Document:

Amended Shareholder Plan 1/23/2014

Exhibit 10.1

JACOBS ENGINEERING GROUP INC. 
1999 STOCK INCENTIVE PLAN 
(As Amended and Restated as of November 21, 2013) 

1.    Purpose. 

The purpose of the Jacobs Engineering Group Inc. 1999 Stock Incentive Plan, as amended and restated effective as of November 21, 2013 (the “Plan”), is to advance the long-term objectives of Jacobs Engineering Group Inc. (the “Company”) and its Related Companies (as defined in Paragraph 2) by encouraging and enabling the acquisition of a financial interest in the Company by employees of the Company and its Related Companies.  In addition, the Plan is intended to attract and retain such employees, and to align and strengthen their interests with those of the Company's shareholders. 

2.    Definitions. 

Unless the context clearly indicates otherwise, the following terms, when used in this Plan, shall have the meanings set forth in this Paragraph 2. 

“Award” means any award of an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit or Incentive Bonus granted pursuant to the Plan.

“Award Agreement” means any agreement, contract document or other instrument evidencing an Award.

“Board of Directors” means the Board of Directors of the Company. 

“Cause” means (unless otherwise expressly provided in an award agreement or another contract, including an employment agreement) the Company or a Related Company's termination of the Employee's employment with the Company or any Related Company, as applicable, following the occurrence of any one or more of the following: (a) the Employee is convicted of, or pleads guilty or nolo contendere to, a felony; (b) the Employee willfully and continually fails to substantially perform the Employee's duties with the Company or any Related Company after written notification by the Company or any such Related Company; (c) the Employee willfully engages in conduct that is materially injurious to the Company or any Related Company, monetarily or otherwise; (d) the Employee commits an act of gross misconduct in connection with the performance of the Employee's duties to the Company or any Related Company; or (e) the Employee materially breaches any employment, confidentiality or other similar agreement between the Company or any Related Company and the Employee.

“Change in Control” means, with respect to the Company, a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A under the Securities Exchange Act of 1934, as amended (the “1934 Act”), provided that such a change in control shall be deemed to have occurred at such time as (a) any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the 1934 Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of securities representing 35% or more of the combined voting power for election of directors of the then outstanding securities of the Company or any successor of the Company; (b) during any period of two (2) consecutive years or less, individuals who at the beginning of such period constituted the Board of Directors cease, for any reason, to constitute at least a majority of the Board of Directors, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period; (c) the consummation of any merger or consolidation as a result of which the Common Stock (as defined below) shall be changed, converted or exchanged (other than by merger with a wholly owned subsidiary of the Company) or any liquidation of the Company or any sale or other disposition of 50% or more of the assets or earning power of the Company; or (d) the consummation of any merger or consolidation to which the Company is a party as a result of which the persons who were shareholders of the Company immediately prior to the effective date of the merger or consolidation shall have beneficial ownership of less than 50% of the combined voting power for election of directors of the surviving corporation following the effective date of such merger or consolidation; provided, however, that no Change in Control shall be deemed to have occurred if, prior to such time as a Change in Control would otherwise be deemed to have occurred, the Board of Directors of the Company determines otherwise.  Notwithstanding the foregoing, with respect to an Award that is (i) subject to Section 409A and (ii) if a Change in Control would accelerate the timing of payment thereunder, then the term “Change in Control” shall mean a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company as defined in Section 409A and the authoritative guidance issued thereunder, but only to the extent inconsistent with the above definition, and only to the minimum extent necessary to comply with Section 409A as determined by the Committee.

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Exhibit 10.1

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

“Committee” means the Human Resource and Compensation Committee of the Board of Directors, or any committee appointed by the Board of Directors in accordance with the Company's By-Laws from among its members for the purpose of administering the Plan.  Members of the Committee shall be “Non Employee Directors” within the meaning of Rule 16b-3 under the 1934 Act, and “Outside Directors” as defined in IRS guidance issued under Section 162(m). 

“Common Stock” means the common stock of the Company, par value $1.00 per share. 

“Disabled” or “Disability” means the Participant meets the definition of “disabled” under the terms of the long term disability plan of the Company or Related Company by which the Participant is employed, in effect on the date in question, whether or not the Participant is covered by such plan. 

“Employee” means an employee of the Company or a Related Company. 

“Fair Market Value” means the closing price of one Share of Common Stock as reported in the composite transactions report of the U.S. national securities exchange on which the Common Stock is then listed, and if such exchange is not open that day, then the Fair Market Value shall be determined by reference to the closing price of the Common Stock for the immediately preceding trading day. 

“Good Reason” means, without the Participant's consent (a) a material reduction in the position, duties or responsibilities of the Participant from those in effect immediately prior to such change; (b) a reduction in the Participant's base salary; (c) a relocation of the Participant's primary work location to a distance of more than 50 miles from its location as of immediately prior to such change; or (d) a material breach by the Participant's employer of any employment agreement between the Company and the Participant. 

“Incentive Bonus” means a bonus award made under Paragraph 9 pursuant to which a Participant may become entitled to receive cash payments based on satisfaction of such performance criteria as are specified in the applicable Award Agreement or subplan(s). 

“ISO” means an incentive stock option within the meaning of Section 422 of the Code. 

“Majority-Owned Related Company” means a Related Company in which the Company owns, directly or indirectly, 50% or more of the voting stock on the date an Award is granted or awarded. 

“NQSO” means a stock option that does not constitute an ISO. 

“Options” means ISOs and NQSOs granted under the Plan. 

“Participant” means an Employee who is selected by the Committee to receive an Award under the Plan. 

“Qualifying Termination” means a termination of an Employee's employment with the Company (a) by the Company for any reason other than Cause or death or Disability or (b) by the Employee for Good Reason. 

“Related Company” or “Related Companies” means corporation(s) or other business organization(s) in which the Company holds a sufficient ownership interest so that Common Stock issued to the employees of such entities constitutes “service recipient stock,” as defined in IRS guidance under Section 409A.  In general, the Company holds a sufficient ownership interest if it owns, directly or indirectly, at least 50% of the total combined voting power of all classes of stock entitled to vote or at least 50% of the total value of shares of all classes of stock.  However, to the extent permitted by IRS guidance under Section 409A, “20%” shall be used instead of “50%” in the previous sentence. 

“Restricted Stock” means shares of Common Stock awarded pursuant to Paragraph 8 of the Plan. 

“Restricted Stock Unit” means an Award granted pursuant to Paragraph 8 of the Plan, pursuant to which Shares (or an amount of cash valued with reference to Shares) may be issued in the future. 

“Retire” means to enter Retirement. 

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Exhibit 10.1

“Retirement” means the termination of a Participant's employment with the Company or a Related Company by reason of a Participant having either (a) attained the age of 65, or (b) attained the age of 60 and completed a total of ten or more consecutive years of employment with the Company, and/or a Related Company. 

“Section 162(m)” means Section 162(m) of the Code and the regulations promulgated thereunder.

“Section 409A” means Section 409A of the Code and the regulations promulgated thereunder.

“Shares” means the shares of Common Stock.

“Stock Appreciation Right” or “SAR” means the right granted pursuant to Section 7 of the Plan.

3.    Eligibility; Award Agreements.

Any Employee shall be eligible to be selected as a Participant, and the Company may grant Awards to those persons meeting such eligibility requirements.  Each Award shall be evidenced by an Award Agreement, which shall either be in writing in a form approved by the Committee and executed by the Company by an officer duly authorized to act on its behalf, or an electronic notice in a form approved by the Committee and recorded by the Company (or its designee) in an electronic recordkeeping system; in each case and if required by the Committee, the Award Agreement shall be executed or otherwise electronically accepted by the recipient in such form and manner as the Committee may require.  Notwithstanding the foregoing, Incentive Bonuses may be payable under subplans and shall be granted as specified therein (which may or may not require an Award Agreement), at the discretion of the Committee.  The Award Agreement shall set forth the material terms and conditions of the Award established by the Committee and consistent with the provisions of the Plan.  The terms of the Awards and the Award Agreements need not be the same with respect to each Participant.  A Participant may hold more than one Award at the same time.

