION 9.07

                	
                  Severability

                	
                  232

                
	 	
                  SECTION 9.08

                	
                  Right of Setoff

                	
                  232

                
	 	
                  SECTION 9.09

                	
                  Governing Law; Jurisdiction; Consent to Service of Process

                	
                  233

                
	 	
                  SECTION 9.10

                	
                  Waiver of Jury Trial

                	
                  233

                
	 	
                  SECTION 9.11

                	
                  Headings

                	
                  234

                
	 	
                  SECTION 9.12

                	
                  Confidentiality

                	
                  234

                
	 	
                  SECTION 9.13

                	
                  USA Patriot Act

                	
                  235

                
	 	
                  SECTION 9.14

                	
                  Judgment Currency

                	
                  235

                

          

             

          
            iv

            
              

          

          	 	
                  SECTION 9.15

                	
                  Release of Liens and Guarantees

                	
                  236

                
	 	
                  SECTION 9.16

                	
                  No Fiduciary Relationship

                	
                  236

                
	 	
                  SECTION 9.17

                	
                  Permitted Intercreditor Agreements

                	
                  237

                
	 	
                  SECTION 9.18

                	
                  Acknowledgement and Consent to Bail-In of Affected Financial Institutions

                	
                  238

                
	 	
                  SECTION 9.19

                	
                  Electronic Execution of Assignments and Certain Other Documents

                	
                  239

                
	 	
                  SECTION 9.20

                	
                  Other Agents and Arrangers

                	
                  239

                
	 	
                  SECTION 9.21

                	
                  Acknowledgement Regarding Any Supported QFCs.

                	
                  239

                
	 	
                  SECTION 9.22

                	
                  Certain ERISA Matters

                	
                  240

                
	 	
                  SECTION 9.23

                	
                  Australian Security Trustee.

                	
                  242

                
	 	
                  SECTION 9.24

                	
                  Parallel Liability

                	
                  244

                

           

            

          
            v

            
              

          

          	
                  SCHEDULES:

                	 	 
	 	 	 
	
                  Schedule 1.01(a)

                	
                  —

                	
                  Existing Letters of Credit

                
	
                  Schedule 1.01(b)

                	
                  —

                	
                  L/C Issuers

                
	
                  Schedule 2.01(a)

                	
                  —

                	
                  Refinancing Term Commitments

                
	
                  Schedule 2.01(b)

                	
                  —

                	
                  Initial Revolving Commitments

                
	
                  Schedule 2.11

                	
                  —

                	
                  Dutch Auction Procedures

                
	
                  Schedule 3.05

                	
                  —

                	
                  Closing Date Material Real Property

                
	
                  Schedule 3.06

                	
                  —

                	
                  Litigation and Environmental Matters

                
	
                  Schedule 3.12

                	
                  —

                	
                  Subsidiaries

                
	
                  Schedule 4.01

                	
                  —

                	
                  Organizational and Capital Structure

                
	
                  Schedule 5.17

                	
                  —

                	
                  Certain Post-Closing Obligations

                
	
                  Schedule 6.01

                	
                  —

                	
                  Existing Indebtedness

                
	
                  Schedule 6.02

                	
                  —

                	
                  Existing Liens

                
	
                  Schedule 6.04(g)

                	
                  —

                	
                  Existing Investments

                
	
                  Schedule 6.07

                	
                  —

                	
                  Existing Restrictions

                
	
                  Schedule 6.09

                	
                  —

                	
                  Existing Affiliate Transactions

                
	
                  Schedule 6.10

                	
                  —

                	
                  Subsidiary Distributions Restrictions

                

          

             

          	
                  EXHIBITS:

                	 	 
	 	 	 
	
                  Exhibit A

                	
                  —

                	
                  Agreed Security Principles

                
	
                  Exhibit B

                	
                  —

                	
                  Form of Assignment and Assumption

                
	
                  Exhibit C

                	
                  —

                	
                  Form of Borrowing Request

                
	
                  Exhibit D

                	
                  —

                	
                  Form of Compliance Certificate

                
	
                  Exhibit E

                	
                  —

                	
                  Form of Interest Election Request

                
	
                  Exhibit F

                	
                  —

                	
                  Form of Notice of Prepayment

                
	
                  Exhibit G

                	
                  —

                	
                  Form of Closing Certificate

                
	
                  Exhibit H

                	
                  —

                	
                  Form of Affiliated Lender Assignment and Assumption

                

          

             

          	
                  DUTCH

                  AUCTION EXHIBITS:

                	 	 
	 	 	 
	
                  Exhibit A

                	
                  —

                	
                  Form of Acceptance and Prepayment Notice

                
	
                  Exhibit B

                	
                  —

                	
                  Form of Discount Range Prepayment Notice

                
	
                  Exhibit C

                	
                  —

                	
                  Form of Discount Range Prepayment Offer

                
	
                  Exhibit D

                	
                  —

                	
                  Form of Solicited Discounted Prepayment Notice

                
	
                  Exhibit E

                	
                  —

                	
                  Form of Solicited Discounted Prepayment Offer

                
	
                  Exhibit F

                	
                  —

                	
                  Form of Specified Discount Prepayment Notice

                
	
                  Exhibit G

                	
                  —

                	
                  Form of Specified Discount Prepayment Response

                

          

          

          
            vi

            
              

          

          AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT dated as of March 11, 2021 (this “Agreement”),

            among TRONOX HOLDINGS PLC, a public limited company incorporated under the laws of England and Wales having registered number 11653089 (“Holdings”), TRONOX FINANCE LLC, a Delaware
            limited liability company (the “Borrower”), the LENDERS from time to time party hereto, HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent and as Collateral Agent and BANK OF
            AMERICA, NATIONAL ASSOCIATION, as Existing Administrative Agent and Collateral Agent.

           

          RECITALS

           

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

           

          WHEREAS, the Loan Parties are party to that certain First Lien Term Loan Credit Agreement, dated as of September 22, 2017 (as amended by that
            certain Amendment No. 1 and Waiver to First Lien Term Loan Credit Agreement, dated as of February 26, 2019, by that certain Amendment No. 2 to First Lien Term Loan Credit Agreement, dated as of March 22, 2019, and as further amended,
            supplemented or restated through the date hereof, the “Existing Term Loan Credit Agreement”), by and among Holdings, the Borrower, the lenders party thereto from time to time and the
            Existing Administrative Agent and Collateral Agent;

           

          WHEREAS, the Loan Parties desire to (i) repay a portion of the Existing Dollar Term Loans in a principal amount equal to $312,914,062.50,
            together with accrued interest on such amount, with cash on hand (the “Prepayment”), (ii) refinance or convert all Existing Dollar Term Loans and all other Existing Obligations under
            the Existing Term Loan Credit Agreement that remain outstanding after giving effect to the Prepayment, (iii) pay all accrued interest that is outstanding under the Existing Term Loan Credit Agreement as of the Closing Date after giving effect
            to the Prepayment, and (iv) repay and discharge all obligations under the Existing Revolving Credit Agreement and refinance the commitments thereunder with the Initial Revolving Commitments (the transactions in the foregoing clauses (i)-(iv),
            collectively, the “Closing Date Refinancing”);

           

          WHEREAS, to effectuate the Closing Date Refinancing, the Lenders have agreed, in accordance with and pursuant to the Amendment, to extend
            certain credit facilities to the Borrower, consisting of (i) Refinancing Term Loans, which on the Closing Date shall be in an aggregate principal amount of $1,300,000,000 (the “Refinancing Term
                Facility”), and (ii) Initial Revolving Commitments, which on the Closing Date shall be in an aggregate principal amount of $350,000,000 (the “Initial Revolving Facility”);

           

          WHEREAS, the parties hereto intend that the Collateral (as defined in the Existing Term Loan Credit Agreement) shall continue to secure, support
            and otherwise benefit the Secured Obligations of the Loan Parties under this Agreement and the other Loan Documents, except as expressly provided for in this Agreement;

           

          NOW THEREFORE, the parties hereto agree as follows:

           

          
            1

            
              

          

          Article I

          

          

          DEFINITIONS

           

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

           

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

           

          “Accepting Lenders” has the meaning assigned to such term in Section 2.24(a).

           

          “Accounting Changes” has the meaning assigned to such term in Section 1.04(c).

           

          “Acquisition Transaction” means the purchase or other acquisition, by merger,
            consolidation or otherwise, by Holdings or any Restricted Subsidiary of all or substantially all the assets of (or all or substantially all the assets constituting a business unit, division, product line or line of business of) any Person or of
            a majority of the outstanding Equity Interests of any Person (and, in any event, including any Investment which serves to increase Holdings’ or any Restricted Subsidiary’s respective equity ownership in any joint venture or Subsidiary).

           

          “Additional Lender” means, at any time, any bank or other financial institution
            (including any such bank or financial institution that is a Lender at such time) that agrees to provide any portion of any (a) Incremental Facility pursuant to an Incremental Facility Amendment in accordance with Section 2.20 or (b) Credit Agreement Refinancing Indebtedness pursuant to a Refinancing Amendment in accordance with Section 2.21; provided that each Additional Lender shall be subject to the approval of (i) the Administrative Agent, and (ii) the Borrower, in each of the foregoing clauses (i) and (ii), to the extent
            such approval would be required pursuant to Section 9.04 if an assignment of the applicable Loans or Commitments were being made to such Additional Lender.

           

          “Adjusted LIBO Rate” means, for any Interest Period, with respect to an Interest
            Period for a LIBOR Loan denominated in Dollars, an interest rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal to (a) the LIBO Rate for Dollars for such Interest Period multiplied by (b) the Statutory Reserve Rate.

           

          “Administrative Agent” means HSBC, in its capacity as administrative agent hereunder
            and under the other Loan Documents, and its successors and assigns in such capacity as provided in Article VIII; provided
            that until the effectiveness of the Agency Successor Agreement and the consummation of transactions specified in clauses (i), (ii) and (iii) of the definition of Closing Date Refinancing (such conditions, the “Agency Succession Conditions”), the Administrative Agent shall be the Existing Administrative Agent and Collateral Agent for all purposes hereunder.

           

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

           

          “Affected Class” has the meaning assigned to such term in Section 2.24(a).

           

          
            2

            
              

          

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

           

          “Affiliate” means, with respect to a specified Person, another Person that directly
            or indirectly controls or is controlled by or is under common control with the Person specified for the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common
            control with”), as applied to any Person, means the possession, directly or indirectly, of the power  to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities or by
            contract or otherwise.

           

          “Affiliated Lender” means, at any time, any Lender that is an Affiliate of Holdings,
            (other than (i) Holdings, (ii) the Borrower, (iii) any Subsidiary or (iv) any Competitor Debt Fund Affiliate).

           

          “Affiliated Lender Assignment and Assumption” has the meaning assigned to such term
            in Section 9.04(g)(5).

           

          “Affiliated Lender Cap” has the meaning assigned to such term in Section 9.04(g)(4).

           

          “Agent” means the Administrative Agent and the Collateral Agent, each Lead Arranger,
            each Joint Bookrunner and any successors and assigns in such capacities, and “Agents” means two or more of them.

           

          “Agency Fee Letter” means that Agency Fee Letter, dated as of the Closing Date by
            and among the Borrower and HSBC, in its capacity as Administrative Agent.

           

          “Agency Succession Conditions” has the meaning assigned to such term in the
            definition of Administrative Agent.

           

          “Agency Successor Agreement” means that certain Agency Resignation, Appointment and
            Assumption Agreement, dated as of the Closing Date, by and among Bank of America, N.A., in its capacity as Existing Administrative Agent and Collateral Agent, HSBC, in its capacity as the Administrative Agent and the Borrower.

           

          “Agreed Security Principles” means those certain agreed security principles set out
            in Exhibit A hereto.

           

          “Agreement” has the meaning provided in the preamble hereto.

           

          “Agreement Currency” has the meaning assigned to such term in Section 9.14(b).

           

          “Alternate Base Rate” means, for any day, a fluctuating rate per annum equal to the
            highest of (a) the Prime Rate in effect for such day as publicly announced from time to time, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1% per annum
            and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Dollars with a maturity of one month plus 1% per annum.  Any change in the Prime Rate shall take effect at the opening of business on the day specified in the public announcement of such change.  Notwithstanding the foregoing, the Alternate Base Rate will be deemed to be
            zero if the Alternate Base Rate calculated pursuant to the foregoing provisions would otherwise be less than zero and there shall otherwise be no Alternate Base Rate “floor” for the Refinancing Term Loans or Initial Revolving Loans.

           

          
            3

            
              

          

          “Amendment” means Amendment No. 3 to First Lien Term Loan Credit Agreement, dated as
            of the Closing Date, to which this Agreement is attached.

           

          “Anti-Corruption Laws” means laws, regulations, or orders relating to anti-bribery
            or anti-corruption (governmental or commercial), including, without limitation, the U.S. Foreign Corrupt Practices Act of 1977, as amended; the UK Bribery Act 2010; and applicable laws, regulations, or orders enacted to implement the OECD
            Convention on Combatting Bribery of Foreign Public Officials in International Business Transactions and the UN Convention against Corruption.

           

          “Applicable Account” means, with respect to any payment to be made to the
            Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

           

          “Applicable Creditor” has the meaning assigned to such term in Section 9.14(b).

           

          “Applicable Percentage” means, in respect of the Revolving Facility, with respect to
            any Revolving Lender at any time, the percentage (carried out to the ninth decimal place) of the Revolving Facility represented by such Revolving Lender’s Revolving Commitments at such time, subject to adjustment as provided in Section 2.22. If the commitment of each Revolving Lender to make Revolving Loans and the obligation of the L/C Issuers to make L/C Credit Extensions have been terminated pursuant to Section 7.01, or if the Revolving Commitments have otherwise expired in full, then the Applicable Percentage of each Revolving Lender in respect of the Revolving Facility shall be
            determined based on the Applicable Percentage of such Revolving Lender in respect of the Revolving Facility most recently in effect, giving effect to any subsequent assignments.

           

          “Applicable Rate” means,
            for any day a rate equal to:

           

          (a) with respect to the Refinancing Term Loans (i) until delivery of a Compliance Certificate with respect to the first full fiscal quarter
            ending after the Closing Date, (x) 1.50% per annum for ABR Loans and (y) 2.50% per annum for
            Eurocurrency Loans and (b) thereafter, the following percentages per annum, based upon the First Lien Net Leverage Ratio as of the most recently ended Test Period:

           

          	
                  Category

                	 	
                  First Lien Net Leverage Ratio

                	 	
                  Refinancing

                  Term Loan

                  ABR Spread

                	 	 	
                  Refinancing

                  Term Loan

                  Eurocurrency

                  Spread

                	 
	 	
                  1

                	 	
                  Greater than 1.75x

                	 	 	
                  1.50

                	
                  %

                	 	 	
                  2.50

                	
                  %

                
	 	
                  2

                	 	
                  Less than or equal to 1.75x

                	 	 	
                  1.25

                	
                  %

                	 	 	
                  2.25

                	
                  %

                

           

          
            4

            
              

          

          (b) with respect to the Initial Revolving Facility and Letter of Credit Fees for standby Letters of Credit (i) until delivery of a Compliance
            Certificate with respect to the first full fiscal quarter ending after the Closing Date, (x) 1.25% per annum for ABR Loans, (y) 2.25% per annum for Eurocurrency Loans and (z) 2.25% per annum for Letter of Credit Fees and (ii) thereafter, the following
            percentages per annum, based upon the First Lien Net Leverage Ratio as of the most recently ended Test Period:

           

          	
                  Category

                	 	
                  First Lien Net Leverage

                  Ratio

                	 	
                  Initial

                  Revolving

                  Loan ABR Spread

                	 	 	
                  Initial

                  Revolving

                  Loan

                  Eurocurrency

                  Spread and

                  Letter of

                  Credit Fees

                	 	 	
                  Commitment

                  Fee Rate

                	 
	 	
                  1

                	 	
                  Greater than 1.75x

                	 	 	
                  1.25

                	
                  %

                	 	 	
                  2.25

                	
                  %

                	 	 	
                  0.375

                	
                  %

                
	 	
                  2

                	 	
                  Less than or equal to 1.75x and greater than 1.25x

                	 	 	
                  1.00

                	
                  %

                	 	 	
                  2.00

                	
                  %

                	 	 	
                  0.250

                	
                  %

                
	 	
                  3

                	 	
                  Less than or equal to 1.25x

                	 	 	
                  0.75

                	
                  %

                	 	 	
                  1.75

                	
                  %

                	 	 	
                  0.250

                	
                  %

                

          

          

          For purposes of the foregoing, each change in the Applicable Rate resulting from a change in the First Lien Net Leverage Ratio shall be
            effective during the period commencing on and including the Business Day following the date of delivery to the Administrative Agent of the applicable consolidated financial statements pursuant to Section

                5.01(a) or Section 5.01(b) (and a related Compliance Certificate) indicating such change and ending on the date immediately preceding the effective date of the next
            such change.

           

          Notwithstanding anything to the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined
            before the date on which all Loans have been repaid and all Commitments have been terminated that the First Lien Net Leverage Ratio set forth in any Compliance Certificate delivered to the Administrative Agent is inaccurate for any reason and
            the result thereof is that the Lenders received interest or fees for any period based on an Applicable Rate that is less than that which would have been applicable had the First Lien Net Leverage Ratio been accurately determined, then, for all
            purposes of this Agreement, the Applicable Rate for any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined First Lien Net
            Leverage Ratio for such period, and any shortfall in the interest or fees theretofore paid by the Borrower for the relevant period as a result of the miscalculation of the First Lien Net Leverage Ratio shall be deemed to be (and shall be) due
            and payable, at the time the interest or fees for such period were required to be paid; provided that notwithstanding the foregoing, so long as an Event of Default described in Section 7.01(g) or (h) has not occurred (and in the case of any such Event of Default, such shortfall shall be due
            automatically), such shortfall shall be due and payable within five Business Days following the written demand therefor by the Administrative Agent and no Default or Event of Default shall be deemed to have occurred as a result of such
            non-payment or inaccurate certificate until the expiration of such five Business Day period and no amounts shall be payable at the Default Rate in respect of any such interests or fees.

           

          
            5

            
              

          

          In addition, and notwithstanding the foregoing, the Applicable Rate shall be based on the rates per annum set forth in Category 1 (A) for
            Initial Revolving Loans if Holdings fails to deliver the consolidated financial statements required to be delivered pursuant to Section 5.01(a) or Section 5.01(b) or any Compliance Certificate required to be delivered pursuant hereto, in each case within the time periods specified
            herein for such delivery, during the period commencing on and including the day of the occurrence of a Default resulting from such failure and until the delivery thereof, or (B) after the occurrence and during the continuation of any Event of
            Default.

           

          Notwithstanding the foregoing, with respect to any ABR Loan or Eurocurrency Loan that is any Loan (other than Refinancing Term Loans and Initial
            Revolving Loans) the “Applicable Rate” shall mean the applicable rate per annum set forth in the Incremental Facility Amendment or other amendment hereto establishing such Class of Loans.

           

          “Approved Bank” has the meaning assigned to such term in the definition of “Cash
            Equivalents.”

           

          “Approved Fund” means, with respect to any Lender, any Person (other than a natural
            person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities and is administered, advised or managed by (a) such Lender, (b) any
            Affiliate of such Lender or (c) any entity or any Affiliate of any entity that administers, advises or manages such Lender.

           

          “ASIC” means the Australian Securities and Investments
            Commission.

           

          “Asset Sale and Recovery Event Prepayment Percentage” shall mean, 100%; provided that if, at the time a prepayment shall be due pursuant to Section 2.11(b)(i), Holdings or the Borrower
            shall have delivered a certificate of a Responsible Officer of the Borrower to the Administrative Agent certifying that on a Pro Forma Basis (i) the First Lien Net Leverage Ratio is less than or equal to 3.00 to 1.00 and greater than 2.75 to
            1.00, such percentage shall instead be 50% and (ii) the First Lien Net Leverage Ratio is less than or equal to 2.75 to 1.00, such percentage shall instead be zero.

           

          “Assignment and Assumption” means an assignment and assumption entered into by a
            Lender and an Eligible Assignee (with the consent of any Person whose consent is required by Section 9.04), or as otherwise required to be entered into under the terms of this
            Agreement, substantially in the form of Exhibit B or any other form reasonably approved by the Administrative Agent.

           

          “Australian Dollars” means the lawful currency of Australia.

           

          “Audited Financial Statements” means the audited consolidated balance sheets of
            Holdings and its consolidated subsidiaries for the fiscal years ended December 31, 2017, December 31, 2018 and December 25, 2019, and the related consolidated statements of income and cash flows of Holdings and its consolidated subsidiaries,
            including the notes thereto.

           

          
            6

            
              

          

          “Australian General Security Deed” means (i) the Australian law General Security
            Deed, dated as of September 22, 2017, among certain of the Australian Loan Parties from time to time party thereto as grantors and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right,
            title and interest in its capacity as collateral agent thereunder in accordance with the Agency Successor Agreement) as the collateral agent, (ii) the Australian law General Security Deed dated as of 22 February 2019, among certain of the
            Australian Loan Parties from time to time party thereto as grantors and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent
            thereunder in accordance with the Agency Successor Agreement) as the collateral agent and (iii) the Australian law General Security Deed, dated as of 30 August 2019, among certain of the Australian Loan Parties from time to time party thereto
            as grantors and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance with the Agency Successor
            Agreement) as the collateral agent, as the same may be amended, restated, supplemented or otherwise modified from time to time in accordance with their respective terms.

           

          “Australian GST Act” means the Australian A New Tax System (Goods and Services Tax)
            Act 1999 (Cth).

           

          “Australian GST Group” means a GST Group as defined in Australian GST Act.

           

          “Australian Loan Party” means a Loan Party
            incorporated, organized or otherwise formed in the Commonwealth of Australia.

           

          “Australian Mining Mortgage” means that certain Australian law Mining Mortgage,
            dated as of September 22, 2017 between Tronox Management Pty Ltd, a company formed under the laws of Australia as the mortgagor and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s
            right, title and interest in its capacity as collateral agent thereunder in accordance with the Australian Mining Mortgage Transfer Documentation and the Agency Successor Agreement) as the mortgagee, as the same may be amended, restated,
            supplemented or otherwise modified from time to time in accordance with its terms.

           

          “Australian Mining Mortgage Transfer Documentation” means in relation to the
            Australian Mining Mortgage the prescribed transfer form (Form 23) under the Mining Act 1978 (WA) to be signed by the Existing Administrative Agent and the New
            Administrative Agent.

           

          “Australian PPS Law” means (a) the Personal Property Securities Act 2009 (Cth) of Australia and any regulation made at any time under the Personal Property Securities Act 2009 (Cth)

            of Australia, including the Personal Property Securities Regulations 2010 (Cth) of Australia (each as amended from time to time); and (b) any amendment made at any time
            to any other legislation as a consequence of a law or regulation referred to in clause (a).

           

          “Australian Security Trust Deed” means the Australian law security trust deed poll,
            dated as of September 22, 2017, by the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance with the Agency
            Successor Agreement) as collateral agent, as the same may be amended, restated, supplemented or otherwise modified from time to time in accordance with its terms.

           

          “Australian Security Trustee” has the meaning assigned to such term in Section 9.23(a).

           

          
            7

            
              

          

          “Australian Security Documents” means, collectively each Australian General Security
            Deed, the Australian Specific Security Deed, the Australian Mining Mortgage, the Australian Security Trust Deed and any other Australian law governed document pursuant to which a security interest is created over assets or properties of the
            Australian Loan Parties or located in Australia.

           

          “Australian Specific Security Deed” means the Australian law Specific Security Deed,
            dated as of 1 April 2019 between Tronox Investments Holdings Limited, a company formed under the laws of England and Wales as the grantor, and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral
            Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance with the Agency Successor Agreement) as collateral agent, as the same may be amended, restated, supplemented or otherwise modified from time to time
            in accordance with its terms.

           

          “Australian Subsidiary” means each Australian Loan Party and each other Subsidiary
            of Holdings incorporated, organized or otherwise formed in the Commonwealth of Australia.

           

          “Australian TAA” means the Taxation Administration Act 1953 (Cth).

           

          “Australian Tax Act” means the Australian Income Tax Assessment Act 1936 (Cth) or
            the Australian Income Tax Assessment Act 1997 (Cth) (as applicable)).

           

          “Australian Tax Consolidated Group” means a “consolidated group” or “MEC group” (as
            defined in the Australian Tax Act).

           

          “Auto-Extension Letter of Credit” as defined in Section 2.4(b)(iii).

           

          “Auto-Reinstatement Letter of Credit” as defined in Section 2.4(b)(iv).

           

          “Available Amount” means, at any date of determination (the “Determination Date”), a cumulative amount equal to (without duplication):

           

          (a)         The greater of
                (i) $125,000,000 and (ii) 20.0% of Consolidated EBITDA for the most recently ended Test Period, plus

           

          (b)         50.0% of
                Consolidated Net Income for the period (taken as one accounting period) commencing on June 30, 2017 to the end of the most recently ended fiscal quarter for which internal financial statements of Holdings are available (or, if such
                Consolidated Net Income for such period is a deficit, less 100% of such deficit) (this paragraph (b), the “Growth Amount”); provided
                that for purposes of calculating the Growth Amount, 50% of Consolidated Net Income for the accounting period commencing on June 30, 2017 to December 31, 2020 shall be equal to $231,445,553, plus

           

          (c)       100% of the
                aggregate net cash proceeds and the fair market value of property (other than cash) received by Holdings since the Closing Date from:

           

          (i)           a
                contribution to its common equity capital (including any contribution to its common equity from any direct or indirect Parent Entity with the proceeds of any issue or sale by such Parent Entity of its Equity Interests); or

           

          
            8

            
              

          

          (ii)          from the
                issuance of the Equity Interests of Holdings;

           

          provided that this clause (c) will
              not include (i) net cash proceeds to the extent such net cash proceeds have been used to incur Contribution Indebtedness and (ii) proceeds from (w) Disqualified Equity Interests, (x) Equity Interests sold to a Restricted Subsidiary of
              Holdings, (y) Equity Interests sold pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement of Holdings or a Restricted Subsidiary to the extent such net cash proceeds are
              applied to any other basket or exception under this Agreement or (z) any exercise of the cure right set forth in Section 7.03; plus

           

          (d)         100% of the
                aggregate principal amount or liquidation preference, as applicable, of Indebtedness or Disqualified Equity Interests of Holdings or any Restricted Subsidiary (other than Disqualified Equity Interests or debt securities issued or sold to a
                Restricted Subsidiary of Holdings), in each case that have been converted into or exchanged for Qualified Equity Interests of Holdings or any direct or indirect Parent Entity; plus

           

          (e)         100% of the
                aggregate amount of cash proceeds and the fair market value of property (other than cash) received by Holdings or a Restricted Subsidiary from:

           

          (i)          the sale or
                disposition (other than to Holdings or a Restricted Subsidiary) of Investments made after the Closing Date the permissibility of which was contingent upon the utilization of the Available Amount and from repayments, repurchases and
                redemptions of such Investments from Holdings and its Restricted Subsidiaries by any Person (other than Holdings or a Restricted Subsidiary), in an amount not to exceed the initial amount of the Investment made using the Available Amount;

           

          (ii)         a return,
                profit, distribution or similar amount from an Investment made after the Closing Date the permissibility of which was contingent upon the utilization of the Available Amount to the extent that such amounts were not otherwise included in
                Consolidated Net Income for such period) (to the extent not otherwise used to increase amounts that otherwise would be permitted to be invested hereunder);

           

          (iii)          the sale
                (other than to Holdings or any Restricted Subsidiary) of the Equity Interests of an Unrestricted Subsidiary, in an amount not to exceed the amount invested in such Unrestricted Subsidiary using the Available Amount;

           

          (iv)         a
                distribution, dividend or other return on capital from an Unrestricted Subsidiary in an amount not to exceed the amount invested in such Unrestricted Subsidiary using the Available Amount to the extent that such amounts were not otherwise
                included in Consolidated Net Income for such period;

           

          (v)          any Investment
                in an Unrestricted Subsidiary that subsequently becomes a Restricted Subsidiary or that has been merged, amalgamated or consolidated with, or is liquidated, wound up or dissolved into, Holdings or any Restricted Subsidiary, in an amount not
                to exceed the amount invested in such Unrestricted Subsidiary using the Available Amount; and

           

          
            9

            
              

          

          (vi)        the fair
                market value of the assets of an Unrestricted Subsidiary that have been distributed or transferred to Holdings or any Restricted Subsidiary, in an amount not to exceed the amount invested in such Unrestricted Subsidiary using the Available
                Amount, plus

           

          (f)          the aggregate
                amount as of such date of any Retained Declined Proceeds since the Closing Date.

           

          “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such
            Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from
            the definition of “Interest Period” pursuant to clause (f) of Section 2.14.

          

          

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

           

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

           

          “Basel III” means, collectively, those certain
            agreements on capital requirements, a leverage ratio and liquidity standards contained in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems,” “Basel III: International Framework for Liquidity Risk
            Measurement, Standards and Monitoring,” and “Guidance for National Authorities Operating the Countercyclical Capital Buffer,” each as published by the Basel Committee on Banking Supervision in December 2010 (as revised from time to time), and
            as implemented by a Lender’s primary banking regulatory authority.

           

          “Benchmark” means, initially, LIBOR; provided that if a Benchmark Transition Event,
            a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement
            to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (c) of Section  2.14.

          

          

          “Benchmark Replacement” means, for any Available Tenor, the first alternative set forth

          in the order below that can be determined by the Administrative Agent in consultation with the Borrower for the applicable Benchmark Replacement Date:

           

            

          
            10

            
              

          

          (1) the sum of: (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;

          

          

          (2) the sum of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;

          

          

          (3) the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the
            then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii)
            any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar denominated broadly syndicated credit facilities at such time and (b) the related Benchmark
            Replacement Adjustment;

          

          

          provided; that, in the case of
              clause (1), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion and in consultation with
              the Borrower; provided further, that, notwithstanding anything to the contrary in this Agreement or in any other Loan Document, upon the occurrence of a Term SOFR Transition Event, and the delivery of a Term SOFR Notice, on the applicable
              Benchmark Replacement Date the “Benchmark Replacement” shall revert to and shall be deemed to be the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (1) of this definition (subject to the
              proviso in (i) and (ii) above). If the Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the applicable floor, the Benchmark Replacement will be deemed to be the applicable floor for the purposes
              of this   Agreement and the other Loan Documents.

          

          

          “Benchmark Replacement Adjustment” means, with respect to any replacement of the
            then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

          

          

          (1) for purposes of clauses (1) and (2) of the definition of “Benchmark Replacement,” the first alternative set forth in the order below that
            can be determined by the Administrative Agent:

          

          

          (a) the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or
            negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Benchmark with the applicable
            Unadjusted Benchmark Replacement for the applicable Corresponding Tenor;

          

          

          (b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark
            Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the
            applicable Corresponding Tenor and

           

            

          
            11

            
              

          

          (2) for purposes of clause (3) of the definition of “Benchmark (2) Replacement,” 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 for the applicable Corresponding Tenor 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 such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the
            applicable Benchmark Replacement Date 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 such Benchmark with the
            applicable Unadjusted Benchmark Replacement for U.S. dollar denominated syndicated credit facilities;

          

          

          provided that, in the case of clause
              (1) above, such adjustment is displayed on a screen or

          other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable
            discretion and in consultation with the Borrower.

          

          

          “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark
            Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates
            and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters)
            that the Administrative Agent decides, in its reasonable discretion and in consultation with the Borrower, 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 for U.S. dollar denominated broadly syndicated credit facilities (or, if the Administrative Agent decides in its  reasonable discretion that adoption of any
            portion of such market practice is not administratively feasible or if the Administrative Agent determines, in consultation with the Borrower, that no market practice for the administration of such Benchmark Replacement exists, in such other
            manner of administration as the Administrative Agent, in consultation with the Borrower, decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

          

          

          “Benchmark Replacement Date” means the earliest to occur of the following events
            with

          respect to the then-current Benchmark:

          

          

          (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 such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such
            Benchmark (or such component thereof);

           

            

          
            12

            
              

          

          (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;

          

          

          (3) in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the date a Term SOFR Notice is provided to the Lenders
            and the Borrowers pursuant to Section 2.14; or

          

          

          (4) in the case of an Early Opt-in Election, the sixth (6th) Business (5) Day after the date notice of such Early Opt-in Election is provided to
            the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of  objection to
            such Early Opt-in Election from Lenders comprising the Required Lenders.

          

          

          For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date  occurs on the same day as, but earlier than, the
            Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such  determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the
            case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the
            calculation thereof).

          

          

          “Benchmark Transition Event” means the occurrence of one or more of the following
            events with respect to the then-current Benchmark:

          

          

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

          

          

          (2) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
            component used in the calculation thereof), the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a
            resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which
            states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement
            or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

          

          

          (3) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
            component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative.

           

            

          
            13

            
              

          

          For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement
            or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

          

          

          “Benchmark Unavailability Period” means the period (if any) (x) beginning at the
            time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in
            accordance with Section 2.14 and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in
            accordance with Section 2.14.

          

          

          “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 or (c) any Person whose assets include (for purposes of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA 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”.

           

          “Big Boy Letter” means a letter from a Lender
            acknowledging that (1) an assignee may have information regarding Holdings, the Borrower and any Subsidiary of the Borrower, their ability to perform the Secured Obligations or any other material information that has not previously been
            disclosed to the Administrative Agent and the Lenders (“Excluded Information”), (2) the Excluded Information may not be available to such Lender, (3) such Lender has independently and
            without reliance on any other party made its own analysis and determined to assign Term Loans to such assignee pursuant to Section 9.04(g) or Section 9.04(l) notwithstanding its lack of knowledge of the Excluded Information and (4) such Lender waives and releases any claims it may have against the Administrative Agent, such assignee, Holdings, the Borrower
            and the Subsidiaries of the Borrower with respect to the nondisclosure of the Excluded Information; or otherwise in form and substance reasonably satisfactory to such assignee, the Administrative Agent and assigning Lender.

           

          “Board of Directors” means, with respect to any Person, (a) in the case of any
            corporation, the board of directors of such Person or any committee thereof duly authorized to act on behalf of such board, (b) in the case of any limited liability company, the board of managers, board of directors, manager or managing member
            of such Person or the functional equivalent of the foregoing, (c) in the case of any partnership, the board of directors, board of managers, manager or managing member of a general partner of such Person or the functional equivalent of the
            foregoing and (d) in any other case, the functional equivalent of the foregoing.

           

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

           

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

           

          
            14

            
              

          

          “Borrowing” means Loans of the same Class and Type,
            made, converted or continued on the same date in the same currency and in the case of Eurocurrency Loans, as to which a single Interest Period is in effect.

           

          “Borrowing Request” means a request by the Borrower for a Borrowing in accordance
            with Section 2.03 and substantially in the form attached hereto as Exhibit C or such other form as may be approved by the
            Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

           

          “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; provided that, when used in connection
            with:

           

          (a)         a Eurocurrency
                Loan denominated in Dollars, 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, and

           

          (b)          a Eurocurrency
                Loan denominated in Euros, the term “Business Day” shall also exclude any day is not a TARGET Day.

           

          “Capital Expenditures” means, for any period, the additions to property, plant and
            equipment and other capital expenditures of Holdings and the Restricted Subsidiaries that are (or should be) set forth in a consolidated statement of cash flows of Holdings for such period prepared in accordance with GAAP.

           

          “Capital Lease Obligation” means an obligation that is
            a Capitalized Lease; and the amount of Indebtedness represented thereby at any time shall be the amount of the liability in respect thereof that would at that time be required to be capitalized on a balance sheet in accordance with GAAP in
            accordance with Section 1.04.

           

          “Capitalized Leases” means all leases that have been or
            should be, in accordance with GAAP in accordance with Section 1.04, recorded as capitalized leases.

           

          “Cash Collateralized” means either (a) providing cash collateral (pursuant to
            documentation reasonably satisfactory to the Administrative Agent (including that the Administrative Agent has a first priority perfected Lien in such cash collateral), including provisions that specify that the Letter of Credit Fees and all
            commissions, fees, charges and expenses provided for in Section 2.04 of this Agreement (including any Fronting Fees) will continue to accrue while the Letters of Credit are
            outstanding) to be held by the Administrative Agent for the benefit of the Lenders in an amount equal the sum of (i) 102% of the then existing L/C Exposure denominated in dollars, and (ii) 105% of the then existing L/C Exposure denominated in
            any other currency, (b) delivering to the Administrative Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to the Administrative Agent and Issuing Bank, terminating all
            of such beneficiaries’ rights under the Letters of Credit, or (c) providing the Administrative Agent with a standby letter of credit, in form and substance reasonably satisfactory to the Administrative Agent, from a nationally recognized
            commercial bank in an amount equal to sum of (i) 102% of the then existing L/C Exposure denominated in dollars, and (ii) 105% of the then existing L/C Exposure denominated in any other currency (it being understood that the Letter of Credit Fee
            and all Fronting Fees set forth in this Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

           

          
            15

            
              

          

          “Cash Equivalents” means any of the following, to the
            extent owned by Holdings or any Restricted Subsidiary:

           

          (a)        Dollars, Euros,
              Sterling, Australian Dollars, and such other currencies held by it from time to time in the ordinary course of business;

           

          (b)       readily
                marketable obligations issued or directly and fully guaranteed or insured by the government or any agency or instrumentality of (i) the United States or (ii) any member nation of the European Union rated A-2 (or the equivalent thereof) or
                better by S&P or P-2 (or the equivalent thereof) or better by Moody’s, having average maturities of not more than 36 months from the date of acquisition thereof (or, if at any time neither Moody’s nor S&P shall be rating such
                obligations, an equivalent rating from another nationally recognized statistical rating agency selected by Holdings); provided that the full faith and credit of the United States
                or such member nation of the European Union is pledged in support thereof;

           

          (c)         time deposits
                with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) is a Lender or (ii) has combined capital and surplus of at least (x) $250,000,000 in the case of U.S. banks and (y) $100,000,000 (or the
                Dollar Equivalent as of the date of determination) in the case of non-U.S. banks (any such bank meeting the requirements of clause (i) or (ii) above being an “Approved Bank”), in each case with average maturities of not more than 36 months from the date of acquisition thereof;

           

          (d)          commercial
                paper and variable or fixed rate notes issued by an Approved Bank (or by the parent company thereof) or any variable or fixed rate note issued by, or guaranteed by, a corporation rated A-2 (or the equivalent thereof) or better by S&P or
                P-2 (or the equivalent thereof) or better by Moody’s, in each case with average maturities of not more than 36 months from the date of acquisition thereof;

           

          (e)        repurchase
              agreements for underlying securities of the types described in clauses (b), (c) and (d) above and (f) and (g) below entered into with any Approved Bank;

           

          (f)          marketable
                short-term money market and similar highly liquid funds either (i) having assets in excess of (x) $250,000,000 in the case of U.S. banks or other U.S. financial institutions and (y) $100,000,000 (or the Dollar Equivalent as of the date of
                determination) in the case of non-U.S. banks or other non-U.S. financial institutions or (ii) having a rating of at least A-2 or P-2 from either S&P or Moody’s (or, if at any time neither S&P nor Moody’s shall be rating such
                obligations, an equivalent rating from another nationally recognized rating service);

           

          
            16

            
              

          

          (g)       securities with
                average maturities of 36 months or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, or by any political subdivision or taxing authority of any such state,
                commonwealth or territory or by any foreign government having an investment grade rating from either S&P or Moody’s (or the equivalent thereof);

           

          (h)        investments with
              average maturities of 36 months or less from the date of acquisition in mutual funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s;

           

          (i)         instruments
                equivalent to those referred to in clauses (a) through (h) above denominated in Euros, pounds Sterling or any other foreign currency comparable in credit quality and tenor to
                those referred to above and customarily used by corporations for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business conducted by any Subsidiary organized
                in such jurisdiction;

           

          (j)         investments,
                classified in accordance with GAAP as current assets, in money market investment programs that are registered under the Investment Company Act of 1940 or that are administered by financial institutions having capital of at least
                $250,000,000, and, in either case, the portfolios of which are limited such that substantially all of such investments are of the character, quality and maturity described in clauses (a)
                through (i) of this definition;

           

          (k)         demand deposit
                accounts holding cash;

           

          (l)          other
                short-term investments of a type analogous to the foregoing utilized by Foreign Subsidiaries;

           

          (m)         interest bearing
              instruments with a maximum maturity of 180 days in respect of which the obligor is a G8 government or other G8 governmental agency or a G8 financial institution with credit ratings from S&P of at least “A-2” or the equivalent thereof or
              from Moody’s of at least “P-2” or the equivalent thereof; and

           

          (n)          investment
                funds investing at least 90% of their assets in securities of the types described in clauses (a) through (m) above.

           

          Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth above, provided that such amounts are converted into any currency listed above as promptly as practicable and in any event within 20 Business Days following the receipt of such
            amounts.

           

          “Cash Interest Coverage Ratio” means, with respect to any Test Period, the ratio of
            (a) Consolidated EBITDA of Holdings and the Restricted Subsidiaries for such Test Period to (b) Consolidated Cash Interest Charges for such Test Period.

           

          
            17

            
              

          

          “Cash Management Obligations” means (a) obligations in respect of any treasury
            management services, overdraft and related liabilities arising from treasury, depository, cash pooling arrangements and cash management services or any automated clearing house transfers of funds and (b) other obligations in respect of netting
            services, employee credit, commercial credit card, debit card, stored value card or purchase card programs and similar arrangements.

           

          “Cash Management Services” has the meaning assigned to such term in the definition
            of “Secured Cash Management Obligations.”

           

          “CFC” means a “controlled foreign corporation” within
            the meaning of Section 957 of the Code.

           

          “Change in Control” means:

           

          (1) at any time after the date hereof, (i) any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) (a) shall
            have acquired beneficial ownership or control of more than 50% on a fully diluted basis of the voting and/or economic interest in the Equity Interests of Holdings or (b) shall have obtained the power (whether or not exercised) to elect a
            majority of the members of the Board of Directors of Holdings; and (ii) Holdings shall cease to beneficially own and control, directly or indirectly, 100% on a fully diluted basis of the economic and voting interest in the Equity Interests of
            the Borrower; or

           

          (2) 30 days shall have passed since the occurrence of a “change in control” (or corresponding definition) under any agreement with respect to
            Material Indebtedness of Holdings or any other Loan Party.

           

          For purposes of this definition, (i) “beneficial ownership” shall be as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act, and (ii)
            the phrase Person or “group” is within the meaning of Section 13(d) or 14(d) of the Exchange Act, but excluding any employee benefit plan of such Person or “group” and its subsidiaries and any Person acting in its capacity as trustee, agent or
            other fiduciary or administrator of any such plan.

           

          “Change in Law” means (a) the adoption of any rule, regulation, treaty or other law
            after the date of this Agreement, (b) any change in any rule, regulation, treaty or other law or in the administration, interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) the making or
            issuance of any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that,
            notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and any requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) any requests,
            rules, guidelines or directives promulgated by the Bank of International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or United States or foreign regulatory authorities, in each case pursuant
            to Basel III, shall in each case shall be deemed to be a “Change in Law,” regardless of the date enacted, adopted, promulgated or issued after the date of this Agreement, but only to the extent the relevant increased costs or loss of yield
            would have been included if they had been imposed under applicable increased cost provisions, including, without limitation, for purposes of Section 2.15.

           

          
            18

            
              

          

          “Class” when used in reference to: (a) any Loan or Borrowing, refers to whether such
            Loan, or the Loans comprising such Borrowing, are Refinancing Term Loans, Initial Revolving Loans, Incremental Term Loans, Incremental Revolving Loans, Other Term Loans or Other Revolving Loans, (b) any Commitment, refers to whether such
            Commitment is an Refinancing Term Commitment, Initial Revolving Commitment, Incremental Revolving Loan Commitment, Incremental Term Loan Commitment, Other Revolving Commitment or Other Term Commitment and (c) any Lender, refers to whether such
            Lender has a Loan or Commitment with respect to a particular Class of Loans or Commitments.  Other Term Commitments, Other Revolving Commitments, Other Term Loans, Other Revolving Loans, Incremental Term Loans and Incremental Revolving Loans
            that have different terms and conditions shall be construed to be in different Classes.

           

          “Closing Date” means March 11, 2021, which is the date on which the conditions
            specified in Section 4.01 and Section 4.02 are satisfied (or waived in accordance with Section 9.02).

           

          “Closing Date Refinancing” has the meaning assigned to such term in the recitals
            hereto.

           

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

           

          “Collateral” means any and all assets, whether real or
            personal, tangible or intangible, on which Liens are purported to be granted pursuant to the Collateral Agreements as security for the Secured Obligations.

           

          “Collateral Agent” means HSBC, in its capacity as
            collateral agent under the Loan Documents, and its successors and assigns in such capacity; provided that until the effectiveness of the Agency Successor Agreement and the
            consummation of the Agency Succession Conditions, the Collateral Agent shall be the Existing Administrative Agent and Collateral Agent for all purposes hereunder.

           

          “Collateral Agreements” means the U.S. Security Documents, the UK Security
            Documents, the Australian Security Documents, the Dutch Security Documents, and each other security agreement or pledge agreement, including any intellectual property security agreement executed and delivered pursuant to the Collateral and
            Guarantee Requirement, Section 5.13, Section 5.14 or Section 5.17
            to secure any of the Secured Obligations, each substantially in the form agreed between the relevant grantor of Collateral and the Collateral Agent.

           

          “Collateral and Guarantee Requirement” means, at any time (subject, with respect to
            any Non-US Loan Party or Foreign Subsidiary only, to the Agreed Security Principles), the requirement that:

           

          (a)         the
                Administrative Agent shall have received from (i) Holdings and each Restricted Subsidiary (other than an Excluded Subsidiary) either (x) a counterpart of the Guarantee Agreement duly executed and delivered on behalf of such Person or (y) in
                the case of any Restricted Subsidiary that becomes or is required to become a Loan Party after the Closing Date (including by ceasing to be an Excluded Subsidiary), a supplement to the Guarantee Agreement, in the form specified therein,
                duly executed and delivered on behalf of such Restricted Subsidiary, which as of the Closing Date shall include each Loan Party listed on Schedule 1.01(a) (the Persons in the
                preceding clauses (x) and (y) collectively, the “Guarantors’) (ii) Holdings and each Restricted Subsidiary (other than an Excluded Subsidiary) the Collateral Agreements described
                in Section 4.01(c), duly executed and delivered on behalf of such Person, in each case under this clause (a) together
                with, in the case of any such Loan Documents executed and delivered after the Closing Date (including in the case of any Restricted Subsidiary that becomes or is required to become a Loan Party after the Closing Date (including by ceasing
                to be an Excluded Subsidiary)), documents and, to the extent reasonably requested by the Administrative Agent, opinions of the type referred to in Section 4.01, and (iii) an
                executed joinder to the Intercreditor Agreement in substantially the form attached as an exhibit thereto as required thereby;

           

          
            19

            
              

          

          (b)       all outstanding
                Equity Interests of the Borrower and the Restricted Subsidiaries (other than any Equity Interests constituting Excluded Assets) that are directly owned by or on behalf of any Loan Party shall have been pledged pursuant to the applicable
                Collateral Documents and (except in the case of Equity Interests of Immaterial Subsidiaries), the Collateral Agent shall have received certificates or other instruments representing all such Equity Interests (if any), together with undated
                stock powers or other instruments of transfer with respect thereto endorsed in blank, in each case, to the extent possession or control of certificates or other instruments is necessary or beneficial to the perfection or priority of the
                Collateral Agent’s security interest in such Equity Interests;

           

          (c)          other than to
                the extent constituting an Excluded Asset, if any Indebtedness for borrowed money of Holdings, the Borrower or any other Subsidiary in a principal amount of $20,000,000 or

                more (other than intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of Holdings and its subsidiaries or to the extent such pledgor would violate applicable law), is
                owing by such obligor to any Loan Party and if such Indebtedness shall be evidenced by a promissory note, such promissory note shall have been pledged pursuant to the applicable  U.S. Security Agreement (or other Collateral Agreement to the
                extent required thereby) and the Collateral Agent shall have received all such promissory notes, together with undated instruments of transfer with respect thereto endorsed in blank;

           

          (d)         in respect of
                each Collateral Agreement, all certificates, agreements, documents and instruments, including Uniform Commercial Code financing statements and intellectual property security agreements, required by the Collateral Agreements Documents,
                Requirements of Law and reasonably requested by the Administrative Agent to be filed, delivered, registered or recorded to create the Liens intended to be created by the Collateral Agreements and this Agreement and perfect such Liens to the
                extent required by, and with the priority required by, the Collateral Agreements shall have been filed, registered or recorded or delivered to the Administrative Agent in proper form for filing, registration or recording;

           

            

          (e)        With respect to
                Material U.S. Real Property owned by the Borrower or applicable Guarantor on or after the Closing Date, the Administrative Agent shall have received from the Borrower and each applicable Guarantor:

           

          (i)          duly executed
                and (where customary in an applicable jurisdiction) notarized Mortgages, in each case in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering each Mortgaged Property, together with all related
                title documents (if any) and any such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law, in each case in form and substance reasonably
                satisfactory to the Borrower or applicable Guarantor and Collateral Agent;

           

          
            20

            
              

          

          (ii)         customary
                opinions of counsel addressed to the Collateral Agent for its benefit and for the benefit of the Lenders of (a) local counsel in each jurisdiction where the Mortgaged Property is located with respect to the enforceability and proper form
                for recording of the Mortgages and other matters customarily included in such opinions and (b) counsel for the Borrower regarding due authorization, execution and delivery of the Mortgages, in each case, in customary form and substance
                reasonably acceptable to the Collateral Agent;

          

          
          (iii)        (A) ALTA
                mortgagee title insurance policies with all endorsements reasonably requested by the Collateral Agent and to the extent available in each applicable jurisdiction at commercially reasonable rates or unconditional commitments therefor issued
                by one or more nationally recognized title companies reasonably satisfactory to the Collateral Agent with respect to each Mortgaged Property located in the United States encumbered by such Mortgages (each, a “Title Policy”), in amounts not less than the fair market value of each Mortgaged Property each in form and substance reasonably acceptable to the Collateral Agent, (B) evidence reasonably satisfactory to
                the Collateral Agent that such Loan Party has paid to the title company or to the appropriate governmental authorities all expenses and premiums of the title company and all other sums required in connection with the issuance of each Title
                Policy and all recording and stamp taxes (including mortgage recording and intangible taxes) payable in connection with recording the Mortgages for each Mortgaged Property in the appropriate real estate records and (C) such affidavits,
                certificates, information and instruments of indemnification as shall be required to induce the title insurance company to issue each Title Policy, with each such affidavit, certificate, and instrument of indemnification in form and
                substance reasonably satisfactory to the Borrower or applicable Guarantor and Collateral Agent;

           

          (iv)       (A) if any
                Mortgaged Property is not located in a Flood Zone, at least five Business Days prior to entering into such Mortgage, a completed  Flood Certificate, which Flood Certificate shall (x) be addressed to the Collateral Agent and (y) otherwise
                comply with the Flood Program or (B) if any Mortgaged Property is located in a Flood Zone, at least 45 days prior to entering into such Mortgage, (i) a completed  Flood Certificate, which Flood Certificate shall (x) be addressed to the
                Collateral Agent and (y) otherwise comply with the Flood Program, (ii) the Borrower’s written acknowledgement of receipt of written notification from the Collateral Agent (x) as to the existence of such Mortgaged Property and (y) as to
                whether the community in which each Mortgaged Property is located is participating in the Flood Program (a “Borrower Notice”) and (iii) if such Mortgaged Property is located in a
                Flood Zone and is located in a community that participates in the Flood Program, evidence that the Borrower has obtained a policy of flood insurance that is in compliance with all applicable requirements promulgated pursuant to the Flood
                Insurance Laws (“Evidence of Flood Insurance”); and

           

          
            21

            
              

          

          (v)         an ALTA survey
                prepared by a surveyor or engineer licensed to perform ALTA surveys in the jurisdiction where such Mortgaged Real Property is located of all Mortgaged Properties located in the United States certified to the Collateral Agent and any title
                companies issuing a Title Policy on such Mortgaged Properties; provided that, if the Borrower is able to obtain a “no change” affidavit acceptable to the title company and delivers such certificate to the title company to enable it to issue
                a title policy removing all standard survey exceptions which would otherwise have been raised by the title company as a result of the absence of a new survey for such real property, then a new survey shall not be required.

           

          (f)        With respect to
                Material Non-U.S. Real Property acquired after the Closing Date located in the Netherlands, the Borrower or applicable Guarantor shall grant to the Collateral Agent a Mortgage over such Material Non-U.S. Real Property pursuant to a Dutch
                Law Security Document substantially similar to the Dutch Mortgage;

           

          (g)        (i) With
                respect to Material Non-U.S. Real Property acquired after the Closing Date located in Australia, the Borrower or applicable Guarantor shall grant to the Collateral Agent a general lien over such Material Non-U.S. Real Property pursuant to
                an Australian General Security Deed; and (ii) with respect to Mining Property acquired after the Closing Date located in Australia, the Borrower or applicable Guarantor shall grant to the Collateral Agent a Mining Mortgage over each such
                Mining Property that has a Fair Market Value equal to or in excess of $20,000,000; and

           

          (h)          With respect
                to Material Non-U.S. Real Property acquired after the Closing Date located in the United Kingdom, the Borrower or applicable Guarantor shall grant to the Collateral Agent a floating lien over such Material Non-U.S. Real Property pursuant to
                a U.K. Security Document in form and substance reasonably satisfactory to the Collateral Agent.

           

          
            22

            
              

          

          Notwithstanding the foregoing provisions of this definition or anything in this Agreement or any other Loan Document to the contrary, (a) the
            foregoing provisions of this definition or any provision in this Agreement or any other Loan Agreement shall not require the creation or perfection of pledges of or security interests in, or the obtaining of title insurance, legal opinions or
            other deliverables with respect to, particular assets of the Loan Parties, or the provision of Guarantees by any Subsidiary (i) in respect of Domestic Subsidiaries, if such assets constitute Excluded Assets or such Subsidiary constitutes an
            Excluded Subsidiary, (ii) in respect of Holdings or any Foreign Subsidiary, if such Subsidiary constitutes an Excluded Subsidiary and other than in accordance with the Agreed Security Principles and/or (iii) if the grant or perfection of a
            security interest in such asset would (A) be prohibited by enforceable anti-assignment provisions of any applicable law (other than anti-assignment provisions included in general banking conditions), (B) violate the terms of any contract (to
            the extent binding on such property at the time of the acquisition thereof and not incurred in contemplation of such acquisition) (in each case, after giving effect to the applicable anti-assignment provisions of the UCC or other applicable
            law) or (C) trigger termination of any contract pursuant to any “change of control” or similar provision (to the extent binding on such property at the time of the acquisition thereof and not incurred in contemplation of such acquisition); it
            being understood that the Collateral shall include any proceeds and/or receivables (other than to the extent constituting Excluded Assets) arising out of any contract described in this clause
                (iii) to the extent the assignment of such proceeds or receivables is expressly deemed effective under the UCC or other applicable law (and in respect of any Non-US Loan Parties, is otherwise effective) notwithstanding the
            relevant prohibition, violation or termination right, (b) Liens required to be granted from time to time pursuant to the terms of this Agreement shall be subject to exceptions and limitations set forth in the Agreed Security Principles and in
            the Collateral Agreements as in effect on the Closing Date, (c) [reserved], (d) the Administrative Agent shall not be authorized to take any perfection actions with respect to assets of U.S. Loan Parties consisting of (A) commercial tort claims
            with a value less than $20,000,000, (B) Vehicles and other assets subject to certificates of title, (C) letter of credit rights that cannot be perfected by filing a
            financing statement under the UCC, (D) promissory notes evidencing debt for borrowed money in a principal amount individually or in an aggregate of less than $20,000,000 and (E) (i) the Equity Interests of any Immaterial Subsidiary and/or (ii)
            the Equity Interests of a Person that is not a subsidiary, which Person, if a subsidiary, would constitute an Immaterial Subsidiary, (e) no Loan Party shall be required to seek any landlord lien waiver, estoppel, warehouseman waiver or other
            collateral access or similar letter or agreement, (f) no Loan Party shall be required to enter into any deposit account control agreement or similar agreement (including any local law equivalent), (g) there shall be no actions required to be
            taken by the laws of France or any non-Qualified Jurisdiction under the Loan Documents in order to create any security interests in any assets or to perfect or make enforceable such security interests in any assets; (h) there shall be no
            Guaranties governed under the laws of any non-U.S. jurisdiction; (i) there shall be no Collateral Agreements (including security agreements and pledge agreements) governed under the laws of France or any non-Qualified jurisdiction, (j) there
            shall be no perfection actions required to be taken with respect to Intellectual Property under the laws of any non-U.S. jurisdiction and (k) in respect of any Subsidiary which is formed or acquired after the Closing Date, the provisions of
            this definition shall only apply on the date set forth in Section 5.13.

           

          The Administrative Agent (in its reasonable discretion) may grant extensions of time for the creation and perfection of security interests in or
            the obtaining of title insurance, legal opinions or other deliverables with respect to particular assets or the provision of any Guarantee by any Subsidiary (including extensions beyond the Closing Date, the timelines set forth in Schedule 5.17 or in the Collateral Agreements or in connection with assets acquired, or Subsidiaries formed or acquired, after the Closing Date) where it determines that such action cannot
            be accomplished without undue effort or expense by the time or times at which it would otherwise be required to be accomplished by this Agreement or the Collateral Agreements.

           

          “COMI” means the centre of main interests (as that term
            is used in Article 3(1) of the EU Insolvency Regulation).

           

          “Commitment” means, with respect to any Lender, its
            Initial Revolving Commitment, Incremental Revolving Loan Commitment, Other Revolving Commitment of any Class, Refinancing Term Commitment, Incremental Term Commitment, Other Term Commitment of any Class or any combination thereof (as the
            context requires).

           

          
            23

            
              

          

          “Commitment Fee Rate” means a percentage per annum equal to the Applicable Rate set
            forth in the “Commitment Fee Rate” column of the chart in the definition of “Applicable Rate.”

           

          “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.

           

          “Company Competitor” means any competitor of Holdings and/or any of its subsidiaries
            determined by Holdings in good faith.

           

          “Company Materials” has the meaning assigned to such term in Section 5.01.

           

          “Competitor Debt Fund Affiliate” means, with respect to any Company Competitor or
            any Affiliate thereof, any debt fund, investment vehicle, regulated bank entity or unregulated lending entity that is (i) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the
            ordinary course of business and (ii) managed, sponsored or advised by any person that is controlling, controlled by or under common control with the relevant Company Competitor or Affiliate thereof, but only to the extent that no personnel
            involved with the investment in the relevant Company Competitor (A) makes (or has the right to make or participate with others in making) investment decisions on behalf of, or otherwise cause the direction of the investment policies of, such
            debt fund, investment vehicle, regulated bank entity or unregulated entity or (B) except in its capacity as a Lender or potential lender, has access to any information (other than information that is publicly available) relating to Holdings,
            the Borrower and/or any entity that forms part of any of their respective businesses (including any of their respective subsidiaries).

           

          “Compliance Certificate” means a Compliance Certificate substantially in the form of
            Exhibit D or otherwise in form and substance reasonably satisfactory to the Administrative Agent.

           

          “Consolidated Cash Interest Charges” means, for any period, the total interest
            expense of Holdings and its Restricted Subsidiaries for such period determined on a consolidated basis net of any interest income, which shall be determined on a cash basis only and solely in respect of Indebtedness of the type described in the
            definition of Consolidated Total Debt and excluding, for the avoidance of doubt, (i) any non-cash interest expense and any capitalized interest, whether paid or accrued, (ii) the amortization of original issue discount resulting from the
            issuance of Indebtedness at less than par, (iii) amortization of deferred financing costs, debt issuance costs, commissions, fees and expenses (including agency costs, amendment, consent or other front end, one-off or similar non-recurring
            fees), (iv) any expenses resulting from discounting of indebtedness in connection with the application of recapitalization accounting or purchase accounting, (v) penalties or interest related to taxes and any other amounts of non-cash interest
            resulting from the effects of acquisition method accounting or pushdown accounting, (vi) the accretion or accrual of, or accrued interest on, discounted liabilities (other than Indebtedness) during such period, (vii) non-cash interest expense
            attributable to the movement of the mark-to-market valuation of obligations under hedging agreements or other derivative instruments pursuant to FASB Accounting Standards Codification No. 815-Derivatives and Hedging, (viii) any one-time cash
            costs associated with breakage in respect of Swap Agreements for interest rates, (ix) any payments with respect to make whole premiums, commissions or other breakage costs of any Indebtedness, (x) all non-recurring interest expense consisting
            of liquidated damages for failure to timely comply with registration rights obligations, all as calculated on a consolidated basis in accordance with GAAP and (xi) expensing of bridge, arrangement, structuring, commitment or other financing
            fees.

           

          
            24

            
              

          

          “Consolidated EBITDA” means, for any period, the
            Consolidated Net Income for such period, plus:

           

          (a)       without
              duplication and (other than clause (xii)) to the extent already deducted (and not added back) in arriving at such Consolidated Net Income, the sum of the following amounts for such period:

           

          (i)          total interest
                expense and, to the extent not reflected in such total interest expense, any losses on hedging obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such
                hedging obligations or such derivative instruments, and bank and letter of credit fees and costs of surety bonds in connection with financing activities (whether amortized or immediately expensed),

           

          (ii)         provision for
                taxes based on income, profits, revenue or capital, including federal, foreign and state income, franchise, and similar taxes based on income, profits, revenue or capital and foreign withholding taxes paid or accrued during such period
                (including in respect of repatriated funds) including penalties and interest related to such taxes or arising from any tax examinations,

           

          (iii)        depreciation,
                depletion and amortization (including  amortization of deferred financing fees or costs (including original issue discount)),

           

          (iv)         other
                non-cash charges (provided, in each case, that if any non-cash charges represent an accrual or reserve for potential cash items in any future period, (A) Holdings may determine not to add back such non-cash charge in the current period or
                (B) to the extent Holdings decides to add back such non-cash charge, the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent), and excluding amortization of a prepaid cash item
                that was paid in a prior period,

           

          (v)          any payments
                in the nature of compensation or expense reimbursement made to independent board members,

           

          (vi)         losses or
                discounts on sales of receivables and related assets in connection with any Permitted Receivables Financing,

           

          (vii)      cash receipts
                (or any netting arrangements resulting in reduced cash expenditures) not included in the calculation of Consolidated EBITDA in any prior period to the extent non-cash gains relating to such receipts were deducted in the calculation of
                Consolidated EBITDA pursuant to clause (c) below for any previous period and not added back,

           

          
            25

            
              

          

          (viii)     (A) any costs
                or expenses incurred or paid by Holdings (or any direct or indirect parent thereof) or any Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or long term
                incentive plan or agreement, any severance agreement or any stock subscription or shareholder agreement, and (B) any charge in connection with the rollover, acceleration or payout of equity interests held by management and members of the
                board of Holdings (or any direct or indirect parent thereof), in each case under this clause (B), to the extent any such cash charge is funded with net cash proceeds contributed
                to Holdings as a capital contribution or as a result of Net Proceeds of an issuance of Equity Interests (other than Disqualified Equity Interests, any “specified equity contribution” or any “excluded contribution” (other than any such
                excluded contribution designated for such purpose)) of Holdings,

           

          (ix)        any net
                pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts arising in prior periods, amortization of the unrecognized net obligation
                (and loss or cost) existing at the date of initial application of FASB Accounting Standards Codification 715, and any other items of a similar nature,

           

          (x)          charges
                attributable to, and payments of, legal settlements, fines, judgments or orders,

           

          (xi)          to the extent
                deducted in the calculation of Consolidated Net Income, earn-out obligation expense incurred in connection with any acquisition or other investment (including any acquisition or other investment consummated prior to the Closing Date) which
                is paid or accrued during the applicable period,

           

          (xii)      to the extent
                not otherwise included in Consolidated Net Income, proceeds of business interruption insurance in an amount representing the earnings for the applicable period that such proceeds are intended to replace (whether or not then received so long
                as Holdings in good faith expects to receive such proceeds within the next four fiscal quarters (it being understood that to the extent such proceeds are not actually received within such fiscal quarters, such proceeds shall be deducted in
                calculating Consolidated EBITDA for such fiscal quarters)),

           

          (xiii)          the amount
                of any charge or deduction associated with any Restricted Subsidiary that is attributable to any non-controlling interest or minority interest of any third party,

           

          (xiv)           charges,
                expenses or losses incurred in connection with any Tax Restructuring (in each case, whether or not consummated), and

           

          (xv)          charges
                relating to the sale of products in new locations, including, without limitation, start-up costs, initial testing and registration costs in new markets, the cost of feasibility studies, travel costs for employees engaged in activities
                relating to any or all of the foregoing and the allocation of general and administrative support in connection with any or all of the foregoing;

           

          
            26

            
              

          

          plus

           

            

          (b)         without
              duplication, the amount of “run rate” cost savings, operating expense reductions and synergies, from, or related to, mergers and other business combinations, acquisitions, investments, divestitures, dispositions, discontinuance of activities
              or operations and other specified transactions, restructurings, cost savings initiatives, operational changes and other initiatives (including, for the avoidance of doubt, acquisitions occurring prior to the Closing Date)  that are projected
              by Holdings in good faith to be realized as a result of actions that have been taken or initiated or are expected to be taken or initiated on or prior to the date that is eight fiscal quarters after the end of the relevant Test Period or, in
              the case of the Transactions, the Closing Date, (including restructuring and integration charges) (which cost savings shall be added to Consolidated EBITDA until fully realized and calculated on a Pro Forma Basis as though such cost savings
              had been realized on the first day of the relevant period), net of the amount of actual benefits realized from such actions (it being understood that “run rate” shall mean the full reasonably expected recurring benefit during the eight fiscal
              quarter period referred to above that is associated with the relevant action); provided that (A) such cost savings are factually supportable and reasonably identifiable and (B) no cost savings, operating expense reductions or synergies shall
              be added pursuant to this clause (b) to the extent duplicative of any expenses or charges relating to such cost savings, operating expense reductions or synergies that are included
              in clause (a) above or are excluded from Consolidated Net Income pursuant to clause (a) of the definition thereof;

           

          less

          (c)         without
              duplication and to the extent included in arriving at such Consolidated Net Income, the sum of the following amounts for such period:

           

          (i)          non-cash
                gains (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash item that reduced Consolidated Net Income or Consolidated EBITDA in any prior period),

           

          (ii)         the amount of
                any non-controlling interest consisting of loss attributable to non-controlling interests of third parties in any Restricted Subsidiary that is not a wholly-owned subsidiary added to and not deducted in such period from Consolidated Net
                Income, and

           

          (iii)        cash
                expenditures (or any netting arrangements resulting in increased cash expenditures) not representing Consolidated EBITDA in any period to the extent non-cash losses relating to such expenditures were added to the calculation of Consolidated
                EBITDA for any previous periods and not subtracted back;

           

          
            27

            
              

          

          in each case, as determined on a consolidated basis for Holdings and the Restricted Subsidiaries in accordance with GAAP and on a Pro Forma Basis; provided that:

           

          (I)          Consolidated
                EBITDA shall be increased (with respect to losses) or decreased (with respect to gains)
                by, without duplication, any net realized gains and losses relating to (i) amounts denominated in foreign currencies resulting from the application of FASB ASC 830 (including net realized gains and losses from exchange rate fluctuations on
                intercompany balances and balance sheet items, net of realized gains or losses from related Swap Agreements (entered into in the ordinary course of business or consistent with past practice)) or (ii) any other amounts denominated in or
                otherwise trued-up to provide similar accounting as if it were denominated in foreign currencies.

           

           “Consolidated First Lien Debt” means the amount of
            Consolidated Total Net Debt (x) under this Agreement and the Senior Secured 2025 Notes (or any refinancing of the Senior Secured 2025 Notes) and (y) that is secured by a Lien on any assets or property of Holdings and its Restricted Subsidiaries
            on an equal priority basis (but without regard to the control of remedies) with Liens securing the Refinancing Term Loans and Initial Revolving Loans.

           

           “Consolidated Net Income” means, for any
            period, the net income (loss) of Holdings and the Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, excluding, without duplication:

           

          (a)       extraordinary,
              one-time, exceptional, unusual or non-recurring gains or losses (less all fees and expenses relating thereto) or expenses (including any unusual or non-recurring operating expenses directly attributable to the implementation of cost savings
              initiatives and any accruals or reserves in respect of any extraordinary, non-recurring or unusual items), severance, relocation costs, integration and facilities’ opening costs, restructuring charges, accruals or reserves (including
              restructuring and integration costs related to acquisitions before or after the Closing Date and adjustments to existing reserves and any restructuring charge relating to any Tax Restructuring), whether or not classified as restructuring
              expense on the consolidated financial statements, business optimization charges, systems implementation charges, charges relating to entry into a new market, consulting charges, recruiting costs, software development charges, charges
              associated with new systems design, project startup charges, charges in connection with new operations, corporate development charges, signing costs, retention or completion bonuses, transition costs, costs related to closure/consolidation of
              facilities and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of multi-employer plan or pension liabilities), for such period,

           

          (b)          the cumulative
                effect of a change in accounting principles during such period to the extent included in Consolidated Net Income,

           

          (c)       Transaction Costs,
              and similar costs, expenses or charges incurred in connection with any Permitted Acquisition or Specified Transaction,

           

          
            28

            
              

          

          (d)         the net income
                (loss) for such period of any Person that is an Unrestricted Subsidiary and any Person that is not a Subsidiary or that is accounted for by the equity method of accounting, except to the extent of the amount of dividends or distributions or
                other similar payments that are actually paid in cash (or to the extent converted into cash) by such Person to Holdings or any Restricted Subsidiary during such period,

           

          (e)          any fees and
                expenses (including any transaction or retention bonus or similar payment) incurred during such period, or any amortization thereof for such period, in connection with any acquisition, Investment, asset disposition, issuance or repayment of
                debt, issuance of equity securities (including any Public Offering of Holdings’ Equity Interests or any direct or indirect parent company), refinancing transaction or amendment or other modification of any debt instrument (in each case,
                including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction, in
                each case whether or not successful (including, for the avoidance of doubt, the effects of expensing all transaction-related expenses in accordance with FASB Accounting Standards Codification 805 and gains or losses associated with FASB
                Accounting Standards Codification 460),

           

          (f)          any income
                (loss) for such period attributable to the early extinguishment of Indebtedness, hedging agreements or other derivative instruments,

           

          (g)          accruals and
                reserves that are established or adjusted in accordance with GAAP (including any adjustment of estimated payouts on existing earnouts, inventory, property and equipment, leases, rights fee arrangements, software, goodwill, intangible
                assets, in-process research and development, deferred revenue, advanced billings and debt line items thereof) resulting from the application of recapitalization accounting or the acquisition method of accounting, as the case may be, in
                relation to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof or changes as a result of the adoption or modification of accounting policies during such period,

           

          (h)          all Non-Cash
                Compensation Expenses,

           

          (i)          any income
                (loss) attributable to deferred compensation plans or trusts, any employment benefit scheme or any similar equity plan or agreement,

           

          (j)          any gain
                (loss) on asset sales, disposals or abandonments (other than asset sales, disposals or abandonments in the ordinary course of business) or income (loss) from discontinued operations (but if such operations are classified as discontinued due
                to the fact that they are subject to an agreement to dispose of such operations, only when and to the extent such operations are actually disposed of),

           

          (k)         any non-cash
                gain (loss) attributable to the mark to market movement in the valuation of hedging obligations or other derivative instruments pursuant to FASB Accounting Standards Codification 815-Derivatives and Hedging or mark to market movement of
                other financial instruments pursuant to FASB Accounting Standards Codification 825-Financial Instruments; provided that any cash payments or receipts relating to transactions realized in a given period shall be taken into account in such
                period,

           

          
            29

            
              

          

          (l)          any non-cash
                gain (loss) related to currency remeasurements of Indebtedness (including the net loss or gain resulting from hedging agreements for currency exchange risk and revaluations of intercompany balances or any other currency-related risk),
                unrealized or realized net foreign currency translation or transaction gains or losses impacting net income,

           

          (m)        any non-cash
                expenses, accruals or reserves related to adjustments to historical tax exposures (provided, in each case, that the cash payment in respect thereof in such future period shall be subtracted from Consolidated Net Income for the period in
                which such cash payment was made),

           

          (n)        any impairment
              charge or asset write-off or write-down related to intangible assets (including goodwill), long-lived assets, and investments in debt and equity securities;

           

          (o)         the effects of
                purchase accounting, fair value accounting or recapitalization accounting adjustments (including the effects of such adjustments pushed down to the referent Person and its Restricted Subsidiaries) resulting from the application of purchase
                accounting, fair value accounting or recapitalization accounting in relation to the Transactions, the Cristal Acquisition or any acquisition consummated before or after the Closing Date, and the amortization, write-down or write-off of any
                amounts thereof, net of taxes; and

           

          (p)      all discounts,
                commissions, fees and other charges (including interest expense) associated with any Permitted Receivables Financing.

           

          In addition, to the extent not already included in Consolidated Net Income, Consolidated Net Income shall include the amount of proceeds
            received or, so long as Holdings has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days
            of the date of the indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period), due from reimbursement of expenses and charges that are covered by
            indemnification and other reimbursement provisions in connection with any acquisition or other Investment or any disposition of any asset permitted hereunder.

           

          “Consolidated Secured Debt” means Consolidated Total
            Net Debt that is secured by a Lien on any assets or property of Holdings and the Restricted Subsidiaries.

           

          “Consolidated Total Debt” means, as of any date of
            determination, the outstanding principal amount of all third party Indebtedness for borrowed money (including purchase money Indebtedness), unreimbursed drawings under standby letters of credit to the extent not reimbursed within five Business
            Days following the drawing thereof, Capital Lease Obligations  and third party Indebtedness obligations evidenced by bonds, debentures, notes or similar instruments, in each case of Holdings and the Restricted Subsidiaries on such date, on a
            consolidated basis and determined in accordance with GAAP (but without giving effect to any election to value any such Indebtedness at “fair value”, as described in clause (a) of the
            definition of “GAAP”, or any other accounting principle that results in any such Indebtedness (other than zero coupon Indebtedness) being reflected as an amount below the stated principal amount thereof and excluding, in any event, the effects
            of any discounting of Indebtedness resulting from the application of acquisition method accounting in connection with any Permitted Acquisition or other Investment); provided that
            Swap Obligations and Permitted Receivables Financings shall not constitute Indebtedness of the type included in the definition of Consolidated Total Debt.

           

          
            30

            
              

          

          “Consolidated Total Net Debt” means, as of any date of
            determination, (a) Consolidated Total Debt as of such date, minus (b) (x) the aggregate amount of unrestricted cash and Cash Equivalents owned by Holdings and the Restricted
            Subsidiaries, as reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP but without giving Pro Forma Effect to the receipt of the
              proceeds of any Indebtedness that is incurred on such date and (y) cash and Cash Equivalents restricted in favor of the Credit Facilities (which may also include cash and Cash Equivalents securing other Indebtedness permitted
            hereunder that is secured by a Lien on the Collateral along with the Credit Facilities).

           

          “Consolidated Working Capital” means, at any date, the
            excess of (a) the sum of all amounts (other than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated balance sheet of Holdings and the
            Restricted Subsidiaries at such date, excluding the current portion of current and deferred income taxes minus (b) the sum of all amounts that would, in conformity with GAAP, be set forth opposite the caption “total current liabilities” (or any
            like caption) on a consolidated balance sheet of Holdings and the Restricted Subsidiaries on such date, including deferred revenue but excluding, without duplication, (i) the current portion of any Funded Debt, (ii) all Indebtedness consisting
            of Loans and obligations under letters of credit to the extent otherwise included therein, (iii) the current portion of interest and (iv) the current portion of current and deferred income taxes; provided
            that, for purposes of calculating Excess Cash Flow, increases or decreases in working capital (A) arising from acquisitions or dispositions by Holdings and the Restricted Subsidiaries shall be measured from the date on which such acquisition or
            disposition occurred until the first anniversary of such acquisition or disposition with respect to the Person subject to such acquisition or disposition and (B) shall exclude (I) the impact of non-cash adjustments contemplated in the Excess
            Cash Flow calculation, (II) the impact of adjusting items in the definition of “Consolidated Net Income” and (III) any changes in current assets or current liabilities as a result of (x) the effect of fluctuations in the amount of accrued or
            contingent obligations, assets or liabilities under hedging agreements or other derivative obligations, (y) any reclassification in accordance with GAAP of assets or liabilities, as applicable, between current and noncurrent or (z) the effects
            of acquisition method accounting.

           

          “Contract Consideration” has the meaning assigned to
            such term in the definition of “Excess Cash Flow.”

           

          “Contribution Amount” has the meaning given in
            subsection 444-90(1A) in Schedule 1 of the Australian TAA (Cth).

           

          
            31

            
              

          

          “Contribution Indebtedness” means Indebtedness of
            Holdings, any Borrower or any Restricted Subsidiary in an amount equal to the aggregate amount of cash contributions made after the Closing Date to Holdings (other than the proceeds from the issuance of Disqualified Stock or contributions by
            the Borrower or any Restricted Subsidiary) whether through the issuance or sale of capital stock or otherwise, except to the extent utilized in connection with any other transaction permitted by Section

                6.04 and Section 6.08, and except to the extent such amount increases the Available Amount.

           

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

           

          “Converting Lender” has the meaning assigned to such term in the Amendment.

           

          “Corporations Act” means the Australian Corporations Act 2001 (Cth).

           

          “Corresponding Tenor” with respect to any Available Tenor means, as applicable,
            either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.

           

          “Credit Agreement Refinancing Indebtedness” means
            Indebtedness issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part, existing Loans (or, if applicable,
            unused Commitments) or any then-existing Credit Agreement Refinancing Indebtedness (“Refinanced Credit Agreement Debt”); provided,
            further that such exchanging, extending, renewing, replacing or refinancing Indebtedness:

           

          (a)          other than
                Credit Agreement Refinancing Indebtedness in an amount not to exceed the Maturity Limitation Excluded Amount, (x) does not have a Weighted Average Life to Maturity shorter than the Refinanced Credit Agreement Debt (if the Credit Agreement
                Refinancing Indebtedness consists of term facilities) and (y) does not mature prior to the maturity date of the earlier of (A) Refinanced Credit Agreement Debt and (B) either (x) the Term Maturity Date for Refinancing Term Loans in the case
                of Credit Agreement Refinancing Indebtedness in the form or term facilities and (y) the Revolving Maturity Date for the Initial Revolving Facility in the case of Credit Agreement Refinancing Indebtedness in the form of revolving loans
                (excluding, in each case, any bridge loans so long as the long term Indebtedness into which such bridge facility is to be converted satisfies this clause (a)),

           

          (b)         any mandatory
                prepayments of (I) any Permitted Second Priority Refinancing Debt or Permitted Unsecured Refinancing Debt may not be made except to the extent that prepayments are not prohibited hereunder and to the extent required hereunder or pursuant to
                the terms of any Permitted First Priority Refinancing Debt, first made or offered to the holders of the Term Loans constituting First Lien Obligations and any such Permitted First Priority Refinancing Debt, and (II) any Permitted First
                Priority Refinancing Debt in respect of events described in Section 2.11(b) and (c), may be made on a pro rata basis, less than a pro rata basis but not  greater than a pro rata basis with each Class of Term Loans constituting First Lien Obligations,

           

          
            32

            
              

          

          (c)      with respect to
                Refinanced Credit Agreement Debt consisting of Revolving Commitments or Incremental Revolving Loan Commitments, will not require scheduled amortization or mandatory commitment reductions prior to the maturity date of such Refinanced Credit
                Agreement Debt,

           

          (d)          except as
                otherwise provided herein or such amount is otherwise permitted under one or more other baskets under Section 6.01(a), is in an original aggregate principal amount not greater
                than the aggregate principal amount of the Refinanced Credit Agreement Debt (including any unutilized commitments being refinanced) (plus premium, penalty and/or fees payable by the terms thereof, accrued but unpaid interest and fees and
                expenses and upfront fees or original issue discount incurred in connection with such exchange, extension, renewal, replacement or refinancing and assuming full par value for any Refinanced Credit Agreement Debt which was issued at a
                discount),

           

          (e)          is not issued,
                borrowed or guaranteed by any entity that is not a Loan Party (unless also provided for the benefit of the Lenders),

           

          (f)          in the case of
                any secured Indebtedness (i) is not secured by any assets not securing the Secured Obligations (unless also provided for the benefit of the Lenders) and (ii) is secured on an equal priority basis with or on a junior basis to the Liens
                securing the Secured Obligations and is subject to the relevant Intercreditor Agreement(s), and

           

          (g)          the terms and
                conditions (excluding pricing, interest rate margins, rate floors, discounts, fees, premiums and, subject to clauses (a) and (b)
                above, prepayment or redemption provisions) shall either, at the option of the Borrower:

           

          (i)          reflect market
                terms and conditions (taken as a whole) at the time of incurrence of such Indebtedness (as determined by the Borrower in good faith), or

           

          (ii)         be
                substantially identical to or not materially more favorable (when taken as a whole), as reasonably determined by the Borrower, to the lenders or investors providing such Credit Agreement Refinancing Indebtedness than the Refinanced Credit
                Agreement Debt, except, in each case under this clause (ii), with respect to (1) covenants and other terms only applicable to periods after the  earlier of the maturity date of (A) the Refinanced Credit Agreement Debt and (B) either (x) the
                Term Maturity Date for Refinancing Term Loans in the case of Credit Agreement Refinancing Indebtedness in the form or term facilities and (y) the Revolving Maturity Date for the Initial Revolving Facility in the case of Credit Agreement
                Refinancing Indebtedness in the form of revolving loans or (2) covenants and other terms reasonably satisfactory to the Administrative Agent; provided that to the extent any
                covenant or term is (I) added for the benefit of  the lenders of any such Indebtedness that consists of term facilities, such covenant or term will be deemed satisfactory to the Administrative Agent to the extent that such term or covenant
                is also added, or the features of such term or provision are provided, for the benefit of each Term Lender or (II) added for the benefit of the lenders of any such Indebtedness that consists of revolving credit facilities, such covenant or
                term will be deemed satisfactory to the Administrative Agent to the extent that such term or provision is also added, or the features of such term or provision are provided, for the benefit of the Lenders of each Revolving Lender.

           

          
            33

            
              

          

          “Credit Conversion” means, as to any  Converting
            Lender, the conversion of its Existing Dollar Term Loans in respect of the Existing Term Loan Credit Agreement into Refinancing Term Loans in accordance with the Amendment.

           

          “Credit Extension” means, as to any Lender, the making of a Loan, and with respect
            to an L/C Issuer, an L/C Credit Extension.

           

          “Credit Facilities” means the Term Facility, Revolving Facility and the other credit
            facilities established under this Agreement.

           

          “Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate
            (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business
            loans; provided, that if the Administrative Agent decides in its reasonable discretion that any such convention is not administratively feasible for the Administrative Agent, then the
            Administrative Agent, in consultation with the Borrower, may establish another convention in its reasonable discretion.

           

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

           

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

           

          “Defaulting Lender” means, subject to Section 2.22(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within one Business Day of the date such Loans were required to be funded hereunder unless such
            Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any
            applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date
            when due, (b) has notified the Borrower or the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement
            relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be
            specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent
            and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative
            Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator,
            assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such
            a capacity or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity
            Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United
            States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any
            determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such
            Lender shall be deemed to be a Defaulting Lender (subject to Section 2.22(b)) as of the date established therefor by the Administrative Agent in a written notice of such
            determination, which shall be delivered by the Administrative Agent to the Borrower and each other Lender promptly following such determination.

           

          
            34

            
              

          

          “Designated Non-Cash Consideration” means the Fair
            Market Value of non-cash consideration received by Holdings or any Restricted Subsidiary in connection with a Disposition pursuant to Section 6.05(j) that is designated as Designated
            Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Borrower, setting forth the basis of such valuation (which amount will be reduced by the Fair Market Value of the portion of the non-cash consideration converted
            to cash following the consummation of the applicable Disposition).

           

          “Disposition” has the meaning assigned to such term in
            Section 6.05.

           

          “Disqualified Equity Interest” means, with respect to
            any Person, any Equity Interest in such Person that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable, either mandatorily or at the option of the holder thereof), or upon the happening of
            any event or condition:

           

          (a)          matures or is
                mandatorily redeemable (other than solely for Equity Interests in such Person or in Holdings that do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests), whether pursuant to a sinking
                fund obligation or otherwise;

           

          (b)          is convertible
                or exchangeable, either mandatorily or at the option of the holder thereof, for Indebtedness or Equity Interests (other than solely for Equity Interests in such Person or in Holdings that do not constitute Disqualified Equity Interests and
                cash in lieu of fractional shares of such Equity Interests); or

           

          (c)          is redeemable
                (other than solely for Equity Interests in such Person or in Holdings that do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests) or is required to be repurchased by such Person or
                any of its Affiliates, in whole or in part, at the option of the holder thereof;

           

          
            35

            
              

          

          in each case, on or prior to the earlier of the Latest Maturity Date and the date the Loans are no longer outstanding and the Commitments have been terminated
            (determined as of the date of issuance thereof or, in the case of any such Equity Interests outstanding on the date hereof, the date hereof); provided, however, that (i) an Equity Interest in any Person that would not constitute a Disqualified Equity Interest but for terms thereof giving holders thereof the right to require such Person to redeem or purchase
            such Equity Interest upon the occurrence of an “asset sale,” a “change of control” or similar event shall not constitute a Disqualified Equity Interest if any such requirement becomes operative only after repayment in full of all the Loans and
            all other Loan Document Obligations that are accrued and payable and the termination of the Commitments, (ii) if an Equity Interest in any Person is issued pursuant to any plan for the benefit of directors, officers, employees, members of
            management, managers or consultants, of Holdings (or any direct or indirect parent thereof), the Borrower or any other Subsidiary or by any such plan to such employees, such Equity Interest shall not constitute a Disqualified Equity Interest
            solely because it may be required to be repurchased by Holdings (or any direct or indirect parent company thereof), the Borrower or any other Subsidiary in order to satisfy applicable statutory or regulatory obligations of such Person and (iii)
            no Equity Interest held by any future, present or former employee, director, officer, manager, member of management, consultant or independent contractor (or their respective affiliates or immediate family members) of the Borrower (or any
            direct or indirect parent thereof or any subsidiary) shall be considered a Disqualified Equity Interest solely because such stock is redeemable or subject to repurchase pursuant to any customary stock option, employee stock award or similar
            agreement that may be in effect from time to time.

           

          “Disqualified Lenders” means:

           

          (a)          those Persons
              identified in writing by Holdings, the Borrower or their respective designees to the Joint Bookrunners in writing on or prior to February 23, 2021;

           

          (b)       any Company
              Competitor that is identified in writing by Holdings, the Borrower or their respective designees to the Joint Bookrunners on or prior to the Closing Date (which list of Company Competitors may be supplemented by Holdings after the Closing
              Date by means of a written notice to the Administrative Agent, but which supplementation shall not apply retroactively to disqualify any Persons that have previously acquired an assignment or participation in the Loans or have entered into a
              trade therefor); and

           

          (c)         any Affiliate of
              any Person described in clauses (a) and (b) above (other than any Competitor Debt Fund Affiliate) that is either (x)
              identified in writing to the Administrative Agent or (y) clearly identifiable solely on the basis of such Affiliate’s name;

           

          it being understood and agreed that the identification of any Person as a Disqualified Lender after the Closing Date shall not apply to retroactively disqualify
            any Person that has previously acquired an assignment or participation interest in the Loans or has entered into a trade therefor.

           

          
            36

            
              

          

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

           

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

           

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

           

          “Dutch Auction Procedures” means the procedures set forth on Schedule 2.11.

           

          “Dutch Share Pledge Agreements” means, collectively, (i) that certain Deed of
            Pledged Shares, dated on or prior to the Dutch Post-Closing Date, among Tronox Coöperatief as the pledgor, Tronox Pigments (Netherlands) as the company, and the Collateral Agent as the pledgee, (ii) that certain Deed of Pledged Shares, dated on
            or prior to the Dutch Post-Closing Date, among Tronox Investments Holdings Limited as pledgor, Tronox Pigments (Holland) as company, and the Collateral Agent as the pledgee, (iii) that certain Deed of Pledged Shares, dated on or prior to the
            Dutch Post-Closing Date, among Tronox Pigments (Holland) as pledgor, Tronox Investments Netherlands as company, and the Collateral Agent as pledgee, (iv) that certain Deed of Pledged Shares, dated on or prior to the Dutch Post-Closing Date,
            among Tronox Investments Netherlands as pledgor, Tronox International as company, and the Collateral Agent as pledgee, (v) that certain Deed of Pledge of Membership Interests, dated on or prior to the Dutch Post- Closing Date, among Tronox
            Limited, Tronox Global Holdings and Tronox Holdings Europe C.V. as the pledgors, Tronox Coöperatief as the company, and the Collateral Agent as the pledgee, and (vi) that certain Deed of Partnership Interests, dated on or prior to the Dutch
            Post-Closing Date, among Tronox Limited and Tronox Global Holdings as the pledgors, Tronox Holdings Europe C.V. as the company, and the Collateral Agent as the pledgee.

           

          “Dutch Loan Party” means a Loan Party incorporated, organized or otherwise formed in
            the laws of the Netherlands.

           

          “Dutch Mortgage” means that certain Mortgage, dated as of the Closing Date, between
            Tronox Pigments (Hollland) as the mortgagor and the Collateral Agent as the mortgagee, with respect to the property located at the Professor Gerbrandyweg in Rotterdam (Botlek), cadastrally known as municipality of Rotterdam (12th department)
            section AK numbers 1173, 1916, 1922 and 2026 and the property located at the Professor Gerbrandyweg in Rotterdam (Botlek), cadastrally known as municipality of Rotterdam (12th department) section AK number 1915.

           

          “Dutch Post-Closing Date” means the date 90 days after the Closing Date, whereby if
            this is a date that is not a business day in the Netherlands, the first date after such date shall be the Dutch Post-Closing Date.

           

          “Dutch Security Agreement” means that certain Security Agreement, dated on or prior
            to the Dutch Post-Closing Date, among the Dutch Loan Parties party thereto from time to time as pledgors and the Collateral Agent as pledgor.

           

          
            37

            
              

          

          “Dutch Security Documents” means, collectively, the Dutch Security Agreement, the
            Dutch Mortgage, the Dutch Share Pledge Agreements and any other Dutch law governed document pursuant to which a security interest is created over assets or properties of the Dutch Loan Parties.

           

          “Early Opt-in Election” means, if the then-current Benchmark is LIBOR, the
            occurrence of:

           

          (1) a notification by the Administrative Agent to (or the request by the Borrower to the Administrative Agent to notify) each of the other
            parties hereto that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other
            rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and

           

          (2) a joint election by the Administrative Agent and the Borrower to trigger a fallback from LIBOR and the provision by the Administrative Agent
            of written notice of such election to the Lenders.

           

          “ECF Percentage” means, with respect to the prepayment
            required by Section 2.11(c) with respect to any fiscal year of Holdings, if the First Lien Net Leverage Ratio as of the end of such fiscal year is (a) greater than 3.00:1.00, 50% of
            Excess Cash Flow for such fiscal year, (b) greater than 2.75:1.00 but less than or equal to 3.00:1.00, 25% of Excess Cash Flow for such fiscal year and (c) equal to or less than 2.75:1.00, 0% of Excess Cash Flow for such fiscal year; provided, that if after taking into account any portion of a prepayment required pursuant to Section 2.11(c), the First Lien
            Net Leverage Ratio shall be reduced to the level set forth in either clause (b) or (c), the remainder of such prepayment required to be made on such date shall be made in accordance with the percentage set forth in such clause (b) or (c) as
            applicable.

           

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

           

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

           

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

           

          
            38

            
              

          

          “Effective Yield” means, as to any Indebtedness, the
            yield thereof, whether in the form of interest rate, margin, OID, upfront fees, a LIBO Rate floor or Alternate Base Rate floor (with such increased amount being determined in the manner described in the final proviso of this definition), or
            otherwise, in each case, incurred or payable by the Borrower ratably to all lenders of such Indebtedness; provided that OID and upfront fees shall be equated to interest rate assuming
            a 4 year life to maturity (or, if less, the stated life to maturity at the time of incurrence of the applicable Indebtedness); provided, further, that “Effective Yield” shall not include arrangement fees, structuring fees, commitment fees,
            underwriting fees, success fees, advisory fees, ticking fees, consent or amendment fees and any similar fees (regardless of how such fees are computed and whether shared or paid, in whole or in part, with or to any or all lenders) and any other
            fees not generally paid ratably to all lenders of such Indebtedness; provided further that, with respect to any Loans of an applicable Class that includes a LIBO Rate floor or
            Alternate Base Rate floor, (1) to the extent that the Reference Rate on the date that the Effective Yield is being calculated is less than such floor, the amount of such difference shall be deemed added to the Applicable Rate for such Loans of
            such Class for the purpose of calculating the Effective Yield and (2) to the extent that the Reference Rate on the date that the Effective Yield is being calculated is greater than such floor, then the floor shall be disregarded in calculating
            the Effective Yield.

           

          “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an
            Approved Fund and (d) any other Person (including, in the case of Term Loans and subject to the requirements of Sections 9.04(g) and (l),
            as applicable, Holdings, the Borrower or any of their Affiliates), other than, in each case, (i) a natural person or (ii) a Defaulting Lender.  For the avoidance of doubt, any Disqualified Lender is subject to Section 9.04(h).

           

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

           

          “Emirates Revolver” means that certain Facility Agreement, dated as of June 30,
            2015, as amended on July 12, 2018, May 8, 2019, December 31, 2019 and February 27, 2020, and as further amended, amended and restated, supplemented or modified from time to time, among Tronox Pigment UK Limited, a company formed under the laws
            of England and Wales as the borrower, and Emirates NBD Lender (P.J.S.C), London Branch, as the lender.

           

          “Environmental Laws” means applicable common law and
            applicable Requirements of Law, and all applicable injunctions or legally binding agreements issued, promulgated or entered into by or with any Governmental Authority, in each instance relating to the protection of the environment, including
            with respect to the preservation or reclamation of natural resources or the generation, use, handling transportation, storage, treatment or disposal (including any Release or threatened Release) of any Hazardous Material, or, to the extent
            relating to exposure to Hazardous Materials, the protection of human health or safety.

           

          “Environmental Liability” means any liability,
            obligation, loss, claim, action, order or cost, contingent or otherwise, (including any liability for damages, costs of medical monitoring, costs of environmental remediation or restoration, administrative oversight costs, consultants’ fees,
            fines, penalties and indemnities) of Holdings or any other Subsidiary directly or indirectly resulting from or based upon (a) any actual or alleged violation of or noncompliance with any Environmental Law or permit, license or approval issued
            thereunder, (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 or (e) any
            legally binding contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

           

          
            39

            
              

          

          “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, or interests in a Person, but excluding any debt security that is convertible into, or
            exchangeable for, Capital Stock of such Person.

           

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

           

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

           

          “ERISA Event” means (a) any “reportable event,” as
            defined in Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30 day notice period is waived); (b) any failure by a Loan Party or any ERISA Affiliate to satisfy the minimum
            funding standards (within the meaning of Section 412 or Section 430 of the Code or Section 302 or Section 303 of ERISA) applicable to any Plan, whether or not waived; (c) the filing pursuant to Section 412 of the Code or Section 302 of ERISA of
            an application for a waiver of the minimum funding standard with respect to any Plan; (d) a determination that any Plan is, or is expected to be, in “at-risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code);
            (e) the incurrence by a Loan Party or any ERISA Affiliate of any liability under Title IV of ERISA (other than premiums due and not delinquent under Section 4007 of ERISA) with respect to the termination of any Plan; (f) the receipt by a Loan
            Party or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans under Section 4041 of ERISA or to appoint a trustee to administer any Plan under Section 4042 of ERISA; (g)
            the incurrence by a Loan Party or any ERISA Affiliate of any liability with respect to the withdrawal from any Plan subject to Section 4063 of ERISA during a plan year in which it was a “substantial employer” (as defined in Section 4001(a)(2)
            of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA), or a complete or partial withdrawal (within the meanings of Section 4203 and Section 4205 of ERISA, respectively) from a Multiemployer
            Plan; or (h) the occurrence of a Foreign Benefit Plan Event or (i) the receipt by a Loan Party or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from a Loan Party or any ERISA Affiliate of any notice, concerning the
            imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is reasonably expected to be, “insolvent,” within the meaning of Section 4245 of ERISA or in “endangered or critical status,” within the meaning of Section
            305 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.

           

          “EU Insolvency Regulation” means Regulation (EU) 2015/848 of the European Parliament
            and of the Council of 20 May 2015 on insolvency proceedings.

           

          
            40

            
              

          

          “EURIBOR Screen Rate” means the euro interbank offered rate administered by the
            European Money Markets Institute (or any other person which takes over the administration of that rate) for the relevant Interest Period displayed (before any correction, recalculation or republication by the administrator) on page EURIBOR01 of
            the Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson Reuters as of 11:00 a.m.
            Brussels time two TARGET Days prior to the commencement of such Interest Period.  If such page or service ceases to be available, the Administrative Agent may specify another page or service displaying the relevant rate after consultation with
            the Borrower.

          

          

          “Euro” and “€” mean the
            lawful single currency of the Participating Member States.

           

          “Eurocurrency” means, in respect of any Loan or Borrowing, a LIBOR Loan or
            Borrowing.

           

          “Event of Default” has the meaning assigned to such term in Section 7.01.

           

          “Excess Cash Flow” means, for any period, an amount (if
            positive) equal to the excess of:

           

          (a)          the sum (in
                each case, for Holdings and the Restricted Subsidiaries on a consolidated basis), without duplication, of:

           

          (i)           Consolidated
                Net Income for such period,

           

          (ii)        an amount
                equal to the amount of all non-cash charges to the extent deducted in arriving at such Consolidated Net Income (provided, in each case, that if any non-cash charge represents an
                accrual or reserve for cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Excess Cash Flow in such future period),

           

          (iii)       decreases in
                Consolidated Working Capital, and without duplication, decreases in long-term accounts receivables and long-term prepaid assets and increases in long-term deferred revenue, in each case, for such period (other than any such decreases or
                increases, as applicable, arising from acquisitions or asset sales outside the ordinary course of assets by the Borrower or any Restricted Subsidiary during such period or the application of recapitalization or purchase accounting),

           

          (iv)         extraordinary
                cash gains during such period; less:

           

          (b)          the sum (in each
              case, for Holdings and the Restricted Subsidiaries on a consolidated basis), without duplication (including in any subsequent fiscal years), of:

           

          (i)          an amount
                equal to the amount of all (a) non-cash credits included in arriving at such Consolidated Net Income (including any amounts included in Consolidated Net Income pursuant to the last sentence of the definition of “Consolidated Net Income” to
                the extent such amounts are due but not received during such period) and (b) cash charges excluded by the virtue of the definition of “Consolidated Net Income”, except to the extent such cash charges were financed with Indebtedness (other
                than revolving Indebtedness),

           

          
            41

            
              

          

          (ii)         (x) the
                aggregate amount of all principal payments of Indebtedness (including (a) the principal payments of Term Loans under this Agreement made pursuant to Section 2.10(a), (b) the
                principal component of payments in respect of Capitalized Leases, (c) the amount of any voluntary prepayments, redemptions, debt buybacks, repurchases, scheduled amortization payments or mandatory prepayments or repayments of Indebtedness
                outstanding pursuant to Section 6.01(a), in each case, to the extent not financed with long-term Indebtedness (other than revolving Indebtedness) and (y) the aggregate amount of
                any premium, make-whole or penalty payments actually paid in cash by Holdings and the Restricted Subsidiaries during such period that are required to be made in connection with any prepayment of Indebtedness referred to in clause (x), to
                the extent not financed with long-term Indebtedness (other than revolving Indebtedness), but excluding (a) all prepayments of revolving loans (including the Revolving Loans) made during such period (other than in respect of any revolving
                credit facility to the extent there is an equivalent permanent reduction in commitments thereunder) and (b) all principal prepayments of Indebtedness (other than the Loans) to the extent reducing the required prepayment of Term Loans or
                Incremental Term Loans in respect of such period pursuant to the final sentence of Section 2.11(c)),

           

          (iii)       increases in
                Consolidated Working Capital, and, without duplication, increases in long-term receivables and long-term prepaid assets and decreases in long-term deferred revenue, in each case, for such period (other than any such increases or decreases,
                as applicable, arising from acquisitions or asset sales outside the ordinary course by the Borrower or any Restricted Subsidiary during such period or the application of recapitalization or purchase accounting),

           

          (iv)        cash payments
                by Holdings and the Restricted Subsidiaries during such period in respect of non-current liabilities of the Holdings and the Restricted Subsidiaries other than Indebtedness, to the extent such payments are not expensed during such period or
                are not deducted in calculating Consolidated Net Income and were not financed with long-term Indebtedness (other than revolving Indebtedness),

           

          (v)        without
                duplication of amounts deducted pursuant to clauses (vi) and (vii) below in prior fiscal years, the amount of
                Investments (other than Investments in Cash Equivalents and Investments made pursuant to Section 6.04(b), (d), and (u)) and acquisitions not prohibited by this Agreement made in cash during such period or, at the option of the Borrower, made prior to the date the Borrower is required to make a
                payment of Excess Cash Flow in respect of such period, to the extent that such Investments acquisitions and were not financed with long-term Indebtedness (other than revolving Indebtedness) (it being understood that the reference to Section 6.04(d) in this clause (vi) shall be without prejudice to the ability to utilize any other provision of this clause (b) to the extent applicable),

           

          
            42

            
              

          

          (vi)        the amount of
                Restricted Payments (other than Restricted Payments made pursuant to Section 6.08(a)(i), and (viii)) paid in cash
                during such period or, at the option of the Borrower, made prior to the date Holdings is required to make a payment of Excess Cash Flow in respect of such period, and not prohibited by this Agreement (for the avoidance of doubt, solely to
                the extent that such Restricted Payments made during such period are not deducted (and not added back) in calculating Consolidated Net Income), to the extent such Restricted Payments were not financed with long term Indebtedness (other than
                revolving Indebtedness),

           

          (vii)      without
                duplication of amounts deducted from Excess Cash Flow in prior periods, (1) the aggregate consideration required to be paid in cash by Holdings or any Restricted Subsidiary pursuant to binding contracts, commitments, letters of intent or
                purchase orders (the “Contract Consideration”), in each case, entered into prior to the date the Borrower is required to make a payment of Excess Cash Flow in respect of such
                period and (2) the aggregate amount of cash that is reasonably expected to be paid in respect of planned cash expenditures by Holdings or any Restricted Subsidiary (the “Planned Expenditures”),

                in the case of each of clauses (1) and (2), relating to Permitted Acquisitions, other Investments (other than
                Investments in Cash Equivalents and Investments made pursuant to Section 6.04(b), and (d)), Restricted Payments, any
                scheduled payment, repurchase or redemption of Indebtedness that was permitted by the terms of this Agreement to be incurred and paid, repurchased or redeemed, or Capital Expenditures (including other purchases of intellectual property) to
                be consummated or made during the immediately succeeding fiscal year; provided that to the extent the aggregate amount (excluding in each case any amount financed with the
                proceeds of long-term Indebtedness (other than revolving Indebtedness)) actually utilized to finance such Permitted Acquisitions, Investments, Restricted Payments, repayments of Indebtedness or Capital Expenditures during such subsequent
                period is less than the Contract Consideration or Planned Expenditures, the amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end of such period,

           

          (viii)     the amount of
                taxes (including penalties and interest) paid in cash and/or tax reserves set aside (with respect to taxes payable in the immediately succeeding tax year), payable, or reasonably estimated to be payable (without duplication) in such period
                to the extent they exceed the amount of tax expense deducted in determining Consolidated Net Income for such period,

           

          (ix)         the amount of
                cash payments made in respect of pensions and other postemployment benefits in such period to the extent not deducted in arriving at such Consolidated Net Income,

           

          (x)         to the extent
                not deducted in arriving at Consolidated Net Income, cash fees, expenses and purchase price adjustments incurred in connection with the Transactions or any permitted Investment, Equity Issuance or debt issuance (whether or not consummated)
                and any Restricted Payment made to pay any of the foregoing incurred by Holdings, and

           

          (xi)         cash
                expenditures in respect of hedging or derivative arrangements permitted hereunder during such period to the extent not deducted in calculating Consolidated Net Income.

           

          
            43

            
              

          

          Notwithstanding anything else provided in this Agreement, (x) the amounts deducted under clause (b) above shall in no event be duplicative of
            amounts deducted under clauses (i) through (v) of Section 2.11(c)
            and (y) to the extent an amount is eligible to be deducted under either clause (b) above or clauses (i) through (v) of Section 2.11(c), such amounts shall be deemed to have been deducted under clauses (i) through (v) of Section 2.11(c) (and not, for the avoidance of doubt, clause (b) above).

           

          “Exchange Act” means the United States Securities Exchange Act of 1934, as amended
            from time to time.

           

          “Exchange Rate” means on any day, for purposes of
            determining the Dollar Equivalent of any currency other than Dollars, the rate at which such other currency may be exchanged into Dollars at the time of determination on such day as set forth on the Reuters WRLD Page for such currency.  In the
            event that such rate does not appear on any Reuters WRLD Page, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the
            Borrower or, in the absence of such an agreement, such Exchange Rate shall instead be the arithmetic average of the Exchange Rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect
            of such currency are then being conducted, at or about such time as the Administrative Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate, on such date for the purchase of Dollars for
            delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such Exchange Rate is being quoted, the Administrative Agent may use any
            reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error.

