Document:

DIP Term Loan Guarantee Agreement

 Exhibit 10.7 

EXECUTION VERSION 
  

 
 GUARANTEE AGREEMENT 

dated and effective as of 

April 15, 2014 
 among 

MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC., 

MOMENTIVE PERFORMANCE MATERIALS INC., 

MOMENTIVE PERFORMANCE MATERIALS USA INC., 

each of the Subsidiary Loan Parties identified herein, 

and 
 JPMORGAN CHASE BANK, N.A.,

 as Administrative Agent 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 ARTICLE I Definitions
	  	 	2	  
			
	 Section 1.01.
	 	Credit Agreement	  	 	2	  
			
	 Section 1.02.
	 	Other Defined Terms	  	 	2	  
		
	 ARTICLE II Guarantee
	  	 	3	  
			
	 Section 2.01.
	 	Guarantee	  	 	3	  
			
	 Section 2.02.
	 	Guarantee of Payment	  	 	3	  
			
	 Section 2.03.
	 	No Limitations, Etc	  	 	4	  
			
	 Section 2.04.
	 	Reinstatement	  	 	6	  
			
	 Section 2.05.
	 	Agreement to Pay; Contribution; Subrogation	  	 	6	  
			
	 Section 2.06.
	 	Information	  	 	7	  
			
	 Section 2.07.
	 	Maximum Liability	  	 	7	  
		
	 ARTICLE III Indemnity, Subrogation and Subordination
	  	 	7	  
			
	 Section 3.01.
	 	Indemnity	  	 	7	  
			
	 Section 3.02.
	 	Contribution and Subrogation	  	 	8	  
			
	 Section 3.03.
	 	Subordination; Subrogation	  	 	8	  
		
	 ARTICLE IV Miscellaneous
	  	 	10	  
			
	 Section 4.01.
	 	Notices	  	 	10	  
			
	 Section 4.02.
	 	Limitation By Law	  	 	10	  
			
	 Section 4.03.
	 	Binding Effect; Several Agreement	  	 	10	  
			
	 Section 4.04.
	 	Successors and Assigns	  	 	11	  
			
	 Section 4.05.
	 	Administrative Agent’s Fees and Expenses; Indemnification	  	 	11	  
			
	 Section 4.06.
	 	Waivers; Amendment	  	 	12	  
			
	 Section 4.07.
	 	Severability	  	 	12	  
			
	 Section 4.08.
	 	Counterparts	  	 	12	  
			
	 Section 4.09.
	 	Headings	  	 	13	  
			
	 Section 4.10.
	 	Applicable Law; Jurisdiction; Venue; Consent to Service of Process	  	 	13	  
			
	 Section 4.11.
	 	Termination or Release	  	 	13	  
			
	 Section 4.12.
	 	Additional Guarantors	  	 	13	  
			
	 Section 4.13.
	 	Right of Set-Off	  	 	14	  

  
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	Schedules	  	
		
	Schedule I	  	Subsidiary Loan Parties
		
	Exhibits	  	
		
	Exhibit I	  	Form of Supplement to the Guarantee Agreement

  
 ii 

 This GUARANTEE AGREEMENT, dated and effective as of April 15, 2014 (as
amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is among MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC., a Delaware corporation (“Holdings”), MOMENTIVE
PERFORMANCE MATERIALS INC., a Delaware corporation (“Intermediate Holdings”), MOMENTIVE PERFORMANCE MATERIALS USA INC., a Delaware corporation (the “Borrower”), each other Subsidiary of Intermediate
Holdings identified herein as a party and JPMORGAN CHASE BANK, N.A. (“JPMorgan”), as administrative agent and collateral agent (together with its successors and assigns, in such capacity, the “Administrative
Agent”) for the Secured Parties (as defined below). 
 PRELIMINARY STATEMENT 

Reference is made to the Senior Secured Debtor-in-Possession Term Loan Agreement, dated as of the date hereof (as amended, restated,
supplemented, waived or otherwise modified from time to time, the “Credit Agreement”), among Holdings, Intermediate Holdings, the Borrower, the Lenders from time to time party thereto, JPMorgan, as administrative agent for
the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”) and as Collateral Agent, and the other parties named therein. 

The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The
obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. The Subsidiary Loan Parties are affiliates of the Borrower, will derive substantial benefits from the extension
of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. 

 Now therefore, in consideration of the mutual covenants and agreements of the parties and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby agree as follows: 

ARTICLE I  

Definitions 

Section 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined
herein have the respective meanings assigned thereto in the Credit Agreement. 
 (b) The rules of construction specified in
Section 1.02 of the Credit Agreement also apply to this Agreement. 
 Section 1.02. Other Defined Terms.
As used in this Agreement, the following terms have the meanings specified below: 
 “Administrative Agent”
has the meaning assigned to such term in the introductory paragraph of this Agreement. 
 “Agreement” has the
meaning assigned to such term in the introductory paragraph of this Agreement. 
 “Borrower” has the meaning
assigned to such term in the introductory paragraph of this Agreement. 
 “Claiming Guarantor” has the meaning
assigned to such term in Section 3.02. 
 “Collateral” means the collateral defined in or charged or otherwise
secured by each of the Security Documents. 
 “Contributing Guarantor” has the meaning assigned to such term in
Section 3.02. 
 “Credit Agreement” has the meaning assigned to such term in the preliminary statement of this
Agreement. 
 “Guaranteed Obligations” means: 

(i) in the case of the Borrower, the Obligations of the Loan Parties in respect of any Ancillary Agreement; and 

(ii) in the case of each of the Guarantors (other than the Borrower), (A) the Obligations of the Borrower and (B) the
Obligations of the Loan Parties (other than such Guarantor) in respect of any Ancillary Agreement; 
 in each case, other than, with respect
to any Guarantor, any Excluded Swap Obligations of such Guarantor (whether at stated maturity, by acceleration or otherwise). 

  
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 “Guarantors” means Holdings, Intermediate Holdings, the Borrower and each
of the Subsidiary Loan Parties set forth on Schedule I and any additional Subsidiary Loan Party that becomes a party hereto pursuant to Section 4.12. 

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

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

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

“Post-Petition Interest” has the meaning assigned to such term in Section 3.03(a)(ii). 

“Subordinated Obligations” has the meaning assigned to such term in Section 3.03. 

“Subsidiary Loan Party” means each Subsidiary set forth on Schedule I, and any Subsidiary that becomes a party
hereto pursuant to Section 4.12. 
 “Supplement” has the meaning assigned to such term in Section 4.12.

 ARTICLE II  

Guarantee 

Section 2.01. Guarantee. Each Guarantor unconditionally and irrevocably guarantees, jointly with the other
Guarantors and severally, to the Administrative Agent, for the ratable benefit of the Secured Parties, as a primary obligor and not merely as a surety, the due and punctual payment and performance of its Guaranteed Obligations. Each Guarantor
further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal of any Guaranteed
Obligation. Each Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Loan Party of any of the Guaranteed Obligations, and also waives notice of acceptance of its guarantee and notice of protest for
nonpayment. 
 Section 2.02. Guarantee of Payment. Each Guarantor further agrees that its guarantee
hereunder constitutes a guarantee of payment when due (whether at the stated maturity, by acceleration or otherwise) and not of collection, and waives any right to require that any resort be had by the Administrative Agent or any other Secured Party
to any security held for the payment of the Guaranteed Obligations or to any balance of any deposit account or credit on the books of the Administrative Agent or any other Secured Party in favor of the Borrower or any other person. 

  
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 Section 2.03. No Limitations, Etc. (a) Except for termination or release
of a Guarantor’s obligations hereunder as expressly provided for in Section 4.11 and except for the limitations set forth in Section 2.07 or, with respect to any Subsidiary Loan Party that becomes a party hereto pursuant to
Section 4.12 or otherwise, in any Supplement to this Agreement, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise (other
than defense of payment or performance). Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder, to the fullest extent permitted by applicable law, shall not be discharged or impaired or otherwise affected by,
and each Guarantor hereby waives any defense to the enforcement hereof by reason of: 
 (i) the failure of the Administrative
Agent or any other Secured Party to assert any claim or demand or to exercise or enforce any right or remedy under the provisions of any Loan Document or otherwise; 

(ii) any rescission, waiver, amendment or modification of, increase in the Guaranteed Obligations with respect to, or any
release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; 

(iii) the failure to perfect any security interest in, or the exchange, substitution, release or any impairment of, any
security held by the Administrative Agent or any other Secured Party for the Guaranteed Obligations; 
 (iv) any default,
failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; 
 (v) any other act or omission
that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash or immediately available funds of all the
Guaranteed Obligations); 
 (vi) any illegality, lack of validity or enforceability of any Guaranteed Obligation or the
Credit Agreement or any other Loan Document or any Ancillary Agreement; 
 (vii) any change in the corporate existence,
structure or ownership of any Loan Party, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting a Loan Party or its assets or any resulting release or discharge of any Guaranteed Obligation; 

  
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 (viii) the existence of any claim, set-off or other rights that a Guarantor may
have at any time against the Borrower, the Administrative Agent, or any other corporation or person, whether in connection herewith or any unrelated transactions, provided that nothing herein will prevent the assertion of any such claim by
separate suit or compulsory counterclaim; 
 (ix) any action permitted or authorized hereunder; or 

(x)(A) any other circumstance (including, without limitation, any statute of limitations, law, regulation, decree or order of
any jurisdiction) or (B) any existence of or reliance on any representation by the Administrative Agent, in each case, that might otherwise constitute a defense to, or a legal or equitable discharge of, the Borrower or any Guarantor for its
Guaranteed Obligations or any other guarantor or surety. 
 Each Guarantor expressly authorizes the Secured Parties to take and hold security for the
payment and performance of the Guaranteed Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole
discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Guaranteed Obligations, all without affecting the obligations of any Guarantor hereunder. 