4.    Administration. 

		
	(a)
	The Plan shall be administered by the Committee.  The Board of Directors shall fill vacancies on, and from time to time may remove or add members to, the Committee.  The Committee shall act pursuant to a majority vote or unanimous written consent. 

		
	(b)
	The Committee shall determine: the Participants to whom, and the time or times at which, Awards will be granted; the type of Awards to be granted; the number of Shares (or amount of cash) to be subject to each Award and the form of settlement thereof; the duration of each Award; the time or times within which Options may be exercised; and any other terms and conditions of the Awards, at grant or while outstanding, pursuant to the terms of the Plan.  The Committee shall also establish such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, and make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Including addressing anticipated events (including any temporary closure of the stock exchange as which the Company is listed, disruption of communications or natural catastrophe.

		
	(c)
	Except as provided in Paragraph 14, each determination or other action made or taken pursuant to the Plan, including interpretations of the Plan and the specific conditions and provisions of the Awards, shall be final and conclusive for all purposes and upon all persons including, but without limitation, the Company, its Related Companies, the Committee, the Board of Directors, Participants, and the respective successors in interest of any of the foregoing. 

		
	(d)
	Notwithstanding the foregoing, with respect to any Award that is not intended to satisfy the conditions of Rule 16b-3 under the 1934 Act or Section 162(m), and to the extent not inconsistent with applicable law or the rules and regulations of the principal U.S. national securities exchange on which the Shares are traded, the Committee may appoint one or more separate committees (any such committee, a “Subcommittee”) composed of one or more directors of the Company, who unlike the members of the Committee, may be employee directors of the Company.  The Committee may delegate to any such Subcommittee(s), with respect to Employees who are not directors or executive officers of the Company, the authority to grant Awards, to determine all terms of such Awards and/or to administer the Plan, pursuant to the terms of the Plan; provided that (i) any resolution of the Committee authorizing such Subcommittee must specify the total number of Shares subject to Awards that such Subcommittee may so award and (ii) the Committee may not authorize any officer to designate himself or herself as the recipient of an Award.  Subject to the limitations of the Plan and the 

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Exhibit 10.1

limitations of the Committee's delegation, any such Subcommittee would have the full authority of the Committee pursuant to the terms of the Plan.  Any such Subcommittee shall not, however, grant Awards on terms more favorable than Awards provided for by the Committee.  Actions by any such Subcommittee within the scope of delegation shall be deemed for all purposes to have been taken by the Committee.  Any such Subcommittee shall be required to report to the Committee on any actions that the Subcommittee has taken. 

		
	(e)
	The Committee may designate the Secretary of the Company or any other Company employee to assist the Committee in the administration of the Plan, and may grant authority to such persons to execute Award Agreements or other documents entered into under the Plan on behalf of the Committee or the Company. 

5.    Shares and Share Counting. 

		
	(a)
	The Common Stock to be issued, transferred and/or sold under the Plan shall be made available from authorized and unissued Common Stock or from the Company's treasury shares. 

		
	(b)
	Subject to adjustment as provided in this Paragraph and Paragraph 13, the total number of Shares that may be issued or transferred under the Plan pursuant to Awards may not exceed 29,850,000 Shares.  For this purpose, every Share transferred pursuant to an Award granted after September 28, 2012 (i) that is an Option or SAR shall count as one share and (ii) every Share transferred pursuant to an Award granted after September 28, 2012 other than an Option or SAR shall count as 1.92 Shares.  If any Awards granted before September 29, 2012 (“Prior Awards”) are forfeited, in whole or in part, new Awards (“Subsequent Awards”) may be issued with respect to the Shares covered by such Prior Awards.  For the purpose of determining the amount of Shares that may be issued pursuant to Subsequent Awards, (1) forfeited Options and SARs shall be counted as one Share per each Share covered and Awards other than Options and SARs shall be counted as 1.92 Shares per each share covered, and (2) Shares issued pursuant to a Subsequent Award shall count as either one Share (if the Award is an Option or SAR) or 1.92 Shares (in the case of an Award other than an Option or SAR).  In the event that withholding tax liabilities arising from an Award other than an Option or SAR are satisfied by the withholding of Shares by the Company, then the Shares so withheld shall again be available for Awards under the Plan and shall count as 1.92 Shares for each Share so withheld.  Notwithstanding anything to the contrary contained herein, the following Shares shall not be added to the Shares authorized for issuance or transfer under this Paragraph 5(b): (i) Shares tendered by the Participant in payment of the purchase price of an Option, (ii) Shares tendered by the Participant or withheld by the Company to satisfy any tax withholding obligation with respect to Options or SARs, (iii) Shares subject to a SAR (that is, each SAR that is exercised shall reduce the number of Shares available by one Share), and (iv) Shares reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Options.

		
	(c)
	In the event that a company acquired by the Company or any Majority-Owned Related Company or with which the Company or any Majority-Owned Related Company combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other formula used in such transaction to determine the consideration payable to the holders of common) may be used for Awards under the Plan and shall not reduce the Shares authorized for issuance or transfer under the Plan; provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees or directors prior to such acquisition or combination. 

6.    Options. 

		
	(a)
	Grant.  Options may be granted hereunder to Participants either alone or in addition to other Awards.  Any Option shall be subject to the terms and conditions of the Plan and such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall deem desirable.  

		
	(b)
	Option Price. The option price per each Share shall not be less than 100% of the Fair Market Value of one Share on the date of grant of such Option; provided, however, that in the case of an ISO granted to a Participant who, at the time of the grant, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any subsidiary of the Company, the option price per Share shall be no less than 110% of the Fair Market Value of one Share on the date of grant.  

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Exhibit 10.1

		
	(c)
	Duration of Options. The duration of Options shall be determined by the Committee, but in no event shall the duration exceed ten years from the date of its grant; provided, however, that the term of the Option shall not exceed five years from the date the Option is granted in the case of an ISO granted to a Participant who, at the time of the grant, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any subsidiary of the Company.  Notwithstanding the foregoing, in the event that on the last business day of the term of an Option (i) the exercise of the Option, other than an ISO, is prohibited by applicable law or (ii) Shares may not be purchased or sold by certain Participants due to the “black-out period” pursuant to Company policy or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term shall be extended for a period of 30 days following the end of the legal prohibition, black-out period or lock-up agreement.

		
	(d)
	ISOs.  With respect to each grant of an Option to an employee of the Company or any Company subsidiary, the Committee shall determine whether such Option shall be an ISO, and, upon determining that an Option shall be an ISO, shall designate it as such in the written instrument evidencing such Option.  Each written instrument evidencing an ISO shall contain all terms and conditions required by Section 422 of the Code.  If the written instrument evidencing an Option does not contain a designation that it is an ISO, it shall not be an ISO.  The Employee to whom an ISO is granted must be eligible to receive an ISO pursuant to Section 422 of the Code.  Solely for purposes of determining whether Shares are available for the grant of ISOs under the Plan, the maximum aggregate number of Shares that may be issued pursuant to ISOs granted under the Plan shall be 29,850,000 Shares, subject to adjustment as provided in Paragraph 13.  The aggregate Fair Market Value (determined in each instance on the date on which an ISO is granted) of the Common Stock with respect to which ISOs are first exercisable by any employee in any calendar year shall not exceed $100,000 for such employee.  If any Majority-Owned Related Company of the Company shall adopt a stock option plan under which options constituting ISOs may be granted, the fair market value of the stock on which any such ISOs are granted and the times at which such ISOs will first become exercisable shall be taken into account in determining the maximum amount of ISOs that may be granted to the employee under this Plan in any calendar year. 