           

          “Excluded Assets” means,

           

          (a) (x) any fee owned real property other than Material Real Property and (y) all leasehold interests in real property,

           

          (b) any governmental licenses or state or local franchises, charters or authorizations, to the extent a security interest in any such license,
            franchise, charter or authorization would be prohibited or restricted thereby (including any legally effective prohibition or restriction, but excluding any prohibition or restriction that is ineffective under the Uniform Commercial Code of any
            applicable jurisdiction),

           

          (c) any asset to the extent a pledge thereof or grant of security interest therein is prohibited by any Requirement of Law (including any
            legally effective requirement to obtain the consent of any governmental authority, except to the extent such consent has been obtained, other than to the extent that any such prohibition would be rendered ineffective pursuant to any other
            applicable Requirements of Law, including the Uniform Commercial Code of any applicable jurisdiction),

           

          (d) margin stock and, to the extent (i) prohibited by the terms of, creating an enforceable right of termination in favor of any other party
            thereto (other than any Loan Party) or requiring the consent of one or more third parties under and/or (ii) any pledge could give rise to a “right of first refusal”, a “right of first offer” or a similar right that may be exercised by any third
            party pursuant to, any applicable Organizational Documents, joint venture agreement or shareholders’ agreement, Equity Interests in any Person other than Restricted Subsidiaries that are wholly-owned subsidiaries,

           

          
            44

            
              

          

          (e) assets to the extent a grant or perfection of a security interest in such assets would result in material adverse tax consequences to
            Holdings, the Borrower or any of its Restricted Subsidiaries as reasonably determined by the Borrower in consultation with (but without the consent of) the Administrative Agent,

           

          (f) in respect of United States Federal trademark applications, any intent-to-use trademark application prior to the filing of a “Statement of
            Use” or “Amendment to Allege Use” with respect thereto, provided that, upon the filing of a “Statement of Use” or “Amendment to Allege Use”, such trademark application will cease to be an Excluded Asset,

           

          (g) any lease, license or other agreement or any property subject to a purchase money security interest, capital lease obligation or similar
            arrangement permitted hereunder to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement or purchase money arrangement, capital lease or similar arrangement or create a breach,
            default or right of termination in favor of any other party thereto (other than any Loan Party) after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code of any applicable jurisdiction or other similar
            applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code of any applicable jurisdiction or other similar applicable law notwithstanding such
            prohibition,

           

          (h)  the Equity Interests of any (i) Immaterial Subsidiary, (ii) Unrestricted Subsidiary, (iii) not-for-profit subsidiary, any special purpose
            entity used for any securitization facility permitted hereunder and/or any captive insurance company, (iv) any employee stock ownership plan or trust established by Holdings or any of its Subsidiaries or a direct or indirect parent of Holdings
            (to the extent such employee stock ownership plan or trust has been funded by Holdings or any Subsidiary or a direct or indirect parent of Holdings), (v) any Equity Interests of an acquired entity or business pledged to secure Indebtedness
            assumed under Section 6.01(a)(vii) permitted to be assumed hereunder and (vi) any Equity Interests of any Person other than a wholly-owned Restricted Subsidiary if the joint venture
            or other agreement governing such Person prohibits the pledge of such Equity Interests,

           

          (i) receivables, leases contracts, loans, mortgages, royalties and related assets (or interests therein) including but not limited to inventory,
            bank accounts, records and proceeds of any of the foregoing (A) sold or contributed to any Receivables Subsidiary or (B) otherwise pledged, factored, transferred or sold in, in each case, connection with any Permitted Receivables Financing,

           

          (j) in excess of 65% of the voting Equity Interests of any first-tier Foreign Subsidiary of a Domestic Subsidiary that is a CFC formed in a
            non-Qualified Jurisdiction and any FSHCO in excess of 65% of the voting Equity Interests of such FSHCO,

           

          (k) any payroll accounts, any withholding tax and fiduciary accounts, and any escrow account  holding funds for the benefit of third parties
            (other than Holdings, the Borrower or any of its Subsidiaries that is a Guarantor), and/or

           

          
            45

            
              

          

          (m) any assets located in or governed by any non-Qualified Jurisdiction or regulation;

           

          Other assets shall be deemed to be “Excluded Assets” if the Administrative Agent and
            the Borrower reasonably agree in writing that the cost of obtaining or perfecting a security interest in such assets is excessive in relation to the value of such assets as Collateral.

           

          “Excluded Information” has the meaning assigned to such
            term in the definition of Big Boy Letter.

           

          “Excluded Subsidiary” means any of the following:

           

          (a)          any Subsidiary
                that is not a wholly-owned subsidiary of Holdings,

           

          (b)          any Subsidiary
                that is formed or organized in a non-Qualified Jurisdiction,

           

          (c)          any FSHCO,

           

          (d)          any Subsidiary
                that is a Subsidiary of any (i) Subsidiary formed or organized in a non-Qualified Jurisdiction or (ii) FSHCO,

           

          (d)          any
                Unrestricted Subsidiary,

           

          (e)         any Subsidiary
                that is prohibited by applicable law, rule or regulation or by any contractual obligation existing on the Closing Date or on the date any such subsidiary is acquired (so long as, in respect of any such contractual prohibition, such
                prohibition is not incurred in contemplation of such acquisition), from guaranteeing the payment of the Secured Obligations or which would require consent, approval, license or authorization from any Governmental Authority to provide a
                guarantee, unless such consent, approval, license or authorization has been obtained,

           

          (f)        Subsidiary
                where the Borrower reasonably determines in consultation with the Administrative Agent that the burden or cost (including any adverse tax consequences to Holdings or any of its Subsidiaries or any Parent Company) of providing the Guaranty
                will outweigh the practical benefits to be obtained by the Lenders therefrom,

           

          (g)          any Immaterial
                Subsidiary,

           

          (h)         any
                Receivables Subsidiary, special purpose entity used for any securitization facility permitted hereunder, any captive insurance company, or any non-for-profit Subsidiary,

           

          (i)          any other
                Subsidiaries as mutually agreed between the Borrower and the Administrative Agent, and

           

          (j)          any Subsidiary
                that is in existence on the Closing Date and is not party to the Guaranty Agreement as of the Closing Date.

           

          
            46

            
              

          

          “Excluded Swap Obligation” means, with respect to any
            Guarantor, (a) 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, as applicable, such Swap Obligation (or any Guarantee
            thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the U.S. 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 “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to any applicable keep well, support, or other agreement for the benefit of such Guarantor and any
            and all Guarantees of such Guarantor’s Swap Obligations by other Loan Parties) at the time the Guarantee of such Guarantor, or a grant by such Guarantor of a security interest, becomes effective with respect to such Swap Obligation or (b) any
            other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and counterparty applicable to such Swap Obligations.  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 excluded in accordance with the
            first sentence of this definition.

           

          “Excluded Taxes” means, with respect to the
            Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder or under any other Loan Document, (a) Taxes imposed on (or measured by) its net income (however
            denominated), branch profits Taxes and franchise Taxes, in each case imposed by (i) a jurisdiction as a result of such recipient being organized or having its principal office located in or, in the case of any Lender, having its applicable
            lending office located in, such jurisdiction or (ii) any jurisdiction as a result of any other present or former connection between such recipient and the jurisdiction imposing such Tax (other than a connection arising from such recipient
            having executed, delivered, or become a party to, performed its obligations or received payments under, received or perfected a security interest under, sold or assigned an interest in, engaged in any other transaction pursuant to, or enforced,
            any Loan Documents), (b) any withholding Tax that is attributable to a Lender’s failure to comply with Section 2.17(f), (c) any withholding Tax imposed pursuant to FATCA, (d)
            withholding required on account of the payee receiving a direction under section 255 of the Australian Tax Act or section 260-5 of Schedule 1 of the Taxation Administration Act 1953 or any similar Australian law, and (e) Taxes imposed because
            the payee has not received written notice of that recipient’s Australian tax file number or Australian business number or evidence of any exemption that recipient may have from the need to advise its Australian tax file number or Australian
            business number.

           

          “Existing Administrative Agent and Collateral Agent” means Bank of America, N.A.

           

          “Existing Dollar Term Loans” means the “Dollar Term Loans” under and as defined in
            the Existing Term Loan Credit Agreement.

           

          “Existing Letters of Credit” means each letter of credit identified on Schedule 1.01(a).

           

          “Existing Obligations” means the Secured Obligations under and as defined in the
            Existing Term Loan Credit Agreement.

           

          
            47

            
              

          

          “Existing Revolving Credit Agreement” means that certain Revolving Syndicated
            Facility Agreement, dated as of September 22, 2017 (as amended by that certain Amendment No. 1 and Waiver to Revolving Syndicated Facility Agreement, dated as of February 26, 2019, that certain Consent and Amendment No. 2 to Revolving
            Syndicated Facility Agreement, dated as of March 22, 2019, that certain Amendment No. 3 to Revolving Syndicated Facility Agreement, dated January 31, 2020 and that certain Amendment No. 4 to Revolving Syndicated Facility Agreement, dated as of
            December 23, 2020, and as further amended, supplemented or restated through the date hereof), by and among Holdings, certain Subsidiaries of Holdings party thereto as borrowers, the lenders party thereto from time to time and Wells Fargo Bank,
            National Association, as issuing bank, as swingline lender, as administrative agent.

           

          “Existing Term Loan Credit Agreement” has the meaning assigned to such term in the
            recitals hereto.

           

          “Existing UK Debenture” means that certain English law debenture dated 22 September
            2017 between, amongst others, certain of the UK Loan Parties as chargors, Tronox Limited and Tronox UK Holdings Limited as partners, and the Exiting Administrative Agent and Collateral Agent as Collateral Agent (as successor in interest to the
            Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance with the Agency Successor Agreement).

           

          “Fair Market Value” means with respect to any asset or
            group of assets on any date of determination, the value of the consideration obtainable in a sale of such asset at such date of determination assuming a sale by a willing seller to a willing purchaser dealing at arm’s length and arranged in an
            orderly manner over a reasonable period of time having regard to the nature and characteristics of such asset.  Except as otherwise expressly set forth herein, such value shall be determined in good faith by Holdings.

           

          “FATCA” means Sections
            1471 through 1474 of the Code as in effect on the date hereof (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, any agreements entered into pursuant to current 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 entered into in connection with the implementation of the foregoing.

           

          “Federal Funds Effective Rate” means, for any day, the rate per annum equal to the
            weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next
            succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
            charged to the Administrative Agent on such day on such transactions as determined by the Administrative Agent.

           

          
            48

            
              

          

          “Fifth Amended and Restated Intercompany Note” means that certain Intercompany Note,
            dated as of the Closing Date, by and among Holdings and its Restricted Subsidiares.

           

          “Financial Covenant” means the springing financial covenant specified in Section 6.12.

           

          “Financial Officer” means the chief financial officer,
            principal accounting officer, treasurer or controller of Holdings or the Borrower.

           

          “First Lien Net Leverage Ratio” means, on any date, the
            ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period most recently ended on or prior to such date.

           

          “First Lien Obligations” means the Secured Obligations, Incremental Equivalent Debt
            and the Credit Agreement Refinancing Indebtedness, in each case, that are, or purported to be, secured by the Collateral on an equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the
            Refinancing Term Loans and Initial Revolving Loans.  For the avoidance of doubt, “First Lien Obligations” shall include the Refinancing Term Loans.

           

          “Flood Certificate” means a “Standard Flood Hazard Determination Form” of the
            Federal Emergency Management Agency and any successor Governmental Authority performing a similar function.

           

          “Flood Insurance Laws” means, collectively, (a) the
            National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) the National Flood Insurance
            Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (d) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (e) the Biggert-Waters Flood Insurance Reform Act
            of 2012 as now or hereafter in effect or any successor statute thereto.

           

          “Flood Program” means the National Flood Insurance Program created by the U.S.
            Congress pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, the National Flood Insurance Reform Act of 1994 and the Flood Insurance Reform Act of 2004, in each case as amended from time to time, and
            any successor statutes.

           

          “Flood Zone” means areas having special flood hazards as described in the National
            Flood Insurance Act of 1968, as amended from time to time, and any successor statute.

           

          “floor” means the benchmark rate floor applicable to each Credit Facility, if any,
            provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to LIBOR.

           

          “Foreign Benefit Plan Event” means, with respect to any Foreign Pension Plan, (a)
            the existence of unfunded liabilities in excess of the amount permitted under any applicable law or in excess of the amount that would be permitted absent a waiver from applicable Governmental Authority or (b) the failure to make the required
            contributions or payments, under any applicable law, on or before the due date for such contributions or payments.

           

          
            49

            
              

          

          “Foreign Pension Plan” means any defined benefit plan sponsored, maintained or
            contributed to by any Loan Party or any Foreign Subsidiary that under applicable law is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority (and
            for the avoidance of doubt, does not include any third party superannuation fund to which any Australian Loan Party makes or is obliged to make any contribution).

           

          “Foreign Prepayment Event” has the meaning assigned to
            such term in Section 2.11(h).

           

          “Foreign Subsidiary” means any Subsidiary that is
            organized or incorporated under the laws of a jurisdiction other than the United States of America, any State thereof or the District of Columbia.

           

          “FSHCO” means any direct or indirect Domestic
            Subsidiary of Holdings (other than the Borrower) that has no material assets other than Equity Interests and debt, if any, in one or more direct or indirect Foreign Subsidiaries that are CFCs.

           

          “French Loan Party” means a Loan Party incorporated, organized or otherwise formed
            under the laws of France.

           

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

           

          “Funded Debt” means all Indebtedness of Holdings and the Restricted Subsidiaries for
            borrowed money that (i) matures more than one year from the date of its creation or (ii) matures within one year from the date of its creation but is renewable or extendable, at the option of Holdings or any such Restricted Subsidiary, to a
            date more than one year from the date of its creation or (iii) arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more than one year from such date, including
            Indebtedness in respect of the Loans.

           

          “Future Patent Entity” has
            the meaning assigned to such term in Section 5.01.

           

          “GAAP” means generally accepted accounting principles in the United States of
            America (and with respect to Loan Parties organized under the laws of the Netherlands, accounting principles generally applied in the Netherlands), as in effect from time to time; provided,
            however, that if Holdings notifies the Administrative Agent that Holdings requests an amendment to any provision hereof to eliminate the effect of any change occurring after the
            Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose) that, in each
            case, would effect the computation of any financial ratio or financial requirement, or compliance with any covenant, set forth in any Loan Document, 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; provided, further, that if such an amendment is requested by Holdings or the Required Lenders, then
            the Borrower and the Administrative Agent shall negotiate in good faith to enter into an amendment of the relevant affected provisions (without the payment of any amendment or similar fee to the Lenders) to preserve the original intent thereof
            in light of such change in GAAP or the application thereof.  Notwithstanding any other provision contained herein, (a) 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, without giving effect to any election under FASB Accounting Standards Codification 825-Financial Instruments, or any successor thereto (including pursuant to the FASB Accounting Standards Codification), to
            value any Indebtedness of Holdings or any subsidiary at “fair value,” as defined therein and (b) the amount of any Indebtedness under GAAP with respect to Capital Lease Obligations shall be determined in accordance with Section 1.04.

           

          
            50

            
              

          

          “Governmental Authority” means the government of the
            United States of America, 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 (including any supra-national bodies such as the European Union or the European Central Bank).

           

          “Granting Lender” has the
            meaning assigned to such term in Section 9.04(f).

           

          “Guarantee” of or by any Person (the “guarantor”)

            means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”)
            in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or to purchase (or to advance
            or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, (c) to maintain working
            capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or (d) as an account party in respect of any letter of credit or letter of
            guaranty issued to support such Indebtedness; provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business or customary
            and reasonable indemnity obligations in effect on the Closing Date or entered into after the Closing Date in connection with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to
            Indebtedness).  The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or
            determinable, the maximum reasonably anticipated liability in respect thereof as determined in good faith by a Financial Officer.  The term “Guarantee” as a verb has a corresponding meaning.

           

          “Guarantee Agreement” means that certain Guaranty
            Agreement, dated September 22, 2017, among Holdings, the Borrower, the other Loan Parties party thereto and the Administrative Agent.

           

          
            51

            
              

          

          “Guarantors” has the meaning specified in clause (a) of the definition of
            “Collateral and Guarantee Requirement.”  For avoidance of doubt, the Borrower may, in its sole discretion, cause any Parent Company or Restricted Subsidiary that is not required to be a Guarantor to Guarantee the Secured Obligations by causing
            such Parent Company or Restricted Subsidiary to execute a joinder to the Guarantee Agreement (substantially in the form provided therein or as the Administrative Agent, the Borrower and such Guarantor may otherwise agree), and any such Parent
            Company or Restricted Subsidiary shall be a Guarantor hereunder for all purposes; provided that (i) in the case of any Parent Company or Restricted Subsidiary organized in a
            non-Qualified Jurisdiction, the Administrative Agent shall be reasonably satisfied with the jurisdiction of organization of such Parent Company or Restricted Subsidiary and (ii) the Administrative Agent shall have received at least two (2)
            Business Days prior to the effectiveness of such joinder (or such later date as reasonably agreed by the Administrative Agent) all documentation and other information in respect of such Guarantor required under applicable “know your customer”
            and anti-money laundering rules and regulations, including the USA PATRIOT Act.

           

          “Hazardous Materials” means all explosive, radioactive,
            hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum by-products or distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other
            substances or wastes of any nature regulated as hazardous or toxic (or any other term of similar meaning and regulatory import) pursuant to any Environmental Law.

           

          “Holdings” as defined in the preamble.

           

          “HSBC” means HSBC Bank USA, National Association.

           

          “IFRS” means international accounting standards as
            promulgated by the International Accounting Standards Board.

           

          “Immaterial Subsidiary” means any Subsidiary that is
            not a Material Subsidiary.

           

          “Incremental Cap” shall have the meaning given to such
            term in Section 2.20.

           

          “Incremental Commitments” has the meaning assigned to such term in Section 2.20(a).

           

          “Incremental Equivalent Debt” has the definition assigned to such term in Section 6.01(a)(xxiii).

           

          “Incremental Facility” shall mean the facility in respect of any Incremental Loan.

           

          “Incremental Facility Amendment” has the meaning assigned to such term in Section 2.20(f).

           

          “Incremental Facility Closing Date” has the meaning assigned to such term in Section 2.20(d).

           

          “Incremental Lender” has the meaning assigned to such term in Section 2.20(c).

           

          “Incremental Loan” has the meaning assigned to such term in Section 2.20(b).

           

          “Incremental Request” has the meaning assigned to such term in Section 2.20(a).

           

          
            52

            
              

          

          “Incremental Revolving Credit Lender” has the meaning assigned to such term in Section 2.20(c).

           

          “Incremental Revolving Facility” has the meaning assigned to such term in Section 2.20(a).

           

          “Incremental Revolving Loan Commitment” has the meaning assigned to such term in Section 2.20(a).

           

          “Incremental Revolving Loan” has the meaning assigned to such term in Section 2.20(b).

           

          “Incremental Term Commitment” has the meaning assigned to such term in Section 2.20(a).

           

          “Incremental Lender” has the meaning assigned to such term in Section 2.20(c).

           

          “Incremental Term Loan” has the meaning assigned to such term in Section 2.20(b).

           

           “Indebtedness” of any Person means, 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 to the extent the same would appear as a liability on a balance sheet of such Person prepared in accordance with GAAP,

           

          (c)        all obligations
                of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,

           

          (d)         all
                obligations of such Person in respect of the deferred purchase price of property or services (excluding (i) trade accounts payable in the ordinary course of business, (ii) any earn-out obligation, purchase price adjustment or similar
                obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and if not paid within sixty (60) days after being due and payable and (iii) liabilities associated with customer prepayments
                and deposits),

           

          (e)         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 property owned or acquired by such Person, whether or not the Indebtedness secured thereby has
              been assumed,

           

          (f)          to the extent
                not otherwise included, all Guarantees by such Person of Indebtedness of others,

           

          (g)          all Capital
                Lease Obligations of such Person,

           

          (h)         all
                reimbursement obligations, contingent or otherwise, of such Person as an account party in respect of trade letters of credit and letters of guaranty; provided that unreimbursed amounts under letters of credit will be counted as Indebtedness
                three (3) Business Days after such amount is drawn, and

           

          
            53

            
              

          

          (i)          all
                obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances (other than bankers’ acceptances issued in respect of trade payables);

           

          provided that the term “Indebtedness” shall not include
            (i) deferred or prepaid revenue, (ii) purchase price holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of the seller, (iii) contingent indemnity and similar obligations
            incurred in the ordinary course of business, (iv) Indebtedness of any Parent Entity (for which none of Holdings or any Restricted Subsidiary is liable) appearing on the balance sheet of such Parent Entity solely by reason of push down
            accounting under GAAP, (v) obligations in respect of operating leases, (vi) obligations under or in respect of a Permitted Receivables Financing and (vii) current intercompany liabilities.

           

          The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in
            which such Person is a general partner), to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that
            such Person is not liable therefor.  The amount of Indebtedness of any Person for purposes of clause (e) above shall (unless such Indebtedness has been assumed by such Person) be
            deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the Fair Market Value of the property encumbered thereby as determined by such Person in good faith.

           

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

           

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

           

          “Information” has the meaning assigned to such term in
            Section 9.12(a).

           

          “Initial Revolving Commitment” means, as to each Revolving Lender, its obligation to
            (a) make Initial Revolving Loans to the Borrower pursuant to Section 2.01(b) and (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time
            outstanding not to exceed the Dollar Equivalent amount set forth opposite such Revolving Lender’s name on Schedule 2.01(b) under the caption “Initial Revolving Commitment” or in the
            Assignment Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Initial Revolving Commitment of all Revolving Lenders
            shall be $350,000,000 on the Closing Date, as such amount may be adjusted from time to time in accordance with the terms of this Agreement.

           

          “Initial Revolving Facility” has the meaning assigned to such term in the recitals
            hereto.

           

          “Initial Revolving Loan” means a Loan under the Initial
            Revolving Facility made by a Revolving Lender to the Borrower in respect of its Initial Revolving Commitment pursuant to Sections 2.01(b) or 2.20.

           

          
            54

            
              

          

          “Intellectual Property” has the meaning assigned to
            such term in the U.S. Security Agreement.

           

          “Intellectual Property Security Agreements” has the
            meaning assigned to such term in the U.S. Security Agreement.

           

          “Intercreditor Agreements” means any Market Intercreditor Agreement, and the Pari
            Passu Intercreditor Agreement or any other intercreditor agreement that the Administrative Agent and/or Collateral Agent may enter into pursuant to Section 9.17, as the context may
            require.

           

          “Interest Election Request” means a request by the
            Borrower to convert or continue a Borrowing in accordance with Section 2.07 substantially in the form of Exhibit E hereto.

           

          “Interest Payment Date” means (a) with respect to any
            ABR Loan, the last Business Day of each March, June, September and December, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
            Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period and (c) to
            the extent necessary to create a fungible tranche of Term Loans, the date of the incurrence of any Incremental Term Loans.

           

          “Interest Period” means, with respect to any Eurocurrency 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 months thereafter (or, if available to each Lender participating therein, 12 months or such other
            period less than one month thereafter as the Borrower may elect), 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.  For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

           

          “Inventory” means all “inventory” (as defined in Article 9 of the UCC regardless of
            whether the UCC is applicable to such Collateral), including inventory, merchandise, goods and other personal property that are held for sale or lease or are furnished or are to be furnished under a contract of service, or that constitute raw
            materials, work in process, finished goods, returned goods, or materials or supplies of any kind used or consumed or to be used or consumed in the processing, production, packaging, promotion, delivery or shipping of the same, including all
            supplies and embedded software.

           

          “Investment” means, as to any Person, (a) the purchase
            or other acquisition of Equity Interests or Indebtedness or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other
            Indebtedness or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or
            substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person, other than purchases or other acquisitions of inventory, goods, materials, supplies
            and/or equipment in the ordinary course of business.

           

          
            55

            
              

          

          The amount, as of any date of determination, of (i) any Investment in the form of a loan or an advance shall be the funded principal amount
            thereof outstanding on such date, minus any cash payments actually received by such investor representing interest in respect of such Investment (to the extent any such payment to be deducted does not exceed the remaining principal amount of
            such Investment and without duplication of amounts increasing the Available Amount), but without any adjustment for writedowns or write-offs (including as a result of forgiveness of any portion thereof) with respect to such loan or advance
            after the date thereof, (ii) any Investment in the form of a Guarantee shall be equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or
            determinable, the maximum reasonably anticipated liability in respect thereof, as determined in good faith by a Financial Officer, (iii) any Investment in the form of a transfer of Equity Interests or other non-cash property by the investor to
            the investee, including any such transfer in the form of a capital contribution, shall be the Fair Market Value of such Equity Interests or other property as of the time of the transfer, minus any payments actually received by such investor
            representing a return of capital of, or dividends or other distributions in respect of, such Investment (to the extent such payments do not exceed, in the aggregate, the original amount of such Investment and without duplication of amounts
            increasing the Available Amount), but without any other adjustment for increases or decreases in value of, or write-ups, write-downs or write-offs with respect to, such Investment after the date of such Investment, and (iv) any Investment
            (other than any Investment referred to in clause (i), (ii) or (iii)
            above) by the specified Person in the form of a purchase or other acquisition for value of any Equity Interests, evidences of Indebtedness or other securities of any other Person shall be the original cost of such Investment (including any
            Indebtedness assumed in connection therewith), plus (A) the cost of all additions thereto and minus (B) the amount of any portion of such Investment that has been repaid to the investor in cash as a repayment of principal or a return of
            capital, and of any cash payments actually received to and received by such investor representing interest, dividends or other distributions in respect of such Investment (to the extent the amounts referred to in clause (B) do not, in the aggregate, exceed the original cost of such Investment plus the costs of additions thereto and without duplication of amounts increasing the Available Amount), but without any other
            adjustment for increases or decreases in value of, or write-ups, write-downs or write-offs with respect to, such Investment after the date of such Investment.  For purposes of Section 6.04,
            if an Investment involves the acquisition of more than one Person, the amount of such Investment shall be allocated among the acquired Persons in accordance with GAAP; provided that
            pending the final determination of the amounts to be so allocated in accordance with GAAP, such allocation shall be as reasonably determined by a Financial Officer.

           

          “Investment Grade Rating” means a rating equal to or
            higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other nationally recognized rating agency.

           

          “IRS” means the United States Internal Revenue Service.

           

          
            56

            
              

          

          “ISDA Definitions” means the 2006 ISDA Definitions published by the International
            Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and
            Derivatives Association, Inc. or such successor thereto.

           

          “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit
            request, and any other document, agreement and instrument entered into by any L/C Issuer and the Borrower (or any subsidiary of the Borrower) or in favor of the L/C Issuer and relating to such Letter of Credit.

           

          “ITSA” means an agreement between the members of an
            Australian GST Group which takes effect as an indirect tax sharing agreement under section 444-90 of Schedule 1 of the Australian TAA and complies with the Australian TAA and the Australian GST Act as well as any applicable law, official directive, request, guideline or policy (whether or not having the force of law) issued in connection
            with the Australian TAA, any such agreement to be in form and substance reasonably satisfactory to the Administrative Agent.

           

          “Joint Bookrunners” means HSBC Securities (USA) Inc.,
            Credit Suisse Loan Funding LLC, Citigroup Global Markets Inc., Barclays Bank plc, BNP Paribas Securities Corp., BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs Bank USA.

           

          “Judgment Currency” has the meaning assigned to such term in Section 9.14(b).

           

          “Junior Debt” Indebtedness of any Loan Party that by its terms is contractually
            subordinated in right of payment to the Secured Obligations.

           

          “L/C Advance” means, with respect to each Revolving Lender, such Lender’s funding of
            its participation in any L/C Borrowing in accordance with its Applicable Percentage.

           

          “L/C Borrowing” means an extension of credit resulting from a drawing under any
            Letter of Credit which has not been reimbursed on the date required under Section 2.04(d)(i) or refinanced as a Revolving Loan.

           

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

           

          “L/C Exposure” means at any time the sum of (a) the aggregate undrawn amount of all
            Letters of Credit outstanding at such time and (b) the aggregate principal amount of all L/C Advances that have not yet been reimbursed at such time. The L/C Exposure of any Lender at any time means its Applicable Percentage of the aggregate
            L/C Exposure at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International
            Standard Practices, International Chamber of Commerce No. 590, or by the reason of Article 36 of UCP 600 being excluded as a governance, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

           

          
            57

            
              

          

          
            
              “L/C Issuer” means, with respect to Letters of Credit the Persons listed on Schedule 1.01(b), together with their respective Affiliates, successors and
                permitted assigns in such capacity and any Revolving Lender (including any Person who is a Revolving Lender as of the date such Person becomes an L/C Issuer but subsequently, after agreeing to become an L/C Issuer, ceases to be a Revolving
                Lender and is subject to Section 2.04(m)) which, at the request of the Borrower, and with the consent of the Administrative Agent, agrees in such Revolving Lender’s sole discretion to become an L/C Issuer for the purposes of issuing
                such Letter of Credit, together with its Affiliates, permitted successors and assigns in such capacity.

               

              “L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of
                all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.13.
                For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be
                deemed to be “outstanding” in the amount so remaining available to be drawn.

               

              “L/C Overnight Rate” means for any day, the greater of (i) the Federal Funds Effective Rate and (ii) an overnight rate determined by the applicable L/C Issuer in
                accordance with banking industry rules on interbank compensation.

               

              “Latest Maturity Date” means, at any date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder at such time,
                including the latest maturity or expiration date of any Incremental Facility, any Other Term Loan, any Other Term Commitment, any Other Revolving Loan or any Other Revolving Commitment, in each case as extended in accordance with this
                Agreement from time to time.

               

              “LCA Election” has the meaning assigned to such term in Section 1.08(a).

               

              “LCA Test Date” has the meaning assigned to such term in Section 1.08(a).

               

              “Lead Arrangers” means HSBC Securities (USA) Inc., Credit Suisse Loan Funding LLC, Citigroup Global Markets Inc., Barclays Bank PLC, BNP Paribas Securities Corp.,
                BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs Bank USA.

               

              “Lenders” means the Term Lenders, the Revolving Lenders and, as the context requires, includes an L/C Issuer, and any other Person that shall have become a party
                hereto as a lender pursuant to an Assignment and Assumption, an Incremental Facility Amendment or a Refinancing Amendment, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

               

              “Letter of Credit” means any letter of credit issued hereunder. A Letter of Credit shall be a standby letter of credit and shall be governed by the laws of the State
                of New York, in each case, unless otherwise agreed to by the applicable L/C Issuer.

               

              “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by any L/C
                Issuer.

               

              
                58

                
                  

              

              “Letter of Credit Commitment” means each L/C Issuer’s share of the L/C Sublimit. The Letter of Credit Commitment of each L/C Issuer as of the Closing Date is as
                indicated on Schedule 2.01(b).

               

              “Letter of Credit Expiration Date” means the day that is five Business Days prior to the Revolving Commitment Termination Date then in effect (or, if such day is not
                a Business Day, the next preceding Business Day).

               

              “Letter of Credit Fee” as defined in Section 2.04(i).

               

              “Letter of Credit Sublimit” means an amount equal to the lesser of $125,000,000 and the aggregate unused amount of the Revolving Commitments in effect. The Letter of
                Credit Sublimit is part of, and not in addition to, the Revolving Commitments.

               

              “LIBO Rate” means:

               

              (a)         for any Interest Period with respect to a LIBOR Borrowing in Dollars, the rate per annum
                  equal to the London Interbank Offered Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available
                  source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for
                  delivery on the first day of such Interest Period) with a term equivalent to such Interest Period;

               

              (b)          for any Interest Period with respect to a LIBOR Borrowing in Euros, the EURIBOR Screen
                  Rate or a comparable or successor rate, which rate is approved by the Administrative Agent, at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period;

               

              (c)          for any interest calculation with respect to an ABR Loan on any date, the rate per annum
                  equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for Dollar deposits with a term of one month commencing that day; and

               

              (d)          if the LIBO Rate shall be less than zero, such rate shall be deemed zero for purposes of
                  this Agreement.

               

              “LIBOR”, when used in reference to 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 LIBO Rate or the Adjusted LIBO Rate.

               

              “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge, assignment by way of security, ‘security
                interest’ as defined in the Australian PPS Law or security interest in, on or of such asset and (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.

               

              
                59

                
                  

              

              “Limited Condition Transaction” means any acquisition (including by way of merger) or Investment permitted hereunder by Holdings or one or more of its Restricted
                Subsidiaries of any assets, business or Person permitted to be acquired hereunder, in each case whose consummation is not conditioned on the availability of, or on obtaining, third-party financing.

               

              “Loan Document Obligations” means (a) the due and punctual payment by the Borrower  of (i) the principal of and interest at the applicable rate or rates provided in
                this Agreement (including interest accruing during the pendency of any bankruptcy, insolvency, administration, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans or any
                Letter of Credit, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) all other monetary obligations of the Borrower under or pursuant to this Agreement and each of the other
                Loan Documents or with respect to any Letter of Credit, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including
                monetary obligations incurred during the pendency of any bankruptcy, insolvency, administration, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual payment and
                performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the other Loan Documents or with respect to any Letter of Credit and (c) the due and punctual payment and performance of all the
                obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents or with respect to any Letter of Credit (including interest and monetary obligations incurred during the pendency of any
                bankruptcy, insolvency, administration, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding).

               

              “Loan Documents” means this Agreement, any Incremental Facility Amendment, any Refinancing Amendment, any Loan Modification Agreement, the Guarantee Agreement, the
                Collateral Agreements, the Intercreditor Agreements any promissory notes delivered pursuant to Section 2.09(e).

               

              “Loan Increase” means a Term Loan Increase or Revolving Commitment Increase.

               

              “Loan Modification Agreement” means a Loan Modification Agreement, in form reasonably satisfactory to the Administrative Agent, among the Borrower, the
                Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.24.

               

              “Loan Modification Offer” has the meaning assigned to such term in Section 2.24(a).

               

              “Loan Parties” means Holdings, the Borrower and the Subsidiary Loan Parties.

               

              “Loans” means the loans made by the Lenders to the Borrower  in the form of a Term Loan or Revolving Loan pursuant to this Agreement.

               

              
                60

                
                  

              

              “Market Intercreditor Agreement” means (a) to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which are
                intended to rank equal in priority to the Liens on the Collateral securing the Secured Obligations (but without regard to the control of remedies), a customary intercreditor agreement in form and substance reasonably acceptable to the
                Administrative Agent and the Collateral Agent and Holdings, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank equal in priority to the Liens on the Collateral securing the Secured
                Obligations (but without regard to the control of remedies) and (b) to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which are intended to rank junior to the Liens on the Collateral
                securing the Secured Obligations a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Collateral Agent and Holdings, which agreement shall provide that the Liens on the
                Collateral securing such Indebtedness shall rank junior to the Liens on the Collateral securing the Obligations.

               

              “Master Agreement” has the meaning assigned to such term in the definition of “Swap Agreement.”

               

              “Material Adverse Effect” means, a circumstance or condition that would materially and adversely affect (in each case after taking into account all relevant factors
                or circumstances including any insurance, warranty, indemnity or other resources available to Holdings and its Restricted Subsidiaries or right of recourse against any third party with respect to the relevant circumstance or condition) (i)
                the business, assets, financial condition or results of operations and any obligation of any person in force to provide any equity investment in each case, of Holdings, the Borrower or Holdings and the Restricted Subsidiaries, taken as a
                whole, (ii) the ability of the Loan Parties (taken as a whole) to perform their payment obligations under the applicable Loan Documents or (iii) the rights and remedies (taken as a whole) of the Administrative Agent and the Lenders under
                the applicable Loan Documents.

               

              “Material Indebtedness” means (without duplication) Indebtedness for borrowed money (other than the Loan Document Obligations), Capital Lease Obligations,
                unreimbursed obligations for letter of credit drawings and financial guarantees (other than ordinary course of business contingent reimbursement obligations) to the extent not reimbursed within five Business Days following the drawing
                thereof or obligations in respect of one or more Swap Agreements, of any one or more of Holdings and the Restricted Subsidiaries in an aggregate outstanding principal amount exceeding $75,000,000; provided that in no event shall any
                Permitted Receivables Financing be considered Material Indebtedness for any purpose.  For purposes of determining Material Indebtedness, the “principal amount” of the obligations in respect of any Swap Agreement at any time shall be the
                maximum aggregate amount (giving effect to any netting agreements and/or collateral posted) that Holdings or any Restricted Subsidiary would be required to pay if such Swap Agreement were terminated at such time.

               

              “Material Non-U.S. Real Property” means each parcel of real property and the improvements thereon owned in fee by a Non-U.S. Loan Party (which for the avoidance of
                doubt does not include mining tenements) located in a jurisdiction other than the United States with an individual Fair Market Value of greater than $20,000,000 as determined on the Closing Date for existing real property and on the date of
                acquisition for any after-acquired real property (or the date of substantial completion of any material improvement thereon or new construction thereof).

               

              “Material Real Property” means, collectively, Material Non-U.S. Real Property and Material U.S. Real Property.

               

              
                61

                
                  

              

              “Material U.S. Real Property” means each parcel of real property and the improvements thereon owned in fee by a U.S. Loan Party located in the United States with an
                individual Fair Market Value of greater than $20,000,000, as determined on the Closing Date for existing real property and on the date of acquisition for any after-acquired real property (or the date of substantial completion of any
                material improvement thereon or new construction thereof).

               

              “Material Subsidiary” means each Restricted Subsidiary that, as of the last day of the most recently ended Test Period, had revenues or total assets (determined on a
                consolidated basis for such Restricted Subsidiary and its Restricted Subsidiaries) for such quarter in excess of 10.0% of the consolidated revenues or total assets, as applicable, of Holdings and the Restricted Subsidiaries for such Test
                Period; provided that if at any time and from time to time after the date which is 30 days after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable
                discretion), all Restricted Subsidiaries that are not Guarantors solely because they do not meet the forgoing 10% threshold comprise in the aggregate more than (when taken together with the total assets of the Restricted Subsidiaries of
                such Subsidiaries at the last day of the most recent Test Period) 10.0% of total assets of the Holdings and the Restricted Subsidiaries as of the last day of the most recent Test Period or more than (when taken together with the gross
                revenues of the Restricted Subsidiaries of such Subsidiaries for such Test Period) 10.0% of the consolidated gross revenues of Holdings and the Restricted Subsidiaries for such Test Period, then the Borrower shall, not later than sixty (60)
                days after the date by which financial statements for such Test Period were required to be delivered pursuant to this Agreement (or such longer period as the Administrative Agent may agree in its reasonable discretion), (i) designate in
                writing to the Administrative Agent one or more Restricted Subsidiaries as “Material Subsidiaries” to the extent required such that the foregoing condition ceases to be true and (ii) comply with the provisions of Section 5.13 with
                respect to any such Restricted Subsidiaries (to the extent applicable), in each case, other than any Restricted Subsidiaries that otherwise constitute Excluded Subsidiaries.

               

              “Maturity Limitation Excluded Amount” means an aggregate amount equal to the greater of (x) $700,000,000 and (y) 100% of Consolidated EBITDA for the most recently
                completed Test Period (calculated on a Pro Forma Basis), less the aggregate outstanding principal amount of Credit Agreement Refinancing Indebtedness, Incremental Facilities, Incremental Equivalent Debt, Permitted Debt Exchange
                Notes, Ratio Indebtedness and Permitted Refinancings with respect to the foregoing, in each case to the extent incurred in reliance on such Maturity Limitation Excluded Amount (it being understood and agreed that Permitted Refinancings
                incurred in reliance on the Maturity Limitation Excluded Amount may exceed the remaining amount available to be utilized pursuant to this definition above by an amount not to exceed the amounts set forth in clause (a)(i) of the definition
                of Permitted Refinancing).

               

              “Maturity Date” means (i) with respect to any Term Loans, the applicable Term Maturity Date and (ii) with respect to any Revolving Loans, the applicable Revolving
                Maturity Date; provided that, in each case, if such day is not a Business Day, the applicable Maturity Date shall be the Business Day immediately preceding such day.

               

              “Maximum Tender Condition” has the meaning set forth in Section 2.25(b).

               

              “MFN Adjustment” has the meaning provided in Section 2.20(e)(iii).

               

              
                62

                
                  

              

              “MFN Conditions” means, with respect to any Incremental Term Loan that is subject to the MFN Adjustment, that such Incremental Term Loan: (a) has a maturity date
                within 12 months after the Term Maturity Date for the Refinancing Term Loans, (b) is in the form of broadly syndicated Dollar denominated Incremental Term Loans, (c) is incurred under Starter Amount or Incremental Prepayment Amount of the
                Incremental Cap, (d) is incurred within 12 months after the Closing Date, (e) is not incurred in connection with a Permitted Acquisition  or similar investment, (f) is in an aggregate principal amount equal to or greater than the greater of
                (x) $700,000,000 and (y) 100% of Consolidated EBITDA of the most recently ended Test Period and (g) is secured on a pari passu basis with the Liens securing the Refinancing Term Loans hereunder.

               

              “Minimum Tender Condition” has the meaning set forth in Section 2.25(b).

               

              “Mining Mortgage” means a mortgage granting a Lien on any Mining Property to secure the Secured Obligations.

               

              “Mining Property” means (i) each mining tenement (as defined or described in any Requirement of Law in respect of mining, exploration or prospecting) held by a Loan
                Party, (ii) all mineral sands and other metals and minerals (as defined or described in any Requirement of Law in respect of mining, exploration or prospecting) and including precious stones, buildings, improvements, structures, systems,
                fixtures, plant, machinery, tools and other personal property from time to time in or on each mining tenement described in clause (i) above or the area of the land the subject of that mining tenement and (iii) any certificate,
                registration, title or other evidence of ownership of, or rights to, anything described in a clause above.

               

              “MIRE Event” means if there are any Mortgaged Properties at such time, any increase, extension of the maturity or renewal of any of the Commitments or Loans
                (including an Incremental Facility Amendment, Loan Modification Agreement, Permitted Amendment or Refinancing Amendment, but excluding for the avoidance of doubt (a) any continuation or conversion of borrowings or (b) the making of any
                Loan).

               

              “Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business.

               

              “Mortgage” means a mortgage, Mining Mortgage, deed of trust, assignment of leases and rents or other security document granting a Lien on any Mortgaged Property or
                any other parcel of real property and the improvements thereon in respect of which a Lien is required by the Loan Documents to be granted to secure the Secured Obligations (including any Mining Property), provided, however,
                in the event any Mortgaged Property is located in a jurisdiction which imposes mortgage recording taxes or similar fees, the applicable Mortgage shall not secure an amount in excess of 100% of the Fair Market Value of such Mortgaged
                Property.

               

              “Mortgaged Property” means each parcel of Material U.S. Real Property and the improvements thereon owned in fee by a Loan Party with respect to which a Mortgage is
                granted pursuant to the Collateral and Guarantee Requirement, Section 5.13, Section 5.14 and Section 5.17 (if any).

               

              “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA to which a Loan Party or any ERISA Affiliate makes or is obligated to
                make contributions or with respect to which any Loan Party or ERISA Affiliate could have liability under Section 4212(c) of ERISA.

               

              
                63

                
                  

              

              “Net Proceeds” means, with respect to any event, (a) the proceeds received in respect of such event in cash or Cash Equivalents, including (i) any cash or Cash
                Equivalents received in respect of any non-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 or earn-out (but excluding any
                interest payments), but only as and when received, and (ii) in the case of a Recovery Event, insurance proceeds or condemnation or similar awards that are actually received, minus (b) the sum of (i) all fees and out-of-pocket
                expenses paid by Holdings and the Restricted Subsidiaries in connection with such event (including attorney’s fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes,
                deed or mortgage recording taxes, underwriting discounts and commissions, other customary expenses and brokerage, consultant, accountant and other customary fees), (ii) (x) in the case of a Disposition, the amount of all payments that are
                permitted hereunder and are made by Holdings and the Restricted Subsidiaries as a result of such event to repay Indebtedness permitted to be incurred and outstanding hereunder (other than (1) the Loans or (2) other pari passu or junior
                secured Indebtedness that is secured by a Lien on the Collateral and incurred or outstanding pursuant to Section 6.01(a)) and secured by such asset or otherwise subject to mandatory prepayment as a result of such event, (y) in the
                case of a Disposition, the pro rata portion of net cash proceeds thereof (calculated without regard to this clause (y)) attributable to minority interests and not available for distribution to or for the account of Holdings and the
                Restricted Subsidiaries as a result thereof and (z) the amount of any liabilities directly associated with such asset and retained by Holdings or the Restricted Subsidiaries and (iii) the amount of all Taxes paid (or reasonably estimated to
                be payable), and the amount of any reserves established by the Borrower and the Restricted Subsidiaries to fund contingent liabilities reasonably estimated to be payable, that are directly attributable to such event, provided that
                any reduction at any time in the amount of any such reserves (other than as a result of payments made in respect thereof) shall be deemed to constitute the receipt by the Borrower at such time of Net Proceeds in the amount of such
                reduction.

               

              “Net Short Lender” has the meaning specified in Section 9.02(h).

               

              “New Term Lender” has the meaning assigned to such term in the Amendment.

               

              “New Zealand Dollars” shall mean the lawful currency of New Zealand.

               

              “Non-Accepting Lender” has the meaning assigned to such term in Section 2.24(c)

               

              “Non-Cash Compensation Expense” means any non-cash expenses and costs that result from the issuance of stock-based awards, partnership interest-based awards and
                similar incentive based compensation awards or arrangements.

               

              “Non-Consenting Lender” has the meaning assigned to such term in Section 9.02(d).

               

              “Non-US Loan Party” means any Loan Party that is not organized in or under the laws of the United States, any State thereof, or the District of Columbia.

               

              
                64

                
                  

              

              “Not Otherwise Applied” means, with reference to the Available Amount, that such amount was not previously (or concurrently) applied pursuant to Section
                  6.01(a)(xxvi), 6.04(o)(B), 6.08(a)(viii) or 6.08(b)(iv).

               

              “Notice of Prepayment” a notice of prepayment in the form of Exhibit F hereto or such other form that is acceptable to the Administrative Agent.

               

              “OFAC” has the meaning assigned to such term in Section 3.16(c).

               

              “Organizational Documents” means (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable
                constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement (or equivalent or comparable constitutive
                documents with respect to any non-U.S. jurisdiction); and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization
                and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable,
                any certificate or articles of formation or organization of such entity.

               

              “Other Loans” means one or more Classes of Loans that result from a Refinancing Amendment or Loan Modification Agreement.

               

              “Other Revolving Commitment” means one or more Classes of revolving credit commitments hereunder or extended Initial Revolving Commitments or Incremental Revolving
                Commitments that result from a Refinancing Amendment or a Loan Modification Agreement.

               

              “Other Revolving Loans” means the Loans made pursuant to any Other Revolving Commitment or a Loan Modification Agreement.

               

              “Other Taxes” means any and all present or future recording, stamp, court or documentary, intangible, filing, or similar Taxes arising from any payment made under
                any Loan Document or from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are
                imposed as a result of a present or former connection between the recipient and the jurisdiction imposing such Tax (other than connections arising from such recipient having executed, delivered, become a party to, performed its obligations
                under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan Document) and are imposed with respect
                to an assignment, other than an assignment pursuant to Section 2.19.

               

              “Other Term Commitments” means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment or a Loan Modification Agreement.

               

              “Other Term Loans” means one or more Classes of term loans that result from a Refinancing Amendment or a Loan Modification Agreement.

               

              
                65

                
                  

              

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

               

              “Parent Entity” means any Person that is a direct or indirect parent of Holdings and of which Holdings is a direct or indirect wholly-owned subsidiary.

               

              “Pari Passu Intercreditor Agreement” means that certain First Lien Pari Passu Intercreditor Agreement (as amended, restated, amended and restated, supplemented or
                otherwise modified from time to time) dated as of May 1, 2020, among Bank of America, N.A., Wilmington Trust, National Association, and each additional representative and collateral agent from time to time party thereto, including the
                Administrative Agent, and acknowledged and agreed to by the Loan Parties party thereto.

               

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

               

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

               

              “Participating Member State” means any member state of the European Union that has the euro as its lawful currency in accordance with legislation of the European
                Union relating to Economic and Monetary Union.

               

               

              “Payoff Letter” has the meaning assigned to such term in Section 4.01(l).

               

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

               

              “Perfection Requirements” means the need for filings or registrations or the taking of actions needed to establish control necessary or, in the reasonable judgment
                of the Administrative Agent or Collateral Agent, advisable, in each applicable jurisdiction, to create or perfect Liens over the Collateral granted by the Loan Parties in favor of the Secured Parties and the delivery to the Collateral Agent
                of any stock certificate or other certificate of title required to be delivered pursuant to the applicable Loan Documents, together with instruments of transfer executed in blank.

               

              “Permitted Acquisition” means an Acquisition Transaction together with other Investments necessary to consummate such Acquisition Transaction; provided that:

               

              (a)        except in the case of a Limited Condition Transaction (in which case, compliance with this
                  clause (a) shall be determined in accordance with Section 1.08(a)), after giving Pro Forma Effect to any such Acquisition Transaction or Investment, no Event of Default shall have occurred and be continuing,

               

              
                66

                
                  

              

              (b)          the business of such Person, or such assets, as the case may be, will be a Similar
                  Business, and

               

              (c)          such acquired person becomes a Restricted Subsidiary.

               

              “Permitted Amendment” means an amendment to this Agreement and, if applicable the other Loan Documents, effected in connection with a Loan Modification Offer
                pursuant to Section 2.24, providing for an extension of a maturity date applicable to the Loans and/or Commitments of the Accepting Lenders and, in connection therewith, (a) a change in the Applicable Rate and/or modifying the
                amortization schedule with respect to the Loans and/or Commitments of the Accepting Lenders, (b) a change in the fees payable to, or the inclusion of new fees to be payable to, the Accepting Lenders and/or (c) amended covenants or other
                provisions shall be substantially identical to or not more favorable (when taken as a whole and as reasonably determined by the Borrower) to the Accepting Lenders than the Indebtedness subject to such Loan Modification Offer unless (i) also
                added for the benefit of the Loans remaining outstanding after the issuance or incurrence of such Indebtedness (ii) only applicable after the Latest Maturity Date at the time of such refinancing, (iii) as reasonably agreed by the
                Administrative Agent or (iv) reflect market terms and conditions (taken as a whole) at the time of occurrence, issuance or effectiveness (as determined in good faith by the Borrower).

               

              “Permitted Debt Exchange” has the meaning assigned to such term in Section 2.25(a).

               

              “Permitted Debt Exchange Notes” has the meaning assigned to such term in Section 2.25(a).

               

              “Permitted Debt Exchange Offer” has the meaning assigned to such term in Section 2.25(a).

               

              “Permitted Encumbrances” means:

               

              (a)          Liens for taxes, assessments or other governmental charges that are not delinquent for a
                  period of more than (x) in the case of any such Liens on any assets of any Person organized under the laws of the United States, the United Kingdom or Australia or any state, province or other subdivision thereof, 30 days and (y)
                  otherwise, 60 days, or that are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP, in
                  each case, the nonpayment of which could not reasonably be expected to result in a Material Adverse Effect;

               

              (b)         Liens imposed by statutory or common law, such as landlords’ carriers’, warehousemen’s,
                  mechanics’, materialmen’s, repairmen’s or construction contractors’ Liens and other similar Liens, arising in the ordinary course of business that secure amounts not overdue for a period of more than (x) in the case of any such Liens on
                  any assets of any Person organized under the laws of the United States, the United Kingdom or Australia or any state, province or other subdivision thereof, 30 days and (y) otherwise, 60 days, or, in each such case, if more than 30 days
                  (in the case of clause (x)) and 60 days (in the case of clause (y)) overdue, are unfiled and no other action has been taken to enforce such Liens or that are being contested in good faith and by appropriate proceedings diligently
                  conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP, in each case so long as such Liens could not reasonably be expected to individually or in the aggregate
                  have a Material Adverse Effect;

               

              
                67

                
                  

              

              (c)        (i) Liens incurred or pledges or deposits made in the ordinary course of business in
                  connection with workers’ compensation, payroll taxes, unemployment insurance and other social security legislation or (ii) pledges or deposits made in the ordinary course of business securing liability for reimbursement or indemnification
                  obligations of (including obligations in respect of letters of credit or bank guarantees or similar instruments for the benefit of) insurance carriers providing property, casualty or liability insurance to Holdings or any Restricted
                  Subsidiary or otherwise supporting the payment of items of the type set forth in the foregoing clause (i);

               

              (d)       Liens incurred or deposits made to secure the performance of tenders, bids, trade contracts
                  (other than for the payment of Indebtedness), governmental contracts and leases (other than Capital Lease Obligations), statutory obligations, surety, stay, customs and appeal bonds, performance bonds, bankers’ acceptance facilities and
                  other obligations of a like nature (including those to secure health, safety and environmental obligations) and obligations in respect of letters of credit, bank guarantees or similar instruments that have been posted to support the same,
                  in each case incurred in the ordinary course of business or consistent with past practices;

               

              (e)        easements, rights-of-way, restrictions, covenants, conditions, encroachments, protrusions,
                  zoning restrictions and other similar encumbrances, matters that are or would be reflected on a survey of any real property, irregularities of title, title defects affecting real property that, in the aggregate, do not materially
                  interfere with the ordinary conduct of the business of Holdings and the Restricted Subsidiaries, taken as a whole;

               

              (f)        (i) Liens securing, or otherwise arising from, judgments, awards attachments and/or
                  decrees and notices of lis pendens and associated rights relating to litigation being contested in good faith not constituting an Event of Default under Section 7.01(i) and (ii) any pledge
                  and/or deposit securing any settlement of litigation;

               

              (g)         Liens on goods the purchase price of which is financed by a documentary letter of credit
                  issued for the account of Holdings or any of the Restricted Subsidiaries or Liens on bills of lading, drafts or other documents of title arising by operation of law or pursuant to the standard terms of agreements relating to letters of
                  credit, bank guarantees and other similar instruments; provided that such Lien secures only the obligations of Holdings or such Restricted Subsidiaries
                    in respect of such letter of credit, bank guarantee or other similar instrument to the extent such obligations are permitted by Section 6.01;

               

              (h)         rights of setoff, banker’s lien, netting agreements and other Liens arising by operation
                  of law or by of the terms of documents of banks or other financial institutions in relation to the maintenance of administration of deposit accounts, securities accounts or cash management arrangements or in connection with the issuance
                  of letters of credit, bank guarantees or other similar instruments; and

               

              
                68

                
                  

              

              (i)         Liens arising from precautionary Uniform Commercial Code financing statements, Australian
                  PPS Law financing statements or any similar filings made in respect of operating leases or consignment or bailee arrangements entered into by Holdings or any of the Restricted Subsidiaries.

               

              “Permitted First Priority Refinancing Debt” means any secured Indebtedness incurred by Holdings or any other Loan Party in the form of one or more series of senior
                secured notes, bonds or debentures or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on an equal priority basis (but without control of remedies) with the Loan Document Obligations, (ii) such
                Indebtedness satisfies the applicable requirements set forth in the provisos to the definition of “Credit Agreement Refinancing Indebtedness,” and (iii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have
                become party to the Pari Passu Intercreditor Agreement or a Market Intercreditor Agreement.  Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

               

               “Permitted Receivables Financing” means a securitization or other similar financing (including any factoring program) of Permitted Receivables Financing Assets that
                is non-recourse to Holdings, the Borrower and the Restricted Subsidiaries (except for (w) recourse to any Foreign Subsidiaries that own the assets underlying such financing (or have sold such assets in connection with such financing), (x)
                any customary limited recourse pursuant to the Standard Securitization Undertakings or, to the extent applicable only to non-Loan Parties, recourse that is customary in the relevant local market, (y) any performance undertaking or
                Guarantee, to the extent applicable only to non-Loan Parties, that is customary in the relevant local market, and (z) an unsecured parent Guarantee by Holdings or any Restricted Subsidiary that is a parent company of a Foreign Subsidiary of
                obligations of Foreign Subsidiaries, and, in each case, reasonable extensions thereof).

               

              “Permitted Receivables Financing Assets” means (a) any accounts receivable, loan receivables, mortgage receivables, receivables or loans relating to the financing of
                insurance premiums, royalty, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all assets securing or related to any such receivable or asset, all contracts and contract rights,
                guarantees or other obligations in respect of any such receivable or asset, lockbox accounts and records with respect to any such receivable or assets and any other assets (including inventory and proceeds thereof) customarily transferred
                (or in respect of which security interests are customarily granted) together with receivables or assets in connection with a securitization, factoring or receivables financing or sale transaction.

               

              “Permitted Refinancing” means, with respect to any Person, any modification, refinancing, refunding, renewal or extension of any Indebtedness of such Person (such
                Indebtedness, the “Refinanced Debt”); provided that

               

              (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Refinanced Debt except
                (i) by an amount equal to unpaid accrued interest and premium (including tender premiums) thereon plus underwriting discounts, other amounts paid, and fees, commissions and expenses (including upfront fees, original issue discount or
                initial yield payments) incurred, in connection with such modification, refinancing, refunding, renewal or extension, (ii) by an amount equal to any existing revolving commitments unutilized thereunder to the extent that the portion of any
                existing and unutilized revolving commitment being refinanced was permitted to be drawn under Section 6.01 immediately prior to such refinancing (other than by reference to a Permitted Refinancing) and such drawing shall be deemed
                to have been made and (iii) to the extent such excess amounts is otherwise permitted to be incurred under Section 6.01,

               

              
                69

                
                  

              

              (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 6.01(a)(v), (vii), (a)(xiv) (other
                than in respect of Indebtedness for borrowed money), (a)(xvii) or to the extent permitted pursuant to the Maturity Limitation Excluded Amount, Indebtedness resulting from such modification, refinancing, refunding, renewal or
                extension has a final maturity date equal to or later than the earlier of (i) the Term Maturity Date for the Refinancing Term Facility and (ii) the final maturity date of the Refinanced Debt;

               

              (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 6.01(a)(v), (vii), (a)(xiv) (other
                than in respect of Indebtedness for borrowed money), (a)(xvii) or to the extent permitted pursuant to the Maturity Limitation Excluded Amount, Indebtedness resulting from such modification, refinancing, refunding, renewal or
                extension has a Weighted Average Life to Maturity equal to or greater than the shorter of (i) the Weighted Average Life to Maturity of the Refinancing Term Facility and (ii) the Weighted Average Life to Maturity of the Refinanced Debt,

               

              (d) if the Indebtedness being modified, refinanced, refunded, renewed or extended is subordinated in right of payment to the Loan Document Obligations, Indebtedness
                resulting from such modification, refinancing, refunding, renewal or extension is subordinated in right of payment to the Loan Document Obligations on terms at least as favorable to the Lenders as those contained in the documentation
                governing the Refinanced Debt,

               

              (e) such Permitted Refinancing is not secured by a Lien on any assets other than the collateral securing, and with no higher priority than, the Refinanced Debt (unless such
                Lien is permitted by a separate provision of Section 6.02);

               

              (f) if unsecured, such Indebtedness shall remain unsecured (unless permitted to be secured by a separate provision of Section 6.02) and

               

              (g) no Loan Party that was not an obligor with respect to the Refinanced Debt shall be an obligor under the Permitted Refinancing (unless permitted to by guaranteed by a
                separate provision of Section 6.01(a) and 6.04) and if the Refinanced Debt was (or was required to be) subject to a Market Intercreditor Agreement and/or the Pari Passu Intercreditor Agreement, the holders of such Permitted
                Refinancing (if such Indebtedness is secured) or their authorized representative on their behalf, shall become party to such Market Intercreditor Agreement and/or the Pari Passu Intercreditor Agreement, in each case providing for the same
                (or lesser) lien priority.  For the avoidance of doubt, it is understood and agreed that a Permitted Refinancing includes successive Permitted Refinancings of the same Indebtedness.

               

              
                70

                
                  

              

              “Permitted Reorganization” means, to the extent not otherwise permitted under this Agreement, any corporate reorganization (or similar transaction or event)
                undertaken (each, a “Reorganization”), and each step reasonably required to effect such Reorganization, provided that, in connection therewith, (x) any assets distributed that were, immediately prior to such Reorganization, owned by
                Holdings and its Restricted Subsidiaries, continue to be owned by Holdings and its Restricted Subsidiaries, (y) any assets that were, immediately prior to such Reorganization, owned by a Loan Party prior to such Reorganization, continue to
                be owned by a Loan Party after giving effect to such Reorganization, and (z) any assets subject to a Lien in favor of the Collateral Agent immediately prior to such Reorganization shall be subject to a Lien in favor of the Collateral Agent
                after giving effect to such Reorganization; provided that, such Reorganization shall only qualify as a Permitted Reorganization if (w) no Default or Event of Default is continuing, (x) such Restructuring does not impair the
                Guarantee or the security interests of the Lenders in any material respect and is otherwise not adverse to the Lenders in any material respect, (y) the Borrower shall not change its jurisdiction of organization or formation in connection
                therewith and (z) after giving effect to such Restructuring, Holdings and its Restricted Subsidiaries otherwise comply with Section 5.14.

               

              “Permitted Second Priority Refinancing Debt” means any secured Indebtedness incurred by Holdings or any other Loan Party in the form of one or more series of junior
                lien secured notes, bonds or debentures or junior lien secured loans; provided that (i) such Indebtedness is secured by the Collateral on a junior basis with the Loan Document Obligations, (ii) such Indebtedness satisfies the
                applicable requirements set forth in the provisos to the definition of “Credit Agreement Refinancing Indebtedness,” and (iii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Market
                Intercreditor Agreement.  Permitted Second Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

               

              “Permitted Transferees” means, with respect to any Person that is a natural person (and any Permitted Transferee of such Person), (a) such Person’s immediate family,
                including his or her spouse, ex-spouse, children, step-children and their respective lineal descendants, (b) any trust or other legal entity the beneficiary of which is such Person’s immediate family, including his or her spouse, ex-spouse,
                children, stepchildren or their respective lineal descendants and (c) without duplication with any of the foregoing, such Person’s heirs, executors and/or administrators upon the death of such Person and any other Person who was an
                Affiliate of such Person upon the death of such Person and who, upon such death, directly or indirectly owned Equity Interests in Holdings.

               

              “Permitted Unsecured Refinancing Debt” means unsecured Indebtedness incurred by Holdings or any other Loan Party in the form of one or more series of senior
                unsecured notes, bonds or debentures or loans; provided that (i) such Indebtedness satisfies the applicable requirements set forth in the provisos to the definition of “Credit Agreement Refinancing Indebtedness” and (ii) such
                Indebtedness is not secured by any Lien on any property or assets of Holdings or any Restricted Subsidiary.  Permitted Unsecured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

               

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

               

              “Plan” means any “employee pension benefit plan” as defined in Section 3(2) of ERISA (other than a Multiemployer Plan) which is 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 a 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.

               

              
                71

                
                  

              

              “Planned Expenditures” has the meaning assigned to such term in clause (b)(vii) of the definition of “Excess Cash Flow”.

               

              “Platform” has the meaning assigned to such term in Section 5.01.

               

              “Prepayment” has the meaning assigned to such term in the recitals.

               

              “Prepayment Event” means:

               

              (a)         any sale, transfer or other Disposition of any property or asset of Holdings or any
                  Restricted Subsidiary pursuant to Section 6.05(j) or the occurrence of any Recovery Event (or series of related Dispositions or Recovery Events) resulting, in each case, in Net Proceeds exceeding the greater of (x) $35,000,000 or
                  (y) 5.00% of Consolidated EBITDA, in the aggregate in any fiscal year (the “Disposal Basket”). For the avoidance of doubt, only Net Proceeds in excess of such amount shall be subject to the mandatory prepayment provisions set forth
                  in Section 2.11(b) and no Prepayment Event shall occur pursuant to this clause (a)(i) in any fiscal year until the Net Proceeds received during such fiscal year exceed the Disposal Basket; or

               

              (b)         the incurrence by Holdings or any Restricted Subsidiary of any Indebtedness, other than
                  Indebtedness permitted under Section 6.01 (other than Permitted Unsecured Refinancing Debt, Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt constituting Secured Obligations) or permitted by
                  the Required Lenders pursuant to Section 9.02.

               

              “Prime Rate” means the rate of interest per annum published by the Wall Street Journal from time to time as the “prime rate”.

               

              “Pro Forma Basis,” “Pro Forma Compliance” and “Pro Forma Effect” means, with respect to compliance with any test or covenant or calculation of any
                ratio hereunder, the determination or calculation of such test, covenant or ratio (including in connection with Specified Transactions) in accordance with Section 1.14.

               

              “Pro Forma Financial Statements” has the meaning assigned to such term in Section 4.01.

               

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

               

              “Proposed Change” has the meaning assigned to such term in Section 9.02(d).

               

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

               

              “Public Lender” has the meaning assigned to such term in Section 5.01.

               

              
                72

                
                  

              

              “Public Offering” means the issuance by Holdings or any Parent Entity of its common Capital Stock in a public offering pursuant to an effective registration
                statement filed with the SEC or any other comparable Governmental Authority in any other applicable jurisdiction (whether alone or in connection with a further public offering).

               

              “Qualified Equity Interests” means Equity Interests other than Disqualified Equity Interests.

               

              “Qualified Jurisdiction” means the United States; any State thereof, or the District of Columbia; France; England and Wales; the Commonwealth of Australia; the
                Netherlands or any other jurisdiction agreed to by the Administrative Agent and the Borrower, in their respective sole discretion.

               

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

               

              “Receivables Subsidiary” means any Special Purpose Entity established in connection with a Permitted Receivables Financing and any other subsidiary (other than any
                Loan Party) involved in a Permitted Receivables Financing which is not permitted by the terms of such Permitted Receivables Financing to guarantee the Secured Obligations or provide Collateral.

               

              “Recovery Event” means the receipt by Holdings or any of its Restricted Subsidiaries of any insurance proceeds in respect of any equipment, fixed assets or real
                property or condemnation awards payable (i) by reason of theft, loss, physical destruction, damage, taking or any other similar event with respect to any Collateral (but not by reason of any loss of revenues or interruption of business or
                operations caused thereby) and (ii) under any policy of insurance, in each case to the extent such proceeds or awards do not constitute reimbursement or compensation for amounts previously paid by Holdings or any of its Restricted
                Subsidiaries in respect of any such event but not by reason of any loss of revenues or interruption of business or operations caused thereby.

               

              “Reference Rate” means (x) with respect to the calculation of the Effective Yield in the case of Loans of an applicable Class that includes a LIBO Rate floor, an
                interest rate per annum equal to the rate per annum equal to LIBOR, as published on the applicable Bloomberg screen page (or such other commercially available source providing quotations of LIBOR as may be designated by the Administrative
                Agent from time to time) at approximately 11:00 a.m., London time, on such day for Dollar deposits with a term of three months, or if such rate is not available at such time for any reason, the rate per annum determined by the
                Administrative Agent to be the rate at which deposits in Dollars for delivery on such day with a term of three months would be offered by the Administrative Agent’s London Branch to major banks in the London interbank Eurodollar market at
                their request at approximately 11:00 a.m., London time, on such date and (y) with respect to the calculation of the Effective Yield in the case of Loans of an applicable Class that includes a Alternate Rate floor, the interest rate per
                annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the Prime Rate and (c) the LIBO Rate on such day for an Interest Period of one (1) month plus 1.00% (or, if such day is not a Business Day, the immediately
                preceding Business Day).

               

              
                73

                
                  

              

              “Reference Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is LIBOR, 11:00 a.m. (London time) on the day that is two
                London banking days preceding the date of such setting, and (2) if such Benchmark is not LIBOR, the time determined by the Administrative Agent in its reasonable discretion.

               

              “Refinanced Credit Agreement Debt” has the meaning assigned to such term in the definition of “Credit Agreement Refinancing Indebtedness”.

               

              “Refinanced Debt” has the meaning assigned to such term in the definition of “Permitted Refinancing Indebtedness.”

               

              “Refinancing Amendment” means an amendment to this Agreement executed by each of (a) the Borrower, Holdings and the other Loan Parties, (b) the Administrative Agent
                and (c) each Additional Lender and Lender that agrees to provide any portion of the Credit Agreement Refinancing Indebtedness being incurred pursuant thereto, in accordance with Section 2.21.

               

              “Refinancing Participation Notice” has the meaning assigned to such term in the Amendment.

               

              “Refinancing Term Commitment” means, with respect to each Term Lender, the commitment of such Term Lender to make a Refinancing Term Loan hereunder on the Closing
                Date.  The amount of each Term Lender’s Refinancing Term Commitment is set forth on Schedule 2.01(a) under the caption “Refinancing Term Commitment”. As of the Closing Date, the total Refinancing Term Commitment is $1,300,000,000.

               

              “Refinancing Term Loan” means a Loan under the Refinancing Term Facility made by a Term Lender to the Borrower in respect of its Refinancing Term Commitment pursuant
                to Sections 2.01(a) or 2.20.

               

              “Refinancing Term Facility” has the meaning assigned to such term in the recitals hereto.

               

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

               

              “Registered Equivalent Notes” means, with respect to any notes originally issued in a Rule 144A or other private placement transaction under the Securities Act,
                substantially identical notes (having substantially the same Guarantees) issued in a Dollar-for-Dollar exchange therefor pursuant to an exchange offer registered with the SEC.

               

              “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the officers, directors, employee, partners, members, agents, advisors
                and other representatives of such Person and of each of such Person’s Affiliates and permitted successors and assigns.

               

              “Release” means any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through
                the environment (including ambient air, surface water, groundwater, land surface or subsurface strata and including the environment within any building or other structure).

               

              
                74

                
                  

              

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

               

              “Removal Effective Date” has the meaning assigned to such term in Article VIII.

               

              “Reorganization” has the meaning assigned to such term in the definition of “Permitted Reorganization”.

               

              “Representative” has the meaning assigned to such term in Section 9.12.

               

              “Repricing Transaction” means (a) the incurrence any Loan Party of any Indebtedness in the form of broadly syndicated term loans secured on a pari passu basis with
                the Term Loans (i) having an Effective Yield for the respective Type of such Indebtedness that is less than (and not by virtue of any fluctuation in any “base” rate) the Effective Yield for the Refinancing Term Loans, but excluding
                Indebtedness incurred in connection with (A) a Public Offering yielding proceeds in excess of $75,000,000, (B) a Change in Control or (C) or a Transformative Acquisition, and (ii) the proceeds of which are used to prepay (or, in the case of
                a conversion, deemed to prepay or replace), in whole or in part, outstanding principal of Refinancing Term Loans or (b) any effective reduction in the Effective Yield for the Refinancing Term Loans (e.g., by way of amendment, waiver or
                otherwise), except for a reduction in connection with (A) a Public Offering yielding proceeds in excess of $75,000,000, (B) a Change in Control or (C) a Transformative Acquisition. 

               

              “Required Facility Lenders” means, as of any date of determination, with respect to one or more Credit Facilities, Lenders having more than 50% of the sum of (a) the
                Total Outstandings under such Credit Facility or Credit Facilities (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations under such Credit Facility or Credit Facilities being deemed
                “held” by such Lender for purposes of this definition) and (b) the aggregate unused Commitments under such Credit Facility or Credit Facilities; provided that the unused Commitments of, and the
                portion of the Total Outstandings under such Credit Facility or Credit Facilities held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Facility Lenders; provided, further, that, to the same extent specified in Section 9.04(g) with respect to determination of Required Lenders, the Loans of any Affiliated
                Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders unless the action in question affects such Affiliated Lender in a disproportionately adverse manner than its effect on the other
                Lenders.

               

              “Required Lenders” means, at any time, one or more Lenders having or holding more than 50.0% of the Term Loan Exposure and Revolving Exposure; provided
                whenever there are one or more Defaulting Lenders, the Term Loan Exposure of each Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

               

              “Requirements of Law” means, with respect to any Person, any statutes, laws, treaties, rules, regulations, orders, decrees, writs, injunctions or determinations of
                any arbitrator or 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.

               

              
                75

                
                  

              

              “Resignation Effective Date” has the meaning assigned to such term in Article VIII.

               

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

               

              “Responsible Officer” means the chief executive officer, president, vice president, chief financial officer, secretary, treasurer or assistant treasurer, or other
                similar officer, manager or a director of a Loan Party and with respect to certain limited liability companies or partnerships that do not have officers, any manager, sole member, managing member or general partner thereof or any other
                officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent.  Any document delivered hereunder that is signed by a Responsible Officer of a Loan
                Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of
                such Loan Party.

               

              “Restricted Debt Payment” has the meaning assigned to such term in Section 6.08(b).

               

              “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in Holdings, the
                Borrower or any Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
                termination of any Equity Interests in Holdings, the Borrower or any Restricted Subsidiary or any option, warrant or other right to acquire any such Equity Interests.

               

              “Restricted Subsidiary” means any Subsidiary other than an Unrestricted Subsidiary

               

              “Retained Declined Proceeds” has the meaning assigned to such term in Section 2.11(f).

               

              “Revaluation Date” means:

               

              (a)         with respect to any Revolving Loan, (i) each date of a Credit Extension of a Eurocurrency
                  Rate Loan denominated in Euro, and (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in Euro; and

               

              (b)        with respect to any Letter of Credit, each of the following: (i) each date of issuance,
                  renewal or extension of a Letter of Credit denominated in Euro, Sterling, Australian Dollars or New Zealand Dollars, (ii) each date of an amendment of any such Letter of Credit denominated in Euro, Sterling, Australian Dollars or New
                  Zealand Dollars having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by the L/C Issuer under any Letter of Credit denominated in Euro, Sterling, Australian
                  Dollars and New Zealand Dollars, and (iv) such additional dates as the Administrative Agent or the L/C Issuer shall determine or the Required Lenders shall require, but (in each case) no more frequently than once in any six-month period.

               

              
                76

                
                  

              

              “Revolving Commitment” means an Initial Revolving Commitment, an Incremental Revolving Commitment or an Other Revolving Commitment, and “Revolving Commitments” means
                all of them, collectively.

               

              “Revolving Commitment Increase” has the meaning assigned to such term in Section 2.20(a).

               

              “Revolving Commitment Period” means the period from the Closing Date to but excluding the Revolving Commitment Termination Date.

               

              “Revolving Commitment Termination Date” means, with respect to any Class of Revolving Commitments, the earliest to occur of (a) (i) in the case of the Revolving
                Commitments in respect of the Initial Revolving Commitments, the fifth anniversary of the Closing Date, (ii) in the case of any Other Revolving Commitments, the date specified in the Refinancing Amendment or a Loan Modification Agreement,
                (b) the date the Revolving Commitments of such Class are permanently reduced to zero pursuant to Section 2.08 and (c) the date of the termination of the Revolving Commitments pursuant to Section 7.01.

               

              “Revolving Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of the Revolving Commitments, that Lender’s
                Revolving Commitment and (ii) after the termination of the Revolving Commitments, the sum of (a) the aggregate outstanding principal amount of the Revolving Loans of that Lender, (b) in the case of any L/C Issuer, the aggregate L/C
                Obligations in respect of all Letters of Credit issued by that L/C Issuer (net of any participations by Lenders in such Letters of Credit) and (c) the aggregate amount of all participations by that Lender in any outstanding Letters of
                Credit or any Unreimbursed Amount.

               

              “Revolving Facility” means the Initial Revolving Facility and the other revolving facilities represented by the Revolving Loans.

               

              “Revolving Maturity Date” means (a) in the case of the Revolving Loans, the fifth anniversary of the Closing Date and (b) in the case of any Incremental Revolving
                Facility or any Other Revolving Loan, the date set forth in the applicable documentation in respect thereof.

               

              “Revolving Lender” means, at any time, a Lender that has a Revolving Commitment or a Revolving Loan at such time.

               

              “Revolving Loans” means the Initial Revolving Loans, the Incremental Revolving Loans or any Other Revolving Loans, as applicable.

               

               “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, and any successor to its rating agency business.

               

              “SABB Credit Facility” means that certain Facilities’ Letter and Agreement, dated as of September 10, 2019 between Tronox Saudi Industries Company and the Saudi
                British Bank providing overdraft and short term revolving loans in an amount not to exceed $20,000,000.

               

              
                77

                
                  

              

              “Sale Leaseback” means any transaction or series of related transactions pursuant to which the Borrower or any Restricted Subsidiary (a) sells, transfers or
                otherwise disposes of any property, real or personal, whether now owned or hereafter acquired, and (b) as part of such transaction, thereafter rents or leases such property or other property that it intends to use for substantially the same
                purpose or purposes as the property being sold, transferred or disposed of.

               

              “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, or the U.S. Department of State, the European Union, any Member State of the European Union, or the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any
                Person owned or controlled by any such Person.

               

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

               

              “Sanctions” means economic sanctions administered or enforced by the United States Government (including without limitation, sanctions enforced by OFAC and the U.S.
                Department of State), the European Union, the United Kingdom (including without limitation, sanctions enforced by Her Majesty’s Treasury) or any similar laws of those jurisdictions where Holdings or any of its Subsidiaries does business.

               

              “SEC” means the Securities and Exchange Commission or any Governmental Authority succeeding to any of its principal functions.

               

              “Secured Cash Management Obligations” means the due and punctual payment and performance of all obligations of Holdings and the Restricted Subsidiaries (other than
                Receivables Subsidiaries) in respect of any overdraft and related liabilities arising from treasury, depository, cash pooling arrangements and cash management services, corporate credit and purchasing cards and related programs or any
                automated clearing house transfers of funds (collectively, “Cash Management Services”) provided to Holdings or any Subsidiary (whether absolute or contingent and howsoever and whenever created, arising, evidenced or acquired
                (including all renewals, extensions and modifications thereof and substitutions therefor)) that are (a) owed to the Administrative Agent or any of its Affiliates, (b) owed on the Closing Date to a Person that is a Lender or an Affiliate of
                a Lender as of the Closing Date, (c) owed to a Person that is an Agent, a Lender or an Affiliate of an Agent or Lender at the time such obligations are incurred or (d) owed to any Person from time to time approved by the Administrative
                Agent (such approval not to be unreasonably withheld, conditioned or delayed).

               

              “Secured Net Leverage Ratio” means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such
                date.

               

              “Secured Obligations” means (a) the Loan Document Obligations, (b) the Secured Cash Management Obligations and (c) the Secured Swap Obligations (excluding, with
                respect to any Guarantor, Excluded Swap Obligations of such Guarantor).

               

              “Secured Parties” means (a) each Lender and each L/C Issuer, (b) the Administrative Agent and Collateral Agent, (c) each other Agent, (d) each Person to whom any
                Secured Cash Management Obligations are owed, (e) each counterparty to any Swap Agreement the obligations under which constitute Secured Swap Obligations, (f) the beneficiaries of each indemnification obligation undertaken by any Loan Party
                under any Loan Document and (g) the successors and permitted assigns of each of the foregoing.

               

              
                78

                
                  

              

              “Secured Swap Obligations” means the due and punctual payment and performance of all obligations of Holdings, the Borrower and the Restricted Subsidiaries (other
                than Receivables Subsidiaries) under each Swap Agreement that (a) is with a counterparty that is the Administrative Agent or any of its Affiliates, (b) is in effect on the Closing Date with a counterparty that is a Lender, an Agent or an
                Affiliate of a Lender or an Agent as of the Closing Date, (c) is entered into after the Closing Date with any counterparty that is a Lender, an Agent or an Affiliate of a Lender or an Agent at the time such Swap Agreement is entered into or
                (d) with any Person from time to time approved by the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed).

               

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

               

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

               

              “Senior Representative” means, with respect to any series of Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt or other
                Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each
                of their successors in such capacities.

               

              “Senior Secured 2025 Notes”  means the notes issued pursuant to that certain Indenture dated May 1, 2020 providing for the issuance of 6.500% Senior Secured Notes
                due 2025 in the aggregate original principal amount of $500,000,000.

               

              “Senior Unsecured 2025 Notes” means the notes issued pursuant to that certain Indenture dated September 22, 2017 providing for the issuance of 5.750% Senior
                Unsecured Notes due 2025 in the aggregate original principal amount of $450,000,000.

               

              “Senior Unsecured 2026 Notes” means the notes issued pursuant to that certain Indenture dated April 5, 2018 providing for the issuance of 6.500% Senior Unsecured
                Notes due 2026 in the aggregate original principal amount of $615,000,000.

               

              “Senior Unsecured 2029 Notes” means the notes issued pursuant to an Indentured dated on or about March 15, 2021 providing for the issuance of 4.625% Senior Unsecured
                Notes due 2029 in the aggregate principal amount of $1,075,000,000.

               

              “Significant Subsidiary” means any Restricted Subsidiary that, or any group of Restricted Subsidiaries that, taken together, as of the last day of the fiscal quarter
                of the Borrower most recently ended for which financial statements are available, had revenues or total assets (determined on a consolidated basis for such Restricted Subsidiary and its Restricted Subsidiaries or such group of Restricted
                Subsidiaries and their respective Restricted Subsidiaries, as applicable) for such quarter in excess of 10.0% of the consolidated revenues or total assets, as applicable, of Holdings and the Restricted Subsidiaries for such quarter.

               

              
                79

                
                  

              

              “Similar Business” means (1) any business conducted by Holdings or any Restricted Subsidiary on the Closing Date or (2) any business or other activities that are
                reasonably similar, ancillary, incidental, complementary or related to (including non-core incidental businesses acquired in connection with any Permitted Investment), or a reasonable extension, development or expansion of, the businesses
                that Holdings and its Restricted Subsidiaries conduct on the Closing Date.

               

              “SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR
                Administrator on the SOFR Administrator’s Website at approximately 8:00 a.m. (New York City time) on the immediately succeeding Business Day.

               

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

               

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

               

              “Sold Entity or Business” has the meaning assigned to such term in the definition of “Consolidated EBITDA.”

               

              “Solvent” and “Solvency” means with respect to any Person on any date of determination, that on such date (i) the Fair Value and the Present Fair Saleable
                Value of the assets of such Person exceeds such Person’s Stated Liabilities and Identified Contingent Liability; (ii) such person does not have Unreasonably Small Capital; and (iii) such Person can pay its Stated Liabilities and Identified
                Contingent Liability as they mature.  For purposes of the foregoing, (a) “Fair Value” shall mean the amount at which the assets (both tangible and intangible), in their entirety, of a Person would change hands between a willing buyer and a
                willing seller, within a commercially reasonable period of time, each having reasonable knowledge of the relevant facts, with neither being under any compulsion to act, (b) “Present Fair Salable Value” means the amount that could be
                obtained by an independent willing seller from an independent willing buyer if the assets (both tangible and intangible) of the Borrower and its Subsidiaries taken as a whole are sold on a going concern basis with reasonable promptness in
                an arm’s-length transaction under present conditions for the sale of comparable business enterprises insofar as such conditions can be reasonably evaluated (provided that for purposes of determining Solvency on the Closing Date, this
                clause (b) shall be calculated after giving effect to the consummation of the Transactions (including the execution and delivery of this Agreement, the making of the Loans and the use of proceeds of such Loans on the Closing Date),
                (c) “Stated Liabilities” means the recorded liabilities (including contingent liabilities that would be recorded in accordance with GAAP) of such Person, (d) “Identified Contingent Liabilities” shall mean the maximum estimated amount of
                liabilities reasonably likely to result from pending litigation, asserted claims and assessments, guaranties, uninsured risks and other contingent liabilities of such person; provided that for purposes of determining Solvency on the
                Closing Date, this clause (d) shall be calculated after giving effect to the consummation of the Transactions (including the execution and delivery of this Agreement, the making of the Loans and the use of proceeds of such Loans on
                the Closing Date (including all fees and expenses related thereto but exclusive of such contingent liabilities to the extent reflected in Stated Liabilities pursuant to the proviso in clause (c) above)) as identified and explained in terms
                of their nature and estimated magnitude and (e) “Can pay their Stated Liabilities and Contingent Liabilities as they mature” means such Person will have sufficient assets and cash flow to pay their respective Stated Liabilities and
                Identified Contingent Liabilities as those liabilities mature or (in the case of contingent liabilities) otherwise become payable; provided that for purposes of determining Solvency on the Closing Date, this clause (e) shall
                be calculated after giving effect to the consummation of the Transactions (including the execution and delivery of this Agreement, the making of the Loans and the use of proceeds of such Loans on the Closing Date) and (f) “Do not have
                Unreasonably Small Capital” means such Person will have sufficient capital to ensure that it is a going concern.

               

              
                80

                
                  

              

              “South African Credit Agreement” means that certain Term Loan and Revolving Credit Facilities Agreement, dated March 25 2019, among Tronox Mineral Sands Proprietary
                Limited and Tronox KZN Sands Proprietary Limited, as borrowers with joint and several liability, the lenders party thereto from time to time, The Standard Bank of South Africa Limited, as Coordinating Bank, and Firstrand Bank Limited, as
                Facility Agent.

               

              “Special Purpose Entity” means a direct or indirect subsidiary of any Loan Party, whose organizational documents contain restrictions on its purpose and activities
                intended to preserve its separateness from the Loan Parties and their other subsidiaries.

               

              “Specified Event of Default” means an Event of Default occurring under Sections 7.01(a), 7.01(g), or 7.01(h).

               

              “Specified Transaction” means, with respect to any period, any Investment, Disposition, incurrence, modification or repayment of Indebtedness, Restricted Payment,
                subsidiary designation, operating improvements, restructurings or other event that by the terms of the Loan Documents requires “Pro Forma Compliance” with a test or covenant hereunder or requires such test or covenant to be calculated on a
                “Pro Forma Basis” or after giving “Pro Forma Effect” to such event.

               

              “SPV” has the meaning assigned to such term in Section 9.04(f).

               

              “Standard Securitization Undertakings” means all representations, warranties, covenants, pledges, transfers, purchases, dispositions, guaranties and indemnities
                (including repurchase obligations in the event of a breach of representation and warranty) and other undertakings made or provided, and servicing obligations undertaken, by any Loan Party or Subsidiary thereof that the Borrower has
                determined in good faith to be customary in connection with a Permitted Receivables Financing.

               

              
                81

                
                  

              

              “Starter Basket” means the greater of (x) $700,000,000 and (y) 100% of Consolidated EBITDA for the most recently completed Test Period (calculated on a Pro Forma
                Basis) minus any amounts previously utilized pursuant to Section 2.20(d)(iii)(A) hereof and the amount of Incremental Equivalent Debt incurred pursuant to Section 6.01(xxiii) in
                reliance on the Starter Basket hereof.

               

              “Statutory Reserve Rate” means, with respect to any currency, 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, liquid asset or similar percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by any Governmental Authority
                of the United States or of the jurisdiction of such currency or any jurisdiction in which Loans in such currency are made to which banks in such jurisdiction are subject for any category of deposits or liabilities customarily used to fund
                loans in such currency or by reference to which interest rates applicable to Loans in such currency are determined.  Such reserve, liquid asset or similar percentages shall include those imposed pursuant to Regulation D of the Board of
                Governors, and if any Lender is required to comply therewith, the requirements of The Bank of England and/or the Prudential Regulation Authority (or any authority that replaces any of the functions thereof) or the requirements of the
                European Central Bank.  Eurocurrency Loans shall be deemed to be subject to such reserve, liquid asset or similar requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any
                Lender under Regulation D or any other applicable law, rule or regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the Closing Date of any change in any reserve percentage.

               

              “Sterling” and “£” mean the lawful currency of the United Kingdom.

               

              “subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other
                entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP, as well as any other corporation, limited
                liability company, partnership, association or other entity (a) of which Equity Interests representing more than 50.0% of the equity or more than 50.0% of the ordinary voting power or, in the case of a partnership, more than 50.0% 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 Holdings.

               

              “Subsidiary Loan Party” means each Guarantor other than Holdings.

               

              “Successor Borrower” has the meaning assigned to such term in Section 6.03(f).

               

              “Successor Holdings” has the meaning assigned to such term in Section 6.03(e).

               

              “Swap” means any agreement, contract, or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

               

              
                82

                
                  

              

              “Swap Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity
                options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward
                foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any
                combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the
                related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
                Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

               

              “Swap Obligation” means, with respect to any Person, any obligation to pay or perform under any Swap.

               

              “TARGET 2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform and which was
                launched on November 19, 2007.

               

              “TARGET Day” means any date on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any reasonably determined by the
                Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro.

               

              “Tax Restructuring” means any reorganizations and other activities related to tax planning and tax reorganization (as determined by Holdings in good faith) entered
                into after the date hereof so long as such Tax Restructuring does not impair the Guarantee or the Lien of the Collateral Agent in any material respect and is otherwise not adverse to the Lenders in any material respect and after giving
                effect to such Tax Restructuring, Holdings and its Restricted Subsidiaries otherwise comply with Section 5.14.

               

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

               

              “Term Facility” means the Refinancing Term Facility and the other term loan facilities represented by the Term Loans.

               

              “Term Lenders” means at any time, a Lender that has a Term Loan Commitment or holds a Term Loan, in each case, at such time.

               

              “Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the amount of the outstanding principal amount of the Term Loans of such
                Lender; provided, at any time prior to the making of the Term Loans, the Term Loan Exposure of any Lender shall be equal to such Lender’s Term Loan Commitment.

               

              
                83

                
                  

              

              “Term Loans” means the Refinancing Term Loans, the Incremental Term Loans or any Other Term Loans, as applicable.

               

              “Term Maturity Date” means (a) in the case of the Refinancing Term Loans, the seventh anniversary of the Closing Date and (b) in the case of any Incremental Term
                Loan or any Other Term Loan, the date set forth in the applicable documentation in respect thereof.

               

              “Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or
                recommended by the Relevant Governmental Body.

               

              “Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.

               

              “Term SOFR Transition Event” means the determination by the Administrative Agent, in consultation with the Borrower, that (a) Term SOFR has been recommended for use
                by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event has previously occurred resulting in a Benchmark Replacement in accordance
                with Section 2.14 that is not Term SOFR.

               

              “Termination Date” means the date on which (a) all Commitments shall have been terminated, and (b) all Loan Document Obligations (in each case, other than in respect
                of contingent indemnification and expense reimbursement claims not then due) shall have been paid in full.

               

              “Test Period” means, at any date of determination, (a) for purposes of (i) the definitions of “Applicable Rate” and “ECF Percentage” and (ii) the Financial Covenant
                (other than for the purpose of determining pro forma compliance with the Financial Covenant in connection with any basket) the most recently completed four consecutive fiscal quarters of Holdings
                ending on or prior to such date for which financial statements have been (or were required to have been) delivered pursuant to Section 5.01(a) or 5.01(b); and (b) for all other purposes in this Agreement, the most recent
                period of four consecutive fiscal quarters of Holdings ended on or prior to such time (taken as one accounting period) in respect of which financial statements for each such quarter or fiscal year in such period are internally available (as
                determined in good faith by the Borrower); provided that in each case prior to the first date financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b), the Test Period in effect shall be the
                period of four consecutive fiscal quarters of Holdings ended December 31, 2020.

               

              “TFA” means a tax funding agreement between the members of an Australian Tax Consolidated Group which includes (a) reasonably appropriate arrangements for the
                funding of tax payments by the head company (as defined in the Australian Tax Act) having regard to the position of each member of the Australian Tax Consolidated Group and (b) reasonably appropriate arrangements for the compensation of
                each member of the Australian Tax Consolidated Group to compensate such member adequately for loss of tax attributes (including tax losses and tax offsets) as a result of being a member of the Australian Tax Consolidated Group, any such
                agreement to be in form and substance reasonably satisfactory to the Administrative Agent.

               

              
                84

                
                  

              

              “Title Policy” has the meaning assigned to such term in the definition of “Collateral and Guarantee Requirement”.

               

              “Total Net Leverage Ratio” means, on any date, the ratio of (a) Consolidated Total Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such
                date.

               

              “Total Utilization of Revolving Commitments” means, as at any date of determination, the sum of (i) the Dollar Equivalent amount of the aggregate principal amount of
                all outstanding Revolving Loans (other than Revolving Loans made for the purpose of reimbursing any L/C Issuer for any amount drawn under any Letter of Credit, but not yet so applied) and (ii) the Dollar Equivalent amount of the aggregate
                L/C Obligations.

               

              “Transactions” means, collectively, (a) Closing Date Refinancing, (b) the consummation of any other transactions in connection with the foregoing and (c) the payment
                of the fees and expenses incurred in connection with any of the foregoing (including the Transaction Costs).

               

              “Transaction Costs” means any fees, expenses and other transaction costs incurred or paid by Holdings, the Borrower or any of its Subsidiaries in connection with the
                Transactions, this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby.

               

               “Transformative Acquisition” means any merger, acquisition or material investment, in any such case by Holdings and its Restricted Subsidiaries that either (a) is
                not permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition or (b) if permitted by the terms of the Loan Documents immediately prior to the consummation of such acquisition, would not provide
                Holdings and its Restricted Subsidiaries with adequate flexibility under the Loan Documents for the continuation and/or expansion of their combined operations following such consummation, as reasonably determined by Holdings acting in good
                faith.

               

              “Tronox Coöperatief” means Tronox Holdings Coöperatief U.A.,  a cooperative with excluded liability under Dutch law (coöperatie met uitgesloten aansprakelijkheid),
                having its official seat (statutaire zetel) in Amsterdam, the Netherlands, having its principal place of business at Lot 22, Mason Road, Kwinana Beach, Western Australia 6167, Australia, registered with the Dutch trade register under number
                55056113.

               

              “Tronox Global Holdings” means Tronox Global Holdings PTY LTD, a proprietary company limited by shares incorporated under the
                laws of Australia, having its business address at Lot 22, Mason Road, Kwinana Beach, Western Australia 6167, Australia, registered under the number ACN  154 691 826.

               

              “Tronox Holdings Europe C.V.” means Tronox Holdings Europe C.V., a limited partnership (commanditaire vennootschap) formed
                and existing under Dutch law, having its business address at Lot 22, Mason Road, Kwinana Beach, Western Australia 6167, Australia, registered with the Dutch trade register under number 24424862.

               

              “Tronox International” means Tronox International B.V., a private company with limited liability incorporated under Dutch law (besloten

                  vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Amsterdam, the Netherlands, having its registered address as Professor Gerbrandyweg 2, 3197 KK,
                Botlek Rotterdam, the Netherlands, registered with the Dutch trade register under number 67086497.

               

              
                85

                
                  

              

              “Tronox Investments Netherlands” means Tronox Investments Netherlands B.V., a private company with limited liability incorporated under Dutch law (besloten vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Amsterdam, the Netherlands, having its registered address at
                Professor Gerbrandyweg 2, 3197 KK, Botlek Rotterdam, the Netherlands, registered with the Dutch trade register under number 56102259.

               

              “Tronox Limited” means Tronox Limited, a public limited company incorporated under the laws of Australia, having its business address at Lot 22, Mason Road, Kwinana
                Beach, Western Australia 6167, Australia, registered with the Australian Securities and Investments Commission under the number ACN 153 348 11.

               

              “Tronox Pigments (Holland)” means Tronox Pigments (Holland) B.V., a private company with limited liability incorporated under Dutch law (besloten vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Rozenburg, Zuid-Holland, the Netherlands, having its registered address at
                Professor Gerbrandyweg 2, 3197 KK, Botlek Rotterdam, the Netherlands, registered with the Dutch trade register under number 24179173.

               

              “Tronox Pigments (Netherlands)” means Tronox Pigments (Netherlands) B.V., a private company with limited liability incorporated under Dutch law (besloten
                vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Amsterdam, the Netherlands, having its registered address at Professor Gerbrandyweg 2, 3197 KK, Botlek Rotterdam, the Netherlands, registered with
                the Dutch trade register under number 34132341.

               

              “TSA” means an agreement between the members of an Australian Tax Consolidated Group which takes effect as a tax sharing agreement under section 721-25 of the
                Australian Tax Act and complies with the Australian Tax Act and any applicable law, official directive, request, guideline or policy (whether or not having the force of law) issued in connection with the Australian Tax Act, any such
                agreement to be in form and substance reasonably satisfactory to the Administrative Agent.

               

              “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 LIBO Rate, Adjusted LIBO Rate or the Alternate Base Rate.

               

              “UCC” or “Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however,
                that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Collateral Agent’s security interest in any item or portion of the Collateral is governed by the Uniform Commercial Code as in
                effect in a U.S. jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions hereof relating to such perfection
                or priority and for purposes of definitions relating to such provisions.

               

              
                86

                
                  

              

              “UK Debenture” means that certain English law debenture dated as of the Closing Date among the UK Loan Parties party thereto from time to time as chargors, Tronox
                Limited and Tronox UK Holdings Limited as partners, and the Collateral Agent.

               

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

               

              “UK Loan Party” means any Loan Party incorporated in or established under the laws of England and Wales.

               

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

               

              “UK Security Documents” means, collectively, means the UK Debenture and the Existing UK Debenture and any other document entered into in accordance with this
                Agreement that creates a security interest in the assets or properties of any or all of the UK Loan Parties.

               

              “U.S. Loan Party” means any Loan Party organized in or under the laws of the United States, any State thereof, or the District of Columbia.

               

              “U.S. Pledge Agreement” means that certain Amended and Restated Pledge Agreement, dated as of the Closing Date among Tronox UK Holdings Limited, a company formed
                under the laws of England and Wales, as a pledgor, Tronox Global Holdings Pty Limited, a company formed under the laws of the Commonwealth of Australia, as a pledgor, and Tronox Worldwide Pty Limited, a company formed under the laws of the
                Commonwealth of Australia, as a pledgor, and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance
                with the Agency Successor Agreement).

               

              “U.S. Security Agreement” means that certain Amended and Restated Security Agreement, dated as of the  Closing Date among the U.S. Loan Parties party thereto from
                time to time as grantors and the Collateral Agent (as successor in interest to the Existing Administrative Agent and Collateral Agent’s right, title and interest in its capacity as collateral agent thereunder in accordance with the Agency
                Successor Agreement).

               

              “U.S. Security Documents” means the Amended and Restated U.S. Pledge Agreement, the U.S. Security Agreement, any Intellectual Property Security Agreement, and any
                other document entered into in accordance with the U.S. Security Agreement that creates a security interest in the assets or properties of the U.S. Loan Parties.

               

              “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

               

              
                87

                
                  

              

              “Unaudited Financials” means the unaudited consolidated balance sheet of Holdings and its consolidated subsidiaries as at the end of, and related unaudited
                consolidated statements of income and cash flows of Holdings and its Subsidiaries for the period ended December 31, 2020.

               

              “Unreimbursed Amount” as defined in Section 2.04(d)(i).

               

              “Unrestricted Subsidiary” means (i) any Subsidiary (other than a Holdings or the Borrower) designated by the Borrower as an Unrestricted Subsidiary pursuant to Section

                  5.18 subsequent to the Closing Date and (ii) Hawkins Point LLC, a Delaware limited liability company.

               

              “USA Patriot Act” means the USA PATRIOT Improvement and Reauthorization Act, Pub. L. 109-177 (signed into law March 9, 2009),
                as amended from time to time.

               

              “Vehicles” means all railcars, cars, trucks, trailers, construction and earth moving equipment and other vehicles covered by a certificate of title law of any state
                and all tires and other appurtenances to any of the foregoing.

               

              “Voting Stock” means, with respect to any Person, such Person’s Equity Interests having the right to vote for the election of directors of such Person under ordinary
                circumstances.

               

              “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the sum of the products
                obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years
                (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Indebtedness.

               

              “wholly-owned subsidiary” means, with respect to any Person at any date, a subsidiary of such Person of which securities or other ownership interests representing
                100% of the Equity Interests (other than (a) directors’ qualifying shares and (b) nominal shares issued to foreign nationals to the extent required by applicable Requirements of Law) are, as of such date, owned, controlled or held by such
                Person or one or more wholly-owned subsidiaries of such Person or by such Person and one or more wholly-owned subsidiaries of such Person.

               

              “Whitewash Australian Entity” means any Australian Subsidiary which is required to obtain approval to the giving of financial assistance in accordance with section
                260B of the Corporations Act in connection with any acquisition.

               

              “Whitewash Completion Date” means in respect of each Australian Subsidiary from time to time that is a Whitewash Australian Entity, (i) while the ultimate Australian
                holding company of that Whitewash Australian Entity is a public company, the date which is no later than 60 days (or such longer period as consented to by the Collateral Agent in its sole discretion) after the next scheduled annual general
                meeting of that ultimate Australian holding company after the date such Australian Subsidiary is acquired by, or otherwise becomes a Subsidiary domiciled in Australia of, Holdings or one of its Subsidiaries or (ii) otherwise, the date which
                is no later than 90 days (or such longer period as consented to by the Collateral Agent in its sole discretion) after such Australian Subsidiary is acquired by, or otherwise becomes a Subsidiary domiciled in Australia of, Holdings or one of
                its Subsidiaries.

               

              
                88

                
                  

              

              “Whitewash Documents” means the documents, in a form approved by the Administrative Agent (acting reasonably), required under section 260B of the Corporations Act
                for approving the giving of financial assistance being given by any Australian Subsidiary that is a Whitewash Australian Entity under all relevant Loan Documents to which it is proposed to be a party, including, in respect of each Whitewash
                Australian Entity and the ultimate Australian holding company, the circular or sole member (as applicable) resolution approving the giving of the financial assistance by the relevant company, an explanatory statement setting out all the
                information that is material to the decision on how to vote on such resolution, a notice proposing the passing of a resolution to approve the giving of the financial assistance and as required, ASIC forms 2602 (financial assistance
                details), 2601 (intention to give financial assistance) (other than for the ultimate Australian holding company) and 2205 (notification of resolutions regarding shares) (including, in each case, with all necessary attachments, if any).

               

              “Whitewash Resolution Date” means, in respect of an Australian Subsidiary that is a Whitewash Australian Entity, the date which is at least 14 days prior to the
                relevant Whitewash Completion Date for such Australian Subsidiary.

               

              “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, the Administrative Agent and, in the case of any U.S. federal withholding tax, any other withholding agent, if applicable.

               

              “Write-Down and Conversion Powers” means,

               

              (a)          with respect to any EEA Resolution Authority, the write-down and conversion powers of
                  such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule; and

               

              (b)          with respect to the United Kingdom, any powers of the applicable Resolution Authority
                  under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into
                  shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or
                  any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

               

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

               

              
                89

                
                  

              

              SECTION 1.03    Terms Generally.  The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context
                may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.”  The word “will” shall be
                construed to have the same meaning and effect as the word “shall.”  Unless the context requires otherwise, (a) any definition of or reference to any agreement (including this Agreement and the other Loan Documents), instrument or other
                document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, amended and restated, supplemented or otherwise modified (subject to any restrictions on such amendments,
                supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on assignment 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, (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, (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 (f) references to
                any matter being “permitted” under this Agreement or in any Loan Document shall include references to such matters not being prohibited or otherwise being approved under this Agreement or such Loan Document, and (g) unless otherwise
                specified herein, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

               

              SECTION 1.04     Accounting Terms; GAAP.

               

              (a)         All accounting terms not specifically or completely defined herein shall be construed in
                  conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, applied in a manner consistent with that
                  used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein.

               

              (b)         Where reference is made to Holdings and the Restricted Subsidiaries on a “consolidated
                  basis” or similar language, such consolidation shall not include any Subsidiaries of Holdings other than the Restricted Subsidiaries unless otherwise specified therein.

               

              
                90

                
                  

              

              (c)         In the event that Holdings elects to prepare its financial statements in accordance with
                  IFRS and such election results in a change in the method of calculation of financial covenants, standards or terms (collectively, the “Accounting Changes”) in this Agreement, Holdings and the Administrative Agent agree to enter
                  into good faith negotiations in order to amend such provisions of this Agreement (including the levels applicable herein to any computation of the Total Net Leverage Ratio, the First Lien Net Leverage Ratio, Cash Interest Coverage Ratio
                  and the Secured Net Leverage Ratio) so as to reflect equitably the Accounting Changes with the desired result that the criteria for evaluating Holdings’ financial condition shall be substantially the same after such change as if such
                  change had not been made.  Until such time as such an amendment shall have been executed and delivered by Holdings, the Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this Agreement shall
                  continue to be calculated or construed in accordance with GAAP (as determined in good faith by a Responsible Officer of Holdings) (it being agreed that the reconciliation between GAAP and IFRS used in such determination shall be made
                  available to Lenders) as if such change had not occurred.

               

              (d)         Unless the Borrower has requested an amendment pursuant to the process set out in the
                  definition of “GAAP” with respect to the treatment of operating leases and Capitalized Lease Obligations under GAAP (or IFRS) and until such amendment has become effective, all obligations of any Person that are or would have been treated
                  as operating leases for purposes of GAAP prior to the issuance by the Financial Accounting Standards Board on February 25, 2016 of an Accounting Standards Update (the “ASU”) shall continue to be accounted for as operating leases
                  for purposes of all financial definitions and calculations for purpose of this Agreement (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in
                  accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as Capitalized Lease Obligations in the financial statements to be delivered pursuant to Section 5.01.

               

              SECTION 1.05     Currency Translation; Rates.

               

              (a)          All references in the Loan Documents to Loans, Letters of Credit, Secured Obligations and
                  other amounts shall be denominated in Dollars, unless expressly provided otherwise.

               

              (b)          Credit Extensions; Total Utilization of Revolving Commitments. Notwithstanding
                  anything to the contrary herein, for purposes of determining the relative outstanding principal amounts of any Loans denominated in any currency other than Dollars, including in connection with (i) determining the Utilization of Revolving
                  Commitments pursuant to Section 2.01(b), (ii) determining whether the Required Lenders or Required Facility Lenders shall have consented to any amendment, waiver, modification or supplement hereunder or (ii) the application of any
                  mandatory prepayments of Loans hereunder, such determination shall be based on the Dollar-equivalent principal amounts of such Loans based on the Exchange Rate as of the applicable date of determination.

               

              (c)          Baskets. The Borrower shall determine in good faith the Dollar equivalent amount of
                  any utilization or other measurement denominated in a currency other than Dollars for purposes of compliance with any basket. For purposes of determining compliance with any basket under Article VI or VII with respect to any amount
                  expressed in a currency other than Dollars, no Default shall be deemed to have occurred solely as a result of changes in rates of currency exchange occurring after the time such basket utilization occurs or other basket measurement is
                  made (so long as such Basket utilization or other measurement, at the time incurred, made or acquired, was permitted hereunder). Except with respect to any ratio calculated under any basket, any subsequent change in rates of currency
                  exchange with respect to any prior utilization or other measurement of a basket previously made in reliance on such basket (as the same may have been reallocated in accordance with this Agreement) shall be disregarded for purposes of
                  determining any unutilized portion under such basket

               

              
                91

                
                  

              

              (d)          Financial Ratios and Tests. For purposes of determining the First Lien Net Leverage
                  Ratio, Secured Net Leverage Ratio and the Total Net Leverage Ratio, the amount of Indebtedness and cash and Cash Equivalents shall reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations
                  permitted hereunder for currency exchange risks with respect to the applicable currency in effect on the date of determination of the Dollar equivalent of such Indebtedness.

               

              (e)          Each provision of this Agreement shall be subject to such reasonable changes of
                  construction as the Administrative Agent may from time to time specify with Holdings’ consent (such consent not to be unreasonably withheld) to appropriately reflect a change in currency of any country and any relevant market conventions
                  or practices relating to such change in currency.

               

              (f)         The Administrative Agent does not warrant, nor accept responsibility, nor shall the
                  Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “LIBO Rate” or with respect to any comparable or successor rate thereto, except as
                  expressly provided herein.

               

              SECTION 1.06     Timing of Payment of Performance.  When payment of any obligation or the performance of any covenant, duty or obligation is
                stated to be due or required on a day which is not a Business Day, the date of such payment (other than as described in the definition of “Interest Period”) or performance shall extend to the immediately succeeding Business Day, and, in the
                case of any payment accruing interest, interest thereon shall be payable for the period of such extension.