(b) To the fullest extent permitted by applicable law, each Guarantor waives diligence, promptness, presentment, protest and notice of
protest, demand for payment or performance, notice of default or nonpayment, notice of acceptance and any other notice with respect to the Guaranteed Obligations or any part of them to or upon the Borrower or any Guarantor with respect to the
Guaranteed Obligations, any defense based on or arising out of disability or any defense of any other Loan Party or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the
liability of any other Loan Party, other than the payment in full in cash or immediately available funds of all the Guaranteed Obligations (other than contingent or unliquidated obligations or liabilities). The Administrative Agent and the other
Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the
Guaranteed Obligations, make any other accommodation with any other Loan Party or exercise any other right or remedy available to them against any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder
except to the extent the Guaranteed Obligations (other than contingent or unliquidated obligations or liabilities) have been paid in full in cash or immediately available funds. To the fullest extent permitted by applicable law, each Guarantor
waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against any other
Loan Party, as the case may be, or any security. 

  
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 (c) Each Guarantor shall remain obligated hereunder notwithstanding that, without
any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Guaranteed Obligations made by the Administrative Agent or any Secured Party may be rescinded by the
Administrative Agent or such Secured Party and any of the Guaranteed Obligations continued, and the Guaranteed Obligations, or the liability of any other person upon or for any part thereof, or any Collateral or guarantee therefor or right of offset
with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent or any Secured Party, and the Credit Agreement and the
other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent (or the Required Lenders or all Lenders, as the case
may be) may deem advisable from time to time, and any Collateral, guarantee or right of offset at any time held by the Administrative Agent or any Secured Party for the payment of the Guaranteed Obligations may be sold, exchanged, waived,
surrendered or released. Neither the Administrative Agent nor any Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Guaranteed Obligations or for the guarantee contained
in this Section 2.03 or any property subject thereto. 
 Section 2.04. Reinstatement. Each Guarantor
agrees that its guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed Obligation is rescinded or must otherwise be restored by the Administrative Agent
or any other Secured Party upon the bankruptcy or reorganization of the Borrower or any other Loan Party, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any
Loan Party or any substantial part of its property, or otherwise. 
 Section 2.05. Agreement to Pay; Contribution;
Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, but subject to the
limitations set forth in Section 2.07, upon the failure of the Borrower or any other Loan Party to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or
otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent for distribution to the applicable Secured Parties in cash the amount of such unpaid Guaranteed Obligation. Subject to the
limitations set forth in Section 2.07, each Guarantor hereby unconditionally and irrevocably agrees that in the event any payment shall be required to be made to any Secured Party under this Agreement, such Guarantor will contribute in respect
of its Guaranteed Obligations, to the maximum extent permitted by law, such amounts to each other Guarantor so as to maximize the aggregate amount paid to the Secured Parties under or in respect of the Loan Documents. Upon payment by any Guarantor
of any sums to the Administrative Agent as provided above or upon enforcement of any Security Documents granted by any Guarantor, all rights of such Guarantor against the applicable Borrower or any other Guarantor arising as a result thereof by way
of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article III. 

  
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 Section 2.06. Information. Each Guarantor assumes all
responsibility for being and keeping itself informed of the financial condition and assets of the Borrower and each other Loan Party, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature,
scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Administrative Agent or the other Secured Parties will have any duty to advise such Guarantor of information known to it or any of them
regarding such circumstances or risks. 
 Section 2.07. Maximum Liability. Each Guarantor, and by its
acceptance of this Agreement, the Administrative Agent and each Secured Party hereby confirms that it is the intention of all such Persons that this Agreement and the Guaranteed Obligations of each Guarantor hereunder not constitute a fraudulent
transfer or conveyance for purposes of the Bankruptcy Code or any other federal or state bankruptcy, insolvency, receivership or similar law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state
law to the extent applicable to this Agreement and the Guaranteed Obligations of each Guarantor hereunder. To effectuate the foregoing intention, the Administrative Agent, the Secured Parties and the Guarantors hereby irrevocably agree that the
Obligations of each Guarantor under this Agreement at any time shall be limited to the maximum amount as will result in the Guaranteed Obligations of such Guarantor under this Agreement not constituting a fraudulent transfer or conveyance. 

Section 2.08. Payment Free and Clear of Taxes. Any and all payments by or on account of any obligation of any
Guarantor hereunder or under any other Loan Document shall be made free and clear of, and without deduction for, any Indemnified Taxes or Other Taxes on the same terms and to the same extent that payments by the Borrower are required to be made
pursuant to the terms of Section 2.17 of the Credit Agreement. The provisions of Section 2.17 of the Credit Agreement shall apply to each Guarantor mutatis mutandis. 

Section 2.09. Additional Borrowers or Subsidiary Parties. The guarantee of any Subsidiary Loan Party that
becomes a party hereto pursuant to Section 4.12 shall be subject to the limitations (if any) set forth in the applicable Supplement relating to such guarantee. 

ARTICLE III  

Indemnity, Subrogation and Subordination 

Section 3.01. Indemnity. In addition to all such rights of indemnity and subrogation as the Guarantors may
have under applicable law (but subject to Section 3.03 hereof), the Borrower agrees that (a) in the event a payment shall be made by any 

  
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Guarantor (including another Borrower, in its capacity as a Guarantor hereunder) under this Agreement in respect of any Guaranteed Obligation of the Borrower, the Borrower shall indemnify such
Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Guarantor shall be
sold pursuant to a Security Document to satisfy in whole or in part a Guaranteed Obligation owed to any Secured Party by the Borrower, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market
value of the assets so sold. 
 Section 3.02. Contribution and Subrogation. Each Guarantor (a
“Contributing Guarantor”) agrees (subject to Section 3.03 hereof) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation, or assets of any other Guarantor
shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Party and such other Guarantor (the “Claiming Guarantor”) shall not have been fully indemnified by the Borrower as
provided in Section 3.01 hereof, the Contributing Guarantor shall indemnify the Claiming Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as applicable, in each
case multiplied by a fraction of which the numerator shall be the net worth of such Contributing Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors on the date hereof (or, in the case of any
Guarantor becoming a party hereto pursuant to Section 4.12 hereof, the date of the supplement hereto executed and delivered by such Guarantor). Any Contributing Guarantor making any payment to a Claiming Guarantor pursuant to this
Section 3.02 shall be subrogated to the rights of such Claiming Guarantor under Section 3.01 hereof to the extent of such payment. 

Section 3.03. Subordination; Subrogation. (a) Subject to the limitations set forth in Section 2.07,
to the extent permitted by law and to the extent to do so would not constitute unlawful financial assistance, each Guarantor hereby subordinates any and all debts, liabilities and other Obligations owed to such Guarantor by each other Loan Party
(the “Subordinated Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter set forth in this Section 3.03: 

(i) Prohibited Payments, Etc. Each Guarantor may receive payments from any other Loan Party on
account of the Subordinated Obligations. After the occurrence and during the continuance of any Event of Default, if requested by the Administrative Agent or required by the Required Lenders, no Guarantor shall demand, accept or take any action to
collect any payment on account of the Subordinated Obligations until the Guaranteed Obligations have been irrevocably paid in full in cash. 

(ii) Prior Payment of Guaranteed Obligations. In any proceeding under the Bankruptcy Code or any
other federal or state bankruptcy, insolvency, receivership or similar law in any jurisdiction relating to any other Loan Party, each Guarantor agrees that the Secured  

  
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Parties shall be entitled to receive irrevocable payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under
any Bankruptcy Code or any other federal or state bankruptcy, insolvency, receivership or similar law in any jurisdiction, whether or not constituting an allowed claim in such proceeding (“Post-Petition Interest”)) before
such Guarantor receives payment of any Subordinated Obligations. 
 (iii) Turn-Over. After the
occurrence and during the continuance of any Event of Default, each Guarantor shall, if the Administrative Agent so requests, collect, enforce and receive payments on account of the Subordinated Obligations as trustee for (or, in any jurisdiction
whose law does not include the concept of trusts, for the account of) the Secured Parties and deliver such payments to the Administrative Agent on account of the Guaranteed Obligations (including all Post-Petition Interest), together with any
necessary endorsements or other instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions of this Agreement. 