		
	(e)
	Exercise of Options.  The Award Agreement shall specify when Options vest and become exercisable.  An Option may not be exercised in a manner that will result in fractional Shares being issued. 

		
	i.
	Vested Options granted under the Plan shall be exercised by the Participant (or by a legal representative, to the extent provided in an Award Agreement) as to all or part of the Shares covered thereby, by giving notice of exercise to the Company or its designated agent, specifying the number of Shares to be purchased.  The notice of exercise shall be in such form, made in such manner, and shall comply with such other requirements consistent with the provisions of the Plan as the Committee may prescribe from time to time.

		
	ii.
	Unless otherwise provided in an Award Agreement, full payment of such purchase price shall be made at the time of exercise and shall be made: in cash or cash equivalents (including certified check or bank check or wire transfer of immediately available funds); by tendering previously acquired Shares (either actually or by attestation) valued at their then Fair Market Value; through any other method specified in an Award Agreement (including same-day sales through a broker); or any combination of any of the foregoing.  The notice of exercise, accompanied by such payment, shall be delivered to the Company at its principal business office or such other office as the Committee may from time to time direct, and shall be in such form, containing such further provisions consistent with the provisions of the Plan, as the Committee may from time to time prescribe. 

7.    Stock Appreciation Rights. 

		
	(a)
	Grant.  The Committee may grant SARs in tandem with all or part of any Award (including Options) or at any subsequent time during the term of such Award, or without regard to any other Award, in each case upon such terms and conditions as the Committee may establish.  

		
	(b)
	Grant Price and Duration.  A SAR shall have a grant price per Share of not less than the Fair Market Value of one Share on the date of grant or, if applicable, on the date of grant of an Option with respect to a SAR granted in tandem with the Option (subject to the requirements of Section 409A), and subject to adjustments provided in Paragraph 13.  A SAR shall have a term not greater than ten years.  Notwithstanding the foregoing, in the event that on the last business day of the term of a SAR (i) the exercise of the SAR is prohibited by applicable law or (ii) Shares may not be purchased or sold by certain employees or directors of the Company due to the “black-

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Exhibit 10.1

out period” of a Company policy or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term shall be extended for a period of 30 days following the end of the legal prohibition, black-out period or lock-up agreement.

		
	(c)
	Exercise.  An Award Agreement covering a SAR shall provide when the SAR vests and becomes exercisable.  Upon the exercise of a SAR, the holder shall have the right to receive the excess of (i) the Fair Market Value of one Share on the date of exercise (or such amount less than such Fair Market Value as the Committee shall so determine at any time during a specified period before the date of exercise) over (ii) the grant price of the SAR.  Unless otherwise provided in the Award Agreement, the Committee shall determine in its sole discretion whether payment shall be made in cash or Shares, or any combination thereof. Notwithstanding the foregoing, dividends or other distributions that relate to a Restricted Stock or Restricted Stock Unit Award subject to performance based vesting criteria will be subject to the same performance criteria as the underlying Award.

8.    Awards of Restricted Stock and Restricted Stock Units. 

		
	(a)
	Grants.  Awards of Restricted Stock and/or Restricted Stock Units may be granted to Participants either alone or in addition to other Awards (a “Restricted Stock Award” or “Restricted Stock Unit Award,” respectively).  Restricted Stock Units are Awards denominated in units of Common Stock under which settlement is subject to such vesting conditions and other terms and conditions as the Committee deems appropriate.  Each Restricted Stock Unit shall be equal to one share of Common Stock and shall, subject to satisfaction of any vesting and/or other terms and conditions, entitle a recipient to the issuance of one share of Common Stock (or such equivalent value in cash) in settlement of the Award.

		
	(b)
	Conditions and Restrictions.  Restricted Stock Awards and Restricted Stock Unit Awards may be subject to time-based and/or performance-based vesting conditions.  In the case of performance-based Awards, the performance goals to be achieved for each performance period shall be conclusively determined by the Committee and may be based upon the criteria set forth in Paragraph 10(b) or such other criteria as determined by the Committee in its discretion.  In order to enforce the restrictions imposed upon Restricted Stock Awards, the Committee may require the recipient to enter into an escrow agreement providing that the certificates representing such Restricted Stock Awards shall remain in the physical custody of an escrow holder until any or all of the conditions and restrictions imposed pursuant to the Plan expire or shall have been removed.

		
	(c)
	Rights of Holders of Restricted Stock and Restricted Stock Units.  Unless otherwise provided in the Award Agreement, beginning on the date of grant of the Restricted Stock Award and subject to execution of the Award Agreement, the Participant shall become a shareholder of the Company with respect to all Shares subject to the Award Agreement and shall have all of the rights of a shareholder, including the right to vote such Shares and the right to receive distributions made with respect to such Shares, except as otherwise provided in this Paragraph.  A Participant who holds a Restricted Stock Unit Award shall only have those rights specifically provided for in the Award Agreement; provided, however, in no event shall the Participant have voting rights with respect to such Award.  

		
	(d)
	Minimum Vesting Period.  Restricted Stock Awards and Restricted Stock Unit Awards shall have a vesting period of not less than (i) three years from date of grant (but permitting pro rata vesting over such time) if subject only to continued service with the Company or a Majority-Owned Related Company and (ii) one year from date of grant if subject to the achievement of performance objectives, subject in either case to accelerated vesting in the Committee's discretion in the event of the death, Disability or Retirement of the Participant or a Change in Control.  Notwithstanding the foregoing, the restrictions in the preceding sentence shall not be applicable to grants of up to 5% of the number of Shares available for Awards on the effective date of the Plan.  The Committee may, in its sole discretion waive the vesting restrictions and any other conditions set forth in any Award Agreement under such terms and conditions as the Committee shall deem appropriate, subject to the minimum vesting period requirements in the prior sentence and the limitations imposed under Section 162(m) (in the case of a Restricted Stock Award or Restricted Stock Unit Award intended to comply therewith), except as otherwise determined by the Committee to be appropriate under the circumstances.

		
	(e)
	Issuance of Shares.  Any Restricted Stock granted under the Plan may be evidenced in such manner as the Board may deem appropriate, including book-entry registration or issuance of a stock certificate(s), which certificate(s) shall be held by the Company.  Such book entry registration, or certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions applicable to such Restricted Stock.

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Exhibit 10.1

		
	9.
	Incentive Bonus Awards. 

		
	(a)
	Grants.  Awards of Incentive Bonuses may be granted hereunder to Participants either alone or in addition to other Awards.  Incentive Bonuses payable hereunder may be pursuant to one or more subplans or programs. 

		
	(b)
	Payment.  Each Incentive Bonus will confer upon the Participant the opportunity to earn a future cash payment the amount of which shall be based on the achievement of one or more objectively-determined performance goals or criteria established for a performance period determined by the Committee. 

		
	(c)
	Performance Goals.  The Committee shall establish the performance goals or criteria on which each Incentive Bonus shall be based.  The Committee shall also affirmatively determine at the end of each performance period the level of achievement of any such performance goals or criteria that shall determine the target and maximum amount payable under an Incentive Bonus, which criteria may be based on financial performance and/or personal performance evaluations.  The Committee may specify to what extent an Incentive Bonus is intended to satisfy the requirements for “performance-based compensation” under Section 162(m).  Notwithstanding anything to the contrary herein, the performance criteria for any portion of an Incentive Bonus that is intended by the Committee to satisfy the requirements for “performance-based compensation” under Section 162(m) shall be a measure based on one or more Qualifying Performance Criteria (as defined in Paragraph 10(b)) selected by the Committee and specified upon or prior to the grant of the Incentive Bonus. 

10.    Qualifying Performance-Based Compensation. 

		
	(a)
	General.  The Committee may specify that an Award or a portion of an Award is intended to satisfy the requirements for “performance-based compensation” under Section 162(m), provided that, other than with respect to Options or SARs, the performance criteria for an Award or portion of an Award that is intended by the Committee to satisfy the requirements for “performance-based compensation” under Section 162(m) shall be a measure based on one or more Qualifying Performance Criteria selected by the Committee and specified at the time the Award is granted.  In the case of any Award that is intended to satisfy the requirements for “performance-based compensation” under Section 162(m), the Committee shall establish the performance criteria with respect to such Award not later than ninety (90) days after the commencement of the period of service to which the performance criteria relate (or, in the case of performance periods of less than one year, not later than the date upon which 25% of the performance period elapses), provided that the outcome of the performance criteria is substantially uncertain at such time. The Committee shall certify the extent to which any Qualifying Performance Criteria has been satisfied, and the amount payable as a result thereof, prior to payment, settlement or vesting. 