               

              SECTION 1.07    Cashless Rollovers.  Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the
                extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with Incremental Loans, Credit Agreement Refinancing Indebtedness, Loans in connection with any extended Term Loans or
                loans incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing shall
                be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars, “in immediately available funds”, “in Cash” or any other similar requirement.

               

              SECTION 1.08     Certain Calculations and Tests.

               

              (a)        Notwithstanding anything in this Agreement or any Loan Document to the contrary, in
                  connection with any action being taken in connection with a Limited Condition Transaction, for purposes of:

               

              (i)         determining compliance with any provision in this Agreement or any Loan
                  Document (other than the Financial Covenants) that requires the calculation of any financial ratio or test (including, without limitation, any First Lien Net Leverage Ratio test, any Secured Net Leverage Ratio test, any Total Net Leverage
                  Ratio test, any Secured Net Leverage Ratio test and/or any Cash Interest Coverage Ratio test) (and for the avoidance of doubt, any financial ratio set forth in Section 2.20);

               

              
                92

                
                  

              

              (ii)        determining compliance with representations and warranties or the
                  requirement regarding the absence of a Default or Event of Default (or any type of Default or Event of Default);

               

              (iii)         testing any cap expressed as a percentage of Consolidated EBITDA and any other availability of a
                “basket” or exception set forth in Article VI, in each case, the date of determination of whether any such action is permitted hereunder, at the election of the Holdings (Holdings’ election to exercise such option in connection with any
                Limited Condition Transaction, an “LCA Election”), will be deemed to be the date the definitive agreements for such Limited Condition Transaction are entered into (the “LCA Test Date”), and if, after giving Pro Forma Effect to
                the Limited Condition Transaction and the other transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if they had occurred at the beginning of the most recently
                completed Test Period ending prior to the LCA Test Date, Holdings could have taken such action on the relevant LCA Test Date in compliance with such ratios, representation, warranty, absence of Default or Event of Default or “basket”, such
                ratio, representation, warranty, absence of Default or Event of Default shall be deemed to have been complied with; provided, that (a) if financial statements for one or more subsequent fiscal quarters shall have become available,
                the Borrower may elect, in its sole discretion, to re-determine all such ratios, tests or baskets on the basis of such financial statements, in which case, such date of redetermination shall thereafter be deemed to be the applicable LCA
                Test Date for purposes of such ratios, tests or baskets.  For the avoidance of doubt, if Holdings has made an LCA Election and (x) any of the ratios or “baskets” for which compliance was determined or tested as of the LCA Test Date are
                exceeded as a result of fluctuations in any such ratio or “basket” (including due to fluctuations of the target of any Limited Condition Transaction) at or prior to the consummation of the relevant Limited Condition Transaction, such
                “baskets” or ratios and other provisions will not be deemed to have been exceeded as a result of such fluctuations solely for purposes of determining whether the Limited Condition Transaction is permitted hereunder and (y) in connection
                with any subsequent calculation of any ratio or “basket” availability on or following the relevant LCA Test Date and prior to the earlier of (i) the date on which such Limited Condition Transaction is consummated or (ii) the date that the
                definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, (A) any such ratio or “basket” availability shall be calculated on a Pro Forma Basis assuming
                such Limited Condition Transaction and other transactions in connection therewith (including any incurrence of debt and the use of proceeds thereof (but without netting the cash proceeds thereof)) had been consummated and (B) solely in
                connection with the calculation of any ratio or “basket” availability with respect to the making of Restricted Payments, any such ratio or “basket” availability shall be calculated on a Pro Forma Basis assuming such Limited Condition
                Transaction and other transactions in connection therewith (including any incurrence of debt and the use of proceeds thereof (but without netting the cash proceeds thereof)) had not been consummated.  For the further avoidance of doubt, in
                the absence of an LCA Election, unless specifically stated in this Agreement to be otherwise, all determinations of (x) compliance with any financial ratio or test (including, without limitation, any First Lien Net Leverage Ratio test, any
                Total Net Leverage Ratio test, any Secured Net Leverage Ratio test and/or any Cash Interest Coverage Ratio test) and/or any cap expressed as a percentage of Consolidated EBITDA, (y) any representation and warranties, or any requirement
                regarding the absence of a Default or Event of Default (or any type of Default or Event of Default) or (z) any availability test under any “baskets” shall be made as of the applicable date of the consummation of the Limited Condition
                Acquisition.

               

              
                93

                
                  

              

              (b)         Notwithstanding anything to the contrary herein, with respect to any amounts incurred or
                  transactions entered into (or consummated) in reliance on a provision of this Agreement that does not require compliance with a financial ratio or test (including, without limitation, any First Lien Net Leverage Ratio test, any Total Net
                  Leverage Ratio test, any Secured Net Leverage Ratio test and/or any Cash Interest Coverage Ratio test) (any such amounts, the “Fixed Amounts”) substantially concurrently with any amounts incurred or transactions entered into (or
                  consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio or test (including, without limitation, any First Lien Net Leverage Ratio test, any Total Net Leverage Ratio test, any Secured Net
                  Leverage Ratio test and/or any Cash Interest Charge Coverage Ratio test) (any such amounts, the “Incurrence-Based Amounts”), it is understood and agreed that the Fixed Amounts (and any cash proceeds thereof and any concurrent
                  borrowing under a revolving facility (including a Borrowing consisting of Revolving Loans) shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based Amounts in connection with such
                  substantially concurrent incurrence.

               

              SECTION 1.09     Rounding.  Any financial ratios required to be maintained by Holdings pursuant to this Agreement (or required to be satisfied in
                order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is
                expressed herein and rounding the result up or down to the nearest number (with a rounding up for five).

               

              SECTION 1.10     Baskets.

               

              (a)          For purposes of the covenants described in Sections 6.01, 6.02, 6.04
                  and 6.08, if any Indebtedness, Lien, Investment or Restricted Payment (or a portion thereof) would be permitted pursuant to one or more provisions described therein, the Borrower may divide and classify such Indebtedness, Liens,
                  Investments or Restricted Payments (or a portion thereof) in any manner that complies with the covenants set forth in Sections 6.01, 6.02, 6.04 and 6.08, as applicable, and may later divide and reclassify
                  any such Indebtedness, Lien or Investment so long as the Indebtedness, Lien, Investment or Restricted Payment (as so divided and/or reclassified) would be permitted to be made in reliance on the applicable exception as of the date of such
                  reclassification.

               

              
                94

                
                  

              

              (b)          Unless otherwise specified herein, the baskets and other exceptions set forth in Article VI
                  of this Agreement (or in any defined term used in Article VI) shall be tested solely at the time of consummation of the relevant transaction or action utilizing any of such baskets or other exceptions and, for the avoidance of doubt, if
                  any of such baskets (including ratio based baskets) are exceeded as a result of fluctuations to Consolidated EBITDA for the most recently completed Test Period after the last time such baskets (including ratio based baskets) were
                  calculated for any purpose under Article VI, such baskets (including ratio based baskets) will not be deemed to have been exceeded as a result of such fluctuations. If any Indebtedness or Liens securing Indebtedness are incurred to
                  refinance Indebtedness or Liens securing Indebtedness, in each case, initially incurred in reliance on a basket measured by reference to a percentage of Consolidated EBITDA at the time of incurrence, and such refinancing would cause the
                  percentage of Consolidated EBITDA restriction to be exceeded if calculated based on the Consolidated EBITDA on the date of such refinancing, such percentage of Consolidated EBITDA restriction shall not be deemed to be exceeded so long as
                  the principal amount of such Indebtedness or Indebtedness secured by such Liens, as applicable, does not exceed the principal amount of such Indebtedness or Indebtedness secured by such Liens, as applicable, being refinanced, plus an
                  amount equal to premiums, defeasance costs and fees and expenses in connection therewith.

               

              (c)         For purposes of determining whether the incurrence of any Indebtedness or Lien or the making
                  of any Investment, disposition, Restricted Payment or prepayment, redemption, purchase, defeasance or other satisfaction of Junior Debt complies with any basket that is based upon the greater of a specified Dollar Equivalent amount and a
                  percentage of Consolidated EBITDA, Consolidated EBITDA shall be calculated on a Pro Forma Basis.

               

              SECTION 1.11    Dutch Terms.  In this Agreement, where it relates to or has an effect on a Dutch entity or its assets, or Dutch security, then,
                solely for purposes of Dutch law, a reference to:

               

              (a)          a necessary action to authorize where applicable, includes without limitation:

               

              (i)           any action required to comply with the Works Councils Act of The
                  Netherlands (Wet op de ondernemingsraden); and

               

              (ii)         obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden);

               

              (b)          gross negligence means grove schuld;

               

              (c)          negligence means schuld;

               

              (d)          a security interest includes any mortgage (hypotheek),

                  pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention
                  (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (beperkt recht),

                  created for the purpose of granting security (goederenrechtelijk zekerheidsrecht);

               

              (e)       a liquidation or dissolution (and any of those terms) includes a Dutch entity being declared
                  bankrupt (failliet verklaard) or dissolved (ontbonden);

               

              
                95

                
                  

              

              (f)          an insolvency includes:

               

              (i)           suspension of payments (surseance
                    verleend);

               

              (ii)          emergency regulations (noodregeling)
                  as provided for in the Act on financial supervision (Wet op het financieel toezicht);

               

              (iii)         bankruptcy (failliet verklaard);

               

              (iv)         any other insolvency proceedings listed in Annex A of Regulation (EU) No
                  2015/848 of the European Parliament and of the Council of the European Union of 20 May 2015 on insolvency proceedings (recast);

               

              (g)          a moratorium includes surseance van betaling and
                  a moratorium is declared or occurs includes surseance verleend;

               

              (h)          any step or procedure taken in connection with insolvency proceedings includes a Dutch
                  entity having filed a notice under Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990);

               

              (i)           a trustee or receiver includes a curator;

               

              (j)           an administrator includes a bewindvoerder;

               

              (k)          an attachment includes a beslag;

               

              (l)           a merger includes a juridische fusie;

               

              (m)         a demerger includes a juridische splitsing; and

               

              (n)          financial assistance means any action or contemplated action prohibited by Section 2:98(c)
                  of the Dutch Civil Code (Burgerlijk Wetboek).

               

              SECTION 1.12     French Terms.  In this Agreement, where it relates to a French Loan Party:

               

              (a)          “gross negligence” means “faute lourde”;

               

              (b)          a “guarantee” includes any type of “sûreté personnelle”;

               

              (c)        “indebtedness” includes any obligation (whether incurred as principal or as surety) for the
                  payment or repayment of money, whether present or future, actual or contingent;

               

              (d)          “merger” includes any “fusion” implemented in
                  accordance with articles L. 236-1 to L. 236-24 of the French Commercial Code;

               

              (e)          a “security interest” includes any type of security (sûreté

                    réelle) and transfer by way of security;

               

              (f)          “control” means “contrôle” within the meaning of
                  L. 233-3 I., 1° and 2° of the French Commercial Code;

               

              
                96

                
                  

              

              (g)       “Solvent” or “Solvency” means that the relevant French Loan Party is not in a state of “cessation des paiements” as defined in article L. 631-1 of the French Commercial Code;

               

              (h)         a “suspension of payments” a “moratorium of any indebtedness” a “winding-up,” “dissolution”,
                  “administration”, “reorganisation” (by way of voluntary arrangement, scheme of arrangement or otherwise) or “insolvency” or similar laws relating to or limiting creditors’ rights generally includes, without limitation, any reorganisation
                  in the context of a mandat ad hoc or of a procédure de conciliation, any “redressement judiciaire”, any “cession totale ou partielle de l’entreprise”, any “liquidation judiciaire”, any “sauvegarde,” any “sauvegarde financière accélérée” any “sauvegarde accélérée” or any “procédure collective” under Book VI (Livre Sixième) of the French Commercial Code; and

               

              (i)          a “composition,” “assignment” or “similar arrangement with any creditor” includes a procédure de conciliation or a mandat ad hoc under Book VI (Livre Sixième) of the French Commercial Code;

               

              (j)          a “liquidator”, “receiver”, “administrative receiver”, “administrator”, “compulsory
                  manager” or similar officer includes any “mandataire ad hoc”, “administrateur judiciaire”, “administrateur provisoire”,

                  “conciliateur” or “mandataire liquidateur” or similar officer.

               

              SECTION 1.13     Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be
                the stated amount of such Letter of Credit in effect at such time; provided that, with respect to any Letter of Credit that by its terms or the terms of any document related thereto provides for one or more automatic increases in the stated
                amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

               

              SECTION 1.14     Pro Forma Calculations.

               

              (a)          Notwithstanding anything to the contrary herein, financial ratios and tests, including the
                  Total Net Leverage Ratio, the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio, the Cash Interest Coverage Ratio and Consolidated EBITDA shall be calculated (including for purposes of Section 2.20) in the manner
                  prescribed by this Section 1.14; provided that notwithstanding anything to the contrary in clauses (b), (c), (d) or (e) of this Section 1.14, (A) when calculating the First Lien Net Leverage Ratio for purposes of
                  (i) the definition of “Applicable Rate”, (ii) the definition of “ECF Percentage” and (iii) Section 6.12 (other than for the purpose of determining Pro Forma Compliance with Section 6.12 in connection with any basket), the
                  events described in this Section 1.14 that occurred subsequent to the end of the applicable Test Period shall not be given pro forma effect; provided, however,
                  that voluntary prepayments made pursuant to Section 2.11(a) during any fiscal year (without duplication of any prepayments in such fiscal year that reduced the amount of Excess Cash Flow required to be repaid pursuant to Section

                    2.11(c) for any prior fiscal year) shall be given pro forma effect after such fiscal year‐end and prior to the time any mandatory prepayment pursuant to Section 2.11(c) is due for
                  purposes of calculating the First Lien Net Leverage Ratio for purposes of determining the ECF Percentage for such mandatory prepayment, if any and (B) when calculating any such ratio or test for purposes of the incurrence of any
                  Indebtedness, cash and Cash Equivalents resulting from the incurrence of any such Indebtedness shall be excluded from the pro forma calculation of any applicable ratio or test.

               

              
                97

                
                  

              

              (b)         For purposes of calculating any financial ratio or test or Consolidated EBITDA, Specified
                  Transactions (and, subject to clause (d) below, the incurrence or repayment of any Indebtedness in connection therewith) that have been made (a) during the applicable Test Period or (b) subsequent to such Test Period and prior to or
                  simultaneously with the event for which the calculation of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in Consolidated EBITDA and the
                  component financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable Test Period.  If since the beginning of any applicable Test Period any Person that subsequently became
                  a Restricted Subsidiary or was merged, amalgamated or consolidated with or into Holdings or any Restricted Subsidiary since the beginning of such Test Period shall have made any Specified Transaction that would have required adjustment
                  pursuant to this Section 1.14, then such financial ratio or test or Consolidated EBITDA shall be calculated to give pro forma effect thereto in accordance with this Section 1.14; provided that with respect to any
                  pro forma calculations to be made in connection with any acquisition or investment in respect of which financial statements for the relevant target are not available for the same Test Period for which financial statements of Holdings are
                  available, the Borrower shall determine such pro forma calculations on the basis of the available financial statements (even if for differing periods) or such other basis as determined on a commercially reasonable basis by the Borrower.

               

              (c)          Whenever pro forma effect is to be given to a Specified Transaction, the pro forma
                  calculations shall be made in good faith by a Financial Officer of the Borrower and may include, for the avoidance of doubt the amount of “run rate” cost savings, operating expense reductions and synergies related to any Specified
                  Transaction (including, for the avoidance of doubt, acquisitions occurring prior to the Closing Date) that are projected by Holdings in good faith to be realized as a result of actions that have been taken or initiated or are expected to
                  be taken or initiated on or prior to the date that is eight fiscal quarters after the end of the relevant Test Period (including restructuring and integration charges) (which cost savings shall be added to Consolidated EBITDA until fully
                  realized and calculated on a Pro Forma Basis as though such cost savings had been realized on the first day of the relevant period), net of the amount of actual benefits realized from such actions (it being understood that “run rate”
                  shall mean the full reasonably expected recurring benefit during the eight fiscal quarter period referred to above that is associated with the relevant action); provided that (A) such cost savings are factually supportable and
                  reasonably identifiable and (B) no amounts shall be added to the extent duplicative of any amounts that are otherwise added back in computing Consolidated EBITDA (or any other components thereof), whether through a pro forma adjustment or
                  otherwise, with respect to such period.

               

              (d)          In the event that the Company or any Restricted Subsidiary incurs (including by assumption
                  or guarantees) or repays (including by redemption, repayment, retirement or extinguishment) any Indebtedness (other than Indebtedness incurred or repaid under any revolving credit facility or line of credit unless such Indebtedness has
                  been permanently repaid and not replaced and, for the avoidance of doubt, in the event an item of Indebtedness, or Disqualified Stock (or any portion thereof) is incurred or issued, any Lien is incurred or other transaction is undertaken
                  in reliance on a ratio basket based on the Cash Interest Coverage Ratio, First Lien Net Leverage Ratio, Secured Net Leverage Ratio and the Total Net Leverage Ratio, such ratio(s) shall be calculated without regard to the incurrence of any
                  Indebtedness under any revolving facility in connection therewith), (i) during the applicable Test Period or (ii) subject to paragraph (a), subsequent to the end of the applicable Test Period and prior to or simultaneously with the event
                  for which the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such incurrence or repayment of Indebtedness, in each case to the extent required, as if the same had
                  occurred on the last day of the applicable Test Period (except in the case of the Consolidated Cash Interest Coverage Ratio (or similar ratio), in which case such incurrence, assumption, guarantee, redemption, repayment, retirement or
                  extinguishment of Indebtedness will be given effect as if the same had occurred on the first day of the applicable Test Period).

               

              
                98

                
                  

              

              (e)          If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the date of the event for which the calculation of the Cash Interest Coverage Ratio is made had been
                  the applicable rate for the entire period (taking into account any interest hedging arrangements applicable to such Indebtedness).  Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
                  determined by a Financial Officer of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP.  Interest on Indebtedness that may optionally be determined at an interest rate based upon
                  a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate shall be determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen as the Borrower or
                  applicable Restricted Subsidiary may designate.

               

              (f)          Notwithstanding anything to the contrary in this Section 1.14 or in any
                  classification under GAAP of any Person, business, assets or operations in respect of which a definitive agreement for the asset sale, transfer, disposition or lease thereof has been entered into as discontinued operations, no Pro Forma
                  Effect shall be given to the classification thereof as discontinued operations (and the Consolidated EBITDA or any component thereof attributable to any such Person, business, assets or operations shall not be excluded for any purposes
                  hereunder) until such asset sale, transfer, disposition or lease shall have been consummated.

               

              Article II

               

              THE CREDITS

               

              SECTION 2.01     Commitments and Exchange.

               

              (a)          On the Closing Date, pursuant to the Amendment (whether by a Credit Conversion or by way of
                  new extensions of credit) each Term Lender severally agrees to make Refinancing Term Loans available to the Borrower on the Closing Date in accordance with the Refinancing Term Commitment of such Term Lender.

               

              
                99

                
                  

              

              (b)          During the Revolving Commitment Period, subject to the terms and conditions hereof, each
                  Lender with an Initial Revolving Commitment severally agrees to make Revolving Loans in Dollars and Euros in an aggregate amount up to but not exceeding such Lender’s Initial Revolving Commitment; provided, that after giving
                  effect to the making of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Initial Revolving Commitments then in effect. Amounts borrowed pursuant to this Section 2.01(b) may be repaid
                  and reborrowed during the Revolving Commitment Period. Each Lender’s Initial Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Initial Revolving Loans and all other amounts owed hereunder with respect
                  to the Initial Revolving Facility and the Initial Revolving Commitments shall be paid in full no later than such date.

               

              (c)          Subject to the terms and conditions set forth in any Incremental Facility Amendment or
                  Refinancing Amendment providing for, as applicable, the making, exchange, renewal, replacement or refinancing of Loans or Commitments, each Lender party thereto severally agrees to, as applicable, make, exchange, renew, replace or
                  refinance Loans or Commitments, as applicable, on the date specified therein in an aggregate amount not to exceed the amount of such Lender’s Commitment as set forth therein.

               

              SECTION 2.02     Loans and Borrowings.

               

              (a)         Each 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.  The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations
                  hereunder; provided that the Commitments of the Lenders are several, no Lender shall be responsible for any other Lender’s failure to make Loans as required hereby.

               

              (b)         Subject to Section 2.14, (i) each Term Loan Borrowing denominated in Dollars shall
                  be comprised entirely of ABR Loans or Eurocurrency Loans as Holdings may request in accordance herewith, (ii) each Revolving Borrowing denominated in Euros shall be comprised entirely of Eurocurrency Loans and (iii) each Revolving
                  Borrowing denominated in Dollars shall be comprised entirely of ABR Loans or Eurocurrency Loans as Holdings may request in accordance herewith.  Each Lender at its option may make any Loan by causing any domestic or foreign branch or
                  Affiliate of such Lender to make such Loan; provided that (i) any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement, (ii) such Loan shall be
                  deemed to have been made and held by such Lender, and the obligation of the Borrower to repay such Loan shall nevertheless be to such Lender for the account of such domestic or foreign branch or Affiliate of such Lender and (iii) in
                  exercising such option, such Lender shall use reasonable efforts to minimize increased costs to the Borrower resulting therefrom (which obligation of such Lender shall not require it to take, or refrain from taking, actions that it
                  determines would result in increased costs for which it will not be compensated hereunder or that it otherwise determines would be disadvantageous to it and in the event of such request for costs for which compensation is provided under
                  this Agreement, the provisions of Section 2.15 shall apply); provided, further, that no such domestic or foreign branch or Affiliate of such Lender shall be entitled to any greater indemnification under Section 2.17
                  with respect to such Loan than that to which the applicable Lender was entitled on the date on which such Loan was made (except in connection with any indemnification entitlement arising as a result of any Change in Law after the date on
                  which such Loan was made).

               

              
                100

                
                  

              

              (c)        At the commencement of each Interest Period for any Eurocurrency Borrowing, such Borrowing
                  shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that a Eurocurrency Borrowing that results from a continuation of an outstanding Eurocurrency Borrowing may be in an
                  aggregate amount that is equal to such outstanding Borrowing.  At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000. 
                  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 eight (8) Eurocurrency Borrowings outstanding.

               

              SECTION 2.03    Requests for Borrowings.  To request a Borrowing, the Borrower shall notify the Administrative Agent of such request by: (a)
                telephone or (b) delivery (by hand delivery, facsimile or other electronic transmission) of a written Borrowing Request signed by the Borrower; provided that any telephonic notice by the Borrower
                must be confirmed immediately by delivery to the Administrative Agent of a written Borrowing Request. Each such notice must be received, (a) in the case of a Eurocurrency Borrowing denominated in Dollars or Euros, not later than 11:00 a.m.,
                New York City time, three Business Days before the date of the proposed Borrowing or continuation of Eurocurrency Borrowing or any conversion of Alternate Rate Loans to Eurocurrency Loans (or one Business Day in the case of any Eurocurrency
                Borrowing to be made on the Closing Date) (or such later time as the Administrative Agent may agree in its sole discretion) and (b) in the case of an ABR Borrowing denominated in Dollars, not later than 11:00 a.m., New York City time on the
                requested date of the proposed Borrowing. Each such Borrowing Request shall be irrevocable (provided that a Borrowing Notice may state that such notice is conditioned upon the effectiveness of other credit facilities or the receipt
                of the proceeds from the issuance of other Indebtedness or the occurrence of some other identifiable event or condition, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the
                specified effective date of termination) if such condition is not satisfied) upon delivery and shall specify the following information:

               

              (i)         whether the requested Borrowing is to be a Term Loan Borrowing, a
                  Revolving Borrowing or a Borrowing of any other Class (specifying the Class thereof);

               

              (ii)          the aggregate amount of such Borrowing;

               

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

               

              (iv)         whether such Borrowing is to be an ABR Borrowing or a Eurocurrency
                  Borrowing;

               

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

               

              (vi)         in the case of a Eurocurrency Borrowing, whether the Borrowing will be
                  Dollar dominated or Euro denominated;

               

              (vii)        the location and number of the Borrower’s account to which funds are to
                  be disbursed, which shall comply with the requirements of Section 2.06; and

               

              
                101

                
                  

              

              (viii)       that, as of the date of such Borrowing, the conditions set forth in Section

                    4.02(a) and Section 4.02(b) are satisfied.

               

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

               

              SECTION 2.04     Letters of Credit.

               

              (a)          The Letter of Credit Commitment.

               

              (i)          Subject to the terms and conditions set forth herein, (A) each L/C
                  Issuer agrees, in reliance upon the agreements of the Borrower and the Lenders set forth in this Section 2.04, (1) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration
                  Date, to issue Letters of Credit denominated in Australian Dollars, Dollars, Euros, New Zealand Dollars or Sterling for the account of the Borrower or its subsidiaries (so long as the Borrower is a co-applicant and jointly and severally
                  liable thereunder), which Letters of Credit shall not exceed such L/C Issuer’s Letter of Credit Commitment, and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor
                  drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower or its subsidiaries and any drawings thereunder; provided that, after giving
                  effect to any L/C Credit Extension with respect to any Letter of Credit, (v) the Outstanding Amount of all L/C Obligations of any L/C Issuer shall not exceed the Letter of Credit Commitment of such L/C Issuer, (w) the Total Utilization of
                  Revolving Commitments shall not exceed the Revolving Commitments then in effect, (x) the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of L/C
                  Obligations, shall not exceed such Lender’s Revolving Commitment then in effect, (y) the Outstanding Amount of L/C Obligations shall not exceed the Letter of Credit Sublimit, and (z) the aggregate Outstanding Amount of the Revolving Loans
                  made by each L/C Issuer, plus the aggregate Outstanding Amount of all Letters of Credit issued by such L/C Issuer, plus such L/C Issuer’s Applicable Percentage of the Outstanding Amount of L/C Obligations issued by other L/C Issuers shall
                  not exceed such L/C Issuer’s Revolving Commitment at such time. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so
                  requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully
                  revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

               

              
                102

                
                  

              

              (ii)          No L/C Issuer shall issue any Letter of Credit, if:

               

              (A)         subject to Section 2.04(b)(iii), the expiry date of the requested
                  Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the applicable L/C Issuer approves such expiry date; or

               

              (B)          the expiry date of the requested Letter of Credit would occur after the
                  Letter of Credit Expiration Date, unless all the Lenders and the applicable L/C Issuer have approved such expiry date.

               

              (iii)         No L/C Issuer shall be under any obligation to issue any Letter of
                  Credit if:

               

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

               

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

               

              (C)        any Lender is at that time a Defaulting Lender, unless the applicable L/C
                  Issuer has entered into arrangements, including the delivery of Cash Collateral (in an amount at least equal to 103% of such L/C Issuer’s actual or potential Fronting Exposure), satisfactory to such L/C Issuer (in its sole discretion)
                  with the applicable Revolving Borrower or such Lender to eliminate such L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.22(a)(iv)) with respect to the Defaulting Lender arising from either the
                  Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion;

               

              (D)        the Letter of Credit contains any provisions for automatic reinstatement
                  of the stated amount after any drawing thereunder; or

               

              (E)         except as otherwise agreed by the Administrative Agent and such L/C
                  Issuer, such Letter of Credit is to be denominated in a currency other than Australian Dollars, Dollars, Euros, New Zealand Dollars or Sterling.

               

              (iv)         No L/C Issuer shall amend any Letter of Credit if such L/C Issuer would
                  not be permitted at such time to issue the Letter of Credit in its amended form under the terms hereof.

               

              
                103

                
                  

              

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

               

              (vi)        Each L/C Issuer shall act on behalf of the Lenders with respect to any
                  Letters of Credit issued by it and the documents associated therewith, and the L/C Issuers shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article VIII with respect to any acts taken or omissions
                  suffered by any L/C Issuer in  connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article VIII
                  included such L/C Issuer with respect to such acts or omissions and (B) as additionally provided herein with respect to each L/C Issuer.

               

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

               

              (i)          Each Letter of Credit shall be issued or amended, as the case may be,
                  upon the request of the Borrower delivered to the applicable L/C Issuer (with a copy to the Administrative Agent) in a form mutually agreed by the Borrower and L/C Issuer, appropriately completed and signed by an Authorized Officer of the
                  Borrower. Such request for L/C Credit Extension must be received by the applicable L/C Issuer and the Administrative Agent not later than (1) in the case of Letters of Credit denominated in Dollars, 11:00 a.m. at least three Business Days
                  (or such later date and time as the applicable L/C Issuer may agree in a particular instance in their sole discretion) or (2) in the case of Letters of Credit denominated in Australian Dollars, Euros, New Zealand Dollars or Sterling,
                  11:00 a.m. at least five Business Days (or such later date and time as the applicable L/C Issuer may agree in a particular instance in their sole discretion), in each case, prior to the proposed issuance date or date of amendment, as the
                  case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit request shall specify in form and detail satisfactory to the applicable L/C Issuer: (A) the proposed issuance date of the requested
                  Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the expiry date thereof (including a final expiration date in the case of an Auto-Extension Letter of Credit); (D) the name and address of the
                  beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and
                  nature of the requested Letter of Credit; and (H) such other matters as the applicable L/C Issuer may reasonably require (which may include the form of the requested Letter of Credit). In the case of a request for an amendment of any
                  outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the applicable L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be
                  a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the applicable L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to the applicable L/C Issuer and the Administrative Agent
                  such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the applicable L/C Issuer or the Administrative Agent may reasonably require.

               

              
                104

                
                  

              

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

               

              (iii)        If the Borrower so requests in any applicable Letter of Credit request,
                  the applicable L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit
                  must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day
                  (which shall be a Business Day) (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Once an Auto-Extension Letter of Credit has been issued, unless
                  otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed
                  to have authorized (but may not require) the applicable L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the applicable
                  L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the
                  terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.04(a) or otherwise) or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the
                  Non-Extension Notice Date from the Administrative Agent (or any Lender or Loan Party through the Administrative Agent) or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied
                  (or a Default or Event of Default has occurred and is continuing), and in each such case directing such L/C Issuer not to permit such extension.

               

              
                105

                
                  

              

              (iv)        If the Borrower so requests in any applicable Letter of Credit request,
                  the applicable L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement

                    Letter of Credit”). Once an Auto-Reinstatement Letter of Credit has been issued, unless otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer to permit such
                  reinstatement. Once an Auto-Reinstatement Letter of Credit has been issued, except as provided in the following sentence, the Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuer to reinstate all or a
                  portion of the stated amount thereof in accordance with the provisions of such Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits such L/C Issuer to decline to reinstate all or any portion
                  of the stated amount thereof after a drawing thereunder by giving notice of such non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), such L/C Issuer shall not permit such
                  reinstatement if it has received a notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Reinstatement Deadline from the Administrative Agent, any Lender or the Borrower that one
                  or more of the applicable conditions specified in Section 4.02 is not then satisfied (or a Default or Event of Default has occurred and is continuing) (treating such reinstatement as an L/C Credit Extension for purposes of this
                  clause) and, in each case, directing such L/C Issuer not to permit such reinstatement.

               

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

               

              (vi)        Anything herein to the contrary notwithstanding, in the event of any
                  conflict between the terms of any Letter of Credit request and those of this Agreement, the terms of this Agreement shall be controlling.

               

              (c)        Provisions Related to Extended Revolving Commitments. If the Letter of Credit
                  Expiration Date in respect of any Class of Revolving Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by such L/C Issuer which issued such Letter of Credit, if one or more other Classes of
                  Revolving Commitments under which Letters of Credit are issued in respect of which the Letter of Credit Expiration Date shall not have occurred are then in effect, such Letters of Credit for which consent of the respective L/C Issuer has
                  been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to
                  Sections 2.04(d) and (e)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Commitments in respect of such non-terminating Classes up to an aggregate amount not to exceed the aggregate
                  principal amount of the unutilized Revolving Commitments thereunder at such time (it being understood  that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to
                  immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a letter of credit under a successor credit facility have been agreed upon, the
                  Borrower shall, on or prior to the applicable Maturity Date, cause all such Letters of Credit to be replaced and returned to the applicable L/C Issuer undrawn and marked “cancelled” or to the extent that the Borrower is unable to so
                  replace and return any Letter(s) of Credit, such Letter(s) of Credit shall be secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or the Borrower shall provide Cash Collateral for any such
                  Letter of Credit. Commencing with the Maturity Date of any Class of Revolving Commitments, the sublimit for Letters of Credit shall be agreed solely with such L/C Issuer; provided that, at the request of the Borrower, the Letter of Credit
                  Sublimit immediately following such Maturity Date shall be no less than the Letter of Credit Sublimit immediately prior to such Maturity Date multiplied by a fraction, the numerator of which is the aggregate amount of the Revolving
                  Commitments immediately following such Maturity Date and the denominator of which is the aggregate amount of the Revolving Commitments immediately prior to such Maturity Date.

               

              
                106

                
                  

              

              (d)          Drawings and Reimbursements; Funding of Participations.

               

              (i)         Upon receipt from the beneficiary of any Letter of Credit of a compliant
                  drawing under such Letter of Credit, the relevant L/C Issuer shall promptly notify the Borrower and the Administrative Agent thereof (including the date on which such payment is to be made). Not later than 12:00 noon, Eastern time, on the
                  first Business Day immediately following any payment by an L/C Issuer under a Letter of Credit with notice to the Borrower (each such date, an “Honor Date”), the Borrower shall reimburse, or cause to be reimbursed, such L/C Issuer,
                  in each case, through the Administrative Agent in an amount equal to the Dollar Equivalent of such drawing; provided that, if such reimbursement is not made on the date of payment by the L/C Issuer, the Borrower shall pay interest
                  to the relevant L/C Issuer on such amount at the rate applicable to ABR Loans (without duplication of interest payable on L/C Borrowings). The relevant L/C Issuer shall notify the Borrower of the Dollar Amount of the drawing promptly
                  following the determination thereof. If the Borrower fails to so reimburse, or cause to be reimbursed, such L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, the Dollar Amount
                  of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Revolving Lender’s Applicable Percentage thereof. In such event, in the case of an Unreimbursed Amount under a Letter of Credit, the Borrower shall be
                  deemed to have requested a Revolving Borrowing of ABR Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal
                  amount of ABR Loans but subject to the requirements for the amount of the unutilized portion of the Revolving Commitments under the applicable Revolving Facility of the Revolving Lenders and the conditions set forth in Section 4.02
                  (other than the delivery of a Borrowing Notice).

               

              (ii)        Each Revolving Lender (including any Lender acting as an Issuing Bank)
                  shall upon any notice pursuant to Section 2.04(d)(i) make funds available to the Administrative Agent for the account of the relevant L/C Issuer in Dollars at the Administrative Agent’s Office for payments in an amount equal to
                  its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m., Eastern time, on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.04(d)(iii),
                  each Revolving Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a ABR Loan to the Borrower in such amount and, for the avoidance of doubt, the making of such Base ABR Loans in an aggregate amount
                  equal to such Unreimbursed Amount shall satisfy the Borrower’s reimbursement obligations with respect thereof. The Administrative Agent shall remit the funds so received to the relevant L/C Issuer.

               

              
                107

                
                  

              

              (iii)       With respect to any Unreimbursed Amount that is not fully refinanced by a
                  Revolving Borrowing of ABR Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the relevant L/C Issuer an L/C Borrowing in the
                  amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Revolving Lender’s payment to
                  the Administrative Agent for the account of the relevant L/C Issuer pursuant to Section 2.04(d)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender
                  in satisfaction of its participation obligation under this Section 2.04.

               

              (iv)        Until each Revolving Lender funds its Revolving Loan or L/C Advance
                  pursuant to this Section 2.04(d) to reimburse the relevant L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the account of
                  the relevant L/C Issuer.

               

              (v)         Each Lender’s obligation to make Revolving Loans or L/C Advances to
                  reimburse the applicable L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.04(d), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
                  counterclaim, recoupment, defense or other right which such Lender may have against any L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default or Event of Default, or (C) any
                  other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Revolving Loans pursuant to this Section 2.04(d) is subject to the conditions set forth
                  in Section 4.02 (other than delivery by the Borrower of a Borrowing Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the applicable L/C Issuer for the amount
                  of any payment made by such L/C Issuer under any Letter of Credit, together with interest as provided herein.

               

              (vi)        If any Lender fails to make available to the Administrative Agent for the
                  account of the applicable L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(d) by the time specified in Section 2.04(d)(ii), then, without limiting the other
                  provisions of this Agreement, such L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to
                  the date on which such payment is immediately available to such L/C Issuer at a rate per annum equal to the L/C Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by such
                  L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Commitment or L/C
                  Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the applicable L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be
                  conclusive absent manifest error.

               

              
                108

                
                  

              

              (e)          Repayments of Participations.

               

              (i)          At any time after the applicable L/C Issuer has made a payment under any
                  Letter of Credit and has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.04(d), if the Administrative Agent receives for the account of such L/C Issuer any payment in
                  respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute
                  to such Lender its Applicable Percentage thereof in the same funds as those received by the Administrative Agent.

               

              (ii)         If any payment received by the Administrative Agent for the account of
                  the applicable L/C Issuer pursuant to Section 2.04(a)(i) is required to be returned upon the insolvency, bankruptcy or reorganization of any Loan Party or otherwise (including pursuant to any settlement entered into by such L/C
                  Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to
                  the date such amount is returned by such Lender, at a rate per annum equal to the L/C Overnight Rate. The obligations of the Lenders under this clause shall survive the payment in full of the Secured Obligations and the termination of
                  this Agreement.

               

              (f)         Obligations Absolute. The obligation of the Borrower to reimburse the applicable L/C
                  Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing (whether made to the Borrower or any of its subsidiaries or its Affiliates) shall be absolute, unconditional and irrevocable, and shall be paid strictly
                  in accordance with the terms of this Agreement under all circumstances, including the following:

               

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

               

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

               

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

               

              
                109

                
                  

              

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

               

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

               

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

               

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

               

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

               

              
                110

                
                  

              

              (h)         Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable
                  L/C Issuer and the Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each standby Letter of Credit.

               

              (i)          Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
                  account of each Lender in accordance with its Applicable Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each standby Letter of Credit equal to the Applicable Rate times the daily amount available to
                  be drawn under such Letter of Credit; provided, however, any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash
                  Collateral satisfactory to the applicable L/C Issuer pursuant to Section 2.22 shall be payable, to the maximum extent permitted by applicable law, to the other Lenders in accordance with the upward adjustments in their respective
                  Applicable Percentage allocable to such Letter of Credit pursuant to Section 2.22(a)(iv), with the balance of such fee, if any, payable to such L/C Issuer for its own account. For purposes of computing the daily amount available
                  to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.13. Letter of Credit Fees shall be (i) due and payable on the last Business Day of each March, June,
                  September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there
                  is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each standby Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter
                  that such Applicable Rate was in effect.

               

              (j)         Fronting Fee and Documentary and Processing Charges Payable to applicable L/C Issuer.
                  The Borrower shall pay directly to the applicable L/C Issuer for its own account, in Dollars, a fronting fee with respect to each standby Letter of Credit, at the rate per annum equal to 0.125% per annum, computed on the Dollar Equivalent
                  of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day after the end of each March, June, September and December in
                  respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date
                  and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.13. In addition, the
                  Borrower shall pay directly to the applicable L/C Issuer for its own account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to
                  letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

               

              
                111

                
                  

              

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

               

              (l)          Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit
                  issued or outstanding hereunder is in support of any obligations of, or is for the account of, a subsidiary, the Borrower shall be obligated to reimburse the applicable L/C Issuer hereunder for any and all drawings under such Letter of
                  Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of subsidiaries inures to the benefit of the Borrower, and that the Borrower’s businesses derive substantial benefits from the businesses of
                  such subsidiaries.

               

              (m)        Resignation as L/C Issuer. Any L/C Issuer (unless it is the sole L/C Issuer, in which
                  case, so long as a replacement L/C Issuer reasonably acceptable to the Borrower has agreed to assume the responsibilities of the L/C Issuer, such L/C Issuer) may, upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer.
                  In the event of any such resignation as L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall
                  affect the resignation of any L/C Issuer; provided, further, that the resignation of such L/C Issuer shall only become effective upon the payment of all fees and other amounts due and owing hereunder by such successor to such resigning
                  L/C Issuer. If HSBC or another Lender resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit that it issued, including Letters of Credit
                  outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Revolving Loans that are ABR Loans or fund risk participations in
                  Unreimbursed Amounts pursuant to Section 2.04(d)). Upon the appointment of a successor L/C Issuer and upon the acceptance of such appointment by such successor L/C Issuer, (a) such successor shall succeed to and become vested with
                  all of the rights, powers, privileges and duties of the retiring L/C Issuer as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of
                  such succession or make other arrangements satisfactory to the applicable L/C Issuer to effectively assume the obligations of such L/C Issuer with respect to such Letters of Credit and the successor L/C Issuer shall arrange for the return
                  and cancellation of all such Letters of Credit to the resigning L/C Issuer.

               

              (n)         Existing Letters of Credit. Subject to the terms and conditions hereof, each
                  Existing Letter of Credit shall, effective as of the Closing Date and without any further action by any Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date be deemed a Letter of Credit for all
                  purposes hereof and be subject to and governed by the terms and conditions hereof.

               

              SECTION 2.05     [Reserved].

               

              SECTION 2.06     Funding of Borrowings.

               

              
                112

                
                  

              

              (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 no later than, in the case of a Borrowing on the Closing Date, 10:00 a.m., New York City time, and otherwise 2:00 p.m. New York City Time on the Business Day specified in the applicable
                  Borrowing Notice, in each case, to the Applicable Account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders.  The Administrative Agent will make such Loans available to the Borrower by
                  either (a) promptly crediting the amounts so received, in like funds, to an account or accounts of the Borrower maintained with the Administrative Agent or (b) by wire transfer of such funds, in each case, in accordance with instructions
                  provided by the Borrower to (and reasonably acceptable to) the Administrative Agent in the applicable Borrowing Notice; provided that if on the date the Borrowing Notice with respect to a
                  Borrowing under a Revolving Facility is given by the Borrower (other than with respect to the Closing Date Revolving Borrowing), there are L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the
                  payment in full of any such L/C Borrowing and second, to the Borrower as provided above.

               

              (b)          Unless the Administrative Agent shall have received notice from a Lender prior to the
                  proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in
                  accordance with paragraph (a) of this Section and may, in reliance on such assumption and in its sole discretion, make available to the Borrower a corresponding amount.  In such event, if a Lender has not in fact made its share of the
                  applicable Borrowing available to the Administrative Agent, then the applicable Lender agrees to pay to the Administrative Agent an amount equal to such share on demand of the Administrative Agent.  If such Lender does not pay such
                  corresponding amount forthwith upon demand of the Administrative Agent therefor, the Administrative Agent shall promptly notify the Borrower and the Borrower agrees to pay such corresponding amount to the Administrative Agent forthwith on
                  demand.  The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount, for each day from and including the date such amount is made available to the Borrower to but
                  excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the 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 the Borrower, the interest rate applicable to such Borrowing in accordance with Section 2.13.  If such Lender pays such amount to the Administrative Agent, then such amount shall
                  constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent.

               

              (c)         Obligations of the Lenders hereunder to make Loans and to make payments pursuant to Section

                    9.03(c) are several and not joint.  The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 9.03(c) on any date required hereunder shall not relieve any other Lender of
                  its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 9.03(c).

               

              SECTION 2.07     Interest Elections.

               

              
                113

                
                  

              

              (a)         Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request
                  or designated by Section 2.03 and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or designated by Section 2.03.  Thereafter, the Borrower may elect to
                  convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section.  The Borrower may elect different options with
                  respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be
                  considered a separate Borrowing.

               

              (b)         To make an election pursuant to this Section, the Borrower shall notify the Administrative
                  Agent of such election by (a) telephone or (b) delivery (by hand delivery, facsimile or other electronic transmission) of a written Interest Election Request signed by the Borrower; provided that
                  any telephonic notice by the Borrower must be confirmed immediately by delivery to the Administrative Agent of a written Interest Election Request. Each such notice must be received by the time that a Borrowing Request would be required
                  under Section 2.03 if the Borrower 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 upon delivery.

               

              (c)          Each Interest Election Request shall specify the following information in compliance with Section

                    2.03:

               

              (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 election made pursuant to such Interest
                  Election Request, which shall be a Business Day;

               

              (iii)         whether the resulting Borrowing is to be an ABR Borrowing or a
                  Eurocurrency Borrowing; and

               

              (iv)         if the resulting Borrowing is to be a Eurocurrency 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 Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
                month’s duration.

               

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

               

              (e)         If the Borrower fails to give a timely Interest Election Request, then the applicable Loans
                  shall be made or continued as the same Type of Loan, which if a Eurocurrency Loan, shall have a one-month Interest Period.  Any such automatic continuation of Eurocurrency Loans shall be effective as of the last day of the Interest Period
                  then in effect with respect to the applicable Eurocurrency Loans. 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 Borrower, then, so long as an Event of Default is continuing, no outstanding Borrowing may be converted to a Eurocurrency Borrowing.

               

              
                114

                
                  

              

              SECTION 2.08     Termination and Reduction of Commitments. The Borrower may at any time terminate, or from time to time reduce, the Commitments
                of any Class in accordance with clauses (a) and (b) below; provided that each reduction of the Commitments of any Class shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000.

               

              (a)          Optional. The Borrower may, upon written notice by the Borrower to the
                  Administrative Agent, terminate the unused Commitments of any Class, or from time to time permanently reduce the unused Commitments of any Class, in each case without premium or penalty; provided that:

               

              (i)         any such notice shall be received by the Administrative Agent three (3)
                  Business Days prior to the date of termination or reduction;

               

              (ii)          any such partial reduction shall be in an aggregate amount of $5.0
                  million or any whole multiple of $1.0 million in excess thereof or, if less, the entire amount thereof;

               

              (iii)        any Commitment reduction or termination shall be in an amount up to the
                  amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; and

               

              (iv)        if, after giving effect to any reduction of the Commitments, the L/C
                  Sublimit exceeds the amount of the Revolving Facility, the L/C Sublimit shall be automatically reduced by the amount of such excess.

               

              Except as provided above, the amount of any such Revolving Commitment reduction shall not be applied to the L/C Sublimit unless otherwise specified by the Borrower.

               

              (b)          Mandatory.

               

              (i)        Unless previously terminated, the Refinancing Term Commitments shall
                  terminate upon the making of the Refinancing Term Loans on the Closing Date.

               

              (ii)        Unless previously terminated, the Initial Revolving Commitments shall
                  terminated on the Revolving Commitment Termination Date.

               

              (c)          Promptly following receipt of any notice of a commitment termination or reduction, the
                  Administrative Agent shall advise the Lenders of the contents thereof.  Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of any Commitments delivered by the
                  Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or the receipt of the proceeds from the issuance of other Indebtedness or the occurrence of some other identifiable event or condition,
                  in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date of termination) if such condition is not satisfied.  Any termination or reduction of the
                  Commitments of any Class shall be permanent.  Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class.

               

              
                115

                
                  

              

              SECTION 2.09     Repayment of Loans; Evidence of Debt.

               

              (a)         The Borrower hereby unconditionally promise to pay to the Administrative Agent for the
                  account of each Lender the then unpaid principal amount of each Loan of such Lender as provided in Section 2.10.

               

              (b)         Each Lender shall maintain in accordance with its usual practice an account or accounts
                  evidencing the indebtedness of the Borrower 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.

               

              (c)          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 Borrower 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.

               

              (d)         The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section
                  shall be prima facie evidence of the existence and amounts of the obligations recorded therein, 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 Borrower to pay any amounts due hereunder in accordance with the terms of this Agreement.  In the event of any inconsistency between the entries made pursuant to paragraphs (b) and (c)
                  of this Section, the accounts maintained by the Administrative Agent pursuant to paragraph (c) of this Section shall control.

               

              (e)          Any Lender may request through the Administrative Agent that Loans of any Class made by it
                  be evidenced by a promissory note.  In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to such Lender or its registered assigns and in a form provided by the Administrative Agent and approved by
                  the Borrower.

               

              SECTION 2.10     Repayment of Loans.

               

              (a)          Subject to adjustment pursuant to paragraph (c) of this Section 2.10, the Borrower
                  shall repay to the Administrative Agent for the ratable account of each Term Lender holding an Refinancing Term Loan, on the last Business Day of each March, June, September and December (commencing with the second full fiscal quarter
                  after the Closing Date), the principal amount of Refinancing Term Loans equal to (x) the aggregate outstanding principal amount of Refinancing Term Loans immediately after the funding thereof on the Closing Date (after giving effect to
                  any prepayment on Existing Term Loans on the Cosign Date) multiplied by (y) 0.25%. In connection with any Incremental Term Loans that constitute part of the same Class as the Refinancing Term Loans, the Borrower and the Administrative
                  Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Refinancing Term Loans comprising part of such Class continue to receive a payment that is not less than the same Dollar
                  amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the Refinancing Term Loans notwithstanding any other
                  conditions specified in this Section 2.10(a), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower and the Administrative Agent to
                  ensure that the Incremental Term Loans will be “fungible” with the Refinancing Term Loans. Any prepayment of Refinancing Term Loans pursuant to Section 2.10(a) shall be applied to reduce the subsequent scheduled and outstanding
                  repayments of the Refinancing Term Loans as directed by the Borrower (and absent such direction in direct order of maturity).

               

              
                116

                
                  

              

              (b)          To the extent not previously paid, all Term Loans shall be due and payable on the Term
                  Maturity Date.

               

              (c)          The Borrower shall repay to the Administrative Agent for the ratable account of the
                  Revolving Lenders on the Revolving Maturity Date for the applicable Revolving Facility the aggregate principal amount of all Revolving Loans under such Facility outstanding on such date.

               

              SECTION 2.11     Prepayment of Loans.

               

              (a)          Optional Prepayments.

               

              (i)           Voluntary Prepayments. The Borrower shall have the right at any
                  time and from time to time to prepay any Borrowing in whole or in part, without premium or penalty (except as set forth in Section 2.12(d)); provided that:

               

              (A)         The Borrower shall deliver a Notice of Prepayment to the Administrative
                  Agent not later than (i) 11:00 a.m., New York time, three (3) Business Days prior to any date of prepayment of Eurocurrency Loans and (ii) 1:00 p.m., New York time, on the date of prepayment of Alternate Rate Loans;

               

              (B)          any prepayment of Eurocurrency Loans shall be in a principal amount of
                  $5,000,000 or a whole multiple of $1,000,000 in excess thereof or, if less, the entire principal amount thereof then outstanding; and

               

              (C)          any prepayment of Alternate Rate Loans shall be in a principal amount of
                  $5,000,000 or a whole multiple of $1,000,000 in excess thereof or, if less, the entire principal amount thereof then outstanding.

               

              (ii)         Dutch Auction Procedures. Notwithstanding anything in any Loan
                  Document to the contrary, so long as no Default or Event of Default has occurred and is continuing, a Loan Party may (i) purchase outstanding Term Loans on a non-pro rata basis through open market purchases or (ii) prepay the outstanding
                  Term Loans in accordance with the Dutch Auction Procedures.

               

              
                117

                
                  

              

              (iii)         Provisions Regarding Voluntary Prepayments.

               

              (A)         Each Notice of Prepayment shall specify the date and amount of such
                  prepayment, and the Class(es) and Type(s) of Loans to be prepaid and such notice shall be irrevocable; provided that a notice of optional prepayment may state that such notice is conditional upon the effectiveness of other credit
                  facilities or the receipt of the proceeds from the issuance of other Indebtedness or the occurrence of some other identifiable refinancing event or condition, in which case such notice of prepayment may be revoked by the Borrower by
                  notice to the Administrative Agent on or prior to the specified date of prepayment if such condition is not satisfied.

               

              (B)          Promptly following receipt of any such Notice of Prepayment, the
                  Administrative Agent shall advise the Lenders of the contents thereof and of the amount of such Lender’s pro rata share of such prepayment.  If such notice is given by the Borrower, the Borrower
                  shall make such prepayment and the payment amount specified in such Notice of Prepayment shall be due and payable on the date specified therein.

               

              (C)          Each prepayment in respect of any Term Loans pursuant to Section
                    2.11(a)(i) may be applied to any Class or Classes of Term Loans as directed by the Borrower in its sole discretion. Voluntary prepayments of any Class of Term Loan permitted hereunder shall be applied to the remaining scheduled
                  installments of principal thereof pursuant to Section 2.10(a) in a manner determined at the sole discretion of the Borrower and specified in the notice of prepayment, and on a pro rata
                  basis among Class or Classes of Term Loans that the Borrower selects to prepay.  In the event that the Borrower does not specify which Classes or Classes to prepay or the order in which to apply prepayments to reduce scheduled
                  installments of principal, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the scheduled installments of principal in direct order of maturity on a pro rata
                  basis among all Term Loan Classes. In the absence of a designation by the Borrower as described in the preceding provisions of this paragraph of the Type of Borrowing of any Class, the Administrative Agent shall make such designation in
                  its reasonable discretion with a view, but no obligation, to minimize breakage costs owing under Section 2.16.

               

              (b)         Asset Sales; Recovery Events. In the event and on each occasion that any Net
                  Proceeds are received by or on behalf of Holdings or any Restricted Subsidiary in respect of any Prepayment Event, the Borrower shall, within 10 Business Days after such Net Proceeds are received, prepay Term Loan Borrowings in an
                  aggregate amount equal to:

               

              (i)           in the case of a Prepayment Event pursuant to clause (a) of such
                  definition, the applicable Asset Sale and Recovery Event Prepayment Percentage of such Net Proceeds;

               

              (ii)          in the case of any other Prepayment Event pursuant to clause (b) of
                  such definition, 100% of the amount of such Net Proceeds,

               

                

              
                118

                
                  

              

              provided that, in the case of any Prepayment Event pursuant to clause (a) of such definition, if Holdings or any of its Restricted Subsidiaries invest (or commit to
                invest) the Net Proceeds from such event (or a portion thereof) within 18 months after receipt of such Net Proceeds by Holdings and the Restricted Subsidiaries (including any Investments permitted under Section 6.04, then no
                prepayment shall be required pursuant to this paragraph in respect of such Net Proceeds in respect of such event (or the applicable portion of such Net Proceeds, if applicable) except to the extent of any such Net Proceeds therefrom that
                have not been so invested (or committed to be invested) by the end of such 18-month period (or if committed to be so invested within such 18-month period, have not been so invested within 6 months after the end of the 18-month period), at
                which time a prepayment shall be required in an amount equal to such Net Proceeds that have not been so invested (the date of such required prepayment (the “Reinvestment Prepayment Date”), provided further that prior
                to any Reinvestment Prepayment Date such Net Proceeds may be applied to prepay Revolving Borrowings in the sole discretion of the Borrower.

               

              (c)          Excess Cash Flow. Following the end of each fiscal year of Holdings, commencing with
                  the fiscal year ending December 31, 2022 (the “Excess Cash Flow Period”), the Borrower shall prepay (or cause to be prepaid) Term Loan Borrowings in an aggregate amount equal to the ECF Percentage of Excess Cash Flow for such
                  fiscal year; provided that such amount shall be reduced dollar-for-dollar, at the option of the Borrower, by the aggregate amount (other than any amount applied to reduce the prepayment required under this paragraph in respect of
                  any prior year) of:

               

              (i)          voluntary prepayments of Term Loans  made pursuant to Section
                    2.11(a) during such fiscal year or after such fiscal year and prior to the time such prepayment is due as provided below (provided that such reduction as a result of prepayments pursuant to clause 2.11(a)(ii) shall be
                  limited to the actual amount of such cash prepayment),

               

              (ii)       voluntary prepayments or repurchases of Credit Agreement Refinancing
                  Indebtedness, Indebtedness under Incremental Facilities, Ratio Indebtedness or Incremental Equivalent Debt that are, in each case, secured by the Collateral on a pari passu basis with the
                  Refinancing Term Loans and Initial Revolving Loans (provided that (x) in the case of the prepayment of any revolving indebtedness, there is a corresponding permanent reduction in revolving commitments and (y) in the event of any
                  repurchase of Indebtedness, such reduction shall be limited to the actual amount of such cash payment) during such fiscal year or after such fiscal year and prior to the time such prepayment is due,

               

              (iii)        the amount of any reduction in the outstanding amount of any Term Loans,
                  Credit Agreement Refinancing Indebtedness, Ratio Indebtedness or Incremental Equivalent Debt resulting from any assignment made in accordance with Section 9.04(d) of this Agreement (or similar lender replacement provision in the
                  documents governing such other Indebtedness) during such fiscal year or after such fiscal year and prior to the time such prepayment is due as provided below, in an amount equal to the actual amount of cash paid in connection with the
                  relevant assignment,

               

              
                119

                
                  

              

              (iv)         (x) prepayments of Revolving Loans made pursuant to Section
                    2.11(a)(i) and (y) prepayments of any other revolving loans under any revolving facility (other than under the Revolving Facility or any Incremental Revolving Facility) that is secured, in whole or in part, by the Collateral on a pari passu basis with the Initial Revolving Loans (but without regard to the control of remedies) (in each case of this clause (iv), to the extent accompanied by a permanent reduction in the
                  corresponding revolving commitments),  during such fiscal year or after such fiscal year and prior to the time such prepayment is due, and

               

              (v)          the amount of Capital Expenditures, Capitalized Software Expenditures or
                  acquisitions of intellectual property accrued or made in cash during such period during such fiscal year or after such fiscal year and prior to the time such prepayment is due,

               

              provided that in the case of the payments described in the foregoing clauses (i), (ii), (iii), (iv) and (v) of this proviso, only to the extent
                such  payments are not funded with the proceeds of long-term Indebtedness (other than any Indebtedness under a Revolving Facility or any other revolving credit facilities); provided, further that an Excess Cash Flow payment
                pursuant to this Section 2.11(c) shall only be required with respect to amounts in excess of the greater of (A) $35,000,000 and (B) 5.00% of Consolidated EBITDA for any Excess Cash Flow Period (and only such excess amount shall be
                applied to the payment thereof).  Each prepayment pursuant to this paragraph shall be made on or before the date that is ten Business Days after the date on which financial statements are required to be delivered pursuant to Section
                  5.01 with respect to the fiscal year for which Excess Cash Flow is being calculated.

               

              (d)         Exceeding Revolving Commitments. If for any reason the aggregate Outstanding Amount
                  of Revolving Loans and L/C Obligations at any time exceeds the aggregate Revolving Commitments then in effect, the Borrower shall promptly (but in any event, within one Business Day) prepay Revolving Loans and/or Cash Collateralize the
                  L/C Obligations in an aggregate amount equal to such excess; provided that the Borrower shall not be required to Cash Collateralize any other L/C Obligations pursuant to this Section 2.11(d).

               

              (e)         Other Applicable Indebtedness. In the case of any mandatory prepayment pursuant to Section

                    2.11(b)(i) or (c), Holdings may use a portion of such Net Proceeds or Excess Cash Flow, as applicable, in respect of any such fiscal year that would otherwise be required to be applied to prepay Term Loan Borrowings, to
                  prepay or repurchase on a pro rata basis any other Indebtedness that is secured by the Collateral on a pari passu basis with the Term Loan Borrowings, to the extent such other Indebtedness and the
                  Liens securing the same are permitted hereunder and the documentation governing such other Indebtedness requires such a prepayment or repurchase thereof with the proceeds of such Prepayment Event or with such Excess Cash Flow, as
                  applicable, in each case in an amount not to exceed the product of (x) the amount of such Net Proceeds or Excess Cash Flow and (y) a fraction, the numerator of which is the outstanding principal amount of such other Indebtedness and the
                  denominator of which is the aggregate outstanding principal amount of Refinancing Term Loans and such other Indebtedness and such amount so used shall reduce on a Dollar-for-Dollar basis, any prepayment amount due hereunder in respect of
                  such Net Proceeds or Excess Cash Flow.

               

              
                120

                
                  

              

              (f)          Order of Payments; Decline Proceeds. Prior to any mandatory prepayment of Borrowings
                  hereunder, the Borrower shall, in its sole discretion, select the Borrowing or Borrowings to be prepaid and shall specify such selection in a Notice of Prepayment.  In the event of any mandatory prepayment of Term Loan Borrowings made at
                  a time when more than one Class of Term Loans remains outstanding, the Borrower shall, in its sole discretion, select any Class or Classes Term Loan Borrowings to be prepaid so that the aggregate amount of such prepayment is allocated
                  among the Class or Classes of Term Loan Borrowings selected by the Borrower pro rata based on the aggregate principal amount of outstanding Borrowings of each such Class (or less than pro rata so long as the lenders of such Class of loans
                  to be prepaid on a less than pro rata basis agree to such less than pro rata amount); provided that any mandatory prepayment of (x) Term Loans with the proceeds of Indebtedness incurred pursuant to Section 2.21, shall be
                  applied to the Class of Term Loans being refinanced pursuant thereto or (y) Term Loans with the proceeds of any Credit Agreement Refinancing Indebtedness issued to the extent permitted under Section 6.01(a), shall be applied to
                  the Class of Term Loans being refinanced pursuant thereto; provided further that any Term Lender (and, to the extent provided in the Refinancing Amendment or Loan Modification Offer for any Class of Other Term Loans, any
                  Lender that holds Other Term Loans of such Class) may elect, by written notice to the Administrative Agent at least one Business Day prior to the prepayment date, to decline all (but not a portion of) any prepayment of its Term Loans or
                  Other Term Loans of any such Class pursuant to this Section (other than an optional prepayment pursuant to Section 2.11(a)(i) of this Section or a mandatory prepayment as a result of the Prepayment Event set forth in clause
                    (b) of the definition thereof solely to the extent such prepayment represents a refinancing of the Term Loans, which may not be declined), in which case the aggregate amount of the prepayment that would have been applied to prepay
                  Term Loans or Other Term Loans of any such Class but was so declined shall be retained by the Borrower and the Restricted Subsidiaries (such amounts, “Retained Declined Proceeds”).  In the absence of a designation by the Borrower
                  as described in the preceding provisions of this paragraph of the Type of Borrowing of any Class, the Administrative Agent shall make such designation in its reasonable discretion with a view, but no obligation, to minimize breakage costs
                  owing under Section 2.16. In the event that the Borrower does not specify the order in which to apply prepayments to reduce scheduled installments of principal or as between Classes of Term Loans, the Borrower shall be deemed to
                  have elected that such proceeds be applied to reduce the scheduled installments of principal in direct order of maturity on a pro rata basis among all Term Loan Classes.

               

              (g)       Notice of Prepayment. The Borrower shall notify the Administrative Agent of any
                  mandatory prepayment (to the extent practicable) hereunder by delivering a Notice of Prepayment to the Administrative Agent (i) in the case of prepayment of a Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three
                  Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR Borrowing, not later than 1:00 p.m., New York City time, on the date of prepayment (or in each case, such shorter period as agreed between the
                  Borrower and the Administrative Agent).  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 and a reasonably detailed calculation of the
                  amount of such prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing.  At the Borrower’s election in connection with any prepayment pursuant to this Section 2.11, such
                  prepayment shall not be applied to any Loans of a Defaulting Lender and shall be allocated ratably among the relevant non-Defaulting Lenders.

               

              
                121

                
                  

              

              (h)         Foreign Prepayment Event. Notwithstanding any other provisions of Section
                    2.11(b) or Section 2.11(c), (A) to the extent that any of or all the Net Proceeds of any Prepayment Event set forth in clause (a) of the definition thereof by a Foreign Subsidiary giving rise to a prepayment pursuant
                  to Section 2.11(b) (a “Foreign Prepayment Event”) or Excess Cash Flow of a Foreign Subsidiary giving rise to a payment pursuant to Section 2.11(c) are prohibited by or would violate or conflict with any Requirement
                  of Law from being repatriated to the Borrower or would conflict with the fiduciary duties of such Foreign Subsidiary’s directors, or result in, or could reasonably be expected to result in, a material risk of personal or criminal
                  liability for any officer, director, employee, manager, member or management or consultant of such Foreign Subsidiary, the portion of such Net Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Term Loans
                  at the times provided in Section 2.11(b) or Section 2.11(c), as the case may be, and such amounts may be retained by the applicable Foreign Subsidiary so long, but only so long, as the applicable Requirement of Law will
                  not permit repatriation to the Borrower (the Borrower hereby agreeing to cause the applicable Foreign Subsidiary to use commercially reasonable efforts to promptly take all actions required by the applicable Requirement of Law to permit
                  such repatriation), and once such repatriation of any of such affected Net Proceeds or Excess Cash Flow is permitted under the applicable Requirement of Law, such repatriation will be promptly effected and such repatriated Net Proceeds or
                  Excess Cash Flow will be promptly (and in any event not later than five Business Days after such repatriation) applied (net of additional taxes payable or reserved against as a result thereof) to the repayment of the Term Loans pursuant
                  to Section 2.11(b) or Section 2.11(c), as applicable, (B) to the extent that and for so long as the Borrower has determined in good faith that repatriation of any of or all the Net Proceeds of any Foreign Prepayment Event
                  or Excess Cash Flow would have a material adverse tax consequence (taking into account any foreign tax credit or benefit actually realized in connection with such repatriation in the year of such repatriation), including any withholding
                  tax, with respect to such Net Proceeds or Excess Cash Flow if such amount were repatriated as a dividend, the Net Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Term Loans (or other Loans required to
                  be prepaid) at the times provided in Section 2.11(b) or Section 2.11(c), as the case may be, and such amounts may be retained by the applicable Foreign Subsidiary; provided that when the Borrower determines in good
                  faith that repatriation of any of or all the Net Proceeds of any Foreign Prepayment Event or Excess Cash Flow would no longer have a material adverse tax consequence (taking into account any foreign tax credit or benefit actually realized
                  in connection with such repatriation in the year of such repatriation) with respect to such Net Proceeds or Excess Cash Flow if such amount were repatriated as a dividend, such Net Proceeds or Excess Cash Flow shall be promptly (and in
                  any event not later than five Business Days after such repatriation) applied (net of additional taxes payable or reserved against as a result thereof) to the repayment of the Term Loans pursuant to Section 2.11(b) or Section
                    2.11(c), as applicable and (C) in connection with any prepayment attributable to any joint venture, to the extent that repatriation of any or all of the Net Proceeds of any Foreign Prepayment Event or Excess Cash Flow of a Foreign
                  Subsidiary giving rise to a prepayment pursuant to Section 2.11(b) or Section 2.11(c), violate any organizational document of any joint venture (or any relevant shareholders’ or similar agreement) existing on the Closing
                  Date or the date of investment in such joint venture (so long as such restrictions in such organizational documents were not entered into for purposes of circumventing such joint venture’s obligations to make any payment in respect of
                  such Excess Cash Flow or a Foreign Prepayment Event), in each case if the amount subject to the relevant prepayment were upstreamed or transferred as a distribution or dividend the portion of such Net Proceeds or Excess Cash Flow so
                  affected will not be required to be applied to repay Term Loans at the times provided in Section 2.11(b) or Section 2.11(c), as the case may be, and such amounts may be retained by the applicable Foreign Subsidiary so
                  long, but only so long, as the applicable organizational documents will not permit repatriation to the Borrower, and once such repatriation of any of such affected Net Proceeds or Excess Cash Flow is permitted under the applicable
                  organizational documents, such repatriation will be promptly effected and such repatriated Net Proceeds or Excess Cash Flow will be promptly (and in any event not later than five Business Days after such repatriation) applied (net of
                  additional taxes payable or reserved against as a result thereof) to the repayment of the Term Loans pursuant to Section 2.11(b) or Section 2.11(b), as applicable.

               

              
                122

                
                  

              

              SECTION 2.12     Fees.

               

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

               

              (b)        The Borrower agrees to pay to the Administrative Agent for the account of each Revolving
                  Lender under the Initial Revolving Facility in accordance with its Applicable Percentage, a commitment fee equal to the applicable Commitment Fee Rate times the actual daily amount by which the aggregate Initial Revolving Commitments
                  exceed the sum of (a) the Outstanding Amount of Initial Revolving Loans and (b) the Outstanding Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the
                  Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a
                  Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no commitment fee shall
                  accrue on any of the Commitments under any Revolving Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.  The commitment fee on each Revolving Commitment shall accrue at all times from the Closing Date (or
                  date of initial effectiveness, as applicable) until the Revolving Maturity Date for the applicable Revolving Commitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and
                  payable quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with June 30, 2021, and on the Revolving Maturity Date for such Revolving Facility.  The commitment fee shall be calculated
                  quarterly in arrears, and if there is any change in the Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Commitment Fee Rate separately for each period during such quarter that such
                  Commitment Fee Rate was in effect.

               

              (c)         All fees payable hereunder shall be paid on the dates due, in immediately available funds,
                  to the Administrative Agent.  Fees paid hereunder shall not be refundable under any circumstances.

               

              
                123

                
                  

              

              (d)         In the event that, on or prior to the sixth month anniversary of the Closing Date, the
                  Borrower (A) makes any voluntary prepayment of Refinancing Term Loans (with any replacement of a Non-Accepting Lender pursuant to Section 2.24 or any of the mandatory prepayments described in Section 2.11(b) with respect
                  to the incurrence of Indebtedness, in each case being deemed, for this purpose, to constitute a voluntary prepayment) in connection with any Repricing Transaction the primary purpose of which is to decrease the Effective Yield on the
                  Refinancing Term Loans or (B) effects any amendment of this Agreement resulting in a Repricing Transaction the primary purpose of which (as determined by Holdings acting in good faith) is to decrease the Effective Yield on the Refinancing
                  Term Loans, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the Lenders holding Refinancing Term Loans, (x) a prepayment premium of 1.00% of the principal amount of the Refinancing Term Loans being
                  prepaid in connection with such Repricing Transaction and (y) in the case of clause (B), an amount equal to 1.00% of the aggregate amount of the applicable Refinancing Term Loans outstanding immediately prior to (and subject to) such
                  amendment that are subject to an effective pricing reduction pursuant to such Repricing Transaction (including the principal amount of any Refinancing Term Loans of any Non-Accepting Lender which are required to be assigned in accordance
                  with Section 2.24 as a result of such Non-Accepting Lender’s failure to consent to such amendment).

               

              (e)          Notwithstanding the foregoing, and subject to Section 2.22, the Borrower shall not
                  be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.12.

               

              SECTION 2.13     Interest.

               

              (a)          The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus
                  the Applicable Rate.

               

              (b)          The Loans comprising each LIBOR Borrowing:

               

              (i)           denominated in Dollars shall bear interest at the Adjusted LIBO Rate
                  for the Interest Period in effect for such Borrowing plus the Applicable Rate, and

               

              (ii)          denominated in Euros shall bear interest at the applicable LIBO Rate
                  for Euros for the Interest Period in effect for such Borrowing plus the Applicable Rate.

               

              (c)          Notwithstanding the foregoing, after the occurrence and continuance of a Specified Event of
                  Default, if any principal of or interest on any Loan or any premium or fee by the Borrower is not paid when due, whether at stated maturity, upon acceleration or otherwise, the relevant overdue amount shall bear interest, after as well as
                  before judgment, at a rate per annum equal to (i) in the case of any overdue principal or interest of any Loan, 2.00% per annum plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or
                  (ii) in the case of any other amount, 2.00% per annum plus the rate applicable to Term Loans that are ABR Loans as provided in paragraph (a) of this Section; provided that no amount shall be payable pursuant to this Section 2.13(c)
                  to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.

               

              (d)         Accrued interest on each Loan shall be payable by the Borrower in arrears on each Interest
                  Payment Date for such Loan, provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan, accrued interest on the principal
                  amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency 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.

               

              
                124

                
                  

              

              (e)         All computations of interest for ABR Loans (when the Alternate Base Rate is based on the
                  “prime rate”) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed. 
                  Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the
                  same day on which it is made shall bear interest for one day.  Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

               

              SECTION 2.14     Alternate Rate of Interest. If at least two Business Days prior to the commencement of any Interest Period for a Eurocurrency
                Borrowing:

               

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

               

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

               

              then the Administrative Agent shall give written notice thereof to Holdings and the Lenders by hand delivery, facsimile or other electronic transmission as promptly as practicable thereafter
                and, until the Administrative Agent notifies Holdings and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of
                any Borrowing as, a Eurocurrency Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurocurrency Borrowing, then such Borrowing shall be made as an ABR Borrowing and the utilization of the LIBO Rate component in
                determining the Alternate Base Rate shall be suspended; provided, however, that, in each case, Holdings may revoke any Borrowing Request that is pending when such notice is received.

               

              (c)          Benchmark Replacement.

               

              (i)        Notwithstanding anything to the contrary herein or in any other Loan
                  Document, if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x)
                  if a Benchmark Replacement is determined in accordance with clause (1) or (2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes
                  hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document (other
                  than any Benchmark Replacement Conforming Changes made pursuant to clause (d) below) and (y) if a Benchmark Replacement is determined in accordance with clause (3) of the definition of “Benchmark Replacement” for such Benchmark
                  Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day
                  after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document (other than any Benchmark Replacement
                  Conforming Changes made pursuant to clause (d) below) so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders of each
                  Class.

               

              
                125

                
                  

              

              (ii)        Notwithstanding anything to the contrary herein or in any other Loan
                  Document and subject to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark,
                  then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or
                  further action or consent of any other party to, this Agreement or any other Loan Document; provided that, this clause (b) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrowers a Term SOFR
                  Notice.

               

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

               

              (e)         Notices; Standards for Decisions and Determinations. The Administrative Agent will
                  promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark  Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date, (ii) the
                  implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v) the commencement or
                  conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent, the Borrower or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.14,
                  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 or any selection, will be
                  conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to
                  this Section 2.14.

               

              
                126

                
                  

              

              (f)        Unavailability of Tenor of Benchmark. Notwithstanding anything to the contrary herein
                  or in any other Loan Document, at any time (including in connection with the  implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or LIBOR) and either (A) any tenor for such
                  Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion and in consultation with the Borrower or (B) the
                  regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent
                  may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is
                  subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark
                  (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor.

               

              (g)          Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the
                  commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Eurodollar Borrowing of, conversion to or continuation of Eurodollar Rate Loans to be made, converted or continued during any Benchmark
                  Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Alternate Base Rate Loans. During any Benchmark Unavailability Period or at any
                  time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination
                  of Alternate Base Rate.

               

              SECTION 2.15     Increased Costs.

               

              (a)          If any Change in Law shall:

               

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

               

              (ii)         impose on any Lender or the London interbank market any other condition,
                  cost or expense (other than with respect to Taxes) affecting this Agreement or Eurocurrency Loans made by such Lender or participation therein; or

               

              (iii)         subject the Administrative Agent or any Lender to any Taxes on its
                  Loans, 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 the Administrative Agent or such Lender of making or maintaining any Loan (or of maintaining its obligation to make any
                such Loan or of observing or performing its obligations under any Loan Document) or to reduce the amount of any sum received or receivable by the Administrative Agent or such Lender  hereunder (whether of principal, interest or otherwise),
                then, from time to time upon request of the Administrative Agent or such Lender, the Borrower will pay (or cause to be paid) to the Administrative Agent or such Lender, as the case may be, such additional amount or amounts as will
                compensate the Administrative Agent or such Lender, as the case may be, for such increased costs actually incurred or reduction actually suffered, provided that the Borrower shall not be liable for such compensation if, in the case
                of requests for reimbursement under clause (ii) above resulting from a market disruption, (A) the relevant circumstances are not generally affecting the banking market or (B) the applicable request has not been made by Lenders
                constituting Required Lenders; provided, further, that to the extent any such costs or reductions are incurred by any Lender as a result of any requests, rules, guidelines or directives enacted or promulgated under the Dodd-Frank
                Wall Street Reform and Consumer Protection Act of 2010 or Basel III, then such Lender shall be compensated pursuant to this Section 2.15(a) only to the extent such Lender is imposing such charges on similarly situated borrowers
                where the terms of other syndicated credit facilities permit it to impose such charges.  Notwithstanding the foregoing, this paragraph will not apply to (A) Indemnified Taxes, (B) Other Taxes or (C) Excluded Taxes.

               

              
                127

                
                  

              

              (b)          If any Lender determines that any Change in Law regarding capital or liquidity requirements
                  has the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender, to a level below that which such
                  Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or  policies and the policies of such Lender’s holding company with respect to capital adequacy and
                  liquidity), then, from time to time upon request of such Lender contemplated by clause (c) below, the Borrower will pay or cause to be paid to such Lender such additional amount or amounts as will compensate such Lender or such
                  Lender’s or holding company for any such reduction actually suffered.

               

              (c)        Any Lender requesting compensation under this Section 2.15 shall be required to
                  deliver a certificate to Holdings, (i) setting forth the amount or amounts necessary to compensate such Lender or its holding company in reasonable detail, as the case may be, as specified in paragraph (a) or (b) of this Section, (ii)
                  setting forth, in reasonable detail, the manner in which such amount or amounts were determined and (iii) certifying that such Lender is generally charging such amounts to similarly situated borrowers to the extent required above, which
                  certificate shall be conclusive absent manifest error.  The Borrower shall pay such Lender the amount shown as due on any such certificate within 15 days after receipt thereof.

               

              (d)        Failure or delay on the part of any Lender to demand compensation pursuant to this Section
                  shall not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions
                  suffered more than 180 days prior to the date that such Lender notifies Holdings of the Change in Law giving rise to such increased costs or reductions and of such Lender’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 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

               

              SECTION 2.16     Break Funding Payments.  In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of
                an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert,
                continue or prepay any Incremental Revolving Loan or Term Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.03 or Section 2.11(a)(iii)(A),
                and is revoked in accordance therewith) or (d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19 or Section

                  9.02(d), then, in any such event, the Borrower shall, after receipt of a written request by any Lender affected by any such event (which request shall set forth in reasonable detail the basis for requesting such amount), compensate
                each Lender for the actual loss, cost and expense incurred by such Lender attributable to such event (other than loss of profit).  Any Lender requesting compensation under this Section 2.16 shall be required to deliver a certificate
                to Holdings setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section, the basis therefor and, in reasonable detail and the manner in which such amount or amounts were determined, which certificate
                shall be conclusive absent manifest error.  The Borrower shall pay such Lender the amount shown as due on any such certificate within 15 days after receipt of such demand.  Notwithstanding the foregoing, this Section 2.16 will not
                apply to losses, costs or expenses resulting from Taxes, as to which Section 2.17 shall govern.

               

              
                128

                
                  

              

              SECTION 2.17     Taxes.

               

              (a)         Any and all payments by or on account of any obligation of any Loan Party under any Loan
                  Document shall be made free and clear of and without deduction or withholding for any Taxes, provided that if the applicable Withholding Agent shall be required by applicable Requirements of Law (as determined in the good faith discretion
                  of the applicable Withholding Agent) to deduct or withhold any Taxes from such payments, then (i) the applicable Withholding Agent shall make such deductions or withholdings, (ii) the applicable Withholding Agent shall timely pay the full
                  amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Requirements of Law and (iii) if the Tax in question is an Indemnified Tax or Other Tax, the amount payable by the applicable Loan Party
                  shall be increased (or, in the case of an Australian Loan Party, such Australian Loan Party shall pay an additional amount) as necessary so that after all required deductions and withholdings have been made (including deductions and
                  withholdings applicable to additional amounts payable under this Section 2.17) the Lender, Administrative Agent, or other applicable recipient receives an amount equal to the sum it would have received had no such deductions or
                  withholdings been made.

               

              (b)          [reserved].

               

              (c)        Without limiting the provisions of paragraph (a) above, the Loan Parties shall timely pay to
                  the relevant Governmental Authority in accordance with Requirements of Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

               

              (d)        The Loan Parties shall indemnify the Administrative Agent and each Lender, within 30 days
                  after written demand therefor, for the full amount of any Indemnified Taxes payable or paid by, or required to be withheld or deducted from a payment to, the Administrative Agent or such Lender, as the case may be, and any Other Taxes
                  (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
                  Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate setting forth in reasonable detail the basis and calculation of the amount of such payment or liability delivered to
                  Holdings 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.

               

              
                129

                
                  

              

              (e)         As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Loan Party
                  to a Governmental Authority pursuant to this Section 2.17, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a
                  copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

               

              (f)       Each Lender shall deliver to Holdings and the Administrative Agent at the time or times
                  reasonably requested by Holdings or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Requirements of Law and such other documentation reasonably requested by Holdings or the
                  Administrative Agent (i) as will permit such payments to be made without, or at a reduced rate of, withholding or (ii) as will enable Holdings 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 sentence, the completion, execution and submission of such documentation (other than such documentation set forth in Section
                    2.17(f)(1)-(2) 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.  Each Lender shall, whenever a lapse of time or change in circumstances renders such documentation obsolete, expired or inaccurate in any material respect, deliver promptly to Holdings and the
                  Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by Holdings or the Administrative Agent) or promptly notify Holdings and the Administrative Agent in writing of its
                  legal ineligibility to do so.  Each Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties and to any successor Administrative Agent any documentation provided by such Lender to the Administrative Agent pursuant
                  to this Section 2.17.

               

              Without limiting the foregoing:

               

              (1)         Each Lender shall, to the extent it is legally entitled to do so, deliver
                  to Holdings and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the request of Holdings or the Administrative Agent) two properly completed and duly
                  signed copies of IRS Form W-9 or W-8, as may be applicable, establishing that such Lender is exempt from U.S. federal backup withholding.

               

              (2)          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 Holdings and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by Holdings 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 Holdings or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply
                  with their obligations under FATCA, to determine whether such Lender has or has not complied with such Lender’s obligations under FATCA and, if necessary, to determine the amount to deduct and withhold from such payment.  Solely for
                  purposes of this clause (3), “FATCA” shall include any amendments made to FATCA after the date hereof.

               

              
                130

                
                  

              

              Notwithstanding any other provisions of this paragraph (f), a Lender shall not be required to deliver any form or other documentation that such Lender is not legally eligible to deliver.

               

              (g)         If the Administrative Agent or a Lender determines in its good faith discretion that it has
                  received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.17, it shall pay over such
                  refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all
                  out-of-pocket expenses (including Taxes) of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon
                  the request of the Administrative Agent or such Lender, agrees promptly to repay the amount paid over to the Borrower pursuant to this Section 2.17(g) (plus any penalties, interest or other charges imposed by the relevant
                  Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority.  The Administrative Agent or such Lender, as the case
                  may be, shall, at Holdings’ request, provide Holdings with a copy of any notice of assessment or other evidence of the requirement to repay such refund received from the relevant taxing authority (provided that the Administrative Agent or
                  such Lender may delete any information therein that the Administrative Agent or such Lender deems confidential).  Notwithstanding anything to the contrary, (i) in no event will the Administrative Agent or any Lender be required to pay any
                  amount pursuant to this paragraph (g) the payment of which would place the Administrative Agent or Lender, as applicable, in a less favorable net after-Tax position than the Administrative Agent or Lender 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 with respect to such Tax had never been paid and (ii) this Section
                    2.17(g) shall not be construed to require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating to Taxes which it deems confidential) to any Loan Party or any other Person.

               

              (h)         Each party’s obligations under this Section 2.17 shall survive the resignation or
                  replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, or the consummation of the transactions contemplated hereby, the repayment, satisfaction or discharge of all obligations under any
                  Loan Document, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof.

               

              (i)           For purposes of this Section 2.17 and the indemnity set forth in Article VIII,
                  “applicable Requirements of Law” shall include FATCA.

               

              SECTION 2.18     Payments Generally; Pro Rata Treatment; Sharing of Setoffs.

               

              
                131

                
                  

              

              (a)          The Borrower shall make each payment required to be made by it under any Loan Document
                  (whether of principal, interest, fees, or of amounts payable under Section 2.15, Section 2.16 or Section 2.17, or otherwise) prior to the time expressly required hereunder or under such other Loan Document for such
                  payment (or, if no such time is expressly required, prior to 3:00 p.m., New York City time), on the date when due, in immediately available funds, without setoff 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 (for the avoidance of doubt any amounts received after 3:00 p.m. on such day
                  shall not constitute a Default or Event of Default, so long as such funds are actually received on the date when due).  All such payments shall be made to such account as may be specified by the Administrative Agent, except that payments
                  pursuant to Section 2.15, Section 2.16, Section 2.17 and 9.03 shall be made directly to the Persons entitled thereto and payments pursuant to other Loan Documents shall be made to the Persons specified
                  therein.  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 (other than payments on the
                  Eurocurrency Loans) under any Loan Document 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.  If any payment on a Eurocurrency Loan becomes due and payable on a
                  day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall
                  be made on the immediately preceding Business Day.  In the case of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate for the period of such extension.  All
                  payments or prepayments of any Loan (or of interest thereon) shall be made in the currency in which such Loan is denominated, and all other payments under each Loan Document shall be made in Dollars.

               

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

               

              (c)         If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
                  payment in respect of any principal of or interest on any of its Loans of a given Class  resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans of such Class and accrued interest thereon
                  than the proportion received by any other Lender with outstanding Loans of the same Class, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of such Class of other
                  Lenders of such Class at such time outstanding to the extent necessary so that the benefit of all such payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of principal of and accrued
                  interest on their respective Loans of such Class; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the
                  purchase price restored to the extent of such recovery, without interest and (ii) the provisions of this paragraph shall not be construed to apply to (A) any payment made by the Borrower pursuant to and in accordance with the express
                  terms of this Agreement (including the application of funds arising from existence of a Defaulting Lender), (B) any payment obtained by a Lender as consideration for any permitted assignment of or sale of a participation in any of its
                  Loans to any assignee or participant, including any payment made or deemed made in connection with Section 2.21, 2.22 or 9.02 or (C) any disproportionate payment obtained by a Lender of any Class as a result of the
                  extension by Lenders of the maturity date or expiration date of some but not all Loans or Commitments of that Class or any increase in the Applicable Rate in respect of Loans of Lenders that have consented to any such extension.  The
                  Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of
                  setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.

               

              
                132

                
                  

              

              (d)       Unless the Administrative Agent shall have received notice from Holdings prior to the date on
                  which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
                  accordance herewith and may, in reliance upon such assumption and in its sole discretion, distribute to the Lenders the amount due.  In such event, if the Borrower has not in fact made such payment, then each of the Lenders, severally
                  agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender 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, 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.

               

              (e)        If any Lender shall fail to make any payment required to be made by it pursuant to Section

                    2.06(a), Section 2.06(b), Section 2.18(d) or Section 9.03(c), then the Administrative Agent may, in its discretion and in the order determined by the Administrative Agent (notwithstanding any contrary
                  provision hereof), (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations 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 to be applied to, any future funding obligations of such Lender under any such Section.

               

              SECTION 2.19     Mitigation Obligations; Replacement of Lenders.

               

              (a)         If any Lender requests compensation under Section 2.15 or if any Loan Party is
                  required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17 or any event gives rise to the operation of Section 2.23, then such Lender shall use
                  reasonable efforts to designate a different lending office for funding or booking its Loans hereunder affected by such event, or to assign and delegate its rights and obligations hereunder to another of its offices, branches or
                  Affiliates, if, in the reasonable judgment of such Lender, such designation or assignment and delegation (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or Section 2.17 or mitigate the applicability
                  of Section 2.23, as the case may be, and (ii) would not subject such Lender to any unreimbursed cost or expense reasonably deemed by such Lender to be material and would not be inconsistent with the internal policies of, or
                  otherwise be disadvantageous in any material economic, legal or regulatory respect to, such Lender.

               

              
                133

                
                  

              

              (b)         If (i) any Lender requests compensation under Section 2.15 or gives notice under Section

                    2.23, (ii) the Borrower is required to pay any additional amount to any Lender or to any Governmental Authority for the account of any Lender pursuant to Section 2.17 or (iii) any Lender becomes a Defaulting Lender, then the
                  Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate (and such Lender shall be obligated to assign and delegate), without recourse (in accordance
                  with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement and the other Loan Documents to an Eligible Assignee that shall assume such obligations (which
                  assignee may be another Lender, if a Lender accepts such assignment and delegation), provided that (A) the Borrower shall have received the prior written consent of the Administrative Agent to the extent such consent would be
                  required under Section 9.04(b) for an assignment of Loans or Commitments, as applicable, which consents, in each case, shall not unreasonably be withheld or delayed, (B) such Lender shall have received payment of an amount equal
                  to the outstanding principal of its Loans, accrued but unpaid interest thereon, accrued but unpaid fees and all other amounts payable to it hereunder from the assignee or the Borrower, (C) the Borrower or such assignee shall have paid
                  (unless waived) to the Administrative Agent the processing and recordation fee specified in Section 9.04(b)(ii) and (D) in the case of any such assignment resulting from a claim for compensation under Section 2.15,
                  payments required to be made pursuant to Section 2.17 or a notice given under Section 2.23, such assignment will result in a material reduction in such compensation or payments.  A Lender shall not be required to make any
                  such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise (including as a result of any action taken by such Lender under paragraph (a) above), the circumstances entitling the Borrower to
                  require such assignment and delegation cease to apply.  Each party hereto agrees that an assignment required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative
                  Agent and the assignee and that the Lender required to make such assignment need not be a party thereto.

               

              SECTION 2.20     Incremental Loans and Commitments.

               

              (a)       Incremental Commitments. The Borrower may at any
                  time or from time to time after the Closing Date, by written notice to the Administrative Agent (an “Incremental Request”), request (i) one or more new commitments which shall be (A) of the same Class as any outstanding Term Loans
                  (a “Term Loan Increase”) or (B) a new Class of term loans (collectively with any Term Loan Increase, the “Incremental Term Commitments”) under this Agreement and/or (ii) on or more increase in the amount of the Revolving
                  Commitments (a “Revolving Commitment Increase”) or the establishment of one or more revolving commitments and any increase thereunder (each an “Incremental Revolving Facility”; and, collectively with any such Revolving
                  Commitment Increase, the “Incremental Revolving Commitment” and, collectively with any Incremental Term Commitments, the “Incremental Commitments”), in each case, to be incurred by the Borrower, whereupon the Administrative
                  Agent shall promptly deliver a copy of such Incremental Request to each of the Lenders.

               

              
                134

                
                  

              

              (b)         Incremental Loans. Any Incremental Term Loans or
                  Incremental Revolving Commitments, in each case, other than Loan Increases, effected through the establishment of one or more new Term Loans or new Revolving Facility made on an Incremental Facility Closing Date shall be designated a
                  separate Class of Incremental Term Loans or Incremental Revolving Commitments, as applicable, for all purposes of this Agreement. On any Incremental Facility Closing Date on which any Incremental Term Commitments of any Class are effected
                  (including through any Term Loan Increase), subject to the satisfaction (or waiver) of the terms and conditions in this Section 2.20, (i) each Incremental Term Lender of such Class shall make a Loan to the Borrower (an “Incremental

                    Term Loan”) in an amount equal to its Incremental Term Commitment of such Class and (ii) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and
                  the Incremental Term Loans of such Class made pursuant thereto. On any Incremental Facility Closing Date on which any Incremental Revolving Commitment of any Class are effected through the establishment of one or more new revolving credit
                  commitments (including through any Revolving Commitment Increase), subject to the satisfaction (or waiver) of the terms and conditions in this Section 2.20, (i) each Incremental Revolving Credit Lender shall make its Commitment
                  available to the Borrower (the loans made pursuant to Incremental Revolving Commitments, “Incremental Revolving Loans” and collectively with any Incremental Term Loan, the “Incremental Loans”) in an amount equal to its
                  Incremental Revolving Loan Commitment, and (ii) each Incremental Revolving Credit Lender shall become a Lender hereunder with respect to its Incremental Revolving Commitment and the Incremental Revolving Loans made pursuant thereto.
                  Notwithstanding the foregoing, Incremental Term Loans may have identical terms to any of the Term Loans and be treated as the same Class as any of such Term Loans.

               

              (c)         Incremental Request. Each Incremental Request from
                  the Borrower pursuant to this Section 2.20 shall set forth the requested amount and proposed terms of the relevant Incremental Loan. Incremental Commitments and Incremental Loans may be provided by any existing Lender (but no
                  existing Lender will have an obligation to make any Incremental Commitment or Incremental Loans) or by any other bank or other financial institution which is an Eligible Assignee (any such other bank or other financial institution being
                  called an “Additional Lender”) (each such existing Lender or Additional Lender providing an Incremental Commitment or Incremental Loans, an “Incremental Revolving Credit Lender” or “Incremental Term Lender,” as
                  applicable, and, collectively, the “Incremental Lenders”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld, conditioned or delayed) to such Additional Lender’s making of such
                  Incremental Commitments and Incremental Loans to the extent such consent, if any, would be required under Section 9.04(b) for an assignment of Loans or Commitments to such Additional Lender.

               

              (d)      Effectiveness of Incremental Facility Amendment. The
                  effectiveness of any Incremental Facility Amendment, and the Incremental Commitments thereunder, shall be subject to the satisfaction (or waiver in accordance with Section 9.02 hereof) on the date of such Incremental Facility
                  Amendment (the “Incremental Facility Closing Date”) of each of the following conditions:

               

              (i)           subject to Section 1.08, no Event of Default shall exist after
                  giving effect to such Incremental Commitments;

               

              (ii)         each Incremental Term Commitment shall be in an aggregate principal
                  amount that is not less than $10,000,000 and shall be in an increment of $1,000,000 (provided that such amount may be less than $10,000,000 (and need not be in an increment of $1,000,000) if such
                  amount represents all remaining availability under the limit set forth in clause (iii) below) and each Incremental Revolving Loan Commitment shall be in an aggregate principal amount that is not less than $10,000,000 and shall be
                  in an increment of $1,000,000 (provided that such amount may be less than $10,000,000 (and need not be in an increment of $1,000,000) if such amount represents all remaining availability under the
                  limit set forth in clause (iii) below); and

               

              
                135

                
                  

              

              (iii)        at the time of and after giving effect to the effectiveness of any
                  proposed Incremental Term Loans or Incremental Revolving Commitments, the aggregate amount of the Incremental Term Loans and Incremental Revolving Commitments shall not exceed:

               

              (A)          an amount equal to the Starter Basket; plus

               

              (B)          (i) the amount of all prior voluntary prepayments of Term Loans or
                  Revolving Loans (in each case, with respect to any revolving loans, to the extent accompanied by a permanent reduction in the related revolving commitments), in each case unless made with the proceeds of Credit Agreement Refinancing
                  Indebtedness or other long-term Indebtedness (other than revolving Indebtedness), (ii) the amount paid in respect of any reduction in the outstanding principal amount of Term Loans resulting from assignments to (and purchases by) any Loan
                  Party and the concurrent cancellation of such Term Loans, amounts paid by any Loan Party in respect of the principal amount of any Term Loans utilizing the mandatory assignment provisions in respect of Defaulting Lenders, Non-Accepting
                  Lenders and/or Non-Consenting Lenders pursuant to Sections 2.19(b), 2.24(c) and 9.02(c), respectively (to the extent that the applicable Loans and Commitments subject to such mandatory assignments are permanently
                  repaid and cancelled), and the amount of any voluntary permanent commitment reductions of undrawn and unutilized Revolving Commitments, (iii) the amount of all prior voluntary prepayments (with respect to any revolving loans, to the
                  extent accompanied by a permanent reduction in the related revolving commitments), redemptions, debt buy backs (to the extent permanently cancelled in connection therewith), payments utilizing the yank-a-bank provisions (to the extent
                  that the applicable loans and commitments subject to such yank are permanently repaid and cancelled) or the termination of revolving commitments by Holdings or a Restricted Subsidiary of: (x) the Senior Secured 2025 Notes, (y) Incremental
                  Equivalent Debt and (z) Credit Agreement Refinancing Indebtedness in the form of term loans or revolving loans that is secured on a pari passu basis with the Refinancing Term Loans or Initial
                  Revolving Loans, as applicable and (iv) the amount of all prior voluntary prepayments (with respect to any revolving loans, to the extent accompanied by a permanent reduction in the related revolving commitments), redemptions, debt buy
                  backs (to the extent permanently cancelled in connection therewith), payments utilizing the yank-a-bank provisions (to the extent that the applicable loans and commitments subject to such yank are permanently repaid and cancelled) or the
                  termination of revolving commitments by Holdings or a Restricted Subsidiary of any Indebtedness that is secured on a junior lien basis to the Secured Obligations or is unsecured, to the extent such Indebtedness was originally incurred in
                  reliance on the Starter Amount and (v) an amount equal to all fees, underwriting discounts, premiums (including any original issue discount, payment of call protection or prepayment premiums) and other costs and expenses incurred in
                  connection with the incurrence of amounts set forth in clause (A) above and this clause (B) (provided that the relevant prepayment, redemption, repurchase or commitment reduction under this clause
                  (C) shall not have been funded with proceeds of long-term Indebtedness (other than revolving Indebtedness)) (this Section 2.20(d)(iii)(B), the “Incremental Prepayment Amount”), plus

               

              
                136

                
                  

              

              (C)         (x) in the case of any Incremental Loans or Incremental Commitments that
                  effectively extend the Maturity Date of, or refinance, any Facility, an amount equal to the portion of the Facility to be replaced with (or refinanced by) such Incremental Loans or Incremental Commitments and (y) in the case of any
                  Incremental Loans or Incremental Commitments that effectively replace any Commitment or Loan of Defaulting Lenders, Non-Accepting Lenders and/or Non-Consenting Lenders pursuant to Sections 2.19(b), 2.24(c) and 9.02(d),
                  an amount equal to the portion of the relevant terminated or cancelled Commitment or Loan; plus

               

              (D)          An unlimited amount, so long as in the case of this clause (D) only,

               

              (1)        in the case of Incremental Loans or Incremental Commitments that are
                  secured by a Lien on all or a portion of the Collateral on a basis that is equal in priority to the Liens on the Collateral securing the Refinancing Term Loans and Initial Revolving Loans (but without regard to remedies), so long as the
                  First Lien Net Leverage Ratio (determined on a Pro Forma Basis) does not exceed (I) 3.50:1.00 as of the most recently ended Test Period or, if applicable, determined in accordance with Section 1.08 or (II) at the election of the
                  Borrower to the extent such Incremental Facility is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the First Lien Net Leverage Ratio in effect for the most
                  recently ended Test Period, or where applicable, in accordance with Section 1.08 (in each case under clauses (I) and (II), in the case of an incurrence of Incremental Revolving Commitments, assuming such Incremental Revolving
                  Commitments are fully drawn and calculating the First Lien Net Leverage Ratio without netting the cash proceeds from such Incremental Loans then proposed to be incurred); 

               

              (2)          in the case of Incremental Loans or Incremental Revolving Commitments
                  that are secured by Liens on all or a portion of the Collateral on a basis that is junior in priority to the Liens on the Collateral securing the Refinancing Term Loans and Initial Revolving Loans under this Agreement, the Secured Net
                  Leverage Ratio (determined on a Pro Forma Basis) does not exceed (I) 4.50:1.00 as of the most recently ended Test Period or, if applicable, determined in accordance with Section 1.08 or (II) at the election of the Borrower to the
                  extent such Incremental Facility is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Secured Net Leverage Ratio in effect for the most recently ended Test
                  Period or where applicable, in accordance with Section 1.08 (in each case under clauses (I) and (II), in the case of an incurrence of Incremental Revolving Commitments, assuming such Incremental Revolving Commitments are fully
                  drawn and calculating the Secured Net Leverage Ratio without netting the cash proceeds from such Incremental Loans then proposed to be incurred);

               

              
                137

                
                  

              

              (3)        in the case of Incremental Loans or Incremental Revolving Commitments that
                  are unsecured, either (a) the Total Net Leverage Ratio (determined on a Pro Forma Basis) does not exceed (I) 5.00:1.00 as of the most recently ended Test Period or, if applicable, determined in accordance with Section 1.08 or (II)
                  at the election of the Borrower to the extent such Incremental Facility is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Total Net Leverage Ratio in
                  effect for the most recently ended Test Period or where applicable, in accordance with Section 1.08 or (b) the Cash Interest Coverage Ratio (determined on a Pro Forma Basis) is not less than (I) 2.00 to 1.00 (or if in connection
                  with an acquisition or other Investment permitted under this Agreement 1.75 to 1.00) as of the most recently ended Test Period, or, if applicable, determined in accordance with Section 1.08 or (II) at the election of the Borrower
                  to the extent such Incremental Facility is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Cash Interest Coverage Ratio in effect for the most recently
                  ended Test Period or where applicable, in accordance with Section 1.08 (in each case under clauses (a) and (b), in the case of an incurrence of Incremental Revolving Commitments, assuming such Incremental Revolving Commitments are
                  fully drawn and calculating the Total Net Leverage Ratio without netting the cash proceeds from such Incremental Loans then proposed to be incurred) (this Section 2.20(d)(iii), the “Incremental Cap”);

               

              provided, that (I) Incremental Term Loans and Incremental Revolving Loan Commitments (and any Incremental Equivalent Debt incurred
                in lieu thereof pursuant to Section 6.01(a)(xxiii)) shall be deemed to have been incurred under clause (D) (to the extent compliant therewith) prior to utilization of any available capacity under clauses (A), (B)
                or (C) (II) Incremental Term Loans and Incremental Revolving Loan Commitments (and any Incremental Equivalent Debt incurred in lieu thereof pursuant to Section 6.01(a)(xxiii) may be incurred under both clauses (A),
                (B) and/or (C) above, on the one hand, and clause (D) above, on the other hand, and proceeds from any such incurrences may be utilized in a single transaction by first calculating the incurrence under clause (D)
                above and then calculating the incurrence under clauses (A), (B) and/or (C) above and (III) any amounts incurred under clause (A) shall be reclassified, as the Borrower may elect from time to time, as incurred
                under clause (D) if Holdings satisfies the ratio for clause (D) at such time on a Pro Forma Basis, and if the ratio under clause (D) would be satisfied on a Pro Forma Basis as of the end of any subsequent fiscal
                quarter of Holdings after the initial incurrence of such amounts, such reclassification shall be deemed to have automatically occurred whether or not elected by the Holdings.

               

              
                138

                
                  

              

              (e)          Required Terms. The terms, provisions and
                  documentation of the Incremental Term Loans and Incremental Term Commitments or the Incremental Revolving Loans and Incremental Revolving Loan Commitments, as the case may be, of any Class and any Loan Increase shall be as agreed between
                  the Borrower and the applicable Incremental Lenders, and except as otherwise set forth herein, to the extent not identical to the Refinancing Term Facility or Initial Revolving Facility, as applicable, existing on the Incremental Facility
                  Closing Date, shall either, at the option of the Borrower, (i) reflect market terms and conditions (taken as a whole) at the time of incurrence of such Indebtedness (as determined by the Borrower in good faith) or (ii) be not materially
                  more favorable (when taken as a whole), as reasonably determined by the Borrower, to the Incremental Lenders providing such Incremental Facility than the terms and conditions of the Refinancing Term Facility or Initial Revolving Facility,
                  as applicable, except, in each case under this clause (ii), with respect to (x) covenants and other terms only applicable to periods after the Term Maturity Date for the Refinancing Term Facility or the Revolving Maturity Date for the
                  Initial Revolving Facility, as applicable, or (y) covenants and other terms reasonably satisfactory to the Administrative Agent; provided that to the extent any covenant or term is (I) added for the benefit of the Incremental
                  Lenders of an Incremental Term Facility, such covenant or term will be deemed satisfactory to the Administrative Agent to the extent that such term or covenant is also added, or the features of such term or provision are provided, for the
                  benefit of the Refinancing Term Facility or (II) added for the benefit of Incremental Lenders of an Incremental Revolving Facility, such covenant or term will be deemed satisfactory to the Administrative Agent to the extent that such term
                  or provision is also added, or the features of such term or provision are provided, for the benefit of the Initial Revolving Facility; provided that in
                  the case of a Term Loan Increase or a Revolving Commitment Increase, the terms, provisions and documentation of such Term Loan Increase or a Revolving Commitment Increase shall be identical (other than with respect to upfront fees, OID or
                  similar fees, it being understood that, if required to consummate such Loan Increase transaction, the interest rate margins and rate floors may be increased, any call protection provision may be made more favorable to the applicable
                  existing Lenders and additional upfront or similar fees may be payable to the lenders providing the Loan Increase) to the applicable Term Loans or Revolving Commitments being increased, in each case, as existing on the Incremental
                  Facility Closing Date (provided that, if such Incremental Term Loans are to be “fungible” with the Closing Date Term Loans, notwithstanding any other conditions specified in this Section
                    2.20(e), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower and the Administrative Agent to ensure that such Incremental Term Loans
                  will be “fungible” with the Refinancing Term Loans). In any event:

               

              (i)           the Incremental Term Loans and Incremental Term Commitments:

               

              (A)         shall not be guaranteed by any Person other than any Loan Party unless
                  such guarantee is provided for the benefit of the Lenders,

               

              (B)          (i) shall rank equal in right of payment with the Refinancing Term Loans
                  and (ii) shall either (x) rank equal (but without regard to the control of remedies) or junior in priority of right of security with the Refinancing Term Loans (subject to the applicable Intercreditor Agreement) or (y) be unsecured, in
                  each case, as applicable pursuant to Section 2.20(d)(iii)(D) above,

               

              (C)          shall not mature earlier than the Term Maturity Date for the Refinancing
                  Term Loans (other than in a principal amount not to exceed the Maturity Limitation Excluded Amount); provided that the requirements set forth in this clause (B) shall not apply to any Incremental Term Loans consisting of a
                  customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted satisfies the requirements set forth in this clause (C);

               

              
                139

                
                  

              

              (D)          shall have a Weighted Average Life to Maturity not shorter than the
                  remaining Weighted Average Life to Maturity of the Refinancing Term Loans; provided that the requirements set forth in this clause (D) shall not apply to (x) any Maturity Limitation Excluded Amount and (y) any Incremental Term Loans
                  consisting of a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted satisfies the requirements set forth in this clause (D);

               

              (E)          subject to clause (D) above and Section 2.20(e)(iii),
                  shall have amortization and an Applicable Rate determined by the Borrower and the applicable Incremental Term Lenders; and

               

              (F)        may participate on a pro rata basis or less than pro rata basis (but not
                  on a greater than pro rata basis) in any mandatory prepayments of the Refinancing Term Loans hereunder, as specified in the applicable Incremental Facility Amendment; provided that voluntary prepayments may be made on a non pro
                  rata basis.

               

              (ii)          Incremental Revolving Loan and Incremental Revolving Commitments.