(iv) Administrative Agent Authorization. After the occurrence and during the continuance of any
Event of Default, the Administrative Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated
Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the
Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest). 

(b) Subject to the limitations set forth in Section 2.07, each Guarantor hereby unconditionally and irrevocably agrees not to exercise
any rights that it may now have or hereafter acquire against the Borrower, any other Loan Party or any other insider guarantor that arise from the existence, payment, performance or enforcement of such Guarantor’s obligations under or in
respect of the guarantee set forth in Article II or any other Loan Document, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of
any Secured Party against the Borrower, any other Loan Party or any other insider guarantor or any Collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the
right to take or receive from the Borrower, any other Loan Party or any other insider guarantor, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right,
unless and until all of the Guaranteed Obligations and all other amounts payable under the guarantee set forth in Article II shall have been paid in full in cash, all Ancillary 

  
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Agreements secured hereunder shall have been terminated and the Commitments shall have expired or been terminated and each Guarantor agrees that it will not be entitled to bring any action,
claim, suit or other proceeding in respect of any right it may have in respect of any payment on its guarantee until such time. If any amount shall be paid to any Guarantor in violation of the immediately preceding sentence at any time prior to the
latest of (a) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under the guarantee set forth in Article II and (b) the latest date of termination of all Ancillary Agreements secured hereunder, such
amount shall be received and held in trust for the benefit of the Secured Parties, shall be segregated from other property and funds of such Guarantor and shall forthwith be paid or delivered to the Administrative Agent in the same form as so
received (with any necessary endorsement or assignment) to be credited and applied to the Guaranteed Obligations and all other amounts payable under the guarantee set forth in Article II, whether matured or unmatured, in accordance with the terms of
the Loan Documents, or to be held as Collateral for any Guaranteed Obligations or other amounts payable under such guarantee thereafter arising. If (i) any Guarantor shall make payment to any Secured Party of all or any part of the Guaranteed
Obligations, (ii) all of the Guaranteed Obligations and all other amounts payable under the guarantee set forth in Article II shall have been paid in full in cash, (iii) the Maturity Date shall have occurred, and (iv) all Ancillary
Agreements secured hereunder shall have terminated or shall have been cash collateralized, the Administrative Agent will, at such Guarantor’s request and expense, execute and deliver to such Guarantor appropriate documents, without recourse and
without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment made by such Guarantor pursuant to such guarantee. 

ARTICLE IV  

Miscellaneous 

Section 4.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be
in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to any Subsidiary Loan Party shall be given to it in care of Intermediate Holdings, with such notice to be given as provided in
Section 9.01 of the Credit Agreement. 
 Section 4.02. Limitation By Law. All rights, remedies and powers provided
in this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law that
may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid or unenforceable, in whole or in part, under the provisions of any applicable law. 

Section 4.03. Binding Effect; Several Agreement. This Agreement shall become effective as to any party to this Agreement
when a counterpart hereof executed on behalf of such party shall have been delivered to the Administrative Agent and a 

  
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counterpart hereof shall have been executed on behalf of the Administrative Agent, and thereafter shall be binding upon such party and the Administrative Agent and their respective permitted
successors and assigns, and shall inure to the benefit of such party, the Administrative Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its
rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with
respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder. 

Section 4.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor or the Administrative Agent that are contained in this Agreement
shall bind and inure to the benefit of their respective permitted successors and assigns; provided that no Guarantor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior written consent of
the Administrative Agent. 
 Section 4.05. Administrative Agent’s Fees and Expenses; Indemnification. (a) The
parties hereto agree that the Administrative Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 9.05 of the Credit Agreement. 

(b) Without limitation of its indemnification obligations under the other Loan Documents, each Guarantor jointly and severally agrees to
indemnify the Administrative Agent and the other Indemnitees (as defined in Section 9.05 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including
reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, (i) the execution, delivery or performance of this Agreement or any other Loan Document or
any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the consummation of the Transactions and other transactions contemplated hereby,
(ii) the use of proceeds of the Loans or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, or to the Collateral, whether or not any Indemnitee is a party thereto; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee. 
 (c) Subject to the terms of the Security Documents, any such amounts payable as
provided hereunder shall be additional Guaranteed Obligations secured by the Collateral Agreement and the other Security Documents. The provisions of this Section 4.05 

  
 11 

 
shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the
repayment of any of the Guaranteed Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent or any other Secured
Party. Subject to the limitations set forth in Section 2.07, all amounts due under this Section 4.05 shall be payable on written demand therefor, accompanied by reasonable documentation with respect to any reimbursement, indemnification or
other amount requested. 
 Section 4.06. Waivers; Amendment. (a) No failure or delay by the Administrative Agent or
any Secured Party in exercising any right, power or remedy hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy, or any abandonment or
discontinuance of steps to enforce such a right, power or remedy, preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies of the Administrative Agent and the Secured Parties
hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights, powers or remedies that they would otherwise have. No waiver of any provision of this Agreement 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 4.06, 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 or Event of Default, regardless of whether the Administrative Agent or any Secured Party may have had notice or knowledge of such
Default or Event of Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 

(b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in
writing entered into by the Administrative Agent and the Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.08 of the Credit
Agreement. 
 Section 4.07. Severability. In the event any one or more of the provisions
contained in this Agreement or in any other Loan Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be
affected or impaired thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid,
illegal or unenforceable provisions. 
 Section 4.08. Counterparts. This Agreement may be
executed in any number of counterparts (including by facsimile or other electronic transmission), each of which shall constitute an original but all of which when taken together shall constitute but 

  
 12 

 
one contract, and shall become effective as provided in Section 4.03 hereof. Delivery of an executed counterpart to this Agreement by facsimile transmission or other electronic means shall
be as effective as delivery of a manually signed original. 
 Section 4.09. Headings. Article
and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 4.10. Applicable Law; Jurisdiction; Venue; Consent to Service of Process; Waiver of Jury Trial.
(a) The terms of Sections 9.07, 9.11 and 9.15 of the Credit Agreement with respect to applicable law, consent to jurisdiction, venue, waiver of trial by jury and agent of process are incorporated herein by reference, mutatis mutandis,
and the parties hereto agree to such terms (and, for the avoidance of doubt, as incorporated into this Agreement, Section 9.11 of the Credit Agreement shall apply to each party hereto). 

(b) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 4.01. Nothing
in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 4.11. Termination or Release. (a) This Agreement and the guarantees made herein shall terminate on the
Termination Date. 
 (b) A Guarantor shall automatically be released from its guarantee and its obligations hereunder (i) upon the
consummation of any transaction permitted by the Credit Agreement as a result of which such Guarantor ceases to be a Subsidiary of Intermediate Holdings or otherwise ceases to be a Guarantor, subject, if applicable, to consent required in accordance
with Section 9.08 of the Credit Agreement and/or (ii) to the extent provided in Section 9.18 of the Credit Agreement. 
 (c)
In connection with any termination or release pursuant to paragraph (a) or (b) of this Section 4.11, the Administrative Agent shall execute and deliver to any Guarantor, at such Guarantor’s expense, all documents that such
Guarantor shall reasonably request to evidence such termination or release; provided that the Administrative Agent shall not be required to take any action under this Section 4.11(c) unless such Guarantor shall have delivered to the
Administrative Agent together with such request, which may be incorporated into such request, a certificate of a Responsible Officer certifying that the transaction giving rise to such termination or release is permitted by the Credit Agreement and
was consummated in compliance with the Loan Documents. Any execution and delivery of documents pursuant to this Section 4.11 shall be without recourse to or warranty by the Administrative Agent. 

Section 4.12. Additional Guarantors. Upon execution and delivery by the Administrative Agent
and any Subsidiary that is required to become a party hereto by Section 5.10 of the Credit Agreement of an instrument in the form of Exhibit I hereto 

  
 13 

 
(with such additions to such form as the Administrative Agent and Intermediate Holdings may reasonably agree in the case of any such Subsidiary) (a “Supplement”), such
entity shall become a Guarantor hereunder with the same force and effect as if originally named as a Guarantor herein. The execution and delivery of any such instrument shall not require the consent of any other party to this Agreement. The rights
and obligations of each party to this Agreement shall remain in full force and effect notwithstanding the addition of any new party to this Agreement. 