		
	(b)
	Performance Criteria.  For purposes of this Plan, the term “Qualifying Performance Criteria” shall mean any one or more of the following performance criteria, or derivations of such performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole, or to a business unit or group of business units, or Related Company, measured either annually, at a point in time during a performance period, or as an average of values determined at various points of time during a performance period, or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years' (or period's) results or to a designated comparison group, or as a change in values during or between performance periods, in each case as specified by the Committee: (i) revenues; (ii) earnings from operations, earnings before or after income taxes, earnings before or after interest, depreciation, amortization, or earnings before extraordinary or special items, earnings before income taxes and any provision for Incentive Bonuses; (iii) net earnings or net earnings per common share (basic or diluted); (iv) return on assets (gross or net), return on investment, return on capital, or return on beginning, ending or average equity; (v) cash flow, cash flow from operations, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (vi) interest expense after taxes; (vii) economic value added or created; (viii) operating margin or profit margin; (ix) stock price or total shareholder return; (x) average cash balance, net cash or cash position; and (xi) strategic business criteria, consisting of one or more objectives based on meeting specified development, strategic partnering, licensing, research and development, market penetration, geographic business expansion goals, cost targets, customer satisfaction, employee satisfaction, management of employment practices and employee benefits, supervision of litigation and information technology, and goals relating to acquisitions or divestitures of subsidiaries, affiliates or joint ventures.  To the extent consistent with Section 162(m), the Committee (A) may appropriately adjust any measurement of performance under a Qualifying Performance Criteria to eliminate the effects of charges for 

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Exhibit 10.1

restructurings, discontinued operations, unusual or nonrecurring or extraordinary items and all items of gain, loss or expense determined to be extraordinary or unusual in nature or related to the disposal of a segment of a business or related to a change in accounting principle all as determined in accordance with accounting principles generally accepted in the United States, as well as the cumulative effect of accounting changes, in each case as determined in accordance with accounting principles generally accepted in the United States or identified in the Company's financial statements or notes to the financial statements, and (B) may appropriately adjust any measurement of performance under a Qualifying Performance Criteria to exclude the effects of any of the following events that occurs during a performance period: (1) asset write-downs, (2) litigation, claims, judgments or settlements, (3) changes in tax law or other such laws or provisions affecting reported results, (4) reorganization and restructuring programs and (5) payments made or due under this Plan or any other compensation arrangement maintained by the Company. 

		
	(c)
	Restrictions.  The Committee shall have the power to impose such other restrictions on Awards subject to this Paragraph as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for “performance-based compensation” within the meaning of Section 162(m).

		
	(d)
	Limitations on Grants to Individual Participants.  In no event may Awards that are denominated in shares and that are intended to be “performance-based compensation” under Section 162(m) be granted or awarded to any Employee covering more than 1,000,000 shares in the aggregate (taking into account all such share-based Awards) in any one calendar year, subject to the adjustment provisions of Paragraph 13 of the Plan only to the extent that such adjustment will not affect the status of any Award intended to qualify as “performance-based compensation” under Section 162(m).  During any calendar year no Participant may be granted Performance Awards that are intended to comply with the performance-based exception under Section 162(m) and are denominated in cash under which more than $5,000,000 may be earned for each 12 months in the performance period.  If an Award is cancelled, the cancelled Award shall continue to be counted toward the applicable limitation in this Paragraph.  

11.    Termination of Employment and Change in Control.

Schedule A and Schedule B, attached hereto, establish the effects of a Participant's termination of employment, other changes of employment or employer status, and a Change in Control, with respect to outstanding Options, SARs, Restricted Stock, and Restricted Stock Units, and such Schedules are hereby incorporated by reference.  The Committee may approve Awards containing terms and conditions different from, or in addition to, those set forth in Schedule A and Schedule B.  The effects of a termination of employment and/or a Change in Control with respect to Incentive Bonuses shall be set forth in the applicable Award Agreement.  In the case of leaves of absence, Employees will not be deemed to have terminated employment unless the Committee, in its sole discretion, determines otherwise. 

12.    Transferability of Awards. 

Except as otherwise provided by the Committee:

		
	(a)
	Awards shall not be transferable other than by will or by the laws of descent and distribution.  The rights of a Participant under this Plan shall not be assignable or transferable pursuant to a qualified domestic relations order as defined in the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder. 

		
	(b)
	During the lifetime of a Participant, an Option shall be exercisable only by the recipient of such Option, or by his/her legal representative. 

13.    Adjustments. 

In the event of any merger, reorganization, consolidation, combination of shares or spin-offs, recapitalization, dividend or distribution (whether in cash, shares or other property, other than a regular cash dividend), stock split, reverse stock split, or other change in corporate structure affecting the Shares or the value thereof or otherwise, the Committee or the Board of Directors shall make such adjustment and other substitutions, if any, as it may deem equitable and appropriate, including such adjustments in the number, class and kind of securities that may be delivered under the Plan, the number of Shares subject to any outstanding Award and the Option or exercise price, if any, thereof.  Any such adjustment may provide for the elimination of any fractional Shares that might otherwise become subject to any Award without payment therefore. 

30

Exhibit 10.1

14.    Amendments and Modifications of the Plan. 

The Board of Directors may, from time to time, alter, amend, suspend or terminate the Plan as it shall deem advisable, subject to any requirement for shareholder approval imposed by applicable law, including the rules and regulations of the principal U.S. national securities exchange on which the Shares are traded; provided that the Board of Directors may not amend the Plan in any manner that would result in noncompliance with Rule 16b-3 under the 1934 Act; and further provided that the Board of Directors may not, without the approval of the Company's shareholders to the extent required by such applicable law, amend the Plan to:  (a) increase the number of Shares that may be the subject of Awards under the Plan (except for adjustments pursuant to Paragraph 13); (b) expand the types of awards available under the Plan; (c) materially expand the class of persons eligible to participate in the Plan; (d) amend the Plan to eliminate the requirements relating to minimum exercise price, minimum grant price and shareholder approval; (e) increase the maximum permissible term of any Option or the maximum permissible term of SAR; or (f) increase any of the limitations in Paragraph 10(d).  The Board of Directors may not (except pursuant to Paragraph 13 or in connection with a Change in Control), without the approval of the Company's shareholders, cancel an Option or SAR in exchange for cash when the exercise or grant price per share exceeds the Fair Market Value of one Share or take any action with respect to an Option or SAR that would be treated as a repricing under the rules and regulations of the principal securities exchange on which the Shares are traded, including a reduction of the exercise price of an Option or the grant price of a SAR or the exchange of an Option or SAR for another Award.  In addition,except as expressly authorized under the Plan, no amendments to, or termination of, the Plan shall impair the rights of a Participant in any material respect under any Award previously granted without such Participant's consent.

15.    Tax Withholding.  

The Company shall have the right to make all payments or distributions pursuant to the Plan to a Participant (or a legal representative thereof as provided in an Award Agreement) net of any applicable federal, state and local taxes required to be paid or withheld as a result of (a) the grant of any Award; (b) the exercise of an Option or SAR; (c) the delivery of Shares or cash; (d) the lapse of any restrictions in connection with any Award; or (e) any other event occurring pursuant to the Plan.  The Company or any Majority-Owned Related Company shall have the right to withhold from wages or other amounts otherwise payable to a Participant (or a legal representative thereof as provided in an Award Agreement) such withholding taxes as may be required by law, or to otherwise require the Participant (or legal representative) to pay such withholding taxes.  The Company may, at its discretion, delay the delivery of Shares or cash otherwise deliverable to a Participant in connection with the settlement of an Award until such time arrangements have been made to ensure the remittance of all taxes due from the Participant in connection with the Award.  If the Participant (or legal representative) shall fail to make such tax payments as are required, the Company or its Majority-Owned Related Company shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to such Participant (or legal representative) or to take such other action as may be necessary to satisfy such withholding obligations.  The Committee shall be authorized to establish procedures for election by Participants (or legal representative) to satisfy such obligation for the payment of such taxes by tendering previously acquired Shares (either actually or by attestation, valued at their then Fair Market Value), or by directing the Company to retain Shares (up to the minimum required tax withholding rate for the Participant) or such other rate that will not cause an adverse accounting consequence or cost) otherwise deliverable in connection with the Award.