               

              (A)          shall not be guaranteed by any Person other than any Loan Party unless
                  such guarantee is provided for the benefit of the Lenders,

               

              (B)          (i) shall rank equal in right of payment with the Initial Revolving
                  Loans and (ii) shall either (x) rank equal (but without regard to the control of remedies) or junior in priority of right of security with the Initial Revolving Loans (subject to the applicable Intercreditor Agreement) or (y) be
                  unsecured, in each case, as applicable pursuant to Section 2.20(d)(iii)(D) above,

               

              (C)         shall not mature earlier than the Revolving Maturity Date for the Initial
                  Revolving Loans (other than in a principal amount not to exceed the Maturity Limitation Excluded Amount) and shall not be subject to amortization;

               

              (D)       shall provide that the borrowing and repayment (except for (1) payments of
                  interest and fees at different rates on Incremental Revolving Commitments (and related outstanding Incremental Revolving Loans), (2) repayments required upon the Maturity Date of any Revolving Commitments, (3) repayments made in
                  connection with any refinancing of Revolving Commitments and (4) repayment made in connection with a permanent repayment and termination of Commitments) of Revolving Loans with respect to Incremental Revolving Commitments after the
                  associated Incremental Facility Closing Date shall be made on a pro rata basis with all other outstanding Revolving Commitments existing on such Incremental Facility Closing Date;

               

              
                140

                
                  

              

              (E)         subject to the provisions of Section 2.04 in connection with
                  Letters of Credit which mature or expire after a Maturity Date at any time Incremental Revolving Commitments with a later Maturity Date are outstanding, shall provide that all Letters of Credit shall be participated on a pro rata basis by
                  each Lender with a Revolving Commitment in accordance with its percentage of the Revolving Commitments existing on the Incremental Facility Closing Date (and except as provided in Section 2.04, without giving effect to changes
                  thereto on an earlier Maturity Date with respect to Letters of Credit theretofore incurred or issued);

               

              (F)        shall provide that the permanent repayment of Revolving Loans with respect
                  to, and termination of, Incremental Revolving Commitments after the associated Incremental Facility Closing Date may be made on a pro rata basis or less than a pro rata basis or greater than a pro rata basis, in each case, with all other
                  Revolving Commitments existing on such Incremental Facility Closing Date;

               

              (G)         shall provide that any Incremental Revolving Commitments may constitute a
                  separate Class or Classes, as the case may be, of Commitments from the Classes constituting the applicable Revolving Commitments prior to the Incremental Facility Closing Date; provided at no time shall there be Revolving
                  Commitments hereunder (including Incremental Revolving Commitments and any original Revolving Commitments) which have more than four (4) different Maturity Dates unless otherwise agreed to by the Administrative Agent; and

               

              (H)          shall have an Applicable Rate determined by the Borrower and the
                  applicable Incremental Revolving Lenders.

               

              (iii)       the interest rate and amortization schedule applicable to any Incremental
                  Term Loans will be determined by the Borrower and the lenders providing such Incremental Term Loans; provided that in the event that the Effective Yield with respect to any Incremental Term Loans that satisfy each the MFN
                  Conditions is greater than the Effective Yield for the Refinancing Term Loans by more than 0.75%, the Applicable Rate for the Refinancing Term Loans shall be increased to the extent necessary so that the Effective Yield for the
                  Refinancing Term Loans is equal to the Effective Yield for such Incremental Term Loans minus 0.75% (this clause (iii), the “MFN Adjustment”).

               

              (f)        Incremental Facility Amendment. Commitments in
                  respect of Incremental Term Loans and Incremental Revolving Commitments shall become Commitments, under this Agreement pursuant to an amendment (an “Incremental Facility Amendment”) to this Agreement and, as appropriate, the other
                  Loan Documents, executed by the Borrower, each Incremental Lender providing such Commitments and, without delay, the Administrative Agent. The Incremental Facility Amendment may, without the consent of any other Loan Party, Agent or
                  Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.20
                  and the Lenders expressly authorize the Administrative Agent to enter into every such Incremental Facility Amendment, including any amendments that are not adverse to the interests of any Lender that are made to effectuate changes
                  necessary to enable any Incremental Loans that are intended to be treated as fungible with any Class of outstanding Term Loans to be treated as fungible with such Term Loans, which shall include without limitation (i) any amendments to Section

                    2.10 that do not reduce the ratable amortization received by each Lender thereunder and (ii) any amendments which extend or add “call protection” to any existing Class of Loans, including amendments to Section 2.11(a) or Section

                    2.12(d). The Borrower will use the proceeds of the Incremental Loans for working capital purposes or general corporate purposes, including without limitation, any acquisition, any Investment and any Restricted Payment to the extent
                  not prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Loans, unless it so agrees.

               

              
                141

                
                  

              

              (g)         Each Lender or Additional Lender providing a portion of any Incremental Facility shall
                  execute and deliver to the Administrative Agent and the Borrower all such documentation (including the relevant Incremental Facility Amendment) as may be reasonably required by the Administrative Agent to evidence and effectuate such
                  Incremental Facility.  On the effective date of such Incremental Facility, each Additional Lender shall become a Lender for all purposes in connection with this Agreement.

               

              (h)          This Section 2.20 shall supersede any provisions in Section 2.18 or  Section

                    9.02 to the contrary.

               

              SECTION 2.21     Refinancing Amendments.

               

              (a)          At any time after the Closing Date, the Borrower may obtain, from any Lender or any
                  Additional Lender, Credit Agreement Refinancing Indebtedness in respect of (a) all or any portion of the Term Loans then outstanding under this Agreement (which for purposes of this clause (a) will be deemed to include any then
                  outstanding Other Term Loans or Incremental Term Loans) or (b) all or any portion of the Revolving Loans (or unused Revolving Commitments) under this Agreement (which for purposes of this clause (b) will be deemed to include any
                  then outstanding Other Revolving Loans and Other Revolving Commitments), in the form of (x) Other Term Loans or Other Term Commitments or (y) Other Revolving Loans or Other Revolving Commitments, as the case may be, in each case pursuant
                  to a Refinancing Amendment; provided that such Credit Agreement Refinancing Indebtedness (i) may rank equal in priority in right of payment with the other Loans and Commitments hereunder, (ii) may be unsecured or rank pari passu (without regard to the control of remedies) or junior in right of security to the Refinancing Term Loans or Initial Revolving Loans under this
                  Agreement and, if secured on a junior basis, shall be subject to a Market Intercreditor Agreement, (iii) will have such pricing (including interest, fees and premiums) and optional prepayment (or redemption) terms as may be agreed by the
                  Borrower and the Lenders thereof and (iv) the proceeds of such Credit Agreement Refinancing Indebtedness shall be applied, substantially concurrently with the incurrence thereof, to the prepayment of the Credit Agreement Refinanced
                  Indebtedness.  Each Class of Credit Agreement Refinancing Indebtedness incurred under this Section 2.21 shall be in an aggregate principal amount that is (x) not less than $10,000,000 in the case of Other Term Loans or $10,000,000
                  in the case of Other Revolving Loans and (y) an integral multiple of $1,000,000 in excess thereof.  The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment.  Each of the parties
                  hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Credit Agreement Refinancing
                  Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans, Other Revolving Loans, Other Revolving Commitments and/or Other Term Commitments).  Any
                  Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the
                  Borrower, to effect the provisions of this Section 2.21.

               

              
                142

                
                  

              

              (b)          Notwithstanding anything to the contrary, this Section 2.21 shall supersede any provisions
                  in Section 2.18 or Section 9.02 to the contrary.

               

              SECTION 2.22     Defaulting Lenders.

               

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

               

              (i)         Waivers and Amendments.  Such Defaulting Lender’s right to
                  approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 9.02.

               

              (ii)         Reallocation of Payments.  Subject to the last sentence of Section

                    2.11(g), any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or
                  otherwise, and including any amounts made available to the Administrative Agent by that 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 that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the relevant
                  L/C Issuers; third, if so determined by the Administrative Agent or requested by the relevant L/C Issuer, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Letter of
                  Credit; fourth, as Holdings may request (so long as no Default or Event of Default is continuing), to the funding of any Loan in respect of which that 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, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that
                  Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against that Defaulting Lender
                  as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of
                  a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and either, to that Defaulting Lender or as
                  otherwise directed by a court of competent jurisdiction; provided that if such payment is a payment of the principal amount of any Loans and such Lender is a Defaulting Lender under clause (a) of the definition thereof,
                  such payment shall be applied solely to pay the relevant Loans of the relevant non-Defaulting Lenders on a pro rata basis; provided that if (i) such payment is a payment of the principal amount
                  of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its appropriate share and (ii) such Loans or L/C Borrowings were made 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 L/C Borrowings owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to,
                  that Defaulting Lender.  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section
                    2.22(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. 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 shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

               

              
                143

                
                  

              

              (iii)        Certain Fees. That Defaulting Lender (x) shall not be entitled
                  to receive any commitment fee pursuant to Section 2.12(b) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have
                  been paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.04(i).

               

              (iv)       Reallocation of Pro Rata Share to Reduce Fronting Exposure. During
                  any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.04, the
                  “Applicable Percentage” of each Non-Defaulting Lender’s Revolving Loans and L/C Obligations shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that (i) each such reallocation shall be given
                  effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default has occurred and is continuing; and (ii) such reallocation does not cause the Revolving Exposure of any Non-Defaulting Lender to exceed such
                  Non-Defaulting Lender’s Revolving Commitments

               

              (b)          Defaulting Lender Cure.  If Holdings and the Administrative Agent agree in writing
                  in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to
                  any conditions set forth therein, such Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause
                  the Loans to be held on a pro rata basis by the Lenders in accordance with their applicable percentages of the Commitments in respect thereof, whereupon that Lender will cease to be a Defaulting Lender; provided that no
                  adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided further that except to the extent otherwise
                  expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

               

              
                144

                
                  

              

              SECTION 2.23     Illegality.  If any Lender determines that any law or regulation has made it unlawful or not possible in practice, or that any
                Governmental Authority has asserted that it is unlawful, for any Lender to make, maintain or fund any Loan whose interest is determined by reference to the LIBO Rate or the Adjusted LIBO Rate, to determine or charge interest rates based
                upon the LIBO Rate or the Adjusted LIBO Rate, or to observe or perform such Lender’s obligations under any Loan Document, 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 Holdings through the Administrative Agent, (i) any obligation of such Lender to issue, make, maintain, fund or charge interest with
                respect to any such Loan or continue Eurocurrency Loans or to convert ABR Loans to Eurocurrency Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender’s making or maintaining ABR Loans the interest rate of
                which is determined by reference to the Adjusted LIBO Rate component of the Alternate Base Rate, the interest rate on which ABR Loans or such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
                without reference to the Adjusted LIBO Rate component of the Alternate Base Rate, in each case until such Lender notifies the Administrative Agent and Holdings that the circumstances giving rise to such determination no longer exist.  Upon
                receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, in the case of Loans denominated in Dollars, convert all Eurocurrency Loans of such Lender to
                ABR Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted LIBO Rate component of the Alternate Base Rate), either
                on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Loans, and (y) if
                such notice asserts the illegality of such Lender determining or charging interest rates based upon the LIBO Rate, the Administrative Agent shall, during the period of such suspension, compute the Alternate Base Rate applicable to such
                Lender without reference to the Adjusted LIBO Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the LIBO
                Rate.  Each Lender agrees to notify the Administrative Agent and Holdings in writing promptly upon becoming aware that it is no longer illegal for such Lender to determine or charge interest rates based upon the LIBO Rate or to observe or
                perform such Lender’s obligations under any Loan Document.  Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

               

              SECTION 2.24     Loan Modification Offers.

               

              (a)         At any time after the Closing Date, the Borrower may on one or more occasions, by written
                  notice to the Administrative Agent, make one or more offers (each, a “Loan Modification Offer”) to all the Lenders of one or more Classes (each Class subject to such a Loan Modification Offer, an “Affected Class”) to effect
                  one or more Permitted Amendments relating to such Affected Class pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to Holdings (including mechanics to permit cashless rollovers and exchanges
                  by Lenders).  Such notice shall set forth (i) the terms and conditions of the requested Permitted Amendment and (ii) the date on which such Permitted Amendment is requested to become effective.  Permitted Amendments shall become effective
                  only with respect to the Loans and Commitments of the Lenders of the Affected Class that accept the applicable Loan Modification Offer (such Lenders, the “Accepting Lenders”) and, in the case of any Accepting Lender, only with
                  respect to such Lender’s Loans and Commitments of such Affected Class as to which such Lender’s acceptance has been made.

               

              
                145

                
                  

              

              (b)         A Permitted Amendment shall be effected pursuant to a Loan Modification Agreement executed
                  and delivered by Holdings, the Borrower each applicable Accepting Lender and the Administrative Agent; provided that no Permitted Amendment shall become effective unless Holdings shall have delivered to the Administrative Agent
                  such legal opinions, board resolutions, secretary’s certificates, officer’s certificates and other documents as shall be reasonably requested by the Administrative Agent in connection therewith, in each case substantially in the form
                  delivered on the Closing Date (with appropriate modification thereto to reflect the nature of the Loan Modification Offer).  The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification
                  Agreement.  Each Loan Modification Agreement may, without the consent of any Lender other than the applicable Accepting Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in
                  the opinion of the Administrative Agent, to give effect to the provisions of this Section 2.24, including any amendments necessary to treat the applicable Loans and/or Commitments of the Accepting Lenders as a new “Class” of loans
                  and/or commitments hereunder.

               

              (c)         If, in connection with any proposed Loan Modification Offer, any Lender declines to consent
                  to such Loan Modification Offer on the terms and by the deadline set forth in such Loan Modification Offer (each such Lender, a “Non-Accepting Lender”) then the Borrower may, on notice to the Administrative Agent and the
                  Non-Accepting Lender, (i) replace such Non-Accepting Lender by causing such Lender to (and such Lender shall be obligated to) assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section

                    9.04) all of its interests, rights and obligations under this Agreement in respect of the Loans and Commitments of the Affected Class to one or more Eligible Assignees (which Eligible Assignee may be another Lender, if a Lender
                  accepts such assignment) or (ii) prepay such Non-Accepting Lender; provided that neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a replacement Lender; provided further
                  that (a) the applicable assignee shall have agreed to provide Loans and/or Commitments on the terms set forth in the applicable Permitted Amendment, (b) such Non-Accepting Lender shall have received payment of an amount equal to the
                  outstanding principal of the Loans of the Affected Class assigned by it pursuant to this Section 2.24(c), accrued interest thereon, accrued fees and all other amounts payable to it hereunder from the Eligible Assignee (to the
                  extent of such outstanding principal and accrued interest and fees), (c) unless waived, the Borrower or such Eligible Assignee shall have paid to the Administrative Agent the processing and recordation fee specified in Section 9.04(b)
                  and (d) such Non-Accepting Lender shall be entitled to any prepayment premiums or penalties from the Borrower to the extent a premium or penalty would be due in respect of a prepayment of Term Loans pursuant to Section 2.11.

               

              (d)          Notwithstanding anything to the contrary, this Section 2.24 shall supersede any
                  provisions in Section 2.18 or Section 9.02 to the contrary.

               

              
                146

                
                  

              

              SECTION 2.25     Permitted Debt Exchanges.

               

              (a)         Notwithstanding anything to the contrary contained in this Agreement, pursuant to one or
                  more offers (each, a “Permitted Debt Exchange Offer”) made from time to time by the Borrower to all Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an offering of securities, any Lender that,
                  if requested by Holdings, is unable to certify that it is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an institutional “accredited investor” (as defined in Rule 501 under the Securities
                  Act) or (iii) not a “U.S. person” (as defined in Rule 902 under the Securities Act)) with outstanding Term Loans of a particular Class, the Borrower may from time to time consummate one or more exchanges of such Term Loans for
                  Indebtedness (in the form of senior secured, senior unsecured, senior subordinated or subordinated notes or loans) (such Indebtedness, “Permitted Debt Exchange Notes” and each such exchange, a “Permitted Debt Exchange”), so
                  long as the following conditions are satisfied:

               

              (i)        each such Permitted Debt Exchange Offer shall be made on a pro rata basis
                  to the Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an offering of securities, any Lender that, if requested by Holdings, is unable to certify that it is (i) a “qualified institutional buyer” (as
                  defined in Rule 144A under the Securities Act), (ii) an institutional “accredited investor” (as defined in Rule 501 under the Securities Act) or (iii) not a “U.S. person” (as defined in Rule 902 under the Securities Act)) of each
                  applicable Class based on their respective aggregate principal amounts of outstanding Term Loans under each such Class;

               

              (ii)        the aggregate principal amount (calculated on the face amount thereof) of
                  such Permitted Debt Exchange Notes shall not exceed the aggregate principal amount (calculated on the face amount thereof) of Term Loans so refinanced, except to the extent a different incurrence basket pursuant Section 6.01 is
                  utilized and with respect to an amount equal to any fees, expenses, commissions, underwriting discounts and premiums payable in connection with such Permitted Debt Exchange;

               

              (iii)        other than with respect to an amount not to exceed the Maturity
                  Limitation Excluded Amount, the stated final maturity of such Permitted Debt Exchange Notes is not earlier than the Maturity Date for the Class or Classes of Term Loans being exchanged, and such stated final maturity is not subject to any
                  conditions that could result in such stated final maturity occurring on a date that precedes such latest maturity date (it being understood that acceleration or mandatory repayment, prepayment, redemption or repurchase of such Permitted
                  Debt Exchange Notes upon the occurrence of an event of default, a change in control, an event of loss or an asset disposition shall not be deemed to constitute a change in the stated final maturity thereof);

               

              (iv)         such Permitted Debt Exchange Notes are not required to be repaid,
                  prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case, upon the occurrence of an event of default, a change
                  in control, an event of loss or an asset disposition) prior to the Latest Maturity Date for the Class or Classes of Term Loans being exchanged; provided that, notwithstanding the foregoing, scheduled amortization payments (however
                  denominated, including scheduled offers to repurchase) of such Permitted Debt Exchange Notes shall be permitted so long as (other than with respect to an aggregate principal amount thereof not to exceed the Maturity Limitation Excluded
                  Amount) the Weighted Average Life to Maturity of such Indebtedness shall be not earlier than the remaining Weighted Average Life to Maturity of the Class or Classes of Term Loans being exchanged;

               

              
                147

                
                  

              

              (v)          no Subsidiary is an issuer, a borrower or a guarantor with respect to
                  such Indebtedness unless such Subsidiary is or substantially concurrently becomes a Loan Party;

               

              (vi)        if such Permitted Debt Exchange Notes are secured, such Permitted Debt
                  Exchange Notes are secured on a pari passu basis or junior priority basis to the Obligations and (A) such Permitted Debt Exchange Notes are not secured by any assets not securing the Obligations unless such assets substantially
                  concurrently secure the Obligations and (B) the beneficiaries thereof (or an agent on their behalf) shall become party to the applicable Intercreditor Agreements;

               

              (vii)       the terms and conditions of such Permitted Debt Exchange Notes are not
                  materially more restrictive (when taken as a whole) to Holdings and its Restricted Subsidiaries as the terms and conditions set forth in this Agreement (excluding pricing and optional prepayment or redemption terms or covenants or other
                  provisions applicable only to periods after the Latest Maturity Date of the Class or Classes of Term Loans being exchanged);

               

              (viii)    all Term Loans exchanged under each applicable Class by the Borrower
                  pursuant to any Permitted Debt Exchange shall automatically be cancelled and retired by the Borrower on date of the settlement thereof (and, if requested by the Administrative Agent, any applicable exchanging Lender shall execute and
                  deliver to the Administrative Agent an Assignment and Assumption, or such other form as may be reasonably requested by the Administrative Agent, in respect thereof pursuant to which the respective Lender assigns its interest in the Term
                  Loans being exchanged pursuant to the Permitted Debt Exchange to the Borrower for immediate cancellation), and accrued and unpaid interest on such Term Loans shall be paid to the exchanging Lenders on the date of consummation of such
                  Permitted Debt Exchange, or, if agreed to by the Borrower and the Administrative Agent, the next scheduled Interest Payment Date with respect to such Term Loans (with such interest accruing until the date of consummation of such Permitted
                  Debt Exchange);

               

              (ix)        if the aggregate principal amount of all Term Loans (calculated on the
                  face amount thereof) of a given Class tendered by Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount thereof of
                  the applicable Class actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of such Class offered to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall
                  exchange Term Loans under the relevant Class tendered by such Lenders ratably up to such maximum based on the respective principal amounts so tendered, or, if such Permitted Debt Exchange Offer shall have been made with respect to
                  multiple Classes without specifying a maximum aggregate principal amount offered to be exchanged for each Class, and the aggregate principal amount of all Term Loans (calculated on the face amount thereof) of all Classes tendered by
                  Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount thereof actually held by it) shall exceed the maximum aggregate
                  principal amount of Term Loans of all relevant Classes offered to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall exchange Term Loans across all Classes subject to such Permitted Debt
                  Exchange Offer tendered by such Lenders ratably up to such maximum amount based on the respective principal amounts so tendered;

               

              
                148

                
                  

              

              (x)      all documentation in respect of such Permitted Debt Exchange shall be
                  consistent with the foregoing, and all written communications generally directed to the Lenders in connection therewith shall be in form and substance consistent with the foregoing and made in consultation with Holdings and the
                  Administrative Agent; and

               

              (xi)        any applicable Minimum Tender Condition or Maximum Tender Condition, as
                  the case may be, shall be satisfied or waived by Holdings.

               

              Notwithstanding anything to the contrary herein, no Lender shall have any obligation to agree to have any of its Loans or Commitments exchanged pursuant to any Permitted Debt Exchange Offer.

               

              (b)         With respect to all Permitted Debt Exchanges effected by the Borrower pursuant to this Section

                    2.25, such Permitted Debt Exchange Offer shall be made for not less than $10,000,000 in aggregate principal amount of Term Loans; provided that subject to the foregoing Borrower may at its election specify (A) as a condition
                  to consummating any such Permitted Debt Exchange that a minimum amount (to be determined and specified in the relevant Permitted Debt Exchange Offer in Borrower’s discretion) of Term Loans of any or all applicable Classes be tendered (a “Minimum

                    Tender Condition”) and/or (B) as a condition to consummating any such Permitted Debt Exchange that no more than a maximum amount (to be determined and specified in the relevant Permitted Debt Exchange Offer in Holdings’ discretion)
                  of Term Loans of any or all applicable Classes will be accepted for exchange (a “Maximum Tender Condition”).  The Administrative Agent and the Lenders hereby acknowledge and agree that the provisions of Section 2.11 (other
                  than Section 2.11(a)(i)) and Section 2.20 shall not apply to any Permitted Debt Exchange or the other transactions contemplated by this Section 2.25.

               

              (c)          In connection with each Permitted Debt Exchange, Holdings shall provide the Administrative
                  Agent at least five (5) Business Days’ (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and Borrower and the Administrative Agent, acting reasonably, shall mutually agree to such
                  procedures as may be necessary or advisable to accomplish the purposes of this Section 2.25; provided that the terms of any Permitted Debt Exchange Offer shall provide that the date by which the relevant Lenders are
                  required to indicate their election to participate in such Permitted Debt Exchange shall be not less than five (5) Business Days following the date on which the Permitted Debt Exchange Offer is made.  The Borrower shall provide the final
                  results of such Permitted Debt Exchange to the Administrative Agent no later than three (3) Business Days prior to the proposed date of effectiveness for such Permitted Debt Exchange (or such shorter period agreed to by the Administrative
                  Agent in its sole discretion) and the Administrative Agent shall be entitled to conclusively rely on such results.

               

              
                149

                
                  

              

              (d)          The Borrower shall be responsible for compliance with, and hereby agrees to comply with,
                  all applicable securities and other laws in connection with each Permitted Debt Exchange, it being understood and agreed that (i) neither the Administrative Agent nor any Lender assumes any responsibility in connection with the Borrower’s
                  compliance with such laws in connection with any Permitted Debt Exchange and (ii) each Lender shall be solely responsible for its compliance with any applicable “insider trading” laws and regulations to which such Lender may be subject
                  under the Exchange Act.

               

              Article III

                

              

              REPRESENTATIONS AND WARRANTIES

               

              Each of Holdings and the Borrower represents and warrants to the Lenders that:

               

              SECTION 3.01    Organization; Powers.  Each of Holdings and each Restricted Subsidiary is (a) duly organized or incorporated, validly existing
                and (to the extent such concept exists in the relevant jurisdictions) in good standing under the laws of the jurisdiction of its organization or incorporation, (b) has the corporate or other organizational power and authority to carry on
                its business as now conducted and to execute, deliver and perform its obligations under each Loan Document to which it is a party and (c) is qualified to do business in, and is in good standing in, every jurisdiction where such
                qualification is required, except in the case of clause (a) (other than with respect to the Borrower), clause (b) (other than with respect to Holdings and the Borrower) and clause (c), where the failure to do so,
                individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

               

              SECTION 3.02    Authorization; Enforceability.  This Agreement has been duly authorized, executed and delivered by each of the Loan Parties and
                constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of such Loan Parties, as the case may be, enforceable
                against it in accordance with its terms, subject to (i) Debtor Relief Laws and general principles of equity regardless of whether considered in a proceeding in equity or at law and (ii) the effect of foreign laws, rules and regulations as
                they relate to pledges of Equity Interests in or Indebtedness owed by Foreign Subsidiaries.

              

              

              SECTION 3.03    Governmental Approvals; No Conflicts.  The execution, delivery and performance of the obligations under the Loan Documents (a) do
                not require any material 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 and except for any Perfection
                Requirements, (b) will not violate (i) the Organizational Documents of Holdings or any other Loan Party, or (ii) any Requirements of Law applicable to Holdings or any Restricted Subsidiary, (c) will not violate or result in a default under
                any indenture or other agreement or instrument that constitutes Material Indebtedness binding upon Holdings, the Borrower or any Restricted Subsidiary or their respective assets, or give rise to a right thereunder to require any payment,
                repurchase or redemption to be made by Holdings, the Borrower, any Restricted Subsidiary, or give rise to a right of, or result in, termination, cancellation or acceleration of any obligation thereunder, and (d) will not result in the
                creation or imposition of any Lien on any asset of Holdings or any Restricted Subsidiary, except Liens created under the Loan Documents, except (in the case of each of clauses (a), (b)(ii) and (c)) to the extent that
                the failure to obtain or make such consent, approval, registration, filing or action, or such violation, default or right as the case may be, individually or in the aggregate, could not reasonably be expected to have a Material Adverse
                Effect.

               

              
                150

                
                  

              

              
                SECTION 3.04    Financial Condition; No Material Adverse Effect.

                

                

                (a)         The Audited Financial Statements and Unaudited
                  Financials (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly indicated therein, including the notes thereto, and (ii) fairly present in all material
                  respects the consolidated financial position of Holdings and its consolidated subsidiaries as of the respective dates thereof and the consolidated results of their operations for the respective periods then ended in accordance with GAAP
                  consistently applied during the periods referred to therein, except as otherwise expressly indicated therein, including the notes thereto.

                

                

                (b)         Each Pro Forma Financial Statement (as defined in Section 4.01(m)) has been prepared in good faith, based on assumptions
                  believed by Holdings and the Borrower to be reasonable as of the date of delivery thereof, and present fairly in all material respects the estimated financial position of Holdings and the Restricted Subsidiaries as if the Transactions had
                  occurred as of the relevant date (in the case of any pro forma consolidated balance sheet) or at the beginning of such period (in the case of any pro forma statement of income or operations).

                

                

                (c)          Since December 31, 2020, there has been no Material Adverse Effect.

                

                

                SECTION 3.05   Properties.  (a) Holdings and each Restricted Subsidiary is the sole legal and beneficial owner of and has good title
                  to, or valid leasehold interests in, all its real and personal property material to its business (including the Mortgaged Properties, if any), (i) free and clear of all Liens except for Liens permitted by Section 6.02 and (ii)
                  free of title defects except for defects in title that do not interfere with its ability to conduct its business as currently conducted or as proposed to be conducted or to utilize such properties for their intended purposes, in each
                  case, except as could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

                

                

                (b)          As of the Closing Date, Schedule 3.05 contains a true and complete list of the Material Real Property.

                

                

                SECTION 3.06    Litigation and Environmental Matters.

                

                

                (a)        Except as set forth on Schedule 3.06,
                  (i) there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of Holdings or the Borrower, threatened against or affecting the Borrower or any Restricted
                  Subsidiary that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect and (ii) none of the Borrower or any Subsidiary has treated, stored, transported, released or disposed of Hazardous
                  Materials at or from any currently or formerly owned, leased or operated real property or any other facility relating to its business (including, to the knowledge of the Borrower, any third-party recycling, treatment, storage or disposal
                  facilities) in a manner that could reasonably be expected to have a Material Adverse Effect.

                

                

                
                  151

                  
                    

                

                (b)        Except with respect to any matters that, individually or in the aggregate, could not reasonably be expected to result in a Material
                  Adverse Effect, none of the Borrower or any Restricted Subsidiary (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, to the knowledge of the Borrower, become subject to any Environmental Liability, (iii) has received written notice of any claim with respect to any Environmental Liability or (iv) has, to the knowledge of Holdings or the Borrower,
                  any basis to reasonably expect that Holdings, the Borrower or any Restricted Subsidiary will become subject to any Environmental Liability.

                

                

                SECTION 3.07   Compliance with Laws.  Each of Holdings and each Restricted Subsidiary is in compliance with all Requirements of Law
                  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.

                

                

                SECTION 3.08   Investment Company Status.  None of Holdings, the Borrower or any other Loan Party is an “investment company” as
                  defined in, or subject to regulation under, the Investment Company Act of 1940, as amended from time to time.

                

                

                SECTION 3.09   Taxes.  Except as could not,
                  individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, Holdings and each Restricted Subsidiary (a) have timely filed or caused to be filed all Tax returns required to have been filed and (b) have paid
                  or caused to be paid all Taxes required to have been paid (whether or not shown on a Tax return) including in their capacity as tax withholding agents, except any Taxes  (i) that are not overdue by more than 30 days or (ii) that are being
                  contested in good faith by appropriate proceedings; provided that Holdings, the Borrower or such Restricted Subsidiary, as the case may be, has set aside on its books adequate reserves therefor in accordance with GAAP.  The Borrower is
                  properly treated as a “disregarded entity” owned by a regarded entity that is not a United States person for U.S. federal income tax purposes.

                

                

                SECTION 3.10    ERISA; Foreign Pension Plans.

                

                

                (a)        Except as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan is in
                  compliance with the applicable provisions of ERISA, the Code and other federal or state laws and each Foreign Pension Plan is in compliance with the applicable non-US law.

                

                

                (b)         Except as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, (i) no ERISA
                  Event has occurred or is reasonably expected to occur, (ii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Plan (other than premiums
                  due and not delinquent under Section 4007 of ERISA), (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under
                  Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan and (iv) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could reasonably be
                  expected to be subject to Section 4069 or 4212(c) of ERISA.

                

                

                
                  152

                  
                    

                

                (c)         The present value of the aggregate benefit liabilities under each Plan sponsored, maintained or contributed to by Holdings, its
                  Restricted Subsidiaries or any of their ERISA Affiliates (determined as of the end of the most recent plan year on the basis of the actuarial assumptions specified for funding purposes in the most recent actuarial valuation for such
                  Plan), did not exceed the aggregate current value of the assets of such Plan by an amount, which, if all of such Plans were terminated, would result in a Material Adverse Effect.

                

                

                (d)        As of the Closing Date, Holdings and the Borrower are not and will not be using “plan assets” (within the meaning of 29 CFR §
                  2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments.

                

                

                (e)          Neither Holdings nor any of its Subsidiaries or Affiliates is or has at any time been (i) an employer (for the purposes of sections
                  38 to 51 of the United Kingdom’s Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the United Kingdom’s Pensions Schemes Act 1993) or (ii) “connected” with or an
                  “associate” (as those terms are used in sections 38 and 43 of the United Kingdom’s Pensions Act 2004) of such an employer.

                

                

                SECTION 3.11    Disclosure.  As of the Closing Date, no report, financial
                  statement, certificate or other written information furnished by or on behalf of any Loan Party (other than projected financial information, pro forma financial information and information of a general economic or industry nature) to any
                  Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any other Loan Document (as modified or supplemented by other information so furnished), when taken as a whole,
                  contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein (when taken as a whole), in the light of the circumstances under which they were made, not materially misleading; provided
                  that, with respect to projected and pro forma financial information, Holdings and the Borrower each represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of
                  preparation and delivery; it being understood that actual results may vary from such forecasts and that such variances may be material.

                

                

                SECTION 3.12    Subsidiaries.  As of
                  the Closing Date, Schedule 3.12 sets forth the name of, and the ownership interest of each Subsidiary Guarantor.

                

                

                SECTION 3.13    Intellectual Property; Licenses, Etc.  Except as could not
                  reasonably be expected to have a Material Adverse Effect, each of the Borrower and each Restricted Subsidiary owns, licenses or possesses the right to use all of the rights to Intellectual Property that are reasonably necessary for the
                  operation of its business as currently conducted, and, to the knowledge of the Borrower, without conflict with the rights of any Person.  None of Holdings, the Borrower or any Restricted Subsidiary, in the operation of their businesses as
                  currently conducted, infringes upon any Intellectual Property rights held by any Person except for such infringements, individually or in the aggregate, which could not reasonably be expected to have a Material Adverse Effect.  No claim
                  or litigation regarding any of the Intellectual Property owned by Holdings or any Restricted Subsidiary is pending or, to the knowledge of Holdings or the Borrower, threatened in writing against Holdings or the Borrower or any Restricted
                  Subsidiary, which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

                

                

                
                  153

                  
                    

                

                SECTION 3.14   Solvency.  On the Closing
                  Date, and after giving effect to the Transactions, Holdings and the Restricted Subsidiaries, on a consolidated basis, are Solvent.

                

                

                SECTION 3.15   Federal

                    Reserve Regulations.  No part of the proceeds of the Loans will be used, directly or indirectly, to purchase or carry any margin stock or to refinance any Indebtedness originally incurred for such purpose, or for any other purpose
                  that entails a violation (including on the part of any Lender) of the provisions of Regulations U or X of the Board of Governors.

                

                

                SECTION 3.16   Security Interest in Collateral. 

                  Subject to the provisions of this Agreement (including, without limitation, Section 5.14) and the other relevant Loan Documents, the Collateral Agreements create legal, valid and enforceable Liens on all of the Collateral as
                  security for the Secured Obligations of the Loan Parties, in favor of the Collateral Agent, for the benefit of itself and the other Secured Parties.

                

                

                SECTION 3.17    PATRIOT Act, Sanctions and
                    Anti-Corruption.

                

                

                (a)          Holdings and the Restricted Subsidiaries will not directly or, to the knowledge of Holdings and the
                  Borrower, indirectly, use the proceeds of the Loans or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person, for the purpose of funding, financing, or
                  facilitating any activities or business or transaction  (i)  with any Sanctioned Person, or in any Sanctioned Country, or (ii) in any manner that could reasonably be expected to result in a violation by any Person (including any Person
                  participating in the transaction, whether as underwriter, advisor, investor, lender or otherwise) of Sanctions.

                

                

                (b)         Holdings and the Restricted Subsidiaries will not use the proceeds of the Loans or Letters or Credit
                  directly, or, to the knowledge of Holdings and the Borrower, indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in
                  an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of any Anti-Corruption Law.

                

                

                (c)         Each of Holdings and  the Restricted Subsidiaries is in compliance in all material respects with
                  applicable Sanctions, Title III of the USA Patriot Act, and Anti-Corruption Laws.

                

                

                (d)         Holdings, the Borrower and the Restricted Subsidiaries have, to the knowledge of Holdings and the Borrower, been in compliance in all
                  material respect with Sanctions, Title III of the USA Patriot Act, or Anti-Corruption Laws in the past three years prior to the Closing Date.

                

                

                (e)         (i) None of the Loan Parties is a Sanctioned Person or otherwise the target of Sanctions and (ii) none of the Restricted Subsidiaries
                  that are not Loan Parties, or any director or officer of any Loan Party or Restricted Subsidiary, or to the knowledge of Holdings and the Borrower, any employee or agency of any Loan Party or Restricted Subsidiary, in each case, is a
                  Sanctioned Person.

                

                

                
                  154

                  
                    

                

                SECTION 3.18    Centre of Main Interests and Establishments. For the purpose of the EU Insolvency
                  Regulation:

                

                

                (a)          If the jurisdiction of organization or incorporation of Holdings or any of the Restricted Subsidiaries (other than any Dutch Loan
                  Party) is a member state of the European Union, its COMI is situated in its jurisdiction of organization or incorporation and it has no “establishment” (as that term is used in Article 2(10) of the EU Insolvency Regulation) in any other
                  jurisdiction; and

                

                

                (b)         The COMI of each Dutch Loan Party is situated in the jurisdiction of either its (corporate) seat or its business address and it has
                  no “establishment” (as that term is used in Article 2(10) of the EU Insolvency Regulation) in any other jurisdiction.

                

                

                SECTION 3.19    Dutch Law Representations.

                

                

                (a)        No Dutch Loan Party is or has been a member a fiscal unit (fiscale eenheid) for Dutch
                  corporate income tax or value added tax purposes (other than such fiscal unit comprising solely Loan Parties.

                

                

                (b)          No Loan Party has issued a declaration of joint and several liability as referred to in Section 2:403 of the Dutch Civil Code.

                

                

                SECTION 3.20   Australian Tax. Neither Holdings nor any of its Subsidiaries (i) is a member of an
                  Australian Tax Consolidated Group unless a TSA and a TFA are in full force and effect or (ii) is a member of an Australian GST Group unless an ITSA is in full force and effect.

                

                

                SECTION 3.21    Affected Financial Institution.  No Loan Party is an Affected Financial Institution.

                

                

                Article IV

                

                

                CONDITIONS

                

                

                SECTION 4.01    Closing

                    Date.

                

                

                This Agreement, the Commitments hereunder and the obligation of each Lender to make an Refinancing Term Loan or to make a Credit Conversion on the Closing Date shall not become effective
                  until the date on which each of the following conditions is satisfied (or waived), in each case, as determined by the Administrative Agent:

                

                

                (a)          Loan Party Consent to Amendment. The
                  Existing Administrative Agent and Collateral Agent shall have received from Holdings, the Borrower and the other Loan Parties, either (i) a counterpart of the Amendment signed on behalf of such party or (ii) written evidence satisfactory
                  to the Existing Administrative Agent and Collateral Agent (which may include a copy transmitted by facsimile or other electronic transmission of a signed counterpart of this Agreement) that such party has signed a counterpart to the
                  Amendment.

                

                

                
                  155

                  
                    

                

                (b)         Converting Lenders and New Lender Consent to Amendment. The Existing Administrative Agent and Collateral Agent shall have
                  received from the Participating Lenders (as defined in the Amendment) and the Revolving Lenders, a counterpart of the Amendment on behalf of each such Lender (or written evidence satisfactory to the Existing Administrative Agent and
                  Collateral Agent (which may include facsimile or other electronic transmission of a signed counterpart of this Agreement) that such party has signed a counterpart to the Amendment (which, in the case of the Participating Lenders (as
                  defined in the Amendment) (other than New Term Lenders) may be in the form of a Refinancing Participation Notice)) such that the aggregate principal amount of the Refinancing Term Loans shall equal $1,300,000,000.

                

                

                (c)          Collateral Agreements. HSBC, in its capacity as Administrative Agent, shall have received:

                

                

                (i)          Duly executed copies of the following U.S. Security Documents: The U.S. Security Agreement, the U.S. Pledge
                  Agreement, and the Intellectual Property Security Agreements;

                

                

                (ii)          A duly executed copy of the UK Debenture; and

                

                

                (iii)         The Australian Mining Mortgage Transfer Documentation.

                

                

                (d)        Agency Successor Agreement. HSBC, in its capacity as the Administrative Agent, and the Existing Administrative Agent and
                  Collateral Agent shall have entered into the Agency Successor Agreement, in form and substance reasonably satisfactory to HSBC.

                

                

                (e)        Joinder. HSBC, in its capacity as the Administrative Agent, shall have received a duly executed copy of the Joinder to the
                  Pari Passu Intercreditor Agreement.

                

                

                (f)         Legal Opinions. HSBC, in its capacity as the Administrative Agent, shall have received a written
                  opinion of (i) Ropes & Gray LLP, as special counsel for the Loan Parties, (ii) Minter Ellison Lawyers, Australian counsel for the Administrative Agent, (iii) Loyens & Loeff N.V., Dutch counsel for the Administrative Agent, (iv)
                  Mayer Brown International LLP, English counsel for the Administrative Agent and (v) Bird & Bird, as French counsel for the Loan Parties, in each case dated as of the Closing Date, in form and substance reasonably satisfactory to the
                  Administrative Agent (and each Loan Party hereby instructs such counsel to deliver such opinions to the Agents and Lenders).

                

                

                (g)         Closing Certificate. HSBC, in its capacity as the Administrative Agent shall have received a
                  certificate of the Borrower, dated the Closing Date, substantially in the form of Exhibit G.

                

                

                
                  156

                  
                    

                

                (h)          Secretary’s Certificates. HSBC, in its capacity as the Administrative Agent, shall have received a certificate of each Loan
                  Party, dated the Closing Date, including or attaching a copy of (i) each Organizational Document of each Loan Party, as of a recent date by the applicable Governmental Authority, (ii) signature and incumbency certificates (if applicable)
                  of the Responsible Officers of each Loan Party executing the Loan Documents to which it is a party, (iii) the relevant corporate resolutions (including the resolutions of the Board of Directors) of each Loan Party approving and
                  authorizing the execution, delivery and performance of the Loan Documents to which it is a party, certified as of the Closing Date by a Responsible Officer as being in full force and effect without modification or amendment, (iv) a good
                  standing certificate (to the extent such concept exists) from the applicable Governmental Authority of each Loan Party’s jurisdiction of incorporation, organization or formation, (v) in the case of a UK Loan Party whose shares are the
                  subject of a Lien in favor of the Collateral Agent (i) a certificate of that UK Loan Party certifying that no “warning notice” or “restrictions notice” (in each case as defined in Schedule 1B of the Companies Act 2006) has been issued in
                  respect of those shares, together with a copy of the “PSC register” (within the meaning of section 790C(10) of the Companies Act 2006) of that UK Loan Party, which is certified by a Responsible Officer of that UK Loan Party to be correct,
                  complete and not amended or superseded as at a date no earlier than the date of this Agreement, or (ii) a certificate of that UK Loan Party certifying that such UK Loan Party is not required to comply with Part 21A of the Companies Act
                  2006, (vi) an unconditional positive, written advice from any works council in relation to the transactions contemplated by this Agreement and any other document required for compliance with the Dutch Act on works councils (to the extent
                  applicable) and (vii) in the case of each French Loan Party (A) a certificate of incorporation (k-bis), (B) a true and correct and up-to-date copy of its by-laws (statuts), (C) a non-bankruptcy certificate (certificat de non-faillite) (D)
                  a lien search certificate (état des privilèges et des nantissements) and (E) any board or shareholders’ resolutions authorizing the execution and performance by such French Loan Party of the Guarantee Agreement and/or any accession or
                  amendment relating thereto.

                

                

                (i)          Fees and Expenses. Prior to or substantially concurrently with the funding of the Refinancing
                  Term Loans hereunder, HSBC, in its capacity as Administrative Agent, shall have received (i) all fees required to be paid by the Holdings on the Closing Date, all reasonable and out-of-pocket expenses required to be paid by Holdings and
                  the Restricted Subsidiaries on the Closing Date for which invoices have been presented at least two Business Days prior to the Closing Date (except as otherwise agreed by Holdings), which amounts may be offset against the proceeds of the
                  Loans.

                

                

                (j)           Collateral and Guaranty Requirement.

                

                

                (i)           The Collateral and Guarantee Requirement shall have been satisfied subject to Section 5.17.

                

                

                (ii)         Each document (including any UCC (or similar) financing statement, any financing statement under any Requirement
                  of Law and intellectual property security agreements) required by any Collateral Agreement or under applicable Requirements of Law to be filed, registered or recorded in order to create in favor of or transfer to HSBC as the new
                  Collateral Agent, for the benefit of the Secured Parties, a perfected Lien on the Collateral required to be delivered pursuant to such Collateral Agreement (including, without limitation, all share certificates representing the
                  shareholdings in each Australian Loan Party and UK Loan Party and/or its Subsidiaries, together with signed blank share transfer forms in connection therewith), shall be in proper form for filing, registration or recordation.

                

                

                
                  157

                  
                    

                

                (k)         Prepayment. HSBC, in its capacity as Administrative Agent, shall have received evidence from the Existing Administrative
                  Agent that the Prepayment shall have been made (or substantially concurrently with the effectiveness of this Agreement, will be made).

                

                

                (l)         Payoff. HSBC, in its capacity as Administrative Agent, shall have received payoff letters (and an Australian law deed of
                  release) evidencing repayment in full of all obligations under the Existing Revolving Credit Agreement, termination of all agreements relating thereto and the release of all Liens granted in connection therewith, with Uniform Commercial
                  Code or other appropriate termination statements and documents effective to evidence the foregoing.

                

                

                (m)        Financial Statements. HSBC, in its capacity as Administrative Agent, shall have received (i) the
                  Audited Financial Statements, (ii) the Unaudited Financials, and (iii) a pro forma consolidated balance sheet as of December 30, 2020, and related pro forma statement of income of Holdings for the trailing 12-month period ended December,
                  2020 prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such period (in the case of the statement of income) (the pro forma
                  financial statements described in this clause (i)(iii), the “Pro Forma Financial Statements”); provided, that no Pro Forma Financial Statement shall be required to include adjustments for purchase accounting (including adjustments
                  of the type contemplated by Financial Accounting Standards Board Accounting Standards Codification 805, Business Combinations (formerly SFAS 141R)).

                

                

                (n)         Solvency Certificate. HSBC, in its capacity as Administrative Agent, shall have received a certificate from the chief
                  financial officer (or other officer with reasonably equivalent responsibilities) of Holdings certifying that Holdings and its Subsidiaries on a consolidated basis after giving effect to the Transactions are Solvent.

                

                

                (o)        KYC. HSBC, in its capacity as Administrative Agent, shall have received at least two Business
                  Days prior to the Closing Date all documentation and other information about the Loan Parties that the Administrative Agent and the Joint Bookrunners reasonably determine is required by United States regulatory authorities under
                  applicable “know your customer” and anti-money laundering rules and regulations, including without limitation Title III of the USA Patriot Act, that shall have been reasonably requested by an initial Lender in writing at least five
                  Business Days prior to the Closing Date.

                

                

                (p)          No Material Adverse Effect. Since December 31, 2020, no Material Adverse Effect shall have
                  occurred.

                

                

                (q)          Borrowing Request. HSBC, in its capacity as Administrative Agent, shall have received a Borrowing Request.

                

                

                (r)          Works Council. The Administrative Agent shall have received a copy of (i) the request for
                  advice to the works council (ondernemingsraad) of Tronox Pigments (Holland) B.V which has jurisdiction over the transactions contemplated by the Loan Documents in respect of the transactions contemplated by the Loan Documents (including
                  the pledge of the Equity Interests held by Tronox Investments Holdings Limited in Tronox Pigments (Holland) B.V. and the conditional transfer of voting rights as contemplated therein) and (ii) the unconditional positive advice from such
                  works council in respect of the transactions contemplated by the Loan Documents (including the pledge of the Equity Interests held by Tronox Investments Holdings Limited in Tronox Pigments (Holland) B.V. and the conditional transfer of
                  voting rights as contemplated therein).

                

                

                
                  158

                  
                    

                

                (s)         Organizational Structure. The organizational structure and capital structure of Holdings and its Subsidiaries shall be as set
                  forth on Schedule 4.01.

                

                

                (t)           Agency Fee Letter. The Administrative Agent shall have received the Agency Fee Letter.

                

                

                (u)         Lien Searches. HSBC, in its capacity as Administrative Agent, shall have received copies of recent lien and judgment search
                  reports in the United States and all the Qualified Jurisdictions (if applicable) reasonably requested by HSBC.

                

                

                (v)        Insurance Certificates and Endorsements. Subject to Section 5.17, HSBC, in its capacity as Administrative Agent, shall
                  have received certificates or other evidence of insurance in effect as required by Section 5.09(a), with endorsements naming the Administrative Agent as lenders’ loss payee and/or additional insured, as applicable.

                

                

                Without limiting the generality of the provisions of Section 9.02, for purposes of determining compliance with the conditions specified in this Section 4.01 on the Closing
                  Date, each Lender that has signed a Refinancing Participation Notice to the Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to
                  or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

                

                

                SECTION 4.02  Each Credit Event.  The obligation of each Lender to make a Loan or each L/C Issuer to make a L/C Credit Extension on
                  any on the occasion of any Credit Extension is subject to receipt of the request therefor in accordance herewith and to the satisfaction (or waiver) of the following conditions; provided that, the following conditions shall not apply to
                  (i) any Borrowings under any Incremental Facility, the conditions of which are set forth in Section 2.20 and (ii) any extensions of credit or Borrowings under Section 2.21 or 2.24:

                

                

                (a)         The representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material
                  respects on and as of the date of such Borrowing; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such
                  earlier date; provided further that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct in all respects on the date of such credit
                  extension or on such earlier date, as the case may be;

                

                

                (b)        At the time of and immediately after giving effect to such Credit Extension, no Default or Event of Default shall have occurred and be
                  continuing.  Each Borrowing (provided that a conversion or a continuation of a Borrowing shall not constitute a “Borrowing” for purposes of this Section) shall be deemed to constitute a representation and warranty by the Borrower
                  on the date of the applicable Borrowing as to the matters specified in clauses (a) and (b) of this Section;

                

                

                (c)         After making the Credit Extensions requested on such date, the Total Utilization of Revolving Commitments shall not exceed the
                  Revolving Commitments then in effect.

                 

                

                
                  159

                  
                    

                

                Article V

                

                

                AFFIRMATIVE COVENANTS

                

                

                Until the Termination Date shall have occurred, each of Holdings and the Borrower covenants and agrees with the Lenders that:

                

                

                SECTION 5.01   Financial Statements and Other Information.  Holdings will furnish to
                  the Administrative Agent, on behalf of each Lender:

                

                

                (a)         commencing with the financial statements for the fiscal year ending December 31, 2021, as soon as
                  available, but in any event within 90 days after the end of each fiscal year of Holdings and its consolidated Subsidiaries, audited consolidated balance sheets and related audited consolidated statements of income, stockholders’ equity
                  and cash flows of Holdings and its consolidated Subsidiaries as of the end of and for such year, and related notes and related explanations thereto, setting forth in each case in comparative form the figures for the previous fiscal year
                  (it being understood that all of the foregoing information may be furnished in the form of a Form 10-K and only the information required by such Form 10-K shall be required by this Section 5.01(a)), all reported on by Ernst &
                  Young LLP, PricewaterhouseCoopers LLP, Deloitte LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the
                  scope of such audit (other than any exception, explanatory paragraph or qualification, that is expressly solely with respect to, or expressly resulting solely from, (A) an upcoming maturity date of the Term Facility, Revolving Facility or
                  any other Indebtedness occurring within one year from the time such opinion is delivered or (B) any potential inability to satisfy the Financial Covenant or any other financial covenant on a future date or in a future period)) to the
                  effect that such consolidated financial statements present fairly in all material respects the consolidated financial position and consolidated results of operations and cash flows of Holdings and its consolidated Subsidiaries as of the
                  end of and for such year on a consolidated basis in accordance with GAAP consistently applied;

                

                

                (b)         commencing with the financial statements for the fiscal quarter ended March 30, 2021, as soon as
                  available, but in any event within 45 days after the end of each the first three (3) quarters of each fiscal year of Holdings after the end of each such fiscal quarter (provided that in any fiscal quarter, unaudited consolidated balance
                  sheets and related consolidated statements of income, stockholders’ equity and cash flows of Holdings and its consolidated Subsidiaries and related explanations as of the end of and for such fiscal quarter (except in the case of cash
                  flows) and the then elapsed portion of the fiscal year, and setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheets, as of the end of) the previous
                  fiscal year, all certified by a Financial Officer as presenting fairly in all material respects the consolidated financial position and consolidated results of operations and cash flows of Holdings and

                  its consolidated Subsidiaries as of the end of and for such fiscal quarter (except in the case of cash flows) and such portion of the fiscal year on a consolidated basis in accordance with GAAP consistently applied, subject to normal
                  year-end audit adjustments and the absence of footnotes (it being understood that all of the foregoing information may be furnished in the form of a Form 10-Q and only the information required by such Form 10-Q shall be required by this Section

                    5.01(b));

                

                

                
                  160

                  
                    

                

                (c)         for any period in which a Subsidiary has been designated as an Unrestricted Subsidiary, simultaneously with the delivery of the
                  financial statements referred to in clauses (a) and (b) above for such period, supplemental financial information necessary to eliminate the accounts of Unrestricted Subsidiaries from such consolidated financial
                  statements;

                

                

                (d)        not later than ten Business Days after any delivery of financial statements under clause (a) or clause

                    (b), a Compliance Certificate of a Financial Officer:

                

                

                (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 to show Consolidated EBITDA for the period then ended,

                

                

                (iii)        setting forth reasonably detailed calculations in the case of financial statements delivered under clause (a)
                  above, beginning with the financial statements for the fiscal year of Holdings ending December 31, 2022, of Excess Cash Flow for such fiscal year,

                

                

                (iv)        setting forth (a) a calculation of the First Lien Net Leverage Ratio as of the last day of the most recently ended
                  Test Period, (b) if on the last day of any Test Period (commencing with the Test Period ending June 30, 2021) there are outstanding Revolving Loans and Letters of Credit (excluding (x) undrawn Letters of Credit, (y) Letters of Credit
                  (whether drawn or undrawn) to the extent reimbursed, Cash Collateralized or backstopped on terms reasonably acceptable to the applicable L/C Issuer Bank and (z) solely for the first two full fiscal quarters ending after the Closing Date,
                  any Closing Date Revolving Borrowings drawn to finance the payment of Transaction Expenses) in an aggregate principal amount exceeding 35% of the aggregate principal amount of all Revolving Commitments under all outstanding Revolving
                  Facilities (including any Incremental Revolving Facilities), whether such First Lien Net Leverage Ratio as of the last day of the most recently ended Test Period is less than or equal to 4.75 to 1.00 and (c) if the First Lien Net Leverage
                  Ratio as of the last day of the most recently ended Test Period would result in a change in the applicable “Pricing Level” as set forth in the definition of “Applicable Rate,” setting forth a calculation of such First Lien Net Leverage
                  Ratio, and

                

                

                (v)        in the case of financial statements delivered under clause (a) or clause (b) above, setting forth a
                  reasonably detailed calculation of the Net Proceeds received during the applicable period by or on behalf of the Borrower or any Subsidiary in respect of any event described in clause (a) of the definition of the term “Prepayment
                  Event” and the portion of such Net Proceeds that has been invested or is intended to be reinvested in accordance with the first proviso in Section 2.11(b);

                

                

                
                  161

                  
                    

                

                (e)        not later than 90 days after the commencement of each fiscal year of Holdings, a detailed consolidated budget for Holdings and its
                  Restricted Subsidiaries for such fiscal year in a form customarily prepared by Holdings.

                

                

                (f)        promptly following any request therefor, such other information (which may be in the form of an officer’s certificate) regarding the
                  operations, business affairs and financial condition of Holdings or any Restricted Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent on its own behalf or on behalf of any Lender may reasonably
                  request in writing.

                

                

                Documents required to be delivered pursuant to Section 5.01 may be delivered electronically and if so delivered, shall be deemed to have been delivered on the earlier of the date
                  (A) on which Holdings posts such documents, or provides a link thereto, on Holdings or one of its Affiliates’ website on the Internet or (B) on which such documents are posted on Holdings’ behalf on IntraLinks/IntraAgency or another
                  website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that:  (i) Holdings shall deliver such documents
                  to the Administrative Agent upon its reasonable request until a written notice to cease delivering such documents is given by the Administrative Agent and (ii) Holdings shall notify the Administrative Agent (by telecopier or electronic
                  mail) of the posting of any such documents and upon its reasonable request, provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.  The Administrative Agent shall have no
                  obligation to request the delivery of or maintain paper copies of the documents referred to above, and each Lender shall be solely responsible for timely accessing posted documents and maintaining its copies of such documents.

                

                

                Holdings and the Borrower hereby acknowledge that (a) the Administrative Agent and/or the Joint Bookrunners will make available to the Lenders materials and/or information provided by or
                  on behalf of the Holdings or Borrower hereunder (collectively, “Company Materials”) by posting the Company Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a
                  “Public Lender”) may have personnel who do not wish to receive material nonpublic information with respect to Holdings, the Borrower or their respective Affiliates, or the respective securities of any of the foregoing, and who may
                  be engaged in investment and other market-related activities with respect to such Persons’ securities.  Each of Holdings and the Borrower hereby agrees that it will, upon the Administrative Agent’s reasonable request, identify that
                  portion of the Company Materials that may be distributed to the Public Lenders and that (i) all such Company Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
                  prominently on the first page thereof; (ii) by marking Company Materials “PUBLIC,” Holdings and the Borrower shall be deemed to have authorized the Administrative Agent, the Joint Bookrunners and the Lenders to treat such Company
                  Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect to Holdings, the Borrower or their respective Affiliates or their respective securities for purposes of United
                  States federal and state securities laws (provided, however, that to the extent such Company Materials constitute Information, they shall be treated as set forth in Section 9.12); (iii) all Company Materials marked
                  “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information”; and (iv) the Administrative Agent and the Joint Bookrunners shall be entitled to treat any Company Materials that are not
                  marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”

                

                

                
                  162

                  
                    

                

                Notwithstanding anything to the contrary in this Article V, none of Holdings or any of its Restricted Subsidiaries will be required to disclose, permit the inspection, examination
                  or making copies or abstracts of, or discussion of, any document, information or other matter pursuant to this Article V that (i) constitutes non-financial trade secrets or non-financial proprietary information, (ii) in respect of
                  which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by law or any binding confidentiality agreement or (iii) is subject to attorney-client or similar privilege or
                  constitutes attorney work product.

                

                

                Holdings may satisfy its obligations in this Section 5.01 with respect to financial information relating to Holdings by furnishing financial and other information relating to any
                  direct or indirect Parent Entity of Holdings as may exist at any time in the future (any such entity the “Future Parent Entity”) instead of Holdings; provided that to the extent either (x)
                  such Future Parent Entity holds assets (other than its direct or indirect interest in Holdings) that exceed 2.5% of the assets of Holdings and its Subsidiaries as of such fiscal period end or (y) such Future Parent Entity has revenues
                  (other than revenue of Holdings and its Subsidiaries) that exceed 2.5% of the total revenue of Holdings and its Subsidiaries for the immediately preceding fiscal period, then such information related to such Future Parent Entity shall be
                  accompanied by consolidating information that explains in reasonable detail the differences between the information of such Future Parent Entity, on the one hand, and the information relating to Holdings and its Subsidiaries on a
                  stand-alone basis, on the other hand.

                

                

                SECTION 5.02  Notices of Material Events.  Promptly after any Responsible
                  Officer of any Holdings obtains actual knowledge thereof, Holdings will furnish to the Administrative Agent (for distribution to each Lender through the Administrative Agent) written notice of the following:

                

                

                (a)          the occurrence of any Default; and

                

                

                (b)         (1) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or, to
                  the knowledge of a Financial Officer or another senior executive officer of Holdings or the Borrower, affecting Holdings, the Borrower or any of the Restricted Subsidiaries or (2) the receipt of a written notice of an Environmental
                  Liability or the occurrence of an ERISA Event, in each case that could reasonably be expected to result in a Material Adverse Effect.

                

                

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

                

                

                
                  163

                  
                    

                

                SECTION 5.03   Information Regarding Collateral. Holdings will furnish to
                  the Administrative Agent promptly after the occurrence thereof (and in any event within 60 days or such longer period as reasonably agreed to by the Administrative Agent) written notice of any change (i) in any U.S. Loan Party’s legal
                  name (as set forth in its certificate of organization or like document), (ii) in the jurisdiction of incorporation or organization or the location of the chief executive office of any Loan Party or in the form of its organization or (iii)
                  in any Loan Party’s organizational identification number to the extent that such Loan Party is organized or owns Mortgaged Property or Mining Property or any other property required to be subject to a Mortgage in a jurisdiction where an
                  organizational identification number is required to be included in a UCC financing statement or a financing statement under any Requirement of Law for such jurisdiction.

                

                

                SECTION 5.04    Existence;

                    Conduct of Business.  Each of Holdings and the Borrower will, and will cause each Restricted Subsidiary to, do or cause to be done all things necessary to obtain, preserve, renew and keep in full force and effect its legal existence
                  and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business, in each case (other than the preservation of the existence of Holdings and the Borrower)
                  to the extent that the failure to do so could reasonably be expected to have a Material Adverse Effect, provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section

                    6.03 or 6.06 or any Disposition permitted by Section 6.05.

                

                

                SECTION 5.05   Payment of Taxes, Etc.  Each
                  of Holdings and the Borrower will, and will cause each Restricted Subsidiary to, pay its obligations in respect of Taxes before the same shall become delinquent or in default, except (a) where the failure to make payment could not
                  reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, or (b) Taxes that are being contested in good faith by appropriate proceedings for which adequate reserves have been made in accordance with
                  GAAP.  The Borrower will continue to be properly treated as a “disregarded entity” owned by a regarded entity that is not a United States person for U.S. federal income tax purposes.

                

                

                SECTION 5.06  Other Information. Promptly upon their becoming available, Holdings will furnish to the Administrative Agent copies of
                  (i) all financial statements, reports, notices and proxy statements sent or made available generally by any Holding Company, the Borrower or any Significant Subsidiary to its security holders or bondholders acting in such capacity, (ii)
                  all regular and periodic reports and all registration statements and prospectuses, if any, filed by any Loan Party with any securities exchange or with the SEC, ASIC or any other Governmental Authority, (iii) all press releases and other
                  statements made available generally by any Holding Company or any of their Significant Subsidiaries to the public concerning material developments in the business of any Holding Company or any of their Significant Subsidiaries, and (iv)
                  such other information and data with respect to Holdings or any of its Restricted Subsidiaries as from time to time may be reasonably requested by the Administrative Agent.

                

                

                SECTION 5.07    [Reserved].

                

                

                
                  164

                  
                    

                

                SECTION 5.08  Maintenance of Properties.  Holdings will, and will cause
                  each Restricted Subsidiary to, keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so could not reasonably be expected
                  to have, individually or in the aggregate, a Material Adverse Effect. In the event of the presence of any Hazardous Material on any real property of Holdings or any Subsidiary which is in violation of Environmental Laws, Holdings and its
                  Subsidiaries, upon discovery thereof, shall take all reasonable and necessary steps to initiate and expeditiously complete all response, corrective and other action required under Environmental Laws or by a Governmental Authority to
                  mitigate and eliminate any such violation or potential liability, and shall keep the Administrative Agent informed of their actions and the results of such actions as the Administrative Agent shall reasonably request, except where the
                  failure to do so could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

                

                

                SECTION 5.09    Insurance. (a) Holdings will
                  maintain or cause to be maintained, with financially sound and reputable insurers, such public liability insurance, third party property damage insurance, business interruption insurance and casualty insurance with respect to liabilities,
                  losses or damage in respect of the assets, properties and businesses of Holdings and its Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged in similar
                  businesses, in each case in such amounts (giving effect to self-insurance which Holdings believes (in the good faith judgment of management of Holdings) is reasonable and prudent in light of the size and nature of its business) and
                  against at least such risks (and with such risk retentions) as Holdings believes (in the good faith judgment of the management of Holdings) are reasonable and prudent in light of the size and nature of its business; and will furnish to
                  the Lenders, upon written request from the Administrative Agent, information presented in reasonable detail as to the insurance carried,  with such deductibles, covering such risks and otherwise on such terms and conditions as shall be
                  customary for such Persons. Without limiting the generality of the foregoing, Holdings will maintain or cause to be maintained replacement value casualty insurance on the Collateral under such policies of insurance, with such insurance
                  companies, in such amounts, with such deductibles, and covering such risks as are at all times carried or maintained under similar circumstance by Persons of established reputation engaged in similar businesses. Each such policy of
                  insurance shall (i) name the Collateral Agent, on behalf of the Secured Parties, as an additional insured thereunder as its interests may appear, and (ii) in the case of each casualty insurance policy, contain a loss payable clause or
                  endorsement, satisfactory in from and substance to Collateral Agent, that names the Collateral Agent, on behalf of the Secured Parties, as the loss payee thereunder. Holdings shall provide or shall cause to be provided at least thirty
                  days’ prior written notice to Collateral Agent of any modification adverse the interests of the Lenders hereunder or cancellation of such policy.

                

                

                (b) If any portion of any Mortgage Property is at any time located in a Flood Zone with respect to which flood insurance has been made available under the Flood Program, Holdings shall,
                  or shall cause the relevant Loan Party to, (i) maintain or cause to be maintained, flood insurance sufficient to comply with all applicable requirements promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the
                  Administrative Agent Evidence of Flood Insurance with respect to such Mortgaged Property.

                

                

                
                  165

                  
                    

                

                SECTION 5.10  Books and Records; Inspection and
                    Audit Rights.  Holdings will, and will cause each Restricted Subsidiary to, maintain proper books of record and account in which entries that are full, true and correct in all material respects and are in conformity with GAAP (or
                  applicable local standards) consistently applied shall be made of all material financial transactions and matters involving the assets and business of Holdings or the Restricted Subsidiaries, as the case may be.  Holdings will, and will
                  cause the Restricted Subsidiaries to, permit any representatives designated by the Administrative Agent, 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; provided that, only the Administrative Agent on behalf of the Lenders
                  may exercise visitation and inspection rights of the Administrative Agent and the Lenders under this Section 5.10 and the Administrative Agent shall not exercise such rights more often than one time during any calendar year absent
                  the existence of an Event of Default, which visitation and inspection shall be at the reasonable expense of Holdings; provided, further that (a) when an Event of Default exists and is continuing, the Administrative Agent (or any of its
                  representatives or independent contractors) may do any of the foregoing at the expense of Holdings at any time during normal business hours and upon reasonable advance notice and (b) the Administrative Agent shall give Holdings the
                  opportunity to participate in any discussions with Holdings’ independent public accountants.

                

                

                SECTION 5.11  Compliance with Laws.  Holdings will, and will cause each
                  Subsidiary to, (x) comply with its Organizational Documents and all Requirements of Law (including Environmental Laws, ERISA, Anti-Corruption Laws, OFAC, the USA Patriot Act and other anti-terrorism laws) applicable to it or its property,
                  in each case,  except where the failure to do so (other than compliance with Anti-Corruption Laws, OFAC, the USA Patriot Act and other applicable anti-terrorism laws), individually or in the aggregate, would not reasonably be expected to
                  result in a Material Adverse Effect and (y) maintain in effect and enforce policies and procedures as in effect on the Closing Date and designed to ensure compliance by Holdings and each Subsidiary and their respective directors,
                  officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.

                

                

                SECTION 5.12    Use of Proceeds.

                

                

                (a)          The Borrower will use the proceeds of the Refinancing Term Loans made or converted on the Closing Date to refinance the Existing
                  Dollar Term Loans.

                

                

                (b)         The proceeds of the Initial Revolving Loans will be used (1) on the Closing Date (i) to fund Transaction Costs, (ii) refinance the
                  obligations under the Existing Revolving Credit Agreement and pay accrued interest and fees outstanding as of the Closing Date under the Existing Revolving Credit Agreement and (iii) to finance ordinary course working capital needs, and
                  (2) after the Closing Date, for any purpose not prohibited by this Agreement, including for working capital and general corporate purposes (including Permitted Acquisitions). Letters of Credit may be issued on the Closing Date to backstop
                  or replace letters of credit, bankers guarantees and performance and similar bonds outstanding on the Closing Date (including by “grandfathering” such existing letters of credit or bankers guarantees in the Revolving Facility) or for
                  other general corporate purposes.

                

                

                
                  166

                  
                    

                

                (c)         The Borrower will use the proceeds of (i) any Incremental Term Loans for working capital and/or general corporate purposes, Permitted
                  Acquisitions and other Investments, Restricted Payments or such other purpose or purposes set forth in the applicable Incremental Facility Amendment and (ii) any Incremental Revolving Loans for working capital and/or general corporate
                  purposes or such other purpose or purposes set forth in the applicable Incremental Facility Amendment.  The Borrower will use the proceeds of any Other Term Loans and Other Revolving Loans for the purposes set forth in Section 2.21(a)
                  and will apply the proceeds of any Credit Agreement Refinancing Indebtedness among the Loans and any Incremental Facilities in accordance with the terms of this Agreement.

                

                

                SECTION 5.13   Additional Subsidiaries.  Subject to the
                  Agreed Security Principles and (in the case of any Restricted Subsidiary formed or acquired after the Closing Date which is or will be an Australian Subsidiary Section 5.28), if any additional Restricted Subsidiary is formed or
                  acquired after the Closing Date, Holdings will, within 90 days (or, in each case, such longer period as the Administrative Agent shall reasonably agree) after such newly formed or acquired Restricted Subsidiary is formed or acquired
                  (unless such Subsidiary is an Excluded Subsidiary and not otherwise required under the Loan Documents to become a Loan Party), notify the Administrative Agent thereof, and all actions (if any) required to be taken with respect to such
                  newly formed or acquired Subsidiary in order to satisfy the Collateral and Guarantee Requirement shall have been taken with respect to such Subsidiary, the assets of such Subsidiary and with respect to any Equity Interest in or
                  Indebtedness of such Subsidiary owned by or on behalf of any Loan Party within 90 days after such formation or acquisition (or such longer period as the Administrative Agent shall reasonably agree, including in relation to an Australian
                  Restricted Subsidiary); provided that any designation of an Unrestricted Subsidiary as a Restricted Subsidiary or any Restricted Subsidiary ceasing to be an Excluded Subsidiary shall constitute the formation or acquisition of a
                  Restricted Subsidiary for purposes of this Section 5.13.

                

                

                SECTION 5.14    Further Assurances.

                

                

                (a)          Subject to the Agreed Security Principles, each of Holdings and the Borrower will, and will cause each Loan Party to, execute any
                  and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust and other documents),
                  that may be required under any applicable law and that the Administrative Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied at all times, all at the expense
                  of the Loan Parties.

                

                

                (b)         If, after the Closing Date, and subject to the Agreed Security Principles, any material assets (including any Material Real Property)
                  with a Fair Market Value in excess of $20,000,000, are acquired by the Borrower or any other Loan Party or are owned by any Restricted Subsidiary on or after the time it becomes a Loan Party
                  pursuant to Section 5.13 (other than assets constituting Collateral under a Collateral Agreement that become subject to the Lien created by such Collateral Agreement upon acquisition thereof or constituting Excluded Assets),
                  Holdings will promptly notify the Administrative Agent thereof, and, if requested by the Administrative Agent, Holdings will, subject to the Agreed Security Principles, cause such assets to be subjected to a Lien securing the Secured
                  Obligations and will take and cause the other Loan Parties to take, such actions as shall be necessary and reasonably requested by the Administrative Agent and to, subject to the Agreed Security Principles, satisfy the Collateral and
                  Guarantee Requirement.

                

                

                
                  167

                  
                    

                

                (c)         Notwithstanding the foregoing, the Collateral Agent shall not enter into any Mortgage in respect of any improved real property
                  acquired by any U.S. Loan Party after the Closing Date or to be mortgaged in connection with a MIRE Event unless the Collateral Agent has provided to the Lenders (i) if such Mortgaged Property relates to an improved real property not
                  located in a Flood Zone, a completed Flood Certificate with respect to such improved real property from a third-party vendor at least ten (10) Business Days prior to entering into such Mortgage or (ii) if such Mortgaged Property relates
                  to an improved real property located in a Flood Zone, the following documents with respect to such improved real property at least thirty (30) days prior to entering into such Mortgage: (i) a completed Flood Certificate from a third party
                  vendor; (ii) if such improved real property is located in a Flood Zone, (A) a notification to the applicable Loan Parties of that fact and (if applicable) notification to the applicable Loan Parties that flood insurance coverage is not
                  available and (B) evidence of the receipt by the applicable Loan Parties of such notice; and (iii) if required to comply with all applicable requirements promulgated pursuant to the Flood Insurance Laws, Evidence of Flood Insurance; provided
                  that the Collateral Agent may enter into any such Mortgage prior to the notice period specified above if the Collateral Agent shall have received confirmation from each applicable Lender that such Lender has completed any necessary flood
                  insurance due diligence to its reasonable satisfaction.

                

                

                SECTION 5.15   Ratings.  Holdings will use commercially reasonable efforts
                  to cause (a) the Borrower to continuously have a public corporate credit rating from S&P and a public corporate family rating from Moody’s (but not to maintain a specific rating) and (b) the Term Facility to be continuously rated by
                  each of S&P and Moody’s (but not to maintain a specific rating).

                

                

                SECTION 5.16    Lenders Meetings.  If requested by the Administrative Agent, Holdings or the Borrower will hold and participate in
                  one customary conference call each fiscal year for Lenders to discuss financial information of Holdings and its Restricted Subsidiaries. Prior to each such conference call, the Borrower shall notify the Administrative Agent of the time
                  and date of such conference call; provided that if the Borrower holds a conference call open to the public or holders of any public securities to discuss the financial condition and results of operations of Holdings and its
                  Subsidiaries for the most recently ended measurement period for which financial statements have been delivered pursuant to Sections 5.01(a) or 5.01(b) above, such conference call will be deemed to satisfy the requirements
                  of this Section 5.16.

                

                

                SECTION 5.17    Certain Post-Closing Obligations.  As promptly as practicable, and in any event, within the time period after the Closing Date specified in Schedule 5.17
                  or such later date as the Administrative Agent reasonably agrees to in writing, including to reasonably accommodate circumstances unforeseen on the Closing Date, Holdings and the Borrower shall, and Holdings shall cause the other Loan
                  Parties to, deliver the documents or take the actions specified in Schedule 5.17.

                

                

                
                  168

                  
                    

                

                SECTION 5.18  Designation of Subsidiaries. 
                  Holdings or the Borrower may at any time after the Closing Date designate any Restricted Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that immediately before and
                  after giving effect to such designation on a Pro Forma Basis (i) no Event of Default shall have occurred and be continuing and (ii) the Cash Interest Coverage Ratio shall be no less than 2.00:1.00.  The designation of any Restricted
                  Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment by Holdings (or its applicable Restricted Subsidiary) therein at the date of designation in an amount equal to the Fair Market Value of
                  Holdings’ or its Restricted Subsidiary’s (as applicable) investment therein.  The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute (x) the incurrence at the time of designation of any Investment,
                  Indebtedness or Liens of such Subsidiary existing at such time, (y) a return on any Investment by Holdings (or its applicable Restricted Subsidiary) in Unrestricted Subsidiaries pursuant to the preceding sentence in an amount equal to the
                  Fair Market Value at the date of such designation of Holdings or its Subsidiary’s (as applicable) Investment in such Subsidiary, and (z) the formation or acquisition of a Restricted Subsidiary for purposes of Section 5.13.

                

                

                SECTION 5.19    Centre of Main Interests.  For the purpose of the EU
                  Insolvency Regulation, (i) if the jurisdiction of organization or incorporation of Holdings or any Restricted Subsidiary (other than a Dutch Loan Party) is a member state of the European Union, Holdings shall, and shall cause the
                  applicable Restricted Subsidiary(other than a Dutch Loan Party) to, have and maintain its COMI situated in the jurisdiction of its organization or incorporation and have no “establishment” (as that term is used in Article 2(10) of the EU
                  Insolvency Regulation) in any other jurisdiction, and (ii) Holdings shall cause each Dutch Loan Party to, have and maintain its COMI situated in either its current (corporate) seat or its current business address and have no
                  “establishment” (as that term is used in Article 2(10) of the EU Insolvency Regulation) in any other jurisdiction.

                

                

                SECTION 5.20   Change in Nature of Business.  Holdings shall, and shall cause the Restricted
                  Subsidiaries to, engage in a line of business substantially the same as those lines of business conducted by Holdings and the Restricted Subsidiaries on the Closing Date or any business(es) or any other activities that are reasonably
                  similar, ancillary, incidental, complimentary or related to, or a reasonable extension, development or expansion of, the business conducted by Holdings and the Restricted Subsidiaries on the Closing Date.

                

                

                SECTION 5.21   Accounting Changes.  Holdings shall, and shall cause the Restricted Subsidiaries to,
                  maintain their fiscal year as in effect on the Closing Date; provided, however, that Holdings may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to
                  the Administrative Agent, in which case, Holdings and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

                

                

                SECTION 5.22   MIRE Events.  Prior to the occurrence of a MIRE Event, the Borrower shall provide (and shall use commercially
                  reasonable efforts to provide as promptly as reasonably possible prior to such MIRE Event) to the Collateral Agent the following documents in respect of any Mortgaged Property: (a) a completed Flood Certificate from a third party vendor;
                  (b) if such improved real property is located in a Flood Zone, (i) a notification to the applicable Loan Parties of that fact and (if applicable) notification to the applicable Loan Parties that flood insurance coverage is not available
                  and (ii) evidence of the receipt by the applicable Loan Parties of such notice; (c) if required to comply with all applicable requirements promulgated pursuant to the Flood Insurance Laws, Evidence of Flood Insurance and (d) any other
                  customary documentation that may be reasonably requested by the Collateral Agent.

                

                

                
                  169

                  
                    

                

                SECTION 5.23   People with Significant Control Regime. Holdings shall (and shall ensure that each of
                  its Subsidiaries shall) (i) within the relevant timeframe, comply with any notice it receives pursuant to Part 21A of the Companies Act 2006 from any company incorporated in the United Kingdom whose shares are the subject of a Lien in
                  favor of the Collateral Agent and (ii) promptly provide the Administrative Agent with a copy of that notice.

                

                

                SECTION 5.24    Dutch Law Undertakings.

                

                

                (a)         Holdings shall ensure that no Loan Party incorporated under Dutch law shall create or become a member of a fiscal unit (fiscale eenheid) for Dutch corporate income tax or value added tax purposes (other than such fiscal unit consisting solely of Loan Parties).

                

                

                (b)         Holdings shall ensure that no Loan Party incorporated under Dutch law shall issue a declaration of joint and several liability as
                  referred to in Section 2:403 of the Dutch Civil Code.

                

                

                SECTION 5.25   Australian Tax Consolidated Group. 

                  Holdings shall ensure that if any Loan Party is or becomes a member of an Australian Tax Consolidated Group, such Loan Party shall (a) enter into and comply with a TSA and a TFA and ensure that a TSA and a TFA are maintained in full force
                  and effect, (b) not amend the TSA where such variation or amendment may result in it not being a TSA for the purposes of the Australian Tax Act, (c) not amend or vary the TSA or the TFA in a manner that could reasonably be expected to be
                  adverse in any material respect to the Lenders without the Administrative Agent’s prior written consent (it being understood and agreed that any such amendment that (i) does not adversely affect in any material respect a Loan Party’s cash
                  flows or financial condition or its present or prospective tax liabilities or liabilities under the TSA or TFA or (ii) involves the accession of a new member, or release of a former member, of such Australian Tax Consolidated Group, shall
                  be deemed to be not adverse to the Lenders in any material respect) and (d) not cease to be a party to, or replace or terminate, the TSA or TFA, without the Administrative Agent’s prior written consent.

                

                

                SECTION 5.26    Australian GST Group.  Holdings shall ensure that if any Loan Party is or becomes a
                  member of an Australian GST Group, such Loan Party shall (a) enter into and comply with the terms of the ITSA of which it is a party, (b) provide a copy of the ITSA to the Administrative Agent within five
                  Business Days of request, (c) ensure that the ITSA is maintained in full force and effect while the Australian GST Group is in existence, (d) not amend or vary the ITSA in a manner that could reasonably be expected to be adverse  in any
                  material respect to the Lenders without the Administrative Agent’s prior written consent (it being understood and agreed that any such amendment that does not adversely affect in any material respect a Loan Party’s cash flows or financial
                  condition or its present or prospective indirect tax liabilities or liabilities under the ITSA shall be deemed to be not adverse to the Lenders in any material respect), (d) not cease to be a party to, or replace or terminate the ITSA,
                  without the Administrative Agent’s prior written consent, (e) ensure that the ITSA is in the approved form as determined by the Australian Commissioner of Taxation from time to time, (f) ensure that Contribution Amounts are determined on
                  a reasonable basis, and (g) ensure that the representative member of the Australian GST Group provides a copy of the ITSA to the Australian Commissioner of Taxation within 14 days of request or within such other time required by the
                  Australian Commissioner of Taxation.

                

                

                
                  170

                  
                    

                

                SECTION 5.27    Australian PPS Law. Holdings shall ensure that if a Loan Document (or any of the
                  transactions contemplated by any Loan Document) is or contains a security interest under the Australian PPS Law, each Australian Loan Party shall do anything (such as obtaining consents, completing, signing and producing documents and
                  supplying information) which the Administrative Agent or the Collateral Agent considers reasonably necessary for the purposes of (i) ensuring that the security interest is enforceable, perfected and otherwise effective; (ii) enabling the
                  Administrative Agent or the Collateral Agent to apply for any registration, or give any notification, in connection with the security interest so that it has the priority required by the Administrative Agent or the Collateral Agent; and
                  (iii) enabling the Administrative Agent or the Collateral Agent to exercise powers in connection with the security interest. Without limiting any other provision of this Agreement or any other Loan Document, each Australian Loan Party
                  waives its right to receive any verification statement (or notice of any verification statement) in respect of any financing statement or financing change statement relating to any security interest created under this document or any
                  other Loan Document. Notwithstanding any other provision of this document or any other Loan Document, each of the Collateral Agent and the Administrative Agent (i) is not responsible for ensuring that the Australian PPS Law is complied
                  with in relation to the Loan Documents or for ensuring the accuracy, completeness or effectiveness of any registration or perfection, or the priority, of any security interest and (ii) is not liable to any person for any loss arising in
                  relation to the Loan Documents in connection with the Australian PPS Law, the register in respect of the Australian PPS Law, any defect in registration or loss of priority in connection with the Australian PPS Law or for acting on any
                  advice given by legal counsel except to the extent that such loss is a direct result of a breach by it of its obligations under this clause. For the purposes of this clause, the following words and expressions have the same meanings given
                  to them in the Australian PPS Law: “financing change statement”, “financing statement” and “verification statement”, and “PPS Law (Australia)” means the Australian Personal Property Securities Act
                  2009 (Cth) and any amendment made at any time to any other law, by-law or regulation as a consequence of the Australian PPS Law.

                

                

                SECTION 5.28    Australian Financial Assistance and Related Matters

                

                

                (a)         Holdings shall cause each Loan Party to ensure that (i)(x) all board and shareholder resolutions that are required to be passed under
                  the Corporations Act to approve the giving of financial assistance by each Whitewash Australian Entity in connection with the entering into and performance of each of the Loan Documents by each Whitewash Australian Entity are passed; and
                  (y) all duly completed Whitewash Documents in respect of each Whitewash Australian Entity are lodged with ASIC in accordance with the Corporations Act to the extent required, in each case on or prior to the Whitewash Resolution Date and
                  (ii) the Loan Parties shall provide the Administrative Agent with a certified copy of all the Whitewash Documents, together with evidence that all Whitewash Documents have been (to the extent required) lodged with ASIC within the required
                  time periods, promptly upon receiving a request from the Administrative Agent to do so (such request not to be given before the Whitewash Resolution Date).

                

                

                
                  171

                  
                    

                

                (b)         Each Whitewash Australian Entity shall have satisfied the requirements of section 260B of the Corporations Act by the Whitewash
                  Completion Date.

                

                

                Article VI

                

                

                NEGATIVE COVENANTS

                

                

                Until the Termination Date shall have occurred, each of Holdings and the Borrower covenants and agrees with the Lenders that:

                

                

                SECTION 6.01    Indebtedness; Certain Equity Securities.

                

                

                (a)          Holdings will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit to
                  exist any Indebtedness, except:

                

                

                (i)        Indebtedness of Holdings and the Restricted Subsidiaries under the Loan Documents
                  (including any Indebtedness incurred pursuant to Section 2.20, 2.21 or 2.24);

                

                

                (ii)        Indebtedness (A) outstanding on the date hereof; provided that Indebtedness with an outstanding principal amount
                  in excess of $10,000,000 shall only be permitted if set forth on Schedule 6.01 or described in the 10-K filed by Holdings on February 23, 2021 and (B) and any Permitted Refinancing thereof;

                

                

                (iii)      Guarantees by Holdings and the Restricted Subsidiaries in respect of Indebtedness of Holdings or any Restricted
                  Subsidiary otherwise permitted hereunder; provided that (A) such Guarantee is otherwise permitted by Section 6.04 and (B) if the Indebtedness being Guaranteed is subordinated to the Loan Document Obligations, such
                  Guarantee shall be subordinated to the Guarantee of the Loan Document Obligations on terms at least as favorable (as reasonably determined by Holdings) taken as a whole, to the Lenders as those contained in the subordination of such
                  Indebtedness;

                

                

                (iv)     Indebtedness of Holdings or any Restricted Subsidiary owing to Holdings or any Restricted Subsidiary to the extent
                  the corresponding Investment is permitted by Section 6.04;

                

                

                
                  172

                  
                    

                

                (v)         (A) Indebtedness (including Capital Lease Obligations) of Holdings or any Restricted
                  Subsidiary financing the acquisition, construction, repair, replacement, installation or improvement of any property (real or personal, and whether through the direct purchase of property or the Equity Interest of any person owning such
                  property); provided that such Indebtedness is incurred concurrently with or within 270 days after the applicable acquisition, construction, repair, replacement, installation or improvement, and (B) any Permitted Refinancing of any
                  Indebtedness set forth in the immediately preceding subclause (A); provided further that, at the time of any such incurrence of Indebtedness and after giving Pro Forma Effect thereto and to the use of the proceeds thereof,
                  the aggregate principal amount of Indebtedness that is outstanding in reliance on this clause (v) shall not exceed the greater of $200,000,000 and 25.0% of Consolidated EBITDA for the most recently ended Test Period as of such time (plus,
                  in the case of clause (B), an amount equal to the amounts described in clause (a)(i) to the proviso to the definition of Permitted Refinancing);

                

                

                (vi)       Indebtedness in respect of (A) Swap Agreements entered into to hedge or mitigate risks to which Holdings or any
                  Restricted Subsidiary has actual exposure (other than those in respect of shares of capital stock or other Equity Interests of Holdings or any Restricted Subsidiary) 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 Holdings or any Restricted Subsidiary;

                

                

                (vii)       (A) Indebtedness of any Person that becomes a Restricted Subsidiary (or of any Person
                  not previously a Restricted Subsidiary that is merged or consolidated with or into Holdings or any Restricted Subsidiary) after the date hereof as a result of an Acquisition Transaction permitted by this Agreement, or Indebtedness of any
                  Person that is assumed by Holdings or any Restricted Subsidiary in connection with an Acquisition Transaction or similar Investment or an acquisition of assets by Holdings or such Restricted Subsidiary permitted by this Agreement; provided
                  that (1) such Indebtedness is not incurred in contemplation of such Acquisition Transaction or similar Investment or acquisition of assets, (2) other than with respect to a Limited Condition Transaction in which case, compliance with this
                  proviso shall be determined in accordance with Section 1.08(a), before and after giving Pro Forma Effect to the assumption of such Indebtedness and the transactions consummated in connection therewith, no Event of Default
                  shall have occurred and be continuing, (3) such Indebtedness is only the obligation of the Person and/or Person’s Subsidiaries that are acquired or that acquire the relevant assets (unless otherwise permitted by a separate basket), and
                  (4) any Lien on such Indebtedness shall be permitted by Section 6.02(xi) and (B) any Permitted Refinancing of Indebtedness incurred pursuant to the foregoing subclause (A);

                

                

                (viii)       Indebtedness outstanding in respect of Permitted Receivables Financings;

                

                

                (ix)       Indebtedness representing deferred compensation to employees of Holdings (and any
                  direct or indirect Parent Entity) and the Restricted Subsidiaries incurred in the ordinary course of business;

                

                

                (x)       Indebtedness consisting of unsecured promissory notes issued by any Loan Party to current or former officers,
                  managers, consultants, independent contractors, directors and employees or their respective estates, successors, spouses, former spouses, domestic partners, heirs, legatees or distributees to finance the purchase or redemption of Equity
                  Interests of Holdings (or any direct or indirect Parent Entity) permitted by Section 6.08(a);

                

                

                
                  173

                  
                    

                

                (xi)        (A) Indebtedness arising from an agreement providing for indemnification obligations or obligations in respect of
                  purchase price (including earnouts) or other similar adjustments incurred in an Acquisition Transaction or similar Investment permitted by this Agreement, any other Investment or any Disposition, in each case permitted under this
                  Agreement and (B) Indebtedness arising from guaranties, letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments securing the performance pursuant to any such agreement described in clause (A);

                

                

                (xii)      Indebtedness consisting of obligations under deferred compensation or other similar arrangements incurred (A) in
                  the ordinary course of business to current or former directors, officers, employees, members of management, managers and consultants of Holdings (or any direct or indirect Parent Entity) and/or any Restricted Subsidiary and (B) in
                  connection with the Transactions and any Permitted Acquisition or other Investment permitted hereunder;

                

                

                (xiii)     Cash Management Obligations and other Indebtedness in respect of netting services,
                  corporate credit cards, overdraft protections and similar arrangements and Indebtedness arising from the honoring of a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds, in each
                  case in the ordinary course of business;

                

                

                (xiv)      (A) Indebtedness, which may be secured in accordance with Section 6.02, of
                  Holdings or any Restricted Subsidiary and (B) any Permitted Refinancing Indebtedness incurred pursuant to the foregoing subclause (A); provided that at the time of the incurrence thereof and after giving Pro Forma Effect thereto,
                  the aggregate principal amount of Indebtedness outstanding in reliance on this clause (xiv) shall not exceed the greater of $150,000,000 and 20.0% of Consolidated EBITDA for the most recently ended Test Period as of such time
                  (plus, in the case of clause (B), an amount equal to the amounts described in clauses (a)(i) and (a)(ii) to the proviso to the definition of Permitted Refinancing);

                

                

                (xv)      Indebtedness consisting of (A) the financing of insurance premiums or (B) take-or-pay obligations contained in
                  supply agreements, in each case in the ordinary course of business;

                

                

                (xvi)    Indebtedness incurred by Holdings or any Restricted Subsidiary in respect of letters of credit, bank guarantees,
                  bankers’ acceptances, or similar instruments issued or created, or related to obligations or liabilities (other than Indebtedness) incurred in the ordinary course of business, including in respect of workers compensation claims, health,
                  disability or other employee benefits or property, casualty or liability insurance or self-insurance or other reimbursement-type obligations regarding workers compensation claims;

                

                

                (xvii)     obligations in respect of performance, bid, appeal and surety bonds, bankers’
                  acceptance facilities and completion guarantees, leases, government or trade contracts and similar obligations provided by the Borrower or any Restricted Subsidiary or obligations in respect of letters of credit, bank guarantees or
                  similar instruments related thereto, in each case in the ordinary course of business or consistent with past practice;

                

                

                
                  174

                  
                    

                

                (xviii)    Indebtedness comprising obligations in respect of take or pay contracts entered into the ordinary course of
                  business;

                

                

                (xix)     Indebtedness (the Indebtedness incurred pursuant to this Section 6.01(a)(xix), 
                  “Ratio Indebtedness”) of Holdings or any Restricted Subsidiary in an aggregate outstanding amount that shall not cause, after giving effect to the incurrence of such Ratio Indebtedness and the use of proceeds thereof, calculated,
                  as applicable, on a Pro Forma Basis as of the most recently ended Test Period (but excluding from the computation thereof the proceeds of such Indebtedness and assuming that any Ratio Indebtedness in the form of a commitment is fully
                  drawn) and, if applicable, determined in accordance with Section 1.08, (x)  in the case of any Ratio Indebtedness that is secured by a Lien on the Collateral on a pari passu basis with the
                  Refinancing Term Facility and Initial Revolving Facility, the First Lien Net Leverage Ratio (determined on a Pro Forma Basis) does not exceed (I) 3.50:1.00 as of the most recently ended Test Period or, (II) if applicable, at the election
                  of the Borrower to the extent such Ratio Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the First Lien Net Leverage Ratio in effect for the
                  most recently ended Test Period or where applicable, (y) in the case of any Ratio Indebtedness that is secured by a Lien on the Collateral on a basis junior to the Refinancing Term Facility and Initial Revolving Facility, the Secured Net
                  Leverage Ratio does not exceed (I) 4.50:1.00 or, (II) if applicable, at the election of the Borrower to the extent such Ratio Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment
                  permitted under the Loan Documents, the Secured Net Leverage Ratio in effect for the most recently ended Test Period or where applicable, and (z) in the case of any Ratio Indebtedness that is unsecured or secured by a Lien on assets that
                  do not constitute Collateral, either (a) the Total Net Leverage Ratio does not exceed (I) 5.00:1.00 or, (II) if applicable, at the election of the Borrower to the extent such Ratio Indebtedness is incurred in connection with the financing
                  of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Total Net Leverage Ratio in effect for the most recently ended Test Period or (b) the Cash Interest Coverage Ratio is not less than (I) 2.00 to 1.00
                  (or to the extent such Ratio Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, 1.75 to 1.00) or (II) if applicable, at the election of the
                  Borrower to the extent such Ratio Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Cash Interest Coverage Ratio in effect for the most
                  recently ended Test Period; provided that:

                

                

                (A)        Ratio Indebtedness in the form of term facilities shall have a Weighted Average Life to Maturity not shorter than
                  the remaining Weighted Average Life to Maturity of the Refinancing Term Loans; provided that the requirements set forth in this clause (A) shall not apply to (x) any Maturity Limitation Excluded Amount and (y) any Ratio
                  Indebtedness consisting of a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted satisfies the requirements set forth in this clause (A);

                

                

                
                  175

                  
                    

                

                (B)         Ratio Indebtedness in the form of term facilities shall not mature earlier than the Term Maturity Date for the
                  Refinancing Term Loans and Ratio Indebtedness in the form of revolving facilities shall not mature earlier than the Revolving Maturity Date for the Initial Revolving Facility (other than in a principal amount not to exceed the Maturity
                  Limitation Excluded Amount); provided that the requirements set forth in this clause (B) shall not apply to any Ratio Indebtedness consisting of a customary bridge facility, so long as the long-term Indebtedness into which such customary
                  bridge facility is to be converted satisfies the requirements set forth in this clause (B);

                

                

                (C)         to the extent such Indebtedness is secured by any of the Collateral, such Indebtedness shall be subject to a an
                  applicable Intercreditor Agreement;

                

                

                (D)          subject to Section 1.08(a), no Event of Default shall have occurred and be continuing,

                

                

                (E)          Restricted Subsidiaries that are not Loan Parties may incur Ratio Indebtedness only pursuant to clause (z) above,
                  and the aggregate outstanding principal amount of Indebtedness outstanding which is incurred pursuant to this clause (xix) by Restricted Subsidiaries that are not Loan Parties shall not exceed, at the time of incurrence thereof and after
                  giving Pro Forma Effect thereto, the greater of $150,000,000 and 20% of Consolidated EBITDA for the most recently ended Test Period as of such time, and

                

                

                (F)        such Ratio Indebtedness is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations
                  (other than customary offers to repurchase upon a change of control, asset sale or casualty event, and not on a greater than pro rata basis with the Loan Document Obligations) prior to the Maturity Date of the Refinancing Term Loans;
                  provided that the requirements set forth in this clause (F) shall not apply to (x) any Ratio Indebtedness incurred under the Maturity Limitation Excluded Amount and (y) any Ratio Debt incurred under clause (z).

                

                

                (xx)        any Permitted Refinancing of Ratio Indebtedness;

                

                

                (xxi)       Permitted Unsecured Refinancing Debt and any Permitted Refinancing thereof;

                

                

                (xxii)    Permitted First Priority Refinancing Debt and Permitted Second Priority Refinancing Debt, and any Permitted
                  Refinancing thereof;

                

                

                (xxiii)    (A) Indebtedness (the Indebtedness incurred pursuant to this Section
                    6.01(a)(xxiii), “Incremental Equivalent Debt”) of the Borrower or any other Loan Party issued in lieu of Incremental Facilities consisting of secured, subordinated or unsecured bonds, notes, debentures or loans, which, if
                  secured, may be secured either by Liens having equal priority with the Liens on the Collateral securing the Secured Obligations (but without regard to control of remedies) or by Liens having a junior priority relative to the Liens on the
                  Collateral securing the Secured Obligations); provided that:

                

                

                
                  176

                  
                    

                

                (1)         the aggregate principal amount of all such Indebtedness incurred pursuant to this clause shall not exceed at the
                  time of incurrence the Incremental Cap at such time;

                

                

                (2)         Incremental Equivalent Debt in the form of term facilities shall have a Weighted Average Life to Maturity not
                  shorter than the remaining Weighted Average Life to Maturity of the Refinancing Term Loans; provided that the requirements set forth in this clause (2) shall not apply to (x) any Incremental Equivalent Debt incurred utilizing the Maturity
                  Limitation Excluded Amount and (y) any Incremental Equivalent Debt consisting of a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted satisfies the requirements
                  set forth in this clause (2);

                

                

                (3)        Incremental Equivalent Debt in the form of term facilities shall not mature earlier than the Term Maturity Date for
                  the Refinancing Term Loans and Incremental Equivalent Debt in the form of revolving facilities shall not mature earlier than the Revolving Maturity Date for the Initial Resolving Loans (other than in a principal amount not to exceed the
                  Maturity Limitation Excluded Amount); provided that the requirements set forth in this clause (3) shall not apply to any Incremental Equivalent Debt consisting of a customary bridge facility, so long as the long-term Indebtedness into
                  which such customary bridge facility is to be converted satisfies the requirements set forth in this clause (3);

                

                

                (4)        such Incremental Equivalent Debt shall not be guaranteed by any person that does not guarantee the Credit
                  Facilities (unless such guarantee is added for the benefit of the Lenders) or be secured by any assets that are not Collateral for the Facilities (unless such security is added for the benefit of the Lenders);

                

                

                (5)        to the extent such Indebtedness is secured by any of the Collateral, such Indebtedness shall be subject to an
                  applicable Intercreditor Agreement;

                

                

                (6)          subject to Section 1.08(a), no Event of Default shall have occurred and be continuing;

                

                

                (7)        such Incremental Equivalent Debt is not subject to mandatory redemption, repurchase, prepayment or sinking fund
                  obligations (other than customary offers to repurchase upon a change of control, asset sale or casualty event, and not on a greater than pro rata basis with the Loan Document Obligations) prior to the Maturity Date of the Refinancing Term
                  Loans; provided that the requirements set forth in this clause (6) shall not apply to any Incremental Equivalent Debt incurred under the Maturity Limitation Excluded Amount;

                

                

                
                  177

                  
                    

                

                (8)          The terms, provisions and documentation of the Incremental Equivalent Debt shall either, at the option of the
                  Borrower, (i) reflect market terms and conditions (taken as a whole) at the time of incurrence of such Indebtedness (as determined by the Borrower in good faith) or (ii) be not materially more favorable (when taken as a whole), as
                  reasonably determined by the Borrower, to the lenders providing such Incremental Equivalent Debt than the terms and conditions of the Refinancing Term Facility or Initial Revolving Facility, as applicable, except, in each case under this
                  clause (ii), with respect to (x) covenants and other terms only applicable to periods after the Term Maturity Date for the Refinancing Term Facility or the Revolving Maturity Date for the Initial Revolving Facility, as applicable, or (y)
                  covenants and other terms reasonably satisfactory to the Administrative Agent; provided that to the extent any covenant or term is (I) added for the benefit of the lenders providing Incremental Equivalent Debt in the form of a term
                  facility, such covenant or term will be deemed satisfactory to the Administrative Agent to the extent that such term or covenant is also added, or the features of such term or provision are provided, for the benefit of the Refinancing
                  Term Facility or (II) added for the benefit of the lenders providing Incremental Equivalent Debt in the form of a revolving facility, such covenant or term will be deemed satisfactory to the Administrative Agent to the extent that such
                  term or provision is also added, or the features of such term or provision are provided, for the benefit of the Initial Revolving Facility; and

                

                

                (B)         any Permitted Refinancing of Incremental Equivalent Debt incurred pursuant to the foregoing subclause (A)
                  constituting Indebtedness of Holdings or any other Loan Party, which, to the extent refinancing any amount incurred in reliance on any portion of the Incremental Cap that is not calculated in reliance on a ratio, shall utilize such
                  portion of the Incremental Cap (it being understood that any such Permitted Refinancing in respect of such Indebtedness may also include amounts set forth in clause (a)(i) to the proviso to the definition of Permitted Refinancing).

                

                

                (xxiv)     (i) Indebtedness of the Loan Parties incurred under (a) the Senior Secured 2025 Notes
                  in the principal amount not to exceed $500,000,000, (b) the Senior Unsecured 2026 Notes in the principal amount not to exceed $615,000,000, (c) the Senior Unsecured 2025 Notes in the principal amount not to exceed $450,000,000 and (d) the
                  Senior Unsecured 2029 Notes in the principal amount not to exceed $1,075,000,000, in each case, and any Permitted Refinancing thereof; (ii) (a) Indebtedness in the form of term loans incurred under the South African Credit Agreement in an
                  aggregate principal amount not to exceed $115,000,000 (and any Permitted Refinancing thereof) and (b) additional Indebtedness not to exceed $70,000,000 in principal amount under a revolving credit facility pursuant to the South African
                  Credit Agreement (and any Permitted Refinancing thereof); (iii) Indebtedness not to exceed $100,000,000 incurred under the Emirates Revolver and any Permitted Refinancing thereof and (iv) Indebtedness not to exceed $20,000,000 incurred
                  under the SABB Credit Facility and any Permitted Refinancing thereof;

                

                

                (xxv)     (A) Indebtedness of any Restricted Subsidiary that is not a Loan Party (x) in an
                  aggregate principal amount outstanding not to exceed the greater of $175,000,000 and 20.0% of Consolidated EBITDA for the most recently ended Test Period) plus (y) incurred from time to time pursuant to asset based credit facilities or
                  working capital lines of credit in an aggregate principal amount not to exceed the greater of $125,000,000 and 15.0% of Consolidated EBITDA for the most recently ended Test Period so long as in each case such Indebtedness is not secured
                  by assets constituting Collateral and the Loan Parties shall not Guarantee such Indebtedness and (B) any Permitted Refinancing of Indebtedness incurred under the foregoing clause (A)(x) or (A)(y), as applicable, which shall not exceed the
                  amounts set forth in such respective clauses (plus, in the case of this clause (B), an amount equal to the amounts described in clauses (a)(i) and (a)(ii) to the proviso to the definition of Permitted Refinancing);

                

                

                
                  178

                  
                    

                

                (xxvi)     Contribution Indebtedness (and any Permitted Refinancing thereof);

                

                

                (xxvii)    Permitted Debt Exchange Notes and Permitted Refinancings thereof;

                

                

                (xxviii)  Indebtedness in respect of letters of credit not to exceed the greater of $50,000,000 and 5.0% of Consolidated
                  EBITDA for the most recently ended Test Period; and

                

                

                (xxix)    all premiums (if any), interest (including post-petition interest), accretion or amortization of original issue
                  discount, fees, expenses, charges and additional or contingent interest on obligations described in clauses (i) through (xxviii) above.

                

                

                (b)        Holdings will not, nor will it permit any Restricted Subsidiary to, issue any Disqualified Equity Interests, except (x) Disqualified
                  Equity Interests issued to and held by Holdings or any Restricted Subsidiary that is a direct or indirect wholly-owned subsidiary of Holdings and (y) Disqualified Equity Interests issued after the Closing Date; provided that in
                  the case of this clause (y) any such issuance of Disqualified Equity Interests shall be deemed to be an incurrence of Indebtedness and subject to the provisions set forth in Section 6.01(a).

                

                

                Notwithstanding the foregoing or anything to the contrary herein, all Indebtedness incurred under the Loan Documents will be deemed to have been incurred in
                  reliance only on clause (a)(i) of this Section 6.01 and all Indebtedness in respect of Swap Agreements will be deemed to have been incurred in reliance only on clause (a)(vi) of this Section 6.01.