Section 4.13. Right of Set-Off. The terms of Section 9.06 of the Credit Agreement with respect to right of set-off are
incorporated herein by reference, mutatis mutandis. 
 [Signature Pages Follow] 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above
written. 
  

			
	MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC.
		
	By:	 	 /s/ William H. Carter

	Name:	 	William H. Carter
	Title:	 	Executive Vice President and Chief Financial Officer
	
	MOMENTIVE PERFORMANCE MATERIALS INC.
		
	By:	 	 /s/ William H. Carter

	Name:	 	William H. Carter
	Title:	 	Executive Vice President and Chief Financial Officer

 [Signature Page to Guarantee Agreement (Term Loan)] 

			
	MOMENTIVE PERFORMANCE MATERIALS USA INC.
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President and Treasurer
	
	MOMENTIVE PERFORMANCE MATERIALS WORLDWIDE INC.
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President, Chief Financial Officer and Treasurer
	
	MOMENTIVE PERFORMANCE MATERIALS QUARTZ, INC.
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President and Treasurer
	
	MPM SILICONES, LLC
	
	By: Momentive Performance Materials USA Inc., its sole member
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President and Treasurer

 [Signature Page to Guarantee Agreement (Term Loan)] 

			
	MOMENTIVE PERFORMANCE MATERIALS SOUTH AMERICA INC.
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President and Treasurer
	
	MOMENTIVE PERFORMANCE MATERIALS CHINA SPV INC.
		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	Senior Vice President, Chief Financial Officer and Treasurer

 [Signature Page to Guarantee Agreement (Term Loan)] 

					
	JUNIPER BOND HOLDINGS I LLC
		
	By:	 	Momentive Performance Materials Inc., its sole member
			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	William H. Carter
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	JUNIPER BOND HOLDINGS II LLC
		
	By:	 	Momentive Performance Materials Inc., its sole member
			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	William H. Carter
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	JUNIPER BOND HOLDINGS III LLC
		
	By:	 	Momentive Performance Materials Inc., its sole member
			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	William H. Carter
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	JUNIPER BOND HOLDINGS IV LLC
		
	By:	 	Momentive Performance Materials Inc., its sole member
			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	William H. Carter
		 	Title:	 	Executive Vice President and Chief Financial Officer

 [Signature Page to Guarantee Agreement (Term Loan)] 

 
			
	JPMORGAN CHASE BANK, N.A. ,
	as Administrative Agent
		
	By:	 	 /s/ Charles O. Freedgood

	Name:	 	Charles O. Freedgood
	Title:	 	Managing Director

 [Signature Page to Guarantee Agreement (Term Loan)] 

 Schedule I to the 

Guarantee Agreement 
 Subsidiary
Loan Parties 
  

					
	 Name
	 	 Type of

Entity
	 	 Jurisdiction of

Organization

	Juniper Bond Holdings I LLC	 	Limited liability company	 	Delaware
	Juniper Bond Holdings II LLC	 	Limited liability company	 	Delaware
	Juniper Bond Holdings III LLC	 	Limited liability company	 	Delaware
	Juniper Bond Holdings IV LLC	 	Limited liability company	 	Delaware
	Momentive Performance Materials China SPV Inc.	 	Corporation	 	Delaware
	Momentive Performance Materials Quartz, Inc.	 	Corporation	 	Delaware
	Momentive Performance Materials South America Inc.	 	Corporation	 	Delaware
	Momentive Performance Materials Worldwide Inc.	 	Corporation	 	Delaware
	MPM Silicones, LLC	 	Limited liability company	 	New York

 Exhibit I to the 

Guarantee Agreement 
 SUPPLEMENT
NO.             , dated as of         (this “Supplement”), to the Guarantee Agreement, dated as of April 15, 2014 (as
amended, restated, supplemented or otherwise modified from time to time, the “Guarantee Agreement”), among MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC., a Delaware corporation (“Holdings”), MOMENTIVE
PERFORMANCE MATERIALS INC., a Delaware corporation (“Intermediate Holdings”), MOMENTIVE PERFORMANCE MATERIALS USA INC., a Delaware corporation (the “Borrower”), each other Subsidiary of Intermediate
Holdings identified therein as a party (each, a “Subsidiary Loan Party” and together with Holdings, Intermediate Holdings and the Borrower, the “Existing Guarantors”) and JPMORGAN CHASE BANK, N.A.
(“JPMorgan”), as administrative agent (together with its successors and assigns, in such capacity, the “Administrative Agent”) for the Secured Parties (as defined therein). 

A. Reference is made to the Senior Secured Debtor-in-Possession Term Loan Agreement, dated as of April 15, 2014 (as amended, restated,
supplemented, waived or otherwise modified from time to time, the “Credit Agreement”), among Holdings, Intermediate Holdings, the Borrower, the Lenders from time to time party thereto, JPMorgan, as administrative agent for
the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”) and as Collateral Agent, and the other parties named therein. 

B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and
the Guarantee Agreement, as applicable. 
 C. The Existing Guarantors have entered into the Guarantee Agreement in order to induce the
Lenders to make Loans. Section 4.12 of the Guarantee Agreement provides that additional Subsidiaries may become Guarantors under the Guarantee Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned
Subsidiary (the “New Guarantor”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Guarantor under the Guarantee Agreement in order to induce the Lenders to make additional
Loans and as consideration for Loans previously made. 
 Accordingly, the Administrative Agent and the New Guarantor agree as follows: 

SECTION 1. In accordance with Section 4.12 of the Guarantee Agreement, the New Guarantor by its signature below becomes a Guarantor under
the Guarantee Agreement with the same force and effect as if originally named therein as a Guarantor and the New Guarantor hereby agrees to all the terms and provisions of the Guarantee Agreement applicable to it as a Guarantor thereunder. In
furtherance of the foregoing, the New Guarantor does hereby guarantee to the Administrative Agent the due and punctual payment of the Guaranteed Obligations as set forth in the Guarantee Agreement. Each reference to a “Guarantor” in the
Guarantee Agreement and in this Supplement shall be deemed to include the New Guarantor. The Guarantee Agreement is hereby incorporated herein by reference. 

  
 7 

 SECTION 2. The New Guarantor represents and warrants to the Administrative Agent and the other
Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to (i) the effects of bankruptcy,
insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law) and (iii) implied covenants of good faith and fair dealing. 
 SECTION 3. The New Guarantor is a [company] duly
[incorporated or organized] under the laws of [name of relevant jurisdiction]. 
 SECTION 4. This Supplement may be executed
in any number of counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one contract. This Supplement shall become effective when (a) the Administrative Agent shall have received a
counterpart of this Supplement that bears the signature of the New Guarantor and (b) the Administrative Agent has executed a counterpart hereof. Delivery of an executed signature page to this Supplement by facsimile or other electronic
transmission shall be as effective as delivery of a manually signed counterpart of this Supplement. 
 SECTION 5. Except as expressly
supplemented hereby, the Guarantee Agreement shall remain in full force and effect. 
 SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES UNDER THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

SECTION 7. In the event any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee Agreement shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith negotiations to replace the
invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8. All communications and notices hereunder shall (except as otherwise expressly permitted by the Guarantee Agreement) be in writing
and given as provided in Section 9.01 of the Credit Agreement. 
 SECTION 9. The New Guarantor agrees to reimburse the Administrative
Agent for its reasonable and documented out-of-pocket expenses in connection with this Supplement, including the reasonable and documented fees, disbursements and other charges of counsel to the Administrative Agent to the extent required by
Section 9.05 of the Credit Agreement. 

  
 8 

 IN WITNESS WHEREOF, the New Guarantor and the Administrative Agent have duly executed this
Supplement to the Guarantee Agreement as of the day and year first above written. 
  

			
	[Name of New Guarantor]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Legal name:
	
	Jurisdiction of organization:
	
	Location of chief executive office:

  
 9 

 
			
	JPMORGAN CHASE BANK, N.A.,
	as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 10DIP Financing Intercreditor Agreement

 Exhibit 10.8 

EXECUTION VERSION 
 DIP
FINANCING INTERCREDITOR AGREEMENT 
 This DIP FINANCING INTERCREDITOR AGREEMENT (this “Agreement”) dated as of
April 15, 2014 is among (i) JPMORGAN CHASE BANK, N.A., as administrative and collateral agent for the ABL Secured Parties referred to herein (in such capacity, the “ABL Agent”), (ii) JPMORGAN CHASE BANK, N.A., as
administrative and collateral agent for the Term Loan Secured Parties referred to herein (in such capacity, the “Term Loan Agent”, and together with the ABL Agent, the “DIP Agents”) and (iii) MOMENTIVE
PERFORMANCE MATERIALS HOLDINGS INC. and each of its subsidiaries signatory hereto (collectively, the “Grantors”). 