16.    Right of Discharge Reserved; Claims to Awards. 

Nothing in the Plan nor the grant of an Award hereunder shall confer upon any Participant the right to continue in the employment of the Company or any Related Company or affect any right that the Company or any Related Company may have to terminate the employment of (or to demote or to exclude from future Awards under the Plan) any such Participant at any time for any reason.  In the event of a Participant's termination of employment with the Company or Related Company, neither the Company nor any Related Company shall be liable for the loss of existing or potential profit from any Award held by a Participant immediately preceding the Participant's termination.  No Participant shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Participants under the Plan.

17.    Stop Transfer Orders.  

All certificates for Shares delivered under the Plan pursuant to any Award shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the United States Securities and Exchange Commission, any stock exchange upon which the Shares are then listed, and any applicable federal or state securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

31

Exhibit 10.1

18.    Severability.  

The provisions of the Plan shall be deemed severable.  If any provision of the Plan shall be held unlawful or otherwise invalid or unenforceable in whole or in part by a court of competent jurisdiction or by reason of change in a law or regulation, such provision shall (a) be deemed limited to the extent that such court of competent jurisdiction deems it lawful, valid and/or enforceable and as so limited shall remain in full force and effect; and (b) not affect any other provision of the Plan or part thereof, each of which shall remain in full force and effect.  

19.    Construction.  

As used in the Plan, the words “include” and “including,” and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation.”  

20.    Unfunded Status of the Plan.  

The Plan is intended to constitute an “unfunded” plan for incentive compensation.  With respect to any payments not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of the Company.  In its sole discretion, the Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver the Shares or payments in lieu of or with respect to Awards hereunder; provided, however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan.

21.    Non-U.S. Employees.  

The Committee may determine, in its sole discretion, whether it is desirable or feasible under local law, custom or practice to grant Awards to Participants in countries other than the United States.  In order to facilitate any such grants, the Committee may provide for such modifications and additional terms and conditions (“special terms”) in the grant and Award Agreements to Participants who are employed outside the United States (or who are foreign nationals temporarily within the United States) as the Committee may consider necessary, appropriate or desirable to accommodate differences in, or otherwise comply with, local law, policy or custom or to facilitate administration of the Plan.  The Committee may adopt or approve sub- plans, appendices or supplements to, or amendments, restatements or alternative versions of, the Plan as it may consider necessary, appropriate or desirable for purposes of implementing any special terms or facilitating the grant, without thereby affecting the terms of the Plan as in effect for any other purpose.  The special terms and any appendices, supplements, amendments, restatements or alternative versions, however, shall not include any provisions that are inconsistent with the terms of the Plan as then in effect, unless the Plan could have been amended to eliminate such inconsistency without further approval by the Board of Directors. 

22.    Governing Law.  

The Plan shall be governed by and shall be construed and enforced in accordance with the laws of the State of Delaware without giving effect to its choice of law rules. 

23.    Effective Date of the Plan; Termination of the Plan.  

The Plan shall become effective upon its approval by the Board of Directors and a majority of the shares present at a duly called meeting of the shareholders of the Company held within twelve months of approval by the Board of Directors.  However, Awards may be granted at any time following the approval of the Plan by the Board of Directors, but no Shares may be issued pursuant to any Awards until the Plan has been approved by the shareholders, and all listing requirements of all securities exchanges on which the Common Stock is listed have been satisfied.  Awards may be granted under the Plan at any time and from time to time on or prior to November 15, 2022, the tenth anniversary of the effective date of the Plan, on which date the Plan will expire except as to Awards then outstanding under the Plan; provided, however, in no event may an ISO be granted more than ten years after the earlier of (a) the date of the adoption of the Plan by the Board of Directors or (b) the effective date of the Plan as provided in the first sentence of this Paragraph.  Such outstanding Awards shall remain in effect until they have been exercised or terminated, or have expired.  For the avoidance of doubt, if the Plan is not approved by shareholders at the 2013 Annual Meeting, then the Jacobs Engineering Group Inc. 1999 Stock Incentive Plan, as in effect immediately prior to the adoption of this restated version on November 15, 2012, shall continue to exist and operate according to all of the terms and conditions of such prior version.  

32

Exhibit 10.1

24.    Section 409A.  

This Plan is intended to comply and shall be administered in a manner that is intended to comply with Section 409A and shall be construed and interpreted in accordance with such intent.  To the extent that an Award or the payment, settlement or deferral thereof is subject to Section 409A, the Award shall be granted, paid, settled or deferred in a manner that will comply with Section 409A, including regulations or other guidance issued with respect thereto, except as otherwise determined by the Committee.  Any provision of this Plan that would cause the grant of an Award or the payment, settlement or deferral thereof to fail to satisfy Section 409A shall be amended to comply with Section 409A on a timely basis, which may be made on a retroactive basis, in accordance with regulations and other guidance issued under Section 409A.

33

Exhibit 10.1

SCHEDULE A
to the 
JACOBS ENGINEERING GROUP INC. 
1999 Stock Incentive Plan, as Amended and Restated 

Treatment of Options and SARs

	
					
	Event
	 
	Impact on Vesting
	 
	Impact on Exercise Period

	Employment terminates due to Retirement
	 
	Unvested Options and SARs are forfeited
	 
	Expiration date provided in the Award Agreement continues to apply

	Employment terminates due to Disability or death
	 
	All Options and SARs become immediately vested
	 
	Expiration date provided in the Award Agreement continues to apply

	Employment terminates in a Qualifying Termination within two years following a Change in Control
	 
	All Options and SARs become immediately vested
	 
	Expire on the earlier to occur of (1) the expiration date provided in the Award Agreement, or (2) two years from the date of termination

	Employment terminates for reasons other than a Change in Control, Disability, Retirement, or death (for purposes of this section, the receipt of severance pay or similar compensation by the Award recipient does not extend his or her termination date)
	 
	Unvested Options and SARs are forfeited
	 
	Expires on the earlier to occur of (1) the expiration date provided in the Award Agreement, or (2) three months from the date of termination

	Participant is an employee of a Related Company, and the Company's investment in the Related Company falls below 20% (this constitutes a termination of employment under the Plan)
	 
	Unvested Options and SARs are forfeited
	 
	Expires on the earlier to occur of (1) the expiration date provided in the Award Agreement, or (2) three months from the date of termination

	Employee becomes an employee of an entity in which the Company's ownership interest is less than 20% (this constitutes a termination of employment under the Plan)
	 
	Unvested Options and SARs are forfeited
	 
	Expires on the earlier to occur of (1) the expiration date provided in the Award Agreement, or (2) three months from the date of termination

	Employment transferred to a Related Company
	 
	Vesting continues after transfer
	 
	Expiration date provided in the Award Agreement continues to apply

	Death after termination of employment but before Option/SAR has expired
	 
	Not applicable
	 
	Right of executor or administrator of estate (or other transferee permitted under Plan or Award Agreement) terminates on the earlier to occur of (1) the expiration date provided in the Award Agreement, or (2) the expiration date that applied immediately prior to the death

	A Change in Control occurs and Options and/or SARs are not assumed and continued
by the acquiring or surviving corporation in 
the transaction (or a parent corporation thereof)
	 
	All Options and SARs become immediately vested
	 
	Expires on the date of the Change in Control; provided that the Employee is given at least 15 days' notice of such termination and the opportunity to exercise outstanding Options during such notice period.