                

                

                SECTION 6.02    Liens.  Holdings will not, nor will it permit any Restricted Subsidiary to, create, incur, assume or
                  permit to exist any Lien on any property or asset now owned or hereafter acquired by it, except:

                

                

                (i)           Liens created under the Loan Documents, including Liens securing Incremental Facilities;

                

                

                (ii)          Permitted Encumbrances;

                

                

                (iii)      Liens existing on the Closing Date; provided that any Lien securing Indebtedness or other obligations in excess of
                  $10,000,000 individually shall only be permitted if set forth on Schedule 6.02 or described in the 10-K filed by Holdings on February 23, 2021; and any modifications, replacements, renewals or extensions thereof; provided
                  that (1) such modified, replacement, renewal or extension Lien does not extend to any additional property other than (a) after-acquired property that is affixed or incorporated into the property covered by such Lien and (b) proceeds and
                  products thereof, unless such modified, replacement, renewal or extension Lien is otherwise permitted by a separate provision of this Section 6.02, and (2) the obligations secured or benefited by such modified, replacement, renewal or
                  extension Lien are permitted by Section 6.01;

                

                

                
                  179

                  
                    

                

                (iv)       Liens securing Indebtedness permitted under Section 6.01(a)(v); provided
                  that (A) such Liens attach concurrently with or within 270 days after the acquisition, repair, replacement, construction or improvement (as applicable) of the property subject to such Liens, (B) such Liens do not at any time encumber any
                  property other than the property financed by such Indebtedness, except for accessions to such property and the proceeds and the products thereof, and any lease or sublease of such property (including accessions thereto) and the proceeds
                  and products thereof and (C) with respect to Capital Lease Obligations, such Liens do not at any time extend to or cover any assets (except for accessions to or proceeds of such assets) other than the assets subject to such Capital Lease
                  Obligations; provided further that individual financings of equipment provided by one lender may be cross collateralized to other financings of equipment provided by such lender;

                

                

                (v)         leases, licenses, subleases or sublicenses granted to others (on a non-exclusive basis) that are entered into in
                  the ordinary course of business or that do not interfere in any material respect with the business of Holdings and the Restricted Subsidiaries, taken as a whole;

                

                

                (vi)        Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties
                  in connection with the importation of goods;

                

                

                (vii)       Liens (A) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course
                  of collection and (B) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of setoff) and that are within the general parameters customary in the banking industry;

                

                

                (viii)     Liens (A) on cash advances or escrow deposits in favor of the seller of any property to be acquired in an
                  Investment permitted pursuant to Section 6.04 to be applied against the purchase price for such Investment or otherwise in connection with any escrow arrangements with respect to any such Investment or any Disposition permitted
                  under Section 6.05 (including any letter of intent or purchase agreement with respect to such Investment or Disposition) or (B) consisting of an agreement to dispose of any property in a Disposition permitted under Section
                    6.05, in each case, solely to the extent such Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien;

                

                

                (ix)         Liens on property and Equity Interests of any Restricted Subsidiary that is not a Loan Party, which Liens secure
                  Indebtedness of such Restricted Subsidiary that is not a Loan Party, in each case, to the extent such Indebtedness is permitted under Section 6.01(a)(xxv);

                

                

                (x)        (1) Liens granted by a Restricted Subsidiary that is not a Loan Party in favor of any Loan Party, (2) Liens granted
                  by a Restricted Subsidiary that is not a Loan Party in favor of Restricted Subsidiary that is not a Loan Party and (3) Liens granted by a Loan Party in favor of any Restricted Subsidiary that is not a Loan Party; provided that, in the
                  case of this clause (3) such Lien is subordinated to the Liens securing the Secured Obligations pursuant to the Fifth Amended and Restated Intercompany Note or otherwise on terms reasonably satisfactory to the Administrative Agent;

                

                

                
                  180

                  
                    

                

                (xi)        Liens existing on property at the time of its acquisition or existing on the property of any Person at the time
                  such Person becomes a Subsidiary, in each case after the date hereof; provided that (A) such Lien was not created in contemplation of such acquisition or such Person becoming a Subsidiary, (B) such Lien does not extend to or cover
                  any other assets or property (other than the proceeds or products thereof and other than after-acquired property subject to a Lien securing Indebtedness and other obligations incurred prior to such time and which Indebtedness and other
                  obligations are permitted hereunder that require or include, pursuant to their terms at such time, a pledge of after-acquired property, it being understood that such requirement shall not be permitted to apply to any property to which
                  such requirement would not have applied but for such acquisition), and (C) the Indebtedness secured thereby is permitted under Section 6.01(a)(vii);

                

                

                (xii)       any interest or title (and all encumbrances and other matters affecting such interest or title) of a lessor or
                  sublessor, licensor or sublicensor or secured by a lessor’s or sublessor’s, licensor’s or sublicensor’s interest under leases or subleases (other than leases or subleases constituting Capital Lease Obligations), subleases, licenses, cross
                  licenses or sublicenses entered into by the Borrower or any Restricted Subsidiary in the ordinary course of business, provided that any interest or title granted under any licenses, cross-licenses, or sublicenses is non-exclusive and does
                  not materially interfere with the business of Holdings and the Restricted Subsidiaries, taken as a whole;

                

                

                (xiii)      Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale or purchase
                  of goods by Holdings or any Restricted Subsidiary in the ordinary course of business;

                

                

                (xiv)      Liens deemed to exist in connection with Investments in repurchase agreements permitted under clause (e) of the
                  definition of the term “Cash Equivalents”;

                

                

                (xv)       Liens encumbering reasonable and customary initial deposits and margin deposits and similar Liens attaching to
                  commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;

                

                

                (xvi)     Liens that are contractual rights of setoff (A) relating to the establishment of depository relations with banks not
                  given in connection with the incurrence of Indebtedness, (B) relating to pooled deposit or sweep accounts to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of Holdings and the
                  Restricted Subsidiaries or (C) relating to purchase orders and other agreements entered into with customers of Holdings or any Restricted Subsidiary in the ordinary course of business;

                

                

                
                  181

                  
                    

                

                (xvii)     ground leases in respect of real property on which facilities owned or leased by the Borrower or any Restricted
                  Subsidiary are located and any zoning or similar law or right reserved to or vested in any Governmental Authority to control or regulate the use of any real property that does not materially interfere with the ordinary conduct of the
                  business of Holdings or any Restricted Subsidiary;

                

                

                (xviii)    Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

                

                

                (xix)     Liens (A) on the Collateral securing Permitted First Priority Refinancing Debt, (B) on the Collateral securing
                  Permitted Second Priority Refinancing Debt, (C) on the Collateral securing Incremental Equivalent Debt (and permitted to be incurred as secured Indebtedness), (D) on the Collateral securing Permitted Debt Exchange Notes and (E) securing
                  Ratio Indebtedness (including with respect to Ratio Indebtedness, Liens on assets that do not constitute Collateral); provided if any such Indebtedness is secured by the Collateral on a pari passu basis  or junior basis (but
                  without regard to control of remedies) with Liens securing the Secured Obligations in respect of the Refinancing Term Loans and Initial Revolving Loans, such Indebtedness shall be subject to an applicable Intercreditor Agreement;

                

                

                (xx)       other Liens (including Liens on assets that do not constitute Collateral); provided
                  that at the time of incurrence of such Liens and the obligations secured thereby (after giving Pro Forma Effect to any such obligations) the aggregate outstanding face amount of obligations secured by Liens existing in reliance on this clause

                    (xx) shall not exceed the greater of $150,000,000 and 20.0% of Consolidated EBITDA for the Test Period then last ended;

                

                

                (xxi)       Liens on the Equity Interest of Unrestricted Subsidiaries;

                

                

                (xxii)    Liens on Permitted Receivables Financing Assets or Liens on other assets granted
                  pursuant to Standard Securitization Undertakings, in each case, incurred in connection with Permitted Receivables Financings;

                

                

                (xxiii)    receipt of progress payments and advances from customers in the ordinary course of business to the extent the same
                  creates a Lien on the related inventory and proceeds thereof;

                

                

                (xxiv)     (i) Liens on Equity Interests of joint ventures securing capital contributions to, or obligations of, such Persons,
                  (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and (iii) Liens solely on any cash earnest money deposits made by Holdings or any of its Restricted Subsidiaries in connection with any
                  letter of intent or purchase agreement permitted hereunder;

                

                

                (xxv)      Liens in respect of Sale Leasebacks in each case on the assets or property sold and leased back in such Sale
                  Leaseback;

                

                

                (xxvi)    Liens on cash and Cash Equivalents arising in connection with the defeasance, discharge or redemption of
                  Indebtedness provided that such defeasance, discharge or redemption is permitted hereunder;

                

                

                
                  182

                  
                    

                

                (xxvii)   Liens on cash or Cash Equivalents securing Swap Agreements in the ordinary course of business submitted for clearing
                  in accordance with applicable Requirements of Law and that are not entered into for speculative purposes and Liens securing Indebtedness permitted under Section 6.01(a)(vi) and (xiii);

                

                

                (xxviii)   with respect to any Foreign Subsidiary, other Liens and privileges arising mandatorily by Requirements of Law;

                

                

                (xxix)    (i) Liens securing the Senior Secured 2025 Notes (or any Permitted Refinancing thereof) in accordance with the Pari
                  Passu Intercreditor Agreement or such other Market Intercreditor Agreement; (ii) Liens securing the obligations under the South African Credit Agreement (or any Permitted Refinancing thereof) (iii) Liens securing the obligations under the
                  Emirates Revolver (or any Permitted Refinancing thereof); (iv) Liens securing the obligations under the Emirates Revolving (or any Permitted Refinancing thereof) and (v) Liens securing obligations under the SAAB Credit Facility (or any
                  Permitted Refinancing thereof).

                

                

                (xxx)     additional Liens securing Indebtedness permitted under Section 6.01 so long as (1) in the case of
                  Indebtedness secured by a Lien on the Collateral that is pari passu with the Liens securing the Refinancing Term Loans and Initial Revolving Loans, the First Lien Net Leverage Ratio shall not exceed (I) 3.50:1.00 or (II) at the election
                  of the Borrower to the extent such Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the First Lien Net Leverage Ratio in effect for the most
                  recently ended Test Period, in each case calculated on a Pro Forma Basis as of the most recently ended Test Period, (2) in the case of Indebtedness that is secured by a Lien on the Collateral that is junior to the Liens securing the
                  Refinancing Term Loans and Initial Revolving Loans (without regard to control of remedies), the Secured Net Leverage Ratio shall not exceed (I) 4.50:1.00 or (II) at the election of Holdings to the extent such Indebtedness is incurred in
                  connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Secured Net Leverage Ratio in effect for the most recently ended Test Period in each case calculated on a Pro Forma
                  Basis as of the most recently ended Test Period, (3) in the case of Indebtedness that is secured by a Lien on assets that do not constitute Collateral, either (a) the Total Net Leverage Ratio does not exceed (I) 5.00:1.00 or, (II) at the
                  election of Holdings to the extent such Indebtedness is incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Total Net Leverage Ratio in effect for the most
                  recently ended Test Period, in each case calculated on a Pro Forma Basis as of the most recently ended Test Period or (b) the Cash Interest Coverage Ratio is not less than (I) 2.00 to 1.00 (or to the extent such Ratio Indebtedness is
                  incurred in connection with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, 1.75 to 1.00) or (II) at the election of Holdings to the extent such Indebtedness is incurred in connection
                  with the financing of a Permitted Acquisition or similar Investment permitted under the Loan Documents, the Cash Interest Coverage Ratio in effect for the most recently ended Test Period in each case calculated on a Pro Forma Basis as of
                  the most recently ended Test Period, and (4) if any such Indebtedness is secured by the Collateral the beneficiaries thereof (or an agent on their behalf) shall have entered into a Market Intercreditor Agreement;

                

                

                
                  183

                  
                    

                

                (xxxi)    Liens on the Equity Interests of joint venture arrangements securing financing arrangements for the benefit of the
                  applicable joint venture arrangement that are not otherwise prohibited under this Agreement and Liens on Equity Interests of Unrestricted Subsidiaries;

                

                

                (xxxii)   Liens on cash collateral granted in favor of any Lender created as a result of any requirement or option to cash
                  collateralize pursuant to this Agreement or any other Loan Document;

                

                

                (xxxiii)  with respect to Australian Loan Parties, Liens arising under Section 12(3) of the Personal

                    Property Securities Act 2009 (Cth) which do not secure payment or performance of an obligation; and

                

                

                (xxxiv)   Liens on cash granted in accordance with the Payoff Letter.

                

                

                Notwithstanding the foregoing, all Liens incurred under the Loan Documents will be deemed to have been incurred in reliance only on clause (i) of this Section 6.02,

                

                

                SECTION 6.03    Fundamental Changes.  Holdings will not, nor will it permit any Restricted Subsidiary to, merge into
                  or consolidate or amalgamate with any other Person, or permit any Person to merge into or consolidate with it, or liquidate or dissolve, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of
                  the assets (whether now owned or hereafter acquired) of Holdings and the Restricted Subsidiaries, taken as a whole, to or in favor of any Person, except that:

                

                

                (a)        any Restricted Subsidiary of Holdings (other than the Borrower) may merge, consolidate or amalgamate with (A) the Borrower; provided
                  that the Borrower shall be the continuing or surviving Person or (B) one or more other Restricted Subsidiaries of Holdings;

                

                

                (b)          Holdings and each Restricted Subsidiary may enter into a Permitted Reorganization;

                

                

                (c)          any Restricted Subsidiary (other than the Borrower or any other Loan Party) may liquidate or dissolve if Holdings determines in good
                  faith that such action is in the best interests of Holdings and the Restricted Subsidiaries, taken as a whole, and is not materially disadvantageous to the Lenders;

                

                

                (d)         any Restricted Subsidiary may make a Disposition of all or substantially all of its assets (upon voluntary liquidation or otherwise)
                  to any other Restricted Subsidiary;

                

                

                
                  184

                  
                    

                

                (e)         Any Holdings may merge, amalgamate or consolidate with any other Person; provided that (A)
                  Holdings shall be the continuing or surviving Person or (B) if the Person formed by or surviving any such merger or consolidation is not Holdings (any such Person, the “Successor Holdings”), (1) such Successor Holdings shall be an
                  entity organized or existing under the laws of the United States, any State thereof or the District of Columbia, Australia or the United Kingdom, (2) such Successor Holdings shall expressly assume all the obligations of Holdings under
                  this Agreement and the other Loan Documents to which Holdings is a party pursuant to a supplement hereto or thereto in form and substance reasonably satisfactory to the Administrative Agent, (3) each Loan Party other than the Borrower,
                  unless it is the other party to such merger, amalgamation or consolidation, shall have reaffirmed, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, that its Guarantee of, and grant of any
                  Liens as security for, the Secured Obligations shall apply to such Successor Holdings’ obligations under this Agreement and the other Loan Documents and (4) Holdings shall have delivered to the Administrative Agent a certificate of a
                  Responsible Officer, stating that such merger, amalgamation or consolidation complies with this Agreement; provided further that (x) if such Person is not a Loan Party, no Event of Default exists after giving effect to such
                  merger, amalgamation or consolidation and (y) if the foregoing requirements are satisfied, such Successor Holdings will succeed to, and be substituted for, Holdings under this Agreement and the other Loan Documents; provided further that
                  Holdings agrees to provide any documentation and other information about such Successor Holdings as shall have been reasonably requested in writing by any Lender through the Administrative Agent that such Lender shall have reasonably
                  determined is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including Title III of the USA Patriot Act;

                

                

                (f)         the Borrower may merge, amalgamate or consolidate with any other Person; provided that (A) the Borrower shall be the
                  continuing or surviving Person or (B) if the Person formed by or surviving any such merger or consolidation is not the Borrower (any such Person, the “Successor Borrower”), (1) the Successor Borrower shall be an entity organized or
                  existing under the laws of the United States, any State thereof or the District of Columbia, (2) the Successor Borrower shall expressly assume all the obligations of the Borrower under this Agreement and the other Loan Documents to which
                  the Borrower is a party pursuant to a supplement hereto or thereto in form and substance reasonably satisfactory to the Administrative Agent, (3) each Loan Party other than the Borrower, unless it is the other party to such merger,
                  amalgamation or consolidation, shall have reaffirmed, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, that its Guarantee of, and grant of any Liens as security for, the Secured
                  Obligations shall apply to the Successor Borrower’s obligations under this Agreement and the other Loan Documents and (4) the Borrower shall have delivered to the Administrative Agent a certificate of a Responsible Officer, each stating
                  that such merger, amalgamation or consolidation complies with this Agreement; provided further that (x) if such Person is not a Loan Party, no Event of Default exists after giving effect to such merger, amalgamation or
                  consolidation and (y) if the foregoing requirements are satisfied, the Successor Borrower will succeed to, and be substituted for, the Borrower under this Agreement and the other Loan Documents; provided further that the
                  Borrower agrees to provide any documentation and other information about the Successor Borrower as shall have been reasonably requested in writing by any Lender through the Administrative Agent that such Lender shall have reasonably
                  determined is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including Title III of the USA Patriot Act;

                

                

                
                  185

                  
                    

                

                (g)         any Restricted Subsidiary (other than Holdings or the Borrower) may merge, consolidate or amalgamate with any other Person in order
                  to effect an Investment permitted pursuant to Section 6.04 (other than Section 6.04(u)); provided that the continuing or surviving Person shall be a Restricted Subsidiary, which shall have complied with the
                  requirements of Section 5.13 and 5.14;

                

                

                (h)          [reserved];

                

                

                (i)           Holdings and its Subsidiaries may undertake or consummate any Tax Restructuring; and

                

                

                (j)         any Restricted Subsidiary (other than Holdings) may effect a merger, dissolution, liquidation
                  consolidation or amalgamation to (1) effect a Disposition permitted pursuant to Section 6.05 (other than Section 6.05(e)) or (2) an Investment permitted pursuant to Section 6.04 (other than Section 6.04(u)).

                

                

                SECTION 6.04   Investments,
                    Loans, Advances, Guarantees and Acquisitions.  Holdings will not, nor will it permit any Restricted Subsidiary to, make or hold any Investment, except:

                

                

                (a)          [reserved];

                

                

                (b)          Investments in cash and Cash Equivalents at the time such Investment in Cash Equivalent is made;

                

                

                (c)         loans or advances to present or former officers, directors, managers, members of management,
                  consultants, independent contractors and employees of Holdings, any Parent Entity and the Restricted Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business
                  purposes, (ii) in connection with such Person’s purchase of Equity Interests in Holdings (or any Parent Entity) (provided that the amount of such loans and advances made in cash to such Person shall be contributed to Holdings or
                  any Restricted Subsidiary in cash as common equity or Qualified Equity Interests) and (iii) for purposes not described in the foregoing clauses (i) and (ii); provided that at the time of incurrence thereof and
                  after giving Pro Forma Effect thereto, the aggregate principal amount outstanding in reliance on this clause (iii) shall not exceed $25,000,000;

                

                

                (d)          Investments by Holdings or any Restricted Subsidiary in Holdings or any Restricted Subsidiary;

                

                

                (e)          Investments consisting of deposits, prepayments and/or other credits to suppliers in the ordinary course of business;

                

                

                (f)          Investments consisting of extensions of trade credit in the ordinary course of business;

                

                

                (g)         Investment existing or contemplated on the date hereof and set forth on Schedule 6.04(g) or
                  described in the 10-K filed by Holdings on February 23, 2021  and any modification, replacement, renewal, reinvestment or extension thereof; provided that the amount of the original Investment is not increased except by the terms of such
                  Investment to the extent set forth on Schedule 6.04(g) or as otherwise permitted by this Section 6.04;

                

                

                
                  186

                  
                    

                

                (h)          Investments in Swap Agreements permitted under Section 6.01;

                

                

                (i)           promissory notes and other Investments received in connection with Dispositions permitted by Section 6.05;

                

                

                (j)           Permitted Acquisitions;

                

                

                (k)         obligations with respect to Guarantees provided by Holdings or any Restricted Subsidiary in respect of leases (other than Capitalized
                  Leases) or of other obligations that do not constitute Indebtedness, in each case entered into in the ordinary course of business;

                

                

                (l)          Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements
                  with customers consistent with past practices;

                

                

                (m)      Investments (including debt obligations and Equity Interests) (i) received in connection with the bankruptcy or reorganization of
                  suppliers and customers, from financially troubled account debtors or in settlement of delinquent obligations of, or other disputes with, customers and suppliers or upon the foreclosure with respect to any secured Investment or other
                  transfer of title with respect to any secured Investment, (ii) in satisfaction of judgments against other Persons, (iii) as a result of a foreclosure by Holdings or any Restricted Subsidiary with respect to any secured Investment or other
                  transfer of title with respect to any secured Investment in default and (iv) as a result of the settlement, compromise or resolution of (a) litigation, arbitration or other disputes or (b) obligations of trade creditors or customers that
                  were incurred in the ordinary course of business or consistent with industry practice of the Borrower or any Restricted Subsidiary, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency
                  of any trade creditor or customer;

                

                

                (n)         loans and advances to any Parent Entity in lieu of, and not in excess of the amount of (after giving
                  effect to any other loans, advances or Restricted Payments; in respect thereof), Restricted Payments to the extent permitted to be made to such Parent Entity in accordance with Section 6.08(a) (other than clause (ii) thereof); provided
                  that any such loan or advance shall reduce the amount of such applicable Restricted Payments thereafter permitted under Section 6.08(a) by a corresponding amount; provided further that any conditions to the making of such
                  Restricted Payment (including the absence of an Event of Default or compliance with a financial ratio) shall be satisfied;

                

                

                (o)        additional Investments and other acquisitions; provided that at the time any such Investment or
                  other acquisition is made, the aggregate outstanding amount of such Investment or acquisition made in reliance on this clause (o), (including the aggregate outstanding amount of all consideration paid in connection with all other
                  Investments and acquisitions made in reliance on this clause (o), whether in the form of Indebtedness assumed or otherwise), shall not exceed the sum of (A) the greater of $250,000,000 and 25.0% of Consolidated EBITDA for the most
                  recently ended Test Period, plus (B) the Available Amount that is Not Otherwise Applied as in effect immediately prior to the time of making of such Investment so long as, with respect to this clause (B), (x) no Event of
                  Default has occurred and is continuing (or would occur after giving Pro Forma Effect to such action) and (y) where such Investment is funded from the Growth Amount, the Total Net Leverage Ratio, on a Pro Forma Basis, is less than or equal
                  to 4.25:1.00 at the relevant date of determination;

                

                

                
                  187

                  
                    

                

                (p)          [reserved];

                

                

                (q)          advances of payroll payments to employees in the ordinary course of business;

                

                

                (r)         Investments and other acquisitions to the extent that payment for such Investments is made with
                  Qualified Equity Interests of Holdings (or any direct or indirect Parent Entity thereof); provided that such amounts used pursuant to this clause (r) shall not increase the Available Amount;

                

                

                (s)          (i) Investments of a Restricted Subsidiary acquired after the Closing Date or of a Person merged or
                  consolidated with Holdings or any Restricted Subsidiary in accordance with this Section and Section 6.03 after the Closing Date and (ii) Investments of an Unrestricted Subsidiary prior to the date on which such Unrestricted
                  Subsidiary is designated a  “Restricted Subsidiary”, in each case, to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation or such designation and were in
                  existence on the date of such acquisition, merger or consolidation or such designation;

                

                

                (t)           [reserved];

                

                

                (u)         Investments consisting of Indebtedness, Liens, fundamental changes, Dispositions and Restricted Payments
                  permitted (other than by reference to this Section 6.04(u)) under Section 6.01, 6.02, 6.03 (other than clause (g) or (j) thereof), 6.05 (other than clause (e) thereof) and 6.08,
                  respectively;

                

                

                (v)         additional unlimited Investments; provided that after giving effect to such Investment on a Pro
                  Forma Basis, the Total Net Leverage Ratio is less than or equal to 4.50:1.00 as of the end of the most recently ended Test Period as of such time;

                

                

                (w)         contributions to a “rabbi” trust for the benefit of employees, directors, consultants, independent contractors or other service
                  providers of Holdings (or any Parent Entity) or any Restricted Subsidiary or other grantor trust subject to claims of creditors in the case of a bankruptcy of Holdings or the Borrower;

                

                

                (x)         to the extent that they constitute Investments, purchases and acquisitions of inventory, supplies, materials or equipment or
                  purchases, acquisitions, licenses, sublicenses, leases or subleases of other assets, intellectual property, or other rights, in each case in the ordinary course of business;

                

                

                (y)         Investments in the form of debt or Equity Interests obtained in connection with the contribution, sale, or other transfer of
                  Permitted Receivables Financing Assets, cash or Cash Equivalents made in connection with a Permitted Receivables Financing (including the contribution or lending of cash and Cash Equivalents to Subsidiaries to finance the purchase of
                  receivables or related assets from Holdings or Restricted Subsidiaries or to otherwise fund required reserves);

                

                

                
                  188

                  
                    

                

                (z)          [reserved];

                

                

                (aa)      Investments (x) in joint ventures in an aggregate amount not to exceed the greater of $125,000,000 and
                  15.0% of Consolidated EBITDA for the most recently ended Test Period, and (y) in Unrestricted Subsidiaries in an aggregate amount not to exceed the greater of $150,000,000 and 15.0% of Consolidated EBITDA for the most recently ended Test
                  Period;

                

                

                (bb)        [reserved]; and

                

                

                (cc)       unfunded pension fund and other employee benefit plan obligations and liabilities to the extent that the
                  same are permitted to remain unfunded under applicable Requirements of Law.

                

                

                Notwithstanding the foregoing, all Investments in the form of loans made to any Loan Party by Holdings or any of its Subsidiaries (or by any holder of Equity Interests in Holdings or any
                  of its Subsidiaries) shall in each case be subordinated to the Secured Obligations on terms reasonably satisfactory to the Administrative Agent and each party to any such loan shall become a party to an intercreditor agreement reasonably
                  satisfactory to the Administrative Agent.

                

                

                SECTION 6.05   Asset Sales.  Holdings will not, nor will
                  it (i) permit any Restricted Subsidiary to, sell, transfer, lease, license or otherwise dispose of any asset, including any Equity Interest owned by it, or (ii) permit any Restricted Subsidiary to issue any additional Equity Interest in
                  such Restricted Subsidiary (other than (A) issuing directors’ qualifying shares or nominal shares issued to foreign nationals to the extent required by applicable Requirements of Law, (B) issuing Equity Interests to Holdings or any
                  Restricted Subsidiary , (C) any non-wholly-owned Restricted Subsidiary issuing Equity Interests of such Subsidiary to each owner of Equity Interests of such Subsidiary ratably based on their relative ownership interests and (D) any Equity
                  Interests that are pledged (and remain pledged) by a Loan Party to secure the Secured Obligations hereunder), in a single transaction or a series of related transactions (each, a “Disposition”), except:

                

                

                (a)        Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business and
                  Dispositions of property no longer used or useful, or economically practicable to maintain, in the conduct of the business of Holdings and the Restricted Subsidiaries (including (i) allowing any registration or application for
                  registration of any Intellectual Property that is no longer used or useful, or economically practicable to maintain, to lapse, go abandoned, or be invalidated or (ii) disposing of, discontinuing the use or maintenance of, abandoning,
                  failing to pursue or otherwise allowing to lapse, expire, terminate or put into the public domain any of its Intellectual Property if the Borrower determines in its reasonable business judgment that such discontinuance is desirable in the
                  conduct of its business and does not materially interfere with the business of the Borrower and the Restricted Subsidiaries, taken as a whole;

                

                

                (b)          Dispositions of inventory and other assets in the ordinary course of business (including on an intercompany basis);

                

                

                (c)         Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of similar
                  replacement property, or other assets of comparable or greater value or usefulness to the business or (ii) an amount equal to the Net Proceeds of such Disposition are promptly applied to the purchase price of such replacement property;

                

                

                
                  189

                  
                    

                

                (d)          Dispositions of property to Holdings or any Restricted Subsidiary;

                

                

                (e)        Dispositions permitted by Section 6.03, Investments permitted by Section 6.04, Restricted
                  Payments permitted by Section 6.08 and Liens permitted by Section 6.02, in each case, other than by reference to this Section 6.05(e);

                

                

                (f)          Dispositions of cash and/or Cash Equivalents and/or other assets that were Cash Equivalents when the relevant original Investment
                  was made;

                

                

                (g)         Dispositions of (A) accounts receivable, notes receivable or other current assets in the ordinary course of business or consistent
                  with industry practice or the conversion of accounts receivable to notes receivable or other dispositions of accounts receivable in connection with the collection or compromise thereof and (B) Permitted Receivables Financing Assets
                  pursuant to any Permitted Receivables Financing;

                

                

                (h)         leases, subleases, non-exclusive licenses or non-exclusive sublicenses, in each case in the ordinary course of business and that do
                  not materially interfere with the business of Holdings and the Restricted Subsidiaries, taken as a whole;

                

                

                (i)           transfers of property subject to Recovery Events upon receipt of the Net Proceeds of such Recovery
                  Event;

                

                

                (j)           Dispositions of other assets or property (including the sale or issuance of Equity Interests in a
                  Restricted Subsidiary); provided that (i) such Disposition is made for Fair Market Value, (ii) with respect to any Disposition pursuant to this clause (j) for a sale price in excess of the greater of (x) $35,000,000 and
                  (y) 5.0% of the Consolidated EBITDA for the then most recently ended Test Period for any transaction or series of related transactions, Holdings or any Restricted Subsidiary shall receive not less than 75.0% of such consideration in the
                  form of cash or Cash Equivalents; provided, however, that for the purposes of this clause (ii), (A) any liabilities (as shown on the most recent balance sheet of Holdings provided hereunder or in the footnotes
                  thereto) of Holdings or such Restricted Subsidiary, other than liabilities that are by their terms subordinated in right of payment to the Loan Document Obligations, (1) that are assumed by the transferee with respect to the applicable
                  Disposition and (2) in respect of which Holdings and each Restricted Subsidiary is no longer obligated with respect to such liabilities or are indemnified against further liabilities, shall be deemed to be cash, (B) any securities
                  received by Holdings or such Restricted Subsidiary from such transferee that are converted by Holdings or such Restricted Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 180 days
                  following the closing of the applicable Disposition, shall be deemed to be cash, (C) Indebtedness of a Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Disposition, to the extent that Holdings and each
                  other Restricted Subsidiary is released from any guarantee of such Indebtedness in connection with such Disposition, shall be deemed to be cash, (D) consideration consisting of Indebtedness of the Borrower or any Guarantor that is secured
                  by a Lien that is secured on a pari passu basis with the Lien securing the Secured Obligations on the asset which is subject of the Disposition, in each case received from Persons who are not Holdings or Restricted Subsidiary that is
                  cancelled, shall be deemed to be cash, and (E) any Designated Non-Cash Consideration received by the Borrower or such Restricted Subsidiary in respect of such Disposition having an aggregate Fair Market Value, taken together with all
                  other Designated Non-Cash Consideration received pursuant to this clause (j) that is at that time outstanding, not in excess (at the time of receipt of such Designated Non-Cash Consideration) of the greater of (x) $50,000,000 and
                  (y) 5.0% of Consolidated EBITDA for the most recently ended Test Period (net of any Designated Non-Cash Consideration converted into cash or Cash Equivalents), with the Fair Market Value of each item of Designated Non-Cash Consideration
                  being measured at the time received and without giving effect to subsequent changes in value, shall be deemed to be cash and (iii) the Net Proceeds of such Disposition shall be applied and/or reinvested as (and to the extent) required by
                  Section 2.11(b);

                

                

                
                  190

                  
                    

                

                (k)         Dispositions of Investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements between
                  the joint venture parties set forth in, joint venture agreements and similar binding arrangements;

                

                

                (l)          Dispositions of any assets (including Equity Interests) (A) acquired in connection with any Permitted Acquisition or other
                  Investment permitted hereunder, which assets are not core or principal to the business of Holdings and the Restricted Subsidiaries or (B) made to obtain the approval of any applicable antitrust authority in connection with a Permitted
                  Acquisition;

                

                

                (m)      transfers of condemned property as a result of the exercise of “eminent domain” or other similar powers to
                  the respective Governmental Authority or agency that has condemned the same (whether by deed in lieu of condemnation or otherwise), and transfers of property arising from foreclosure or similar action or that have been subject to a
                  casualty to the respective insurer of such real property as part of an insurance settlement;

                

                

                (n)          Dispositions of the Equity Interest of Unrestricted Subsidiaries;

                

                

                (o)         Dispositions in connection with any Tax Restructuring provided that after giving effect to any such Disposition, the
                  Guarantees of the Loans and the security interests of the Lenders in the Collateral, taken as a whole, would not be adversely impaired;

                

                

                (p)          the issuance of any Equity Interests of Holdings;

                

                

                (q)        any merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize (i) any Domestic
                  Subsidiary in another jurisdiction in the U.S. and/or (ii) any Foreign Subsidiary in the U.S. or any other jurisdiction;

                

                

                (r)           a Permitted Reorganization;

                

                

                (s)         each Loan Party and each of its Restricted Subsidiaries may surrender or waive contractual rights and settle or waive contractual or
                  litigation claims in the ordinary course of business; and

                

                

                (t)           the unwinding of any Swap Agreement pursuant to its terms.

                

                

                
                  191

                  
                    

                

                To the extent that any Collateral is Disposed of as expressly permitted by this Section 6.05 to any Person other than a Loan Party, such Collateral shall be sold free and clear of the Liens created
                  by the Loan Documents, which Liens shall be automatically released upon the consummation of such Disposition; it being understood and agreed that the Administrative Agent shall be authorized to take, and shall take, any actions deemed
                  appropriate in order to effect the foregoing.

                

                

                SECTION 6.06    [Reserved]

                

                

                SECTION 6.07   Negative Pledge.  Holdings
                  will not, and will not permit any Restricted Subsidiary to, enter into any agreement, instrument, deed or lease that prohibits or limits the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of their
                  respective properties or revenues, whether now owned or hereafter acquired, for the benefit of the Secured Parties with respect to the Secured Obligations or under the Loan Documents; provided that the foregoing shall not apply
                  to:

                

                

                (a)        restrictions and conditions imposed by (i) Requirements of Law, (ii) any Loan Document or any Swap Agreement (iii) any documentation
                  relating to any Permitted Receivables Financing, (iv) any documentation governing (A) Indebtedness incurred pursuant to Section 6.01(a)(v), Section 6.01(a)(vii), Section 6.01(a)(xiv), Section 6.01(a)(xix),
                  Section 6.01(a)(xxiii),  Section(a)(xxiv), or 6.01(a)(xxv),  (B) Indebtedness otherwise permitted to be incurred by Section 6.01 solely by a Restricted Subsidiary that is not a Loan Party and/or (C) Indebtedness
                  permitted to be incurred by Section 6.01 on a secured basis that is secured by assets that constitute Excluded Assets and/or (v) any documentation governing any Permitted Refinancing incurred to refinance any such Indebtedness
                  referenced in clauses (iii) and (iv) above;

                

                

                (b)        customary restrictions and conditions existing on the Closing Date after giving effect to the Closing Date Refinancing and any
                  extension, renewal, amendment, modification or replacement thereof, except to the extent any such amendment, modification or replacement expands the scope of any such restriction or condition;

                

                

                (c)         any security interest or right of set-off in favor of Dutch banks arising from their general banking conditions (algemene bankvoorwaarden);

                

                

                (d)          customary provisions in leases, subleases, licenses, cross-licenses or sublicenses and other contracts restricting the assignment
                  thereof and restrictions that include customary provisions restricting assignment of any agreement entered into in the ordinary course of business;

                

                

                (e)         any other agreement or instrument governing any Indebtedness or Disqualified Stock permitted to be incurred or issued pursuant to Section

                    6.01 entered into after the Closing Date that contains encumbrances and restrictions that either (i) are no more restrictive in any material respect, taken as a whole, with respect to the Borrower or any Restricted Subsidiary than
                  (A) the restrictions contained in the Loan Documents as of the Closing Date or (B) those encumbrances and other restrictions that are in effect on the Closing Date with respect to the Borrower or that Restricted Subsidiary pursuant to
                  agreements in effect on the Closing Date, (ii) are not materially more disadvantageous, taken as a whole, to the Lenders than is customary in comparable financings for similarly situated issuers or (iii) will not materially impair the
                  Borrower’s ability to make payments on the Secured Obligations when due, in each case in the good faith judgment of the Borrower;

                

                

                
                  192

                  
                    

                

                (f)        any restrictions or conditions set forth in any agreement in effect at any time any Person becomes a Subsidiary (but not any
                  modification or amendment expanding the scope of any such restriction or condition); provided that such agreement was not entered into in contemplation of such Person becoming a Subsidiary;

                

                

                (g)        contracts or agreements for the sale or disposition of assets, including any restrictions with respect to a Subsidiary of Holdings
                  pursuant to an agreement that has been entered into for the sale or disposition of any of the Equity Interests or assets of such Subsidiary;

                

                

                (h)          restrictions on cash (or Cash Equivalents) or other deposits imposed by agreements entered into in the ordinary course of business
                  (or other restrictions on cash or deposits constituting Permitted Encumbrances);

                

                

                (i)         restrictions set forth on Schedule 6.07 and any extension, renewal, amendment, modification or replacement thereof, except to
                  the extent any such amendment, modification or replacement expands the scope of any such restriction or condition; and

                

                

                (j)        customary provisions in partnership agreements, limited liability company organizational governance documents, sale leaseback
                  agreements, joint venture agreements and other similar agreements, in each case, entered into in the ordinary course of business.

                

                

                SECTION 6.08    Restricted Payments; Certain Payments of Indebtedness.

                

                

                (a)          Holdings will not, nor will it permit any Restricted Subsidiary to, pay or make, directly or
                  indirectly, any Restricted Payment, except:

                

                

                (i)          each Restricted Subsidiary may make Restricted Payments to Holdings or any Restricted Subsidiary (and, in the
                  case of any such Subsidiary that is not a wholly-owned Subsidiary, to each other owner of Equity Interests of such Subsidiary ratably based on their relative ownership interests of the relevant class of Equity Interests);

                

                

                (ii)         [Reserved];

                

                

                (iii)        [Reserved];

                

                

                (iv)        [Reserved]

                

                

                (v)         repurchases of Equity Interests in Holdings or any Parent Entity (or make Restricted Payments to allow repurchases
                  of Equity Interest in Holdings any Parent Entity) deemed to occur upon exercise of stock options or warrants or other incentive interests if such Equity Interests represent a portion of the exercise price of such stock options or warrants
                  or other incentive interests;

                

                

                
                  193

                  
                    

                

                (vi)       Holdings may redeem, acquire, retire or repurchase its Equity Interests (or any
                  options, warrants, restricted stock, stock appreciation rights or other equity-linked interests issued with respect to any of such Equity Interests) or make Restricted Payments to allow any of its Parent Entities to so redeem, retire,
                  acquire or repurchase their Equity Interests (or any options, warrants, restricted stock, stock appreciation rights or other equity-linked interests issued with respect to any of such Equity Interests), in each case, held by current or
                  former officers, managers, consultants, directors, employees, independent contractors or other service providers (or their respective spouses, former spouses, domestic partners, successors, executors, administrators, heirs, legatees or
                  distributees) of Holdings or any Parent Entity thereof and the Restricted Subsidiaries, upon the death, disability, retirement or termination of employment or service of, or breach of restrictive covenants by, any such Person or otherwise
                  in accordance with any stock option or stock appreciation rights plan, any management, director and/or employee stock ownership or incentive plan, stock subscription plan, stock subscription or equity incentive award agreement, employment
                  termination agreement or any other employment agreements or equity holders’ agreement; provided that, the aggregate amount of Restricted Payments permitted by this clause (vi) after the Closing Date shall not exceed
                  $40,000,000 in any fiscal year with unused amounts in any fiscal year being carried over to succeeding fiscal years plus all net cash proceeds obtained from any key-man life insurance policies received during such fiscal year
                  (without giving effect to the foregoing proviso);

                

                

                (vii)        Holdings may make Restricted Payments in cash to any Parent Entity:

                

                

                (A)         the proceeds of which shall be used by such Parent Entity to pay Taxes of Holdings,
                  any other Subsidiary of Holdings or any group that includes Holdings, the Borrower or any other Subsidiary of the Borrower and that files Taxes on a consolidated, combined, affiliated, unitary or similar basis, in each case attributable
                  to the taxable income of Holdings and its Subsidiaries, net of any payment already made by Holdings or its Subsidiaries in respect of such Taxes; provided that Restricted Payments pursuant to this subclause (A) shall not
                  exceed the amount of Taxes that Holdings would have paid if Holdings and its Subsidiaries were a stand-alone taxpayer or stand-alone tax group, reduced by any payment made by Holdings or its Subsidiaries; and provided further
                  that Restricted Payments under this subclause (A) in respect of any Taxes attributable to the income of any Unrestricted Subsidiaries of Holdings may be made only to the extent that such Unrestricted Subsidiaries have made cash
                  payments for such purpose to Holdings or any Restricted Subsidiary;

                

                

                (B)         the proceeds of which shall be used by such Parent Entity to pay (1) its operating expenses incurred in the
                  ordinary course of business and other corporate overhead costs and expenses (including administrative, legal, accounting, tax reporting and similar expenses payable to third parties), that are reasonable and customary and incurred in the
                  ordinary course of business, (2) any reasonable and customary indemnification claims made by directors, officers, members of management, managers, employees or consultants of Holdings (or any parent thereof) attributable to the ownership
                  or operations of any Parent Entity, Holdings and the Restricted Subsidiaries, (3) fees and expenses (x) due and payable by the Borrower or any Restricted Subsidiary and (y) otherwise permitted to be paid by Holdings and the Restricted
                  Subsidiaries under this Agreement and (4) payments that would otherwise be permitted to be paid directly by Holdings or the Restricted Subsidiaries pursuant to Section 6.09(iii) or (v);

                

                

                
                  194

                  
                    

                

                (C)         the proceeds of which shall be used by Holdings (or any Parent Entity) to pay franchise and similar Taxes, other
                  fees and expenses, required to maintain its organizational existence and auditing fees and expenses;

                

                

                (D)         [Reserved]

                

                

                (E)         the proceeds of which shall be used by any Parent Entity to finance any Investment that would be permitted to be
                  made by Holdings or a Restricted Subsidiary pursuant to Section 6.04; provided that (1) such Restricted Payment shall be made substantially concurrently with the closing of such Investment and (2) such Parent Entity shall,
                  immediately following the closing thereof, cause (x) all property acquired (whether assets or Equity Interests) to be contributed to Holdings or any Restricted Subsidiary (any in no event shall any such contribution increase the Available
                  Amount) or (y) the Person formed or acquired to merge into or consolidate with Holdings or any Restricted Subsidiary to the extent such merger or consolidation is permitted by Section 6.03) in order to consummate such Investment,
                  in each case in accordance with the requirements of Section 5.13 and 5.14;

                

                

                (F)         the proceeds of which shall be used to pay customary salary, bonus, severance and other benefits payable to
                  current or former directors, officers, members of management, managers, consultants, independent contractors or employees of Holdings or any Parent Entity to the extent such salaries, bonuses and other benefits are attributable to the
                  ownership or operation of Holdings and the Restricted Subsidiaries;

                

                

                (G)        the proceeds of which shall be used by Holdings (or any Parent Entity) to pay (i) fees and expenses related to any
                  successful or unsuccessful equity issuance or offering or debt issuance, incurrence or offering, disposition or acquisition, Investment or other transaction permitted by this Agreement and (ii) Public Company Costs; and

                

                

                (H)         the proceeds of which shall be used for the payment of insurance premiums to the extent attributable to any Parent
                  Entity, Holdings, the Borrower and its subsidiaries;

                

                

                (viii)      Restricted Payments in an aggregate amount not to exceed the Available Amount that is
                  Not Otherwise Applied as in effect immediately prior to the time of making of such Restricted Payment so long as (x) no Event of Default has occurred and is continuing (or would occur after giving Pro Forma Effect to such action) and (y)
                  the Total Net Leverage Ratio on a Pro Forma Basis is less than or equal to 4.75:1.00, provided that where such Restricted Payment is funded from the Growth Amount, the Total Net Leverage Ratio, on a Pro Forma Basis, is less than
                  or equal to 4.25:1.00;

                

                

                
                  195

                  
                    

                

                (ix)       redemptions in whole or in part of any of its Equity Interests for another class of its Qualified Equity Interests
                  or with proceeds from substantially concurrent equity contributions or issuances of new Qualified Equity Interests (and in no event shall such contribution or issuance so utilized increase the Available Amount); provided that such
                  new Equity Interests contain terms and provisions at least as advantageous to the Lenders in all respects material to their interests as those contained in the Equity Interests redeemed thereby;

                

                

                (x)          [Reserved];

                

                

                (xi)        Holdings may make Restricted Payments to any Parent Entity to enable such Parent Entity to pay cash in lieu of
                  fractional Equity Interests in connection with any dividend, split or combination thereof or any Permitted Acquisition (or other similar Investment);

                

                

                (xii)       following the consummation of a Public Offering after the Closing Date, the payment of Restricted Payments to fund
                  the payment of regular dividends on Holdings’ Equity Interests, in an aggregate amount per annum not to exceed 6.0 % per annum of the aggregate amount of
                  proceeds from such Public Offering received by, or contributed to Holdings, the Borrower or any Restricted Subsidiary;

                

                

                (xiii)      payments made by Holdings or any Restricted Subsidiary in respect of withholding or similar taxes payable upon
                  exercise of Equity Interests by any future, present or former employee, director, officer, manager or consultant (or their respective controlled Affiliates or Permitted Transferees) and any repurchases of Equity Interests deemed to occur
                  upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants or required withholding or similar taxes;

                

                

                (xiv)      additional Restricted Payments; provided that after giving effect to such
                  Restricted Payment on a Pro Forma Basis, the Total Net Leverage Ratio is less than or equal to 3.25:1.00 and there is no continuing Event of Default on the date of declaration;

                

                

                (xv)        [Reserved];

                

                

                (xvi)       [Reserved];

                

                

                (xvii)      [Reserved];

                

                

                (xviii)    Holdings may make Restricted Payments to holders of the common stock of Holdings or any Parent Entity in an amount
                  equal to (a) $40,000,000 per annum plus (b) in any fiscal quarter, up to $0.25 per share for each such fiscal quarter (as such amount shall be appropriately adjusted for any stock, splits,
                  stock dividends, reverse stock splits, stock consolidations and similar transactions provided that the amount permitted to be paid under this clause (xviii) in any fiscal year, or, in the case of clause (b), fiscal quarter may be
                  increased by an amount equal to the difference (if positive) between the permitted amount in a preceding fiscal year or, in the case of clause (b), fiscal quarter and the amount actually used or applied by Holdings during such relevant
                  period;

                

                

                
                  196

                  
                    

                

                (xix)       additional Restricted Payments; provided that (A) such Restricted Payments shall not exceed the greater of
                  $175,000,000 and 20.0% of Consolidated EBITDA for the most recently ended Test Period (less any amounts utilized under Section 6.08(b)(vii) to make Restricted Debt Payments) and (B) there is no continuing Event of Default on the
                  date of declaration; and

                

                

                (xx)        payments made in accordance with a TSA or a TFA to which the Restricted Subsidiary is a party.

                

                

                (b)         Holdings will not, nor will it permit any Restricted Subsidiary to, make or pay, directly or indirectly,
                  any voluntary payment or other distribution (whether in cash, securities or other property) of or in respect of principal of Junior Debt, or any voluntary payment or other distribution (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 Junior Debt, in each case, on or prior to date that occurs earlier than one year prior
                  to the scheduled maturity date thereof (collectively, “Restricted Debt Payments”), except:

                

                

                (i)          [reserved];

                

                

                (ii)         refinancings or exchanges of Junior Debt with proceeds of Permitted Refinancing Indebtedness, in each case, to
                  the extent such Indebtedness is permitted to be incurred under Section 6.01;

                

                

                (iii)      (1) the conversion of any Junior Debt to, or payments with, Equity Interests (other than Disqualified Equity
                  Interests unless permitted to be incurred under Section 6.01) of Holdings or any of its direct or indirect parent companies and (2) mandatory redemptions of Disqualified Equity Interests;

                

                

                (iv)         prepayments, redemptions, purchases, defeasances and other payments or distributions
                  in respect of Junior Debt prior to their scheduled maturity in an aggregate amount not to exceed the Available Amount that is Not Otherwise Applied as in effect immediately prior to the time of making of such Restricted Debt Payment, so
                  long as (x) no Event of Default has occurred and is continuing (or would occur after giving Pro Forma Effect to such action) and (y) the Total Net Leverage Ratio on a Pro Forma Basis is less than or equal to
                  4.75:1.00, provided that where such Restricted Debt Payment is funded from the Growth Amount, the Total Net Leverage Ratio, on a Pro Forma Basis, is less than or equal to 4.25:1.00;

                

                

                (v)        prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Debt prior to their
                  scheduled maturity; provided that after giving effect to such prepayment, redemption, purchase, defeasance or other payment (A) on a Pro Forma Basis, the Total Net Leverage Ratio is less than or equal to 3.75:1.00 as of the end of
                  the most recently ended Test Period as of such time and (B) there is no continuing Event of Default;

                

                

                
                  197

                  
                    

                

                (vi)       prepayments, redemptions, purchases, defeasances and other payments or distributions in respect of Junior
                  Indebtedness owing by Holdings or any Restricted Subsidiary to Holdings or any Restricted Subsidiary;

                

                

                (vii)      prepayments, redemptions, purchases, defeasances and other payments or distributions in respect of Junior
                  Indebtedness; provided that (A) such Restricted Debt Payments shall not exceed the greater of $175,000,000 and 20.0% of Consolidated EBITDA for the most recently ended Test Period (less any amounts utilized under Section
                    6.08(a)(xix) to may Restricted Payments) and (B) there is no continuing Event of Default on the date of declaration; and

                

                

                (viii)       payments as part of an applicable high yield discount obligation or AHYDO catch-up payment.

                

                

                (c)       Holdings will not, nor will it permit any Restricted Subsidiary to, amend or modify its Organizational Documents or any documentation
                  governing any Junior Debt, in each case if the effect of such amendment or modification (when taken as a whole) is materially adverse to the Lenders.

                

                

                Notwithstanding anything herein to the contrary, the foregoing provisions of this Section 6.08 will not prohibit the payment of any Restricted Payment or the consummation of any
                  irrevocable redemption, purchase, defeasance or other payment within 60 days after the date of declaration of such Restricted Payment or the giving of irrevocable notice of such redemption, purchase, defeasance or other payment, as
                  applicable, if at the date of declaration or the giving of such notice such payment would have complied with the provisions of this Agreement.

                

                

                SECTION 6.09  Transactions with Affiliates. 
                  Holdings will not, nor will it permit any Restricted Subsidiary 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 in excess of $25,000,000, except:

                

                

                (i)          transactions with Holdings or any Restricted Subsidiary (or any entity that becomes a Restricted Subsidiary as a
                  result of such transaction);

                

                

                (ii)         on terms substantially as favorable to Holdings or such Restricted Subsidiary as would be obtainable by such
                  Person at the time in a comparable arm’s-length transaction with a Person other than an Affiliate;

                

                

                (iii)         transactions, the payment of fees and expenses related to the Transactions;

                

                

                (iv)         issuances of Equity Interests of Holdings or the Borrower to the extent otherwise permitted by this Agreement;

                

                

                (v)         (1) employment, consulting, severance and other service or benefit related
                  arrangements between Holdings, the Borrower and the Restricted Subsidiaries and their respective officers and employees in the ordinary course of business (including loans and advances pursuant to Sections 6.04(c) and 6.04(q),
                  salary or guaranteed payments and bonuses) and transactions pursuant to stock option and other equity award plans and employee benefit plans and arrangements in the ordinary course of business and (2) transactions in existence on the
                  Closing Date and described in the 10-K filed by Holdings on February 23, 2021 or set forth on Schedule 6.09 and any amendment, modification or extension thereof to the extent such amendment, modification or extension, taken as a
                  whole, is not (i) materially adverse to the Lenders or (ii) more disadvantageous to the Lenders than the relevant transaction in existence on the Closing Date;

                

                

                
                  198

                  
                    

                

                (vi)         payments by Holdings and the Restricted Subsidiaries pursuant to tax sharing agreements and tax funding
                  agreements among Holdings (and any Parent Entity), the Borrower and the Restricted Subsidiaries on customary terms to the extent attributable to the ownership or operation of the Borrower and the Restricted Subsidiaries, to the extent
                  payments are permitted by Section 6.08;

                

                

                (vii)     the payment of customary compensation and reasonable out-of-pocket costs to, and indemnities provided on behalf of,
                  directors, officers, consultants and employees of Holdings (or any Parent Entity), the Borrower and the Restricted Subsidiaries in the ordinary course of business to the extent attributable to the ownership or operation of the Borrower
                  and the Restricted Subsidiaries;

                

                

                (viii)      [Reserved];

                

                

                (ix)         Restricted Payments permitted under Section 6.08;

                

                

                (x)          [Reserved];

                

                

                (xi)       the issuance or transfer of Equity Interests (other than Disqualified Equity Interests) of Holdings to any former,
                  current or future director, manager, officer, employee or consultant (or spouses, former spouses, successors, heirs, legatees, distributes or Affiliates of any of the foregoing) of the Borrower, any of the Subsidiaries or any direct or
                  indirect parent of any of the foregoing;

                

                

                (xii)        [Reserved];

                

                

                (xiii)       transactions in connection with any Permitted Receivables Financing;

                

                

                (xiv)      any transaction in respect of which Holdings delivers to the Administrative Agent a letter addressed to the Board
                  of Directors of Holdings from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such transaction is on terms that are no less favorable to Holdings or the applicable Restricted Subsidiary
                  than might be obtained at the time in a comparable arm’s length transaction from a Person who is not an Affiliate;

                

                

                (xv)       (A) Guarantees permitted by Section 6.01 or Section 6.04 and (B) Investments permitted by Sections

                    6.04(s), 6.04(t), 6.04(bb) and 6.04(cc);

                

                

                (xvi)      transactions with customers, clients, joint venture partners, suppliers or purchasers or sellers of goods or
                  services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Agreement that are fair to the Borrower and the Restricted Subsidiaries, in the reasonable determination of the Board of
                  Directors or the senior management of the Borrower, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party; and

                

                

                
                  199

                  
                    

                

                (xvii)    the payment of reasonable out-of-pocket costs and expenses and indemnities to equity holders of any Parent Entity of
                  Holdings pursuant to any stockholders’ agreement.

                

                

                SECTION 6.10    Restrictions on Subsidiary Distributions.  Holdings will not, nor will it permit any Restricted Subsidiary to,
                  create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Restricted Subsidiary of Holdings to (a) pay dividends or make any other distributions on any of
                  such Restricted Subsidiary’s Equity Interests owned by Holdings or any other Restricted Subsidiary of Holdings, (b) repay or prepay any Indebtedness owed by such Restricted Subsidiary to Holdings or any other Restricted Subsidiary of
                  Holdings, (c) make loans or advances to Holdings or any other Restricted Subsidiary of Holdings, or (d) transfer, lease or license any of its property or assets to Holdings or any other Restricted Subsidiary of Holdings other than
                  restrictions:

                

                

                (i)        in agreements evidencing any Indebtedness or Disqualified Stock permitted by (and any Permitted Refinancings of) Sections

                    6.01(a)(v), 6.01(a)(vii) (to the extent imposing restrictions solely on the Restricted Subsidiaries acquired in an Acquisition Transaction or other Investment described therein), 6.01(a)(viii), 6.01(a)(xiv),
                  6.01(a)(xix), Section 6.01(a)(xxi), Section 6.01(a)(xxii), 6.01(a)((xxiii), 6.01(a)(xxiv), 6.01(a)(xxv) and 6.01(a)(xxix);

                

                

                (ii)        in any other agreement or instrument governing any Indebtedness, Disqualified Stock or permitted to be incurred or
                  issued pursuant to Section 6.01 entered into after the Closing Date that contains encumbrances and restrictions that either (1) are no more restrictive in any material respect, taken as a whole, with respect to the Borrower or any
                  Restricted Subsidiary than (A) the restrictions contained in the Loan Documents as of the Closing Date or (B) those encumbrances and other restrictions that are in effect on the Closing Date with respect to the Borrower or that Restricted
                  Subsidiary pursuant to agreements in effect on the Closing Date, (2) are not materially more disadvantageous, taken as a whole, to the Lenders than is customary in comparable financings for similarly situated issuers or (3) will not
                  materially impair the Borrower’s ability to make payments on the Secured Obligations when due, in each case in the good faith judgment of the Borrower,

                

                

                (iii)       by reason of customary provisions restricting assignments, subletting or other transfers contained in leases,
                  licenses, joint venture agreements and similar agreements entered into in the ordinary course of business,

                

                

                (iv)       that are or were created by virtue of any transfer of, agreement to transfer or option or right with respect to any
                  property, assets or Equity Interests not otherwise prohibited under this Agreement; or

                

                

                
                  200

                  
                    

                

                (v)          described on Schedule 6.11 or described in the 10-K filed by Holdings on February 23, 2021.

                

                

                SECTION 6.11    Sale Leasebacks.  Holdings will not, nor will it permit any Restricted Subsidiary to, directly or indirectly, become
                  or remain liable as lessee or as a guarantor or other surety with respect to any Sale Leaseback unless (a) any Disposition with respect thereto is permitted under Section 6.05 and (b) any Indebtedness with respect thereto is
                  permitted under Section 6.01.

                

                

                SECTION 6.12    Financial Covenant.

                

                

                (a)          If on the last day of any Test Period (commencing with the Test Period ending June 30, 2021) there are outstanding Revolving Loans
                  and Letters of Credit (excluding (a) undrawn Letters of Credit, (b) Letters of Credit (whether drawn or undrawn) to the extent reimbursed, Cash Collateralized or backstopped on terms reasonably acceptable to the applicable L/C Issuer Bank
                  and (c) solely for the first two full fiscal quarters ending after the Closing Date, any Closing Date Revolving Borrowings drawn to finance the payment of Transaction Costs) in an aggregate principal amount exceeding 35% of the aggregate
                  principal amount of all Revolving Commitments under all outstanding Revolving Facilities (including any Incremental Revolving Facilities), the Borrower shall not permit the First Lien Net Leverage Ratio as of the last day of such Test
                  Period to be greater than 4.75 to 1.00 (such compliance to be determined on the basis of the financial information delivered to the Administrative Agent pursuant to Section 5.01(a) and Section 5.01(b) for such Test Period)
                  (the “Financial Covenant”).

                

                

                (b)          The provisions of this Section 6.12 are for the benefit of the Revolving Lenders only and the Required Facility Lenders in
                  respect of the Revolving Facility may amend, waive or otherwise modify this Section 6.12 or the defined terms used in this Section 6.12 (solely in respect of the use of such defined terms in this Section 6.12) or
                  waive any Default or Event of Default resulting from a breach of this Section 6.12 without the consent of any Lenders other than the Required Facility Lenders in respect of the Revolving Facility. Any Default or Event of Default
                  under the provisions of this Section 6.12 will not by itself constitute a Default or Event of Default under any Facility (other than the Revolving Facility) and will not trigger a cross-default thereunder.

                

                

                Article VII

                

                

                EVENTS OF DEFAULT

                

                

                SECTION 7.01    Events of Default.  If any of the following events (any such event, an “Event of Default”)
                  shall occur:

                

                

                (a)          Non-Payment. Any Loan Party shall fail to pay any interest or principal on any Loan or any fee
                  or any other amount payable under any Loan Document, when and as the same shall become due and payable and in the currency required hereunder, and such failure shall continue unremedied (i) with respect to the payment of interest, for a
                  period of five Business Days and (ii) with respect to the payment of any fee or other amount (other than principal), for a period of ten Business Days;

                

                

                
                  201

                  
                    

                

                (b)         Representations and Warranties. Any representation or warranty made or deemed made by or on
                  behalf of Holdings, the Borrower, any Restricted Subsidiary in or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document
                  furnished pursuant to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made.

                

                

                (c)        Specific Covenants. Holdings, the Borrower, any Restricted Subsidiary shall fail to observe or
                  perform any covenant, condition or agreement contained in Section 5.02(a), 5.04 (with respect to the existence of Holdings and the Borrower) or in Article VI; provided that the Borrower’s failure to comply with the
                  Financial Covenant or a breach of a financial maintenance covenant under any Incremental Revolving Commitments or any revolving facility that constitutes Credit Agreement Refinancing Indebtedness (each, a “Financial Covenant Event of
                    Default”) shall not constitute an Event of Default with respect to any Term Loans or Term Commitments unless and until a period of thirty (30) consecutive days has elapsed since the first date on which the Required Facility Lenders
                  for the Revolving Facilities have actually terminated all Revolving Commitments and, at the end of such thirty (30) consecutive day period, the Required Facility Lenders for the Revolving Facilities have declared all Secured Obligations
                  with respect to the applicable Revolving Facility to be immediately due and payable pursuant to Section 7.01 as a result of such Financial Covenant Event of Default (and such declaration has not been rescinded as of the applicable
                  date) (the occurrence of such termination and declaration by the Required Facility Lenders for the Revolving Facilities, a “Financial Covenant Cross Default”); provided, further, that any Financial Covenant Event of Default is
                  subject to cure pursuant to Section 7.03;

                

                

                (d)        Other Defaults. any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan
                  Document (other than those specified in clause (a) or (c) of this Section), and such failure shall continue unremedied for a period of 30 days after written notice thereof from the Administrative Agent to Holdings;

                

                

                (e)          [Reserved];

                

                

                (f)          Cross Default. Holdings or any Restricted Subsidiary shall fail to make any payment (whether of
                  principal or interest and regardless of amount) under any Material Indebtedness or any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with all
                  applicable grace periods having expired) 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 (i) secured Indebtedness that becomes due as a result of the sale, transfer or other disposition
                  (including as a result of a voluntary Disposition or a casualty or condemnation event) of the property or assets securing such Indebtedness (to the extent such sale, transfer or other disposition is not prohibited under this Agreement) or
                  (ii) termination events or similar events occurring under any Swap Agreement that constitutes Material Indebtedness; provided that such default has not been waived by the holders of such Indebtedness;

                

                

                
                  202

                  
                    

                

                (g)         Involuntary Insolvency Proceedings, etc. (i) Other than in the case of Holdings or any
                  Significant Subsidiary incorporated in or established under the Laws of England and Wales, an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (x) administration, liquidation, provisional
                  liquidation, dissolution, winding-up, court protection, reorganization  (including, without limitation, by way of voluntary arrangement, scheme of arrangement or otherwise) or other relief in respect of Holdings, the Borrower or any
                  Significant Subsidiary or its debts, or of a material part of its assets, under any Federal, state or foreign bankruptcy, insolvency, administration, receivership or similar law now or hereafter in effect,  and (y) the appointment of an
                  administrator, receiver, receiver and manager, trustee, custodian, examiner, sequestrator, conservator, controller, managing controller, liquidator or provisional liquidator, monitor or similar official for Holdings, the Borrower or any
                  Significant Subsidiary or for a material part of its assets, and, in any such case of clause (x) or (y), such proceeding or petition shall continue undismissed or unstayed for 60 consecutive days or an order or decree approving or
                  ordering any of the foregoing shall be entered and (ii) in the case of any of Holdings or any Significant Subsidiary incorporated in or established under the laws of England and Wales (x) any legal proceedings or other procedure or step
                  is taken in relation to the suspension of payments, a moratorium of any indebtedness, winding-up dissolution, administration, receivership or reorganization (whether by a scheme of arrangement or otherwise) or compromise, composition or
                  assignment with creditors or (y) the appointment of an administrator, administrative receiver, receiver, trustee, custodian, examiner, sequestrator, conservator, monitor or similar official for any such Significant Subsidiary or for a
                  material part of its assets, in each case, excluding any proceedings which are frivolous or vexatious and which, if capable of remedy, are discharged, stayed or dismissed within 21 days of commencement (or such other period as agreed
                  between the Borrower and the Administrative Agent);

                

                

                (h)         Voluntary Insolvency Proceeding; etc. Holdings, the Borrower or any Significant Subsidiary shall
                  (i) voluntarily commence any proceeding or file any petition seeking administration, liquidation, provisional liquidation, dissolution, winding-up, court protection, reorganization, moratorium or other relief under any Federal, state or
                  foreign bankruptcy, insolvency, administration, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, any proceeding or petition described in clause (g) of this Section, (iii) apply for or
                  consent to the appointment of an administration, receiver, receiver and manager, trustee, examiner, custodian, sequestrator, conservator, controller, managing controller, liquidator or provisional liquidator, monitor or similar official
                  for Holdings, the Borrower or any Significant Subsidiary or for a material part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding or (v) make a general assignment
                  for the benefit of creditors;

                

                

                (i)          Judgements. One or more enforceable judgments for the payment of money in an aggregate amount in
                  excess of $75,000,000 (to the extent not covered by insurance as to which the insurer has been notified of such judgment or order and has not denied its obligation) shall be rendered against any Loan Party or any combination thereof and
                  the same shall remain unpaid, undischarged, unvacated, unbonded or unstayed pending appeal for a period of 60 consecutive days;

                

                

                
                  203

                  
                    

                

                (j)          ERISA. (i) an ERISA Event occurs that has resulted or could reasonably be expected to result, individually or together with
                  all other ERISA Events that have occurred or are reasonably expected to occur, in liability of Holdings, the Borrower or any Restricted Subsidiary under Title IV of ERISA with respect to a Plan or under non-U.S. law with respect to a
                  Foreign Pension Plan in an aggregate amount that could reasonably be expected to result in a Material Adverse Effect or (ii) any of Holdings, the Borrower or any Restricted Subsidiary or any ERISA Affiliate fails to pay when due, after
                  the expiration of any applicable grace period, any installment payment with respect to its Withdrawal Liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount that could reasonably be expected to result in a
                  Material Adverse Effect;

                

                

                (k)         Collateral Agreements. Any Lien purported to be created under any Collateral Agreement over Collateral that individually or
                  taken together with any other Collateral has an aggregate fair market value in excess of $50,000,000, shall cease to be, or shall be asserted by any Loan Party in writing not to be, a valid and perfected Lien on any material portion of
                  the Collateral, except (i) as a result of the sale or other disposition of the applicable Collateral to a Person that is not a Loan Party in a transaction permitted under the Loan Documents, (ii) as a result of the Administrative Agent’s
                  failure to (A) maintain possession of any stock certificates, promissory notes or other instruments delivered to it under the Collateral Agreements or (B) file Uniform Commercial Code continuation statements or (iii) as to Collateral
                  consisting of real property, to the extent that such losses are covered by a lender’s title insurance policy and such insurer has not denied coverage;

                

                

                (l)          Invalidity of Loan Documents.  This Agreement, any Collateral Agreement or any Guarantee of the Secured Obligations shall for
                  any reason not be (or asserted by any Loan Party in writing not to be) a legal, valid and binding obligation of any Loan Party party thereto other than as expressly permitted hereunder or thereunder; or

                

                

                (m)         Change in Control. There occurs a Change in Control;

                

                

                then, and in every such event (other than an event with respect to Holdings or the Borrower described in clause (g) or (h) of this Section), and at any time thereafter during the continuance
                  of such Event of Default, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to Holdings, 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) terminate the obligation of the L/C Issuers to make L/C Credit Extensions, (iii) require that the Borrower Cash Collateralize the then outstanding Letters of Credit (in an amount
                  equal to the then Outstanding Amount thereof) and (iv) declare the Loans then outstanding to be due and payable in whole (or in part, (but ratably as among Classes of Loans and the Loans of each Class at the time outstanding) in which
                  case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees
                  and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, in each case without presentment, demand, protest or other notice of any kind, all of which are hereby waived by Holdings, the Borrower and
                  each other Loan Party; and in the case of any event with respect to Holdings or the Borrower described in clause (g) or (h) of this Section, the Commitments and the obligations of each L/C Issuer issue Letters of Credit
                  shall automatically terminate, and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall immediately and automatically become due
                  and payable and the obligation of the Borrower to Cash Collateralize the Letters of Credit as aforesaid will automatically become effective, in each case without presentment, demand, protest or other notice of any kind, all of which are
                  hereby waived by Holdings, the Borrower and each other Loan Party.

                

                

                
                  204

                  
                    

                

                SECTION 7.02  Application of Proceeds. 
                  Subject to any Intercreditor Agreement, after the exercise of remedies provided for in Section 7.01, any amounts received on account of the Secured Obligations shall be applied by the Administrative Agent in the following order:

                

                

                first, to payment of that portion of the Secured Obligations constituting fees,
                    indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Sections 2.17 and 2.23) payable to the Administrative Agent in its
                    capacity as such;

                

                

                second, to payment of that portion of the Secured Obligations constituting fees,
                    indemnities and other amounts payable to the Lenders (including fees, charges and disbursements of counsel to the respective Lenders arising under the Loan Documents and amounts payable under Section 2.17 and 2.23 and
                    not specifically referred to in clauses third and fourth below), ratably among them in proportion to the respective amounts described in this clause Second payable to them;

                

                

                third, to payment of that portion of the Secured Obligations constituting accrued
                    and unpaid interest on the Loans, L/C Borrowings and other Secured Obligations arising under the Loan Documents, ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them;

                

                

                fourth, to payment of that portion of the Secured Obligations constituting
                    unpaid principal of the Loans and L/C Borrowings, and Secured Swap Obligations and Secured Cash Management Obligations, ratably among the Lenders and counterparties referred to in the definitions of Secured Swap Obligations and Secured
                    Cash Management Obligations that are parties thereto in proportion to the respective amounts described in this clause Fourth payable to them;

                

                

                fifth, to the payment of all other Secured Obligations of the Loan Parties that
                    are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Secured Obligations owing to the Administrative Agent and the other Secured
                    Parties on such date; and

                

                

                last, the balance, if any, after the Secured Obligations have been paid in full,
                    as may otherwise be required by any Intercreditor Agreement and, thereafter, to the Borrower or as otherwise required by Law.

                

                

                Notwithstanding the foregoing, Excluded Swap Obligations with respect to any Guarantor shall not be paid with amounts received from such Guarantor or its assets, but appropriate
                  adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to Secured Obligations otherwise set forth in the Loan Documents.

                

                

                
                  205

                  
                    

                

                SECTION 7.03    Right to Cure.

                

                

                (a)         Notwithstanding anything to the contrary contained in Section 7.01, but subject to Sections 7.03(b) and (c),
                  for the purpose of determining whether an Event of Default under the Financial Covenant has occurred, Holdings may on one or more occasions designate any portion of the Net Proceeds from any sale of Qualified Equity Interests of Holdings
                  or of any contribution to the common equity capital of Holdings (or from any other contribution to capital or sale or issuance of any other Equity Interests on terms reasonably satisfactory to the Administrative Agent) (the “Cure
                    Amount”) as an increase to Consolidated EBITDA of Holdings and its Restricted Subsidiaries for the applicable fiscal quarter; provided that:

                

                

                (i)         such amounts to be designated are actually received by Holdings (i) on or after the first Business Day of the
                  applicable fiscal quarter and (ii) on or prior to the 15 Business Day after the date on which financial statements are required to be delivered with respect to such applicable fiscal quarter (the “Cure Expiration Date”);

                

                

                (ii)         such amounts to be designated do not exceed the maximum aggregate amount necessary to cure any Event of Default
                  under the Financial Covenant as of such date; and

                

                

                (iii)        the Borrower will have provided notice to the Administrative Agent on the date such amounts are designated as a
                  “Cure Amount” (it being understood that to the extent such notice is provided in advance of delivery of a Compliance Certificate for the applicable period, the amount of such Net Proceeds that is designated as the Cure Amount may be lower
                  than specified in such notice to the extent that the amount necessary to cure any Event of Default under the Financial Covenant is less than the full amount of such originally designated amount).

                

                

                The Cure Amount used to calculate Consolidated EBITDA for one fiscal quarter will be used and included when calculating Consolidated EBITDA for each Test Period that
                  includes such fiscal quarter. The parties hereby acknowledge that this Section 7.03(a) may not be relied on for purposes of calculating any financial ratios other than as applicable to the Financial Covenant (and may not be
                  included for purposes of determining pricing, mandatory prepayments and the availability or amount permitted pursuant to any covenant under Article VI) and may not result in any adjustment to any amounts (including the amount of
                  Indebtedness) or increase in cash with respect to the fiscal quarter with respect to which such Cure Amount was received other than the amount of the Consolidated EBITDA referred to in the immediately preceding sentence, except to the
                  extent such proceeds are applied to prepay Indebtedness under the Facilities. Notwithstanding anything to the contrary contained in Section 7.01 and Section 7.02, (x) upon designation of the Cure Amount by the Borrower in
                  an amount necessary to cure any Event of Default under the Financial Covenant, the Financial Covenant will be deemed satisfied and complied with as of the end of the relevant fiscal quarter with the same effect as though there had been no
                  failure to comply with the Financial Covenant and any Event of Default under the Financial Covenant (and any other Default as a result thereof) will be deemed not to have occurred for purposes of the Loan Documents, (y) from and after the
                  date that the Borrower delivers a written notice to the Administrative Agent that it intends to exercise its cure right under this Section 7.03 (a “Notice of Intent to Cure”) neither the Administrative Agent nor any Lender
                  may exercise any rights or remedies under any Loan Document on the basis of any actual or purported Event of Default under the Financial Covenant (and any other Default as a result thereof) until and unless the Cure Expiration Date has
                  occurred without the Cure Amount having been designated and (z) no Lender or L/C Issuer shall be required to (but in its sole discretion may) make any Revolving Loan or make a L/C Credit Extension from and after such time as the
                  Administrative Agent has received the Notice of Intent to Cure unless and until the Cure Amount is actually received.

                

                

                
                  206

                  
                    

                

                (b)         In each period of four consecutive fiscal quarters, there shall be no more than two (2) fiscal quarters in which the cure right set
                  forth in Section 7.03(a) is exercised.

                

                

                (c)          There shall be no more than five (5) fiscal quarters in which the cure rights set forth in Section 7.03(a) are exercised
                  during the term of the Facilities.

                

                

                Article VIII

                

                

                THE ADMINISTRATIVE AGENT

                

                

                Each of the Lenders hereby irrevocably appoints (x) Bank of America, N.A. at all times prior to the satisfaction of the Agency Succession Conditions and (y) HSBC at all times after the
                  satisfaction of the Agency Succession Conditions to serve as Administrative Agent and Collateral Agent under the Loan Documents, and authorizes the Administrative Agent and Collateral Agent to execute, deliver and administer the Loan
                  Documents and to take such actions and to exercise such powers as are delegated to the Administrative Agent and Collateral Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental
                  thereto.  The provisions of this Article are solely for the benefit of the Administrative Agent, the Collateral Agent and the Lenders, and none of Holdings, the Borrower or any other Loan Party shall have any rights as a third party
                  beneficiary of any such provisions.

                

                

                The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were
                  not the Administrative Agent, and such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with Holdings, the
                  Borrower or any other Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

                

                

                
                  207

                  
                    

                

                The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents.  Without limiting the generality of the foregoing, (a) the
                  Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or
                  to exercise any discretionary power, except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other
                  number or percentage of the Lenders as shall be necessary under the circumstances as provided in the Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion, may expose
                  the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, (c) 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 Holdings, the Borrower, any other Subsidiary or any other 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; and (d) to the extent that English law is applicable to the duties of the Administrative Agent under any of the Loan Documents, Section 1 of the Trustee Act 2000 (UK) shall not apply to the duties
                  of the Administrative Agent in relation to the trusts constituted by this Agreement or the other Loan Documents, where there are inconsistencies or conflict between the Trustee Act 1925 or the Trustee Act 2000 (UK) and the provisions of
                  this Agreement or any other Loan Document, the provisions of this Agreement or such other Loan Document shall, to the extent permitted by applicable law, prevail and, in the case of any inconsistency with the Trustee Act 2000 (UK), the
                  provisions of this Agreement or such other Loan Document shall constitute a restriction or exclusion for the purposes of that Act.  The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or
                  at the request of the Required Lenders (or 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 Section

                    9.02) or 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 nonappealable judgment).  The Administrative
                  Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to it by Holdings, the Borrower, a Lender and the Administrative Agent shall not be responsible for or have any duty to ascertain
                  or inquire into (i) any statement, warranty or representation made in or in connection with 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 validity, enforceability, effectiveness or genuineness of any Loan
                  Document or any other agreement, instrument or document, (v) the existence, value, sufficiency or collectability of any Collateral or creation, perfection or priority of any Lien purported to be created by the Collateral Agreements or
                  (vi) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of 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.  The Administrative Agent shall not be responsible or liable to the Lenders for any failure to monitor or
                  maintain any portion of the Collateral.  Notwithstanding anything herein to the contrary, the Administrative Agent shall not have any liability arising from any confirmation or determination of (x) the Effective Yield or (y) the terms and
                  conditions of any Intercreditor Agreement.

                

                

                The Administrative Agent shall be entitled to rely, and shall not incur any liability for relying, upon any notice, request, certificate, consent, statement, instrument, document or other
                  writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person (including, if applicable, a
                  Responsible Officer or Financial Officer of such Person).  The Administrative Agent also may rely, and shall not incur any liability for relying, upon any statement made to it orally or by telephone and believed by it to be made by the
                  proper Person (including, if applicable, a Financial Officer or a Responsible Officer of such Person), and may act upon any such statement prior to receipt of written confirmation thereof.  In determining compliance with any condition
                  hereunder to the making of a Loan, that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have
                  received notice to the contrary from such Lender prior to the making of such Loan.  The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it,
                  and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

                

                

                
                  208

                  
                    

                

                The Administrative Agent may perform any of and all 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 and all their duties and exercise their 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 in connection with the syndication of the credit facilities
                  provided for herein as well as activities as Administrative Agent.  The Administrative Agent shall not be responsible for the negligence or misconduct of any subagents except to the extent that a court of competent jurisdiction determines
                  in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

                

                

                Each Lender acknowledges that Eligible Assignees hereunder may be Affiliated Lenders and that Affiliated Lenders may purchase (including pursuant to privately negotiated open-market
                  transactions with one or more Lenders that are not made available for participation to all Lenders or all Lenders of a particular Class) Term Loans hereunder from Lenders from time to time, subject to the limitations set forth herein. 
                  Each Lender agrees that the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into whether any Affiliated Lender intends to acquire or has acquired any Term Loan or as to whether any Lender is at
                  any time an Affiliated Lender and that, unless the Administrative Agent shall have received, pursuant to the covenants of such Lender set forth herein or in the Assignment and Assumption pursuant to which such Lender shall have acquired
                  any Term Loan hereunder, prior written notice from any Lender that such Lender is an Affiliated Lender, the Administrative Agent may deal with such Lender (including for purposes of determining the consent, approval, vote or other similar
                  action of the Lenders or the Lenders of any Class), and shall not incur any liability for so doing, as if such Lender were not an Affiliated Lender.

                

                

                Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign upon 10 days’ notice to the Lenders and
                  the Borrower.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the Borrower’s consent (unless a Specified Event of Default has occurred and is continuing), to appoint a successor, which
                  shall be a commercial bank or trust company with an office in the United States, or an Affiliate of any such bank with an office in the United States.  If no such successor shall have been so appointed by the Required Lenders and shall
                  have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders, appoint a
                  successor Administrative Agent meeting the qualifications above (the earlier of the date upon which the retiring Administrative Agent is replaced and the end of such 30 day period, the “Resignation Effective Date”).  If no such
                  successor shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then such resignation shall nonetheless become effective in accordance with such notice on the
                  Resignation Effective Date.

                

                

                
                  209

                  
                    

                

                If the Person serving as Administrative Agent is a Defaulting Lender or is an Affiliate of a Defaulting Lender, the Required Lenders or the Borrower may, to the extent permitted by
                  applicable law, by notice in writing to such Person remove such Person as Administrative Agent upon 10 days’ notice and, with the consent of the Borrower, appoint a successor.  If no such successor shall have accepted such appointment
                  within 30 days (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.

                

                

                With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Administrative Agent shall be discharged from its duties and
                  obligations hereunder and under the other Loan Documents (except (i) that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring or removed
                  Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed and (ii) with respect to any outstanding payment obligations) and (2) except for any indemnity payments
                  or other amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender
                  directly, until such time, if any, as the Required Lenders or the retiring Administrative Agent appoint a successor Administrative Agent as provided for above.  Upon the acceptance of a successor’s appointment as Administrative Agent
                  hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in Section 2.17(h) and other than any
                  rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall
                  be discharged from all of its duties and obligations hereunder and under the other Loan Documents as set forth in this Section.  The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to
                  its predecessor unless otherwise agreed between the Borrower and such successor.  After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and
                  Section 9.03 shall continue in effect for the benefit of such retiring or removed 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 or removed Administrative Agent was acting as Administrative Agent and in respect of the matters referred to under clause (1) above.  Notwithstanding anything to the contrary herein, no Disqualified Lender may be
                  appointed as a successor Administrative Agent without the consent of the Borrower.

                

                

                Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent, any Joint Bookrunner 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.  Each Lender also acknowledges that it will, independently and without
                  reliance upon the Administrative Agent, any Joint Bookrunner or any other Lender, or any of the Related Parties of any of the foregoing, and based on such documents and information as it shall from time to time deem appropriate, continue
                  to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

                

                

                
                  210

                  
                    

                

                Each Lender, by delivering its signature page to this Agreement and funding its Loans on the Closing Date, or delivering its signature page to an Assignment and Assumption, Incremental
                  Facility Amendment or Refinancing Amendment 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 Closing Date.

                

                

                Except with respect to the exercise of setoff rights of any Lender in accordance with Section 9.08 or with respect to a Lender’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 or the Collateral Agent on behalf of the Secured Parties in accordance with the terms thereof.  In the event of a foreclosure by the Administrative Agent or the Collateral
                  Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Administrative Agent, the Collateral Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or
                  other disposition, and the Administrative Agent or the Collateral Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders
                  shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Loan
                  Document Obligations as a credit on account of the purchase price for any collateral payable by the Administrative Agent or the Collateral Agent on behalf of the Secured Parties at such sale or other disposition.  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, to have agreed to the provisions of this Article, Section 9.15 and Section
                    9.17.

                

                

                In furtherance of the foregoing and not in limitation thereof, no Swap Agreement or Cash Management Services the obligations under or in respect of 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 Swap Agreement or a provider of such Cash Management Services shall be deemed to have appointed the Administrative Agent and the Collateral Agent to
                  serve as administrative agent and collateral agent and, in connection with the Loan Documents that are governed by Australian law, Australian Security Trustee the Loan Documents and to have agreed to be bound by the Loan Documents as a
                  Secured Party thereunder, subject to the limitations set forth in this paragraph.

                

                

                Each of the Lenders and other Secured Parties irrevocably authorizes and directs the Administrative Agent and the Collateral Agent to, and the Administrative Agent and Collateral Agent,
                  as applicable, shall (a) release and terminate, or to confirm or evidence any automatic release and termination of, any Guarantees and Liens created under the Loan Documents as provided in Section 9.15 or in any other Collateral
                  Agreement and (b) subordinate, at the request of the Borrower, any Lien on any property granted to or held by the Collateral Agent under any Collateral Agreement to the holder of any Lien on such property that is permitted by Section
                    6.02(iv) or Section 6.02(xxii).

                

                

                
                  211

                  
                    

                

                In case of the pendency of any proceeding with respect to any Loan Party under any federal, state or foreign bankruptcy, insolvency, administration, receivership or similar law now or
                  hereafter in effect, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall
                  have made any demand on the Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

                

                

                (a)          to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
                  Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim under Section 2.12, Section

                    2.15, Section 2.16, Section 2.17 and Section 9.03) allowed in such judicial proceeding; and

                

                

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

                

                

                and any custodian, receiver, receiver and manager, assignee, trustee, liquidator, provisional liquidator, sequestrator, administrator, controller, managing controller or other similar official in any such
                  proceeding is hereby authorized by each Lender 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 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).

                

                

                Notwithstanding anything herein to the contrary, neither any Joint Bookrunner nor any Person named on the cover page of this Agreement or elsewhere herein as a Lead Arranger or a Joint
                  Bookrunner shall have any duties or obligations under this Agreement or any other Loan Document (except in its capacity, as applicable, as a Lender), but all such Persons shall have the benefit of the indemnities provided for hereunder,
                  including under Section 9.03, as fully as if named as an indemnitee or indemnified person therein and irrespective of whether the indemnified losses, claims, damages, liabilities and/or related expenses arise out of, in connection
                  with or as a result of matters arising prior to, on or after the effective date of any Loan Document.

                

                

                To the extent required by any applicable Requirements of Law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. 
                  Without limiting or expanding the provisions of Section 2.17, each Lender shall indemnify the Administrative Agent against, and shall make payable in respect thereof within 30 days after demand therefor, any and all Taxes and any
                  and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the IRS or any other Governmental
                  Authority as a result of the failure of the Administrative Agent to properly withhold tax from amounts paid to or for the account of any Lender for any reason (including, without limitation, because the appropriate form was not delivered
                  or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding tax ineffective, or because of such Lender’s failure to
                  comply with the provisions of Section 9.04 relating to the maintenance of a Participant Register), but in each case only to the extent that any Loan Party has not already indemnified the Administrative Agent for such amounts and
                  without limiting the obligation of the Loan Parties to do so.  A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby
                  authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this paragraph.  The
                  agreements in this paragraph shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all other obligations
                  under any Loan Document.

                

                

                
                  212

                  
                    

                

                Each Lender and other Secured Party hereby appoints the Administrative Agent and Collateral Agent to act as its agent under and in connection with the relevant Collateral Agreements and
                  the Intercreditor Agreement.  Each Agent and Lender appoints the Administrative Agent to act as its agent.

                

                

                All provisions of this Article VIII applicable to the Administrative Agent shall apply to the Collateral Agent and the Collateral Agent shall be entitled to all the benefits and
                  indemnities applicable to the Administrative Agent under this Agreement.

                

                

                Notwithstanding any other provision of this Agreement, each of the Secured Parties hereby appoints the Collateral Agent to act as its trustee under and in relation to the UK Security
                  Documents and to hold the assets subject to the security thereby created as trustee for the Secured Parties on the trusts and other terms contained in the UK Security Documents and each Secured Party hereby irrevocably authorizes the
                  Collateral Agent in its capacity as security trustee of Secured Parties to exercise such rights, remedies, powers and discretions as are specifically delegated to the Collateral Agent as security trustee of the Secured Parties by the
                  terms of the UK Security Documents together with all such rights, remedies, powers and discretions as are reasonably incidental thereto.

                

                

                In this Agreement and the UK Security Documents, any obligations of the Administrative Agent (or any other Person acting in such capacity) in this Agreement and the UK Security
                  Documents shall be obligations of the Collateral Agent in its capacity as security trustee of the Secured Parties to the extent that the obligations relate to the UK Security Documents or the security thereby created.  Additionally, in
                  its capacity as security trustee of the Secured Parties, the Collateral Agent (or any other Person acting in such capacity) shall have (i) all the rights, remedies and benefits of and in favor of the Collateral Agent contained in this
                  Article VIII; (ii) all the powers of an absolute owner of the security constituted by the UK Security Documents and (iii) all the rights, remedies and powers granted to it and be subject to all the obligations and duties owed by it under
                  the UK Security Documents.

                

                

                Any reference in this Agreement to Liens stated to be in favor of the Collateral Agent shall be construed (where applicable) so as to include a reference to Liens granted in favor of the
                  Collateral Agent in its capacity as security trustee of the Secured Parties.

                

                

                
                  213

                  
                    

                

                Article IX

                

                

                MISCELLANEOUS

                

                

                SECTION 9.01   Notices.  Except in the case
                  of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by
                  certified or registered mail or sent by fax, e-mail or other electronic transmission, as follows:

                

                

                (a)         If to Holdings or the Borrower, to c/o Tronox Holdings plc, One Stamford Plaza, 263 Tresser Boulevard, Suite 1100, Stamford,
                  Connecticut 06901, with copies to, which such copies shall not constitute notice, Leonard Klingbaum; 1211 Avenue of the Americas, NY, NY 10036; Phone: 212-596-9757; Email: Leonard.Klingbaum@ropesgray.com.

                

                

                (b)        If to the Administrative Agent, to HSBC Bank USA, National Association, Attention: Ershad Sattar/Daniel Gonzalez, 425 Fifth Avenue,
                  NY, NY 10018; Email: ctlany.loanagency@us.hsbc.com; Facsimile: 917-229-6659.

                

                

                (c)          if to any other Lender, to it at its address (or fax number or email address) set forth in its Administrative Questionnaire.

                

                

                Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other
                  communications sent by fax or other electronic transmission shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of
                  business on the next Business Day for the recipient).

                

                

                Holdings and the Borrower may change their address, email or facsimile number for notices and other communications hereunder by notice to the Administrative Agent, the Administrative
                  Agent may change its address, email or facsimile number for notices and other communications hereunder by notice to Holdings and the Lenders may change their address, email or facsimile number for notices and other communications
                  hereunder by notice to the Administrative Agent.  Notices and other communications to the Lenders hereunder may also be delivered or furnished by electronic transmission (including email and Internet or intranet websites) pursuant to
                  procedures reasonably approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is
                  incapable of receiving notices under such Article by electronic transmission.

                

                

                
                  214

                  
                    

                

                SECTION 9.02    Waivers; Amendments.

                

                

                (a)         No failure or delay by the Administrative Agent or any Lender in exercising any right or power under any 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 and the Lenders hereunder and under the other Loan Documents 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 shall not be construed as a waiver of any Default, regardless of whether the
                  Administrative Agent or any Lender may have had notice or knowledge of such Default at the time.  No waiver or consent in any case shall entitle the Borrower to any other or further waiver or consent in similar or other circumstances.

                

                

                (b)          Except as provided in  Section 9.02(b)(i) through (x) below, Section 9.02(c)
                  and Section 9.02(g), neither any Loan Document nor any provision thereof may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower, the
                  Administrative Agent (to the extent that such waiver, amendment or modification does not affect the rights, duties, privileges or obligations of the Administrative Agent under this Agreement, the Administrative Agent shall execute such
                  waiver, amendment or other modification to the extent approved by the Required Lenders) and the Required Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by the
                  Administrative Agent and/or the Collateral Agent (as applicable) and the  Loan Party or Loan Parties that are parties thereto, and with the consent of the Required Lenders, provided that no such agreement shall:

                

                

                (i)           increase the Commitment of any Lender without the written consent of such Lender (it being understood that a
                  waiver of any condition precedent set forth in Section 4.02 or the waiver of any Default, Event of Default, financial ratio or covenant, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an
                  extension or increase of any Commitment of any Lender),

                

                

                (ii)          reduce the principal amount of any Loan or L/C Advance (it being understood that a waiver of any Default, Event
                  of Default, financial covenant or ratio, mandatory prepayment or mandatory reduction of the Commitments shall not constitute a reduction in principal) or reduce the rate of interest thereon, or reduce any fees or premium payable
                  hereunder, without the written consent of each Lender directly and adversely affected thereby (it being understood that any change to the definition of any ratio used in the calculation of the interest rate or fees therein or in the
                  component definitions thereof shall not constitute a reduction of interest, fees or premium), provided that only the consent of the Required Lenders shall be necessary to waive any obligation of the Borrower to pay default
                  interest pursuant to Section 2.13(c),

                

                

                (iii)        postpone the maturity of any Loan (it being understood that a waiver of any Default, Event of Default, financial
                  covenant or ratio, mandatory prepayment or mandatory reduction of the Commitments shall not constitute a postponement of any maturity date), or the date of any scheduled amortization payment of the principal amount of any Loan under Section

                    2.10 or the applicable Incremental Facility Amendment or Refinancing Amendment, or any date for the payment of any interest or fees payable hereunder, or postpone the scheduled date of expiration of any Commitment, without the
                  written consent of each Lender directly and adversely affected thereby,

                

                

                
                  215

                  
                    

                

                (iv)       change any of the provisions of this Section or the percentage set forth in the definition of “Required Lenders”,
                  “Required Facility Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any right thereunder or make any determination or grant any consent thereunder,
                  without the written consent of each Lender directly and adversely affected thereby,

                

                

                (v)         release all or substantially all the value of the Guarantees under the Guarantee Agreement (except as expressly
                  provided in the Loan Documents), without the written consent of each Lender (other than a Defaulting Lender), (vi) release all or substantially all the Collateral from the Liens of the Collateral Agreements (except as expressly provided
                  in the Loan Documents), without the written consent of each Lender (other than a Defaulting Lender),

                

                

                (vi)       waive, amend or modify Section 7.02 in a manner that would by its terms alter the application of proceeds,
                  in each case, without the written consent of each Lender directly and adversely affected thereby,

                

                

                (vii)       amend, waive or otherwise modify any term or provision (including the waiver of any conditions set forth in Section

                    4.02 as to any Credit Extension under one or more Revolving Facilities) which directly affects Lenders under one or more Revolving Facilities and does not directly affect Lenders under any other Facilities, in each case, without the
                  written consent of the Required Facility Lenders under such applicable Revolving Facility or Facilities with respect to Revolving Commitments (and in the case of multiple Facilities which are affected, such Required Facility Lenders shall
                  consent together as one Facility); provided, however, that the waivers described in this clause (g) shall not require the consent of the Required Lenders
                  or any other Lenders other than the Required Facility Lenders under the applicable Revolving Facility or Facilities;

                

                

                (viii)     amend, waive or otherwise modify the Financial Covenant or any definition related thereto (solely in respect of the
                  use of such defined terms in the Financial Covenant) or waive any Default or Event of Default resulting from a failure to perform or observe the Financial Covenant) without the written consent of the Required Facility Lenders under the
                  applicable Revolving Facility or Facilities with respect to Revolving Commitments (such Required Facility Lenders shall consent together as one Facility); provided, however, that the amendments, waivers and other modifications described in this clause (viii) shall not require the consent of the Required Lenders or any other Lenders other than the Required Facility Lenders under the
                  applicable Revolving Facility or Facilities;

                

                

                (ix)        amend, modify or otherwise affect the rights or duties of the Administrative Agent, without the prior written
                  consent of the Administrative Agent; and

                

                

                (x)         amend, modify or otherwise affect the rights or duties of the L/C Issuers, without the prior written consent of
                  each L/C Issuer directly and adversely affected thereby.

                

                

                (c)          Notwithstanding the foregoing:

                

                

                
                  216

                  
                    

                

                (i)          this Agreement and the other Loan Documents may be amended pursuant to an Incremental Facility Amendment with
                  only the consent of the Borrower, each Incremental Lender and the Administrative Agent to establish any Incremental Facility in accordance with Section 2.20;

                

                

                (ii)         this Agreement and the other Loan Documents may be amended pursuant to Refinancing Amendment with only the
                  consent of the Borrower, the Administrative Agent, each Additional Lender and each Lender that is providing a portion of the Credit Agreement Refinancing Indebtedness being incurred in connection with such Refinancing Amendment to
                  establish any Class of Other Loans consisting of Credit Agreement Refinancing Indebtedness in accordance with Section 2.21;

                

                

                (iii)        the Agreement and the other Loan Documents may be amended pursuant to a Permitted Amendment with only the consent
                  of the Borrower, the Administrative Agent and each Accepting Lender to establish any Class of Other Loans in accordance with Section 2.24;

                

                

                (iv)        Any waiver, amendment or modification of this Agreement that by its terms affects the rights or duties under this
                  Agreement of Lenders holding Loans or Commitments of a particular Class (but not the Lenders holding Loans or Commitments of any other Class) may be effected by an agreement or agreements in writing entered into by Holdings, the Borrower
                  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;

                

                

                (v)         this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders and
                  Holdings (i) 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 (and to the extent such credit facilities are pari passu in right of payment and security with any existing Loans, to share ratably in prepayments with such Loans) and (ii) to
                  include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders on substantially the same basis as the Lenders prior to such inclusion;

                

                

                (vi)        this Agreement and the other Loan Documents may be amended or supplemented by an agreement or agreements in
                  writing entered into by the Administrative Agent and Holdings or any Loan Party as to which such agreement or agreements is to apply, without the need to obtain the consent of any Lender, to include “parallel debt” or similar provisions,
                  and any authorizations or granting of powers by the Lenders and the other Secured Parties in favor of the Administrative Agent, in each case required to create in favor of the Administrative Agent any security interest contemplated to be
                  created under this Agreement, or to perfect any such security interest, where the Administrative Agent shall have been advised by its counsel that such provisions are necessary or advisable under local law for such purpose (with Holdings
                  hereby agreeing to, and to cause its subsidiaries to, enter into any such agreement or agreements upon reasonable request of the Administrative Agent promptly upon such request); and

                

                

                
                  217

                  
                    

                

                (vii)     the Loan Documents and any guarantees, collateral security documents and related documents executed by Restricted
                  Subsidiaries in connection with this Agreement may be in a form reasonably determined by the Administrative Agent and may be, together with this Agreement, amended, supplemented and waived with the consent of the Administrative Agent at
                  the request of Holdings without the need to obtain the consent of any Lender if such amendment, supplement or waiver is delivered in order (i) to comply with local Requirements of Law or advice of local counsel or (ii) to cure
                  ambiguities, omissions, mistakes or defects.

                

                

                (d)        In connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”)

                  requiring the consent of all Lenders (or all Lenders of a Class) or all directly and adversely affected Lenders (or all directly and adversely affected Lenders of a Class), if the consent of the Required Lenders (or a Required Facility
                  Lenders of the applicable Class) to such Proposed Change is obtained, but the consent to such Proposed Change of other Lenders whose consent is required is not obtained (any such Lender whose consent is not obtained as described in
                  paragraph (d) of this Section being referred to as a “Non-Consenting Lender”), then the Borrower may, at its sole expense and effort, upon notice to such Non-Consenting Lender and the Administrative Agent, (x) terminate the
                  applicable Commitments of such Lender, and repay all obligations of the Borrower owing to such Lender relating to the applicable Loans and participations held by such Lender as of the termination date or (y) require such Non-Consenting
                  Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement to an Eligible Assignee that shall
                  assume such obligations (which Eligible Assignee may be another Lender, if a Lender accepts such assignment), provided that (a) in the case of clause (y) above, the Borrower shall have received the prior written consent of
                  the Administrative Agent to the extent such consent would be required under Section 9.04(b) for an assignment of Loans or Commitments, as applicable, which consent shall not unreasonably be withheld, (b) such Non-Consenting Lender
                  shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts (including any amounts under Section 2.12(d)) payable to it hereunder from the
                  Borrower or Eligible Assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (c) in the case of clause (y) above, unless waived, the Borrower or
                  such Eligible Assignee shall have paid to the Administrative Agent the processing and recordation fee specified in Section 9.04(b).

                

                

                (e)          Notwithstanding anything in this Agreement or the other Loan Documents to the contrary the Loans and Commitments of any Lender that
                  is at the time (i) an Affiliated Lender or (ii) a Defaulting Lender shall not have any voting or approval rights under the Loan Documents and shall be excluded in determining whether all Lenders (or all Lenders of a Class), all affected
                  Lenders (or all affected Lenders of a Class) or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to this Section 9.02); provided that any waiver,
                  amendment or modification requiring the consent of all Lenders (or all Lenders of a Class) or all affected Lenders (or all affected Lenders of a Class) that affects any Defaulting Lender more adversely than other affected Lenders shall
                  require the consent of such Defaulting Lender (other than in accordance with Section 9.02(b)(v).

                

                

                
                  218

                  
                    

                

                (f)          Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, each Affiliated Lender hereby agrees that,
                  if a proceeding under the United States Bankruptcy Code or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law shall be commenced by or against the Borrower or any other Loan Party at a time when such
                  Lender is an Affiliated Lender, such Affiliated Lender irrevocably authorizes and empowers the Administrative Agent to vote on behalf of such Affiliated Lender with respect to the Loans held by such Affiliated Lender in any manner in the
                  Administrative Agent’s sole discretion, unless the Administrative Agent instructs such Affiliated Lender to vote, in which case such Affiliated Lender shall vote with respect to the Loans held by it as the Administrative Agent directs; provided
                  that such Affiliated Lender shall be entitled to vote in accordance with its sole discretion (and not in accordance with the direction of the Administrative Agent) in connection with any plan of reorganization to the extent any such plan
                  of reorganization proposes to treat any Secured Obligations held by such Affiliated Lender in a disproportionately adverse manner to such Affiliated Lender than the proposed treatment of similar Secured Obligations held by Lenders that
                  are not Affiliates of the Borrower.

                

                

                (g)         Notwithstanding anything in this Section 9.02 to the contrary, (a) technical modifications to the Loan Documents may be made
                  with the consent of Holdings and the Administrative Agent (and no other Person) to the extent necessary (i) to integrate any Incremental Facilities, Other Revolving Loans, or Other Term Loans, (ii) to integrate or make administrative
                  modifications with respect to borrowings, (iii) to integrate and terms or conditions from any Incremental Facility Amendment or the documents governing Ratio Indebtedness or Incremental Equivalent Debt that are more restrictive than this
                  Agreement in accordance with Section 2.20(d), Section 6.01(a)(xix) or Section 6.01(a)(xxiii), respectively, and (iv) to make any amendments permitted by Section 1.04 and to give effect to any election to
                  adopt IFRS and (b) without the consent of any Lender, the Loan Parties and the Administrative Agent or any collateral agent may (in their respective sole discretion, or shall, to the extent required by any Loan Document) enter into (x)
                  any amendment, modification or waiver of any Loan Document, or enter into any new agreement or instrument, to effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or additional
                  property to become Collateral for the benefit of the Secured Parties or as required by local law to give effect to, or protect, any security interest for the benefit of the Secured Parties, in any property or so that the security
                  interests therein comply with applicable law or this Agreement or in each case to otherwise enhance the rights or benefits of any Lender under any Loan Document or (y) any applicable Intercreditor Agreement, in each case with the holders
                  of Indebtedness permitted by this Agreement to be secured by the Collateral.  Without limitation of the foregoing, the Administrative Agent and the Borrower may, without the consent of any Lenders, (i) increase the interest rates
                  (including any interest rate margins or interest rate floors), fees and other amounts payable to any Class or Classes of Lenders hereunder, (ii) increase, expand and/or extend the call protection provisions and any “most favored nation”
                  provisions benefiting any Class or Classes of Lenders hereunder (including, for the avoidance of doubt, the provisions of Section 2.12(d) and Section 2.20(e)(iii) hereof) and/or (iii) modify any other provision hereunder
                  or under any other Loan Document in a manner more favorable to the then-existing Lenders or Class or Classes of Lenders, in each case in connection with the issuance or incurrence of any Incremental Facilities or other Indebtedness
                  permitted hereunder, where the terms of any such Incremental Facilities or other Indebtedness are more favorable to the lenders thereof than the corresponding terms applicable to other Loans or Commitments then existing hereunder, and it
                  is intended that one or more then-existing Classes of Loans or Commitments under this Agreement share in the benefit of such more favorable terms in order to comply with the provisions hereof relating to the incurrence of such Incremental
                  Facilities or other Indebtedness.

                

                

                
                  219

                  
                    

                

                (h)        Notwithstanding anything to the contrary herein, in connection with any determination as to whether the requisite Lenders have (i)
                  consented (or not consented) to any amendment, modification or waiver of any provision of this Agreement or any other Loan Document or any departure by Holdings, the Borrower or any Restricted Subsidiary therefrom, (ii) otherwise acted on
                  any matter related to this Agreement or any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to, or under, this Agreement or any
                  Loan Document, any Lender (other than any Revolving Lender or any Lender that is a Regulated Bank) (or any Affiliate of any such Lender (provided that for purposes of this clause (h), Affiliates shall not include Persons that are subject
                  to customary procedures to prevent the sharing of confidential information between such Lender and such Person and such Person is managed having independent fiduciary duties to the investors or other equityholders of such Person) that, as
                  a result of its (or its Affiliates’) interest in any total return swap, total rate of return swap, credit default swap or other derivative contract (other than any such total return swap, total rate of return swap, credit default swap or
                  other derivative contract entered into pursuant to bona fide market making activities), has a net short position with respect to any of the Loans or Commitments or with respect to any other tranche, class or series of Indebtedness for
                  borrowed money incurred or issued by Holdings or any of its Restricted Subsidiaries at such time of determination (including commitments with respect to any revolving credit facility) (each such item of Indebtedness, including the Loan
                  and Commitments, “Specified Indebtedness”) (each such Lender, a “Net Short Lender”) shall have no right to vote with respect to any amendment, modification or waiver of this Agreement or any other Loan Documents and shall be
                  deemed to have voted its interest as a Lender without discretion in the same proportion as the allocation of voting with respect to such matter by Lenders who are not Net Short Lender (including in any plan of reorganization). For
                  purposes of determining whether a Lender (alone or together with its Affiliates) has a “net short position” on any date of determination: (i) derivative contracts with respect to any Specified Indebtedness and such contracts that are the
                  functional equivalent thereof shall be counted at the notional amount of such contract in Dollars, (ii) notional amounts in other currencies shall be converted to the Dollar equivalent thereof by such Lender in a commercially reasonable
                  manner consistent with generally accepted financial practices and based on the prevailing conversion rate (determined on a mid-market basis) on the date of determination, (iii) derivative contracts in respect of an index that includes the
                  Borrower or any other Restricted Subsidiary or any instrument issued or guaranteed by the Borrower or any other Restricted Subsidiary shall not be deemed to create a short position with respect to such Specified Indebtedness, so long as
                  (x) such index is not created, designed, administered or requested by such Lender or its Affiliates and (y) the Borrower and the other Restricted Subsidiaries and any instrument issued or guaranteed by the Borrower or the other Restricted
                  Subsidiaries, collectively, shall represent less than 5.0% of the components of such index, (iv) derivative transactions that are documented using either the 2014 ISDA Credit Derivatives Definitions or the 2003 ISDA Credit Derivatives
                  Definitions (collectively, the “ISDA CDS Definitions”) shall be deemed to create a short position with respect to the relevant Specified Indebtedness if such Lender or its Affiliates is a protection buyer or the equivalent thereof
                  for such derivative transaction and (x) the relevant Specified Indebtedness is a “Reference Obligation” under the terms of such derivative transaction (whether specified by name in the related documentation, included as a “Standard
                  Reference Obligation” on the most recent list published by Markit, if “Standard Reference Obligation” is specified as applicable in the relevant documentation or in any other manner), (y) the relevant Specified Indebtedness would be a
                  “Deliverable Obligation” under the terms of such derivative transaction or (z) the Borrower or any other Restricted Subsidiary is designated as a “Reference Entity” under the terms of such derivative transaction and (v) credit derivative
                  transactions or other derivatives transactions not documented using the ISDA CDS Definitions shall be deemed to create a short position with respect to any Specified Indebtedness if such transactions offer the Lender or its Affiliates
                  protection against a decline in the value of such Specified Indebtedness, or in the credit quality of the Borrower or any other Restricted Subsidiary, in each case, other than as part of an index so long as (x) such index is not created,
                  designed, administered or requested by such Lender or its Affiliates and (y) the Borrower and the other Restricted Subsidiaries, and any instrument issued or guaranteed by the Borrower or the other Restricted Subsidiaries, collectively,
                  shall represent less than 5.0% of the components of such index. In connection with any amendment, modification or waiver of this Agreement or the other Loan Documents, each Lender (other than any Revolving Lender and any Lender that is a
                  Regulated Bank) will be deemed to have represented to the Borrower and the Administrative Agent that it does not constitute a Net Short Lender, in each case, unless such Lender shall have notified the Borrower and the Administrative Agent
                  prior to the requested response date with respect to such amendment, modification or waiver that it constitutes a Net Short Lender (it being understood and agreed that the Borrower and the Administrative Agent shall be entitled to rely on
                  each such representation and deemed representation). In no event shall the Administrative Agent be obligated to ascertain, monitor or inquire as to whether any Lender is a Net Short Lender.

                

                

                
                  220

                  
                    

                

                SECTION 9.03    Expenses; Indemnity; Damage Waiver.

                

                

                (a)         The Borrower shall pay, if the Closing Date occurs, (i) all reasonable and documented or invoiced out of
                  pocket fees and expenses incurred by the Agents and their Affiliates (without duplication), including the reasonable fees, charges and disbursements of one primary counsel and to the extent reasonably determined by the Administrative
                  Agent to be necessary one local counsel in each applicable jurisdiction or otherwise retained with the Borrower’s consent (and, solely in the case of an actual or perceived conflict of interest, where each party affected by such conflict
                  notifies the Borrower of the existence of such conflict and thereafter retains its own counsel, of one other firm of counsel for such affected party in each applicable jurisdiction), in each case for the Agents in connection with the
                  structuring, arrangement or syndication of the credit facilities provided for herein, the preparation, execution, delivery or administration of the Loan Documents or any amendments, modifications or waivers of the provisions thereof and
                  (ii) all reasonable and documented or invoiced out-of-pocket fees and expenses incurred by the Administrative Agent or any Lender or any L/C Issuer, including the fees, charges and disbursements of counsel for the Administrative Agent,
                  the Joint Bookrunners and the Lenders, in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made hereunder,
                  including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans; provided that such counsel shall be limited to one primary counsel for the Administrative Agent and
                  each Lender and each L/C Issuer, taken as a whole, and, if necessary, one local counsel in each applicable jurisdiction (and, solely in the case of an actual or perceived conflict of interest, where each party affected by such conflict
                  notifies the Borrower of the existence of such conflict and thereafter retains its own counsel, of one other firm of counsel for such affected party in each applicable jurisdiction).