WHEREAS, on April 13, 2014, each of the Grantors filed voluntary petitions with the Bankruptcy Court (as such term and each other
capitalized term used but not defined in these recitals is defined in Section 1 below) commencing their respective cases that are pending under chapter 11 of the Bankruptcy Code (the “Cases”); 

WHEREAS, on April 14, 2014, the Bankruptcy Court entered the Interim Order approving the DIP ABL Facility and the DIP Term Loan Facility,
and providing, among other things, that the obligations under the Facilities shall be secured by fully perfected security interests in and Liens upon all pre-and post-petition property held by any Grantor (limited, in the case of any Grantor that is
the direct parent of a foreign subsidiary, to no more than 65% of equity interests of such direct foreign subsidiaries), whether existing on the Petition Date or thereafter acquired, including any cash and any investments of such cash, inventory,
accounts receivable, other rights to payment whether arising before or after the Petition Date, contracts, properties, plants, equipment, general intangibles, documents, instruments, interest in leaseholds, real properties, patents, copyrights,
trademarks, trade names, other intellectual property, equity interests, and the proceeds of all of the foregoing and, subject to and effective upon entry of the Final Order, the Avoidance Proceeds; 

WHEREAS, the respective priorities of the Secured Parties on all or any part of the Collateral are as set forth in the Orders; 

WHEREAS, concurrently with the entering into of this Agreement, each of the Grantors has entered into (i) that certain Senior
Secured Debtor-in-Possession and Exit Amended and Restated Asset-Based Revolving Credit Agreement, dated as of April 15, 2014 (the “DIP ABL Agreement”), among Momentive Performance Materials USA Inc. as a borrower, Momentive
Performance Materials GmbH as a non-Debtor borrower, Momentive Performance Materials Quartz GmbH as a non-Debtor borrower and Momentive Performance Materials Nova Scotia ULC as a non-Debtor borrower, the Grantors party thereto in their capacity as
guarantors, the ABL Agent as administrative and collateral agent, and the lenders party thereto, which agreement amends and restates the Prepetition Credit Agreement (as defined in the DIP ABL Agreement) and (ii) that certain Senior Secured
Debtor-in-Possession Term Loan Agreement, dated as of April 15, 2014 (the “DIP Term Loan Agreement” and, together with the DIP ABL Agreement, the “DIP Credit Agreements”), among Momentive Performance Materials
USA Inc. as the borrower, the Grantors party thereto in their capacity as guarantors, the Term Loan Agent as administrative and collateral agent, and the lenders party thereto; 

 WHEREAS, to further evidence the Liens granted pursuant to the Orders to secure the
Secured Obligations, (i) the Grantors and the ABL Agent entered into that certain Collateral Agreement, dated as of April 24, 2013 (the “ABL Security Agreement”), securing the obligations of such Grantors in respect of the
DIP ABL Facility and (ii) the Grantors and the Term Loan Agent entered into that certain Collateral Agreement, dated as of April 15, 2014 (the “Term Loan Security Agreement”), securing the obligations of such Grantors in
respect of the DIP Term Loan Facility; 
 WHEREAS, certain non-Debtor Affiliates of the Grantors have pledged certain foreign assets
as collateral to secure their obligations under the DIP ABL Facility and such foreign collateral is not securing any of the obligations under the DIP Term Loan Agreement and, therefore, is not Common Collateral governed by this Agreement; 

WHEREAS, the ABL Secured Parties and the Term Loan Secured Parties have different Lien priorities with respect to the different Types of
Common Collateral that are subject to the Liens granted under the Collateral Documents and the Orders; and 
 WHEREAS, it is a condition to
effectiveness of the DIP Credit Agreements that the parties hereto enter into this Agreement to confirm the relative rights and priorities of the Secured Parties set forth in the Orders in the different Types of Common Collateral. 

NOW THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and other good and valuable consideration, the
existence and sufficiency of which is expressly recognized by all of the parties hereto, the parties hereto hereby agree as follows: 
 Section 1.
Definitions. 
 1.1 Defined Terms. The following terms, as used herein, have the following meanings: 

“ABL Agent” has the meaning set forth in the preamble to this Agreement. 

“ABL Collateral Documents” means the ABL Security Agreement and each other mortgage, collateral assignment, security
agreement, pledge agreement, reaffirmation agreement or other collateral or security agreement executed and delivered by any Grantor in connection with any Lien securing any obligation under or in respect of the DIP ABL Facility. 

“ABL Discharge Date” means, subject to Section 2.7(b), the date upon which there has been (a) payment in
full in cash of the principal of and interest and premium, if any, on all loans outstanding under the ABL Loan Documents, (b) payment in full in cash of all other ABL Obligations that are due and payable or otherwise accrued and owing at or
prior to the time such principal and interest are paid (which, for avoidance of doubt, does not include contingent indemnification and similar obligations as to which no claim for payment has at the time been made), (c) cancellation of or the
entry into arrangements reasonably satisfactory to the ABL Agent and the applicable issuing bank with respect to all letters of credit issued and outstanding under the DIP ABL Agreement and (d) termination or expiration of all commitments to
lend and all obligations to issue or extend letters of credit under the DIP ABL Agreement. 

  
 2 

 “ABL Loan Documents” means the DIP ABL Agreement, the ABL Collateral
Documents and all other Loan Documents (as defined in the DIP ABL Agreement) executed and delivered by any Grantor in connection with the foregoing and this Agreement. 

“ABL Obligations” means all Obligations arising under the ABL Loan Documents. 

“ABL-Priority Collateral” means any and all of the following Common Collateral now owned or at any time hereafter
acquired by any Grantor to the extent a security interest in such Common Collateral has been or may hereafter be granted to the ABL Agent under the ABL Collateral Documents or the Orders: (a) all Accounts; (b) all Inventory; (c) to
the extent evidencing, governing, securing or otherwise related to the items referred to in the preceding clauses (a) and (b), all (i) General Intangibles, (ii) Chattel Paper, (iii) Instruments and (iv) Documents;
(d) all Payment Intangibles (including corporate tax refunds), other than any Payment Intangibles that represent tax refunds in respect of or otherwise related to Real Estate Assets, Fixtures or Equipment; (e) all payments received from
Grantors’ credit card clearing houses and processors or otherwise in respect of all credit card charges for sales of inventory by the Grantors; (f) all collection accounts, deposit accounts, securities accounts and commodity accounts and
any cash or other assets in any such accounts (other than separately identified cash proceeds of Non-ABL Priority Collateral) and securities entitlements and other rights with respect thereto; (g) to the extent relating to any of the items
referred to in the preceding clauses (a) through (f) constituting ABL-Priority Collateral, all Supporting Obligations and letter-of-credit rights; (h) all books and records related to the foregoing; and (i) all products and
proceeds of any and all of the foregoing in whatever form received, including proceeds of insurance policies related to Inventory of any Grantor and business interruption insurance (in each case, except to the extent constituting proceeds of Non-ABL
Priority Collateral). All capitalized terms used in this definition and not defined elsewhere in this Agreement have the meanings assigned to them in the UCC. The ABL-Priority Collateral and the Non-ABL Priority Collateral include the Avoidance
Proceeds on an equal and ratable basis. 
 “ABL Secured Party” means the ABL Agent and each other holder of
an ABL Obligation, including each lender party to the DIP ABL Agreement. 
 “ABL Security Agreement” has the
meaning set forth in the preamble to this Agreement. 
 “Affiliate” has the meaning set forth in the DIP
Credit Agreements. 
 “Avoidance Actions” shall mean the Grantors’ claims and causes of action under
chapter 5 of the Bankruptcy Code. 
 “Avoidance Proceeds” shall mean all proceeds of any Avoidance Action.

 “Bankruptcy Code” means the title 11 of the United States Code (11 U.S.C. §§ 101 et seq.), as
amended from time to time. 
 “Bankruptcy Court” means the United States Bankruptcy Court for the Southern
District of New York or any other court having jurisdiction over the Cases from time to time. 

  
 3 

 “Cases” has the meaning set forth in the preamble to this Agreement. 

 “Cash Collateral” has the meaning specified in the Orders.  

“Collateral Documents” means the ABL Collateral Documents and the Term Loan Collateral Documents.  

“Common Collateral” means, collectively, all property and assets of the Grantors that are subject to the Liens granted
pursuant to the Orders and the Collateral Documents to secure the ABL Obligations and the Term Loan Obligations. 

“Debtors” means the debtors in the Cases.  

“Default Remedies” means all rights and remedies of any Secured Party in respect of any Common Collateral, whether
arising pursuant to the DIP Credit Agreements, the Collateral Documents, the Orders or applicable law, the exercise of which is contingent upon the occurrence and continuation of an Event of Default (as defined in either of the DIP Credit
Agreements) under the applicable DIP Credit Agreement and the terms of the Orders. 
 “DIP ABL Agreement” has
the meaning set forth in the preamble to this Agreement. 
 “DIP ABL Facility” has the meaning set forth in
the Orders.  
 “DIP Agents” has the meaning set forth in the preamble to this Agreement. 