34

Exhibit 10.1

SCHEDULE B 
to the 
JACOBS ENGINEERING GROUP INC. 
1999 Stock Incentive Plan, as Amended and Restated 

Treatment of Restricted Stock and Restricted Stock Units

	
			
	Event
	 
	Impact of Event

	Employee's employment terminates due to Retirement
	 
	Unvested Restricted Stock and Restricted Stock Units are forfeited upon Retirement

	Employee's employment terminates due to Disability or death
	 
	The restrictions on all unvested Restricted Stock shall immediately lapse and unvested Restricted Stock Units become immediately vested; provided, however, that any awards of Restricted Stock and/or Restricted Stock Units that are subject to performance-based vesting criteria shall remain outstanding and continue to vest or become earned based upon the Company's actual performance through the end of the applicable performance period

	Employment terminates in a Qualifying Termination within two years following a Change in Control
	 
	The restrictions on all unvested Restricted Stock shall immediately lapse and unvested. Restricted Stock Units become immediately vested; provided, however, that any awards of Restricted Stock and/or Restricted Stock Units that are subject to performance-based vesting criteria shall be paid at a level based upon the Company's actual performance as of the applicable Qualifying Termination.  

	Employee's employment terminates for reasons other than a Change in Control, Disability, Retirement or death (for purposes of this section, the receipt of severance pay or similar compensation by the Employee does not extend his or her termination date)
	 
	Unvested Restricted Stock and Restricted Stock Units are forfeited

	Employee is an employee of a Related Company, and the Company's investment in the Related Company falls below 20% (this constitutes a termination of employment under the Plan effective as of the date the Company's investment in the Related Company falls below 20%)
	 
	Unvested Restricted Stock and Restricted Stock Units are forfeited

	Employee becomes an employee of an entity in which the Company's ownership interest is less than 20% (this constitutes a termination of employment under the Plan effective as of the date the Employee becomes an employee of the entity in which the Company's ownership interest is less than 20%)
	 
	Unvested Restricted Stock and Restricted Stock Units are forfeited

	Employment transferred to a Related Company
	 
	The restrictions on unvested Restricted Stock shall continue to lapse and Restricted Stock Units continue to vest after the transfer, subject to the Company's actual performance with respect to any applicable performance-based vesting criteria

	A Change in Control occurs and Restricted Stock and/or Restricted Stock Units are not assumed and continued by the acquiring or surviving corporation in the transaction (or a parent corporation thereof)
	 
	The restrictions on all unvested Restricted Stock shall immediately lapse and unvested Restricted Stock Units become immediately vested; provided, however, that any awards of Restricted Stock and/or Restricted Stock Units that are subject to performance-based vesting criteria shall be paid at a level based upon the Company’s actual performance as of the applicable Change in Control.

35Exhibit
10.1

 

AMENDED AND RESTATED

REVOLVING CREDIT 

AND GUARANTY AGREEMENT

dated as of January 27, 2014

among

CIT GROUP INC.,

CERTAIN SUBSIDIARIES OF CIT GROUP INC.,

THE LENDERS PARTY HERETO FROM TIME
TO TIME,

BANK OF AMERICA, N.A.,

as Administrative Agent and L/C Issuer

——————————————————————————————

 

MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED,

BARCLAYS BANK PLC,

CREDIT SUISSE SECURITIES (USA) LLC, 

J.P. MORGAN CHASE BANK, N.A. 

and

MORGAN STANLEY SENIOR FUNDING, INC.,

as Joint Lead Arrangers and Joint Bookrunners

 

BARCLAYS BANK PLC,

CREDIT SUISSE SECURITIES (USA) LLC, 

J.P. MORGAN CHASE BANK, N.A.

and

MORGAN STANLEY SENIOR FUNDING, INC.,

as Syndication Agents

——————————————————————————————

$1,500,000,000 Revolving Credit Facility

——————————————————————————————

 

    	 

    	 

    

TABLE OF CONTENTS

Page

SECTION 1.

DEFINITIONS AND INTERPRETATION

	1.1	Definitions	1
	1.2	Accounting Terms	37
	1.3	Interpretation, etc	37
	1.4	Exchange Rates; Currency Equivalents	38
	1.5	Additional Alternative Currencies	38
	1.6	Change of Currency	39
	1.7	Times of Day	39
	1.8	Letter of Credit Amounts	39
	1.9	Type of Loans and Borrowings	39

SECTION 2.

LOANS

	2.1	Loans	39
	2.2	Applicable Percentages; Availability of Funds	41
	2.3	Use of Proceeds	41
	2.4	Evidence of Debt; Register; Lenders’ Books and Records; Notes	41
	2.5	Interest on Loans	42
	2.6	Conversion/Continuation	43
	2.7	Default Interest	44
	2.8	Fees	44
	2.9	Voluntary Prepayments and Commitment Reductions	45
	2.10	Mandatory Prepayments; Commitment Termination	45
	2.11	Application of Commitment Reductions and Payments	46
	2.12	General Provisions Regarding Payments	46
	2.13	Ratable Sharing	47
	2.14	Making or Maintaining LIBOR Rate Loans	48
	2.15	Increased Costs; Capital Adequacy; Reserves on LIBOR Rate Loans	50
	2.16	Taxes; Withholding, etc	51
	2.17	Obligation to Mitigate	55
	2.18	Defaulting Lenders	55
	2.19	Removal or Replacement of a Lender	57
	2.20	Letters of Credit	58

SECTION 3.

CONDITIONS PRECEDENT

	3.1	Conditions
to Initial Extensions of Credit	65
	3.2	Conditions to Each Credit Extension	67

    	 

    	 

    

SECTION 4.

REPRESENTATIONS AND WARRANTIES

	4.1	Organization; Requisite Power and Authority; Qualification	67
	4.2	Capital Stock and Ownership	68
	4.3	Due Authorization	68
	4.4	No Conflict	68
	4.5	Governmental Consents	68
	4.6	Binding Obligation	68
	4.7	Historical Financial Statements	69
	4.8	Adverse Proceedings, etc.	69
	4.9	Payment of Taxes	69
	4.10	Properties	69
	4.11	Environmental Matters	70
	4.12	No Defaults	70
	4.13	Governmental Regulation	70
	4.14	Margin Stock	70
	4.15	Employee Matters	71
	4.16	Employee Benefit Plans	71
	4.17	Solvency	72
	4.18	Compliance with Statutes, etc.	72
	4.19	Disclosure	72
	4.20	Terrorism Laws, FCPA and Sanctions	72
	4.21	Insurance	73
	4.22	Intellectual Property	73
	4.23	Permits, etc.	73

SECTION 5.

AFFIRMATIVE COVENANTS

	5.1	Financial Statements and Other Reports	74
	5.2	Existence	76
	5.3	Payment of Taxes and Claims	77
	5.4	Maintenance of Properties	77
	5.5	Insurance	77
	5.6	Books and Records; Inspections	77
	5.7	Compliance with Laws	78
	5.8	Environmental	78
	5.9	Additional Guarantors	79
	5.10	Designation of Restricted and Unrestricted Subsidiaries	79
	5.11	Ratings	79
	5.12	Use of Proceeds	79

    	-i-

    	 

    

SECTION 6.

NEGATIVE COVENANTS

	6.1	Liens	80
	6.2	Restricted Payments	82
	6.3	Financial Covenants	83
	6.4	Merger, Consolidation or Sale of All or Substantially All Assets	83
	6.5	Negative Pledges	84

SECTION 7.

GUARANTY

	7.1	Guaranty of the Obligations	85
	7.2	Contribution by Guarantors	85
	7.3	Payment by Guarantors	86
	7.4	Liability of Guarantors Absolute	86
	7.5	Waivers by Guarantors	88
	7.6	Guarantors’ Rights of Subrogation, Contribution, etc.	88
	7.7	Subordination of Other Obligations	89
	7.8	Continuing Guaranty	89
	7.9	Authority of Guarantors or Borrower	89
	7.10	Financial Condition of Borrower	89
	7.11	Bankruptcy, etc	90
	7.12	Discharge of Guaranty Upon Sale of Guarantor	90
	7.13	Taxes	90

SECTION 8.

EVENTS OF DEFAULT

	8.1	Events of Default	91

SECTION 9.