                

                

                
                  221

                  
                    

                

                (b)         The Borrower shall indemnify the Administrative Agent, each Agent, each Lender, each L/C Issuer and each
                  Related Party of any of the foregoing Persons (each such Person being called an “Indemnified Person”) against, and hold each Indemnified Person harmless from, any and all losses, claims, damages and liabilities, including but not
                  limited to Environmental Liabilities,  (collectively, the “Losses”) of any kind or nature, and subject to the limitations set forth below, with respect to legal fees and expenses, and the reasonable and documented or invoiced
                  out-of-pocket fees and expenses, joint or several, to which any of the Indemnified Persons becomes subject, in the case of any such Losses and related expenses, to the extent arising out of, or resulting from, or in connection with (i)
                  the structuring, arrangement or syndication of the credit facilities provided for herein, the preparation, execution, delivery or administration of the Loan Documents or any other agreement or instrument contemplated thereby or any
                  amendments, modifications or waivers of the provisions thereof, the performance by the parties to the Loan Documents of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated
                  thereby or (ii) any Loan or the use of the proceeds therefrom of the use of proceeds provided hereunder (including, without limitation, any actual or threatened claim, litigation, investigation or other proceeding (including any inquiry
                  or investigation) relating to any of the foregoing) (each, a “Proceeding”), regardless of whether any such Indemnified Person is a party thereto and whether or not such Proceeding was brought by the Borrower, its equity holders,
                  Affiliates or creditors or any other third person, and to reimburse each such Indemnified Person promptly for any reasonable and documented or invoiced out-of-pocket legal fees and expenses incurred in connection with investigating,
                  responding to, or defending any of the foregoing (limited, in the case of each Indemnified Person’s counsel expenses, to the reasonable fees, disbursements and other charges of a single firm of counsel in each appropriate jurisdiction
                  (which may include a single firm of counsel in multiple jurisdictions) for all Indemnified Persons taken as a whole (and, solely in the case of an actual or perceived conflict of interest, where each Indemnified Person affected by such
                  conflict notifies the Borrower of the existence of such conflict and thereafter retains its own counsel, of one other firm of counsel for such affected Indemnified Person in each applicable jurisdiction)) and the reasonable and documented
                  or invoiced out-of-pocket fees and expenses incurred in connection with investigation, responding to, or defending any of the foregoing; provided that the foregoing indemnity will not, as to any Indemnified Person, apply to Losses
                  or related expenses to the extent that they have resulted from (i) the willful misconduct or gross negligence of such Indemnified Person (as determined by a court of competent jurisdiction in a final and non-appealable decision), (ii) in
                  the case of any Proceeding initiated by Holdings or any Restricted Subsidiaries against any Indemnified Person, a material breach of the obligations under the Loan Documents of such Indemnified Person (as determined by a court of
                  competent jurisdiction in a final and non-appealable decision) or (iii) any Proceeding that does not arise from any act or omission by Holdings, the Borrower or any Related Party and that is brought by any Indemnified Person against
                  another Indemnified Person; provided, that the Administrative Agent, the Lead Arrangers and the Joint Bookrunners, to the extent fulfilling their respective roles as an agent or arranger hereunder and in their capacities as such,
                  shall remain indemnified in respect of such a Proceeding, to the extent that none of the exceptions set forth in any of clauses (i) or (ii) of the immediately preceding proviso apply to such Person at such time.

                

                

                
                  222

                  
                    

                

                (c)        To the extent that Holdings or the Borrower fails to pay any amount required to be paid by it to the
                  Administrative Agent (or any sub-agent thereof) or any Related Party of any of the foregoing under paragraph (a) or (b) of this Section, and without limiting Holdings’ or the Borrower’s obligation to do so, each Lender severally agrees to
                  pay to the Administrative Agent (or such sub-agent) or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
                  amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or such sub-agent) in its capacity
                  as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity.  For purposes hereof, a Lender’s “pro rata share” shall be determined based upon
                  its share of outstanding Loans and unused Commitments at the time.

                

                

                (d)         To the fullest extent permitted by applicable law, neither Holdings nor the Borrower shall assert, or permit any of their Affiliates
                  or Related Parties to assert, and each hereby waives, any claim against any Indemnified Person (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, the Platform or any other electronic platform or messaging service), provided that such indemnity shall not, as to any Indemnified Person, be available to the extent that
                  such damages are determined by a court of competent jurisdiction by final, non-appealable judgment to have resulted from the gross negligence or willful misconduct of, or a breach of the Loan Documents by, such Indemnified Person or its
                  Related Parties, 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, any Loan Document or any
                  agreement or instrument contemplated thereby, the Transactions, any Loan or the use of the proceeds thereof.

                

                

                (e)        All amounts due under this Section shall be payable not later than 30 days (x) after written demand therefor, in the case of any
                  indemnification obligations and (y) in the case of reimbursement of costs and expenses, after receipt by the Borrower of an invoice setting forth such costs and expenses in reasonable detail, together with backup documentation supporting
                  the relevant reimbursement request; provided, however, that any Indemnified Person shall promptly refund or return an indemnification payment received hereunder to the extent that such Indemnified Person was not entitled
                  to indemnification with respect to such payment pursuant to this Section 9.03.

                

                

                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, except that (i) except as provided in Section 6.03(f), the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender
                  (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. 
                  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants (to the extent provided in paragraph (c)
                  of this Section) and, to the extent expressly contemplated hereby, the sub-agents of the Administrative Agent, the other Agents, the Related Parties of each of the Agents and the Lenders) any legal or equitable right, remedy or claim
                  under or by reason of this Agreement.

                

                

                
                  223

                  
                    

                

                (b)          (i) Subject to the conditions set forth in clause (iv) and paragraph (g) below, any Lender may
                  assign to one or more Eligible Assignees 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 of:

                

                

                (A)        the Borrower (such consent not to be unreasonably withheld or delayed), provided that no consent of the
                  Borrower shall be required for an assignment (1) by a Lender to any other Lender or an Affiliate of any Lender, (2) by a Lender to an Approved Fund or (3) if a Specified Event of Default under has occurred and is continuing; provided further
                  if the Borrower has not given the Administrative Agent written notice of its objection to such assignment within 10 Business Days after receipt of written notice to the Borrower, the Borrower shall be deemed to have consented to such
                  assignment;

                

                

                (B)         the Administrative Agent (such consent not to be unreasonably withheld or delayed), provided that no
                  consent of the Administrative Agent shall be required for an assignment of (i) a Term Loan by a Term Lender to any other Term Lender, an Affiliate of any Term Lender or an Approved Fund and (ii) a Revolving Loan or Revolving Commitments
                  by a Revolving Lender to any other Revolving Lender, an Affiliate of any Revolving Lender or an Approved Fund; and

                

                

                (C)        the L/C Issuers (not to be unreasonably withheld, conditioned or delayed); provided that no consent of any
                  L/C Issuer shall be required for an assignment of all or any portion of any Term Loan.

                

                

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

                

                

                (A)        except in the case of an assignment to a Lender, 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 trade date specified in the
                  Assignment and Assumption with respect to such assignment or, if no trade date is so specified, 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 (and integral multiples of $1,000,000 in excess thereof), unless the Borrower and the Administrative Agent otherwise consent (such consent not to be unreasonably withheld or delayed):

                

                

                (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, provided that this subclause (B) shall not be construed to prohibit assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Commitments or
                  Loans:

                

                

                
                  224

                  
                    

                

                (C)        the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
                  together (unless waived by the Administrative Agent) with a processing and recordation fee of $3,500, provided that assignments made pursuant to Section 2.19, Section 2.24 or Section 9.02(d) shall not require the
                  signature of the assigning Lender to become effective; provided further that such recordation fee shall not be payable in the case of assignments of Term Loans by a Lender to an Affiliate of a Lender or to or by any Joint
                  Bookrunner or Affiliate thereof in connection with the primary syndication thereof or pursuant to arrangements directly related to such primary syndication contemplated as of the Closing Date: and

                

                

                (D)        the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent any tax forms required by Section

                    2.17 and 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 Borrower, 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.

                

                

                (iii)       Subject to acceptance and recording thereof pursuant to clause (v) of this paragraph (b), 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 (subject to the obligations and limitations
                  of) Sections 2.15, 2.16, 2.17 and 9.03 and to any fees payable hereunder that have accrued for such Lender’s account but have not yet been paid).  Any assignment or transfer by a Lender of rights or obligations
                  under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 9.04(c)(i).

                

                

                (iv)        The Administrative Agent, acting for this purpose as a non-fiduciary agent of
                  Holdings and the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it, each Affiliated Lender 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 and stated interest amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register shall be
                  conclusive absent manifest error, and Holdings, the Borrower, the Administrative Agent and the Lenders shall 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.  In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender.  The
                  Register shall be available for inspection by Holdings, the Borrower and, solely with respect to its Loans or Commitments, any Lender, at any reasonable time and from time to time upon reasonable prior notice.  Notwithstanding the
                  foregoing, in no event shall the Administrative Agent be responsible for or have any liability for, or have any duty to ascertain, monitor or inquire into, or enforce, compliance with the provisions hereof relating to Disqualified Lenders
                  (or an affiliate of a Disqualified Lender), nor, without limiting the generality of the foregoing, shall the Administrative Agent (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective
                  Lender or Participant is a Disqualified Lender, (y) be obligated to ascertain, monitor or inquire as to the aggregate amount of the Loans or Incremental Facilities held by Disqualified Lenders (or affiliates of Disqualified Lenders) or
                  (z) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Lender.

                

                

                
                  225

                  
                    

                

                (v)        Upon its receipt of a duly completed Assignment and Assumption executed by an
                  assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire and any tax forms required by Section 2.17 (unless the assignee shall already be a Lender hereunder), the processing and recordation fee
                  referred to in this paragraph (b) and any written consent to such assignment required by this paragraph (b), the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the
                  Register.  No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph (b).

                

                

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

                

                

                (c)         (i) Any Lender may, without the consent of Holdings, the Borrower or the Administrative Agent, sell
                  participations to one or more banks or other Persons (other than to a Person that is not an Eligible Assignee (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a
                  portion of its Commitments and Loans of any Class); 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) Holdings, the Borrower, the Administrative Agent 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 the Loan Documents and to approve any amendment, modification or waiver of
                  any provision of the Loan Documents, 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 directly and adversely affects such Participant or requires the consent of each Lender.  Subject to clause (ii) below, the Borrower agrees that each Participant shall be entitled to the
                  benefits of Sections 2.15, 2.16 and 2.17 (subject to the obligations and limitations thereof, it being understood that any tax forms required by Section 2.17(f) shall be provided to the Lender) 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 that such Participant shall be subject to Section 2.18(c) as though it were a Lender.

                

                

                
                  226

                  
                    

                

                (ii)          No Participant shall be entitled to receive any greater payment under Section
                    2.15, 2.16 or 2.17 than the participating Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with
                  the Borrower’s prior written consent (not to be unreasonably withheld or delayed) expressly acknowledging that such Participant’s entitlement to benefits under Section 2.15, 2.16 or 2.17 is not limited to what the
                  participating Lender would have been entitled to receive absent the participation.

                

                

                (iii)        Each Lender that sells a participation shall, acting solely for this purpose as a
                  non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal and stated interest amounts of each Participant’s interest in the Loans or other obligations under the
                  Loan Documents (the “Participant Register”).  The entries in the Participant Register shall be conclusive (absent manifest error), and each Person whose name is recorded in the Participant Register pursuant to the terms hereof
                  shall be treated as a Participant for all purposes of this Agreement, notwithstanding 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.

                

                

                (d)         Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in
                  all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central 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.

                

                

                (e)         In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
                  unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as
                  appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable
                  pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by
                  such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans in accordance with its applicable percentage of the
                  Commitments in respect thereof.  Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the
                  provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

                

                

                
                  227

                  
                    

                

                (f)          Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may
                  grant to a special purpose funding vehicle (an “SPV”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of
                  any Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement, provided that (i) nothing herein shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV
                  elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof.  The making of a Loan by an SPV hereunder shall utilize
                  the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.  Each party hereto hereby agrees that no SPV shall be liable for any indemnity or similar payment obligation under this
                  Agreement (all liability for which shall remain with the Granting Lender).  In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is
                  one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, such party will not institute against, or join any other person in instituting against, such SPV any bankruptcy,
                  reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof.  In addition, notwithstanding anything to the contrary contained in this Section 9.04, any SPV may (i)
                  with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or to any
                  financial institutions (consented to by the Borrower and Administrative Agent) providing liquidity or credit support to or for the account of such SPV to support the funding or maintenance of Loans and (ii) disclose on a confidential
                  basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPV.

                

                

                (g)        Any Lender may, at any time, assign all or a portion of its Term Loans or Incremental Term Loans, and its
                  related rights and obligations under this Agreement, to a Person who is or will become, after such assignment, an Affiliated Lender on a non-pro rata basis through (x) Dutch auctions or other offers to purchase open to all Lenders on a
                  pro rata basis consistent with the Dutch Auction Procedures set forth on Schedule 2.11(a)(ii) or (y) open market purchases, in each case subject to the following limitations:

                

                

                (1)         Affiliated Lenders will not receive information provided solely to Lenders by the Administrative Agent or any
                  Lender and will not be permitted to attend or participate in conference calls or meetings attended solely by the Lenders and the Administrative Agent, other than information that has been made available by the Administrative Agent or any
                  Lender to any Loan Party or its representatives (and in any case, the right to receive notices of Borrowings, notices of prepayments and other administrative notices in respect of its Loans or Commitments required to be delivered to
                  Lenders pursuant to Article II);

                

                

                
                  228

                  
                    

                

                (2)          for purposes of any amendment, waiver or modification of any Loan Document (including such modifications pursuant
                  to Section 9.02) that requires the consent, approval or waiver of the Required Lenders, or, subject to Section 9.02(e), any plan of reorganization pursuant to the U.S. Bankruptcy Code, that in either case does not require
                  the consent of each Lender or each affected Lender or does not adversely affect such Affiliated Lender (in its capacity as a Lender) as compared to other Lenders in a disproportionately adverse manner, Affiliated Lenders will be deemed to
                  have voted in the same proportion as the Lenders that are not Affiliated Lenders voting on such matter (and such Affiliated Lenders shall be disregarded in the determination of any Required Lender Vote); and each Affiliated Lender hereby
                  acknowledges, agrees and consents that if, for any reason, its vote to accept or reject any plan pursuant to the U.S. Bankruptcy Code is not deemed to have been so voted, then such vote will be (x) deemed not to be in good faith and (y)
                  “designated” pursuant to Section 1126(e) of the U.S. Bankruptcy Code such that the vote is not counted in determining whether the applicable class has accepted or rejected such plan in accordance with Section 1126(c) of the U.S.
                  Bankruptcy Code; provided, that (i) no amendment, modification, waiver, consent or other action shall deprive any Affiliated Lender of its share of any payments which the Lenders are entitled to share on a pro rata basis
                  hereunder, in each case without the consent of such Affiliated Lender and (ii) each Affiliated Lender will be entitled to vote its interests in any Loan to the extent that any plan of reorganization or other arrangement with respect to
                  which the relevant vote is sought proposes to treat the interest of such Affiliated Lender in such Loan in a manner that is less favorable to such Affiliated Lender than the proposed treatment of Loans held by other Lenders;

                

                

                (3)         each Lender (other than any other Affiliated Lender) that assigns any Loans to an Affiliated Lender pursuant to
                  clause (y) above shall deliver to the Administrative Agent and the Borrower a customary Big Boy Letter;

                

                

                (4)         the aggregate principal amount of Term Loans and Incremental Term Loans purchased by assignment pursuant to this Section

                    9.04 and held at any one time by Affiliated Lenders may not exceed 25.0% of the outstanding principal amount of all Term Loans and Incremental Term Loans calculated at the time such Loans are purchased (after giving effect to any
                  substantially simultaneous cancellations thereof) (such percentage, the “Affiliated Lender Cap”); provided that to the extent any assignment to an Affiliated Lender would result in the aggregate principal amount of all such
                  Loans held by Affiliated Lenders exceeding the Affiliated Lender Cap (after giving effect to any substantially simultaneous cancellations thereof), the assignment of such excess amount will be void ab initio; and

                

                

                
                  229

                  
                    

                

                (5)          the assigning Lender and the Affiliated Lender purchasing such Lender’s Loans an any Affiliated Lender selling
                  its Loans shall execute and deliver to the Administrative Agent an assignment agreement substantially in the form of Exhibit H hereto (an “Affiliated Lender Assignment and Assumption”); which assignment agreement shall clearly
                  identify such Affiliate Lender as an Affiliated Lender; provided that each Affiliated Lender agrees to notify the Administrative Agent and the Borrower promptly (and in any event within 15 Business Days) if it acquires any Person
                  who is also a Lender, and each Lender agrees to notify the Administrative Agent and the Borrower promptly (and in any event within 15 Business Days) if it becomes an Affiliated Lender.

                

                

                Each Affiliated Lender by its acquisition of any Loans outstanding hereunder will be deemed to have waived any right it may otherwise have had to bring any action in connection with such
                  Loans against the Administrative Agent, in its capacity as such, and will be deemed to have acknowledged and agreed that the Administrative Agent shall not have any liability for any losses suffered by any Person as a result of any
                  purported assignment to or from an Affiliated Lender.

                

                

                Each Additional Lender that is an Affiliated Lender shall meet the requirements and be subject to the limitations and other provisions of this Section 9.04(g) to the same extent
                  as if the portion of any Incremental Facility or Credit Agreement Refinancing Indebtedness provided or proposed to be provided by it were being assigned to it pursuant to this Section 9.04.

                

                

                (h)         In the event of any assignment without the Borrower’s consent or deemed consent or participation by a Lender (A) to any Disqualified
                  Lender or (B) to the extent the Borrower’s consent is required under this Section 9.04 but has not been obtained (or deemed obtained), to any other Person, the Borrower may, at its sole expense and effort, upon notice to the
                  applicable Disqualified Lender and the Administrative Agent, (A) terminate any Commitments of such Disqualified Lender and repay all obligations of the Borrower owing to such Disqualified Lender in connection with such Commitments, (B) in
                  the case of outstanding Term Loans held by Disqualified Lenders, prepay such Term Loan by paying the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Lender paid to acquire such Term Loans, in each case
                  plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and under the other Loan Documents and/or (C) require such Disqualified Lender to assign and delegate, without recourse (in
                  accordance with and subject to the restrictions contained in this Section 9.04), all of its interest, rights and obligations under this Agreement and related Loan Documents to an Eligible Assignee that shall assume such
                  obligations at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Lender paid to acquire such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts
                  (other than principal amounts) payable to it hereunder and other the other Loan Documents; provided that (i) the Borrower shall have paid to the Administrative Agent the assignment fee (if any) required under this Section 9.04,
                  and (ii) such assignment does not conflict with applicable Laws.

                

                

                (i)        For the avoidance of doubt, the Administrative Agent shall not have any responsibility or liability for monitoring the identities of,
                  or enforcing provisions relating to, Disqualified Lenders.

                

                

                (j)          The Administrative Agent shall have the right, and the Borrower hereby expressly authorizes the Administrative Agent, to (A) post
                  the list of Disqualified Lenders provided by the Borrower and any updates thereto from time to time on the Platform, including that portion of the Platform that is designated for “Public Side” Lenders or (B) provide the list of
                  Disqualified Lenders provided by the Borrower and any updates thereto from time to time to each Lender requesting the same.

                

                

                
                  230

                  
                    

                

                (k)          Upon the cancellation or retirement of any Loans pursuant to this Section 9.04, (A) the aggregate principal amount (calculated on
                  the face amount thereof) shall be deemed reduced by the full par value of the aggregate principal amount of the Term Loans so retired or cancelled and (B) the Administrative Agent shall record such cancellation or retirement in the
                  Register.

                

                

                (l)          Any Lender may, so long as no Event of Default has occurred and is continuing, at any time, assign all or a portion of its rights
                  and obligations with respect to Term Loans under this Agreement to Holdings, the Borrower or any Subsidiary of the Borrower through (x) Dutch auctions or other offers to purchase open to all Lenders on a pro rata basis in accordance with
                  the Dutch Auction Procedures of the type described in Section 2.11(a)(ii) or (y) open market purchases on a non-pro rata basis; provided that:

                

                

                (i)           (x) if the assignee is Holdings or a Subsidiary of the Borrower, upon such assignment, transfer or contribution,
                  the applicable assignee shall automatically be deemed to have contributed or transferred the principal amount of such Term Loans, plus all accrued and unpaid interest thereon, to the Borrower; or (y) if the assignee is the Borrower
                  (including through contribution or transfers set forth in clause (x)), (a) the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be
                  deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, (b) the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation and
                  extinguishing of the Term Loans then held by the Borrower and (c) the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon
                  receipt of such notice, shall reflect the cancellation of the applicable Term Loans in the Register;

                

                

                (ii)         each Lender that assigns any Loans to Holdings, the Borrower or any Subsidiary of the Borrower pursuant to clause
                  (y) above shall deliver to the Administrative Agent and the Borrower a customary Big Boy Letter; and

                

                

                (iii)        purchases of Term Loans pursuant to this subsection (l) may not be funded with the proceeds of Revolving Loans.

                

                

                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 any 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, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender
                  may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any
                  Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated.  The provisions of Sections 2.15, 2.16, 2.17 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 Commitments or the
                  termination of this Agreement or any provision hereof.

                

                

                
                  231

                  
                    

                

                SECTION 9.06   Counterparts; Integration; Effectiveness.  This Agreement may be executed in
                  counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement, the other Loan Documents and
                  any separate letter agreements with respect to fees payable to the Agents or the syndication of the Loans and Commitments 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 that, 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 or other electronic means shall be effective as delivery of an original counterpart of
                  this Agreement.

                

                

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

                

                

                SECTION 9.08   Right
                    of Setoff.  If an Event of Default shall have occurred and be continuing, each Lender 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, in whatever currency) or other amounts at any time held and other obligations (in whatever currency) at any time owing by such Lender, to or for the credit or the account of Holdings or
                  the Borrower against any of and all the obligations of Holdings or the Borrower then due and owing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and
                  although such obligations are owed to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such indebtedness.  The applicable Lender shall notify the Borrower and the Administrative
                  Agent of such setoff and application, provided that any failure to give or any delay in giving such notice shall not affect the validity of any such setoff and application under this Section.  The rights of each Lender under this Section
                  are in addition to other rights and remedies (including other rights of setoff) that such Lender may have.  Notwithstanding the foregoing, no amount setoff from any Guarantor shall be applied to any Excluded Swap Obligation of such
                  Guarantor.

                

                

                
                  232

                  
                    

                

                SECTION 9.09    Governing Law; Jurisdiction; Consent to Service of Process.

                

                

                (a)        This Agreement and the other Loan Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or
                  otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed
                  by, and construed in accordance with, the law of the State of New York.

                

                

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

                

                

                (c)          Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do
                  so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to any 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.

                

                

                (d)          Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. 
                  Nothing in any 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 IRREVOCABLY 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 ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED 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.

                

                

                
                  233

                  
                    

                

                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.

                

                

                SECTION

                  9.12    Confidentiality.

                

                

                (a)          Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the
                  Information (as defined below), except that Information may be disclosed (a) to its Affiliates and its and its Affiliates’ respective directors, officers, employees, partners, trustees and agents, including accountants, legal counsel and
                  other experts, agents and advisors (collectively, the “Representatives”) on a “need to know” basis solely in connection with the transactions contemplated hereby (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); provided, that unless the Borrower otherwise consents, no such disclosure shall be made by the Administrative Agent,
                  any Lender or any Affiliate or Representative thereof to any Affiliate or Representative of the Administrative Agent or any Lender that is a Disqualified Lender, (b) (x) pursuant to the order of any court or administrative agency or in
                  any pending legal, judicial or administrative proceeding, or otherwise to the extent requested or required by any governmental and/or regulatory authority, required by applicable law, rule or regulation or by any subpoena or similar legal
                  process or (y) necessary in connection with the exercise of remedies or enforcement of any right hereunder; provided that, in the case of clause (x), unless specifically prohibited by applicable law or court order, each Lender and
                  the Administrative Agent shall promptly notify the Borrower of any request by any governmental agency or representative thereof (other than any such request in connection with an examination of the financial condition of such Lender by
                  such governmental agency or other routine examinations of such Lender by such governmental agency) for disclosure of any such non-public information prior to disclosure of such information, and provided, further, that in
                  no event shall any Lender or the Administrative Agent be obligated or required to return any materials furnished by Holdings, the Borrower or any of their Subsidiaries, (c) to any other party to this Agreement, (d) subject to an
                  acknowledgment and acceptance by the relevant recipient that such Information is being disseminated on a confidential basis (on substantially similar terms to those of this Section or as otherwise reasonably acceptable to the Borrower and
                  the Administrative Agent), to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or prospective Participant in, any of its rights or obligations under this Agreement or (ii) any direct or indirect
                  contractual counterparty to any Swap Agreement relating to any Loan Party or their Subsidiaries and its obligations under the Loan Documents, (e) with the consent of the Borrower, (f) to the extent such Information (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 Lender on a nonconfidential basis from a source other than Holdings or the Borrower or (g) to Moody’s or S&P on
                  a confidential basis in connection with obtaining or maintaining ratings.  In addition, the Agents and the Lenders may disclose the existence of this Agreement and publicly available information about this Agreement to market data
                  collectors, similar service providers to the lending industry, and service providers to the Agents and the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments and the
                  Borrowings hereunder.  For the purposes of this Section, “Information” means all information received from Holdings or the Borrower relating to Holdings, the Borrower, any Subsidiary or their business, other than any such information that
                  is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by Holdings or the Borrower.  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.

                

                

                
                  234

                  
                    

                

                (b)         EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY
                  INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING HOLDINGS, THE BORROWER, THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL
                  NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.

                

                

                (c)         ALL INFORMATION NOT MARKED “PUBLIC”, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE
                  AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT, WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT HOLDINGS, THE BORROWER, THE OTHER LOAN PARTIES AND THEIR RELATED PARTIES OR
                  THEIR RESPECTIVE SECURITIES.  ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
                  MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.

                

                

                SECTION 9.13   USA Patriot Act.  Each Lender and the Administrative Agent (for itself and not on behalf
                  of any Lender) hereby notifies each Loan Party that pursuant to the requirements of Title III of the USA Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the
                  name and address of such Loan Party and other information that will allow such Lender or Administrative Agent, as applicable, to identify each Loan Party in accordance with the Title III of the USA Patriot Act.

                

                

                SECTION 9.14    Judgment Currency.

                

                

                (a)        If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another
                  currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency
                  could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given.

                

                

                
                  235

                  
                    

                

                (b)        The obligations of the Borrower in respect of any sum due to any party hereto or any holder of any
                  obligation owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement
                    Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal
                  banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the
                  Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss.  The obligations of the Borrower under this Section shall survive the
                  termination of this Agreement and the payment of all other amounts owing hereunder.

                

                

                SECTION 9.15    Release of Liens and Guarantees. 

                  A Subsidiary Loan Party shall automatically be released from its obligations under the Loan Documents, and all security interests created by the Collateral Agreements in Collateral owned by such Subsidiary Loan Party shall be
                  automatically released upon the consummation of any single transaction or related series of transactions permitted by this Agreement as a result of which such Subsidiary Loan Party ceases to be a Loan Party (including pursuant to a merger
                  with a Subsidiary that is not a Loan Party, becoming an Excluded Subsidiary or a designation as an Unrestricted Subsidiary).  (i) Upon any sale as part of or in connection with a Disposition by any Loan Party (other than to Holdings, the
                  Borrower or any other Loan Party) of any Collateral in a transaction permitted under this Agreement, (ii) if any property granted to or held by the Administrative Agent under any Loan Documents is or becomes an Excluded Asset or (iii)
                  upon the effectiveness of any written consent to the release of the Lien or security interest created under any Collateral Agreement in any Collateral or the release of any Loan Party from its Guarantee under the Guarantee Agreement
                  pursuant to Section 9.02, the security interests in such Collateral created by the Collateral Agreements or such Guarantee shall be automatically released.  Upon the occurrence of the Termination Date, all obligations under the
                  Loan Documents and all security interests created by the Collateral Agreements shall be automatically released.  In connection with any termination or release pursuant to this Section or in connection with any subordination of its
                  interest as required by Article VIII, the Administrative Agent shall execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or
                  release.  Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent.  The Lenders irrevocably authorize the Administrative Agent to release or subordinate any
                  Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 6.02(iv) or Section 6.02(xxii) to
                  the extent required by the terms of the obligations secured by such Liens pursuant to documents reasonably acceptable to the Administrative Agent.

                

                

                SECTION 9.16   No Fiduciary Relationship.  Each of Holdings and the Borrower, on behalf of itself and
                  its Subsidiaries, agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, Holdings, the Borrower, the other Subsidiaries and their Affiliates, on the one hand, and
                  the Administrative Agent, the Agents, the Lenders and their respective Affiliates, and Agents and their Affiliates on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty
                  on the part of the Administrative Agent, the Lenders or their Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or communications.

                

                

                
                  236

                  
                    

                

                SECTION 9.17    Permitted Intercreditor Agreements.

                

                

                (a)          Each of the Lenders and the other Secured Parties acknowledges that obligations of the Borrower and the Guarantors under the Senior
                  Secured 2025 Notes, any Incremental Equivalent Debt, any Permitted First Priority Refinancing Debt, any Permitted Second Priority Refinancing Debt, any Ratio Indebtedness and any Permitted Refinancing Indebtedness of the foregoing may be
                  secured by Liens on assets of the Borrower and the Guarantors that constitute Collateral.  Each of the Lenders and the other Secured Parties hereby irrevocably authorizes and directs each of the Administrative Agent and the Collateral
                  Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, (i) from time to time upon the request of the Borrower, in connection with
                  the establishment, incurrence, amendment, refinancing or replacement of any such Indebtedness, the Pari Passu Intercreditor Agreement (including any joinders or supplements thereto) any applicable Market Intercreditor Agreement (it being
                  understood that each of the Administrative Agent and the Collateral Agent is hereby authorized and directed to determine the terms and conditions of any such Intercreditor Agreement as contemplated by the definition of the terms “Market
                  Intercreditor Agreement” and “Intercreditor Agreement”), and (ii) any documents relating thereto.

                

                

                (b)         Each of the Lenders and the other Secured Parties hereby irrevocably (i) consents to the treatment of Liens to be provided for under
                  the Intercreditor Agreements, (ii) agrees that, upon the execution and delivery thereof, such Secured Party will be bound by the provisions of any Intercreditor Agreement as if it were a signatory thereto and will take no actions contrary
                  to the provisions of any Intercreditor Agreement, (iii) agrees that no Secured Party shall have any right of action whatsoever against the Administrative Agent or the Collateral Agent as a result of any action taken by the Administrative
                  Agent or the Collateral Agent pursuant to this Section or in accordance with the terms of any Intercreditor Agreement and (iv) authorizes and directs each of the Administrative Agent and the Collateral Agent to carry out the provisions
                  and intent of each such document.

                

                

                (c)         Each of the Lenders and the other Secured Parties hereby irrevocably further authorizes and directs each of the Administrative Agent
                  and the Collateral Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, any amendments, supplements or other modifications of any
                  Intercreditor Agreement that the Borrower may from time to time request (i) to give effect to any establishment, incurrence, amendment, extension, renewal, refinancing or replacement of the Senior Secured 2025 Notes, any Incremental
                  Equivalent Debt, any Permitted First Priority Refinancing Debt, any Permitted Second Priority Refinancing Debt and any Ratio Indebtedness or (ii) to confirm for any party that such Intercreditor Agreement is effective and binding upon the
                  Administrative Agent or the Collateral Agent, as applicable, on behalf of the Secured Parties.

                

                

                
                  237

                  
                    

                

                (d)         Each of the Lenders and the other Secured Parties hereby irrevocably further authorizes and directs each of the Administrative Agent
                  and the Collateral Agent to execute and deliver, in each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party, any amendments, supplements or other modifications of any
                  Collateral Agreement to add or remove any legend that may be required pursuant to any Intercreditor Agreement.

                

                

                (e)         Each of the Administrative Agent and the Collateral Agent shall have the benefit of the provisions of Article VIII with
                  respect to all actions taken by it pursuant to this Section or in accordance with the terms of any Intercreditor Agreement to the full extent thereof.

                

                

                SECTION 9.18    Acknowledgement and Consent to Bail-In of Affected Financial Institutions.  Solely to
                  the extent any Lender that is an Affected Financial Institution is a party to this agreement and 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 Lender that is an Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers
                  of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

                

                

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

                

                

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

                

                

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

                

                

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

                

                

                (iii)       the variation of the terms of such liability in connection with the exercise of the write-down and conversion
                  powers of the applicable Resolution Authority.

                

                

                
                  238

                  
                    

                

                SECTION 9.19   Electronic Execution of Assignments and Certain Other Documents; Platform.  The
                  words “execution,” “execute”, “signed,” “signature,” and words of like import in or related to this Agreement or any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without
                  limitation Assignment and Assumptions, amendments or other Borrowing Requests, amendments, modifications, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract
                  formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use
                  of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures
                  and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no obligation to agree to accept
                  electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.  THE PLATFORM PROVIDED BY THE ADMINISTRATIVE AGENT IS PROVIDED “AS IS” AND “AS AVAILABLE.” 
                  THE ADMINISTRATIVE AGENT AND ITS RELATED PARTIES DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMPANY MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE COMPANY
                  MATERIALS.  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 ANY AGENT PARTY IN CONNECTION WITH THE COMPANY MATERIALS OR THE PLATFORM.

                

                

                SECTION 9.20   Other Agents and Arrangers.  None of the Lenders or other Persons identified on the
                  facing page or signature pages of or otherwise in this Agreement as a “lead arranger,” or “joint bookrunner” or similar term shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those
                  applicable to all Lenders as such (to the extent such Person is a Lender).  Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. 
                  Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder.

                

                

                SECTION 9.21    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):

                

                

                
                  239

                  
                    

                

                (a)         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.

                

                

                (b)          As used in this Section 9.21, the following terms have the following meanings:

                

                

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

                

                

                “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).

                

                

                “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.

                

                

                “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).

                

                

                SECTION 9.22    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 Lead Arranger and their respective Affiliates, and not, for the avoidance of
                  doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true:

                

                

                (i)          such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42)
                  of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments,

                

                

                
                  240

                  
                    

                

                (ii)        the prohibited 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 so as to exempt from the prohibitions of  ERISA Section 406 and Code Section 4975, such Lender’s entrance into, participation in, administration of and performance of the Loans, 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 Commitments and this Agreement, (C) the
                  entrance into, participation in, administration of and performance of the Loans, 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 Commitments and this Agreement, or

                

                

                (iv)        such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in
                  its sole discretion, and such Lender.

                

                

                (b)        In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not
                  provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to,
                  and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and each Lead Arranger and their respective Affiliates, and
                  not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that:

                

                

                (i)          none of the Administrative Agent or the Lead Arrangers or their respective Affiliates is a fiduciary with respect
                  to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto),

                

                

                (ii)       the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation
                  in, administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person
                  that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),

                

                

                (iii)      the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation
                  in, administration of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies
                  (including in respect of the Loan Document Obligations),

                

                

                
                  241

                  
                    

                

                (iv)      the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation
                  in, administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Commitments and this Agreement and is responsible for exercising
                  independent judgment in evaluating the transactions hereunder, and

                

                

                (v)          no fee or other compensation is being paid directly to the Administrative Agent or any Lead Arranger or any their
                  respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement.

                

                

                (c)         The Administrative Agent and each Lead Arranger hereby informs the Lenders that each such Person is not undertaking to provide
                  impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or
                  an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for an amount less than the amount being
                  paid for an interest in the Loans 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.

                

                

                SECTION 9.23   Australian Security Trustee.  Solely in connection with the Loan Documents that are
                  governed by Australian law and solely insofar as the Collateral Agent is acting as Australian Security Trustee in respect thereof:

                

                

                (a)         Each of the Secured Parties hereby irrevocably appoints the Collateral Agent as its security trustee (the “Australian Security
                    Trustee”), and authorizes the Australian Security Trustee to take such actions on its behalf, including execution of the other Loan Documents, as applicable, and to exercise such powers as are delegated to the Australian Security
                  Trustee by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. All of the Secured Parties (other than the Administrative Agent and the Collateral Agent to the extent provided
                  herein) agree and acknowledge that they will take no action in respect of the Collateral Agreements governed by Australian law (including communicating with the Borrower) except through the Australian Security Trustee. The express powers
                  granted to the Australian Security Trustee are in addition to any other power or rights it has under any other law. In relation to anything the Australian Security Trustee does or omits to do, the Borrower need not enquire (i) whether the
                  Australian Security Trustee needed to consult with or has consulted with the Lenders, (ii) whether any Lender has instructed the Australian Security Trustee, or (iii) about the terms of any instructions. As between the Australian Security
                  Trustee and the Borrower, all action of the Australian Security Trustee as security trustee for the Lenders is deemed to be authorized unless the Borrower has actual notice to the contrary.

                

                

                
                  242

                  
                    

                

                (b)        The Australian Security Trustee may accept deposits from, lend money to and generally engage in any kind of banking or other business
                  with any Loan Party.

                

                

                (c)          The Australian Security Trustee may assume (unless it has received actual notice to the contrary in its capacity as security trustee
                  for the Secured Parties) that any right, power, authority or discretion vested in any Secured Party or the Required Lenders has not been exercised.

                

                

                (d)          Notwithstanding any other provision of any Loan Document to the contrary, (i) the Australian Security Trustee is not obliged to do
                  or to omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality regardless of whether an Event of Default is continuing and
                  (ii) the Australian Security Trustee need not act (whether or not on instruction from one or more Lenders) for so long as it is unable to act due to any cause beyond its control (including war, riot, natural disaster, labor dispute or law
                  taking effect after the date of this Agreement). The Australian Security Trustee agrees to notify each Lender, each other Agent and the Borrower promptly after it determines that it is unable to act pursuant to clause (ii) of this Section

                    9.23(d). The Australian Security Trustee will have no responsibility for any liability or loss arising from, or any costs incurred in connection with, the Australian Security Trustee not acting for so long as it is unable to act
                  pursuant to clause (ii) of this Section 9.23(d)).

                

                

                (e)       Unless a contrary indication appears in any Loan Document, the Australian Security Trustee shall: (i) exercise any right, power,
                  authority or discretion vested in it as Australian Security Trustee in accordance with any instructions given to it by the Administrative Agent (or, if so instructed by the Administrative Agent, refrain from acting or exercising any
                  right, power, authority or discretion vested in it as Australian Security Trustee); and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in accordance with such an instruction of the Secured
                  Parties. Unless a contrary indication appears in a Loan Document, any instructions given to the Australian Security Trustee by the Administrative Agent will be binding on all the Secured Parties. The Australian Security Trustee may
                  refrain from acting in accordance with the instructions of the Administrative Agent (or, if appropriate, the Secured Parties) until it has received such security as it may require for any cost, loss or liability (together with any
                  associated indirect Tax) which it may incur in complying with the instructions.

                

                

                (f)          Without limiting the rest of this clause (g), the Australian Security Trustee will not be liable for any action taken by it, or for
                  omitting to take action under or in connection with any Loan Document 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). No party (other than the Australian Security Trustee) may take any proceedings against any officer, employee or agent of the Australian Security Trustee in respect of any claim it might have against the
                  Australian Security Trustee or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Loan Document and any officer, employee or agent of the Australian Security Trustee may rely on this
                  Section 9.23. The Australian Security Trustee shall not be responsible or liable to the Secured Parties for any failure to monitor the Collateral.

                

                

                
                  243

                  
                    

                

                (g)         Each Lender shall (in proportion to its share of the Loans) indemnify the Australian Security Trustee, within three (3) Business Days
                  of demand, against any cost, loss or liability incurred by the Australian Security Trustee (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)) in acting as Australian Security Trustee under the Loan Documents (unless the Australian Security Trustee has been reimbursed by the Borrower or any Loan Party pursuant to a Loan
                  Document).

                

                

                (h)         The Australian Security Trustee may treat the Administrative Agent as the agent entitled to payments under this Agreement and acting
                  through its facility office unless it has received not less than five (5) Business Days prior notice from the Administrative Agent to the contrary in accordance with the terms of this Agreement.

                

                

                (i)          Any amount payable to the Australian Security Trustee under the Loan Documents shall include the cost of utilizing the Australian
                  Security Trustee’s management time or other resources and will be calculated on the basis of such reasonable daily or hourly rates as the Australian Security Trustee may notify to the Borrower and the Secured Parties, and is in addition
                  to any fee paid or payable to the Australian Security Trustee under any Loan Document.

                

                

                (j)          If any party owes an amount to the Australian Security Trustee under any Loan Document, the Australian Security Trustee may, after
                  giving notice to such party, deduct an amount not exceeding that amount from any payments to such party which the Australian Security Trustee would otherwise be obliged to make under such Loan Document and apply the amount deducted in or
                  towards satisfaction of the amount owed. For the purposes of the Loan Document, such party shall be regarded as having received any amount so deducted.

                

                

                SECTION 9.24    Parallel Liability

                

                

                In this Clause:

                

                

                “Corresponding Liabilities” means all present and future liabilities and contractual
                  and non-contractual obligations of a Loan Party under or in connection with this Agreement and the other Loan Documents, but excluding its Parallel Liability.

                

                

                “Parallel Liability” means a Loan Party’s undertaking pursuant to this Section
                    9.24.

                

                

                (a)          Each Loan Party irrevocably and unconditionally undertakes to pay the Collateral Agent an amount equal to the aggregate amount of
                  its Corresponding Liabilities (as these may exist from time to time).

                

                

                
                  244

                  
                    

                

                (b)          The Parties agree that:

                

                

                (i)          a Loan Party’s Parallel Liability is due and payable at the same time as, for the same amount of and in the same
                  currency as its Corresponding Liabilities;

                

                

                (ii)        a Loan Party’s Parallel Liability is decreased to the extent that its Corresponding Liabilities have been
                  irrevocably paid or discharged and its Corresponding Liabilities are decreased to the extent that its Parallel Liability has been irrevocably paid or discharged;

                

                

                (iii)        a Loan Party’s Parallel Liability is independent and separate from, and without prejudice to, its Corresponding
                  Liabilities, and constitutes a single obligation of that Loan Party to the Collateral Agent (even though that Loan Party may owe more than one Corresponding Liability to the Lenders under the Loan Documents) and an independent and
                  separate claim of the Collateral Agent to receive payment of that Parallel Liability (in its capacity as the independent and separate creditor of that Parallel Liability and not as a co-creditor in respect of the Corresponding
                  Liabilities); and

                

                

                (iv)        for the purposes of this Section 9.24, the Collateral Agent acts in its own name and not as agent,
                  representative or trustee of the Lenders and accordingly holds neither its claim resulting from a Parallel Liability nor any Collateral Agreement securing a Parallel Liability on trust; and

                

                

                (v)          the amount of the Parallel Liability of a Loan Party shall at all times be equal to its Corresponding
                  Liabilities.

                

                

                

                

                
                  245EX-4.1

 Exhibit 4.1 
  

 
 INDENTURE 

Dated as of March 11, 2021 

Among 
 PLAYTIKA HOLDING CORP.

 THE SUBSIDIARY GUARANTORS PARTY HERETO 

and 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Trustee 

4.250% SENIOR NOTES DUE 2029 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
	 SECTION 1.1.
	 	Definitions	  	 	1	 
	 SECTION 1.2.
	 	Other Definitions	  	 	39	 
	 SECTION 1.3.
	 	Rules of Construction	  	 	40	 
	 SECTION 1.4.
	 	Limited Condition Transactions	  	 	40	 
		
	 ARTICLE II THE NOTES
	  	 	41	 
	 SECTION 2.1.
	 	Form and Dating	  	 	41	 
	 SECTION 2.2.
	 	Execution and Authentication	  	 	43	 
	 SECTION 2.3.
	 	Registrar; Paying Agent	  	 	43	 
	 SECTION 2.4.
	 	Paying Agent to Hold Money in Trust	  	 	44	 
	 SECTION 2.5.
	 	Holder Lists	  	 	44	 
	 SECTION 2.6.
	 	Book-Entry Provisions for Global Notes	  	 	45	 
	 SECTION 2.7.
	 	Replacement Notes	  	 	47	 
	 SECTION 2.8.
	 	Outstanding Notes	  	 	48	 
	 SECTION 2.9.
	 	Treasury Notes	  	 	48	 
	 SECTION 2.10.
	 	Temporary Notes	  	 	48	 
	 SECTION 2.11.
	 	Cancellation	  	 	49	 
	 SECTION 2.12.
	 	Defaulted Interest	  	 	49	 
	 SECTION 2.13.
	 	Computation of Interest	  	 	49	 
	 SECTION 2.14.
	 	CUSIP and ISIN Numbers	  	 	49	 
	 SECTION 2.15.
	 	Transfer and Exchange	  	 	49	 
	 SECTION 2.16.
	 	Issuance of Additional Notes	  	 	52	 
		
	 ARTICLE III REDEMPTION AND PREPAYMENT
	  	 	53	 
	 SECTION 3.1.
	 	Notices to Trustee	  	 	53	 
	 SECTION 3.2.
	 	Selection of Notes to Be Redeemed	  	 	53	 
	 SECTION 3.3.
	 	Notice of Redemption	  	 	53	 
	 SECTION 3.4.
	 	Effect of Notice of Redemption	  	 	54	 
	 SECTION 3.5.
	 	Deposit of Redemption Price	  	 	54	 
	 SECTION 3.6.
	 	Notes Redeemed in Part	  	 	55	 
	 SECTION 3.7.
	 	Optional Redemption	  	 	55	 
		
	 ARTICLE IV COVENANTS
	  	 	56	 
	 SECTION 4.1.
	 	Payment of Notes	  	 	56	 
	 SECTION 4.2.
	 	Maintenance of Office or Agency	  	 	57	 
	 SECTION 4.3.
	 	Provision of Financial Information	  	 	57	 
	 SECTION 4.4.
	 	Compliance Certificate	  	 	58	 
	 SECTION 4.5.
	 	Taxes	  	 	59	 
	 SECTION 4.6.
	 	Stay, Extension and Usury Laws	  	 	59	 
	 SECTION 4.7.
	 	Limitation on Restricted Payments	  	 	59	 
	 SECTION 4.8.
	 	Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	64	 
	 SECTION 4.9.
	 	Limitation on Debt	  	 	66	 

  
 i 

							
	 SECTION 4.10.
	 	Limitation on Asset Dispositions	  	 	71	 
	 SECTION 4.11.
	 	Limitation on Transactions with Affiliates	  	 	74	 
	 SECTION 4.12.
	 	Limitation on Liens	  	 	77	 
	 SECTION 4.13.
	 	Offer to Purchase upon Change of Control	  	 	78	 
	 SECTION 4.14.
	 	Corporate Existence	  	 	79	 
	 SECTION 4.15.
	 	Future Guarantees	  	 	79	 
	 SECTION 4.16.
	 	Designation of Restricted and Unrestricted Subsidiaries	  	 	79	 
	 SECTION 4.17.
	 	Covenant Suspension	  	 	81	 
		
	 ARTICLE V SUCCESSORS
	  	 	82	 
	 SECTION 5.1.
	 	Consolidation, Merger, Conveyance, Transfer or Lease	  	 	82	 
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	84	 
	 SECTION 6.1.
	 	Events of Default	  	 	84	 
	 SECTION 6.2.
	 	Acceleration	  	 	88	 
	 SECTION 6.3.
	 	Other Remedies	  	 	89	 
	 SECTION 6.4.
	 	Waiver of Past Defaults	  	 	89	 
	 SECTION 6.5.
	 	Control by Majority	  	 	89	 
	 SECTION 6.6.
	 	Limitation on Suits	  	 	89	 
	 SECTION 6.7.
	 	Rights of Holders of Notes to Receive Payment	  	 	90	 
	 SECTION 6.8.
	 	Collection Suit by Trustee	  	 	90	 
	 SECTION 6.9.
	 	Trustee May File Proofs of Claim	  	 	90	 
	 SECTION 6.10.
	 	Priorities	  	 	91	 
	 SECTION 6.11.
	 	Undertaking for Costs	  	 	91	 
	 SECTION 6.12.
	 	Restoration of Rights and Remedies	  	 	91	 
	 SECTION 6.13.
	 	Rights and Remedies Cumulative	  	 	91	 
	 SECTION 6.14.
	 	Delay or Omission Not Waiver	  	 	92	 
		
	 ARTICLE VII TRUSTEE
	  	 	92	 
	 SECTION 7.1.
	 	Duties of Trustee	  	 	92	 
	 SECTION 7.2.
	 	Rights of Trustee	  	 	93	 
	 SECTION 7.3.
	 	Individual Rights of the Trustee	  	 	95	 
	 SECTION 7.4.
	 	Trustee’s Disclaimer	  	 	95	 
	 SECTION 7.5.
	 	Notice of Defaults	  	 	96	 
	 SECTION 7.6.
	 	Compensation and Indemnity	  	 	96	 
	 SECTION 7.7.
	 	Replacement of Trustee	  	 	97	 
	 SECTION 7.8.
	 	Successor Trustee by Merger, Etc.	  	 	98	 
	 SECTION 7.9.
	 	Eligibility; Disqualification	  	 	98	 
		
	 ARTICLE VIII DEFEASANCE; DISCHARGE OF THIS INDENTURE
	  	 	98	 
	 SECTION 8.1.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	98	 
	 SECTION 8.2.
	 	Legal Defeasance	  	 	98	 
	 SECTION 8.3.
	 	Covenant Defeasance	  	 	99	 
	 SECTION 8.4.
	 	Conditions to Legal or Covenant Defeasance	  	 	99	 
	 SECTION 8.5.
	 	Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	  	 	101	 
	 SECTION 8.6.
	 	Repayment to Company	  	 	101	 
	 SECTION 8.7.
	 	Reinstatement	  	 	102	 
	 SECTION 8.8.
	 	Discharge	  	 	102	 

  
 ii 

							
	 ARTICLE IX AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	103	 
	 SECTION 9.1.
	 	Without Consent of Holders of the Notes	  	 	103	 
	 SECTION 9.2.
	 	With Consent of Holders of Notes	  	 	104	 
	 SECTION 9.3.
	 	Revocation and Effect of Consents	  	 	105	 
	 SECTION 9.4.
	 	Notation on or Exchange of Notes	  	 	106	 
	 SECTION 9.5.
	 	Trustee to Sign Amendments, Etc.	  	 	106	 
		
	 ARTICLE X SUBSIDIARY GUARANTEES
	  	 	106	 
	 SECTION 10.1.
	 	Subsidiary Guarantees	  	 	106	 
	 SECTION 10.2.
	 	Execution and Delivery of Guarantee	  	 	108	 
	 SECTION 10.3.
	 	Severability	  	 	108	 
	 SECTION 10.4.
	 	Limitation of Subsidiary Guarantors’ Liability	  	 	108	 
	 SECTION 10.5.
	 	Releases	  	 	108	 
	 SECTION 10.6.
	 	Benefits Acknowledged	  	 	109	 
		
	 ARTICLE XI MISCELLANEOUS
	  	 	109	 
	 SECTION 11.1.
	 	Notices	  	 	109	 
	 SECTION 11.2.
	 	Certificate and Opinion as to Conditions Precedent	  	 	111	 
	 SECTION 11.3.
	 	Statements Required in Certificate or Opinion	  	 	112	 
	 SECTION 11.4.
	 	Rules by Trustee and Agents	  	 	112	 
	 SECTION 11.5.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	112	 
	 SECTION 11.6.
	 	Governing Law; Consent to Jurisdiction; Waiver of Jury Trial	  	 	112	 
	 SECTION 11.7.
	 	No Adverse Interpretation of Other Agreements	  	 	113	 
	 SECTION 11.8.
	 	Successors	  	 	113	 
	 SECTION 11.9.
	 	Severability; Entire Agreement	  	 	113	 
	 SECTION 11.10.
	 	Execution in Counterparts	  	 	113	 
	 SECTION 11.11.
	 	Table of Contents, Headings, Etc.	  	 	114	 
	 SECTION 11.12.
	 	Acts of Holders	  	 	114	 
	 SECTION 11.13.
	 	Force Majeure	  	 	116	 
	 SECTION 11.14.
	 	Legal Holidays	  	 	116	 
	 SECTION 11.15.
	 	USA PATRIOT Act	  	 	116	 

 Exhibits 
  

			
	Exhibit A	  	Form of Note
		
	Exhibit B	  	Form of Supplemental Indenture to be Delivered by Subsequent Subsidiary Guarantors
		
	Exhibit C	  	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
		
	Exhibit D	  	Form of Certificate to be Delivered in Connection with Transfers to IAIs

  

  
 iii 

 This Indenture, dated as of March 11, 2021, is by and among Playtika
Holding Corp., a Delaware corporation (collectively with successors and assigns, the “Company”), the Subsidiary Guarantors party hereto and Wilmington Trust, National Association, a national banking association, as trustee (the
“Trustee”), paying agent and registrar. 
 The Company, the Subsidiary Guarantors and the Trustee agree as
follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined herein) of (i) the Company’s 4.250% Senior Notes due 2029 to be issued in an initial aggregate principal amount of $600.0 million
on the date hereof (the “Initial Notes”) and (ii) Additional Notes (as defined herein): 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1. Definitions. 

“Additional Notes” means Notes (other than the Initial Notes) issued pursuant to Article II and otherwise in
compliance with the provisions of this Indenture, whether or not they have the same CUSIP or ISIN number. 

“Affiliate” of any Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such Person. For the purposes of this definition, “control,” when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing; provided that for the purposes of
Section 4.11 the term “Affiliate” shall include any known direct or indirect holder of 10% or more of any class of Capital Stock of the Company. 

“Agent” means any Registrar, Paying Agent, co-registrar or other
agent appointed pursuant to this Indenture. 
 “Alpha” shall mean Alpha Frontier Limited, a company formed
under the laws of the Cayman Islands. 
 “Alpha Shareholders” shall mean (a) each Person that holds,
directly or indirectly, Equity Interests in Alpha as of the Issue Date, (b) any trust for the benefit of any Person in clause (a) and any trustee of such trust, (c) any spouses or lineal descendants (including without limitation,
step-children and adopted children and their lineal descendants) and any trust for the benefit of spouses or lineal descendants, in each case, of any Person in clause (a), and any trustee of such trust; but in the case of this clause (c), only to
the extent that for so long as such Person in clause (a) is not deceased, incapacitated, incompetent or disabled, such Person in clause (a) retains ultimate Control over the direct or indirect interests in the Company transferred to such
persons, (d) the heirs, estates and the beneficiaries of the Persons in clauses (a), (b) and (c), and (d) any entity Controlled by any of the foregoing (in the case of any entity Controlled by a Person in clause (c), only to the extent
that for so long as the applicable Person in clause (a) is not deceased, incapacitated, incompetent or disabled, such Person in clause (a) retains ultimate Control over the direct or indirect interests in the Company transferred to such
persons). 

 “amend” means to amend, supplement, restate, amend and
restate or otherwise modify, including successively, and “amendment” shall have a correlative meaning. 

“Applicable Premium” means, with respect to any Note on any applicable redemption date, the greater of: 

(1) 1.00% of the then-outstanding principal amount of such Note; and 

(2) the excess, if any, of: 

(a) the present value at such redemption date of the sum of (i) the redemption price of such Note at
March 15, 2024 (such redemption price being set forth in the table appearing in Section 3.7(b)) plus (ii) all required interest payments due on such Note through March 15, 2024 (excluding accrued but unpaid interest), such
present value to be computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over 

(b) the then-outstanding principal amount of such Note. 

The Company shall calculate or cause the calculation of the Applicable Premium, and the Trustee shall have no duty to calculate
or verify the Company’s calculation thereof. 
 “asset” means any asset or property, including, without
limitation, Capital Stock. 
 “Asset Disposition” by any Person means any transfer, conveyance, sale, lease
or other disposition (but excluding the creation of any Lien permitted under Section 4.12 or any disposition in connection therewith) by such Person or any of its Restricted Subsidiaries (including a consolidation, merger or other sale of any
such Restricted Subsidiary with, into or to another Person in a transaction in which such Restricted Subsidiary ceases to be a Restricted Subsidiary, but excluding a disposition by a Restricted Subsidiary of such Person to such Person or a
Restricted Subsidiary of such Person or by such Person to a Restricted Subsidiary of such Person) of: 
 (1)
shares of Capital Stock (other than directors’ qualifying shares) or other ownership interests of a Restricted Subsidiary of such Person; 

(2) substantially all of the assets of such Person or any of its Restricted Subsidiaries representing a
division or line of business; or 
 (3) other assets or rights of such Person or any of its “Restricted
Subsidiaries” outside of the ordinary course of business. 
 The term “Asset Disposition” shall not
include any transfer, conveyance, sale, lease or other disposition: 
 (a) that consists of a Restricted
Payment or Permitted Investment that is made in compliance with Section 4.7; 
 (b) that constitutes a
Change of Control; 

  
 2 

 (c) that is of cash or Cash Equivalents, or a disposition or
termination or surrender of contract rights, including settlement of any hedging obligations; 
 (d) that is
of obsolete, damaged, worn-out, surplus or unusable equipment or assets that are not used or useful in the business; 

(e) that consists of defaulted receivables for collection or any
write-off, sale, transfer or other disposition of defaulted receivables for collection, or otherwise consists of the sale of receivables pursuant to non-recourse
factoring arrangements in the ordinary course of business; 
 (f) arising from foreclosures, condemnation or
any similar action on assets or the granting of Liens not prohibited by this Indenture; 
 (g) that is of
Capital Stock, Debt or other securities of an Unrestricted Subsidiary; 
 (h) in compliance with
Section 5.1; 
 (i) arising from any financing transaction with respect to property built or acquired by
the Company or any Restricted Subsidiary after the Issue Date, including without limitation any sale and leaseback transaction or asset securitization; 

(j) leases, subleases, licenses or sublicenses (and terminations thereof) of real or personal property granted
by the Company or any of its Restricted Subsidiaries to others in the ordinary course of business not interfering in any material respect with the business of the Company or any of its Restricted Subsidiaries; 

(k) the sale of inventory in the ordinary course of business; 

(l) any disposition of Investments in joint ventures to the extent required by, or made pursuant to buy/sell
arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements; 

(m) leases, licenses or subleases of any real or personal property in the ordinary course of business; 

(n) non-exclusive licensing or sublicensing (or terminations thereof)
of intellectual property or general intangibles, or the sale, licensing, sublicensing or other disposition, or abandonment, of intellectual property in the ordinary course of business or if determined by the management of the Company to be no longer
useful or necessary in the operation of the business of the Company, in each case in a manner not interfering in any material respect with the business of the Company and its Subsidiaries taken as a whole; 

(o) sales, conveyances, transfers or other dispositions of Receivables Assets pursuant to Permitted Receivables
Financings; 

  
 3 

 (p) any sale, transfer, lease, license or disposition made
pursuant to any Operations Services Agreement; 
 (q) the dedication of space or other dispositions of
property in connection with and in furtherance of constructing structures or improvements reasonably related to the development, construction and operation of any project; provided that in each case such dedication or other dispositions are
in furtherance of, and do not materially impair or interfere with the operations of the Company and the Restricted Subsidiaries; 

(r) dedications of, or the granting of easements, rights of way, rights of access and/or similar rights, or
other dispositions of property to any governmental authority, utility providers, cable or other communication providers and/or other parties providing services or benefits to any project, any real property held by the Company or any of the
Restricted Subsidiaries or the public at large that would not reasonably be expected to interfere in any material respect with the operations of the Company and the Restricted Subsidiaries; 

(s) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation
with or to a Person (other than the Company and the Restricted Subsidiaries) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such
acquisition), made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

(t) dispositions of assets with an aggregate Fair Market Value (as determined in good faith by the Company) of
not more than $25.0 million; 
 (u) dispositions of non-core
assets acquired in connection with a Permitted Business Acquisition or other Permitted Investment; 
 (v)
entry into any leases, subleases, easements or licenses with respect to any of its real property; and 
 (w)
any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort, or other claims of any kind. 

“Average Life” means, as of any date of determination, with respect to any Debt, the quotient obtained by
dividing (1) the sum of the products of the number of years from such date of determination to the dates of each successive scheduled principal payments of such Debt by the amount of each such principal payment by (2) the sum of all such
principal payments. 
 “Bankruptcy Law” means Title 11, U.S. Code, the Israeli Insolvency and
Rehabilitation Law or any similar federal, state or foreign law for the relief of debtors, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency,
reorganization, winding-up, restructuring, examinership or similar debtor relief laws. 

“Board of Directors” means, as to any Person, the Board of Directors, or similar governing body, of such
Person or any duly authorized committee thereof. 

  
 4 

 “Business Day” means any day other than a Saturday, Sunday
or day on which banking institutions or trust companies in the City of New York, New York or the Corporate Trust Office are authorized or obligated by law, regulation or executive order to remain closed. 

“Capital Lease Obligation” means, as of any time of determination, the amount of the liability in respect of
a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior
to the first date upon which such lease may be prepaid by the lessee without payment of a penalty; provided, however, that lease liabilities and associated expenses recorded by the Company and its Subsidiaries pursuant to ASU 2016-02, Leases, shall not be treated as Debt and shall not be included in consolidated interest expense or Consolidated Fixed Charges, unless the lease liabilities would have been treated as Capital Lease
Obligations under GAAP as in effect prior to the adoption of ASU 2016-02, Leases (in which case such lease liabilities and associated expenses shall be treated as Capital Lease Obligations, and the interest
component of such Capital Lease Obligation shall be included in consolidated interest expense and Consolidated Fixed Charges). 

“Capital Stock” of any Person means any and all shares, interests, participations, warrants, options or other
rights to acquire or other equivalents of or interests in (however designated) corporate stock or other equity participations, including partnership interests, whether general or limited, of such Person, but in each case excluding any debt security
that is convertible or exchangeable for Capital Stock. 
 “Cash Management Agreement” means any agreement
to provide cash management services, including treasury, depository, overdraft, credit or debit card (including non-card electronic payables), electronic funds transfer, automated clearing house and other cash
management arrangements. 
 “Cash Equivalents” means: 

(1) U.S. dollars and, in the case of Foreign Subsidiaries, the local currency where such Foreign Subsidiary is
operating; 
 (2) securities issued or directly and fully guaranteed or insured by the United States
government or any agency or instrumentality thereof having maturities of not more than six months from the date of acquisition; 

(3) certificates of deposit and Eurodollar time deposits with maturities of six months or less from the date of
acquisition, bankers’ acceptances with maturities not exceeding six months and bank deposits, in each case with any lender party to the Credit Facilities or with any domestic commercial bank having capital and surplus in excess of
$250.0 million and a Moody’s, S&P or Fitch rating of “B” or better; 
 (4) repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

  
 5 

 (5) commercial paper having a rating of at least P-1 from Moody’s and a rating of at least A-1 from S&P; 

(6) deposits available for withdrawal on demand with any commercial bank not meeting the qualifications
specified in clause (3) above; and 
 (7) investments in money market or other mutual funds
substantially all of whose assets comprise securities of the types described in clauses (2) through (6) above. 

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

(1) the consummation of any transaction as a result of which any Person or any Persons acting together that
would constitute a “group” for purposes of Sections 13(d) and 14(d) of the Exchange Act, or any successor provision thereto, other than a Permitted Holder, the Company, any of its Subsidiaries or any employee benefit plan of the Company or
any of its Subsidiaries, becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision thereto) of at least 50% of the aggregate voting power of all classes
of Voting Stock of the Company, directly or indirectly, other than in a transaction in which the Company becomes a Wholly Owned Subsidiary of another Person and in such transaction the Voting Stock of the Company outstanding immediately prior to
such transaction is converted into or exchanged for Voting Stock of such Person representing more than 50% of the voting power of all classes of Voting Stock of such Person immediately after giving effect to such transaction; 

(2) the sale, assignment, conveyance, transfer, lease or other disposition, in one or a series of related
transactions, of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than a Restricted
Subsidiary; or 
 (3) the adoption by the stockholders of the Company of a plan or proposal for the
liquidation or dissolution of the Company. 
 Notwithstanding the foregoing, a transaction effected to create a holding
company of the Company (a) pursuant to which the Company becomes a Wholly Owned Subsidiary of such holding company and (b) as a result of which the holders of Capital Stock of such holding company are substantially the same as the holders
of Capital Stock of the Company immediately prior to such transaction, shall not be deemed to involve a Change of Control; provided that following such a holding company transaction, references in this definition of “Change of
Control” to the Company shall thereafter be treated as references to such holding company. 
 “Code”
means the Internal Revenue Code of 1986, as amended. 
 “Common Stock” of any Person means Capital Stock of
such Person that does not rank prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding-up of such Person, to shares of
Capital Stock of any other class of such Person. 

  
 6 

 “Company Order” means a written request or order signed on
behalf of the Company by one (1) of its Officers and delivered to the Trustee. 
 “Consolidated Fixed
Charges” means for any period the consolidated interest expense, other than non-cash interest expense attributable to convertible debt securities, included in a consolidated income statement (without
deduction of interest income) of the Company and its Restricted Subsidiaries for such period calculated on a consolidated basis in accordance with GAAP, including without limitation or duplication (or, to the extent not so included, with the
addition of), subject to the limitations above: 
 (1) the amortization of Debt discounts; 

(2) the consolidated amount of interest capitalized by the Company and its Restricted Subsidiaries during such
period calculated in accordance with GAAP; 
 (3) any payments or fees with respect to letters of credit,
bankers’ acceptances or similar facilities; 
 (4) net fees with respect to Swap Agreements; 

(5) Preferred Stock dividends of Restricted Subsidiaries (other than with respect to Redeemable Stock) declared
and paid or payable (other than in exchange for Capital Stock (other than Redeemable Stock)); 
 (6) accrued
Redeemable Stock dividends of the Company and its Restricted Subsidiaries, whether or not declared or paid (other than dividends payable in Capital Stock that is not Redeemable Stock); 

(7) interest on Debt Guaranteed by the Company and its Restricted Subsidiaries; 

(8) interest on Debt issued or Guaranteed by the Company and its Restricted Subsidiaries paid by the issuance
of additional Debt; and 
 (9) the portion of rental expense deemed to be representative of the interest
factor attributable to Capital Lease Obligations. 
 Consolidated Fixed Charges shall be adjusted to give effect on a pro
forma basis to any Debt that has been Incurred, repaid or redeemed by the Company or any Restricted Subsidiary (other than revolving credit borrowings Incurred for working capital purposes unless, in connection with any such repayment, the
commitments to lend associated with such revolving credit borrowings are permanently reduced or canceled) since the beginning of such period and to any Debt that is proposed to be Incurred, repaid or redeemed by the Company or any Restricted
Subsidiary as if in each case such Debt had been Incurred, repaid or redeemed on the first day of such period; provided, however, that in making such computation, the Consolidated Fixed Charges attributable to interest on any proposed
Debt bearing a floating interest rate shall be computed on a pro forma basis as if the rate in effect on the date of computation had been the applicable rate for the entire period. 

  
 7 

 “Consolidated Net Income” for any period means with respect
to the Company and its Subsidiaries for any period, the aggregate of the net income (loss), determined in accordance with GAAP and before any reduction in respect of preferred stock dividends of the Company and its Subsidiaries for such period, on a
consolidated basis; provided, however, that, without duplication: 
 (1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income or expense or charge or accrual or reserve (less all fees and expenses relating thereto) including, without limitation, any severance,
relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning, conversion or reconfiguration of fixed assets for alternative uses, fees, expenses or charges relating to facilities closing
costs, contract terminations, legal settlements, curtailments or modifications to pension and post-retirement employee benefit plans, excess pension charges, acquisition integration costs, facilities opening costs, project start-up costs, business optimization costs, transition costs, signing, retention or completion bonuses, and expenses, fees or charges related to any offering of equity interests or debt securities of the Company,
any Restricted Subsidiary or any Parent Entity, any Investment, acquisition, disposition, recapitalization or issuance, repayment, refinancing, amendment or modification of Debt (in each case, whether or not successful), and any fees, expenses,
costs, charges or change in control payments related to the Refinancing Transactions (including any costs relating to auditing prior periods, transition-related expenses, and transaction expenses incurred before, on or after the Issue Date), in each
case, shall be excluded; 
 (2) any net after-tax income or loss from
disposed, abandoned, transferred, closed or discontinued operations and any net after-tax gain or loss on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; 

(3) any net after-tax gain or loss (less all fees and expenses or
charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the management of the Company) shall be excluded; 

(4) any net after-tax income or loss (less all fees and expenses or
charges relating thereto) attributable to the early extinguishment of indebtedness, Swap Agreements or other derivative instruments shall be excluded; 

(5) (A) the net income for such period of any Person that is not a subsidiary of such Person, or is an
Unrestricted Subsidiary or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into cash) to the
referent Person or a subsidiary thereof (other than an Unrestricted Subsidiary of such referent Person) in respect of such period and (B) the net income for such period shall include any ordinary course dividend, distribution or other payment
in cash received from any Person in excess of the amounts included in clause (A); 
 (6) Consolidated Net
Income for such period shall not include the cumulative effect of a change in accounting principles during such period; 

  
 8 

 (7) effects of purchase accounting adjustments (including
the effects of such adjustments pushed down to such Person and its Subsidiaries) in component amounts required or permitted by GAAP, resulting from the application of purchase accounting in relation to any consummated acquisition, or the
amortization or write-off of any amounts thereof, net of taxes, shall be excluded; 

(8) any impairment charges or asset write-offs, in each case pursuant to GAAP, and the amortization of
intangibles adjustments arising pursuant to GAAP, shall be excluded; 
 (9) any non-cash compensation charge or expenses realized or resulting from stock option plans, employee benefit plans or post-employment benefit plans, or grants or sales of stock, stock appreciation or similar rights,
stock options, restricted stock, preferred stock or other rights shall be excluded; 
 (10) accruals and
reserves that are established or adjusted within twelve months after the Issue Date and that are so required to be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded;

 (11) non-cash gains, losses, income and expenses resulting from
fair value accounting required by the applicable standard under GAAP and related interpretations shall be excluded; 

(12) any currency translation gains and losses related to changes in foreign currency exchange rates
(including, without limitation, currency remeasurements of Debt), and any net loss or gain resulting from Swap Agreements for currency exchange risk, shall be excluded; 

(13) (A) the non-cash portion of “straight-line” rent expense
shall be excluded and (B) the cash portion of “straight-line” rent expense which exceeds the amount expensed in respect of such rent expense shall be included; 

(14) to the extent covered by insurance and actually reimbursed, or, so long as such Person has made a
determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (i) not denied by the applicable carrier in writing within 180 days and (ii) in fact
reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption shall be
excluded, and (B) amounts estimated in good faith to be received from insurance in respect of lost revenues or earnings in respect of liability or casualty events or business interruption shall be included (with a deduction for amounts actually
received up to such estimated amount to the extent included in net income in a future period); 
 (15)
without duplication, an amount equal to the Tax Distributions actually made to any parent or equity holder of such Person in respect of such period shall be included as 

  
 9 

 
though such amounts had been paid as income taxes directly by such Person for such period; 

(16) non-cash charges for deferred tax asset valuation allowances shall
be excluded; and 
 (17) Consolidated Net Income shall be calculated by deducting, without duplication of
amounts otherwise deducted, rent, insurance, property taxes and other amounts and expenses actually paid in cash under any lease for office space, server space, retail space, research and development locations, customer service locations or other
business operations or services in the applicable Test Period and no deductions in calculating Consolidated Net Income shall occur as a result of imputed interest, amounts under any lease for office space, server space, retail space, research and
development locations, customer service locations or other business operations or services not paid in cash during the relevant Test Period or other non-cash amounts incurred in respect of any lease for office
space, server space, retail space, research and development locations, customer service locations or other business operations or services; provided that any “true-up” of rent paid in cash
pursuant to any lease for office space, server space, retail space or other business operations shall be accounted for in the fiscal quarter to which such payment relates as if such payment were originally made in such fiscal quarter. 

“Consolidated Total Assets” means, as of any date of determination, the total assets reflected on the
most recent internally available annual or quarterly consolidated balance sheet of the Company and its Restricted Subsidiaries prepared in accordance with GAAP. 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust
business shall be principally administered, which office at the date hereof is located at Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, Attention: Playtika Holding Corp. Administrator, or such other address as the Trustee may
designate from time to time by notice to the Holders and the Company, or the principal Corporate Trust Office of any successor trustee (or such other address as such successor trustee may designate from time to time by notice to the Holders and the
Company). 
 “Credit Facilities” means the Company’s Revolving Credit Facility and Term Loan, each
pursuant to the Credit Agreement, dated December 10, 2019, as amended to the Issue Date (including to give effect to the Amended and Restated Credit Agreement to be entered into in connection with the offering of the Notes), among the Company,
the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent and the other parties thereto from time to time, as the same may be amended, restated, modified, renewed, refunded, replaced or
refinanced in whole or in part from time to time (including increasing the amount loaned thereunder; provided that such additional Debt is Incurred in accordance with the covenant described under Section 4.9. 

“Debt” means (without duplication), with respect to any Person, whether recourse is to all or a portion of
the assets of such Person and whether or not contingent: 
 (1) every obligation of such Person for money
borrowed; 

  
 10 

 (2) every obligation of such Person evidenced by bonds,
debentures, notes or other similar instruments; 
 (3) every reimbursement obligation of such Person with
respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of such Person (excluding obligations with respect to letters of credit securing obligations (other than obligations with respect to borrowed money)
entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the tenth business day following receipt by such
Person of a demand for reimbursement following payment on the letter of credit); 
 (4) every obligation of
such Person issued or assumed as the deferred purchase price of property or services (including securities repurchase agreements but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business and with respect
to services, excluding deferred compensation to employees), which purchase price is due more than six months after the date of placing such property in service or taking delivery and title thereto or engaging such services; 

(5) every Capital Lease Obligation of such Person; 

(6) all Receivables Sales of such Person to the extent sold with recourse to such Person; 

(7) all Redeemable Stock issued by such Person valued at the greater of its voluntary or involuntary maximum
fixed repurchase price plus accrued and unpaid dividends; 
 (8) if such Person is a Restricted Subsidiary,
all Preferred Stock issued by such Person; 
 (9) every net obligation under Swap Agreements of such Person;
and 
 (10) every obligation of the type referred to in clauses (1) through (9) of another Person and
all dividends of another Person the payment of which, in either case, (a) such Person has Guaranteed or is responsible or liable, directly or indirectly, as obligor, Guarantor or otherwise or (b) is secured by (or for which the holder of
such obligation has an existing right, contingent or otherwise, to be secured by) any Lien upon or with respect to property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed
or become liable for the payment of such Debt or dividends; 
 if and to the extent that any of the preceding items (other than in respect
of letters of credit as provided in clause (3)) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. 

Notwithstanding the foregoing, Debt shall not include: (i) any obligation arising from any agreement entered into in
connection with the acquisition of any business or assets with any seller 

  
 11 

 
of such business or assets that provides for the payment of earn-outs to such seller or guarantees to such seller a minimum price to be realized by such seller upon the sale of any Capital Stock
(other than Redeemable Stock) of the Company that was issued by the Company to such seller in connection with such acquisition; (ii) obligations or liabilities under any Operations Services Agreement; or (iii) leases for office space,
server space, retail space, research and development locations, customer service locations or other business operating or services locations entered into by the Company and its Subsidiaries in the ordinary course of business. 

“Debt Facilities” means one or more credit facilities, debt facilities, indentures or commercial paper
facilities (including, without limitation, the Credit Facilities), in each case with banks or other financial institutions or lenders or investors, providing for revolving credit loans, term loans, private placements, debt securities, receivables
financings (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit or letter of credit guarantees, in each case, as amended,
restated, modified, supplemented, extended, renewed, refunded, replaced or refinanced (including, for the avoidance of doubt, amounts Incurred in reliance on subclause (y) of Section 4.9(b)(1)) in whole or in part from time to time. 

“Default” means any of the events described in Section 6.1 which with the passage of time, the giving of
notice or any other condition, would constitute an Event of Default. 
 “Derivative Instrument” with
respect to a Person, means any contract, instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such
Person’s investment in the Notes (other than a Regulated Bank or Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially
affected by the value and/or performance of the Notes and/ or the creditworthiness of the Company and/or any one or more of the Guarantors (the “Performance References”). 

“Depositary” means with respect to the Notes issuable or issued in whole or in part in global form, the
Person specified in Section 2.3 as the Depositary with respect to the Global Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Designated Noncash Consideration” means the Fair Market Value of
non-cash consideration received by the Company or any of its Restricted Subsidiaries in connection with an Asset Disposition that is so designated in good faith by senior management of the Company. The
aggregate Fair Market Value of the Designated Noncash Consideration, taken together with the Fair Market Value at the time of receipt of all other Designated Noncash Consideration received, shall not exceed, at any one time outstanding, the greater
of $100.0 million and (y) 11.5% of EBITDA for the most recently ended Reference Period determined at the time of such Asset Disposition (with the Fair Market Value being measured at the time received and without giving effect to subsequent
changes in value). 

  
 12 

 “Disinterested Director” means, with respect to any
transaction or series of related transactions, a member of the Board of Directors of the Company who does not have any material direct or indirect financial interest in, or with respect to, such transaction or series of transactions. 

“Disqualified Stock” means shall mean, with respect to any Person, any Capital Stock of such Person that, by
its terms (or by the terms of any security or other Capital Stock into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than
solely for Capital Stock that is not otherwise Disqualified Stock), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subject to the prior repayment in full of the Notes and all other obligations under the Notes that are accrued and payable), (b) is redeemable at the option of the holder thereof (other than solely for
Capital Stock that is not otherwise Disqualified Stock), in whole or in part, (c) provides for the scheduled payments of dividends in cash or (d) at the option of the holders thereof, is or becomes convertible into or exchangeable for Debt
or any other Capital Stock that would constitute Disqualified Stock, in each case, prior to the date that is ninety-one (91) days after the earlier of (x) the Maturity Date and (y) the date on
which the Notes and all other obligations under the Notes that are accrued and payable are repaid in full; provided, however, that only the portion of the Capital Stock that so mature or are mandatorily redeemable, are so convertible
or exchangeable, so accrue dividends, or are so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; provided further, however, that if such Capital Stock is issued to any
employee or to any plan for the benefit of employees of the Company or the Restricted Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because they may be required to be
repurchased by the Company or any Restricted Subsidiary in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided further, however, that
any class of Capital Stock in such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that are not Disqualified Stock shall not be deemed to be Disqualified Stock. 

“DTC” means The Depository Trust Company and any successor. 

“EBITDA” shall mean, with respect to the Company and the Restricted Subsidiaries on a consolidated basis for
any period, the Consolidated Net Income of the Company and the Restricted Subsidiaries for such period plus (a) the sum of (in each case without duplication and to the extent the respective amounts described in subclauses
(1) through (10) of this clause (a) otherwise reduced such Consolidated Net Income for the respective period for which EBITDA is being determined): 

(1) provision for taxes based on income, profits or capital of the Company and the Restricted Subsidiaries for
such period, including, without limitation, federal, state, foreign, franchise, property, excise and similar taxes and domestic and foreign withholding taxes (including penalties and interest related to taxes or arising from tax examinations) and,
without duplication, any Tax Distributions taken into account in calculating Consolidated Net Income; 

  
 13 

 (2) Interest Expense (and to the extent not included in
Interest Expense, (x) all cash dividend payments (excluding items eliminated in consolidation) on any series of preferred stock or Disqualified Stock and (y) costs of surety bonds in connection with financing activities) of the Company and
the Restricted Subsidiaries for such period (net of interest income of the Company and the Restricted Subsidiaries for such period); 

(3) depreciation and amortization expenses of the Company and the Restricted Subsidiaries for such period
including, without limitation, the amortization of intangible assets, deferred financing fees and capitalized software expenditures and amortization of unrecognized prior service costs and actuarial gains and losses related to pensions and other
post-employment benefits; 
 (4) any costs, fees, expenses or charges (other than depreciation or
amortization expense as described in the preceding clause (3)) related to any issuance of equity interests (including any public offering or direct listing), Investment, acquisition, disposition, recapitalization or the incurrence, modification or
repayment of Debt permitted to be incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (w) such fees, expenses or charges related to the Refinancing Transactions, (x) such fees, expenses or
charges related to any amendment or other modification of the Notes or other Debt, (y) any “additional interest,” “default interest” or similar penalties with respect to any Debt permitted under this Indenture and
(z) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Permitted Receivables Financing; 

(5) business optimization expenses and other restructuring charges, reserves, expenses or accruals (which, for
the avoidance of doubt, shall include, without limitation, the effect of inventory optimization programs, operating improvements, business optimization, facility closure, facility consolidations, facility reconstruction, decommissioning,
recommissioning, conversion or reconfiguration, retention, severance, recruiting, transition, integration, insourcing, outsourcing and systems establishment costs, legal settlement costs, contract termination costs, future lease commitments and
excess pension charges) and, in each case, expected to be initiated, achieved, completed or realized within 24 months, in the good faith determination of the Company; provided that the aggregate amount of adjustments for any Test Period
pursuant to this clause (5), together with the aggregate amount of adjustments made for such Test Period as a pro forma adjustment otherwise permitted under this Indenture made to reflect operating expense reductions and other operating
improvements, synergies or cost savings reasonably expected to result from a relevant pro forma event and any other relevant transaction, shall not exceed an amount equal to 25% of EBITDA for such Test Period (calculated after giving effect to any
adjustment pursuant to this clause (5) and such pro forma adjustment); 
 (6) any other non-cash charges (including impairment charges); provided that, for purposes of this clause (6), any non-cash charges or losses shall be treated as cash charges or
losses in any subsequent period during which cash disbursements attributable thereto are made (but excluding, for the avoidance of doubt, amortization of a prepaid cash item that was paid in a prior period); 

  
 14 

 (7) the amount of management, consulting, monitoring,
transaction and advisory fees and related expenses paid in accordance with the covenant described under Section 4.11 (or any accruals related to such fees and related expenses) during such period; 

(8) the amount of loss on sale of receivables and related assets to a Special Purpose Receivables Subsidiary in
connection with a Permitted Receivables Financing; 
 (9) any costs or expenses incurred pursuant to any
management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, but in the case of any such costs or expenses that represent cash payments or expenditures,
only to the extent that such costs or expenses are funded in such Test Period with cash proceeds contributed to the capital of the Company and the Restricted Subsidiaries or the net cash proceeds of the issuance of equity interests of the Company
(other than Disqualified Stock) and such cash proceeds are Excluded Contributions; and 
 (10) any deductions
(less any additions) attributable to minority interests except, in each case, to the extent of cash paid or received; 
 minus
(b) the sum of (without duplication and to the extent the amounts described in this clause (b) increased such Consolidated Net Income for the respective period for which EBITDA is being determined)
non-cash items increasing Consolidated Net Income of the Company and the Restricted Subsidiaries for such period (but excluding any such items (A) in respect of which cash was received in a prior period
or will be received in a future period or (B) which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior period). 

“Equity Offering” means an offering of Capital Stock (other than Redeemable Stock) of the Company that
results in aggregate net cash proceeds to the Company, other than (1) public offerings registered on Form S-4 or S-8 or successor form thereto, (2) an issuance
to any Subsidiary and (3) any such public or private sale that constitutes an Excluded Contribution. 

“Excluded Contributions” means the net cash proceeds and Cash Equivalents, or the Fair Market Value of other
assets, received by the Company after the Issue Date from (1) contributions to its common equity capital and (2) the sale of Capital Stock (other than Disqualified Stock) of the Company, in each case designated as Excluded Contributions
pursuant to an Officer’s Certificate. Excluded Contributions will be excluded from the calculation set forth in Section 4.7(a)(iii). 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means, with respect to any asset or property, the sale value that would be obtained in an
arm’s-length free market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, determined in good faith by senior
management or the Board of Directors of the Company, whose determination will be conclusive for all purposes under this Indenture. 

“Fitch” means Fitch, Inc. and any successor to its rating agency business. 

  
 15 

 “Fixed Charge Coverage Ratio” means, on any date of
determination, the ratio of (a) EBITDA for the Test Period most recently ended as of such date to (b) the Consolidated Fixed Charges for the Test Period most recently ended as of such date, all determined on a consolidated basis in
accordance with GAAP; provided that the Fixed Charge Coverage Ratio shall be determined for the relevant Test Period on a pro forma basis. 

“Foreign Subsidiary” means any Subsidiary of the Company that is not organized or incorporated under the laws
of any jurisdiction within the United States of America. 
 “Foreign Subsidiary Holding Company” means any
Subsidiary of the Company that has no material assets other than Capital Stock (or Capital Stock and Debt) of one or more “controlled foreign corporations” (within the meaning of Section 957 of the Code) or other Foreign Subsidiary
Holding Companies. 
 “GAAP” means accounting principles generally accepted in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements, and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
entity as have been approved by a significant segment of the accounting profession, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Global Note Legend” means the legend identified as such in Exhibit A. 

“Global Notes” means the Notes that are in the form of Exhibit A issued in global form and registered
in the name of the Depositary or its nominee. 
 “Guarantee” by any Person means any obligation, contingent
or otherwise, of such Person guaranteeing, or having the economic effect of guaranteeing, any Debt of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including, without limitation, any
obligation of such Person: 
 (1) to purchase or pay (or advance or supply funds for the purchase or payment
of) such Debt or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Debt; 

(2) to purchase property, securities or services for the purpose of assuring the holder of such Debt of the
payment of such Debt; or 
 (3) to maintain working capital, equity capital or other financial statement
condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Debt (and “Guaranteed,” “Guaranteeing” and “Guarantor” shall have meanings correlative to the
foregoing); 
 provided, however, that the Guarantee by any Person shall not include endorsements by such Person for
collection or deposit, in either case, in the ordinary course of business. 
 “Guarantor Coverage Test”
shall mean a test that is satisfied if, as of the applicable date of determination, the Company and the Subsidiary Guarantors (a) generated at least 80.0% of the 

  
 16 

 
EBITDA of the Company and its Restricted Subsidiaries for the Test Period most recently ended prior to such date of determination and (b) owned all material intellectual property on the last
day of the Test Period most recently ended prior to such date of determination; provided that (i) the Guarantor Coverage Test shall be determined for the relevant Test Period on a pro forma basis, (ii) if at any time the Company
requests that the Trustee approve a foreign jurisdiction as an eligible jurisdiction for Subsidiary Guarantors with the intent of adding a Subsidiary formed or organized in such foreign jurisdiction as a Subsidiary Guarantor and the Trustee declines
to approve such jurisdiction, or fails to respond to such request for approval within ten Business Days after the Company’s request, then commencing on such tenth Business Day after the Company’s request, either, at the option of the
Company, (A)(1) the EBITDA of such Restricted Subsidiary formed or incorporated in such jurisdiction shall (except to the extent actually distributed to the Company or a Subsidiary Guarantor) be excluded for all purposes of this Indenture, including
without limitation, the calculation of the Guarantor Coverage Test, the Fixed Charge Coverage Ratio, the Secured Leverage Ratio and the Total Leverage Ratio and (2) any material intellectual property (other than any material intellectual
property acquired from, or contributed by, or licensed by, the Company or a Subsidiary Guarantor) owned by such Restricted Subsidiary formed or incorporated in such jurisdiction shall be deemed owned by a Subsidiary Guarantor for all purposes of
satisfying the Guarantor Coverage Test or (B) (1) any Investment in such Restricted Subsidiary formed or incorporated in such jurisdiction must be a Permitted Investment (other than pursuant to clauses (2) or (15) thereof), (2) any
material intellectual property (other than any material intellectual property acquired from, or contributed by, or licensed by, the Company or a Subsidiary Guarantor) owned by such Restricted Subsidiary formed or incorporated in such jurisdiction
shall be deemed owned by a Subsidiary Guarantor for all purposes of satisfying the Guarantor Coverage Test and (3) the EBITDA of such Restricted Subsidiary formed or incorporated in such jurisdiction shall be excluded from the calculation of
the Guarantor Coverage Test and (iii) for purposes of clause (ii), (A) any Foreign Subsidiary organized or incorporated under the laws of England and Wales, the State of Israel, Germany, Austria or Finland shall be deemed an eligible
jurisdiction without any further action by the Trustee and (B) any Foreign Subsidiary organized or incorporated in any other foreign jurisdiction for which the Trustee receives an opinion from counsel of the Company in form and substance
reasonably satisfactory to the Trustee with respect to the enforceability of the Guarantee of such Foreign Subsidiary (subject to customary qualifications) shall be deemed an eligible jurisdiction. 

“Holder” means a Person in whose name a Note is registered on the Registrar’s books. 

“Holdings” shall mean Playtika Holding UK II Limited, a limited company incorporated under the laws of
England and Wales with registration number 11196424. 
 “IAI” means an investor constituting an
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 

“Incur” means, with respect to any Debt or other obligation of any Person, to create, issue, incur (by
conversion, exchange or otherwise), assume, Guarantee or otherwise become liable in respect of such Debt or other obligation including by acquisition of Subsidiaries or the recording, as required pursuant to GAAP or otherwise, of any such Debt or
other obligation on the balance sheet of such Person (and “Incurrence,” “Incurred” and “Incurring” shall have meanings correlative to the foregoing); provided, however, that a change
in GAAP that results in an 

  
 17 

 
obligation of such Person that exists at such time becoming Debt shall not be deemed an Incurrence of such Debt. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Initial Notes” has the meaning set forth in the preamble hereto. 

“Interest Expense” means, with respect to any Person for any period, the sum of (a) gross interest
expense of such Person for such period on a consolidated basis, including (i) the amortization of debt discounts, (ii) the amortization of all fees (including fees with respect to Swap Agreements) payable in connection with the incurrence
of Debt to the extent included in interest expense and (iii) the portion of any payments or accruals with respect to Capital Lease Obligations allocable to interest expense, (b) capitalized interest of such Person, and
(c) commissions, discounts, yield and other fees and charges incurred in connection with any Permitted Receivables Financing. For purposes of the foregoing, gross interest expense shall be determined after giving effect to any net payments made
or received and costs incurred by the Company and the Restricted Subsidiaries with respect to Swap Agreements, and interest on a Capital Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by the Company to be the
rate of interest implicit in such Capital Lease Obligation in accordance with GAAP. 
 “Investment” by any
Person means any direct or indirect loan, advance or other extension of credit or capital contribution (by means of transfers of cash or other property (other than Capital Stock that is neither Redeemable Stock nor Preferred Stock of a Restricted
Subsidiary) to others or payments for property or services for the account or use of others, or otherwise) to, or purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other Person,
including any Guarantee of any obligation of such other Person, but shall not include: 
 (1) trade accounts
receivable in the ordinary course of business; 
 (2) any Swap Agreement; and 

(3) endorsements of negotiable instruments and documents in the ordinary course of business. 

“Investment Grade Rating” means a rating equal to or higher than: 

(1) Baa3 (or the equivalent) by Moody’s; 

(2) BBB- (or the equivalent) by S&P; or 

(3) BBB- (or the equivalent) by Fitch; 

or, if any such entity ceases to rate the Notes for reasons outside of the Company’s control, the equivalent investment grade credit
rating from any other Rating Agency. 
 “Issue Date” means March 11, 2021. 

  
 18 

 “Lien” means, with respect to any property or assets, any
mortgage or deed of trust, pledge, hypothecation, assignment, deposit arrangement, security interest, lien (statutory or otherwise), charge, easement (other than any easement not materially impairing usefulness or marketability), encumbrance,
preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such property or assets (including, without limitation, any sale and leaseback arrangement, conditional sale or other
title retention agreement having substantially the same economic effect as any of the foregoing). 
 “Limited
Condition Transaction” means (1) any Permitted Business Acquisition or other Investment permitted under this Indenture or (2) unconditional repayment or redemption of, or offer to purchase, any Debt of the Company or any
subsidiary, and any action to be taken in connection with any transaction referred to in clauses (1) or (2), including the incurrence, issuance or repayment of any Debt, the granting of any Liens, the making of any Restricted Payment, the
consummation of any acquisition or disposition, and any designation or revocation of a designation of any Unrestricted Subsidiary. 

“Long Derivative Instrument” means a Derivative Instrument (i) the value of which generally increases,
and/or the payment or delivery obligations under which generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which generally
increase, with negative changes to the Performance References. 
 “Management Group” shall mean the group
consisting of the directors, executive officers and other management personnel of the Company and the Subsidiaries, as the case may be, on the Issue Date together with (x) any new directors whose election by such boards of directors or whose
nomination for election by the shareholders of the Company, was approved by a vote of a majority of the directors of the Company, then still in office who were either directors on the Issue Date or whose election or nomination was previously so
approved and (y) executive officers and other management personnel of the Company and the Subsidiaries, as the case may be, hired at a time when the directors on the Issue Date together with the directors so approved constituted a majority of
the directors of the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. and any
successor to its rating agency business. 
 “Net Available Proceeds” from any Asset Disposition by any
Person means cash or Cash Equivalents received (including by way of sale or discounting of a note, installment receivable or other receivable, but excluding any other consideration received in the form of assumption by the acquirer of Debt or other
obligations relating to such properties or assets) therefrom by such Person, net of: 
 (1) all legal, title
and recording tax expenses, commissions and other fees and expenses Incurred and all federal, state, foreign and local taxes required to be accrued as a liability as a consequence of such Asset Disposition; 

(2) all payments made by such Person or its Restricted Subsidiaries on any Debt which is secured by such assets
in accordance with the terms of any Lien upon, or with 

  
 19 

 
respect to, such assets or which must by the terms of such Lien, or in order to obtain a necessary consent to such Asset Disposition or by applicable law, be repaid out of the proceeds from such
Asset Disposition; 
 (3) all distributions and other payments made to minority interest holders in
Restricted Subsidiaries of such Person or joint ventures as a result of such Asset Disposition; and 
 (4)
appropriate amounts to be provided by such Person or any Restricted Subsidiary thereof, as the case may be, as a reserve in accordance with GAAP against any liabilities associated with such assets and retained by such Person or any Restricted
Subsidiary thereof, as the case may be, after such Asset Disposition, including, without limitation, liabilities under any indemnification obligations and severance and other employee termination costs associated with such Asset Disposition, in each
case as determined in good faith by senior management of the Company. 
 “Net Short” means, with respect to
a Holder or beneficial owner, as of a date of determination, either (i) the value of its Short Derivative Instruments exceeds the sum of (x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date
of determination or (ii) it is reasonably expected that such would have been the case were a “Failure to Pay” or “Bankruptcy Credit Event” (each as defined in the 2014 ISDA Credit Derivatives Definitions) to have occurred
with respect to the Company or any Subsidiary Guarantor immediately prior to such date of determination. 
 “Note
Custodian” means the Person appointed as custodian for the Depositary with respect to the Global Notes, or any successor entity thereto. 

“Notes” means the Initial Notes and any Additional Notes. The Initial Notes and the Additional Notes, if any,
shall be treated as a single class for all purposes under this Indenture; provided that, for the avoidance of doubt, any Additional Notes that are not fungible with the existing Notes for U.S. federal income tax purposes shall have one or
more separate CUSIP and ISIN numbers. 
 “Offer to Purchase” means a written offer (the
“Offer”) sent by the Company by first class mail, postage prepaid, to each Holder at such Holder’s address appearing in the security register or, with respect to Global Notes, given in accordance with DTC procedures (with a
copy to the Trustee) on the date of the Offer offering to purchase up to the principal amount of Notes specified in such Offer at the purchase price specified in such Offer (as determined pursuant to this Indenture). Unless otherwise required by
applicable law, the Offer shall specify an expiration date (the “Offer Expiration Date”) of the Offer to Purchase which shall be, subject to any contrary requirements of applicable law, not less than ten days or more than 60 days
after the date of such Offer and a settlement date (the “Purchase Date”) for purchase of Notes within three Business Days after the Offer Expiration Date. The Offer shall contain a description of the events requiring the Company to
make the Offer to Purchase and all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Offer to Purchase. The Offer shall also state: 

  
 20 

 (1) the section of this Indenture pursuant to which the
Offer to Purchase is being made; 
 (2) the Offer Expiration Date and the Purchase Date and, if such Offer is
made in advance of a Change of Control and conditioned upon the occurrence of a Change of Control, that the Offer is conditioned upon the occurrence of a Change of Control; 

(3) the aggregate principal amount of the outstanding Notes offered to be purchased by the Company pursuant to
the Offer to Purchase (including, if less than 100%, the manner by which such amount has been determined pursuant to the section of this Indenture requiring the Offer to Purchase) (the “Purchase Amount”); 

(4) the purchase price to be paid by the Company for the Notes (in minimum principal amounts of $2,000 and
integral multiples of $1,000 in excess thereof) accepted for payment (as specified pursuant to this Indenture) (the “Purchase Price”); 

(5) that the Holder may tender all or any portion of the Notes registered in the name of such Holder and that
any portion of a Note tendered must be tendered in minimum principal amounts of $2,000 and integral multiples of $1,000 in excess thereof; 

(6) the place or places where Notes are to be surrendered for tender pursuant to the Offer to Purchase; 

(7) that interest on any Note not tendered or tendered but not purchased by the Company pursuant to the Offer
to Purchase will continue to accrue; 
 (8) that on the Purchase Date the Purchase Price will become due and
payable upon each Note being accepted for payment pursuant to the Offer to Purchase and that interest thereon shall cease to accrue on and after the Purchase Date; 

(9) that each Holder electing to tender a Note pursuant to the Offer to Purchase will be required to surrender
such Note at the place or places specified in the Offer prior to the close of business on the Expiration Date (such Note being, if the Company or the Trustee so requires, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing); 

(10) that Holders will be entitled to withdraw all or any portion of Notes tendered if the Company (or its
Paying Agent) receives, not later than the close of business on the Expiration Date, a telegram, telex, facsimile transmission or letter, or otherwise complies with the procedures of the Depositary, setting forth the name of the Holder, the
principal amount of the Note or Notes the Holder tendered, the certificate number or numbers of the Note or Notes the Holder tendered and a statement that such Holder is withdrawing all or a portion of his tender; 

(11) that (a) if Notes in an aggregate principal amount less than or equal to the Purchase Amount are duly
tendered and not withdrawn pursuant to the Offer to Purchase, the Company shall purchase all such Notes and (b) if Notes in an aggregate principal 

  
 21 

 
amount in excess of the Purchase Amount are tendered and not withdrawn pursuant to the Offer to Purchase, the Company shall purchase Notes having an aggregate principal amount equal to the
Purchase Amount on a pro rata basis (with such adjustments as may be deemed appropriate so that only Notes in minimum denominations of $2,000 or integral multiples of $1,000 in excess thereof shall be purchased); and 

(12) that in the case of any Holder whose Note is purchased only in part, the Company shall execute, and, upon
receipt of written instruction from the Company, the Trustee shall authenticate and deliver to the Holder of such Note without service charge, a new Note or Notes, of any authorized denomination as requested by such Holder, in an aggregate principal
amount equal to and in exchange for the unpurchased portion of the Note so tendered. 
 If any of the Notes subject to an
Offer to Purchase is in global form, then the Offer shall be modified by the Company to the extent necessary to comply with the procedures of the Depositary applicable to repurchases. Any Offer to Purchase shall be governed by and effected in
accordance with the Offer for such Offer to Purchase. 
 “Offering Memorandum” means the Company’s
offering memorandum, dated March 5, 2021, relating to the offer and sale of the Initial Notes. 

“Officer” means the Chairman of the Board of Directors, the Chief Executive Officer, the Chief Financial
Officer, the Chief Legal Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer, the Controller or the Secretary of the Company or of any other Person, as the case may be, or in the event that
the Company or such Person is a partnership or a limited liability company that has no such officers, a Person duly authorized under applicable law by the general partner, managers, members or a similar body to act on behalf of the Company or such
Person. 
 “Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer
of the Company or on behalf of any other Person by an Officer of such Person, as the case may be, that meets the requirements of Section 11.3. 

“Operations Services Agreement” shall mean any services agreement, management agreement, marketing services
agreement, data sharing agreement, shared services agreement, customer support services agreement, AI services agreement, software license and distribution agreement, development services agreement, outsourcing services agreement, intercompany
purchase agreement, guarantee fee agreement, publishing agreement, and similar agreements and arrangements entered into by the Company or any of its Restricted Subsidiaries with the Company or any of its Restricted Subsidiaries in the ordinary
course of business providing for the provision or sale of goods and services or the licensing or sharing of intellectual property rights on a cost, cost plus or other arms- length basis and any and all modifications thereto, substitutions therefor
and replacements thereof so long as such modifications, substitutions and replacements are entered into not in violation of this Agreement. 

  
 22 

 “Opinion of Counsel” means a written opinion from legal
counsel who is reasonably satisfactory to the Trustee. The counsel may be an employee of or counsel to the Company and/or its Subsidiaries. 

“Parent Entity” means any direct or indirect parent of the Company. 

“Pari Passu Debt” means Debt of the Company or a Subsidiary Guarantor that is pari passu in
right of payment with the Notes, in the case of the Company, or the Subsidiary Guarantees, in the case of any Subsidiary Guarantor. For the purposes of this definition, no Debt will be considered to be senior or junior by virtue of being secured on
a first or junior priority basis. 
 “Participant” means, with respect to the Depositary, a Person who has
an account with the Depositary. 
 “Paying Agent” means any Person authorized by the Company to pay the
principal of, premium, if any, or interest on any Notes on behalf of the Company. 
 “Performance
References” has the meaning set forth for such term in the definition of “Derivative Instrument.” 

“Permitted Business Acquisition” means any acquisition of all or substantially all the assets of, or a
majority of the equity interests in, or merger, consolidation or amalgamation with, a Person or a division or line of business of a Person (it being understood that a single mobile game or the intellectual property rights necessary for a single
mobile game shall constitute a line of business) (or any subsequent investment made in a Person, division or line of business previously acquired in a Permitted Business Acquisition), if immediately after giving effect thereto (or in the case of
clause (i), if an election is made by the Company to treat the Permitted Business Acquisition as a Limited Condition Transaction, as of the applicable date that the definitive agreements for such Limited Condition Transaction (or commitments with
respect to Debt to be incurred in connection therewith) are entered into): (i) no Event of Default shall have occurred and be continuing or would result therefrom; (ii) all transactions related thereto shall be consummated in accordance with
applicable laws; (iii) after giving effect to such acquisition or investment and any related transactions, the Company shall be in compliance with the Guarantor Coverage Test on a pro forma basis; and (iii) any acquired or newly formed
Restricted Subsidiary shall not be liable for any Debt except for Debt permitted by Section 4.9. 
 “Permitted
Holder” means each of (i) the Management Group, (ii) Holdings, Alpha, the Alpha Shareholders or any subsidiary or Affiliate of Holdings, Alpha or the Alpha Shareholders, (iii) any Person that has no material assets other than
the capital stock of Holdings, the Company or other Permitted Holders and that, directly or indirectly, holds or acquires beneficial ownership of 100% on a fully diluted basis of the voting Capital Stock in the Company, and of which no other Person
or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Issue Date), other than any of the other Permitted Holders
specified in clauses (i) through (iii), beneficially owns more than 50% on a fully diluted basis of the voting Capital Stock thereof, and (iv) any “group” (within the meaning of Rules 13d-3
and 13d-5 under the Exchange Act as in effect on the Issue Date) the members of which include any of the other Permitted Holders specified in clauses (i) through (iii) above and that, directly or
indirectly, hold or acquire beneficial 

  
 23 

 
ownership of the voting Capital Stock in the Company (a “Permitted Holder Group”), so long as (1) each member of the Permitted Holder Group has voting rights proportional to
the percentage of ownership interests held or acquired by such member and (2) no Person or other “group” (other than the other Permitted Holders specified in clauses (i) through (iii) above) beneficially owns more than 50% on a
fully diluted basis of the voting Capital Stock held by the Permitted Holder Group. 
 “Permitted
Investments” means: 
 (1) any Investment in the Company or a Restricted Subsidiary or a Person or
assets that will become or be merged into or consolidated or amalgamated with a Restricted Subsidiary as a result of such Investment, and any Investment held by a Person at the time it is acquired by or merged into the Company or a Restricted
Subsidiary acquired after the Issue Date or of an entity merged into the Company or merged into or consolidated or amalgamated with a Restricted Subsidiary after the Issue Date, in each case, (i) to the extent such acquisition, merger,
consolidation or amalgamation was or is permitted under this Indenture and (ii) to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, consolidation or amalgamation and were in
existence on the date of such acquisition, merger, consolidation or amalgamation; 
 (2) (i) Investments by
the Company or a Restricted Subsidiary in the Capital Stock of the Company or a Restricted Subsidiary; (ii) intercompany loans from the Company or a Restricted Subsidiary to the Company or a Restricted Subsidiary; and (iii) Guarantees by
the Company or a Restricted Subsidiary of Indebtedness otherwise permitted hereunder of the Company or a Restricted Subsidiary, in each case of subclauses (i)-(iii), so long as after giving effect to such Investment, intercompany loan or Guarantee,
the Company shall be in compliance with the Guarantor Coverage Test on a pro forma basis; provided that intercompany loans made under this clause (2) after the Issue Date by any Subsidiaries that are not Subsidiary Guarantors to any
Subsidiaries that are not Subsidiary Guarantors and that are organized under the laws of the State of Israel shall not exceed (x) $35.0 million plus (y) an amount equal to any returns (including dividends, interest, distributions, returns
of principal, profits on sale, repayments, income and similar amounts) actually received in respect of any such Investment; 

(3) any Investment in (i) cash and Cash Equivalents, (ii) time deposit accounts, certificates of
deposit and money market deposits in an aggregate face amount not in excess of 2.5% of the Consolidated Total Assets as of the end of the Company’s most recently completed fiscal year, or (iii) Swap Agreements not entered into for
speculative purposes; 
 (4) any non-cash consideration received in
connection with an Asset Disposition (or a disposition excluded from the definition of Asset Disposition) that was made in compliance with Section 4.10; 

(5) prepaid expenses advanced to employees, officers or managers in the ordinary course of business or other
loans or advances to employees, officers or managers (i) in the ordinary course of business not to exceed the greater of (i) $75.0 million and (ii) 8.5% of EBITDA for the most recently ended Reference Period determined at the time of

  
 24 

 
such payment in the aggregate at any one time outstanding, (ii) in respect of payroll payments and expenses in the ordinary course of business and (iii) in connection with such
Person’s purchase of Capital Stock of the Company or any Parent Entity solely to the extent that the amount of such loans and advances shall be contributed to the Company in cash as common equity; 

(6) guarantees of Debt made in compliance with Section 4.9; 

(7) any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue
Date or an Investment consisting of any extension, modification or renewal of any Investment existing on the Issue Date; provided that the amount of any such Investment may only be increased pursuant to this clause (7) to the extent
required by the terms of such Investment as in existence on the Issue Date or as otherwise permitted under this Indenture; 

(8) Investments consisting of Restricted Payments permitted by Section 4.7; 

(9) any Investment solely in exchange for the issuance of Capital Stock (other than Disqualified Stock) of the
Company, or made solely with the proceeds of the issuance of Capital Stock (other than Disqualified Stock) of the Company; 

(10) deposits made in the ordinary course of business to secure the performance of leases or other obligations
as permitted by Section 4.12; 
 (11) purchases of assets in the ordinary course of business; 

(12) accounts receivable, security deposits and prepayments arising and trade credit granted in the ordinary
course of business and any assets or securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss and any prepayments and other
credits to suppliers made in the ordinary course of business; 
 (13) Investments received in connection with
the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with or judgments against, customers and suppliers, in each case in the ordinary course of business or Investments acquired by the Company or any Restricted
Subsidiary as a result of a foreclosure by the Company or any of the Restricted Subsidiaries with respect to any secured Investments or other transfer of title with respect to any secured Investment in default; 

(14) any Investment in an Unrestricted Subsidiary which, together with any other outstanding Investment made
pursuant to this clause (14), does not exceed, at any one time outstanding, the greater of (i) $100.0 million and (ii) 11.5% of EBITDA for the most recently ended Reference Period determined at the time of such Investment, provided that
if any Investment pursuant to this clause (14) is made in any Unrestricted Subsidiary and such Unrestricted Subsidiary is redesignated a Restricted Subsidiary of the Company after such date, such redesignation shall increase the amount
available pursuant to this clause (14) by an amount equal to the Fair Market Value (as determined in good faith by the 

  
 25 

 
Company) of the Company’s Investments in such Restricted Subsidiary previously made in reliance on this clause (14) at the time of such redesignation; 

(15) Investments constituting Permitted Business Acquisitions; 

(16) acquisitions by the Company of obligations of one or more officers or other employees of any Parent
Entity, the Company or its Restricted Subsidiaries in connection with such officer’s or employee’s acquisition of Capital Stock of the Company or any Parent Entity, so long as no cash is actually advanced by the Company or any of the
Restricted Subsidiaries to such officers or employees in connection with the acquisition of any such obligations; 

(17) Guarantees by the Company or any Restricted Subsidiary of operating leases (other than Capital Lease
Obligations) or of other obligations that do not constitute Debt, in each case entered into by the Company or any Restricted Subsidiary in the ordinary course of business; 

(18) Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3
endorsements for collection or deposit and Uniform Commercial Code Article 4 customary trade arrangements with customers consistent with past practices; 

(19) Investments by the Company and its Restricted Subsidiaries, including loans and advances to any direct or
indirect parent of the Company, if the Company or such Restricted Subsidiary would otherwise be permitted to make a Restricted Payment in such amount (provided that the amount of any such Investment shall also be deemed to be a Restricted
Payment under Section 4.7); 
 (20) Investments consisting of Receivables Assets or arising as a result
of Permitted Receivables Financings; 
 (21) Investments consisting of or to finance purchases and
acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or purchases, sales, licenses or sublicenses or leases of intellectual property; 

(22) any Investment made pursuant to any Operations Services Agreement;  

(23) Investments in joint ventures not in excess of the greater of (x) $150.0 million and 17.5% of EBITDA
for the most recently ended Reference Period determined at the time of such Investment plus (y) an aggregate amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income
and similar amounts) actually received by the respective investor in respect of investments theretofore made by it pursuant to this clause (23); provided that if any Investment pursuant to this clause (23) is made in any Person that is
not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall, upon the election of the Company , thereafter be deemed to
have been made pursuant to clause (2) above and shall 

  
 26 

 
cease to have been made pursuant to this clause (23) for so long as such Person continues to be a Restricted Subsidiary of the Company; 

(24) any Investment (i) deemed to exist as a result of a subsidiary distributing a note or other
intercompany debt to a parent of such subsidiary (to the extent there is no cash consideration or services rendered for such note), and (ii) consisting of intercompany current liabilities in connection with the cash management, tax and
accounting operations of the Company and its subsidiaries; 
 (25) [Reserved]; 

(26) any other Investment; provided that, immediately before and immediately after giving pro forma
effect to the making of any such Investment and any Debt incurred in connection therewith, (x) no Default or Event of Default shall have occurred and be continuing and (y) the Total Leverage Ratio of the Company would not exceed 3.75 to
1.00; 
 (27) Investments in a Similar Business in an aggregate amount (valued at the time of the making
thereof, and without giving effect to any write downs or write offs thereof), which, when together with all other Investments made pursuant to this clause (27) since the Issue Date and outstanding on the date such Investment is made, does not
exceed, at any one time outstanding, the greater of (i) $150.0 million and (ii) 17.5% of EBITDA for the most recently ended Reference Period determined at the time of such Investment (plus any returns (including dividends, interest,
distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received by the respective investor in respect of investments theretofore made by it pursuant to this clause (27)); provided that if any
Investment pursuant to this clause (27) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such
Investment shall, upon the election of the Company, thereafter be deemed to have been made pursuant to clause (2) above and shall cease to have been made pursuant to this clause (27) for so long as such Person continues to be a Restricted
Subsidiary of the Company; and 
 (28) any other Investment that, when taken together with all other
Investments made pursuant to this clause (28) since the Issue Date and outstanding on the date such Investment is made, does not exceed, at any one time outstanding, the greater of (i) $200.0 million and (ii) 23.5% of EBITDA for the most
recently ended Reference Period determined at the time of such Investment (plus any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received by the
respective investor in respect of investments theretofore made by it pursuant to this clause (28)), provided that if any Investment pursuant to this clause (28) is made in any Person that is not a Restricted Subsidiary of the Company at
the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall, upon the election of the Company, thereafter be deemed to have been made pursuant to clause
(2) above and shall cease to 

  
 27 

 
have been made pursuant to this clause (28) for so long as such Person continues to be a Restricted Subsidiary of the Company. 