“DIP Credit Agreements” has the meaning set forth in the preamble to this Agreement. 

“DIP Term Loan Agreement” has the meaning set forth in the preamble to this Agreement. 

“DIP Term Loan Facility” has the meaning set forth in the Orders. 

“Discharge” or “Discharged” has the meaning described in the definitions of ABL Discharge Date or
Term Loan Discharge Date, as applicable.  
 “Discharge Date” means the ABL Discharge Date or the Term Loan
Discharge Date, as the context may require. 
 “Disposition” means any sale, lease, exchange, transfer, other
disposition or realization of any property of any Grantor.  
 “Facilities” means, collectively, the DIP ABL
Facility and the DIP Term Loan Facility. 
 “Final Order” has the meaning set forth in the Interim Order.

 “First Priority Obligations” means (i) with respect to any ABL-Priority Collateral, the ABL Obligations
and (ii) with respect to any Non-ABL Priority Collateral, the Term Loan Obligations. 

  
 4 

 “First Priority Secured Party” means (i) with respect to any
ABL-Priority Collateral, any of the ABL Secured Parties and (ii) with respect to any Non-ABL Priority Collateral, any of the Term Loan Secured Parties. 

“Grantors” has the meaning set forth in the preamble to this Agreement. 

“Interim Order” means the “Interim Order under 11 U.S.C. §§ 105, 361, 362, 363(c),
363(d), 364(c), 364(d), 364(e) and 507 and Bankruptcy Rules 2002, 4001 and 9014 (I) Authorizing the Debtors to Obtain Postpetition Financing, (II) Authorizing the Debtors to Use Cash Collateral, (III) Granting Adequate Protection to Prepetition
Secured Lenders and (IV) Scheduling a Final Hearing Pursuant to Bankruptcy Rules 4001(b) and (c)” entered by the Bankruptcy Court on April 14, 2014. 

“Lien” has the meaning set forth in the DIP Credit Agreements. 

“Loan Documents” means, collectively, the ABL Loan Documents and the Term Loan Documents. 

“Non-ABL Priority Collateral” means any and all of the following Common Collateral now owned or at any time hereafter
acquired by the any Grantor to the extent a security interest in such Common Collateral has been or may hereafter be granted to the Term Loan Secured Parties under the Term Loan Collateral Documents or the Orders: (a) all Real Estate Assets,
Fixtures and Equipment; (b) all intellectual property; (c) all equity interests in each Grantor’s subsidiaries (limited, in the case of any Grantor that is the direct parent of a foreign subsidiary, to no more than 65% of the equity
interests of such direct foreign subsidiaries); (d) all General Intangibles, Chattel Paper, Instruments and Documents (other than General Intangibles, Chattel Paper, Instruments and Documents that are ABL-Priority Collateral); (e) all
Payment Intangibles that represent tax refunds in respect of or otherwise relate to Real Estate Assets, Fixtures or Equipment; (f) all intercompany indebtedness of the Grantors and their subsidiaries; (g) all permits and licenses related
to any of the foregoing (including any permits or licenses related to the ownership or operation of Real Estate Assets, Fixtures or Equipment of any Grantor); (h) all proceeds of insurance policies (excluding any such proceeds that relate to
ABL-Priority Collateral); (i) all books and records related to the foregoing and not relating to ABL-Priority Collateral; (j) all products and proceeds of any and all of the foregoing (other than any such proceeds that are ABL-Priority
Collateral); and (k) all other Common Collateral not constituting ABL-Priority Collateral. All capitalized terms used in this definition and not defined elsewhere in this Agreement have the meanings assigned to them in the UCC. The ABL-Priority
Collateral and the Non-ABL Priority Collateral include the Avoidance Proceeds on an equal and ratable basis. 

“Obligation” means any payment obligation which is secured, or which purports to be secured, pursuant to any Loan
Document. 
 “Orders” means the Interim Order and the Final Order. 

“Person” has the meaning set forth in the DIP Credit Agreements. 

“Petition Date” means April 13, 2014. 

  
 5 

 “Real Estate Asset” means, at any time of determination, any interest
(fee, leasehold or otherwise) then owned by any Grantor in any real property. 
 “Second Priority
Obligations” means (i) with respect to any ABL-Priority Collateral, the Term Loan Obligations and (ii) with respect to any Non-ABL Priority Collateral, the ABL Obligations. 

“Second Priority Secured Parties” means (i) with respect to any ABL-Priority Collateral, any of the Term Loan
Secured Parties and (ii) with respect to any Non-ABL Priority Collateral, any of the ABL Secured Parties. 

“Secured Obligations” means the ABL Obligations and the Term Loan Obligations. 

“Secured Parties” means the ABL Secured Parties and the Term Loan Secured Parties. 

“Term Loan Agent” has the meaning set forth in the preamble to this Agreement. 

“Term Loan Collateral Documents” means the Term Loan Security Agreement and each other mortgage, collateral
assignment, security agreement, pledge agreement or other collateral or security agreement executed and delivered by the Grantors in connection with any Lien securing any obligation under or in respect of the DIP Term Loan Agreement. 

“Term Loan Discharge Date” means, subject to Section 2.7(b), the date upon which there has been (a) payment
in full in cash of the principal of and interest and premium, if any, on all loans outstanding under the Term Loan Documents, (b) payment in full in cash of all other Term Loan Obligations that are due and payable or otherwise accrued and owing
at or prior to the time such principal and interest are paid (which, for avoidance of doubt, does not include contingent indemnification and similar obligations as to which no claim for payment has at the time been made), and (c) termination or
expiration of all commitments to lend under the DIP Term Loan Agreement. 
 “Term Loan Documents” means the
DIP Term Loan Agreement, the Term Loan Collateral Documents and all other Loan Documents (as defined in the DIP Term Loan Agreement) executed and delivered by any Grantor in connection with the foregoing and this Agreement. 

“Term Loan Obligations” means all Obligations arising under the Term Loan Documents. 

“Term Loan Secured Party” means the Term Loan Agent and any holder from time to time of Term Loan Obligations,
including any lender party to the Term Loan Agreement. 
 “Term Loan Security Agreement” has the meaning set
forth in the preamble to this Agreement. 
 “Type” means either (i) ABL-Priority Collateral or
(ii) Non-ABL Priority Collateral, as the case may be. 

  
 6 

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

1.2 Terms Generally. The words “include”, “includes” and “including” shall be deemed to be
followed by the phrase “without limitation”. Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument
or other document as from time to time amended, restated, supplemented or otherwise modified (but subject to Section 6.1), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns,
(c) the words “herein”, “hereof’ and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) the word “property” shall be construed to refer to any and all tangible
and intangible assets and properties, including cash, securities, accounts and contract rights and (f) all references herein to a “violation of this Agreement” shall include any action or failure to act that breaches the express terms
of this Agreement, including any failure to honor a consent granted or waiver provided for in this Agreement. 

Section 2. Priorities.  

2.1 Lien Priorities. Each of the Secured Parties hereby covenants and agrees that: 

(a) In accordance with the Orders, any and all Liens securing Second Priority Obligations with respect to Common Collateral of the applicable
Type now existing or hereafter created or arising, regardless of how acquired, whether by grant, pursuant to the Orders, statute, operation of law, subrogation or otherwise, are expressly junior to any and all Liens securing First Priority
Obligations with respect to such Common Collateral now existing or hereafter created or arising, notwithstanding (i) anything to the contrary contained in any agreement or filing to which any Secured Party may now or hereafter be a party, and
regardless of the time, order or method of grant, attachment, recording or perfection of any financing statements or other security interests, assignments, pledges, deeds, mortgages and other liens, charges or encumbrances and (ii) any
provision of the UCC or any applicable law or any other circumstance whatsoever. 
 (b) Each Second Priority Secured Party (i) shall be
deemed to have consented to any sale by the First Priority Secured Parties, upon exercise of its Default Remedies, of any Common Collateral of the Type securing the First Priority Obligations and (ii) agrees that without the consent of the
First Priority Secured Parties, it will not use or apply all or any part of the Second Priority Obligations to bidding on, or making settlement or payment for any Common Collateral of the Type securing the Second Priority Obligations, unless the
First Lien Obligations are Discharged. It is understood that nothing in this clause (b) is intended to prohibit any Second Priority Secured Party from exercising any rights expressly granted to it under this Agreement. 

  
 7 

 (c) (i) Each ABL Secured Party agrees that until the Term Loan Discharge Date shall have
occurred, it shall not exercise any Default Remedy, direct or indirect, against any Non-ABL Priority Collateral without the prior written consent of the Term Loan Agent and (ii) each Term Loan Secured Party agrees that until the ABL Discharge
Date shall have occurred, it shall not exercise any Default Remedy, direct or indirect, against any ABL-Priority Collateral without the prior written consent of the ABL Agent. 