AGENTS

	9.1	Appointment of Administrative Agent, Arrangers and Other Agents	93
	9.2	Powers and Duties	94
	9.3	General Immunity	94
	9.4	Agents Entitled to Act as Lender	96
	9.5	Lenders’ Representations, Warranties and Acknowledgment	97
	9.6	Right to Indemnity	97
	9.7	Successor Administrative Agent	98
	9.8	Proofs of Claim	99
	9.9	Arrangers and Other Agents	99
	9.10	Tax Indemnification	99
	9.11	Pay-Off Letter	100

    	-ii-

    	 

    

SECTION 10.

MISCELLANEOUS

	10.1	Notices	100
	10.2	Expenses	101
	10.3	Indemnity	102
	10.4	Set Off	103
	10.5	Amendments and Waivers	104
	10.6	Successors and Assigns; Participations	105
	10.7	Survival of Representations, Warranties and Agreements	109
	10.8	No Waiver; Remedies Cumulative	109
	10.9	Marshalling; Payments Set Aside	109
	10.10	Severability	109
	10.11	Obligations Several; Independent Nature of Lenders’ Rights	109
	10.12	Headings	110
	10.13	APPLICABLE LAW	110
	10.14	CONSENT TO JURISDICTION	110
	10.15	WAIVER OF JURY TRIAL	110
	10.16	Confidentiality	111
	10.17	Usury Savings Clause	112
	10.18	Guaranty	113
	10.19	Patriot Act	113
	10.20	Disclosure	113
	10.21	Electronic Execution of Assignments	113
	10.22	No Fiduciary Duty	114
	10.23	Entire Agreement	114

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

    	-iii-

    	 

    

AMENDED AND RESTATED REVOLVING
CREDIT AND GUARANTY AGREEMENT

This AMENDED AND RESTATED REVOLVING
CREDIT AND GUARANTY AGREEMENT, dated as of January 27, 2014, is entered into by and among CIT GROUP INC., a Delaware
corporation (“Borrower”), CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors, the Lenders party hereto from
time to time and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, or any successor thereto pursuant to
the terms hereof, “Administrative Agent”) and L/C Issuer.

RECITALS:

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

WHEREAS, Borrower, the Lenders party
thereto, Bank of America, N.A., as administrative agent, and the other parties thereto are parties to that certain Credit Agreement,
dated as of August 25, 2011 (as amended prior to the date hereof, the “Original Credit Agreement”); and

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

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

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

SECTION
1.

DEFINITIONS AND INTERPRETATION

1.1             
Definitions.

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

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

“Acceptable Collateralization”
means, at the L/C Issuer’s election, (i) cash collateralization of all L/C Obligations arising under Letters of Credit issued
by the L/C Issuer in an aggregate amount equal to percentages of such L/C Obligations reasonably acceptable to the L/C Issuer and
pursuant to pledge documentation reasonably satisfactory to the L/C Issuer, (ii) issuance to the L/C Issuer of back-to-back letters
of credit from one or more financial institutions reasonably acceptable to the L/C Issuer with aggregate face amounts equal to
percentages of such L/C Obligations reasonably

    	 

    	 

    

acceptable to the L/C Issuer and in form reasonably satisfactory
to the L/C Issuer or (iii) to the extent requested by Borrower, the “grandfathering” of all Letters of Credit issued
by the L/C Issuer under a replacement revolving credit facility reasonably acceptable to the L/C Issuer.

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

“Adjusted LIBOR Rate”
means:

(a)               
for any Interest Rate Determination Date with respect to an Interest Period for a LIBOR Rate Loan, the rate per annum obtained
by dividing (i) the rate per annum (rounded to the nearest one hundredth of one percent (1/100 of 1%)) equal to the rate determined
by Administrative Agent to be the offered rate which appears on the applicable Reuters Screen (or such other commercially available
source providing such quotations as may be designated by the Administrative Agent from time to time) which displays the London
Interbank Offered Rate (“LIBOR”) or a comparable or successor rate, which comparable or successor rate is approved
by the Administrative Agent, acting reasonably, determined as of approximately 11:00 a.m. (London, England time) on such Interest
Rate Determination Date, by (ii) an amount equal to (x) one, minus (y) the Applicable Reserve Requirement; and

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

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

“Administrative Agent”
as defined in the preamble hereto.

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

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

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

    	-2-

    	 

    

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

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

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

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

“Aggregate Payments”
as defined in Section 7.2.

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

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

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

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

“Applicable Margin”
means the applicable percentage per annum set forth below determined by reference to the Debt Rating to be effective promptly after
(i) public announcement of any change of Borrower’s Debt Rating or (ii) delivery of written notice of any change of Borrower’s
Debt Rating by Borrower to the Administrative Agent. In the case of a split rating and the ratings differential is one level (which
includes a +, -, 1, 2 or 3 signifier), the higher rating will apply. In the case of a split rating and the ratings differential
is more than one level, the rating that is one level higher than the lower rating will apply. If only one (but not both) Debt Rating
is in effect, the Applicable Margin shall be

    	-3-

    	 

    

determined by reference to the Pricing Level in which such
rating falls and if no Debt Rating is in effect, then each of S&P and Moody’s shall be deemed to have established a rating
in Pricing Level IV.

	Pricing Level	Debt Rating

(S&P/Moody’s)	Applicable Margin for 

LIBOR Rate Loans	Applicable Margin for Base Rate Loans
	I	≥ BB+ / Ba1	2.000%	1.000%
	II	BB / Ba2	2.250%	1.250%
	III	BB- / Ba3	2.500%	1.500%
	IV	≤ B+ / B1	2.750%	1.750%

 

“Applicable Percentage”
means, (a) with respect to any Tranche 1 Lender at any time, the percentage (carried out to the ninth decimal place) of the Tranche
1 Total Commitments represented by such Lender’s Tranche 1 Commitment at such time, subject to adjustment as provided in
Section 2.18, provided that if the Tranche 1 Commitments have been terminated, then the Applicable Percentage of each Tranche
1 Lender shall be based on the Applicable Percentage of such Tranche 1 Lender most recently in effect, giving effect to any subsequent
assignments, (b) with respect to any Tranche 2 Lender at any time, the percentage (carried out to the ninth decimal place) of the
Tranche 2 Total Commitments represented by such Lender’s Tranche 2 Commitment at such time, subject to adjustment as provided
in Section 2.18, provided that if the Tranche 2 Commitments have been terminated, then the Applicable Percentage of each
Tranche 2 Lender shall be based on the Applicable Percentage of such Tranche 2 Lender most recently in effect, giving effect to
any subsequent assignments, and (c) with respect to any Lender at any time, the percentage (carried out to the ninth decimal place)
of the Total Commitments represented by such Lender’s Commitments at such time, subject to adjustment as provided in Section
2.18, provided that if the Commitments have been terminated, then the Applicable Percentage of each Lender shall be based
on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent assignments. The initial Applicable
Percentage of each Tranche 1 Lender and each Tranche 2 Lender is set forth opposite the name of such Lender on Schedule 2.1 or
in the Assignment Agreement pursuant to which such Lender becomes a party hereto, as applicable.

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

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

    	-4-

    	 

    

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

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

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

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

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

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

“Attributable Indebtedness”
in respect of a Sale and Leaseback Transaction, means, as of the date of determination thereof, without duplication, the present
value (discounted at the rate per annum equal to the rate of interest implicit in the lease involved in such Sale and Leaseback
Transaction, as determined in good faith by Borrower) of the obligation of the lessee thereunder for rental payments (excluding,
however, any amounts required to be paid by such lessee, whether or not designated as rent or additional rent, cost or expense
reimbursement or indemnity on account of maintenance and repairs, insurance, taxes, assessments, water rates or similar charges
or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales or similar contingent amounts)
during the remaining term of such lease (including any period for which such lease has been extended or may, at the option of the
lessor, be extended). In the case of any lease which is terminable by the lessee upon the payment of a penalty, such rental payments
shall also include the amount of such penalty, but no rental payments of any kind shall be considered as required to be paid under
such lease subsequent to the first date upon which it may be terminated without penalty.