“Permitted Liens” means, with respect to any Person: 

(1) Liens securing Debt under Debt Facilities outstanding or Incurred under clause (1) of the definition
of Permitted Debt; 
 (2) Liens solely on any cash earnest money deposits made by the Company or any of the
Restricted Subsidiaries in connection with any letter of intent or purchase agreement in respect of any Permitted Investment; 

(3) Liens securing any Debt which became Debt pursuant to a transaction permitted under Section 5.1 or
securing Debt which was created prior to (and not created in connection with, or in contemplation of) the Incurrence of such Debt (including any assumption, guarantee or other liability with respect thereto by any Restricted Subsidiary) and which
Debt is permitted under the provisions of Section 4.9; 
 (4) Liens imposed by law, including
carriers’, warehousemen’s, landlord’s, materialmen’s, processors’ and mechanics’ Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings if a reserve or other appropriate
provisions, if any, as shall be required by GAAP shall have been made in respect thereof; 
 (5) Liens for
taxes, assessments or other governmental charges not yet subject to penalties for nonpayment or which are being contested in good faith by appropriate proceedings provided appropriate reserves required pursuant to GAAP have been made in respect
thereof; 
 (6) Liens under the Company’s joint collateral accounts, concentration accounts, deposit
accounts or other funds maintained with a depositary institution or bank; provided that such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the Company in excess of those set
forth by regulations issued by the Federal Reserve Board; 
 (7) Liens on assets, property or shares of stock
of a Person existing at the time such Person becomes a Restricted Subsidiary or is merged with or into or consolidated or amalgamated with the Company or any Restricted Subsidiary (and replacements and extensions of such Liens); provided,
however, that such Liens shall not extend to any other property owned by the Company or any Restricted Subsidiary; 

(8) encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights of
way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use
of real properties or liens incidental to the conduct of the business of such Person or to the ownership of its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the
operation of the business of 

  
 28 

 
such Person, and, in the case of real property constituting a leasehold interest, any Lien to which the fee simple interest is subject; 

(9) leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and
intellectual property rights) which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries; 

(10) Liens existing on the Issue Date (other than Liens permitted under clause (1)); 

(11) pledges or deposits by such Person under the Federal Employers’ Liability Act or any other
workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Debt) or leases to which such Person is a party, or deposits to
secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import or customs duties or
for the payment of rent, in each case Incurred in the ordinary course of business; 
 (12) judgment Liens not
giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings which may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such
proceedings may be initiated has not expired; 
 (13) any encumbrance or restriction (including put and call
arrangements) with respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement; 

(14) Liens for the purpose of securing the payment of all or a part of the purchase price of, purchase money
obligations or other payments Incurred to finance the acquisition, lease, improvement or construction of or repairs or additions to, assets or property acquired or constructed by the Company or a Restricted Subsidiary in the ordinary course of
business; provided that (a) the aggregate principal amount of Debt secured by such Liens is otherwise permitted to be Incurred under this Indenture and does not exceed the cost of the assets or property so acquired or constructed, and
(b) such Liens are created within 180 days of the later of the acquisition, lease, completion of improvements, construction, repairs or additions or commencement of full operation of the assets or property subject to such Lien and do not
encumber any other assets or property of the Company or any Restricted Subsidiary other than such assets or property and assets affixed or appurtenant thereto; 

(15) any interest or title of a lessor under any Capital Lease Obligation Incurred under clause (8) of the
definition of Permitted Debt; provided that such Liens do not extend to any property or assets which is not leased property subject to such Capital Lease Obligation and provided, further that individual financings provided by
one lender may be 

  
 29 

 
cross-collateralized to other financings provided by such lender and incurred under clause (8) of the definition of Permitted Debt; 

(16) Liens upon specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of letters of credit, bank guarantees or bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(17) Liens securing reimbursement obligations with respect to commercial letters of credit which encumber
documents and other property relating to such letters of credit and products and proceeds thereof; 
 (18)
Liens encumbering deposits made to secure obligations arising from statutory, regulatory, contractual or warranty requirements of the Company or any of its Subsidiaries, including banker’s liens, rights of offset and set-off; 
 (19) Liens securing (i) Swap Agreements not entered into
for speculative purposes or (ii) Cash Management Agreements entered into in connection with the Refinancing Transactions or in the ordinary course of business; 

(20) Liens on assets of any Foreign Subsidiary or Restricted Subsidiary that is not a Subsidiary Guarantor
securing Debt of such Foreign Subsidiary or Restricted Subsidiary, in each case, that is permitted to be Incurred under clause (10) of the definition of Permitted Debt; 

(21) Liens on cash, cash equivalents or other property arising in connection with the discharge or redemption
of Debt; 
 (22) Liens on any real property constituting exceptions to title as set forth in a mortgage title
policy delivered to a secured lender with respect thereto; 
 (23) Liens on insurance policies and the
proceeds thereof securing the financing of premiums with respect thereto; provided that such Liens shall not exceed the amount of such premiums so financed; 

(24) Liens in favor of the Company or a Restricted Subsidiary; 

(25) Liens arising from filing Uniform Commercial Code financing statements regarding leases or precautionary
Uniform Commercial Code financings statements or similar filings; 
 (26) Liens to secure Debt permitted
under clause (14) of the definition of Permitted Debt; provided that such Liens (i) are limited to securing only the unpaid premiums under the applicable insurance policy and (ii) only encumber the proceeds of the applicable
insurance policy; 

  
 30 

 (27) Liens with respect to property or assets of any
Subsidiaries that are not Subsidiary Guarantors securing Debt and obligations of another Subsidiary that is not a Subsidiary Guarantor if such Debt is Permitted Debt; 

(28) Liens on any amounts Liens on any amounts held by a trustee or agent under any indenture or other debt
agreement issued in escrow pursuant to customary escrow arrangements pending the release thereof, or under any indenture or other debt agreement pursuant to customary discharge, redemption or defeasance provisions (including Liens securing any
(A) Debt that has been defeased or discharged or (B) Debt issued in escrow pursuant to customary escrow arrangements pending the release thereof permitted under this Indenture); 

(29) the prior rights of consignees and their lenders under consignment arrangements entered into in the
ordinary course of business, and any agreements to subordinate any interest of the Company or any Restricted Subsidiary in any accounts receivable or other proceeds arising from inventory consigned by the Company or any of the Restricted
Subsidiaries pursuant to an agreement entered into in the ordinary course of business; 
 (30) Liens on
securities that are the subject of repurchase agreements constituting Permitted Investments; 
 (31) Liens in
respect of Permitted Receivables Financings that extend only to the assets subject thereto and Capital Stock of Special Purpose Receivables Subsidiaries; 

(32) other Liens with respect to property or assets of the Company or any Restricted Subsidiary;
provided that (i) after giving effect to the creation, incurrence, acquisition or assumption of any such Lien and Debt, if any, secured by such Lien (or any prior Debt becomes so secured), the Secured Leverage Ratio on a pro forma basis
shall not be greater than 5.00 to 1.00, (ii) at the time of the incurrence of such Lien and after giving effect thereto, to the extent required by the lenders providing the related Debt , no Event of Default shall have occurred and be continuing or
would result therefrom (provided that if such related Debt is established for a purpose other than financing any Permitted Business Acquisition or any Permitted Investment, no Event of Default under clauses (1), (2), (7) (with respect to the
Company) and (8) (with respect to the Company) shall have occurred and be continuing or would result therefrom) and (iii) the Debt or other obligations secured by such Lien are otherwise permitted by this Indenture; 

(33) Liens to secure Debt permitted under clauses (18) and (19) of the definition of Permitted Debt; 

(34) Liens not otherwise covered by clauses (1) through (33) securing Debt in the aggregate amount
outstanding at any time not to exceed, at any one time outstanding, the greater of (i) $400.0 million and (ii) 46.5% of EBITDA determined for the most recently ended Reference Period; and 

(35) Liens securing Debt Incurred to refinance Debt or other obligations (other than Liens permitted under
clause (1)) that was previously so secured (or otherwise 

  
 31 

 
replacing any such Lien); provided that any such Lien is limited to all or part of the same property or assets (plus improvements, accessions, proceeds or dividends or distributions in
respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Debt or other obligations being refinanced or is in respect of property that is the security for a Permitted Lien hereunder.

 In the event that a Lien meets the criteria of more than one of the types of Liens described in this definition of
“Permitted Debt,” the Company, in its sole discretion, may classify such Lien on the date of Incurrence (or later classify or reclassify such Lien, in its sole discretion) in any manner permitted by this definition and shall only be
required to include the amount and type of such Lien in one of such clauses; provided that all Liens outstanding on the Issue Date under the Credit Facilities shall be deemed Incurred under clause (1) and may not later be reclassified.

 “Permitted Receivables Financings” means one or more transactions pursuant to which (i) Receivables
Assets or interests therein are sold or transferred to or financed by one or more Special Purpose Receivables Subsidiaries, and (ii) such Special Purpose Receivables Subsidiaries finance (or refinance) their acquisition of such Receivables
Assets or interests therein, or the financing thereof, by selling or borrowing against Receivables Assets (including conduit and warehouse financings) and any Swap Agreements entered into in connection with such Receivables Assets; provided
that recourse to the Company or any Subsidiary (other than the Special Purpose Receivables Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Company in good faith) for similar
transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Company or any
Restricted Subsidiary (other than a Special Purpose Receivables Subsidiary)). 
 “Permitted Refinancing
Debt” means any Debt of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Debt of the Company or any of its
Restricted Subsidiaries; provided that: 
 (1) the principal amount (or accreted value, if applicable)
of such Permitted Refinancing Debt does not exceed the principal amount of, plus premium, if any, and accrued and unpaid interest on the Debt so extended, refinanced, renewed, replaced, defeased or refunded (plus the amount of reasonable expenses
incurred in connection therewith); 
 (2) the Permitted Refinancing Debt has a final maturity date no earlier
than the earlier of the final maturity date of the Debt being extended, refinanced, renewed, replaced, deferred or refunded and 91 days after the final maturity date of the Notes; 

(3) the Permitted Refinancing Debt has an Average Life at the time such Permitted Refinancing Debt is Incurred
that is equal to or greater than the shorter of (A) the Average Life of the Debt being extended, refinanced, renewed, replaced, deferred or refunded and (B) 91 days after the Average Life of the Notes; 

  
 32 

 (4) if the Debt being extended, refinanced, renewed,
replaced, defeased or refunded is subordinated in right of payment to the Notes or a Subsidiary Guarantee, such Permitted Refinancing Debt is subordinated in right of payment to the Notes or such Subsidiary Guarantee on terms at least as favorable,
taken as a whole, to the Holders of Notes as those contained in the documentation governing the Debt being extended, refinanced, renewed, replaced, defeased or refunded; and 

(5) such Debt shall not include Debt of a Restricted Subsidiary that is not a Subsidiary Guarantor that
refinances Debt of the Company or a Subsidiary Guarantor. 
 “Person” means any individual, corporation,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock” of any Person means Capital Stock of such Person of any class or classes (however
designated) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding-up of such Person, to shares of Capital
Stock of any other class of such Person. 
 “Rating Agency” means each of S&P, Moody’s or Fitch,
or if (and only if) S&P, Moody’s, Fitch or any combination thereof shall not make a rating on the Notes publicly available, a nationally recognized statistical rating organization or organizations, as the case may be, selected by the
Company, which shall be substituted for S&P, Moody’s or Fitch, or any combination thereof, as the case may be. 

“Receivables Assets” means any of the following assets (or interests therein) from time to time originated,
acquired or otherwise owned by the Company or any subsidiary or in which the Company or any subsidiary has any rights or interests, in each case, without regard to where such assets or interests are located: (a) accounts receivable (including
any bills of exchange) and related assets and property, (b) franchise fees, management fees, royalties and other similar payments made related to the use of trade names and other intellectual property rights, business support, training and
other services, (c) revenues related to distribution and merchandising of the products of the Company and its subsidiaries, (d) rents, real estate taxes and other non-royalty amounts due from
franchisees, (e) intellectual property rights relating to the generation of any of the types of assets listed in this definition, (f) any equity interests in any Special Purpose Receivables Subsidiary or any subsidiary of a Special Purpose
Receivables Subsidiary and any rights under any limited liability company agreement, trust agreement, shareholders agreement, organization or formation documents or other agreement entered into in furtherance of the organization of such entity,
(g) any equipment, contractual rights with unaffiliated third parties, website domains and associated property and rights necessary for a Special Purpose Receivables subsidiary to operate in accordance with its stated purposes; (h) any
rights and obligations associated with gift card or similar programs, and (i) other assets and property (or proceeds of such assets or property) to the extent customarily included in securitization transactions of the relevant type in the
applicable jurisdictions (as determined by the Company in good faith). 
 “Receivables Sale” of any Person
means any sale of Receivables of such Person (pursuant to a purchase facility or otherwise), other than in connection with a disposition of the business 

  
 33 

 
operations of such Person relating thereto or a disposition of defaulted Receivables for purposes of collection and not as a financing arrangement. 

“Redeemable Stock” of any Person means any Capital Stock of such Person that by its terms (or by the terms of
any security into which it is convertible or for which it is exchangeable) or otherwise (including upon the occurrence of an event) matures or is required to be redeemed (other than in exchange for Capital Stock of the Company that is not Redeemable
Stock) or is convertible into or exchangeable for Debt or is redeemable at the option of the holder thereof (other than in exchange for Capital Stock of the Company that is not Redeemable Stock), in whole or in part, at any time prior to the final
Stated Maturity of the Notes. Notwithstanding the preceding sentence, any Capital Stock that would constitute Redeemable Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon the
occurrence of a change of control or an asset sale shall not constitute Redeemable Stock if the terms of such Capital Stock provide that the Company shall not repurchase or redeem any such Capital Stock pursuant to such provisions unless such
repurchase or redemption complies with Section 4.7. 
 “Reference Period” means any period of four
consecutive fiscal quarters of the Company for which financial statements have been or are required to have been delivered. 

“Refinancing Transactions” shall have the meaning ascribed to it in the Offering Memorandum. 

“Regulated Bank” means a commercial bank with consolidated combined capital and surplus of at least
$5,000,000,000 that is (i) a U.S. depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a
branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board of Governors under 12 CFR part 211; (iv) a non-U.S. branch of a foreign
bank managed and controlled by a U.S. branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank
regulatory authority in any jurisdiction. 
 “Regulation S Legend” means the legend identified as such in
Exhibit A. 
 “Replacement Assets” means: 

(1) properties and assets (other than cash, Cash Equivalents, any Capital Stock or other security) that will be
used in the business of the Company and its Restricted Subsidiaries as conducted on the Issue Date or any business ancillary thereto or supportive thereof; and 

(2) Capital Stock of any Person that is engaged in the business of the Company and its Restricted Subsidiaries
as conducted on the Issue Date or any business ancillary thereto or supportive thereof and that will be merged or consolidated with or into the Company or a Restricted Subsidiary or that will become a Restricted Subsidiary. 

  
 34 

 “Responsible Officer” means, when used with respect to the
Trustee, any officer within the corporate trust department of the Trustee assigned by the Trustee to administer its corporate trust matters or any other officer of the Trustee who customarily performs functions similar to those performed by the any
of such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject and who, in each case, shall have direct responsibility for the administration of this
Indenture. 
 “Restricted Notes Legend” means the legend identified as such in Exhibit A. 

“Restricted Subsidiary” means any Subsidiary of the Company, whether existing on or after the Issue Date,
unless such Subsidiary is an Unrestricted Subsidiary. 
 “S&P” means S&P Global Ratings, and any
successor to its rating agency business. 
 “Screened Affiliate” means any Affiliate of a Holder
(i) that makes investment decisions independently from such Holder and any other Affiliate of such Holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other
Affiliate of such Holder that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Company or its Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other
Affiliate of such Holder that is acting in concert with such Holder in connection with its investment in the Notes and (iv) whose investment decisions are not influenced by the investment decisions of such Holder or any other Affiliate of such
Holder that is acting in concert with such Holders in connection with its investment in the Notes. 
 “SEC”
means the U.S. Securities and Exchange Commission or any successor thereto. 
 “Secured Debt” means all
Debt (other than letters of credit or bank guarantees, to the extent undrawn) consisting of Capital Lease Obligations, Debt for borrowed money and Disqualified Stock of the Company and the Restricted Subsidiaries determined on a consolidated basis
on such date in accordance with GAAP (other than (A) Debt that has been defeased or discharged or (B) Debt issued in escrow pursuant to customary escrow arrangements pending the release thereof) that in each case is then secured by Liens
on any property or assets of the Company or any Restricted Subsidiary 
 “Secured Net Debt” at any date
shall mean (i) the aggregate principal amount (without duplication) of all Secured Debt of the Company and the Restricted Subsidiaries outstanding at such date, less (ii) without duplication, the aggregate amount of all unrestricted cash
and Permitted Investments of the Company and the Restricted Subsidiaries on such date. 
 “Secured Leverage
Ratio” means, as of any date of determination, the ratio of (1) Secured Net Debt as of the end of the last day of the Test Period most recently ended as of such date to (2) EBITDA of the Company and its Restricted Subsidiaries for
Test Period most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP ; provided that the Secured Leverage Ratio shall be determined for the relevant Test Period on a pro forma basis. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations of the SEC
promulgated thereunder, as amended. 

  
 35 

 “Short Derivative Instrument” means a Derivative Instrument
(i) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase, with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the
payment or delivery obligations under which generally decrease, with negative changes to the Performance References. 

“Significant Restricted Subsidiary” means, at any date of determination, any Restricted Subsidiary that,
together with its Restricted Subsidiaries, represents 10% or more of the Company’s total consolidated assets at the end of the most recent fiscal quarter for which financial information is available or 10% or more of the Company’s
consolidated net revenues or consolidated operating income for the most recent four quarters for which financial information is available. 

“Similar Business” shall mean any business, the majority of whose revenues are derived from (i) business
or activities conducted or contemplated to be conducted by the Company and the Restricted Subsidiaries on the Issue Date or (ii) any business that is a natural outgrowth or reasonable extension, development or expansion of any such business or
any business similar, reasonably related, incidental, complementary or ancillary to any of the foregoing. 

“Special Purpose Receivables Subsidiary” shall mean (i) a direct or indirect subsidiary of the Company
established in connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner (as determined by the Company in good faith) intended to reduce the likelihood that
it would be substantively consolidated with the Company or any of the subsidiaries of the Company (other than Special Purpose Receivables Subsidiaries) in the event the Company or any such subsidiary becomes subject to a proceeding under the United
States Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Receivables Subsidiary. 

“Stated Maturity” means, when used with respect to any Debt or any installment of interest on such Debt, the
dates specified in such Debt as the fixed date on which the principal of such Debt or such installment of interest, as the case may be, is due and payable. 

“Subordinated Debt” means Debt of the Company or a Subsidiary Guarantor that is expressly subordinated or
junior in right of payment to the Notes or a Subsidiary Guarantee, as applicable, pursuant to a written agreement to that effect. 

“Subsidiary” of any Person means: 

(1) a corporation more than 50% of the combined voting power of the outstanding Voting Stock of which is owned,
directly or indirectly, by such Person or by one or more other Subsidiaries of such Person or by such Person and one or more Subsidiaries thereof; or 

(2) any other Person (other than a corporation) in which such Person, or one or more other Subsidiaries of such
Person or such Person and one or more other Subsidiaries thereof, directly or indirectly, has at least a majority ownership and power to direct the policies, management and affairs thereof. 

  
 36 

 “Subsidiary Guarantee” means the Guarantee by any
Subsidiary Guarantor of the Company’s obligations under this Indenture. 
 “Subsidiary
Guarantor” means each Restricted Subsidiary on the Issue Date that is a party to this Indenture for purposes of providing a Subsidiary Guarantee with respect to the Notes, and each other Restricted Subsidiary that is required to, or at
the election of the Company, does become a Subsidiary Guarantor by the terms of this Indenture after the Issue Date and their respective successors and assigns, in each case, until such Person is released from its Subsidiary Guarantee in accordance
with the terms of this Indenture. 
 “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 credit spread transaction, repurchase transaction, reserve repurchase transaction, securities lending transaction, weather index transaction, spot contracts, fixed price physical delivery
contracts, or any similar transaction or any combination of these transactions, in each case of the foregoing, whether or not exchange traded; 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 Company or any of its Subsidiaries shall be a Swap Agreement. 

“Test Period” shall mean, on any date of determination, the period of four consecutive fiscal quarters of the
Company then most recently ended (taken as one accounting period) for which financial statements have been (or were required to be) delivered. 

“Total Leverage Ratio” means, on any date of determination, the ratio of (a) Total Net Debt as of the
last day of the Test Period most recently ended as of such date to (b) EBITDA for the Test Period most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP; provided that the Total Leverage Ratio
shall be determined for the relevant Test Period on a pro forma basis. 
 “Total Net Debt” at any date
shall mean (i) the aggregate principal amount (without duplication) of all Debt (other than letters of credit or bank guarantees, to the extent undrawn) consisting of Capital Lease Obligations, Debt for borrowed money and Disqualified Stock of
the Company and the Restricted Subsidiaries determined on a consolidated basis on such date in accordance with GAAP (other than (A) Debt that has been defeased or discharged or (B) Debt issued in escrow pursuant to customary escrow
arrangements pending the release thereof) of the Company and the Restricted Subsidiaries outstanding at such date, less (ii) without duplication, the aggregate amount of all unrestricted cash and Permitted Investments of the Company and the
Restricted Subsidiaries on such date. 
 “Transfer Restricted Notes” means Notes that bear or are required
to bear the Restricted Notes Legend. 
 “Treasury Rate” means, with respect to any redemption date, the
yield to maturity at the time of computation of 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

  
 37 

 
publicly available at least two Business Days prior to such redemption 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 redemption date to March 15, 2024; provided, however, that if the period from such redemption date to March 15, 2024 is less than one year, the weekly average yield on actually traded
United States Treasury securities adjusted to a constant maturity of one year shall be used. The Company will, prior to such redemption date, provide written notice executed by an officer of the Company of the Treasury Rate, including the
calculation thereof in reasonable detail. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939,
as amended 
 “Trustee” has the meaning set forth in the preamble of this Indenture and any successor
thereto. 
 “U.S. dollar” or “$” means the lawful money of the United States of America.

 “U.S. Government Obligations” means direct non-callable
obligations of, or guaranteed by, the United States for the payment of which guarantee or obligations the full faith and credit of the United States is pledged. 

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

“Voting Stock” of any Person means Capital Stock of such Person which ordinarily has voting power for the
election of directors (or persons performing similar functions) of such Person, whether at all times or only so long as no senior class of securities has such voting power by reason of any contingency. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person all of the outstanding Capital
Stock or other ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person or by such Person and one or more Wholly Owned
Subsidiaries of such Person. 

  
 38 

 SECTION 1.2. Other Definitions. 

 

					
	 Term
	  	Defined in Section	 
	 “acceleration declaration”
	  	 	6.2	 
	 “Act”
	  	 	11.12	 
	 “Alternate Offer”
	  	 	4.13	 
	 “Authentication Order”
	  	 	2.2	 
	 “Change of Control Offer”
	  	 	4.13	 
	 “Change of Control Purchase Price”
	  	 	4.13	 
	 “Code”
	  	 	2.6	(g)(9) 
	 “Covenant Defeasance”
	  	 	8.3	 
	 “Default Direction”
	  	 	6.1	(b) 
	 “Deposit Trustee”
	  	 	8.5	 
	 “Directing Holder”
	  	 	6.1	(b) 
	 “EDGAR”
	  	 	4.3	(a) 
	 “Event of Default”
	  	 	6.1	(a) 
	 “Excess Proceeds”
	  	 	4.10	(c) 
	 “Fixed Amounts”
	  	 	1.4	 
	 “Incurrence Based Amounts”
	  	 	1.4	 
	 “Institutional Accredited Investor Note”
	  	 	2.1	(b) 
	 “LCT Election”
	  	 	1.4	 
	 “LCT Test Date”
	  	 	1.4	 
	 “Legal Defeasance”
	  	 	8.2	 
	 “Note Amount”
	  	 	4.10	(c)(1) 
	 “Noteholder Direction”
	  	 	6.1	(b) 
	 “Offer Date”
	  	 	4.10	(c) 
	 “Offer Expiration Date”
	  	 	1.1	 
	 “Offered Price”
	  	 	4.10	(c) 
	 “Pari Passu Debt Amount”
	  	 	4.10	(c)(2) 
	 “Pari Passu Offer”
	  	 	4.10	(c)(2) 
	 “Permitted Debt”
	  	 	4.9	(b) 
	 “Position Representation”
	  	 	6.1	(b) 
	 “Purchase Date”
	  	 	1.1	 
	 “QIBs”
	  	 	2.1	(b) 
	 “Ratio Debt”
	  	 	4.9	(a) 
	 “Registrar”
	  	 	2.3	 
	 “Regulation S”
	  	 	2.1	(b) 
	 “Regulation S Global Note”
	  	 	2.1	(b) 
	 “Required Filing Dates”
	  	 	4.3	(a) 
	 “Resale Restriction Termination Date”
	  	 	2.15	(a) 
	 “Restricted Payment”
	  	 	4.7	(a)(4) 
	 “Restricted Period”
	  	 	2.15	(b) 
	 “Rule 144A”
	  	 	2.1	(b) 
	 “Rule 144A Global Note”
	  	 	2.1	(b) 
	 “Successor Company”
	  	 	5.1	(a)(1) 
	 “Successor Subsidiary Guarantor”
	  	 	5.1	(b)(1)(A) 

  
 39 

					
	 Term
	  	Defined in Section	 
	 “Unrestricted Subsidiary”
	  	 	4.16	(a) 
	 “Verification Covenant”
	  	 	6.1	(b) 

 SECTION 1.3. Rules of Construction. Unless the context otherwise requires:

 (1) a term has the meaning assigned to it herein; 

(2) an accounting term not otherwise defined herein has the meaning assigned to it in accordance with GAAP;

 (3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) unless otherwise specified, any reference to Section, Article or Exhibit refers to such Section, Article or
Exhibit, as the case may be, of this Indenture; 
 (6) provisions apply to successive events and
transactions; 
 (7) the words “herein,” “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not any particular Article, Section, clause or other subdivision; and 

(8) references to sections of or rules under the Securities Act or the Exchange Act shall be deemed to include
substitute, replacement or successor sections or rules adopted by the SEC from time to time. 
 SECTION 1.4. Limited
Condition Transactions. When calculating the availability under any basket or ratio under this Indenture or compliance with any provision of this Indenture in connection with any Limited Condition Transaction and any actions or
transactions related thereto (including acquisitions, Investments, the Incurrence or issuance of Debt and the use of the proceeds thereof, the Incurrence of Liens, repayments, Restricted Payments and Asset Dispositions), in each case, at the option
of the Company (the Company’s election to exercise such option, an “LCT Election”), the date of determination for availability under any such basket or ratio and whether any such action or transaction is permitted (or any
requirement or condition therefor is complied with or satisfied (including as to the absence of any Default or Event of Default)) under this Indenture shall be deemed to be the date (the “LCT Test Date”) the definitive agreements
for such Limited Condition Transaction are entered into (or, if applicable, the date of delivery of an irrevocable notice, declaration of a dividend or similar event) and if, after giving pro forma effect to the Limited Condition Transaction and any
actions or transactions related thereto (including acquisitions, Investments, the Incurrence or issuance of Debt and the use of proceeds thereof, the Incurrence of Liens, repayments, Restricted Payments and Asset Dispositions) and any related pro
forma adjustments, the Company or any of its Restricted Subsidiaries would have been permitted to take such actions or consummate such transactions on the relevant LCT Test Date in compliance with such ratio, test or basket (and any related
requirements and conditions), such ratio, test or basket (and any related requirements and 

  
 40 

 
conditions) shall be deemed to have been complied with (or satisfied) for all purposes; provided that (a) compliance with such ratios, tests or baskets (and any related requirements
and conditions) shall not be determined or tested at any time after the applicable LCT Test Date for such Limited Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments, the Incurrence or issuance
of Debt and the use of proceeds thereof, the Incurrence of Liens, repayments, Restricted Payments and Asset Sales) and (b) EBITDA for purposes of the Guarantor Coverage Test, Fixed Charge Coverage Ratio, Total Leverage Ratio or the Secured
Leverage Ratio will be calculated using an assumed interest rate based on the indicative interest margin contained in any financing commitment documentation with respect to such Debt or, if no such indicative interest margin exists, as reasonably
determined by the Company in good faith. 
 For the avoidance of doubt, if the Company has made an LCT Election, (1) if
any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date would at any time after the LCT Test Date have been exceeded or otherwise failed to have been complied with as a result of fluctuations in any
such ratio, test or basket, including due to fluctuations in EBITDA of the Company, such baskets, tests or ratios will not be deemed to have been exceeded or failed to have been complied with as a result of such fluctuations (and no Default or Event
of Default shall be deemed to have occurred due to such failure to comply), and (2) in calculating the availability under any ratio, test or basket in connection with any action or transaction unrelated to such Limited Conditional Transaction
following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated and the date that the definitive agreement or date for redemption, purchase or repayment specified in an irrevocable
notice for such Limited Condition Transaction is terminated, expires or passes, as applicable, without consummation of such Limited Condition Transaction, any such ratio, test or basket shall be determined or tested giving pro forma effect to such
Limited Condition Transaction. 
 Notwithstanding anything to the contrary herein with respect to any amounts incurred or
transactions entered into (or consummated) in reliance on a provision of this Indenture under a restrictive covenant that does not require compliance with a financial ratio or test (including, without limitation, any Fixed Charge Coverage Ratio
test, Secured Leverage Ratio test or Total Leverage Ratio test) (any such amounts, the “Fixed Amounts”) substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of
this Indenture that requires compliance with any such financial ratio or test (any such amounts, the “Incurrence Based Amounts”), it is understood and agreed that the Fixed Amounts (and any cash proceeds thereof) shall be
disregarded in the calculation of the financial ratio or test applicable to the Incurrence Based Amounts in connection with such substantially concurrent incurrence. 

ARTICLE II 
 THE NOTES 

SECTION 2.1. Form and Dating. The Notes shall be substantially in the form of
Exhibit A. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes will be issued in registered form, without
coupons, and in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The registered Holder will be treated as the owner of such Note for all purposes. 

  
 41 

 The terms and provisions contained in the Notes shall constitute, and are
hereby expressly made, a part of this Indenture, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any
Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

(a) The Notes shall be issued initially in the form of one or more Global Notes, which shall be deposited on
behalf of the purchasers of the Notes represented thereby with the Note Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as hereinafter provided.

 Each Global Note shall represent such of the outstanding Notes as shall be specified therein, and each
shall provide that it shall represent the aggregate amount of outstanding Notes from time to time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate,
to reflect exchanges, redemptions and transfers of interests. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee or the Note
Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.6. 

(b) The Initial Notes are being issued by the Company only (i) to “qualified institutional
buyers” (as defined in Rule 144A under the Securities Act (“Rule 144A”)) (“QIBs”) and (ii) in reliance on Regulation S under the Securities Act (“Regulation S”). After such initial
issuance, Initial Notes that are Transfer Restricted Notes may be transferred to QIBs in reliance on Rule 144A, outside the United States pursuant to Regulation S, to IAIs or to the Company, in accordance with certain transfer restrictions. Initial
Notes that are offered in reliance on Rule 144A shall be issued in the form of one or more permanent Global Notes substantially in the form set forth in Exhibit A and bear the Restricted Notes Legend (collectively, the “Rule 144A
Global Note”), deposited with the Note Custodian, duly executed by the Company and authenticated by the Trustee as hereinafter provided. Initial Notes that are offered in offshore transactions in reliance on Regulation S shall be issued in
the form of one or more permanent Global Notes substantially in the form set forth in Exhibit A and bear the Regulation S Legend (collectively, the “Regulation S Global Note”), deposited with the Note Custodian, duly executed
by the Company and authenticated by the Trustee as hereinafter provided. Initial Notes resold to IAIs in the United States shall be issued in the form of one or more permanent Global Notes substantially in the form set forth in Exhibit A and
bear the Restricted Notes Legend (collectively, the “Institutional Accredited Investor Note”), deposited with the Note Custodian, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate
principal amount of each Global Note may from time to time be increased or decreased by adjustments made on the records of the Note Custodian, at the direction of the Trustee. Transfers of Notes among QIBs, to or by purchasers pursuant to Regulation
S and to or by IAIs shall be represented by appropriate increases and decreases to the respective amounts of the appropriate Global Notes, as more fully provided in Section 2.15. 

  
 42 

 (c) Section 2.1(b) shall apply only to Global Notes
deposited with or on behalf of the Depositary. 
 The Company shall execute and the Trustee shall, in
accordance with this Section 2.1 and Section 2.2, authenticate and deliver the Global Notes that (i) shall be registered in the name of the Depositary or the nominee of the Depositary and (ii) shall be delivered by the Trustee to
the Depositary or pursuant to the Depositary’s instructions or held by the Note Custodian for the Depositary. 

SECTION 2.2. Execution and Authentication. An Officer shall sign the Notes for the Company by manual,
facsimile or other electronic (i.e., “.pdf” or “.tif”) transmission signature. 
 If an Officer whose
signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be valid. 

A Note shall not be valid until authenticated by the manual signature of an authorized signatory of the Trustee. The signature
of the Trustee shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Trustee shall,
upon receipt of a written order of the Company signed by an Officer of the Company (an “Authentication Order”) directing the Trustee to authenticate the Notes and, with respect to any Additional Notes, an Officer’s Certificate
and Opinion of Counsel stating that all conditions precedent to the issuance of the Notes contained herein have been complied with, authenticate Notes for original issue in the aggregate principal amount stated in such written order. 

The Trustee may appoint an authenticating agent reasonably acceptable to the Company to authenticate Notes. Unless limited by
the terms of such appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent or agents. An authenticating agent
has the same rights as an Agent to deal with Holders or the Company. 
 SECTION 2.3. Registrar; Paying
Agent. The Company shall maintain (i) an office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”) and (ii) an office or agency where Notes may be presented for
payment to a Paying Agent. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional Paying Agents. The
term “Registrar” includes any co-registrar, and the term “Paying Agent” includes any additional Paying Agent. The Company may change any Paying Agent or Registrar without notice to any
Holder but upon written notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a successor as evidenced by an
appropriate agreement entered into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee and the passage of any waiting or notice periods required by DTC procedures or (ii) written
notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the
Company and the Trustee. The Company and/or any Restricted Subsidiary may act as Paying Agent or Registrar. 

  
 43 

 The Company shall notify the Trustee in writing, and the Trustee shall
notify the Holders, of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such, and shall be
entitled to appropriate compensation in accordance with Section 7.6. In acting hereunder and in connection with the Notes, each of the Paying Agent and the Registrar shall act solely as agents of the Company, and will not thereby assume any
obligations towards or relationship of agency or trust for or with any Holder. 
 The Company initially appoints the Trustee
to act as the Registrar and Paying Agent at the Corporate Trust Office of the Trustee. 
 The Company initially appoints DTC
to act as the Depositary with respect to the Global Notes. 
 SECTION 2.4. Paying Agent to Hold Money in
Trust. By no later than 11:00 a.m. (Eastern time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately
available funds to pay such principal, premium or interest when due; provided that to the extent such deposit is received by the Paying Agent after 11:00 a.m. (Eastern time), on any such due date, such deposit will be deemed deposited on the
next Business Day. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of
principal of, premium, if any, or interest on the Notes (whether such assets have been distributed to it by the Company or other obligors on the Notes), shall notify the Trustee in writing of any default by the Company or any Guarantor in making any
such payment and shall during the continuance of any default by the Company (or any other obligor upon the Notes) in the making of any payment in respect of the Notes, upon the written request of the Trustee, forthwith deliver to the Trustee all
sums held in trust by such Paying Agent for payment in respect of the Notes together with a full accounting thereof. If the Company or any of its Subsidiaries acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it
as a separate trust fund for the benefit of the Trustee and the Holders. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds or assets disbursed by such
Paying Agent. Upon complying with this Section 2.4, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or
similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Notes. While any such Default continues, the Trustee may require a Paying Agent to pay to the Trustee all money held by it in trust for the benefit of
the Holders or the Trustee. The Company at any time may require a Paying Agent to pay all money held by it in trust for the benefit of the Holders or the Trustee to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the
Company or any of its Subsidiaries) shall have no further liability for such money. Upon the occurrence of any of the events specified in Section 6.1(a), the Trustee shall serve as Paying Agent for the Notes. 

SECTION 2.5. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of all Holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least seven Business 

  
 44 

 
Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names
and addresses of the Holders, including the aggregate principal amount of the Notes held by each Holder thereof. 

SECTION 2.6. Book-Entry Provisions for Global Notes. 

(a) Each Global Note shall (i) be registered in the name of the Depositary for such Global Notes or the
nominee of such Depositary, (ii) be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions or held by the Note Custodian for the Depositary and (iii) bear the Global Note legends as required by
Section 2.6(e). 
 Members of, or Participants in, the Depositary shall have no rights under this
Indenture with respect to any Global Note held on their behalf by the Depositary, or the Note Custodian, or under such Global Note, and the Depositary may be treated by the Company, and the Trustee or any Agent and any of their respective agents, as
the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any Agent or their respective agents from giving effect to any written certification, proxy
or other authorization furnished by the Depositary or impair, as between the Depositary and its Participants, the operation of customary practices governing the exercise of the rights of an owner of a beneficial interest in any Global Note. 

Neither the Trustee nor any Agent shall have any responsibility or obligation to any Holder that is a member of
(or a Participant in) the Depositary or any other Person with respect to the accuracy of the records of the Depositary (or its nominee) or of any member or Participant thereof, with respect to any ownership interest in the Notes or with respect to
the delivery of any notice (including any notice of redemption) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to the Notes. All notices and communications to be given to the Holders and
all payments to be made to Holders in respect of the Notes shall be given or made only to or upon the order of the registered Holders (which shall be DTC or its nominee in the case of a Global Note). The rights of beneficial owners in any Global
Note shall be exercised only through DTC subject to the applicable rules and procedures of DTC. The Trustee and any Agent may rely (and shall be fully protected in relying) upon information furnished by the Depositary with respect to its members,
Participants and any beneficial owners in the Notes. 
 Neither the Trustee nor any Agent shall have any
responsibility for any actions taken or not taken by the Depositary. 
 (b) Transfers of a Global Note shall
be limited to transfers of such Global Note in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Note may be transferred in accordance with Section 2.15 and the
rules and procedures of the Depositary. In addition, certificated Notes shall be transferred to beneficial owners in exchange for their beneficial interests only if (i) the Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for the Global Notes and a successor depositary is not appointed by the 

  
 45 

 
Company within 90 days of such notice, (ii) the Depositary ceases to be a “clearing agency” registered under the Exchange Act and a successor depositary is not appointed by the
Company within 90 days of such notice, (iii) an Event of Default of which a Responsible Officer of the Trustee has written notice has occurred and is continuing and the Registrar has received a request from any Holder of a Global Note to issue
such certificated Notes or (iv) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of certificated Notes. 

(c) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.6(b), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and upon receipt of an Authentication Order, the Trustee shall authenticate and deliver to each beneficial owner
identified by the Depositary in exchange for its beneficial interest in such Global Note an equal aggregate principal amount of certificated Notes of authorized denominations. 

(d) The registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including
Participants and Persons that may hold interests through Participants, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

(e) Each Global Note shall bear the Global Note Legend on the face thereof. 

(f) At such time as all beneficial interests in Global Notes have been exchanged for certificated Notes,
redeemed, repurchased or cancelled, all Global Notes shall be returned to or retained and cancelled by the Trustee in accordance with Section 2.11. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged
for certificated Notes, redeemed, repurchased or cancelled, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note, by the Trustee or the Note Custodian, at the
direction of the Trustee, to reflect such reduction. 
 (g) General Provisions Relating to Transfers and
Exchanges. 
 (1) To permit registrations of transfers and exchanges, the Company shall execute and the
Trustee shall authenticate Global Notes and certificated Notes upon receipt of an Authentication Order in accordance with Section 2.2. 

(2) No service charge shall be made to a Holder for any registration of transfer or exchange, but Holders will
be required to pay all stamp or transfer taxes or similar government charge due on such transfer or exchange (other than any such stamp or transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Section 2.7,
2.10, 3.6, 4.10, 4.13 or 9.4). 
 (3) All Global Notes and certificated Notes issued upon any registration of
transfer or exchange of Global Notes or certificated Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes (or interests therein) or certificated
Notes surrendered upon such registration of transfer or exchange. 

  
 46 

 (4) The Registrar is not required (A) to issue, to
register the transfer of or to exchange Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes under Section 3.2 and ending at the close of business on the day of such selection, (B) to
register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part, or (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding interest payment date. 
 (5) Prior to due presentment for the registration of a
transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and
for all other purposes, and none of the Trustee, any Agent, or the Company shall be affected by notice to the contrary. 

(6) The Trustee shall authenticate Global Notes and certificated Notes in accordance with the provisions of
Section 2.2. Except as provided in Section 2.6(b), the Trustee shall authenticate or deliver any certificated Note in exchange for a Global Note. 

(7) Each Holder agrees to indemnify the Company, any Agent and the Trustee against any liability that may
result from the transfer, exchange or assignment of such Holder’s Note in violation of any provision of this Indenture and/or applicable United States federal or state securities law. 

(8) Neither the Trustee nor any Agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Participants or beneficial owners of interests in
any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof. 
 (9) The transferor of any Note
held in certificated form shall provide or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations
under Section 6045 of the Code. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

SECTION 2.7. Replacement Notes. If any mutilated Note is surrendered to the Trustee, the Registrar or the
Company and the Trustee receives evidence to its satisfaction of the ownership and destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the
Trustee’s requirements 

  
 47 

 
are met. If required by the Trustee or the Company, an indemnity bond, indemnity and/or security must be supplied by the Holder that is satisfactory to the Trustee and/or the Company to protect
the Company, the Trustee, any Agent and any authenticating agent (as applicable) from any loss that any of them may suffer if a Note is replaced. The Company, the Trustee and the Agents may charge for their expenses in replacing a Note. 

Every replacement Note issued pursuant to this Section 2.7 will be an additional obligation of the Company and shall be
entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

SECTION 2.8. Outstanding Notes. The Notes outstanding at any time are all the Notes authenticated by the
Trustee except for those cancelled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.8 as not
outstanding. Except as set forth in Section 2.9, a Note does not cease to be outstanding because the Company, the Subsidiary Guarantors or any of their respective Affiliates holds the Note. 

If a Note is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory
to it that the replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid
under Section 4.1, it ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than
the Company, a Subsidiary or an Affiliate of any thereof) holds, on the maturity date or date of redemption, money sufficient to pay all amounts under the Notes payable on that date, then on and after that date such Notes shall be deemed to be no
longer outstanding and shall cease to accrue interest and will not be deemed to be outstanding. 
 SECTION 2.9.
Treasury Notes. In determining whether the Holders of the required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, the Subsidiary Guarantors or by any of their
respective Affiliates shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes of which a Responsible Officer of
the Trustee has written notice as being so owned shall be so disregarded. Notwithstanding the foregoing, Notes that are to be acquired by the Company or an Affiliate of the Company pursuant to an exchange offer, tender offer or other agreement shall
not be deemed to be owned by such entity until legal title to such Notes passes to such entity. 
 SECTION 2.10.
Temporary Notes. Until certificated Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form
of certificated Notes but may have variations that the Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall upon receipt of an Authentication Order, authenticate certificated
Notes in certificate form in exchange for temporary Notes. 
 Holders of temporary Notes shall be entitled to all of the
benefits of this Indenture. 

  
 48 

 SECTION 2.11. Cancellation. The Company at any time may
deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder or which the Company may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Trustee. All Notes
surrendered for registration of transfer, exchange or payment, if surrendered to any Person other than the Trustee, shall be delivered to the Trustee. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation. Subject to Sections 2.7 and 2.16, the Company may not issue new Notes to replace Notes that it has redeemed or paid or that have been delivered to the Trustee for cancellation. All cancelled Notes held
by the Trustee shall be disposed of in accordance with its customary practice. 
 SECTION 2.12. Defaulted
Interest. If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a
subsequent special record date, which date shall be the earliest practicable date but in all events at least five Business Days prior to the payment date, in each case at the rate provided in the Notes and in Section 4.1; provided that
no special record date shall be required with respect to any defaulted interest that is paid within the applicable grace period. The Company shall fix or cause to be fixed each such special record date and payment date and shall promptly thereafter
notify the Trustee of any such date. At least 15 days before the special record date, the Company (or the Trustee, in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that states the special record
date, the related payment date and the amount of such interest to be paid. The Trustee will have no duty whatsoever to determine whether any defaulted interest is payable or the amount thereof. 

SECTION 2.13. Computation of Interest. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. Each interest period will end on (but not include) the relevant interest payment date. 

SECTION 2.14. CUSIP and ISIN Numbers. The Company in issuing the Notes may use “CUSIP” and
“ISIN” numbers, and, if it does so, the Trustee shall use the CUSIP and/or ISIN number in notices of redemption or exchange as a convenience to Holders; provided that any such notice may state that no representation is made as to
the correctness or accuracy of such numbers printed in the notice or on the Notes and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or exchange shall not be affected by any defect
in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP number and ISIN number. 

SECTION 2.15. Transfer and Exchange. 

(a) The following provisions shall apply with respect to any proposed transfer of a Rule 144A Note or an
Institutional Accredited Investor Note prior to the date which is one year after the later of the date of its original issue, the original issue date of any Additional Notes and the last date on which the Company or any Affiliate of the Company was
the owner of such securities (or any predecessor thereto) (the “Resale Restriction Termination Date”): 

  
 49 

 (1) a transfer of a Rule 144A Note or an Institutional
Accredited Investor Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee, in the form of assignment as set forth on the reverse of the Note, that it is purchasing the Note for its own account or an
account with respect to which it exercises sole investment discretion and that it and any such account is a QIB, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding
the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from
registration provided by Rule 144A; 
 (2) a transfer of a Rule 144A Note or an Institutional Accredited
Investor Note or a beneficial interest therein to an IAI shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth under Exhibit D from the proposed transferee and, if requested by the Company
or the Trustee, the receipt by the Trustee or its agent of an Opinion of Counsel, certification and/or other information satisfactory to each of them; and 

(3) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial interest
therein to a non-U.S. person shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth under Exhibit C from the proposed transferor and, if requested by
the Company or the Trustee, the delivery of an Opinion of Counsel, certification and/or other information satisfactory to each of them. 

After the Resale Restriction Termination Date, interests in a Rule 144A Note or an Institutional Accredited Investor Note may
be transferred in accordance with applicable law without requiring the certifications set forth under Exhibit C or Exhibit D or any additional certification. 

(b) The following provisions shall apply with respect to any proposed transfer of a Regulation S Note prior to
the date which is 40 days after the later of the Issue Date, the closing date of the issuance of any Additional Notes and when the Notes or any predecessor of the Notes are first offered to Persons other than distributors (as defined in Rule 902 of
Regulation S) in reliance on Regulation S (the “Restricted Period”): 
 (1) a transfer of a
Regulation S Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee, in the form of assignment as set forth on the reverse of the Note, that it is purchasing the Note for its own account or an account
with respect to which it exercises sole investment discretion and that it and any such account is a QIB, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the
Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration
provided by Rule 144A; 

  
 50 

 (2) a transfer of a Regulation S Note or a beneficial
interest therein to an IAI shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth under Exhibit D from the proposed transferee and, if requested by the Company or the Trustee, the delivery
of an Opinion of Counsel, certification and/or other information satisfactory to each of them; and 
 (3) a
transfer of a Regulation S Note or a beneficial interest therein to a non-U.S. person shall be made upon receipt by the Trustee or its agent of a certificate substantially in the form set forth under
Exhibit C from the proposed transferor and, if requested by the Company or the Trustee, receipt by the Trustee or its agent of an Opinion of Counsel, certification and/or other information satisfactory to each of them. 

After the expiration of the Restricted Period, interests in the Regulation S Note may be transferred in accordance with
applicable law without requiring the certifications set forth under Exhibit C or Exhibit D or any additional certification 

(c) In the event that a Global Note is exchanged for Notes in certificated, registered form pursuant to
Section 2.6, such Notes may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of Sections 2.15(a) and 2.15(b) (including the certification requirements intended to ensure that such
transfers comply with Rule 144A or Regulation S, as the case may be) and such other procedures as may from time to time be adopted by the Company and notified to the Trustee in writing. 

(d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing the
Restricted Notes Legend, the Registrar shall deliver Notes that do not bear the Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing the Restricted Notes Legend, the Registrar shall deliver only Notes that bear the
Restricted Notes Legend unless there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Company to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain
compliance with the provisions of the Securities Act. 
 (e) Regulation S Legend. Upon the transfer,
exchange or replacement of Notes not bearing the Regulation S Legend, the Registrar shall deliver Notes that do not bear the Regulation S Legend. Upon the transfer, exchange or replacement of Notes bearing the Regulation S Legend, the Registrar
shall deliver only Notes that bear the Regulation S Legend unless there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Company to the effect that neither such legend nor the related restrictions on transfer are
required in order to maintain compliance with the provisions of the Securities Act. 
 (f) General. By
its acceptance of any Note bearing the Restricted Notes Legend or the Regulation S Legend, as applicable, each Holder of such a Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the Restricted Notes
Legend or the Regulation S Legend, as applicable, and agrees that it shall transfer such Note only as provided in this Indenture. A transfer of a beneficial interest in a Global Note 

  
 51 

 
that does not involve an exchange of such interest for a certificated Note or a beneficial interest in another Global Note shall be subject to compliance with applicable law and the applicable
procedures of the Depositary but is not subject to any procedure required by this Indenture. 
 In connection with any
proposed transfer pursuant to Regulation S or pursuant to any other available exemption from the registration requirements of the Securities Act (other than pursuant to Rule 144A), the Company may require the delivery of an Opinion of Counsel, other
certifications or other information satisfactory to the Company. 
 The Registrar shall retain copies of all letters,
notices and other written communications received pursuant to this Section 2.15, in accordance with its procedures and the record retention requirements of the Exchange Act. 

SECTION 2.16. Issuance of Additional Notes. The Company shall be entitled to issue Additional Notes in an
unlimited aggregate principal amount under this Indenture that shall have identical terms as the Initial Notes, other than with respect to the date of issuance, issue price, first interest payment date applicable thereto and first date from which
interest will accrue, transfer restrictions, any registration rights agreement and additional interest with respect thereto; provided that such issuance is not prohibited by the terms of this Indenture, including Section 4.9, and
provided, further, that if any Additional Notes are not fungible with the existing Notes for U.S. federal income tax purposes, as determined by the Company, such Additional Notes will have a separate CUSIP and ISIN numbers. The Initial
Notes and any Additional Notes shall otherwise be treated as a single class for all purposes under this Indenture; provided that, for the avoidance of doubt, any Additional Notes that are not fungible with the existing Notes for U.S. federal
income tax purposes shall have one or more separate CUSIP and ISIN numbers. 
 With respect to any Additional Notes, the
Company shall set forth in an Officer’s Certificate, a copy of which shall be delivered to the Trustee, the following information: 

(1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; 

(2) the issue price, the issue date, the CUSIP and/or ISIN number of such Additional Notes, the first interest payment date and
the amount of interest payable on such first interest payment date applicable thereto and the date from which interest shall accrue; 

(3) whether such Additional Notes shall be Transfer Restricted Notes; and 

(4) that such issuance is not prohibited by this Indenture. 

The Trustee shall, upon receipt of the Officer’s Certificate and the documents required by 11.2 and an Authentication
Order, authenticate the Additional Notes in accordance with the provisions of Section 2.2 of this Indenture. 

  
 52 

 ARTICLE III 

REDEMPTION AND PREPAYMENT 

SECTION 3.1. Notices to Trustee. If the Company elects to redeem Notes pursuant to the optional redemption
provisions of Section 3.7, it shall furnish to the Trustee in writing, at least five Business Days (or such shorter period as is acceptable to the Trustee) before sending a notice of such redemption, an Officer’s Certificate setting forth
the (i) the paragraph of the Notes and/or section of this Indenture pursuant to which the redemption shall occur, (ii) redemption date (which, in the case of a redemption subject to conditions, may be subject to extension until such
conditions are satisfied), (iii) principal amount of Notes to be redeemed and (iv) the redemption price or the method for determining the redemption price. 

SECTION 3.2. Selection of Notes to Be Redeemed. In the event that less than all of the Notes are to be
redeemed at any time, the Trustee shall select the Notes (or portions of Notes) to be redeemed among the Holders in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the
Notes are not then listed on a national security exchange, by lot, on a pro rata basis or in such other manner as it shall deem appropriate and fair (except that any Notes represented by a Global Note will be redeemed by such method in accordance
with the applicable procedures and requirements of DTC); provided, however, that no Notes of a minimum of $2,000 in original principal amount or less shall be redeemed in part. Notwithstanding anything to the contrary stated herein, to
the extent any such Notes are held in the form of Global Notes, the Notes to be redeemed shall be selected in accordance with the applicable procedures and requirements of DTC. 

SECTION 3.3. Notice of Redemption. The Company shall mail or cause to be mailed (in each case sent by first
class mail) in accordance with Section 11.1 and, in the case of Global Notes given in accordance with DTC applicable procedures, a notice of redemption pursuant to Section 3.7 to each Holder whose Notes are to be redeemed at its registered
address (with a copy to the Trustee), at least ten days but not more than 60 days before the expected redemption date (except that notices may be delivered more than 60 days before a redemption date if the notice is issued in accordance with Article
VIII) (which, in the case of a redemption subject to conditions, may be subject to extension of not more than three months until such conditions are satisfied). 

The notice shall identify the Notes to be redeemed (including the name of the Notes, the series, “CUSIP” numbers and
corresponding “ISINs,” if applicable, interest rate, maturity date and, if known, certificate numbers) and shall state: 

(1) the redemption date (which, in the case of a redemption subject to conditions, may be subject to extension
until such conditions are satisfied); 
 (2) the redemption price (or the method by which it is to be
determined); 
 (3) if any Note is being redeemed in part, the portion of the principal amount of such Note
to be redeemed and that, after the redemption date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Note (or appropriate adjustments to the amount
and beneficial interests in a Global Note will be made, as appropriate); 

  
 53 

 (4) the name and address of the Paying Agent; 

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 (6) that, unless the Company defaults in making such redemption payment, interest, if any, on Notes called
for redemption ceases to accrue on and after the redemption date; 
 (7) the paragraph of the Notes and/or
Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; 
 (8) that
no representation is made as to the correctness or accuracy of the CUSIP number and ISIN number, if any, listed in such notice or printed on the Notes; and 

(9) any conditions precedent to such redemption. 

At the Company’s written request, the Trustee shall give the notice of redemption in the Company’s name and at the
Company’s expense; provided, however, that the Company shall have delivered to the Trustee, at least five Business Days prior to the date of the giving of the notice of redemption (or such shorter period as is acceptable to the
Trustee), an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in the notice as provided in the preceding paragraph. The notice sent in the manner herein provided shall be deemed
to have been duly given whether or not the Holder receives such notice. In any case, failure to give such notice or any defect in the notice to the Holder of any Note shall not affect the validity of the proceeding for the redemption of any other
Note. 
 SECTION 3.4. Effect of Notice of Redemption. Subject to the next paragraph, once notice of
redemption is delivered in accordance with Section 3.3, Notes called for redemption become due and payable on the redemption date at the applicable redemption price. 

Any notice of redemption may, at the Company’s discretion, be subject to the satisfaction or waiver of one or more
conditions precedent, including completion of an Equity Offering or other corporate transaction. In addition, if such redemption is subject to satisfaction or waiver of one or more conditions precedent, such notice shall state that, in the
Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied or waived, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions
shall not have been satisfied or waived by the redemption date, or by the redemption date so delayed. The Company shall provide written notice of the satisfaction or waiver of such conditions, the delay of such redemption date or the rescission of
such notice of redemption to the Trustee and the Holders no later than the Business Day prior to the redemption date, and upon receipt the Trustee shall provide such notice to each Holder in the same manner in which the notice of redemption was
given. 
 SECTION 3.5. Deposit of Redemption Price. On or before 11:00 a.m. (Eastern time) on the
redemption date, the Company shall deposit with the Trustee or with the Paying Agent (other than the Company or an Affiliate of the Company) money sufficient to pay the redemption price, together with accrued and unpaid interest, if any, to the
applicable redemption date on all 

  
 54 

 
Notes to be redeemed on that date; provided that to the extent such deposit is received by the Trustee or the Paying Agent after 11:00 a.m. (Eastern time), on any such due date, such
deposit will be deemed deposited on the next Business Day. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption price and accrued and unpaid interest, if any, to the applicable redemption date on all Notes to be redeemed. 

If the Company has deposited with the Trustee or Paying Agent money sufficient to pay the redemption price of, and unpaid and
accrued interest, if any, on, all Notes to be redeemed, on and after the redemption, interest shall cease to accrue on the Notes or the portions of Notes called for redemption (regardless of whether certificates for such securities are actually
surrendered). If a Note is redeemed on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of
business on such record date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal from the
redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case, at the rate provided in the Notes and in Section 4.1. 

SECTION 3.6. Notes Redeemed in Part. Upon surrender and cancellation of a Note that is redeemed in part,
the Company shall issue and, upon receipt of an Authentication Order, the Trustee shall authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered and canceled;
provided that each such new Note will be in a minimum principal amount of $2,000 or integral multiples of $1,000 in excess thereof. 

SECTION 3.7. Optional Redemption. 

(a) The Notes may be redeemed, in whole or in part, at any time or from time to time prior to March 15,
2024 at the option of the Company, at a redemption price equal to 100.000% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

(b) At any time or from time to time on or after March 15, 2024, the Company, at its option, may redeem
the Notes in whole or in part, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, together with accrued and unpaid interest thereon, if any, to, but excluding, the applicable
redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period beginning on
March 15 of the years indicated below: 
  

					
	 Year
	  	Redemption Price	 
	 2024
	  	 	102.125	% 
	 2025
	  	 	101.063	% 
	 2026 and thereafter
	  	 	100.000	% 

  
 55 

 (c) In the event that prior to March 15, 2024, the
Company receives net cash proceeds from one or more Equity Offerings, the Company may use an amount not greater than the amount of such net cash proceeds to redeem up to 40.0% of the original aggregate principal amount of all Notes issued
(calculated after giving effect to any issuance of Additional Notes) at a redemption price of 104.250% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date (subject to the
rights of Holders of Notes on the relevant regular record date to receive interest due on the relevant interest payment date that is on or prior to the applicable redemption date); provided that: 

(1) at least 50.0% of the aggregate principal amount of Notes issued on the Issue Date remains outstanding
immediately after giving effect to each such redemption; and 
 (2) the redemption occurs not more than 90
days after the date of the closing of any such Equity Offering. 
 (d) If Holders of not less than 90.0% in
aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in connection with any tender offer or other offer to purchase the Notes (including pursuant to a Change of Control Offer, Alternate Offer or an offer
to purchase with the proceeds from any Asset Disposition) and the Company, or any other Person making such offer in lieu of the Company, purchases all of the Notes validly tendered and not validly withdrawn by such Holders, the Company will have the
right, upon not less than ten nor more than 60 days’ prior notice, to redeem all Notes that remain outstanding following such purchase (and the Holders of such remaining Notes shall be deemed to have consented to surrender their Notes) at a
redemption price in cash equal to the applicable price paid to Holders in such purchase, plus accrued and unpaid interest, if any, to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on an interest payment date that is on or prior to the date of redemption). 
 (e) Nothing in
this Indenture shall limit the ability of the Company or its Affiliates to purchase or acquire Notes in open-market purchases, tender or exchange offers or other negotiated transactions or otherwise. 

ARTICLE IV 
 COVENANTS 

SECTION 4.1. Payment of Notes. 

(a) The Company shall pay or cause to be paid the principal of, premium, if any, and interest on the Notes on
the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid for all purposes hereunder on the date the Trustee or the Paying Agent (if other than the Company or a Subsidiary thereof) holds, as
of 11:00 a.m. (Eastern time) on the relevant payment date, U.S. dollars deposited by the Company in immediately available funds and designated for and sufficient 

  
 56 

 
to pay all such principal, premium, if any, and interest then due; provided that to the extent such deposit is received by the Trustee or the Paying Agent after 11:00 a.m. (Eastern time),
on any such due date, such deposit will be deemed deposited on the next Business Day. 
 (b) The Company
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then-applicable interest rate on the Notes to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), at the same rate to the extent lawful. 

SECTION 4.2. Maintenance of Office or Agency. The Company shall maintain an office or agency in the United
States where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company and the Subsidiary Guarantors in respect of the Notes and this Indenture may be served. The Company shall give
prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee; provided that, no office of the Trustee shall be an office or agency of the Company for the purposes of
service of legal process on the Company or any Subsidiary Guarantor. 
 The Company may also from time to time designate one
or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve
the Company of its obligation to maintain an office or agency in the United States for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such
other office or agency. 
 The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.3. 
 SECTION 4.3. Provision of Financial
Information.  
 (a) Whether or not the Company is subject to Section 13(a) or
15(d) of the Exchange Act, or any successor provision thereto, the Company shall provide to the Trustee and Holders copies of the annual reports, quarterly reports and other reports which the Company would have been required to file with the SEC
pursuant to such Section 13(a) or 15(d), or any successor provision thereto if the Company were so required, such documents to be provided to the Trustee and Holders on or prior to the respective dates (the “Required Filing
Dates”) by which the Company would have been required to file such documents with the SEC if the Company were so required; provided that any such reports and documents filed with the SEC pursuant to its Electronic Data Gathering,
Analysis and Retrieval system (“EDGAR”) (or any successor system) or made publicly available on the Company’s website shall be deemed to have been delivered to the Trustee and the Holders of Notes at the time such report is so
filed or furnished for purposes of the foregoing requirements. 

  
 57 

 (b) So long as any of the Notes remain outstanding, if at
any time the Company is not subject to Section 13(a) or 15(d) under the Exchange Act, the Company will make available to any prospective purchaser of Notes or beneficial owner of Notes, upon their request, the information required by Rule
144A(d)(4) under the Securities Act, until such time as the Holders of the Notes, other than Holders that are Affiliates of the Company, are able to sell all such Notes immediately without restriction pursuant to the provisions of Rule 144 under the
Securities Act, or any successor provision thereto. 
 (c) In the event that any direct or indirect parent
company of the Company becomes a guarantor of the Notes, the Company may satisfy its obligations under this Section 4.3 with respect to financial information relating to the Company by furnishing financial information relating to such parent
company; provided that, to the extent that, in the reasonable judgment of the Company there are material differences between the financial information of the Company, on the one hand, and such parent company, on the other hand, the same shall
be accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such parent company, on the one hand, and the information relating to the Company and its Subsidiaries on a
stand-alone basis, on the other hand. The Company will be deemed to have furnished the reports referred to in this Section 4.3 if the Company or any parent company has filed the corresponding reports containing such information relating to the
Company or such parent company with the SEC via the EDGAR filing system (or any successor system). 
 (d) Any
and all Defaults or Events of Default arising from a failure to furnish in a timely manner any information required by this Section 4.3 shall be deemed cured (and the Company shall be deemed to be in compliance with this Section 4.3) upon
furnishing such information as contemplated by this Section 4.3 (but without regard to the date on which such financial statement or report is so furnished). 

(e) Delivery of reports and documents to the Trustee is for informational purposes only and the Trustee’s
receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable from information contained therein, including the Company’s or any Subsidiary Guarantor’s, as the case may
be, compliance with any of its covenants under this Indenture (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates of the Company). The Trustee shall have no obligation or responsibility to determine whether the
Company is required to file any reports or other information with the SEC, whether the Company’s information is available on EDGAR (or any successor system) or the Company’s website or whether the Company has otherwise delivered any notice
or report in accordance with the requirements specified in this Section 4.3. Notwithstanding anything to the contrary herein, the Trustee will have no duty to search for or obtain any electronic or other filings of that the Company makes with
the SEC, regardless of whether such filings are periodic, supplemental or otherwise. 
 SECTION 4.4. Compliance
Certificate. The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year beginning with the fiscal year ending December 31, 2021, an Officer’s Certificate stating that, as to each such Officer
signing such certificate, to his or her knowledge, the Company is not in default in the performance or observance of any of 

  
 58 

 
the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have
knowledge and what action the Company is taking or proposes to take with respect thereto). 
 The Company shall, so long as
any of the Notes are outstanding, deliver to the Trustee, within 30 days after any Officer becomes aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Company is
taking or proposes to take with respect thereto. 
 SECTION 4.5. Taxes. The Company shall pay, and shall
cause each of its Subsidiaries to pay, prior to delinquency all material taxes, assessments and governmental levies, except such as are contested in good faith and by appropriate proceedings and with respect to which appropriate reserves have been
taken in accordance with GAAP or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

SECTION 4.6. Stay, Extension and Usury Laws. The Company and each of the Subsidiary Guarantors covenants
(to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in
force, that may affect the covenants or the performance of this Indenture, and the Company and each of the Subsidiary Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and
covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law has been enacted. 

SECTION 4.7. Limitation on Restricted Payments. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to: 

(1) directly or indirectly, declare or pay any dividend on, or make any distribution (including any payment in
connection with any merger or consolidation derived from assets of the Company or any Restricted Subsidiary) in respect of its Capital Stock or to the holders thereof in their capacity as holders of Capital Stock, other than: 

(i) any dividends or distributions by the Company payable solely in shares of its Capital Stock (other than
Redeemable Stock) or in options, warrants or other rights to acquire its Capital Stock (other than Redeemable Stock); and 

(ii) in the case of a Restricted Subsidiary, dividends or distributions payable to the Company or a Restricted
Subsidiary or, in the case of dividends or distributions made by a Restricted Subsidiary that is not wholly owned, dividends or distributions are made on a pro rata basis (or on a basis more favorable to the Company); 

  
 59 

 (2) purchase, redeem or otherwise acquire or retire for
value any Capital Stock of the Company, other than in exchange for Capital Stock (other than Redeemable Stock) of the Company thereof; 

(3) make any Investment in any Person, other than a Permitted Investment; and 

(4) redeem, repurchase, defease, prepay or otherwise acquire or retire for value, prior to any scheduled
maturity, repayment or sinking fund payment, any Subordinated Debt (other than Debt owed by the Company or any Restricted Subsidiary to another Restricted Subsidiary or the Company, or any such payment on Debt due within one year of the date of
redemption, repurchase, defeasance, prepayment, decrease or other acquisition or retirement) 
 (each of clauses
(1) through (4) above being a “Restricted Payment”) unless: 
 (i) no Event of Default,
or event that with the passing of time or the giving of notice, or both, would constitute an Event of Default, has occurred and is continuing or would result from such Restricted Payment; 

(ii) after giving pro forma effect to such Restricted Payment as if such Restricted Payment had been made at
the beginning of the applicable four-fiscal-quarter period, the Company could Incur at least $1.00 of additional Debt pursuant to Section 4.9(a); and 

(iii) upon giving effect to such Restricted Payment, the aggregate of all Restricted Payments declared or made
subsequent to the Issue Date (other than pursuant to clauses (2) and (4) through (12) of Section 4.7(b)) does not exceed the sum of: 

(1) an amount (which may not be less than zero) equal to 50% of cumulative Consolidated Net Income (or, in the
case Consolidated Net Income shall be negative, less 100% of such deficit) of the Company since January 1, 2021 through the last day of the last full fiscal quarter ending immediately preceding the date of such Restricted Payment for which
quarterly or annual financial statements are publicly available (taken as a single accounting period); plus 

(2) (i) 100% of the aggregate net cash proceeds, and the Fair Market Value of property other than cash, in
each case received by the Company or a Restricted Subsidiary after the Issue Date from contributions of capital or the issuance and sale (other than to a Subsidiary of the Company and Excluded Contributions) of Capital Stock (other than Redeemable
Stock) of the Company or any options, warrants or other rights to acquire Capital Stock (other than Redeemable Stock) of the Company, or any net payment received by the Company in connection with the termination or settlement of options relating to
its Capital Stock; provided that any such net proceeds received by the Company from an employee 

  
 60 

 
stock ownership plan financed by loans from the Company or its Subsidiaries shall be included only to the extent such loans have been repaid with cash on or prior to the date of determination,
(ii) 100% of the aggregate net cash proceeds received by the Company after the Issue Date from the issuance and sale of convertible or exchangeable secured Debt of the Company that has been converted into or exchanged for Capital Stock (other than
Redeemable Stock and other than by or from a Subsidiary of the Company and Excluded Contributions) of the Company; provided that any such net proceeds received by the Company from an employee stock ownership plan financed by loans from the
Company or its Subsidiaries shall be included only to the extent such loans have been repaid with cash on or prior to the date of determination, and (iii) without duplication, any reduction of Debt on the balance sheet of the Company to the
extent such Debt is converted into or exchanged for Capital Stock of the Company (other than Redeemable Stock) after the Issue Date; plus 

(3) in the case of a disposition, liquidation or repayment (including by way of dividends) of Investments by
the Company and its Restricted Subsidiaries, subsequent to the Issue Date, in any Person subject to clause (3) above, an amount (to the extent not included in Consolidated Net Income) equal to the lesser of the return on capital with respect to
such Investment and the initial amount of such Investment, in either case, less the cost of the disposition of such Investment and net of taxes; plus 

(4) in the case of a designation of an Unrestricted Subsidiary as a Restricted Subsidiary, the Fair Market
Value of the Company’s interest in such Subsidiary; plus 
 (5) $450.0 million. 

(b) Notwithstanding the foregoing, Section 4.7(a) will not prohibit: 

(1) payments made to the Company or to any Wholly Owned Subsidiary of the Company (or, in the case of a
Restricted Subsidiary other than a Wholly Owned Subsidiary), Restricted Payments made to the direct or indirect parent of such Restricted Subsidiary and each other owner of Capital Stock on a pro rata basis; 

(2) payments made (x) in respect of (i) overhead, legal, accounting and other professional fees and
expenses of any Parent Entity, (ii) fees and expenses related to any public offering or private placement of debt or equity securities of any Parent Entity whether or not consummated, (iii) franchise and similar taxes and other fees and
expenses, required to maintain any Parent Entity’s existence, (iv) payments paid in accordance with Section 4.11 (other than clauses (2), (12) and (20) thereof), (v) customary salary, bonus and other benefits payable to, and
indemnities provided on behalf of, officers, directors and employees of any Parent Entity, in each case in order to permit any Parent Entity to make such payments, 

  
 61 

 
and (vi) interest and/or principal on Debt of any Parent Entity, the proceeds of which have been contributed to the Company or any Restricted Subsidiary and that has been guaranteed by, or
is otherwise considered Debt of, the Company or any Restricted Subsidiary in accordance with Section 4.9; provided that in the case of clauses (i), (ii) and (iii), the amount of such payments shall not exceed the portion of any amounts
referred to in such clauses (i), (ii) and (iii) that are allocable to the Company or its Restricted Subsidiaries and (y) in respect of any taxable period for which the Company and/or any of its Subsidiaries are members of a consolidated,
combined, affiliated, unitary or similar tax group for U.S. federal and/or applicable state, local or foreign tax purposes of which any Parent Entity is the common parent, or for which the Company is a disregarded entity for U.S. federal and/or
applicable state or local income tax purposes, distributions to any Parent Entity in an amount not to exceed the amount of any such U.S. federal, state, local or foreign taxes that the Company and/or its Subsidiaries, as applicable, would have paid
for such taxable period had the Company and/or its Subsidiaries, as applicable, been a stand-alone corporate taxpayer or a standalone corporate group (“Tax Distributions”); 

(3) payment of any dividend on Capital Stock of any class within 60 days after the declaration thereof, or
redemption of any Subordinated Debt within 30 days after giving notice of redemption thereof, if, on the date when the dividend was declared or such notice of redemption given, the Company or such Restricted Subsidiary could have paid such dividend
or redeemed such Subordinated Debt in accordance with this Section 4.7; 
 (4) repayment or refinancing
of any Subordinated Debt with Permitted Refinancing Debt, or any Restricted Payment made in exchange for, by conversion into or out of the net proceeds of the substantially concurrent sale (other than from or to a Subsidiary of the Company or from
or to an employee stock ownership plan financed by loans from the Company or its Subsidiaries) of shares of Capital Stock (other than Redeemable Stock) of the Company; 

(5) payments made in connection with the consummation of the Refinancing Transactions; 

(6) the acquisition of shares of Capital Stock in connection with (x) the exercise of employee or director
stock options or stock appreciation rights by way of cashless exercise and the withholding of a portion of such Capital Stock to pay taxes associated therewith, and (y) the purchase of fractional shares of Capital Stock of the Company or any
Restricted Subsidiary arising out of stock dividends, splits or combinations or business combinations, or in connection with the exercise of warrants, options or other securities convertible or exchangeable for Capital Stock of the Company or any
Restricted Subsidiary; 
 (7) the acquisition of shares of the Company’s Capital Stock pursuant to
equity repurchases from future, present or former directors, officers or employees in an amount of up to (x) $25.0 million per any calendar year plus (y) the amount 

  
 62 

 
of net proceeds contributed to the Company that were received by any Parent Entity during such calendar year from sales of Capital Stock of any Parent Entity to directors, consultants, officers
or employees of any Parent Entity, the Company or any Restricted Subsidiary in connection with permitted employee compensation and incentive arrangements plus (z) amount of net proceeds of any key-man
life insurance policy (and any portion of such amount not used in any calendar year may be carried forward to the next succeeding calendar year, provided that any such amounts carried forward plus the amount for any calendar year may not
exceed $50.0 million in such calendar year), provided that the cancellation of Debt incurred from any members of management of a Parent Entity owing to the Company or any Restricted Subsidiary in connection with a repurchase of Capital
Stock of any Parent Entity will not constitute a Restricted Payment; 
 (8) dividends on Redeemable Stock of
the Company or a Restricted Subsidiary, or dividends on Preferred Stock of a Restricted Subsidiary, in each case incurred in compliance with Section 4.9; 

(9) the payment of cash in lieu of the issuance of Capital Stock in connection with the conversion, retirement,
repurchase or redemption of any series of convertible debt securities of the Company or its Restricted Subsidiaries; 

(10) the payment of the deferred purchase price or earn-outs, including holdbacks (and the receipt of any
corresponding consideration therefor), or payments with respect to fractional shares, in each case in connection with an acquisition to the extent such payment would have been permitted by this Indenture at the time of such acquisition; 

(11) payments made (including to any Parent Entity so that any Parent Entity may make Restricted Payments to
its equity holders) in an amount equal to 6% per annum of the net proceeds received by the Company from any public offering of Capital Stock of the Company or any Parent Entity, including the proceeds of the Company’s previously completed
initial public offering, other than public offerings with respect to the Company’s Capital Stock registered on Form S-4 or S-8 or successor form thereto and other
than any public sale constituting an Excluded Contribution; 
 (12) any payment that is intended to prevent
any Debt from being treated as an “applicable high yield discount obligation” within the meaning of Section 163(i)(1) of the Code; 

(13) Restricted Payments that are made with Excluded Contributions; 

(14) Restricted Payments in an aggregate amount such that, after giving pro forma effect thereto, the Total
Leverage Ratio of the Company would not exceed 3.50 to 1.00; 
 (15) payments made under any Operations
Services Agreement; 

  
 63 

 (16) payments made to a Parent Entity to facilitate the
making of a Restricted Payment, Investment, disposition or other transfer between the Company and its Restricted Subsidiaries, so long as such transaction is otherwise permitted by this Indenture and the proceeds are subsequently downstreamed to the
Company and its Restricted Subsidiaries; and 
 (17) Restricted Payments in an aggregate amount not to exceed
the greater of (i) $100.0 million and (ii) 11.5% of EBITDA for the most recently ended Reference Period; 

provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under
clauses (7), (8), (11) and (14), no Default shall have occurred and be continuing or would otherwise occur as a consequence thereof. 

(c) For purposes of determining compliance with this Section 4.7, if a Restricted Payment meets the
criteria of more than one of the types of Restricted Payments described in clauses (1) through (17) of Section 4.7(b) or pursuant to Section 4.7(a), the Company, in its sole discretion, may order and classify, and subsequently reorder
and reclassify, such Restricted Payment in any manner in compliance with this Section 4.7. 
 SECTION 4.8.
Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly,
create or permit to exist or become effective any encumbrance or restriction on the ability of any Restricted Subsidiary: 

(1) to pay dividends (in cash or otherwise) or make any other distributions in respect of its Capital Stock
owned by the Company or any other Restricted Subsidiary or pay any Debt or other obligation owed to the Company or any other Restricted Subsidiary (it being understood that the priority of any Preferred Stock in receiving dividends, distributions or
liquidating distributions prior to dividends, distributions or liquidating distributions being paid on Capital Stock shall not be deemed a restriction on the ability to make distributions on Capital Stock); 

(2) to make loans or advances to the Company or any other Restricted Subsidiary; or 

(3) otherwise to transfer any of its property or assets to the Company or any other Restricted Subsidiary. 

(b) Notwithstanding the restrictions in Section 4.8(a), the Company may, and may permit any Restricted
Subsidiary to, suffer to exist any such encumbrance or restriction: 
 (1) pursuant to any agreement in
effect on the Issue Date (including the Credit Facilities); 

  
 64 

 (2) pursuant to this Indenture, the Notes and the Subsidiary
Guarantees; 
 (3) pursuant to an agreement relating to any Debt Incurred by or Capital Stock of a Person
(other than a Restricted Subsidiary existing on the Issue Date or any Restricted Subsidiary carrying on any of the businesses of any such Restricted Subsidiary) prior to the date on which such Person became a Restricted Subsidiary and outstanding on
such date and not Incurred in connection with, or anticipation of, becoming a Restricted Subsidiary; provided that the Incurrence of such Debt was permitted under Section 4.9; 

(4) pursuant to an agreement effecting a renewal, refunding, replacement, refinancing or extension of Debt
Incurred pursuant to an agreement referred to in clause (1) or (3) of this Section 4.8(b); provided, however, that the provisions contained in such renewal, refunding, replacement, refinancing or extension agreement relating
to such encumbrance or restriction are not materially more restrictive, taken as a whole, than the provisions contained in the agreement being renewed, refunded, replaced, refinanced or extended; 

(5) in the case of a restriction described in clause (3) of Section 4.8(a), contained in any security
agreement securing Debt of a Restricted Subsidiary otherwise permitted under this Indenture, but only to the extent such restrictions restrict the transfer of the assets or property subject to such security agreement; provided that any such
encumbrance or restriction is released to the extent the underlying Lien is released or the related Debt repaid; 

(6) customary restrictions in leases (including capital leases), subleases, licenses, sublicenses, security
agreements or mortgages or other purchase money obligations for property acquired in the ordinary course of business that impose restrictions on the property purchased or leased of the nature described in clause (3) of Section 4.8(a); 

(7) Liens permitted to be incurred pursuant to Section 4.12 that limit the right of the debtor to dispose
of the assets subject to such Liens; 
 (8) with respect to a Restricted Subsidiary, imposed pursuant to an
agreement which has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Restricted Subsidiary, provided that such restriction terminates if such transaction is closed or abandoned;

 (9) in bona fide contracts for the sale of any property or assets; 

(10) any encumbrance or restriction contained in the terms of any Debt or Capital Stock otherwise permitted to
be Incurred under this Indenture if the Company determines that any such encumbrance or restriction either (i) will not materially affect the Company’s ability to make principal or interest payments on the Notes and such restrictions are
not materially less favorable to Holders of Notes than is customary in comparable financings or (ii) are not materially more restrictive, taken as a whole, with respect to any Restricted Subsidiary than those

  
 65 

 
in effect on the Issue Date with respect to that Restricted Subsidiary pursuant to agreements in effect on the Issue Date or those contained in this Indenture or the Credit Facilities, in each
case as determined in good faith by the Board of Directors or an Officer of the Company; 
 (11) restrictions
applicable to Foreign Subsidiaries in agreements or instruments governing Debt of Foreign Subsidiaries; 

(12) if such encumbrance or restriction is the result of applicable laws or regulations; 

(13) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary
course of business; 
 (14) restrictions on cash or other deposits imposed by customers under contracts
entered into in the ordinary course of business; or 
 (15) customary provisions restricting assignment of
any agreement entered into in the ordinary course of business. 
 SECTION 4.9. Limitation on Debt. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur any Debt except that the
Company and any Restricted Subsidiary may Incur Debt if after giving pro forma effect to the Incurrence of such Debt and the receipt and application of the proceeds thereof as if the same had occurred at the beginning of the most recently ended
fiscal quarter of the Company the Fixed Charge Coverage Ratio of the Company would be no less than 2.00 to 1.00 (“Ratio Debt”); provided that the aggregate principal amount of Debt incurred by Restricted Subsidiaries that are
not Subsidiary Guarantors pursuant to this Section 4.9(a), together with the outstanding principal amount of Debt incurred by Restricted Subsidiaries that are not Subsidiary Guarantors pursuant to clauses (21) and (22) of
Section 4.9(b), shall not exceed $200.0 million. 
 (b) Notwithstanding the restrictions in
Section 4.9(a), the following Debt may be Incurred (collectively, the “Permitted Debt”): 

(1) Debt of the Company or any Restricted Subsidiary under one or more Debt Facilities in an aggregate
principal amount Incurred under this clause (1) at any one time outstanding not to exceed (x) $3,200.0 million plus (y) any additional amount such that, after giving pro forma effect thereto, the Secured Leverage Ratio (treating all
Debt Incurred under this clause (1) as secured by Liens on the assets of the Company, including all undrawn amounts under the Company’s revolving portion of any Debt Facility) of the Company and its Restricted Subsidiaries would not exceed
5.00 to 1.00, plus, in the case of any refinancing of any Debt permitted under this clause (1) or any portion thereof, any increase in the amount of such Debt in connection with any refinancing expenses, accrued and unpaid interest, premiums
and other costs and expenses incurred in connection therewith; 

  
 66 

 (2) Debt of the Company or any Restricted Subsidiary in an
aggregate outstanding principal amount not greater than 100% of the amount of net cash proceeds received by the Company from Excluded Contributions; 

(3) Debt supported by a letter of credit in a principal amount not in excess of the state amount of such letter
of credit; 
 (4) Debt of the Company or any Restricted Subsidiary outstanding on the Issue Date; 

(5) Debt owed by the Company to any Restricted Subsidiary or Debt owed by a Restricted Subsidiary to the
Company or a Restricted Subsidiary; provided, however, that: 
 (A) any such Debt owing by the
Company or a Subsidiary Guarantor to a Restricted Subsidiary that is not a Subsidiary Guarantor shall be expressly subordinated to the prior payment in full in cash of all obligations with respect to the Notes, and 

(B) upon either the transfer or other disposition by such Restricted Subsidiary or the Company of any Debt so
permitted to a Person other than the Company or another Restricted Subsidiary or the issuance (other than directors’ qualifying shares), sale, lease, transfer or other disposition of shares of Capital Stock (including by consolidation or
merger) of such Restricted Subsidiary to a Person other than the Company or another Restricted Subsidiary such that it ceases to be a Restricted Subsidiary, the provisions of this clause (5) shall no longer be applicable to such Debt and such
Debt shall be deemed to have been Incurred at the time of such transfer or other disposition; 
 (6) Debt
consisting of the Notes (other than any Additional Notes); 
 (7) the Subsidiary Guarantees and Guarantees by
the Company or any Restricted Subsidiary of any Debt of the Company or a Restricted Subsidiary permitted to be Incurred under this Indenture; 

(8) Debt of the Company or any of its Restricted Subsidiaries represented by Capital Lease Obligations or
purchase money obligations Incurred for the purpose of financing all or any part of the purchase price or cost of construction or improvement of property, plant or equipment used in the business of the Company or such Restricted Subsidiary, in an
aggregate principal amount, including all Debt Incurred to refund or refinance any Debt Incurred pursuant to this clause (8), not to exceed, at any one time outstanding, the greater of (i) $150.0 million and (ii) 17.5% of EBITDA determined for
the most recently ended Reference Period at the time of Incurrence (it being understood that any Debt Incurred pursuant to this clause (8) shall cease to be deemed Incurred or outstanding for purposes of this clause (8) but shall be deemed
Incurred as Ratio Debt from and 

  
 67 

 
after the first date on which the Company or such Restricted Subsidiary could have Incurred such Debt as Ratio Debt without reliance on this clause (8)); 

(9) Debt of the Company or any Restricted Subsidiary consisting of (i) Swap Agreements not entered into
for speculative purposes and (ii) Cash Management Agreements entered into in the ordinary course of business; 

(10) Debt Incurred in connection with Permitted Receivables Financings in an aggregate principal amount
outstanding that, immediately after giving effect to the incurrence of such Debt and the use of proceeds thereof, would not exceed the greater of (i) $25.0 million and (ii) 3.0% of EBITDA determined for the most recently ended Reference Period
at the time of Incurrence; 
 (11) Permitted Refinancing Debt which is exchanged for or the proceeds of which
are used to refinance or refund, or any extension or renewal of Debt Incurred pursuant to Section 4.9(a) and clauses (4), (6), (7), (8), (17) and (18), and this clause (11), of this Section 4.9(b); 

(12) Obligations arising from agreements by the Company or a Restricted Subsidiary to provide for
indemnification, purchase price closing adjustments, deferred purchase price, deferred compensation, earn-outs or other similar obligations, in each case, Incurred in connection with any Investment or the acquisition or disposition of any business,
assets or Subsidiaries; 
 (13) Debt Incurred by the Company or any of its Subsidiaries under performance,
bid, surety, release, appeal and similar bonds and statutory obligations, Debt in respect of workers’ compensation, health, disability or other employee benefits or property, casualty or liability insurance, self-insurance obligations, and
completion Guarantees (not for borrowed money) provided in the ordinary course of business, pursuant to reimbursement or indemnification obligations, in each case incurred in the ordinary course of business, and reimbursement obligations in respect
of any of the foregoing; 
 (14) Debt Incurred in the ordinary course of business in connection with the
financing of insurance premiums or take-or-pay obligations contained in supply arrangements; 

(15) Debt of the Company or any of its Restricted Subsidiaries arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds in the ordinary course of business; 

(16) Debt incurred and applied to repay the Notes; 

(17) Debt in respect of promissory notes issued to current or former officers, directors and employees (or
their respective family members, estates or trusts or other entities for the benefit of any of the foregoing) of the Company or its 

  
 68 

 
Subsidiaries or any Parent Entity to purchase or redeem Capital Stock or options of the Company in a manner permitted by Section 4.7; 

(18) Debt Incurred pursuant to sale/leaseback transactions that does not exceed the greater of (i)
$25.0 million and (ii) 3.0% of EBITDA determined for the most recently ended Reference Period at the time of Incurrence; 

(19) Debt of a joint venture to the Company or a Restricted Subsidiary and to the other holders of Capital
Stock of, or participants in, such joint venture, so long as the percentage of the aggregate amount of such Debt of such joint venture owed to such holders of its Capital Stock or participants of such joint venture does not exceed the percentage of
the aggregate outstanding amount of the Capital Stock of such joint venture held by such holders or such participant’s participation in such joint venture and which, together with any other Debt Incurred pursuant to this clause (19), and
including any renewals, extensions, substitutions, refinancings or replacements of such Debt, has an aggregate principal amount not to exceed, at any one time outstanding, the greater of (i) $100.0 million and (ii) 11.5% of EBITDA determined
for the most recently ended Reference Period at the time of Incurrence; 
 (20) Debt in respect of letters of
credit, bank Guarantees or similar instruments issued to support performance obligations and trade letters of credit (other than obligations in respect of other Debt) in the ordinary course of business and consistent with past practice or industry
practices; 
 (21) (i) other Debt of the Company or any Restricted Subsidiary so long as (A) no Event of
Default shall have occurred and be continuing or would result therefrom and (B) the Secured Leverage Ratio on a pro forma basis is not greater than 5.00 to 1.00; and (ii) Debt of a Restricted Subsidiary acquired after the Issue Date or an
entity merged into or consolidated or amalgamated with the Company or any Restricted Subsidiary after the Issue Date and Debt otherwise assumed or Incurred by the Company or any Restricted Subsidiary in connection with the acquisition of assets or
equity interests (in each case, including a Permitted Business Acquisition), where such acquisition, merger, consolidation or amalgamation, as applicable, is not prohibited by this Indenture, so long as (A) the Company would be able to Incur at
least $1.00 of additional Debt incurred under Section 4.9(a) or (B) the Secured Leverage Ratio of the Company would not be greater than the Secured Leverage Ratio of the Company immediately prior to such acquisition, merger, consolidation
or amalgamation, in each case treating all Debt Incurred pursuant to this clause (21) as secured by Liens on the assets of the Company; provided, however, that the aggregate outstanding principal amount of Debt incurred under this
clause (21) by Restricted Subsidiaries that are not Subsidiary Guarantors, together with the aggregate outstanding principal amount of Debt incurred by Restricted Subsidiaries that are not Subsidiary Guarantors pursuant to Section 4.9(a)
or clause (22) of this Section 4.9(b), shall not exceed $200.0 million; 

  
 69 

 (22) Debt of Restricted Subsidiaries that are not Subsidiary
Guarantors in an aggregate outstanding principal amount, together with the aggregate outstanding principal amount of Debt incurred by Restricted Subsidiaries that are not Subsidiary Guarantors pursuant to Section 4.9(a) or clause (21) of
this Section 4.8(b), not to exceed $200.0 million; 
 (23) Debt that has been defeased or
discharged or Debt issued in escrow pursuant to customary escrow arrangements pending the release thereof; 

(24) to the extent constituting Debt, agreements to pay service fees to professionals (including architects,
coders, software engineers and designers) in furtherance of and/or in connection with any project, in each case to the extent such agreements and related payment provisions are reasonably consistent with commonly accepted industry practices
(provided that no such agreements shall give rise to Debt for borrowed money); 
 (25) Debt incurred in the
ordinary course of business in respect of obligations of the Company or any Restricted Subsidiary to pay the deferred purchase price of goods or services or progress payments in connection with such goods and services; provided that such
obligations are incurred in connection with open accounts extended by suppliers on customary trade terms in the ordinary course of business and not in connection with the borrowing of money or any Swap Agreements; 

(26) Debt representing deferred compensation to employees, consultants or independent contractors of the
Company (or to the extent such work is done for the Company or its Subsidiaries, any direct or indirect parent thereof) or any Subsidiary incurred in the ordinary course of business; 

(27) in addition to the items referred to in clauses (1) through (26) above, Debt of the Company or any
Restricted Subsidiary which, together with any other outstanding Debt Incurred pursuant to this clause (27), and including any renewals, extensions, substitutions, refinancings or replacements of such Debt, has an aggregate principal amount not to
exceed, at any one time outstanding, the greater of (i) $400.0 million and (ii) 46.5% of EBITDA for the most recently ended Reference Period determined at the time of Incurrence; and 

(28) all premium (if any, including tender premiums), expenses, defeasance costs, interest (including
post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in clauses (1) through (27) above. 

(c) For purposes of determining compliance with, and the outstanding principal amount of any particular Debt
Incurred pursuant to, and in compliance with, this Section 4.9: 
 (1) in the event that Debt meets the
criteria of more than one of the types of Debt described in Sections 4.9(a) and 4.9(b), the Company, in its sole discretion, 

  
 70 

 
may classify such item of Debt on the date of Incurrence (or later classify or reclassify such Debt, in its sole discretion) in any manner permitted by this Section 4.9 and shall only be
required to include the amount and type of such Debt in one of such clauses; provided that all Debt outstanding on the Issue Date under the Credit Facilities shall be deemed Incurred under subclause (x) of Section 4.9(b)(1) and may
not later be reclassified; 
 (2) Guarantees of, or obligations in respect of letters of credit relating to,
Debt which is otherwise included in the determination of a particular amount of Debt shall not be included; 

(3) the principal amount of any Redeemable Stock or Preferred Stock of the Company or a Restricted Subsidiary
will be equal to the greater of the maximum redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 

(4) Debt permitted by this Section 4.9 need not be permitted solely by reference to one provision
permitting such Debt but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.9 permitting such Debt; 

(5) any Receivables Sale shall be the amount for which there is recourse to the seller; and 

(6) the amount of Debt issued at a price that is less than the principal amount thereof will be equal to the
amount of the liability in respect thereof determined in accordance with GAAP. 
 (d) Accrual of interest,
accrual of dividends, the accretion of accreted value, the payment of interest in the form of additional Debt and the payment of dividends in the form of additional shares of Preferred Stock or Redeemable Stock will not be deemed to be an Incurrence
of Debt for purposes of this Section 4.9. 
 (e) For purposes of determining compliance with any U.S.
dollar-denominated restriction on the Incurrence of Debt, the U.S. dollar-equivalent principal amount of Debt denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Debt was
Incurred, in the case of term Debt, or first committed, in the case of revolving credit Debt; provided that if such Debt is Incurred to refinance other Debt denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar-dominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-dominated restriction shall be deemed not to have been exceeded so long as the
principal amount of such refinancing Debt does not exceed the principal amount of such Debt being refinanced. Notwithstanding any other provision of this Section 4.9, the maximum amount of Debt that the Company may Incur pursuant to this
Section 4.9 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. 

SECTION 4.10. Limitation on Asset Dispositions. 

  
 71 

 (a) The Company shall not, and shall not permit any
Restricted Subsidiary to, make any Asset Disposition unless: 
 (1) the Company or the Restricted Subsidiary,
as the case may be, receives consideration for such Asset Disposition at least equal to the Fair Market Value (measured as of the date of the definitive agreement with respect to such Asset Disposition) for the assets or Capital Stock sold or
disposed of; and 
 (2) at least 75% of the consideration for such Asset Disposition and all other Asset
Dispositions since the Issue Date on a cumulative basis consists of: 
 (i) cash or Cash Equivalents; 

(ii) the assumption of Debt of the Company or such Restricted Subsidiary (other than Debt that is subordinated
to the Notes or such Restricted Subsidiary’s Subsidiary Guarantee) relating to such assets and release from all liability on the Debt assumed; 

(iii) Replacement Assets; 

(iv) Designated Noncash Consideration; or 

(v) any combination of the foregoing; 

provided that the amount of any consideration received by the Company or such Restricted Subsidiary that
is converted into cash within 180 days of the closing of such Asset Disposition shall be deemed to be cash for purposes of this Section 4.10(a) (to the extent of the cash received). Sections 4.10(a)(1) and 4.10(a)(2) shall not apply with
respect to any condemnation, event of loss or other involuntary Asset Disposition. 
 (b) Within 450 days
after the receipt of any Net Available Proceeds from an Asset Disposition, the Company (or the applicable Restricted Subsidiary, as the case may be) may apply such Net Available Proceeds at its option: 

(1) to permanently repay, repurchase or otherwise retire any Debt (and in each case, in the case of a revolving
credit facility, permanently reduce the commitment amount thereunder by the same amount) of (i) the Company or any Subsidiary Guarantor that is not Subordinated Debt or (ii) any Restricted Subsidiary that is not a Subsidiary Guarantor; in
each case, other than Debt owed to the Company or a Restricted Subsidiary; 
 (2) to acquire Replacement
Assets or make capital expenditures; provided that the Company or such Restricted Subsidiary will be deemed to have complied with its obligations under this Section 4.10(b) if it enters into a binding commitment to acquire Replacement
Assets prior to 450 days after the receipt of the applicable Net Available Proceeds and such acquisition of Replacement Assets is consummated prior to 630 days after the date of receipt of the applicable Net

  
 72 

 
Available Proceeds; provided, further, that upon any abandonment or termination of such commitment, the Net Available Proceeds not so applied shall constitute Excess Proceeds and be
applied as set in Section 4.10(c); or 
 (3) any combination of the foregoing. 

(c) Any Net Available Proceeds that are not applied or invested as provided in Section 4.10(b) will
constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $50.0 million, or earlier, at the Company’s election, the Company will apply the Excess Proceeds to the repayment of the Notes and any
other Pari Passu Debt outstanding with similar provisions requiring the Company to make an Offer to Purchase such Debt with the proceeds from any Asset Disposition as follows: 

(1) the Company will make an Offer to Purchase from all Holders of the Notes in accordance with the procedures
set forth in this Indenture in the maximum principal amount (expressed in minimum amounts of $2,000 or integral multiples of $1,000 in excess thereof) of Notes that may be purchased out of an amount (the “Note Amount”) equal to the
product of such Excess Proceeds multiplied by a fraction, the numerator of which is the outstanding principal amount of the Notes, and the denominator of which is the sum of the outstanding principal amount of the Notes and such Pari Passu Debt
(subject to proration in the event such amount is less than the aggregate Offered Price (as defined below) for all Notes tendered); and 

(2) to the extent required by such Pari Passu Debt, the Company will make an offer to purchase or otherwise
repurchase or redeem Pari Passu Debt (a “Pari Passu Offer”) in an amount (the “Pari Passu Debt Amount”) equal to the excess of the Excess Proceeds over the Note Amount. However, in no event will the Company be
required to make a Pari Passu Offer in a Pari Passu Debt Amount exceeding the principal amount of such Pari Passu Debt plus the amount of any premium required to be paid to repurchase such Pari Passu Debt. 

The offer price for the Notes will be payable in cash in an amount equal to 100% of the principal amount of the
Notes plus accrued and unpaid interest, if any, to, but excluding, the date (the “Offer Date”) such Offer to Purchase is consummated (the “Offered Price”), in accordance with the procedures set forth in this
Indenture. To the extent that the aggregate Offered Price of the Notes tendered pursuant to the Offer to Purchase is less than the Note Amount relating to the tendered Notes or the aggregate amount of Pari Passu Debt that is purchased in a Pari
Passu Offer is less than the Pari Passu Debt Amount, the Company may use any remaining Excess Proceeds for any purpose. If the aggregate principal amount of Notes and Pari Passu Debt surrendered by holders thereof exceeds the amount of Excess
Proceeds, the selection of the Notes and Pari Passu Debt to be purchased shall be designated in writing by the Company to the Trustee on a pro rata basis to the extent practicable, by lot or by such other method as the Trustee shall deem fair and
appropriate; provided that, in the case of Global Notes, beneficial interests in such Notes shall be repurchased on a pro rata basis based on amounts tendered only if such proration is consistent with the procedures of the applicable
Depositary; otherwise, 

  
 73 

 
such beneficial interests shall be selected for repurchase in accordance with such procedures (subject, in each case, to adjustment to maintain the authorized denominations of the Notes). Upon
the completion of the purchase of all the Notes tendered pursuant to an Offer to Purchase and the completion of a Pari Passu Offer, the amount of Excess Proceeds, if any, shall be reset at zero. 

(d) If the Purchase Date is on or after an interest record date and on or before the related interest payment
date, any accrued and unpaid interest, if any, will be paid on the relevant interest payment date to the Person in whose name a Note is registered at the close of business on such record date and will not be paid as part of the Offered Price. If the
Company becomes obligated to make an Offer to Purchase pursuant to this Section 4.10, the Notes (in minimum principal amounts of $2,000 and integral multiples of $1,000 in excess thereof), and the Pari Passu Debt shall be purchased by the
Company, at the option of the Holders thereof, in whole or in part, on a date that is not earlier than 30 days and not later than 60 days from the date the notice of the Offer to Purchase is given to Holders, or such later date as may be necessary
for the Company to comply with the requirements under the Exchange Act. 
 (e) The Company shall comply with
all applicable securities laws and regulations in the United States, including, without limitation, the requirements of Rule 14e-1 under the Exchange Act and any other applicable securities laws and
regulations in connection with the purchase of Notes pursuant to an Offer to Purchase. To the extent that the provisions of any applicable securities laws or regulations conflict with this Section 4.10, the Company shall comply with the
applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.10 by virtue of such compliance. 