(d) It is understood that Sections 2.1(b) and (c) do not restrict the DIP Agent for the Second Priority Secured Parties from taking any
action (not adverse to the prior Liens securing the First Priority Obligations, or the rights of the DIP Agent for the First Priority Secured Parties to exercise remedies in respect thereof) in order to preserve, perfect or protect its Lien on the
Common Collateral securing the Second Priority Secured Parties or in furtherance of its rights under the Orders or this Agreement. 
 (e)
Notwithstanding anything to the contrary in this Agreement, the Liens of the ABL Secured Parties and the Term Loan Secured Parties on the Avoidance Proceeds shall have equal priority and none of the provisions in this Agreement subordinating or
otherwise limiting any Secured Parties’ rights and remedies with respect to the Common Collateral shall be applicable with respect to the Liens on the Avoidance Proceeds. Any Avoidance Proceeds received by the First Priority Secured Parties or
the Second Priority Secured Parties shall be applied among the ABL Secured Parties and the Term Loan Secured Parties ratably and on a pari passu basis notwithstanding Section 4. 

2.2 Prohibition On Contesting Liens. Each of the ABL Agent, for itself and on behalf of the ABL Secured Parties, and the Term Loan
Agent, for itself and on behalf of the Term Loan Secured Parties, agrees that it will not, and hereby waives any right to, contest or support any other Person in contesting, in any proceeding, the priority, validity or enforceability of any Lien
securing Term Loan Obligations or any Lien securing ABL Obligations, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any Secured Party to enforce this Agreement. 

2.3 No New Liens. The parties hereto agree that, so long as the repayment in full in cash of the First Priority Obligations has not
occurred, none of the Grantors shall (a) grant or permit any additional Liens on any asset to secure any Second Priority Obligation unless it has granted, or concurrently therewith grants, a Lien on such asset to secure the First Priority
Obligations or (b) grant or permit any additional Liens on any asset to secure any First Priority Obligations unless it has granted, or concurrently therewith grants, a Lien on such asset to secure the Second Priority Obligations, with each
such Lien to be subject to the provisions of this Agreement. To the extent that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to the Secured Parties,
the Secured Party to whom such Lien shall have been granted shall, without the need for any further consent of any party to any Loan Document and notwithstanding anything to the contrary in any other Loan Document, be deemed to hold and have held
such Lien for the benefit of all Secured Parties as security for all Secured Obligations, subject to the priorities set forth in Section 2.1. 

  
 8 

 2.4 Automatic Release of Liens Securing Second Priority Obligations. If, in connection
with the enforcement or exercise of any Default Remedies with respect to the Common Collateral, including any Disposition of Common Collateral, the DIP Agent for the First Priority Secured Parties, for itself and on behalf of the First Priority
Secured Parties, releases any of the Liens securing First Priority Obligations, the Liens securing Second Priority Obligations on such Common Collateral (but not in any proceeds thereof), shall be automatically, unconditionally and simultaneously
released, and the DIP Agent for the Second Priority Secured Parties shall, for itself and on behalf of the other Second Priority Secured Parties, promptly execute and deliver to the DIP Agent for the First Priority Secured Parties (or to another
Person upon the instruction of such DIP Agent) such termination statements, releases and other documents as the DIP Agent for the First Priority Secured Parties may reasonably request to effectively confirm such release. 

2.5 Nature of ABL Obligations; Priority Not Affected. The Term Loan Agent, on behalf of itself and the Term Loan Secured Parties,
acknowledges that the ABL Obligations are revolving in nature and that the amount thereof that may be outstanding at any time or from time to time may be repaid and reborrowed without affecting the provisions hereof. The priorities provided in
Section 2.1 shall not be altered or otherwise affected by any amendment, modification, supplement or extension of any Secured Obligation, in each case that is permitted under this Agreement, or by repayment and reborrowing under the DIP ABL
Facility. 
 2.6 Agreements Regarding Actions to Perfect Liens; Turnover of Common Collateral. Each DIP Agent hereby acknowledges
that, to the extent that it holds, or a third party holds on its behalf, physical possession of or “control” (as defined in the UCC) over Common Collateral, such possession or control is for the benefit of all of the Secured Parties. Upon
the applicable Discharge Date, the ABL Agent (in the case of the ABL Discharge Date) or the Term Loan Agent (in the case of the Term Loan Discharge Date) shall take such steps, and execute such documents, agreements and instruments, as the DIP Agent
representing the next most senior class of Secured Obligations may reasonably request to deliver physical possession or control of the applicable Common Collateral to such DIP Agent. 

2.7 Reinstatement; Refinancing. 

(a) If, in the Cases or otherwise, all or part of any payment with respect to the First Priority Obligations or Second Priority Obligations
previously made shall be rescinded for any reason whatsoever, then the First Priority Obligations or Second Priority Obligations, as applicable, shall be reinstated to the extent of the amount so rescinded and, if theretofore terminated, this
Agreement shall be reinstated in full force and effect and such prior termination shall not diminish, release, discharge, impair or otherwise affect the Lien priorities and the relative rights and obligations of the First Priority Secured Parties
and the Second Priority Secured Parties provided for in the Orders and this Agreement. 
 (b) Subject to the limitations set forth in the
Orders or the Loan Documents, during the Cases, the DIP ABL Facility or the DIP Term Loan Facility may be refinanced or replaced from time to time with additional debtor-in-possession revolving or term loan financing facilities, as applicable,
without affecting the priorities set forth in Section 2.1 or the provisions of this Agreement defining the relative rights of the ABL Secured Parties and the Term Loan Secured Parties, and such refinancing or replacement facilities shall be
deemed ABL Obligations or Term Loan Obligations hereunder, as applicable. 

  
 9 

 Section 3. Actions Upon Breach. Should any Second Priority Secured Party with respect to a
certain Type of Common Collateral (or any agent or other representative thereof) in any way take, attempt to or threaten to take any action with respect to the Common Collateral (including any attempt to enforce any remedy on the Common Collateral)
in violation of this Agreement, or fail to take any action required by this Agreement or consistent with the Orders, any First Priority Secured Party with respect to, that same Type of Common Collateral (in its or their own name or in the name of
one or more of the Grantors) may obtain relief against such Second Priority Secured Party or agent or other representative thereof, by injunction, specific performance and/or other appropriate equitable relief in the Bankruptcy Court or any other
court of competent jurisdiction. 
 Section 4. Application of Proceeds of Common Collateral. Subject to Section 2.1(e), all cash
proceeds received by either DIP Agent in respect of any exercise of Default Remedies with respect to all or any part of the Common Collateral shall promptly be applied to the Secured Obligations in accordance with the following order of priority:

 First: to the DIP Agent for the First Priority Secured Parties with respect to such Common Collateral, to be
applied to the expenses of such Disposition of Common Collateral, including reasonable compensation to agents of and counsel for such DIP Agent, and all expenses, liabilities and advances incurred or made by such DIP Agent in connection therewith;

 Second: to such DIP Agent to be applied to the repayment of First Priority Obligations then outstanding with
respect to such Common Collateral whether or not then due and payable (including without limitation amounts required to cash collateralize undrawn letters of credit and other contingent obligations then outstanding that are First Priority
Obligations, if any, in accordance with the terms of the applicable Credit Agreement) until the First Priority Obligations with respect to such Common Collateral are repaid and satisfied in full; 

Third: to such DIP Agent to be applied to the repayment of the Second Priority Obligations then outstanding with
respect to such Common Collateral whether or not then due and payable (including without limitation amounts required to cash collateralize undrawn letters of credit and other contingent obligations then outstanding that are Second Priority
Obligations, in accordance with the terms of the applicable Credit Agreement) until the Second Priority Obligations with respect to such Common Collateral are repaid and satisfied in full; 

Fourth: any surplus then remaining shall be paid to the applicable Grantor or its successors or assigns or to
whomsoever may be lawfully entitled to receive the same, including pursuant to the Orders. 

  
 10 

 Any proceeds of Common Collateral that may be received by any Second Priority
Secured Party in violation of this Agreement shall be segregated and held in trust and promptly paid over to the DIP Agent for the First Priority Secured Parties for the benefit of the First Priority Secured Parties, in the same form as received,
with any necessary endorsements and each Second Priority Secured Party hereby authorizes each of the DIP Agents to make such endorsements as agent for such Second Priority Secured Party (which authorization, being coupled with an interest, is
irrevocable). 
 Section 5. No Warranties or Liability.  

(a) The Term Loan Agent and the ABL Agent acknowledge and agree that neither has made any representation or warranty with respect to the
execution, validity, legality, completeness, collectability or enforceability of any Loan Document. 
 (b) The ABL Agent agrees that Term
Loan Agent shall have no liability to the ABL Agent or any ABL Secured Party, and hereby waives any claim against the Term Loan Agent, arising out of any and all actions which the Term Loan Agent or the Term Loan Secured Parties may take or permit
or omit to take with respect to (i) the Loan Documents (other than this Agreement), (ii) the collection of the Term Loan Obligations or (iii) the maintenance of, the preservation of, the foreclosure upon or the Disposition of any
Non-ABL Priority Collateral. 
 (c) The Term Loan Agent agrees that the ABL Agent shall have no liability to the Term Loan Agent or any Term
Loan Secured Party, and hereby waives any claim against the ABL Agent, arising out of any and all actions which the ABL Agent or the ABL Secured Parties may take or permit or omit to take with respect to (i) the Loan Documents (other than this
Agreement), (ii) the collection of the ABL Obligations or (iii) the maintenance of, the preservation of, the foreclosure upon or the Disposition of any ABL-Priority Collateral. 

Section 6. Miscellaneous.  

6.1 Matters Relating to Loan Documents. The Loan Documents may be amended, supplemented, waived or otherwise modified in
accordance with their terms; provided, however, that without the consent of each of the DIP Agents, no Loan Documents may be amended, supplemented, modified or waived to the extent any such amendment, supplement, modification or waiver
would be materially inconsistent with any of the terms of this Agreement or the Orders (each of the parties hereto agreeing that the incurrence of any incremental facility loans (and any related amendments, supplements, modifications or waivers)
permitted by the respective DIP Credit Agreements (as in effect as of the date hereof) shall not constitute an amendment, supplement, modification or waiver that would be materially inconsistent with the terms of this Agreement or the Orders).

 6.2 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any
other Loan Document, the provisions of this Agreement shall govern. In the event of any conflict between the provisions of this Agreement and the provisions of the Orders, the provisions of the Orders shall govern.  

  
 11 

 6.3 Continuing Nature of Provisions. This Agreement shall continue to be
effective, and shall not be revocable by any party hereto, until the later of the ABL Discharge Date and the Term Loan Discharge Date; provided the provisions of Section 2.6 hereof shall continue to be effective until all of the
obligations to take action on and after the applicable Discharge Date shall be complete. This is a continuing agreement and the Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other
financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Grantors under the DIP Credit Agreements. 

6.4 Amendments; Waivers. No amendment or modification of any of the provisions of this Agreement shall be effective
unless the same shall be in writing and signed by each DIP Agent on behalf of the Secured Parties and to the extent any such amendment or modification shall alter the rights or obligations of any Grantor, the Grantors. 

6.5 Governing Law.  
 (a)
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK AND, TO THE EXTENT APPLICABLE, THE BANKRUPTCY CODE. 

(b) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY: 

(i) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE BANKRUPTCY COURT AND, IF THE BANKRUPTCY COURT DOES NOT HAVE (OR ABSTAINS FROM) JURISDICTION, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF ANY STATE OR
FEDERAL COURT OF COMPETENT JURISDICTION SITTING IN NEW YORK COUNTY, NEW YORK; 
 (ii) WAIVES ANY OBJECTION, INCLUDING ANY
OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO;

 (iii) CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE
MANNER PROVIDED FOR NOTICES (OTHER THAN TELECOPIER) UNDER THE LOAN DOCUMENTS; 
 (iv) AGREES THAT NOTHING HEREIN SHALL AFFECT
THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION; AND 

  
 12 

 (v) WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO
CLAIM OR RECOVER IN ANY LEGAL ACTION OR PROCEEDING REFERRED TO IN THIS SUBSECTION ANY CONSEQUENTIAL OR PUNITIVE DAMAGES. 
 6.6
Waiver of Jury Trial. EACH PARTY HERETO 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 THIS AGREEMENT OR
ANY TRANSACTION CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  
 6.7 Notices.
Unless otherwise specifically provided herein, all notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or
overnight courier service or sent by facsimile or electronic communication equipment of the sender, or on the date five (5) business days after dispatch by certified or registered mail if mailed. 

6.8 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of each of the parties hereto
and each of the Secured Parties and their respective successors and assigns, and nothing herein is intended, or shall be construed to give, any other Person any right, remedy or claim under, to or in respect of this Agreement or any Common
Collateral. 
 6.9 Headings. Section headings used herein are for convenience of reference only, are not part of
this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

6.10 Severability. If any provision of this Agreement is invalid or unenforceable in any jurisdiction, then, to the
fullest extent permitted by law, (i) the other provisions of this Agreement shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the DIP Agents and the Secured Parties in order to carry out the
intentions of the parties thereto as nearly as may be possible and (ii) the invalidity or unenforceability of such provision in such jurisdiction shall not affect the validity or enforceability thereof in any other jurisdiction. 

6.11 Counterparts; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by email or facsimile
transmission shall be effective as delivery of a manually executed counterpart of this Agreement. This Agreement shall become effective when it shall have been executed by each party hereto. 

  
 13 

 6.12 Provisions Solely to Define Relative Rights. The provisions of this
Agreement are and are intended solely for the purpose of defining the relative rights of the Secured Parties. None of the Grantors or any other creditor thereof shall have any rights or obligations hereunder, except as expressly provided in this
Agreement. Nothing in this Agreement is intended to or shall impair the obligations of the Grantors, which are absolute and unconditional, to pay the ABL Obligations and the Term Loan Obligations as and when the same shall become due and payable in
accordance with their terms. 
 6.13 Grantor Consent. By their respective signatures below, the Grantors consent
to this Agreement, and accept the benefits of and agree to be bound by the provisions of Sections 2.3 and 4. 
 [Signature
pages follow] 

  
 14 

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

			
	JPMORGAN CHASE BANK, N.A.,
	as ABL Agent
		
	By:	 	 /s/ Charles O. Freedgood

	Name:	 	Charles O. Freedgood
	Title:	 	Managing Director
	
	 JPMORGAN CHASE BANK, N.A.,
 as Term
Loan Agent

		
	By:	 	 /s/ Charles O. Freedgood

	Name:	 	Charles O. Freedgood
	Title:	 	Managing Director

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT] 

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

			
	MOMENTIVE PERFORMANCE
	 MATERIALS HOLDINGS INC.

		
	By:	 	 /s/ William H. Carter

	Name:	 	William H. Carter
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

	
	 MOMENTIVE PERFORMANCE
 MATERIALS
INC.

		
	By:	 	 /s/ William H. Carter

	Name:	 	William H. Carter
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT] 

 
			
	MOMENTIVE PERFORMANCE
	 MATERIALS USA INC.

		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	 Senior Vice President and

Treasurer

	
	 MOMENTIVE PERFORMANCE
 MATERIALS
WORLDWIDE INC.

		
	By:	 	 /s/ George F. Knight

	Name:	 	 George F. Knight

	Title:	 	 Senior Vice President, Chief
 Financial
Officer and Treasurer

  

			
	MOMENTIVE PERFORMANCE
	 MATERIALS QUARTZ INC.

		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	 Senior Vice President and

Treasurer

	
	 MPM SILICONES LLC

		
	By:	 	 Momentive Performance Materials
 USA, Inc.,
its sole member

  

					
		 	By:	 	 /s/ George F. Knight

		 	Name:	 	 George F. Knight

		 	Title:	 	 Senior Vice President and

Treasurer

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT] 

 
			
	MOMENTIVE PERFORMANCE
	 MATERIALS SOUTH AMERICA INC.

		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	 Senior Vice President and

Treasurer

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT] 

 
					
	JUNIPER BOND HOLDINGS I LLC
		
	By:	 	 Momentive Performance Materials Inc.,

its sole member

			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	 William H. Carter

		 	Title:	 	 Executive Vice President and
 Chief Financial
Officer

  

					
	JUNIPER BOND HOLDINGS II LLC
		
	By:	 	 Momentive Performance Materials Inc.,

its sole member

			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	 William H. Carter

		 	Title:	 	 Executive Vice President and
 Chief Financial
Officer

  

					
	JUNIPER BOND HOLDINGS III LLC
		
	By:	 	 Momentive Performance Materials Inc.,

its sole member

			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	 William H. Carter

		 	Title:	 	 Executive Vice President and
 Chief Financial
Officer

  

					
	JUNIPER BOND HOLDINGS IV LLC
		
	By:	 	 Momentive Performance Materials Inc.,

its sole member

			
		 	By:	 	 /s/ William H. Carter

		 	Name:	 	 William H. Carter

		 	Title:	 	 Executive Vice President and
 Chief Financial
Officer

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT] 

 
			
	MOMENTIVE PERFORMANCE
	 MATERIALS CHINA SPV INC.

		
	By:	 	 /s/ George F. Knight

	Name:	 	George F. Knight
	Title:	 	 Senior Vice President, Chief
 Financial
Officer and Treasurer

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT]

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