SECTION 4.11. Limitation on Transactions with Affiliates. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, enter
into any transaction or series of related transactions having a value in excess of $25.0 million with or for the benefit of an Affiliate of the Company or a Restricted Subsidiary, including any Investment, either directly or indirectly, unless
such transaction is on terms no less favorable to the Company or such Restricted Subsidiary than those that could be obtained in a comparable arm’s-length transaction with an entity that is not an
Affiliate or is otherwise fair to the Company from a financial point of view. For any transaction or series of related transactions involving aggregate value in excess of $50.0 million, such transaction or series of related transactions is
approved by either (x) a majority of the Disinterested Directors of the Board of Directors of the Company, if any, or in the event there is only one Disinterested Director, by such Disinterested Director, or (y) the audit committee of the
Board of Directors of the Company, with all Disinterested Directors then-serving on the audit committee of the Board of Directors voting in favor of such approval and with any Director on such committee that is not a Disinterested Director recusing
himself or herself. 
 (b) The preceding requirements shall not apply to (to the extent otherwise permitted
under this Indenture): 

  
 74 

 (1) any transaction pursuant to agreements in effect on the
Issue Date, as such agreements may be amended, modified, supplemented, extended or renewed from time to time, so long as any such amendment, modification, supplement, extension or renewal is not more disadvantageous to the Holders in any material
respect in the good faith judgment of the Board of Directors or senior management of the Company, when taken as a whole, than the terms of the agreements in effect on the Issue Date; 

(2) any employment agreement, employee benefit arrangements or severance arrangements, including under any
stock option or stock incentive plans, and the issuance of Capital Stock, restricted stock units, options or other equity securities of the Company issued thereunder, and any subscription agreement or similar agreement pertaining to the repurchase
of Capital Stock pursuant to put/call rights or similar rights, with employees, officers or directors entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business or approved by a majority of the disinterested
members of the Board of Directors of the Company; 
 (3) transactions between or among the Company and/or its
Restricted Subsidiaries and any Guarantees issued by the Company or a Restricted Subsidiary for the benefit of the Company or a Restricted Subsidiary, as the case may be, in accordance with Section 4.9; 

(4) any transaction with any Person (x) that is not an Affiliate of the Company immediately before the
consummation of such transaction that becomes an Affiliate of the Company as a result of such transaction or (y) that is an Affiliate of the Company solely because the Company, directly or indirectly, owns Capital Stock in, or controls, such
Person; 
 (5) transactions with joint ventures entered into in the ordinary course of business; 

(6) the payment of fees, reasonable
out-of-pocket costs and indemnities to directors, officers, consultants and employees of any Parent Entity, the Company or any Subsidiaries in the ordinary course of
business (limited, in the case of any Parent Entity, to the portion of such fees and expenses that are allocable to the Company and its Subsidiaries) 

(7) transactions with customers, clients, suppliers, licensors, licensees or purchasers or sellers of goods or
services, in each case in the ordinary course of the business of the Company and its Restricted Subsidiaries and otherwise in compliance with the terms of this Indenture; 

(8) the grant, issuance or sale of Capital Stock (other than Redeemable Stock) to Affiliates of the Company and
the granting of registration rights and other customary rights in connection therewith; 

  
 75 

 (9) any transaction as to which the Company delivers to the
Trustee a written opinion of an investment banking firm of national standing or other recognized independent expert with experience in appraising the terms and conditions of the type of transaction or series of related transactions for which an
opinion is required stating that the transaction or series of related transactions is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that the terms are no less favorable to the Company or such Restricted
Subsidiary than those that could be obtained in a comparable arm’s-length transaction with an entity that is not an Affiliate; 

(10) any written agreement entered into or assumed in connection with mergers or acquisitions of other
businesses with Persons who were not Affiliates prior to such transactions; provided that such agreement was not entered into in contemplation of such merger or acquisition, and any amendment thereto, so long as any such amendment is not
disadvantageous to the Holders in the good faith judgment of the Board of Directors or senior management of the Company, when taken as a whole, as compared to the applicable agreement as in effect on the date of such acquisition or merger; 

(11) transactions pursuant to any Permitted Receivables Financing; 

(12) transactions permitted by, and complying with, Section 4.7 or 4.10, including any Restricted Payment
or Permitted Investment made to a Parent Entity that is otherwise permitted under such covenants; 
 (13)
payments, loans (or cancellation of loans) or advances to employees or consultants that are (i) approved by a majority of the Disinterested Directors of the Company in good faith, (ii) made in compliance with applicable law and
(iii) otherwise permitted under this Indenture; 
 (14) transactions between the Company or any of the
Restricted Subsidiaries and any Person, a director of which is also a director of the Company or any direct or indirect parent company of the Company, provided, however, that (A) such director abstains from voting as a director of
the Company or such direct or indirect parent company, as the case may be, on any matter involving such other Person and (B) such Person is not an Affiliate of the Company for any reason other than such director’s acting in such capacity;

 (15) loans (or cancellation of loans) or advances or payments to employees, directors, officers or
consultants of any Parent Entity, the Company or any of its Restricted Subsidiaries in the ordinary course of business not to exceed $25.0 million or as a part of ordinary course payroll payments and expenses, or in connection with such
Person’s purchase of Capital Stock of the Company or any Parent Entity solely to the extent that the amount of such loans and advances shall be contributed to the Company as common equity; 

  
 76 

 (16) transactions with Alpha, or Wholly Owned Subsidiaries
thereof, for the purchase or sale of goods, equipment, products, parts and services entered into in the ordinary course of business in a manner consistent with past practice; 

(17) transactions in connection with the issuance of letters of credit for the account or benefit of any
subsidiary or any other Person designated by the Company to the extent permitted hereunder (including with respect to the issuance of or payments in connection with drawings under letters of credit); 

(18) any transactions made pursuant to any Operations Services Agreement; 

(19) (i) payments permitted pursuant to Section 4.7(b)(2) and (ii) entering into, and any
transactions pursuant to, a tax sharing agreement; 
 (20) transactions undertaken in good faith (in the
reasonable opinion of the Company) for the purpose of improving the consolidated tax efficiency of any Parent Entity, the Company and its Subsidiaries (provided that such transactions, taken as a whole, are not materially adverse to the
Company and the Restricted Subsidiaries); and 
 (21) investments by any Parent Entity in securities of the
Company or any of its Subsidiaries so long as in the case of any investment in any Restricted Subsidiary of the Company, (A) the investment is being offered generally to other investors on the same or more favorable terms and (B) the
investment constitutes less than 5.0% of the outstanding issue amount of such class of securities. 
 SECTION 4.12.
Limitation on Liens. 
 (a) The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien (other than a Permitted Lien) on any property or asset of the Company or a Restricted Subsidiary now owned or hereafter acquired to secure
(a) any Debt of the Company unless prior to, or contemporaneously therewith, the Notes are equally and ratably secured for so long as such other Debt is so secured, or (b) any Debt of any Subsidiary Guarantor, unless prior to, or
contemporaneously therewith, the Subsidiary Guarantee of such Subsidiary Guarantor is equally and ratably secured for so long as such other Debt is so secured; provided, however, that if such Debt is expressly subordinated to the Notes
or a Subsidiary Guarantee, the Lien securing such Debt will be subordinated and junior to the Lien securing the Notes or such Subsidiary Guarantee, as the case may be, with the same relative priority as such Debt has with respect to the Notes or
such Subsidiary Guarantee. 
 (b) Notwithstanding the foregoing, any Lien securing the Notes or any
Subsidiary Guarantee granted pursuant to this Section 4.12 will be automatically and unconditionally released and discharged upon the release by the holders of the Debt described in clause (a) above of their Lien on the property or assets
of the Company or any Restricted Subsidiary (including any deemed release upon payment in full of all obligations under such Debt), at such time as the holders of all such Debt also release their Lien on the

  
 77 

 
property or assets of the Company or such Restricted Subsidiary, or upon any sale, exchange or transfer to any Person that is not an Affiliate of the Company of the property or assets secured by
such Lien, or of all of the Capital Stock held by the Company or any Restricted Subsidiary in, or all or substantially all the assets of, any Restricted Subsidiary creating such Lien. 

SECTION 4.13. Offer to Purchase upon Change of Control. No later than 30 days after the occurrence of a
Change of Control, the Company will be required to make an Offer to Purchase (a “Change of Control Offer”), with a written copy to the Trustee, all outstanding Notes at a purchase price equal to 101% of their principal amount plus
accrued and unpaid interest, if any, to, but excluding, the purchase date (the “Change of Control Purchase Price”) (subject to the right of Holders of record on the relevant record date to receive interest due on an interest
payment date that is on or prior to the date of purchase). 
 On or before the Purchase Date, the Company will, to the
extent lawful, deposit with the Paying Agent an amount equal to the Change of Control Purchase Price in respect of the Notes or portions of Notes properly tendered. 

On the Purchase Date, the Company will, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes (of minimum principal amount of $2,000 or integral
multiples of $1,000 in excess thereof) properly tendered pursuant to the Change of Control Offer; and 
 (2)
deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

The Paying Agent will promptly deliver to each Holder who has so tendered Notes the Change of Control Purchase Price for such
Notes, and upon receipt of an Authentication Order, the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes so tendered,
if any; provided that each such new Note will be in a minimum principal amount of $2,000 or integral multiples of $1,000 in excess thereof. 

If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued
and unpaid interest, if any, will be paid on the relevant interest payment date to the Person in whose name a Note is registered at the close of business on such record date and will not be paid as part of the Change of Control Purchase Price. 

The Company will not be required to make a Change of Control Offer upon a Change of Control if (i) a third party makes
the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not
validly withdrawn under such Change of Control Offer, (ii) a notice of redemption for all outstanding Notes has been given, unless and until there is a default in payment of the applicable redemption price, or (iii) in connection with or
in contemplation of any publicly announced Change of Control, the Company has made an offer to purchase (an “Alternate Offer”) any and all Notes validly 

  
 78 

 
tendered at a cash price equal to or higher than the Change of Control Purchase Price and has purchased all Notes validly tendered and not validly withdrawn in accordance with the terms of the
Alternate Offer. 
 The Company shall comply with all applicable securities laws and regulations in the United States,
including, without limitation, the requirements of Rule 14e-1 under the Exchange Act and any other applicable securities laws and regulations in connection with the purchase of Notes pursuant to a Change of
Control Offer. To the extent that the provisions of any applicable securities laws or regulations conflict with this Section 4.13, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached its obligations under this Section 4.13 by virtue of such compliance. 
 The provisions under this Indenture
relating to the Company’s obligation to make a Change of Control Offer may be waived, modified or terminated with the written consent of the Holders of a majority in principal amount of the Notes then outstanding. 

Notwithstanding anything to the contrary contained herein, a Change of Control Offer or Alternate Offer may be made in advance
of a Change of Control, and conditioned upon the occurrence of a Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer or Alternate Offer. 

SECTION 4.14. Corporate Existence. Subject to Article V, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate existence and the corporate, partnership, limited liability company or other existence of each of the Subsidiary Guarantors in accordance with the respective organizational
documents (as the same may be amended from time to time) of the Company or any such Subsidiary Guarantor and the rights (charter and statutory), licenses and franchises of the Company and the Subsidiary Guarantors; provided that the Company
shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of the Subsidiary Guarantors, if the Company shall determine that the preservation thereof is no longer desirable in the
conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders. 

SECTION 4.15. Future Guarantees. If any Restricted Subsidiary that is not already a Subsidiary Guarantor
guarantees any Debt of the Company or a Subsidiary Guarantor under, or borrows Debt under, the Credit Facilities on or after the Issue Date, then such Restricted Subsidiary shall execute, within 30 days of the date on which it became a guarantor or
borrower with respect to such other Debt, a supplemental indenture in substantially the form attached hereto as Exhibit B, pursuant to which such Restricted Subsidiary shall become a Subsidiary Guarantor with respect to the Notes, upon the
terms and subject to the release provisions and other limitations set forth in this Indenture. 
 SECTION 4.16.
Designation of Restricted and Unrestricted Subsidiaries. 
 (a) The Company,
by delivery of an Officer’s Certificate to the Trustee, may designate any Restricted Subsidiary to be an “Unrestricted Subsidiary,” in which event 

  
 79 

 
such Subsidiary and each other Person that is then or thereafter becomes a Subsidiary of such Subsidiary will be deemed to be an Unrestricted Subsidiary, if: 

(1) neither the Company nor any of its other Subsidiaries (other than another Unrestricted Subsidiary) provides
credit support for, or a Guarantee of, any Debt of such Subsidiary or any Subsidiary of such Subsidiary (including any undertaking, agreement or instrument evidencing such Debt) or is directly or indirectly liable for any Debt of such Subsidiary or
any Subsidiary of such Subsidiary, and no default with respect to any Debt of such Subsidiary or any Subsidiary of such Subsidiary (including any right which the holders thereof may have to take enforcement action against such Subsidiary) would
permit (upon notice, lapse of time or both) any holder of any other Debt of the Company and its Subsidiaries (other than another Unrestricted Subsidiary) to declare a default on such other Debt or cause the payment thereof to be accelerated or
payable prior to its final scheduled maturity, except, in either case, to the extent that the amount of any such Debt constitutes a Restricted Payment or Permitted Investment that is made in compliance with Section 4.7; 

(2) such Subsidiary does not own any Capital Stock of, or does not own or hold any Lien on any property of, any
other Restricted Subsidiary which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; 

(3) at the time of designation, the Company could make a Restricted Payment or Permitted Investment in an
amount equal to the greater of the Fair Market Value and book value of its interest in such Subsidiary pursuant to Section 4.7; 

(4) such Subsidiary is a Person with respect to which neither the Company nor any of its Restricted
Subsidiaries has any direct or indirect obligation to (a) subscribe for additional Capital Stock of such Subsidiary or (b) maintain or preserve such Subsidiary’s financial condition or to cause such Subsidiary to achieve any specified
levels of operating results, except in either case to the extent that the amount of any such obligation constitutes a Restricted Payment or Permitted Investment that is made in compliance with Section 4.7; and 

(5) no Default shall have occurred and be continuing at the time of, or immediately after giving effect to,
such designation. 
 (b) The Company, by delivery of an Officer’s Certificate to the Trustee, may at any
time designate any Unrestricted Subsidiary to be a Restricted Subsidiary if: 
 (1) (x) the Company would be able to Incur at
least $1.00 of additional Debt pursuant to Section 4.9(a), or (y) the Total Leverage Ratio of the Company would not be greater than the Total Leverage Ratio of the Company immediately prior to such designation, in each case on a pro forma
basis taking into account such designation; 

  
 80 

 (2) all Liens of such Unrestricted Subsidiary outstanding immediately
following such designation would, if Incurred at such time, have been permitted to be Incurred for all purposes of this Indenture; and 

(3) no Default or Event of Default would occur and be continuing following such designation. 

SECTION 4.17. Covenant Suspension. 

(a) If on any date following the Issue Date (i) the Notes have an Investment Grade Rating from two Rating
Agencies and (ii) no Default or Event of Default has occurred and is then continuing, then, upon delivery by the Company to the Trustee of an Officer’s Certificate to the foregoing effect, the Company and the Restricted Subsidiaries will
no longer be subject to the following covenants: Sections 4.7 through 4.11, 4.15 and 5.1(a)(3). 
 During any
period that the foregoing covenants have been suspended, the Company shall not designate any of the Company’s Subsidiaries as Unrestricted Subsidiaries pursuant to Section 4.16 unless such designation would have complied with
Section 4.7 as if such covenant were in effect during such period. 
 Upon the occurrence of a covenant
suspension, the amount of Excess Proceeds from Net Available Proceeds shall be reset at zero. During any period that the foregoing covenants have been suspended, any reference in the definition of “Unrestricted Subsidiary” or
“Permitted Liens” to Section 4.9 or any provision thereof shall be construed as if such covenant had remained in effect since the Issue Date and during such period. 

(b) Notwithstanding the foregoing, if the Notes cease to have an Investment Grade Rating from two Rating
Agencies, the foregoing covenants will be reinstated as of and from the date of such rating decline, subject to further suspension in the future upon the satisfaction of the conditions described in Section 4.17(a). Any Debt Incurred during a
period when the covenants are suspended (a “suspension period”) will be classified as having been Incurred pursuant to Section 4.9(a). To the extent such Debt would not be so permitted to be Incurred, such Debt will be deemed
to have been outstanding on the Issue Date, so that it is classified as permitted under clause (4) of Section 4.9(b). Calculations under the reinstated Section 4.7 will be made as if Section 4.7 had been in effect prior to, but
not during, the suspension period. In addition: (i) for purposes of Section 4.8, all contracts entered into during a suspension period that contain any of the restrictions contemplated by such covenant will be deemed to have been entered
into pursuant to clause (1) of Section 4.8(b); (ii) for purposes of Section 4.12, any Lien Incurred during a suspension period will be deemed to have been Incurred pursuant to clause (10) of the definition of “Permitted
Liens”; and (iii) for purposes of Section 4.11, all agreements and arrangements entered into by the Company or any Restricted Subsidiary with an Affiliate of the Company during a suspension period will be deemed to have been entered
into pursuant to clause (1) of Section 4.11(b). No Default or Event of Default will be deemed to have occurred with respect to the suspended covenants as a result of any actions taken by the Company or its Restricted Subsidiaries during a
suspension period, and the 

  
 81 

 
Company and its Subsidiaries will be permitted, without causing a Default or Event of Default or breach of any of the suspended covenants (notwithstanding the reinstatement thereof) under this
Indenture, to honor, comply with or otherwise perform any contractual commitments or obligations entered into during a suspension period following a downgrade and to consummate the transactions contemplated thereby. 

(c) Promptly following the occurrence of any suspension or reinstatement of the covenants as described above,
the Company shall provide an Officer’s Certificate to the Trustee regarding such occurrence. The Trustee shall have no obligation to independently determine or verify if a suspension or reinstatement has occurred or notify the Holders of any
suspension or reinstatement. The Trustee may provide a copy of such Officer’s Certificate to any Holder of the Notes upon written request. 

ARTICLE V 
 SUCCESSORS 

SECTION 5.1. Consolidation, Merger, Conveyance, Transfer or Lease. 

(a) The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or
substantially all its assets in a single transaction or series of related transactions to, another Person, unless: 

(1) the resulting, surviving or transferee Person, if not the Company (the “Successor
Company”), shall be a corporation, partnership, trust or limited liability company organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the
Company) shall expressly assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations of the Company under this Indenture and the Notes; 

(2) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and
be continuing; 
 (3) except in the case of any such consolidation or merger of the Company with or into a
Restricted Subsidiary, immediately after giving pro forma effect to such transaction and treating any Debt which becomes an obligation of the Company or a Restricted Subsidiary as a result of such transaction as having been Incurred by the Company
or such Restricted Subsidiary at the time of the transaction, either (i) the Company (including any Successor Company) could Incur at least $1.00 of additional Debt (other than Permitted Debt) pursuant to Section 4.9(a), or (ii) the
Fixed Charge Coverage Ratio of the Company or such Successor Company is not greater immediately after such transaction than it was immediately before such transaction; 

(4) at the time of such transaction, unless the Company is the Successor Company, each Subsidiary Guarantor
will have by supplemental indenture confirmed that its Subsidiary Guarantee shall apply to such Person’s obligations under this Indenture and the Notes; and 

  
 82 

 (5) the Company shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture, if any, comply with this Indenture. 

Notwithstanding the foregoing, (i) any Restricted Subsidiary may merge into the Company or another
Restricted Subsidiary, (ii) the provisions of clauses (2) and (3) above shall not apply to a merger of the Company with or into a Restricted Subsidiary, and (iii) the above provisions shall not apply to any transfer of assets between
or among the Company and any Restricted Subsidiary. 
 For purposes of this Section 5.1(a), the sale,
lease, conveyance, assignment, transfer, or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and assets, if held by the Company instead of such Subsidiaries,
would constitute all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties
and assets of the Company. 
 The Successor Company will succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture, and, except in the case of a lease of all or substantially all its assets, the Company will be released from the obligation to pay the principal of, and interest on, the Notes and all other
obligations under this Indenture. 
 (b) Except in circumstances under which this Indenture provides for the
release of Subsidiary Guarantees as described under Section 10.5, each Subsidiary Guarantor will not, and the Company will not permit a Subsidiary Guarantor to, consolidate with or merge with or into, or convey or transfer or lease all or
substantially all its assets to, another Person (other than the Company or another Subsidiary Guarantor), unless at the time and after giving effect thereto: 

(1) 

(A) the resulting, surviving or transferee Person, if not the Subsidiary Guarantor (the “Successor
Subsidiary Guarantor”), shall be a corporation, partnership, trust or limited liability company organized and existing under the laws of the United States of America, any State thereof, the District of Columbia or the jurisdiction of such
Subsidiary Guarantor, and the Successor Subsidiary Guarantor (if not the Subsidiary Guarantor) shall expressly assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations of the Subsidiary Guarantor under this
Indenture and its Subsidiary Guarantee; 
 (B) immediately after giving effect to such transaction no
Default or Event of Default shall have occurred and be continuing; and 

  
 83 

 (C) the Subsidiary Guarantor shall have delivered to the
Trustee an Officer’s Certificate and an Opinion of Counsel, stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture, if any, comply with this Indenture; or 

(2) such transaction is undertaken in compliance with Section 4.10. 

For purposes of this Section 5.1(b), the sale, lease, conveyance, assignment, transfer, or other
disposition of all or substantially all of the properties and assets of one or more Subsidiaries of a Subsidiary Guarantor, which properties and assets, if held by such Subsidiary Guarantor instead of such Subsidiaries, would constitute all or
substantially all of the properties and assets of such Subsidiary Guarantor on a consolidated basis, shall be deemed to be the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and
assets of such Subsidiary Guarantor. 
 The Successor Subsidiary Guarantor will succeed to, and be
substituted for, and may exercise every right and power of, the Subsidiary Guarantor under this Indenture, but, in the case of a lease of all or substantially all its assets, the Subsidiary Guarantor will not be released from its obligations under
its Subsidiary Guarantee. 
 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.1. Events of Default. 

(a) Each of the following is an “Event of Default”: 

(1) failure to pay principal of (or premium, if any, on) any Note when due and payable, at maturity, upon
redemption or otherwise; 
 (2) failure to pay any interest on any Note when due and payable and such default
continues for 30 days; 
 (3) default in the payment of principal, premium and interest on Notes required to
be purchased pursuant to an Offer to Purchase as described under Sections 4.10 and 4.13 when due and payable; 

(4) failure to perform any other covenant or agreement of the Company under this Indenture or the Notes and
such default continues for 60 days (or 120 days with respect to Section 4.3) after written notice to the Company by the Trustee or as provided to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the
outstanding Notes; 
 (5) default under the terms of any instrument evidencing or securing any Debt of the
Company or any Restricted Subsidiary having an outstanding principal amount of $100.0 million, individually or in the aggregate, which default results in the acceleration of the payment of all or any portion of such Debt or constitutes the
failure to pay all or any portion of the principal amount of such Debt when due at 

  
 84 

 
final maturity (after giving effect to any applicable grace period provided in such Debt); provided that in connection with any series of convertible or exchangeable securities
(a) any conversion or exchange of such securities by a holder thereof into shares of Capital Stock, cash or a combination of cash and shares of Capital Stock, (b) the rights of holders of such securities to convert or exchange into shares
of Capital Stock, cash or a combination of cash and shares of Capital Stock and (c) the rights of holders of such securities to require any repurchase by the Company of such securities in cash shall not, in itself, constitute an Event of
Default under this clause (5); 
 (6) the rendering of one or more final judgments, orders or decrees (not
subject to appeal) of any court or regulatory or administrative agency against the Company or any Restricted Subsidiary or any of their respective properties in an amount in excess of $100.0 million, either individually or in the aggregate,
(exclusive of any portion of any such payment covered by insurance) which remains undischarged or unstayed for a period of 45 days after the date on which the right to appeal has expired; 

(7) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of
competent jurisdiction seeking: 
 (A) relief in respect of the Company or any Significant Restricted
Subsidiary or any group of Restricted Subsidiaries that together would constitute a Significant Restricted Subsidiary, or of a substantial part of the property or assets of the Company or any Significant Restricted Subsidiary, under Title 11 of the
United States Code or the Israeli Insolvency and Rehabilitation Law, in each case, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law; 

(B) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the
Company or any Significant Restricted Subsidiary or for a substantial part of the property or assets of the Company or any Significant Restricted Subsidiary; 

(C) the winding-up or liquidation of the Company or any Significant
Restricted Subsidiary (other than as permitted hereunder); or 
 (D) the removal of any Israeli Subsidiary
Guarantor from the records of the Israeli Registrar of Companies (other than as permitted under this Indenture); and such proceeding or petition shall continue undismissed for 60 consecutive days or an order or decree approving or ordering any of
the foregoing shall be entered; 
 (8) the Company or any Significant Restricted Subsidiary or any group of
Restricted Subsidiaries that together would constitute a Significant Restricted Subsidiary shall: 

  
 85 

 (A) voluntarily commence any proceeding or file any
petition seeking relief under Title 11 of the United States Code or the Israeli Insolvency and Rehabilitation Law, in each case, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or
similar law; 
 (B) consent to the institution of, or fail to contest in a timely and appropriate manner,
any proceeding or the filing of any petition described in clause (7) of this Section 6.1(a); 

(C) apply for or consent in writing to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Company or any Significant Restricted Subsidiary or for a substantial part of the property or assets of the Company or any Significant Restricted Subsidiary; 

(D) file an answer admitting the material allegations of a petition filed against it in any such proceeding;

 (E) make a general assignment for the benefit of creditors; or 

(F) become unable or admit in writing its general inability or fail generally to pay its debts as they become
due; and 
 (9) the Subsidiary Guarantee of any Subsidiary Guarantor is held by a final non-appealable order or judgment of a court of competent jurisdiction to be unenforceable or invalid or ceases for any reason to be in full force and effect (other than in accordance with the terms of this
Indenture) or any Subsidiary Guarantor or any Person acting on behalf of any Subsidiary Guarantor denies or disaffirms such Subsidiary Guarantor’s obligations under its Subsidiary Guarantee (other than by reason of a release of such Subsidiary
Guarantor from its Subsidiary Guarantee in accordance with the terms of this Indenture). 
 (b) Any written
notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of acceleration or take any other action (a “Noteholder Direction”) provided by any one or more Holders (other than a
Regulated Bank) (each a “Directing Holder”) must be accompanied by a written representation from each such Holder delivered to the Company and the Trustee that such Holder is not (or, in the case such Holder is DTC or its nominee,
that such Holder is being instructed solely by beneficial owners that are not) Net Short (a “Position Representation”), which representation, in the case of a Noteholder Direction relating to the delivery of a notice of Default (a
“Default Direction”) shall be deemed repeated at all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing Holder is deemed, at the time of
providing a Noteholder Direction, to covenant to provide the Company with such other information as the Company may reasonably request from time to time in order to verify the accuracy of such Holder’s Position Representation within five
Business Days of request therefor (a “Verification  

  
 86 

 
Covenant”). In any case in which the Holder is DTC or its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of
the Notes in lieu of DTC or its nominee, and DTC shall be entitled to conclusively rely on such Position Representation and Verification Covenant in delivering its direction to the Trustee. 

(c) If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Company
determines in good faith that there is a reasonable basis to believe a Directing Holder was, at any relevant time, in breach of its Position Representation and provides to the Trustee an Officer’s Certificate certifying that the Company
(i) has a good faith reasonable basis to believe that one or more Directing Holders were at any relevant time in breach of their Position Representation or their Verification Covenant and (ii) stating that the Company has initiated
litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation, and seeking to invalidate any Default or Event of Default or acceleration (or notice
thereof) that resulted from the applicable Noteholder Direction, the cure period with respect to such Default or Event of Default shall be automatically stayed and the cure period with respect to such Default or Event of Default shall be
automatically reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter. If, following the delivery of a Noteholder Direction, but
prior to acceleration of the Notes, the Company provides to the Trustee an Officer’s Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to such Default or Event of Default shall
be automatically stayed and the cure period with respect to any Default or Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy stayed pending satisfaction of such Verification
Covenant. Any breach of the Position Representation shall result in such Directing Holder’s participation in such Noteholder Direction being disregarded; and, if, without the participation of such Directing Holder, the percentage of Notes held
by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default shall be deemed
never to have occurred, any related acceleration, rescinded, voided and the Trustee, shall be deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default, and shall not be permitted to act thereon and
shall be restricted from accepting and acting on any future Noteholder Direction in relation to such Event of Default. If the Directing Holder has satisfied its Verification Covenant, then the Trustee shall be permitted to act in accordance with
such Noteholder Direction. Notwithstanding the above, if such Directing Holder’s participation is not required to achieve the requisite level of consent of Holders required under this Indenture to give such Noteholder Direction, the Trustee
shall be permitted to act in accordance with such Noteholder Direction notwithstanding any action taken or to be taken by the Company (as described in Section 6.1(b)). 

(d) Notwithstanding anything in Sections 6.1(b) and 6.1(c) to the contrary, any Noteholder Direction delivered
to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar proceeding shall not require compliance with the 

  
 87 

 
foregoing paragraphs. In addition, for the avoidance of doubt, Sections 6.1(b) and 6.1(c) shall not apply to any Holder that is a Regulated Bank. 

(e) For the avoidance of doubt, the Trustee shall be entitled to conclusively rely on any Noteholder Direction
delivered to it in accordance with this Indenture, shall have no duty to monitor, inquire as to or investigate the accuracy of any Position Representation, enforce compliance with any Verification Covenant, verify any statements in any
Officer’s Certificate delivered to it, or otherwise make calculations, investigations or determinations with respect to Derivative Instruments, Net Shorts, Long Derivative Instruments, Short Derivative Instruments or otherwise. The Trustee
shall have no liability or responsibility to the Company, any Holder or any other Person in connection with any Noteholder Direction or to determine whether or not any Holder has delivered a Position Representation or that such Position
Representation conforms with this Indenture or any other agreement. The Trustee shall have no obligation to (i) monitor, investigate, verify or otherwise determine if a Holder has a Net Short position, (ii) inquire if the Company will seek
action to determine if a Directing Holder has breached its Position Representation, (iii) monitor any court proceedings undertaken in connection therewith or (iv) monitor or investigate whether any Default or Event of Default has been
publicly reported. 
 Each Holder by accepting a Note acknowledged and agreed that the Trustee (and any agent) shall not be liable to any
party for acting or refraining to act in accordance with (i) the foregoing provisions, (ii) any Noteholder Direction, (iii) any Officer’s Certificate or (iv) its duties under the Indenture. 

SECTION 6.2. Acceleration. If an Event of Default (other than an Event of Default specified in clause (7) or
(8) of Section 6.1(a)) shall have occurred and be continuing under this Indenture, the Trustee, by written notice to the Company, or the Holders of at least 25.0% in aggregate principal amount of the Notes then outstanding by written notice to
the Company and the Trustee, may declare (an “acceleration declaration”) the principal of, and accrued and unpaid interest, if any, on all outstanding amounts owing under the Notes to be due and payable. Upon such acceleration
declaration, the aggregate principal of and accrued and unpaid interest, if any, on the outstanding Notes shall become due and payable immediately. No such notice of an Event of Default may be given with respect to any action reported publicly or to
Holders more than two years prior to the date of such notice of Event of Default. 
 At any time after such acceleration
pursuant to this Section 6.2, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal amount of the Notes then outstanding may rescind and annul such acceleration if: 

(1) the rescission would not conflict with any judgment or decree; and 

(2) the Company has paid the Trustee and the Agents their respective reasonable compensation and reimbursed the
Trustee and the Agent for their respective reasonable expenses, disbursements and advances. 
 No such rescission shall
affect any subsequent Default or impair any right consequent thereto. 

  
 88 

 If an Event of Default specified in clause (7) or (8) of
Section 6.1(a) occurs, then all unpaid principal of, and accrued and unpaid interest, if any, on all of the outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other action or notice on the
part of the Trustee or any Holder of the Notes to the extent permitted by applicable law. 
 SECTION 6.3. Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest, if any, on the Notes or to enforce the performance of any provision of the
Notes or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event
of Default. All remedies are cumulative to the extent permitted by law. 
 SECTION 6.4. Waiver of Past Defaults.
Subject to Section 9.2, the Holders of a majority in aggregate principal amount of the Notes then outstanding by written notice to the Trustee may, on behalf of the Holders of all of the Notes, waive any existing Default or Event of Default and
its consequences under this Indenture except a continuing Default or Event of Default in the payment of interest or premium on, or the principal of, the Notes (other than any such payment that has become due because of an acceleration that has been
rescinded). 
 SECTION 6.5. Control by Majority. The Holders of a majority in aggregate principal amount of the
then-outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust power conferred on it. However, (i) the Trustee may require indemnity and/or
security satisfactory to it be furnished prior to taking such actions, (ii) the Trustee may refuse to follow any direction that conflicts with law, this Indenture or the Notes or, subject to Sections 7.1 and 7.2, that the Trustee determines in
good faith may be unduly prejudicial to the rights of Holders not joining in the giving of such direction (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such direction is unduly prejudicial to
the rights of such other Holders) or that would involve any personal liability for the Trustee and (iii) the Trustee may take any other action it deems proper that is not inconsistent with any such direction received from the Holders. 

SECTION 6.6. Limitation on Suits. Subject to Section 6.7, no Holder of a Note will have any right to
institute any proceeding with respect to this Indenture, or for the appointment of a receiver or a trustee, or for any other remedy thereunder unless (a) such Holder has previously given to the Trustee written notice of a continuing Event of
Default with respect to the Notes, (b) the Holders of at least 25% in aggregate principal amount of the outstanding Notes have made written request, and such Holder or Holders have offered and, if requested, provided to the Trustee indemnity
and/or security satisfactory to the Trustee to institute such proceeding as trustee, (c) the Trustee has failed to institute such proceeding, and (d) the Trustee has not received from the Holders of a majority in aggregate principal amount
of the outstanding Notes a written direction inconsistent with such request, within 60 days after such notice, request and offer. However, such limitations do not apply to a suit instituted by a Holder of a Note for the enforcement of payment of the
principal of or any premium or interest on such Note on or after the applicable due date 

  
 89 

 
specified in such Note. Prior to taking any such action hereunder, the Trustee shall be entitled to indemnification and/or security satisfactory to it against all fees, losses, liabilities and
expenses (including attorney’s fees and expenses) that may be caused by taking or not taking such action. 
 A Holder
may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such use by a
Holder prejudices the rights of any other Holders or obtains priority or preference over such other Holders). 

SECTION 6.7. Rights of Holders of Notes to Receive Payment. Notwithstanding any other provision of this Indenture
(including, without limitation, Section 6.6), the contractual right of any Holder to receive payment of principal of, premium or interest on, such Note or to bring suit for the enforcement of any such payment, on or after the due date expressed
in the Notes, shall not be modified or amended in a manner adverse to such Holder without the consent of the Holder (and, for the avoidance of doubt, the amendment, supplement or modification in accordance with the terms of this Indenture of
Articles III and IV and Section 6.1 and the related definitions shall be deemed not to impair the contractual right of any Holder to receive payments of principal of, premium and interest on such Holder’s Notes on or after the due dates
therefor or to institute suit for the enforcement of any such payment on or with respect to such Holder’s Note). 

SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in clause (1) or (2) of
Section 6.1(a) occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid
on the Notes and interest on overdue principal and, to the extent lawful, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel. 
 SECTION 6.9. Trustee May File Proofs of Claim. The Trustee may file such
proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes including the Subsidiary Guarantors), its creditors or its property and shall be entitled and empowered to collect, receive and
distribute any money or other securities or property payable or deliverable upon the conversion or exchange of the Notes or on any such claims, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.6. To the extent that the payment of any such compensation, expenses, disbursements and advances to the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 7.6 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money,
securities and other properties that the Holders may be entitled to receive in such proceeding, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing in this Section 6.9 shall be deemed to authorize the
Trustee to authorize or 

  
 90 

 
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 6.10. Priorities. If
the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money and property in the following order: 

First: to the Trustee, the Agents and their respective agents and attorneys for amounts due under
Section 7.6, including payment of all reasonable compensation, expenses and liabilities incurred, and all advances made, by it and the costs and expenses of collection; 

Second: to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest
ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; 

Third: without duplication, to the Holders for any other obligations owing to the Holders under this
Indenture and the Notes; and 
 Fourth: to the Company or to such party as a court of competent
jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10. At least 15 days before such record date, the Company shall send or cause to be sent to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture
or in any suit against the Trustee for any action taken or omitted by it as the Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its
discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This
Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.7, or a suit by Holders of more than 10.0% in principal amount of the then-outstanding Notes. 

SECTION 6.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in
such proceedings, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such
proceeding has been instituted. 
 SECTION 6.13. Rights and Remedies Cumulative. Except as otherwise provided
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.7, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended

  
 91 

 
to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION 6.14. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Note to
exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article VI or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

ARTICLE VII 
 TRUSTEE 

SECTION 7.1. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and
powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

(b) Except during the continuance of an Event of Default actually known to a Responsible Officer of the Trustee
as provided for herein: 
 (1) the duties of the Trustee shall be determined solely by the express provisions
of this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon certificates, orders or opinions furnished to the Trustee and conforming to the requirements of this Indenture or the Notes, as the case may be. However, the Trustee shall examine any certificates and opinions furnished to it
to determine whether or not they conform to the requirements of this Indenture or the Notes, as the case may be (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liabilities for its own grossly negligent action, its own negligent
failure to act, or its own willful misconduct, except that: 
 (1) this paragraph does not limit the effect
of Section 7.1(b); 
 (2) the Trustee shall not be liable for any error of judgment made in good faith
by a Responsible Officer of the Trustee, unless it is proved that the Trustee was grossly negligent in ascertaining the pertinent facts; 

  
 92 

 (3) the Trustee shall not be liable with respect to any
action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.5; and 

(4) no provision of this Indenture or the Notes shall require the Trustee to expend or risk its own funds or
incur any liability in the performance of any of its duties hereunder or thereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it. 
 (d) The Trustee shall not be liable for interest on or
the investment of any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(e) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to
the Trustee, including, without limitation, any provision relating to the conduct or affecting the liability of or affording protection to the Trustee, is subject to this Section 7.1. 

SECTION 7.2. Rights of Trustee. 

Subject to Section 7.1: 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting on any
resolution, certificate, statement, instrument, opinion, notice, report, request, direction, consent, order, judgment, bond, debenture or other document (whether in original or facsimile form or PDF or other electronic transmission) believed by it
to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated therein. 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion
of Counsel or both; provided that (x) no Officer’s Certificate and/or Opinion of Counsel shall be required to be delivered in connection with the issuance of the Notes that are issued on the Issue Date or (y) no Opinion of
Counsel shall be required to be delivered in connection with the execution of any amendment or supplement entered into in connection with adding a Guarantor in substantially the form attached hereto as Exhibit B or releasing a Guarantor
pursuant to the terms of this Indenture. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. Prior to taking, suffering or admitting any action,
the Trustee may consult with counsel of the Trustee’s own choosing, and the Trustee shall be fully protected from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in conclusive reliance on the
advice or opinion of such counsel. 
 (c) The Trustee may execute any of the trusts and powers hereunder or
perform any duties hereunder either directly or act through its attorneys and agents and shall not be 

  
 93 

 
responsible for the misconduct or negligence of any attorney or agent appointed with due care. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to
be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 (e) Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company or a Subsidiary Guarantor shall be sufficient if signed by an Officer of the Company or such Subsidiary Guarantor. 

(f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture or the Notes at the request, order or direction of any of the Holders unless such Holders shall have offered, and if requested, provided to the Trustee security and/or indemnity satisfactory to the Trustee against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction. 
 (g) The Trustee
shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, judgment, bond, debenture, note, other evidence of
indebtedness or other paper or documents, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine during normal business hours the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company, and shall incur no liability or additional liability of
any kind by reason of such inquiry or investigation. 
 (h) The rights, privileges, protections, immunities,
indemnities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including, without limitation, the Deposit
Trustee to the Agents and to each other agent, custodian and Person employed to act hereunder. 
 (i) The
Trustee may request that the Company and each of the Subsidiary Guarantors shall deliver to the Trustee an Officer’s Certificate setting forth the names of individuals and/or titles of Officers of the Company and each Subsidiary Guarantor, as
applicable, authorized at such time to take specified actions pursuant to this Indenture of the Company, the Notes and the Subsidiary Guarantees, which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s
Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 

(j) The Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of
Default unless a Responsible Officer of the Trustee has received from the Company or Subsidiary Guarantor or from any Holder written notice thereof at its address set forth in Section 11.1 and such notice references the Notes, the Company and
this Indenture. In the absence of such notice, the Trustee may conclusively assume that no such Default or Event of Default exists. 

  
 94 

 (k) In no event shall the Trustee be responsible or liable
for special, indirect, punitive, incidental or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action. 
 (l) The Trustee shall not be required to give any bond or surety in
respect of the performance of its powers and duties hereunder. 
 (m) No provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties thereunder, or in the exercise of any of its rights or powers. 

(n) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as
duties hereunder. 
 (o) The Trustee shall not be deemed to have knowledge of any fact or matter unless such
fact or matter is known to a Responsible Officer of the Trustee. 
 (p) Whenever in the administration of
this Indenture or the Notes the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder or thereunder, the Trustee (unless other evidence be herein specifically prescribed)
may, in the absence of gross negligence or willful misconduct on its part, conclusively rely upon an Officer’s Certificate. 

(q) The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture or the Notes. 

SECTION 7.3. Individual Rights of the Trustee. The Trustee in its individual or any other capacity may become the
owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. The Trustee is also subject to
Section 7.9. In addition, the Trustee shall be permitted to engage in transactions with the Company; provided, however, that if the Trustee acquires any conflicting interest, the Trustee must (i) eliminate such conflict
within 90 days of acquiring such conflicting interest, (ii) apply to the SEC for permission to continue acting as Trustee or (iii) resign. 

SECTION 7.4. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture, the Notes or any Subsidiary Guarantee, it shall not be accountable for the use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction
under any provision of this Indenture, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in
the Notes, any Officer’s Certificate delivered to the Trustee hereunder, or any other document in connection with the sale of the Notes or pursuant to this Indenture other than the Trustee’s certificate of authentication hereunder. 

  
 95 

 SECTION 7.5. Notice of Defaults. If a Default or Event of
Default occurs and is continuing and the Trustee has notice or knowledge thereof as provided in Section 7.2(j), the Trustee shall deliver to Holders a notice of the Default or Event of Default within the later of 90 days after it occurs or 30
days after the Trustee has notice or obtains knowledge thereof. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long as the
Trustee in good faith determines that the withholding of such notice is in the interest of the Holders. The Trustee shall not be deemed to have knowledge of any Defaults or Events of Default unless written notice of an event, which is in fact a
Default, has been delivered to the Trustee at its office specified in Section 11.1 and such notice references the Notes, the Company and this Indenture and states that it is a “Notice of Default.” 

SECTION 7.6. Compensation and Indemnity. The Company and the Subsidiary Guarantors, jointly and severally, shall
pay to the Trustee and the Agents (acting in their respective capacities hereunder) from time to time compensation for its acceptance of this Indenture and for all services rendered by it hereunder as agreed upon in writing. The Trustee’s and
the Agents’ compensation shall not be limited by any law on compensation of a trustee of an express trust. In addition to the compensation for the Trustee’s services, the Company and the Subsidiary Guarantors, jointly and severally, will
reimburse the Trustee and the Agents, as applicable, promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services under the Indenture. Such expenses shall
include the reasonable compensation, disbursements, expenses and advances of the Trustee’s or the Agents’ agents, accountants, experts and counsel. 

Each of the Company and the Subsidiary Guarantors, jointly and severally, shall indemnify, defend, protect and hold the
Trustee (which for purposes of this Section 7.6 shall include the Agents and their respective officers, directors, employees, agents, successors and assigns) harmless against any and all claims, damages, losses, liabilities, costs or expenses,
including, without limitation, taxes (other than taxes based upon the income of the Trustee), suffered or incurred by it (including, without limitation, the fees and expenses of its agents and counsel) arising out of or in connection with the
acceptance or administration of its duties under this Indenture, the performance of its obligations and/or exercise of its rights hereunder, including the costs and expenses of enforcing this Indenture against the Company or any Subsidiary Guarantor
(including this Section 7.6) and defending itself against any claim (whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, claim, damage, liability, cost or expense shall have been found by a court of competent jurisdiction in a non-appealable final decision to have been directly caused by its own
gross negligence or willful misconduct. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity of which it has received written notice. Failure by the Trustee to so notify the Company shall not relieve the Company
of its obligations hereunder. The Company shall defend the claim and the Trustee shall provide reasonable cooperation in such defense. The Trustee may have separate counsel, and the Company shall pay the reasonable fees and expenses of such
counsel for the Trustee. If the Company has assumed the defense of the Trustee, the Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld, conditioned or delayed. Any settlement that
affects the Trustee may not be entered into without the consent of the Trustee, unless the Trustee is given a full and unconditional release from liability 

  
 96 

 
with respect to the claims covered thereby and such settlement does not include a statement or admission of fault, culpability or failure to act by or on behalf of the Trustee. 

The obligations of the Company and the Subsidiary Guarantors under this Section 7.6 shall survive the satisfaction and
discharge of this Indenture, the payment of the Notes or the resignation or removal of the Trustee. 
 To secure the
Company’s payment obligations in this Section 7.6, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal or interest, if any, on particular
Notes. Such Lien shall survive the satisfaction and discharge of this Indenture, the payment of the Notes and the resignation or removal of the Trustee. 

The Company’s payment and indemnification obligations pursuant to this Section 7.6 shall survive the discharge of
this Indenture and any resignation or removal of the Trustee under Section 7.7. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs fees, expenses or renders services after the occurrence
of an Event of Default specified in clause (7) or (8) of Section 6.1(a), the fees, expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law. 
 SECTION 7.7. Replacement of Trustee. A resignation or removal of the
Trustee and appointment of a successor Trustee shall become effective only upon the successor trustee’s acceptance of appointment as provided in this Section 7.7. 

The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the Company. The
Holders of a majority in principal amount of the then-outstanding Notes may remove the Trustee upon 30 days’ written notice to the Trustee and the Company. The Company may remove the Trustee if no Event of Default exists and: 

(a) the Trustee fails to comply with Section 7.9; 

(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the
Trustee under any Bankruptcy Law; 
 (c) a custodian or public officer takes charge of the Trustee or its
property; or 
 (d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such
Holders do not reasonably promptly appoint a successor Trustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee),
the Company shall promptly appoint a successor trustee. Within one year after the successor trustee takes office, the Holders of a majority in principal amount of the then-outstanding Notes may appoint a successor trustee to replace the successor
trustee appointed by the Company. 

  
 97 

 If a successor trustee does not take office within 30 days after the
retiring Trustee resigns or is removed, such retiring Trustee (at the expense of the Company), the Company or the Holders of at least 10.0% in principal amount of the then-outstanding Notes may at the cost of the Company petition any court of
competent jurisdiction for the appointment of a successor trustee. 
 If the Trustee, after written request by any Holder
who has been a Holder for at least six months, fails to comply with Section 7.9, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. 

A successor trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company.
Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor trustee shall have all the rights, powers and the duties of the Trustee under this Indenture. The successor trustee shall mail a notice of its
succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided that all sums owing to such Trustee hereunder have been paid and subject to the Lien provided for in
Section 7.6. Notwithstanding replacement of the Trustee pursuant to this Section 7.7, the Company’s and the Subsidiary Guarantors’ obligations under Section 7.6 shall continue for the benefit of the retiring Trustee. The
predecessor Trustee shall have no liability for any action or inaction of any successor Trustee. 
 SECTION 7.8.
Successor Trustee by Merger, Etc. If the Trustee or any Agent consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business or assets (including this transaction) to, another corporation or
banking association, the resulting successor, surviving or transferee corporation without any further act shall be the successor Trustee or Agent, as applicable. 

SECTION 7.9. Eligibility; Disqualification. There shall at all times be a Trustee hereunder that is a corporation
or banking association organized and doing business under the laws of the United States or of any state thereof that is authorized under such laws to exercise corporate trustee power and that is subject to supervision or examination by federal or
state authorities. Such Trustee together with its affiliates shall at all times have a combined capital surplus of at least $50.0 million as set forth in its most recent annual report of condition. 

ARTICLE VIII 
 DEFEASANCE;
DISCHARGE OF THIS INDENTURE 
 SECTION 8.1. Option to Effect Legal Defeasance or Covenant Defeasance. The
Company may, by delivery of an Officer’s Certificate, at any time, elect to have either Section 8.2 or 8.3 applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII. 

SECTION 8.2. Legal Defeasance. Upon the Company’s exercise under Section 8.1 of the option applicable to
this Section 8.2, the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.4, be deemed to have been discharged from their obligations with respect to all outstanding Notes and
Subsidiary Guarantees and this Indenture and having cured all then-existing Defaults and Events of Default on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal

  
 98 

 
Defeasance means that the Company and the Subsidiary Guarantors shall be deemed to have paid and discharged all of the obligations with respect to this Indenture, the Notes and the Subsidiary
Guarantees, which shall thereafter be deemed to be outstanding only for the purposes of Section 8.5 and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all of their other obligations under such
Notes, Subsidiary Guarantees and this Indenture (and the Trustee, on written demand of and at the expense of the Company, shall execute instruments acknowledging the same), and this Indenture shall cease to be of further effect as to all such Notes
and Subsidiary Guarantees, except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, and
interest and premium on, such Notes when such payments are due from the trust funds referred to in clause (1) of Section 8.4; (b) the Company’s obligations with respect to such Notes under Sections 2.2, 2.3, 2.4, 2.6, 2.7, 2.10 and
4.2; (c) the rights, powers, trusts, duties, indemnities and immunities of the Trustee, including without limitation, under Sections 7.6, 8.5 and 8.7 and the obligations of the Company and the Subsidiary Guarantors in connection therewith; and
(d) the provisions of this Article VIII. Subject to compliance with this Article VIII, the Company may exercise its option under this Section 8.2 notwithstanding the prior exercise of its option under Section 8.3. 

SECTION 8.3. Covenant Defeasance. Upon the Company’s exercise under Section 8.1 of the option applicable
to this Section 8.3, the Company shall, subject to the satisfaction of the conditions set forth in Section 8.4, be released from its obligations under Sections 4.3, 4.5, 4.7 through 4.16, 5.1(a)(3), 5.1(a)(4) and 5.1(b) on and after the
date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not outstanding for the purposes of any direction, waiver, consent or declaration or act of Holders
(and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed outstanding for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Company or any of its Subsidiaries may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall
not constitute a Default or an Event of Default under Section 6.1, and the Events of Default in clauses (3) through (6), (7) (with respect to Significant Restricted Subsidiaries only), (8) (with respect to Significant Restricted
Subsidiaries only) and (9) of Section 6.1(a) shall no longer apply but, except as specified above, the remainder of this Indenture and such Notes and any Subsidiary Guarantees shall be unaffected thereby. 

SECTION 8.4. Conditions to Legal or Covenant Defeasance. The following shall be the conditions to the application
of either Section 8.2 or 8.3 to the outstanding Notes: 
 (1) the Company must irrevocably deposit with
the Trustee, as trust funds, in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Obligations or a combination thereof, in such amounts as will be sufficient
without consideration of any reinvestment of interest (if U.S. Government Obligations are deposited, in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants selected by the Company and
delivered to the Trustee), to pay the principal of, premium, if any, and interest, if any, on the outstanding Notes on 

  
 99 

 
the stated date for payment thereof or on the applicable redemption date, as the case may be, and any other amounts owing under this Indenture (in the case of an optional redemption date prior to
electing to exercise either Legal Defeasance or Covenant Defeasance, the Company has delivered to the Trustee an irrevocable notice to redeem all of the outstanding Notes on such redemption date); 

(2) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel in
the United States confirming that, subject to customary assumptions and exclusions: 
 (A) the Company has
received from, or there has been published by, the U.S. Internal Revenue Service a ruling; or 
 (B) since
the Issue Date, there has been a change in the applicable U.S. federal income tax law; 
 in either case to the effect that,
and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and exclusions, the beneficial owners of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of
the Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel
in the United States confirming that, subject to customary assumptions and exclusions, the beneficial owners of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of the Covenant Defeasance
and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(4) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other
than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other Debt) and the Incurrence of Liens associated with any such borrowings); 

(5) the Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a
default under any material agreement or instrument (other than this Indenture and the agreements governing any other Debt being defeased, discharged or replaced) to which the Company or any of its Restricted Subsidiaries is a party or by which the
Company or any of its Restricted Subsidiaries is bound; 
 (6) the Company shall have delivered to the
Trustee an Officer’s Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company or others; and 

  
 100 

 (7) the Company shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel (which opinion may be subject to customary assumptions and exclusions), each stating that the applicable conditions precedent provided for in clauses (1) through (6) of this Section 8.4
have been complied with. 
 SECTION 8.5. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 8.6, all U.S. dollar and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.5,
the “Deposit Trustee”) pursuant to Section 8.4 or 8.8 in respect of the outstanding Notes shall be held in trust, shall not be invested, and shall be applied by the Deposit Trustee in accordance with the provisions of such
Notes and this Indenture to the payment, either directly or through any Paying Agent (including the Company or any Subsidiary acting as Paying Agent), to the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, if any, but such money need not be segregated from other funds except to the extent required by law. 

The Company shall pay and indemnify the Deposit Trustee against any tax, fee or other charge imposed on or assessed against
the cash or non-callable U.S. Government Obligations deposited pursuant to Section 8.4 or 8.8 or the principal and interest received in respect thereof other than any such tax, fee or other charge which
by law is for the account of the Holders of the outstanding Notes. 
 Anything in this Article VIII to the contrary
notwithstanding, the Deposit Trustee shall deliver or pay to the Company from time to time upon the written request of the Company and be relieved of all liability with respect to any U.S. dollars or
non-callable U.S. Government Obligations held by it as provided in Sections 8.4 or 8.8 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Deposit Trustee (which may be the opinion delivered under clause (1) of Section 8.4), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal
Defeasance or Covenant Defeasance or satisfaction and discharge, as the case may be. 
 SECTION 8.6. Repayment to
Company. Subject to applicable escheat laws, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed
for two years after such principal and premium, if any, or interest has become due and payable shall be paid to the Company on its written request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note
shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof; and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall
thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense and written request of the Company cause to be published once, in The New York Times and
The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such
money then remaining shall be repaid to the Company. 

  
 101 

 SECTION 8.7. Reinstatement . If the Trustee or Paying Agent is
unable to apply any U.S. dollars or U.S. Government Obligations in accordance with Section 8.2, 8.3 or 8.8, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the obligations of the Company and the Subsidiary Guarantors under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.2, 8.3 or 8.8 until such
time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2, 8.3 or 8.8, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any,
or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

SECTION 8.8. Discharge. This Indenture will be discharged and will cease to be of further effect (except as to
surviving rights of registration of transfer or exchange of the Notes, which shall survive until all Notes have been canceled, and the rights, protections, indemnities and immunities of the Trustee) as to all outstanding Notes and Subsidiary
Guarantees when either: 
 (1) all the Notes that have been authenticated and delivered (except lost, stolen
or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust) have been delivered
to the Trustee for cancellation; or 
 (2) (a) all Notes not delivered to the Trustee for cancellation
otherwise (i) have become due and payable, (ii) will become due and payable, or may be called for redemption, within one year or (iii) have been called for redemption within one year under irrevocable arrangements satisfactory to the
Trustee for the giving of notice of redemption by the Trustee in the name and at the expense of the Company and, in any case, the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds
in trust solely for the benefit of the Holders, cash in U.S. dollars in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Debt (including all principal and accrued interest, if
any) on the Notes not theretofore delivered to the Trustee for cancellation; 
 (b) the Company or any
Subsidiary Guarantor has paid or caused to be paid all other sums payable by the Company under this Indenture; and 

(c) the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the
deposited money toward the payment of the Notes at maturity or on the date of redemption, as the case may be. 
 In
addition, the Company must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been complied with. 

  
 102 

 After the Notes are no longer outstanding, the Company’s and the
Subsidiary Guarantors’ obligations in Sections 7.6, 8.5, 8.7 and 10.1(d) shall survive any discharge pursuant to this Section 8.8. 

After such delivery or irrevocable deposit and receipt of the Officer’s Certificate and Opinion of Counsel, the Trustee,
upon written request, shall acknowledge in writing the discharge of the Company’s obligations under the Notes and this Indenture except for those surviving obligations specified above. 

ARTICLE IX 
 AMENDMENT, SUPPLEMENT
AND WAIVER 
 SECTION 9.1. Without Consent of Holders of the Notes. Notwithstanding Section 9.2, without
the consent of any Holders, the Company, the Subsidiary Guarantors and the Trustee, at any time and from time to time, may amend or supplement this Indenture, the Subsidiary Guarantees or the Notes issued hereunder for any of the following purposes:

 (1) to evidence the succession of another Person to the Company or a Subsidiary Guarantor under this
Indenture, the Notes or the applicable Subsidiary Guarantee, and the assumption by any such successor of the covenants of the Company or such Subsidiary Guarantor under this Indenture, the Notes and such Subsidiary Guarantee in accordance with
Section 5.1; 
 (2) to add to the covenants of the Company or any Subsidiary Guarantor for the benefit
of the Holders of the Notes or to surrender any right or power conferred upon the Company or any Subsidiary Guarantor, as applicable, in this Indenture, in the Notes or in any Subsidiary Guarantee; 

(3) to cure any ambiguity, or to correct or supplement any provision in this Indenture or in any supplemental
indenture, the Notes or any Subsidiary Guarantee which may be defective or inconsistent with any other provision in this Indenture, the Notes or any Subsidiary Guarantee; 

(4) to make any change that would provide any additional rights or benefits to the Holders of the Notes; 

(5) to make any other provisions with respect to matters or questions arising under this Indenture, the Notes
or any Subsidiary Guarantee; provided that, in each case, such provisions shall not adversely affect the interest of the Holders of the Notes in any material respect; 

(6) to comply with the requirements of the SEC in order to effect or maintain the qualification of this
Indenture under the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb), as amended; 
 (7)
to add a Subsidiary Guarantor under this Indenture or otherwise provide a Subsidiary Guarantee of the Notes; 

  
 103 

 (8) to evidence and provide the acceptance of the
appointment of a successor Trustee under this Indenture; 
 (9) to mortgage, pledge, hypothecate or grant a
security interest in favor of the Trustee for the benefit of the Holders of the Notes as additional security for the payment and performance of the Company’s and any Subsidiary Guarantor’s obligations under this Indenture, in any property,
or assets, including any of which are required to be mortgaged, pledged or hypothecated, or in which a security interest is required to be granted to the Trustee pursuant to this Indenture or otherwise; 

(10) to provide for the issuance of Additional Notes under this Indenture in accordance with the terms and
subject to the limitations set forth in this Indenture; 
 (11) to comply with the rules of any applicable
Depositary; or 
 (12) to conform the text of this Indenture, the Notes or the Subsidiary Guarantees to any
provision of the “Description of Notes” section of the Offering Memorandum to the extent such provision was intended to be a recitation of a provision of this Indenture, as confirmed in an Officer’s Certificate delivered to the
Trustee. 
 After an amendment under this Indenture becomes effective, the Company shall deliver to Holders of the Notes a
notice briefly describing such amendment. However, the failure to give such notice to all Holders, or any defect therein, will not impair or affect the validity of the amendment. The Trustee shall not be obligated to enter into any amendment and/or
supplemental indenture which affects its own rights, privileges, protections, powers, duties, indemnities or immunities under this Indenture or otherwise. 

SECTION 9.2. With Consent of Holders of Notes. With the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), the Company, the Subsidiary Guarantors and the Trustee
may amend or supplement this Indenture, the Notes or any Subsidiary Guarantees or waive any existing Default or Event of Default or compliance with any provision of this Indenture or the Notes; provided, however, that no such
amendment, supplement or waiver shall, without the consent of the Holder of each outstanding Note affected thereby (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes):

 (1) change the Stated Maturity of the principal of, or any installment of interest on, any Note; 

(2) reduce the principal amount of (or the premium), or interest on, any Note; 

(3) change the place or currency of payment of principal of (or premium), or interest on, any Note; 

(4) (i) modify, in any manner adverse to the Holders of the Notes, the right to institute suit for the
enforcement of any payment of principal of (or, premium) or interest on or with respect to any Note when due, or (ii) waive any payment in respect thereof 

  
 104 

 
except a default in payment arising solely from an acceleration of the Notes that has been rescinded; 

(5) modify any provisions of this Indenture relating to the modification and amendment of this Indenture or the
waiver of past defaults or covenants which require each Holder’s consent; 
 (6) amend any provisions
relating to the redemption of the Notes (other than notice provisions); 
 (7) reduce the amount payable upon
a Change of Control Offer or an offer following an Asset Disposition with the Excess Proceeds from any Asset Disposition or change the time or manner by which a Change of Control Offer or an offer following an Asset Disposition with the Excess
Proceeds from any Asset Disposition may be made or by which any such Note must be repurchased pursuant to a Change of Control Offer or an offer following an Asset Disposition with the Excess Proceeds from any Asset Disposition (other than any change
to the notice periods with respect to such redemptions or repayments), whether through an amendment or waiver of provisions in the covenants, definitions or otherwise, unless such amendment or waiver shall be in effect prior to the occurrence of a
Change of Control or the occurrence of the event giving rise to the repurchase of the Notes under Sections 4.10 and Section 4.13 

(8) modify the Subsidiary Guarantees in any manner adverse to the Holders, except in accordance with this
Indenture; or 
 (9) modify any of the provisions of this Indenture or the related definitions affecting the
ranking of the Notes. 
 It shall not be necessary for the consent of the Holders under this Section 9.2 to approve the
particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

SECTION 9.3. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a
consent to it by a Holder of a Note is a continuing consent by the Holder of the Note and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent
or waiver is not made on the Note. However, any such Holder of the Note or subsequent Holder of the Note may revoke the consent or waiver as to its Note or portion of its Note if the Trustee receives written notice of revocation before the date the
waiver, supplement or amendment becomes effective. When an amendment, supplement or waiver becomes effective in accordance with its terms, it thereafter binds every Holder. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give
their consent or take any other action described above or required or permitted to be taken to such amendment, supplement or waiver pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph,
those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or 

  
 105 

 
to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.4. Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment,
supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall authenticate new Notes that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment,
supplement or waiver. 
 SECTION 9.5. Trustee to Sign Amendments, Etc. The Trustee shall sign any amended or
supplemental indenture authorized pursuant to this Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities, indemnities or immunities of the Trustee. In signing or refusing to sign any amendment or
supplemental indenture, the Trustee shall be provided with and (subject to Section 7.1) shall be fully protected in relying upon an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amendment or
supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent thereto have been met or waived; provided that no such Opinion of Counsel shall be required to be delivered in connection with the execution
of any amendment or supplement entered into in connection with adding a Guarantor with a supplemental indenture in substantially the form attached hereto as Exhibit B or releasing a Guarantor pursuant to the terms of this Indenture. 

ARTICLE X 
 SUBSIDIARY GUARANTEES

 SECTION 10.1. Subsidiary Guarantees. 

(a) Each Subsidiary Guarantor hereby jointly and severally, fully and unconditionally guarantees the Notes and
obligations of the Company hereunder and thereunder, and guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee, that: (i) the principal of and premium, if any, and interest on the Notes shall be paid
in full when due, whether at Stated Maturity, by acceleration, call for redemption or otherwise, together with interest on the overdue principal, if any, and interest on any overdue interest, to the extent lawful, and all other obligations of the
Company to the Holders or the Trustee under this Indenture or the Notes shall be paid in full or performed, all in accordance with the terms hereof and thereof; and (ii) in case of any extension of time of payment or renewal of any Notes or of
any such other obligations, the same shall be paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. Each of the Subsidiary Guarantees shall be a
guarantee of payment and not of collection. 
 (b) Each Subsidiary Guarantor hereby agrees that its
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment 

  
 106 

 
against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. 

(c) Each Subsidiary Guarantor hereby waives the benefits of diligence, presentment, demand for payment, filing
of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company or any other Person, protest, notice and all demands whatsoever and covenants that the Subsidiary Guarantee
of such Subsidiary Guarantor shall not be discharged as to any Note or this Indenture except by complete performance of the obligations contained in such Note and this Indenture and such Subsidiary Guarantee. Each of the Subsidiary Guarantors hereby
agrees that, in the event of a Default in payment of principal or premium, if any, or interest on any Note, whether at its Stated Maturity, by acceleration, call for redemption, purchase or otherwise, legal proceedings may be instituted by the
Trustee on behalf of, or by, the Holder of such Note, subject to the terms and conditions set forth in this Indenture, directly against each of the Subsidiary Guarantors to enforce each such Subsidiary Guarantor’s Subsidiary Guarantee without
first proceeding against the Company or any other Subsidiary Guarantor. Each Subsidiary Guarantor agrees that if, after the occurrence and during the continuance of an Event of Default, the Trustee or any of the Holders are prevented by applicable
law from exercising their respective rights to accelerate the maturity of the Notes, to collect interest on the Notes, or to enforce or exercise any other right or remedy with respect to the Notes, such Subsidiary Guarantor shall pay to the Trustee
for the account of the Holders, upon demand therefor, the amount that would otherwise have been due and payable had such rights and remedies been permitted to be exercised by the Trustee or any of the Holders and any other amounts due and owing to
the Trustee under this Indenture. 
 (d) If any Holder or the Trustee is required by any court or otherwise
to return to the Company or any Subsidiary Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to the Company or any Subsidiary Guarantor, any amount paid by any of them to the Trustee or such Holder, the
Subsidiary Guarantee of each of the Subsidiary Guarantors, to the extent theretofore discharged, shall be reinstated in full force and effect. This paragraph (d) shall remain effective notwithstanding any contrary action which may be taken by
the Trustee or any Holder in reliance upon such amount required to be returned. This paragraph (d) shall survive the termination of this Indenture. 

(e) Each Subsidiary Guarantor further agrees that, as between each Subsidiary Guarantor, on the one hand, and
the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article VI for the purposes of the Subsidiary Guarantee of such Subsidiary Guarantor, notwithstanding any
stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any acceleration of such obligations as provided in Article VI, such obligations (whether or not due and
payable) shall forthwith become due and payable by each Subsidiary Guarantor for the purpose of the Subsidiary Guarantee of such Subsidiary Guarantor. 

(f) Each Subsidiary Guarantor that makes a payment for distribution under its Subsidiary Guarantee is entitled
upon payment in full of all guaranteed obligations under 

  
 107 

 
this Indenture to seek contribution from each other Subsidiary Guarantor in a pro rata amount of such payment based on the respective net assets of all the Subsidiary Guarantors at the
time of such payment in accordance with GAAP. 
 SECTION 10.2. Execution and Delivery of Guarantee. To evidence
its Subsidiary Guarantee set forth in Section 10.1, each Subsidiary Guarantor agrees that this Indenture or a supplemental indenture in substantially the form attached hereto as Exhibit B shall be executed on behalf of such Subsidiary
Guarantor by an Officer of such Subsidiary Guarantor (or, if an officer is not available, by a board member or director or other duly authorized signatory) on behalf of such Subsidiary Guarantor. Each Subsidiary Guarantor hereby agrees that its
Subsidiary Guarantee set forth in Section 10.1 shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Subsidiary Guarantee on the Notes. In case the Officer, board member or director of such
Subsidiary Guarantor whose signature is on this Indenture or supplemental indenture, as applicable, no longer holds office at the time the Trustee authenticates any Note, the Subsidiary Guarantee shall be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof as provided for hereunder, shall constitute due
delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the Subsidiary Guarantors. 

SECTION 10.3. Severability. In case any provision of any Subsidiary Guarantee shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 10.4. Limitation of Subsidiary Guarantors’ Liability. Each Subsidiary Guarantor and by
its acceptance hereof each Holder confirms that it is the intention of all such parties that the Subsidiary Guarantee of such Subsidiary Guarantor not constitute a prohibited distribution, fraudulent transfer or conveyance for purposes of the
Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions of its local law relating to fraudulent transfer or conveyance. To effectuate the foregoing intention,
the Trustee, the Holders and Subsidiary Guarantors hereby irrevocably agree that the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee shall be limited to the maximum amount that will not, after giving effect to all other
contingent and fixed liabilities of such Subsidiary Guarantor (including, without limitation, any guarantees under the Revolving Credit Agreement) and after giving effect to any collections from, rights to receive contribution from or payments made
by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under its Subsidiary Guarantee, result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee constituting a
prohibited distribution, fraudulent conveyance, fraudulent preference or fraudulent transfer or otherwise reviewable under applicable law. 

SECTION 10.5. Releases. A Subsidiary Guarantee of a Subsidiary Guarantor shall be automatically and
unconditionally released and discharged: 
 (a) in connection with any sale, transfer or other disposition of
all or substantially all of the assets of such Subsidiary Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) 

  
 108 

 
the Company or a Restricted Subsidiary, if the sale or other disposition does not violate Section 4.10; 

(b) in connection with any sale, transfer or other disposition of Capital Stock of such Subsidiary Guarantor
(including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if after such sale, transfer or disposition, the Subsidiary Guarantor would
cease to be a Restricted Subsidiary and the sale or other disposition does not violate Section 4.10; 

(c) upon the exercise by the Company of its Legal Defeasance option or its Covenant Defeasance option or the
satisfaction and discharge of this Indenture, in each case as provided under Article VIII; 
 (d) upon the
proper designation of such Subsidiary Guarantor by the Company as an Unrestricted Subsidiary in accordance with the terms of this Indenture; or 

(e) if such the Subsidiary Guarantor ceases to guarantee any Debt of the Company or a Subsidiary Guarantor
under, or be a borrower under, the Credit Facilities and no Event of Default has occurred and is continuing. 
 Upon
delivery to the Trustee of an Officer’s Certificate to the effect that all conditions precedent to the release of a Subsidiary Guarantor’s Subsidiary Guarantee set forth in this Indenture have been satisfied, the Trustee shall execute any
documents reasonably requested by the Company in writing in order to evidence the release of any Subsidiary Guarantor from its obligations under its Subsidiary Guarantee. 

Any Subsidiary Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full
amount of principal of and interest on the Notes and for the other obligations of any Subsidiary Guarantor under this Indenture as provided in this Article X. 

SECTION 10.6. Benefits Acknowledged. Each Subsidiary Guarantor acknowledges that it will receive direct and
indirect benefits from the financing arrangements contemplated by this Indenture and that its guarantee and waivers pursuant to its Subsidiary Guarantee are knowingly made in contemplation of such benefits. 

ARTICLE XI 
 MISCELLANEOUS 

SECTION 11.1. Notices. Any notice, request, direction, instruction or communication by the Company, any Subsidiary
Guarantor or the Trustee to the others is duly given if in writing and delivered in person or mailed by first class mail (registered or certified, return receipt requested), sent by electronic mail in PDF format (if receipt of such transmission is
confirmed by reply e-mail or telephonically), telecopier or overnight air courier guaranteeing next day delivery, to the addresses set forth below: 

If to the Company or any Subsidiary Guarantor: 

Playtika Holding Corp. 

  
 109 

 2225 Village Walk, Suite 240 

Henderson, Nevada 89052 

Attention: Legal Department 

With a copy (which shall not constitute notice) to: 

Latham & Watkins LLP 

650 Town Center Drive, 20th Floor 

Costa Mesa, CA 92626 

Facsimile: (714) 755-8290 

Attention: Michael A. Treska and Roderick O. Branch 

If to the Trustee: 

Wilmington Trust, National Association 

Rodney Square North, 

1100 North Market Street 

Wilmington, DE 19890 

Facsimile: (302) 636-4145 

Email: mwass@wilmingtontrust.com 

Attention: Playtika Holding Corp. Administrator 

The parties hereto, by written notice to the others, may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication to a Holder and the Trustee shall be mailed by first class mail or by
overnight air courier promising next Business Day delivery to its address shown on the register kept by the Registrar. Notwithstanding the foregoing, as long as the Notes are Global Notes, notices to be given to the Holders shall be given to the
Depositary in accordance with its applicable policies as in effect from time to time. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

If the Trustee is then acting as the Depositary’s custodian for the Notes, then, at the reasonable request of the Company
to the Trustee, the Trustee will cause any notice prepared by the Company to be sent to any Holder(s) pursuant to the procedures of the Depositary, provided that such request is evidenced in a Company Order delivered, together with the text
of such notice, to the Trustee at least two Business Days before the date such notice is to be so sent. For the avoidance of doubt, such Company Order need not be accompanied by an Officer’s Certificate or Opinion of Counsel. The Trustee will
not have any liability relating to the contents of any notice that it sends to any Holder pursuant to any such Company Order. 

In respect of this Indenture, the Trustee shall not have any duty or obligation to verify or confirm that the Person sending
instructions, directors, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directors, reports notices or other communications or information on behalf of
the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liability, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such
instructions directors, reports, notices or other communications or 

  
 110 

 
information. The Company and the Subsidiary Guarantors agree to assume all risks arising out of the use of electronic methods to submit instructions, directions, reports, notices or other
communications or indemnifications to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and the risks of interception and misuse by third
parties. 
 If a notice or communication is delivered in the manner provided above within the time prescribed, it is duly
given, whether or not the addressee receives it, except in the case of notices or communications given to the Trustee, which shall be effective only upon actual receipt. 

If the Company delivers a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same
time. 
 All notices or communications required to be made to a Holder pursuant to this Indenture must be made in writing
and will be deemed to be duly sent or given in writing if mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery, to its address shown on the Register;
provided, however, that a notice or communication to a Holder of a Global Note may, but need not, instead be sent pursuant to the procedures of the Depositary (in which case, such notice will be deemed to be duly sent or given in
writing). The failure to send a notice or communication to a Holder, or any defect in such notice or communication, will not affect its sufficiency with respect to any other Holder. All notices, approvals, consents, requests and any communications
hereunder must be in writing (provided that any communication sent to the Trustee hereunder must be in the form of a document that is signed manually or by way of a digital signature) in English, and signatures of the parties hereto
transmitted by facsimile, PDF or other electronic transmission (including any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) will constitute effective execution and delivery of this Indenture
as to the other parties hereto and will be deemed to be their original signatures for all purposes; provided, notwithstanding anything to the contrary set forth herein, the Trustee is under no obligation to agree to accept electronic
signatures in any form or format unless express agreed to by the Trustee pursuant to procedures approved by the Trustee. The Company agrees to assume all risks arising out of the use of using digital signatures and electronic methods to submit
communications to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties. 

SECTION 11.2. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company
to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee upon request: 

(a) an Officer’s Certificate in form satisfactory to the Trustee (which shall include the statements set
forth in Section 11.3) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; provided that no such Officer’s
Certificate shall be required to be delivered in connection with the issuance of the Notes that are issued on the Issue Date; and 

  
 111 

 (b) an Opinion of Counsel in form satisfactory to the
Trustee (which shall include the statements set forth in Section 11.3) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied; provided that no such Opinion of Counsel shall be
required to be delivered in connection with (x) the issuance of the Initial Notes that are issued on the Issue Date or (y) the execution of any amendment or supplement entered into in connection with adding a Guarantor in substantially the
form attached hereto as Exhibit B or releasing a Guarantor pursuant to the terms of this Indenture. 

SECTION 11.3. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to Section 4.4) shall include substantially: 

(a) a statement that the Person making such certificate or opinion has read and understands such covenant or
condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which
the statements or opinions contained in such certificate or opinion are based; 
 (c) a statement that, in
the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been
satisfied. 
 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officer’s Certificate or
on certificates of public officials. 
 SECTION 11.4. Rules by Trustee and Agents. The Trustee may make
reasonable rules for action by or at a meeting of Holders. Each of the Agents may make reasonable rules and set reasonable requirements for its functions. 

SECTION 11.5. No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or future
director, officer, employee, incorporator, stockholder, partner or member of the Company or any Subsidiary Guarantor, as such, will have any liability for any indebtedness, obligations or liabilities of the Company or of any Subsidiary Guarantor
(other than the Company in respect of the Notes and each Subsidiary Guarantor in respect of its Subsidiary Guarantee) under the Notes, the Subsidiary Guarantees or this Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes and the Subsidiary Guarantees. 

SECTION 11.6. Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. THE LAW OF THE STATE OF NEW
YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES AND THE RIGHTS AND DUTIES OF THE PARTIES THEREUNDER. Each of the parties to this Indenture 

  
 112 

 
each hereby irrevocably submits to the exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan in The City of New York in any action or proceeding
arising out of or relating to the Notes, the Subsidiary Guarantees or this Indenture, and all such parties hereby irrevocably agree that all claims in respect of such action or proceeding may be heard and determined in such New York State or federal
court and hereby irrevocably waive, to the fullest extent that they may legally do so, the defense of an inconvenient forum to the maintenance of such action or proceeding. EACH OF THE COMPANY, THE SUBSIDIARY GUARANTORS AND THE TRUSTEE HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED BY THIS INDENTURE OR THE
NOTES
 SECTION 11.7. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret
any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 11.8. Successors. All agreements of the Company and the Subsidiary Guarantors in this Indenture and the
Notes and the Subsidiary Guarantees, as applicable, shall bind their respective successors and assigns. All agreements of the Trustee in this Indenture shall bind its respective successors and assigns. 

SECTION 11.9. Severability; Entire Agreement. In case any provision in this Indenture or in the Notes shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby. This Indenture and the Exhibits hereto set forth the entire
agreement and understanding of the parties related to this transaction and supersede all prior agreements and understandings, written or oral. 

SECTION 11.10. Execution in Counterparts. This Indenture may be executed in any number of counterparts, which when
so executed each such counterpart shall together constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or other electronic (i.e., “.pdf” or “.tif”) transmission shall
constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or other electronic (i.e.,
“.pdf” or “.tif”) transmission shall be deemed to be their original signatures for all purposes. Except with respect to authentication of the Notes by the Trustee or an authenticating agent, the words “execution,”
“signed,” “signature,” “delivery” and words of like import in or relating to this Indenture or any document to be signed in connection with this Indenture 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,
provided that, notwithstanding anything herein to the contrary, the Trustee is not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by such Trustee pursuant to procedures
approved by such Trustee. 

  
 113 

 SECTION 11.11. Table of Contents, Headings, Etc. The Table of
Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any of the
terms or provisions hereof. 
 SECTION 11.12. Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing (or, with respect to Global Notes, otherwise
in accordance with the rules and procedures of the Depositary); and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of
any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 11.12. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved
(1) by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to
such officer the execution thereof or (2) in any other manner reasonably deemed sufficient by the Trustee. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit
shall also constitute sufficient proof of such signer’s authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee
deems sufficient. 
 (c) The ownership of Notes shall be proved by the register maintained by the Registrar
hereunder. 
 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done
by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Note. 

(e) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, by or pursuant to an Officer’s Certificate, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other Act, but the Company shall have no obligation to do so. If 

  
 114 

 
such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at
the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the outstanding Notes shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed
effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

(f) The Trustee may, but shall not be obligated to, set any day as a record date for the purpose of determining
the Holders entitled to join in the giving or making of (1) any notice of default under Section 6.1, (2) any declaration of acceleration referred to in Section 6.2, (3) any direction referred to in Section 6.5 or (4) any
request to pursue a remedy as permitted in Section 6.6. If any record date is set pursuant to this paragraph, the Holders on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction,
whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Notes or each affected Holder, as applicable, on such record date. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by
Holders and the applicable Expiration Date to be given to the Company and to each Holder in the manner set forth in Section 11.1. 

(g) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard to any
particular Note may do so with regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. Any
notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate Holders of each such different part. 

(h) Without limiting the generality of the foregoing, a Holder, including a Depositary that is the Holder of a
Global Note, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and a
Depositary that is the Holder of a Global Note may provide its proxy or proxies to the beneficial owners of interests in any such Global Note through such Depositary’s standing instructions and customary practices. 

(i) The Company may fix a record date for the purpose of determining the Persons who are beneficial owners of
interests in any Global Note held by a Depositary entitled under the procedures of such Depositary, if any, to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, given or taken by 

  
 115 

 
Holders; provided that if such a record date is fixed, only the beneficial owners of interests in such Global Note on such record date or their duly appointed proxy or proxies shall be
entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such beneficial owners remain beneficial owners of interests in such Global Note after such record date. No such
request, demand, authorization, direction, notice, consent, waiver or other action shall be effective hereunder unless made, given or taken on or prior to the applicable Expiration Date. 

(j) With respect to any record date set pursuant to this Section 11.12, the party hereto that sets such
record date may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new
Expiration Date is given to the other party hereto in writing, and to each Holder of Notes in the manner set forth in Section 11.1, on or prior to both the existing and the new Expiration Date. If an Expiration Date is not designated with
respect to any record date set pursuant to this Section 11.12, the party hereto which set such record date shall be deemed to have initially designated the 90th day after such record date as the Expiration Date with respect thereto, subject to
its right to change the Expiration Date as provided in this clause (j). 
 SECTION 11.13. Force Majeure. In no
event shall the Trustee or any Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, any
act or provision of any present or future law or regulation or governmental authority, fire, riots, floods, labor disputes, strikes, or work stoppages for any reason, embargoes, governmental actions, accidents, acts of war or terrorism, civil or
military disturbances, acts of civil or military authority or governmental actions, earthquakes, sabotage, nuclear or natural catastrophes or acts of God, epidemics or pandemics, interruptions, loss or malfunctions of utilities, communications or
computer (software and hardware) services or the unavailability of the Federal Reserve Bank wire, telex or other communication or wire facility, it being understood that the Trustee and each Agent shall use reasonable efforts which are consistent
with accepted practices in the U.S. banking industry to resume performance as soon as practicable under the circumstances. 

SECTION 11.14. Legal Holidays. If any payment date with respect to the Notes falls on a day that is not a Business
Day (a “Legal Holiday”), the payment to be made on such payment date will be made on the next succeeding Business Day with the same force and effect as if made on such payment date, and no additional interest will accrue solely as a result
of such delayed payment. If a regular record date is a Legal Holiday, the record date shall not be affected. 

SECTION 11.15. USA PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA
PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a
relationship or opens an account. The Company agrees that it will provide the Trustee with information about the Company as the Trustee may reasonably request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act. 

[Signature Pages Follow] 

  
 116 

 
					
	PLAYTIKA HOLDING CORP.
		
	 By:
	 	 /s/ Craig Abrahams

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 President and Chief Financial

		 		 	 Officer

  

  
 [Signature Page to
Indenture] 

 
			
	 DUNCAN VENTURES, LLC,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams

		 	 Name:    Craig Abrahams

		 	 Title:      Manager

  
 [Signature Page to
Indenture] 

 
			
	 HYPER MANIA LTD.,

as Guarantor

		
	 By:
	 	 /s/ Arik Sandler

		 	 Name:    Arik Sandler

		 	 Title:      Director

  
 [Signature Page to
Indenture] 

 
			
	 JELLY BUTTON GAMES LTD.,

as Guarantor

		
	 By:
	 	 /s/ Arik Sandler

		 	 Name:    Arik Sandler

		 	 Title:      Director

  
 [Signature Page to
Indenture] 

 
			
	 PLAYTIKA CHICAGO LLC,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams

		 	 Name: Craig Abrahams

		 	 Title: Manager

  
 [Signature Page to
Indenture] 

 
			
	 PLAYTIKA GROUP ISRAEL LTD.,

as Guarantor

		
	 By:
	 	 /s/ Arik Sandler

		 	 Name: Arik Sandler

		 	 Title: Director

  
 [Signature Page to
Indenture] 

 
			
	 PLAYTIKA LTD.,

as Guarantor

		
	 By:
	 	 /s/ Tian Lin

		 	 Name: Tian Lin

		 	 Title: Manager

  
 [Signature Page to
Indenture] 

 
					
	PLAYTIKA SANTA MONICA
	 HOLDINGS, LLC,

as Guarantor

		
	 By:
	 	 Playtika Holding Corp., its sole member

		
	 By:
	 	 /s/ Craig Abrahams

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 President and Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
					
	 PLAYTIKA SANTA MONICA, LLC,

as Guarantor

		
	 By:
	 	 Playtika Santa Monica Holdings, LLC, its sole member

		
	 By:
	 	 Playtika Holding Corp., its sole member

		
	 By:
	 	 /s/ Craig Abrahams

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 President and Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
					
	PSM COMPUTER SERVICES, LLC,
	 as Guarantor

		
	 By:
	 	 Playtika Santa Monica, LLC, its sole member

		
	 By:
	 	 Playtika Santa Monica Holdings, LLC, its sole member

		
	 By:
	 	 Playtika Holding Corp., its sole member

		
	 By:
	 	 /s/ Craig Abrahams 

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 President and Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
					
	 PLAYTIKA UK – HOUSE OF FUN LIMITED,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams 

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 Director

  
 [Signature Page to
Indenture] 

 
					
	 SERIOUSLY DIGITAL

	 ENTERTAINMENT, INC.,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams 

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 Director

  
 [Signature Page to
Indenture] 

 
					
	 SERIOUSLY HOLDING CORP.,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams 

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 President

  
 [Signature Page to
Indenture] 

 
					
	 SERIOUSLY PICTURES, LLC,

as Guarantor

		
	 By:
	 	 /s/ Craig Abrahams 

		 	 Name:
	 	 Craig Abrahams

		 	 Title:
	 	 Manager

  
 [Signature Page to
Indenture] 

 
					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION

as Trustee

		
	 By:
	 	     /s/ Michael H. Wass

	 Name:
	 	 Michael H. Wass

	 Title:
	 	 Vice President

  
 [Signature Page to
Indenture] 

 EXHIBIT A 

FORM OF NOTE 
 (Face of 4.250%
Senior Note) 
 4.250% Senior Notes due 2029 

[Global Note Legend] 
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT
IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [Restricted Notes Legend] 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR
OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS SIX MONTHS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE
COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A 

  
 A-1 

 
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT
THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT,
(E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.
THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER
THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”), OR SIMILAR PROVISIONS UNDER ANY OTHER U.S. OR NON-U.S. FEDERAL, STATE, LOCAL OR OTHER LAWS OR REGULATIONS (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED
TO INCLUDE “PLAN ASSETS” WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101 (AS MODIFIED BY SECTION 3(42) OF ERISA) OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION, HOLDING AND
DISPOSITION OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS 

[Regulation S Legend] 
 THIS SECURITY HAS NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD,
ASSIGNED, 

  
 A-2 

 
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS
SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION
DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS
OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S UNDER THE SECURITIES ACT) IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS
AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION
TERMINATION DATE. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S
UNDER THE SECURITIES ACT. 
 BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER
(1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. 

  
 A-3 

 
INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR SIMILAR PROVISIONS UNDER ANY OTHER U.S. OR NON-U.S. FEDERAL, STATE, LOCAL OR OTHER
LAWS OR REGULATIONS (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101 (AS MODIFIED BY
SECTION 3(42) OF ERISA) OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION, HOLDING AND DISPOSITION OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 

  
 A-4 

 No. 

CUSIP NO.1 

ISIN 
 Playtika Holding Corp.
(including any successor thereto) promises to pay to [Cede & Co.]2 or registered assigns, the principal sum of ________ [(as may be increased or decreased as set forth on the Schedule of
Increases and Decreases attached hereto)]3 on March 15, 2029. 
 Interest Payment
Dates: March 15 and September 15, beginning September 15, 2021 
 Record Dates: March 1 and September 1 (whether or
not a Business Day) 
 Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall
for all purposes have the same effect as set forth at this place. 
 Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose. 

 
  

	1 	 Rule 144A Note CUSIP: 72815L AA5 

Rule 144A Note ISIN: US72815LAA52 

Regulation S Note CUSIP: U7265L AA3 

Regulation S Note ISIN: USU7265LAA36 

	2 	 For Global Notes only. 

	3 	 For Global Notes only. 

  
 A-5 

 
			
	 PLAYTIKA HOLDING CORP.

			
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-6 

 TRUSTEE CERTIFICATE OF AUTHENTICATION 

This is one of the Notes referred to in the within-mentioned Indenture: 

 

			
	 WILMINGTON TRUST,

NATIONAL ASSOCIATION, as

Trustee

 
			
		
	 By:
	 	  

		 	 Authorized Signatory

 Dated: 

  
 A-1 

 (Back of 4.250% Senior Note) 

4.250% Senior Notes due 2029 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 (1) Interest. Playtika Holding Corp., a Delaware corporation, and any successor thereto (the
“Company”) promises to pay interest on the unpaid principal amount of this 4.250% Senior Note due 2029 (a “Note”) at a fixed rate of 4.250% per annum. The Company will pay interest in U.S. dollars semiannually in
arrears on March 15 and September 15, commencing on ________4 (each an “Interest Payment Date”) or if any such day is not a Business Day, on the next succeeding Business
Day with the same force and effect as if made on such Interest Payment Date, and no additional interest shall accrue solely as a result of such delayed payment. Interest on the Notes shall accrue from the most recent date to which interest has been
paid, or, if no interest has been paid, from and including the date of issuance. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then
applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), at
the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 

(2) Method of Payment. The Company will pay interest on the Notes (except defaulted interest) on the applicable
Interest Payment Date to the Persons who are registered Holders at the close of business on the March 1 and September 1 preceding the Interest Payment Date (whether or not a Business Day), even if such Notes are cancelled after such record
date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. If a Holder having an aggregate principal amount of more than $5,000,000 has given written wire transfer
instructions to that holder’s U.S. dollar account within the United States to the Trustee at least ten Business Days prior to the applicable Interest Payment Date, the Company will make all payments of principal, premium and interest, on such
Holder’s Notes by wire transfer of immediately available funds to the account specified in those instructions. Otherwise, payments on the Notes will be paid by check mailed to the Holders at their addresses set forth in the register of Holders.
Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

Any payments of principal of this Note prior to Stated Maturity shall be binding upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. The final principal amount due and payable at the maturity of this Note shall be payable only upon presentation and
surrender of this Note at an office of the Trustee or the Trustee’s agent appointed for such purposes. Payments in respect of Global Notes will be made by wire transfer of immediately available funds to the Depositary. 

 
  

	4 	 To be filled in global note. 

  
 A-2 

 (3) Paying Agent and Registrar. Initially, Wilmington Trust, National
Association shall act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder, and the Company and/or any Restricted Subsidiaries may act as Paying Agent or Registrar. 

(4) Indenture. The Company issued the Notes under an Indenture, dated as of March 11, 2021 (the
“Indenture”), among the Company, the Subsidiary Guarantors thereto and the Trustee. The terms of the Notes include those stated in the Indenture. To the extent the provisions of this Note are inconsistent with the provisions of the
Indenture, the Indenture shall govern. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. The Initial Notes issued on the Issue Date were initially issued in an aggregate principal
amount of $600,000,000. The Indenture permits the issuance of Additional Notes subject to compliance with certain conditions. 

The payment of principal, interest on the Notes and all other amounts under the Indenture is unconditionally guaranteed,
jointly and severally, on a senior unsecured basis by the Subsidiary Guarantors. 
 (5) Optional Redemption. 

(a) The Notes may be redeemed, in whole or in part, at any time or from time to time prior to March 15,
2024 at the option of the Company, at a redemption price equal to 100.0% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest thereon, if any to, but excluding, the applicable redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 

(b) At any time or from time to time on or after March 15, 2024, the Company, at its option, may redeem
the Notes in whole or in part at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, together with accrued and unpaid interest thereon, if any, to, but excluding, the applicable
redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the 12-month period beginning on
March 15 of the years indicated below: 
  

					
	 Year
	  	Redemption Price	 
	 2023
	  	 	102.125	% 
	 2024
	  	 	101.063	% 
	 2025 and thereafter
	  	 	100.000	% 

 (c) In the event that on or prior to March 15, 2024, the Company receives
net cash proceeds from the sale of its Common Stock in one or more Equity Offerings, the Company may use an amount not greater than the amount of such net cash proceeds to redeem up to 40.0% of the original aggregate principal amount of all Notes
issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price of 104.250% of the principal amount thereof, plus accrued and unpaid interest, if any, to but excluding, the applicable redemption date (subject to the
rights of Holders of Notes on 

  
 A-3 

 
the relevant regular record date to receive interest due on the relevant interest payment date that is on or prior to the applicable redemption date); provided that: 

(1) at least 50.0% of the aggregate principal amount of Notes issued on the Issue Date remains outstanding
immediately after giving effect to each such redemption; and 
 (2) the redemption occurs not more than 90
days after the date of the closing of any such Equity Offering. 
 (d) If Holders of not less than 90.0% in
aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in connection with any tender offer or other offer to purchase the Notes (including pursuant to a Change of Control Offer, Alternate Offer or an offer
to purchase with the proceeds from any Asset Disposition) and the Company, or any other Person making such offer in lieu of the Company, purchases all of the Notes validly tendered and not validly withdrawn by such Holders, the Company will have the
right, upon not less than ten nor more than 60 days’ prior notice, to redeem all Notes that remain outstanding following such purchase and the Holders of such remaining Notes shall be deemed to have consented to surrender their Notes at a
redemption price in cash equal to the applicable price paid to Holders in such purchase, plus accrued and unpaid interest, if any, to but excluding the redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on an interest payment date that is on or prior to the date of redemption). 
 (6) Offer to Purchase upon
Change of Control. 
 (a) Upon the occurrence of a Change of Control, the Company may be required to
offer to repurchase all or any part of each Holder’s Notes pursuant to a Change of Control Offer on terms set forth in the Indenture. 

(b) Upon the occurrence of certain Asset Dispositions, the Company may be required to offer to purchase Notes
as provided in the Indenture. 
 (c) Holders of the Notes that are the subject of an offer to purchase will
receive notice of an Offer to Purchase pursuant to Section 4.10 of the Indenture or the Change of Control Offer, as applicable, from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the
form titled “Option of Holder to Elect Purchase” attached hereto. 
 (7) Notice of Redemption. Notice of
redemption shall be delivered at least ten (10) days but not more than sixty (60) days before the redemption date (except that notices may be delivered more than sixty (60) days before an expected redemption date if the notice is
issued in accordance with Article VIII of the Indenture) to each Holder whose Notes are to be redeemed in accordance with Section 11.1 of the Indenture (with a copy to the Trustee). Notices of redemption may be subject to conditions
precedent as set forth in the Indenture. Notes in denominations larger than $2,000 may be redeemed in part so long as no partial redemption results in a Note having a principal amount of less than $2,000. 

  
 A-4 

 (8) Denominations, Transfer, Exchange. The Notes are in registered
form without coupons in initial minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Registrar, the Trustee
and the Company may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Holders will be required to pay all taxes due on transfer (except as otherwise provided in the Indenture). The Registrar is
not required (A) to issue, to register the transfer of or to exchange Notes during a period beginning at the opening of 15 days before the day of any selection of Notes for redemption and ending at the close of business on the day of such
selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part, or (C) to register the transfer of or to exchange a Note
between a record date and the next succeeding Interest Payment Date. 
 (9) Persons Deemed Owners. The registered
Holder of a Note may be treated as its owner for all purposes. 
 (10) Amendment, Supplement and Waiver. The
Indenture, the Notes and the Subsidiary Guarantees may be amended or supplemented as provided in the Indenture. 
 (11)
Defaults and Remedies. The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. Upon the occurrence of an Event of Default, the rights and obligations of the Company, the Subsidiary Guarantors, the
Trustee and the Holders shall be as set forth in the applicable provisions of the Indenture. 
 (12) No Recourse Against
Others. No director, officer, employee, incorporator, stockholder, partner or member of the Company or any Subsidiary Guarantor, as such, will have any liability for any indebtedness, obligations or liabilities of the Company or of any
Subsidiary Guarantor (other than the Company in respect of the Notes and each Subsidiary Guarantor in respect of its Subsidiary Guarantee) under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes and the Subsidiary Guarantees, to the extent
permitted by applicable law. 
 (13) Authentication. This Note shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent. 
 (14) Abbreviations. Customary abbreviations may be used in the
name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gifts to
Minors Act). 
 (15) CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP and ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN numbers in notices of redemption as a convenience to the Holders. No representation is made as to
the 

  
 A-5 

 
accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

The Company shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made
to: 
 Playtika Holding Corp. 

2225 Village Walk, Suite 240 

Henderson, Nevada 89052 

Attention: Legal Department 

  
 A-6 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint 
  

 
 to transfer this Note on the books of
the Company. The agent may substitute another to act for him. 
 Date:
                 
  

			
	 Your Signature :
	 	  

		 	 (Sign exactly as your name

		 	 appears on the face of this Note)

 Signature guarantee: 

  
 A-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.13 of the Indenture, check
the box below: 
 [    ] Section 4.10         [    ]
Section 4.13 
 If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or 4.13 of the Indenture, state the amount you elect to have purchased: $______________ 
 Date: 

 

			
	 Your Signature :
	 	  

		 	 (Sign exactly as your name

		 	 appears on the face of this Note)

 Tax Identification No.: 

Signature guarantee: 

  
 A-8 

 [INCLUDE IN TRANSFER RESTRICTED NOTES] 

CERTIFICATE TO BE DELIVERED UPON 

EXCHANGE OF TRANSFER RESTRICTED NOTES 

Playtika Holding Corp. 
 2225
Village Walk, Suite 240 
 Henderson, Nevada 89052 

Attention: Legal Department 

Wilmington Trust, National Association 

Rodney Square North, 
 1100 North
Market Street 
 Wilmington, DE 19890 

Attention: Playtika Holding Corp. Administrator 

Re: 4.250% Senior Notes due 2029 CUSIP NO. ________ 

Reference is hereby made to that certain Indenture dated March 11, 2021 (the “Indenture”) among Playtika
Holding Corp. (the “Company”), the guarantors named therein, and Wilmington Trust, National Association, as trustee (the “Trustee”). Capitalized terms used but not defined herein shall have the meanings set forth in
the Indenture. 
 This certificate relates to $______ principal amount of Notes held in (check applicable space) ___________
book-entry or ____________ definitive form by the undersigned. 
 In connection with any transfer of any of the Notes
evidenced by this certificate occurring prior to the expiration of the Resale Restriction Termination Date, the undersigned confirms that such Notes are being transferred as follows: 

CHECK ONE BOX BELOW: 
  

	(1) ☐ 	 to the Company or any of its subsidiaries; or 

 

	(2) ☐ 	 inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act of 1933, as amended) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A under the Securities Act of 1933, as
amended, in each case pursuant to and in compliance with Rule 144A thereunder; or 

  

	(3) ☐ 	 transferred pursuant to an effective registration statement under the Securities Act of 1933, as amended
(the “Securities Act”); or 

  

	(4) ☐ 	 outside the United States in an offshore transaction within the meaning of Regulation S under the Securities
Act, in compliance with Rule 904 thereunder; or 

  
 A-9 

	(5) ☐ 	 transferred to an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2),
(3) or (7) under the Securities Act), that has furnished to the Trustee a signed letter containing certain representations and agreements (the form of which letter appears as Exhibit D of the Indenture); or 

 

	(6) ☐ 	 transferred pursuant to another available exemption from the registration requirements under the Securities
Act. 

 Unless one of the boxes is checked, the Registrar will refuse to register any of the Notes
evidenced by this certificate in the name of any person other than the registered Holder thereof; provided, however, that if box (4), (5) or (6) is checked, the Trustee or the Company may require, prior to registering any such
transfer of the Securities, the delivery of an opinion of counsel, certification and/or other information satisfactory to each of them to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act, such as the exemption provided by Rule 144 under such Act. 
  

	
	  

	Signature

  

			
	 Signature Guarantee: 
	  	  

		  	 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

  
 TO BE COMPLETED BY PURCHASER IF
(2) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion and that each of it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended
(“Rule 144A”), and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has
determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

 

	
	 [Name of Transferee]

	
	  

	 NOTICE: To be executed by an executive officer, if an entity

 Dated:
                                         
                                    

  
 A-10 

 SCHEDULE OF INCREASES AND DECREASES IN GLOBAL NOTE 

The initial principal amount of this Global Note is $__________. The following increases or decreases in the principal amount of this Global
Note have been made: 
  

									
	 Date of Transfer,
 Exchange or

Redemption
	  	Amount of
Decrease in
Principal Amount of
this Global Note	  	Amount of Increase
in Principal Amount
of this Global Note	  	Principal Amount of
this Global Note
Following Such
Decrease (or
Increase)	  	Signature of
Authorized
Signatory of Trustee
or Note Custodian

  
 A-11 

 EXHIBIT B 

[FORM OF [        ] SUPPLEMENTAL INDENTURE TO BE DELIVERED 

BY SUBSEQUENT SUBSIDIARY GUARANTORS] 

This [        ] Supplemental Indenture and Subsidiary Guarantee, dated as of
_____________, 20 (this “Supplemental Indenture” or “Subsidiary Guarantee”), among ____________ (the “New Guarantor”), Playtika Holding Corp. (together with its successors and assigns, the
“Company”) and Wilmington Trust, National Association, as Trustee (in such capacity, the “Trustee”), paying agent and registrar under such Indenture. 

W I T N E S S E T H: 

WHEREAS, the Company, the Subsidiary Guarantors and the Trustee have heretofore executed and delivered an Indenture, dated as
of March 11, 2021 (as amended, supplemented, waived or otherwise modified, the “Indenture”), providing for the issuance of an unlimited aggregate principal amount of 4.250% Senior Notes due 2029 of the Company (the
“Notes”); 
 WHEREAS, Section 4.15 of the Indenture provides that in certain circumstances the Company
may be required to cause certain Restricted Subsidiaries of the Company to execute and deliver a Guarantee with respect to the Notes on the same terms and conditions as those set forth in the Indenture. 

WHEREAS, pursuant to Section 9.1 of the Indenture, the Trustee and the Company are authorized to execute and deliver this
Supplemental Indenture to amend the Indenture, without the consent of any Holder to add an additional Subsidiary Guarantor. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the New Guarantor, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE I 
 Definitions 

SECTION 1.1 Defined Terms. As used in this Supplemental Indenture, capitalized terms defined in the Indenture or in the
preamble or recitals thereto are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a
whole and not to any particular section hereof. 
 ARTICLE II 

Agreement to be Bound; Guarantee 

SECTION 2.1 Agreement to be Bound. The New Guarantor hereby becomes a party to the Indenture as a Subsidiary Guarantor
and as such shall have all of the rights and be subject to all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. The New Guarantor agrees to be bound by all of the provisions of the Indenture applicable to a Subsidiary

  
 B-1 

 
Guarantor and to perform all of the obligations and agreements of a Subsidiary Guarantor under the Indenture, subject to the release provisions and other limitations set forth in the Indenture.

 ARTICLE III 
 Miscellaneous

 SECTION 3.1 Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with,
the laws of the State of New York. 
 SECTION 3.2 Severability Clause. In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 SECTION 3.3 Ratification of Indenture; Supplemental Indentures Part of
Indenture; No Liability of Trustee. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder of a Note heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity or sufficiency of
this Supplemental Indenture or the New Guarantor’s Subsidiary Guarantee. Additionally, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which
recitals or statements are made solely by the Company, the New Guarantor and the Subsidiary Guarantors, and the Trustee makes no representation with respect to any such matters. 

SECTION 3.4 Counterparts. This Supplemental Indenture may be executed in any number of counterparts, which when so
executed each such counterpart shall together constitute one and the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or other electronic (i.e., “.pdf” or “.tif”)
transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or
other electronic (i.e., “.pdf” or “.tif”) transmission shall be deemed to be their original signatures for all purposes. 

SECTION 3.5 Headings. The headings of the Articles and the sections in this Subsidiary Guarantee are for convenience of
reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 
 [Signatures on
Following Page] 

  
 B-2 

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

			
	PLAYTIKA HOLDING CORP.
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	[NEW GUARANTOR],
	 as a Guarantor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	 as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 B-3 

 EXHIBIT C 

[FORM OF CERTIFICATE TO BE DELIVERED 

IN CONNECTION WITH TRANSFERS PURSUANT TO REGULATION S] 

Playtika Holding Corp. 
 2225
Village Walk, Suite 240 
 Henderson, Nevada 89052 

Attention: Legal Department 

Wilmington Trust, National Association 

Rodney Square North, 
 1100 North
Market Street 
 Wilmington, DE 19890 

Attention: Playtika Holding Corp. Administrator 

Re: Playtika Holding Corp. (the “Company”) 4.250% Senior Notes due 2029 (the “Notes”) 

Ladies and Gentlemen: 

In connection with our proposed sale of $______________ aggregate principal amount of the Notes (CUSIP No._______________), we
confirm that such sale has been effected pursuant to and in accordance with Regulation S (“Regulation S”) under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent
that: 
 (1) the offer of the Notes was not made to a person in the United States; 

(2) either (a) at the time the buy order was originated, the transferee was outside the United States or we and any person
acting on our behalf reasonably believed that the transferee was outside the United States or (b) the transaction was executed in, on or through the facilities of a designated off-shore securities market
and neither we nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 

(3) no directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(b) or Rule
904(b) of Regulation S, as applicable; and 
 (4) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act. 
 In addition, if the sale is made during a restricted period and the provisions of
Rule 903(b) or Rule 904(b) of Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b) or Rule 904(b), as the case may be. 

The Company and you are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy
hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S. 

  
 C-1 

 
			
	 Very truly yours,

	
	  
 [Name of
Transferor]

		
	 By:
	 	  

		 	 Authorized Signature

  
 C-2 

 EXHIBIT D 

[FORM OF CERTIFICATE TO BE DELIVERED 

IN CONNECTION WITH TRANSFERS TO IAIs] 

Playtika Holding Corp. 
 2225
Village Walk, Suite 240 
 Henderson, Nevada 89052 

Attention: Legal Department 

Wilmington Trust, National Association 

Rodney Square North, 
 1100 North
Market Street 
 Wilmington, DE 19890 

Attention: Playtika Holding Corp. Administrator 

Re: Playtika Holding Corp. (the “Company”) 4.250% Senior Notes due 2029 (the “Notes”) 

Ladies and Gentlemen: 

This certificate is delivered to request a transfer of $_____________ principal amount of the Notes. 

Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 

 

					
	                   
	 	
Name:                      
                                         
                     
	 	
			
		 	
Address:                     
                                         
                  
	 	
			
		 	 Taxpayer ID
Number:                                        
                    
	 	

 The undersigned represents and warrants to you that: 

1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of
1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Securities, and we are acquiring the
Notes not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risk of our
investment in the Notes, and we invest in or purchase securities similar to the Notes in the normal course of our business. We and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

2. We understand that the Notes have not been registered under the Securities Act (or the securities laws of any state or other jurisdiction)
and, unless so registered, may not be reoffered, sold, assigned, transferred, pledged, encumbered or otherwise disposed of except as permitted in the following sentence. We agree on our own behalf and on behalf of any

  
 D-1 

 
investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is one year after the later of the date of original issue, the original
issue date of any additional Notes and the last date on which the Company or any affiliate of the Company was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) to the
Company or any of its subsidiaries, (b) pursuant to a registration statement that has been declared effective under the Securities Act, (c) for so long as the Securities are eligible for resale pursuant to Rule 144A under the Securities
Act, in a transaction complying with the requirements of Rule 144A under the Securities Act, to a person we reasonably believe is a “qualified institutional buyer” under Rule 144A under the Securities Act (a
“QIB”) that is purchasing for its own account or for the account of a QIB and to whom notice is given that the transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the United
States to non-U.S. persons, in compliance with Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or
(7) under the Securities Act that is not a QIB and is purchasing for its own account or for the account of another institutional “accredited investor,” in each case in a minimum principal amount of Securities of $250,000, for
investment purposes and not with a view to or for offer or sale in connection with any distribution in violation of the Securities Act or (f) pursuant to any other available exemption from the registration requirements of the Securities Act,
subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all times within our or their control and in compliance with any applicable state
securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause (e) above prior to the Resale
Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and Wilmington Trust, National Association, as trustee (the “Trustee”), which shall
provide, among other things, that the transferee is an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act) and that it is acquiring such Securities for investment
purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right prior to any offer, sale or other transfer prior to the Resale Restriction Termination Date of the
Notes pursuant to clause (d), (e) or (f) above to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Company and the Trustee. 

3. We [are] [are not] an affiliate of the Company. 

  
 D-2 

 The Trustee and the Company are entitled to rely upon this letter and are irrevocably
authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 

 

			
	 Very truly yours,

	
	  
 [Name of
Transferor]

		
	 By:
	 	  

		 	 Authorized Signature

  
 D-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}]]