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

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

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

“Bank Activities” means
(i) 23A Transactions and (ii) any transfer or transfers of assets, Liens, Indebtedness, subordinations, participations, payments,
assignments, reimbursements, purchases,

    	-5-

    	 

    

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

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

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

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

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

“Base Rate” means, for
any day, a rate per annum equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Effective Rate
in effect on such day plus 0.5% and (iii) the Adjusted LIBOR Rate for a LIBOR Rate Loan with a one-month Interest Period
commencing on such date plus 1.0%. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Effective
Rate shall be effective on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.

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

“Beneficial Owner”
has the meaning assigned to such term in Rule 13d-3 and Rule

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

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

    	-6-

    	 

    

“Board of Directors”
means:

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

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

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

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

“Borrower” as defined
in the preamble hereto.

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

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

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

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

“Capital Stock” means:

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

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

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

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

    	-7-

    	 

    

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

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

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

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

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

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

    	-8-

    	 

    

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

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

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

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

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

“Closing Date” means
January 27, 2014, the first date all the conditions precedent in Section 3.1 are satisfied or waived in accordance with Section
10.5.

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

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

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

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

 

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

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

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

    	-9-

    	 

    

“Contributing Guarantors”
as defined in Section 7.2.

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

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

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

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

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

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

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

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

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

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

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

    	-10-

    	 

    

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

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

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

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

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

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

    	-11-

    	 

    

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(xiii)no such aircraft shall
be leased to a lessee that is a Restricted Party; provided that if the lessee becomes a Restricted Party after the date the applicable
aircraft and lease with such lessee were included in the determination of the Guarantor Asset Coverage Ratio, the leasing of such
aircraft to such lessee shall not continue for the later of (x) more than 120 days after the

    	-12-

    	 

    

applicable Credit Party becomes aware of such event
and (y) the period the applicable Credit Party is mandatorily prevented by operation of law from repossessing such aircraft, but
in no event longer than 180 days after the applicable Credit Party becomes aware of such event.

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

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

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

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

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

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

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

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

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

    	-13-

    	 

    

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

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

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

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

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

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

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

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

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

“Emerging Markets” means
(i) the following countries in Asia: China, India, Indonesia, South Korea, Malaysia, Philippines, Sri Lanka, Taiwan,
Thailand and Vietnam; (ii) countries in the European Union whose sovereign credit rating is not BBB- or higher by S&P and Baa3
or higher by Moody’s, all countries in Africa, Bahrain, Brunei, Bulgaria, Croatia, Israel, Jordan, Kuwait, Qatar, Romania,
Russia, Saudi Arabia, Turkey, Ukraine and the United Arab Emirates and (iii) Mexico and all countries in South America and Central
America. Each of clause (i), (ii) and (iii) in this definition constitutes a region of Emerging Markets.

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

    	-14-

    	 

    

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

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

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

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

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

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

“ERISA Event” means
(i) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with respect
to any Pension Plan (excluding those for which the provision for 30-day notice to the PBGC has been waived by regulation); (ii)
the failure to meet the minimum funding standard of Section 412 or 430 of the Internal Revenue Code with respect to any Pension
Plan (whether or not waived in accordance with Section 412(c) of the Internal Revenue Code) or the failure to make by its due date
a required contribution or installment under Section 430(j) of the Internal Revenue Code with respect to any Pension Plan or the
failure to make any required contribution to a Multiemployer Plan; (iii) notice of intent to terminate a Pension Plan in a distress
termination described in Section 4041(c) of ERISA; (iv) the withdrawal by Borrower, any of its Subsidiaries or any of their respective
ERISA Affiliates from any Pension Plan with two or more non-related contributing sponsors or the termination of any such Pension
Plan resulting in liability to Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates pursuant to Section
4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event

    	-15-

    	 

    

or condition which might reasonably constitute grounds under
ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (vi) the imposition of liability
on Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or
by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of Borrower, any of its Subsidiaries or any of their
respective ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any
Multiemployer Plan if there is any liability or Borrower’s reasonable expectation of liability therefor, or the receipt by
Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is
in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under
Section 4041A or 4042 of ERISA; (viii) the occurrence of an act or omission which could give rise to the imposition on Borrower,
any of its Subsidiaries or any of their respective ERISA Affiliates of fines, penalties, taxes or related charges under Chapter
43 of the Internal Revenue Code or under Section 409, Section 502(c), (i) or (l), or Section 4071 of ERISA in respect of any Employee
Benefit Plan; (ix) the assertion of a material claim (other than routine claims for benefits) against any Employee Benefit Plan
or the assets thereof, or against Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates in connection with
any Employee Benefit Plan; (x) receipt from the Internal Revenue Service of notice of the failure of any Pension Plan (or any other
Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue Code) to qualify under Section 401(a)
of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from taxation
under Section 501(a) of the Internal Revenue Code; or (xi) the imposition of a Lien or security interest pursuant to Section 430(k)
of the Internal Revenue Code or pursuant to ERISA or a violation of Section 436 of the Internal Revenue Code with respect to any
Pension Plan.

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

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

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

“Excluded Taxes” of
a Person means (a) any Tax imposed on or measured by net income, profits or gain by the jurisdiction in which a Person is organized
or in which that Person’s applicable principal office (and/or, in the case of a Lender, its lending office) is located or
in which that Person (and/or, in the case of a Lender, its lending office) is deemed to be doing business or has a present or former
connection (other than a business or connection arising solely from having executed, delivered, enforced, become a party to, performed
its obligations, received payments, received or perfected a security interest under, and/or engaged in any other transaction pursuant
to, any Credit Document), (b) any Tax in the nature of the branch profits tax imposed by Section 884(a) of the Internal Revenue
Code that is imposed by any jurisdiction described in clause (a) above, (c) any withholding tax that is

    	-16-

    	 

    

attributable to a Lender’s failure to comply with Section
2.16(e), (d) any U.S. federal withholding tax imposed pursuant to Sections 1471 through 1474 of the Internal Revenue Code, as of
the Closing Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply
with) and any current or future regulations or official interpretations thereof and (e) in the case of a Non-U.S. Lender, any U.S.
federal withholding tax imposed pursuant to any laws in effect at the time such Non-U.S. Lender becomes a party to this Agreement
(or designates a new lending office), except to the extent that such Non-U.S. Lender (or its assignor, if any) was entitled, immediately
prior to designation of a new lending office (or assignment), to receive additional amounts from a Credit Party with respect to
such withholding tax pursuant to Section 2.16.

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

“Fair Share” as defined
in Section 7.2.

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

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

“FDIC” means the Federal
Deposit Insurance Corporation.

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

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

“Final Maturity Date”
means January 27, 2017.

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

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

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

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

    	-17-

    	 

    

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

“Fraudulent Conveyance”
as defined in Section 7.1.

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

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

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

“Funding Guarantor”
as defined in Section 7.2.

“Funding Notice” means
a notice substantially in the form of Exhibit A-1.

“GAAP” as defined in
Section 1.2.

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

“Governmental Authority”
means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local,
and any agency, authority, instrumentality, regulatory body, court, central bank or other entity or Person exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national
bodies such as the European Union or the European Central Bank).

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

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

“Guaranteed Obligations”
as defined in Section 7.1.

“Guarantor Asset Coverage Ratio”
means, with respect to any date of determination, the ratio of (A) the sum of, without duplication, (i) the Carrying Value of (1)
all Eligible Finance Receivables, (2) all Eligible Aircraft and (3) all Eligible Railcars (provided that, in the case of
each of

    	-18-

    	 

    

clauses (1), (2) and (3), Borrower may elect to exclude any
asset or any portion thereof from such calculation), plus (ii) unrestricted Cash and Cash Equivalents owned directly by Guarantors
and held in Deposit Accounts and Securities Accounts at the Administrative Agent or another Lender to (B) the sum of (i) the Total
Commitments on such date plus (ii) the aggregate amount of all outstanding Indebtedness for borrowed money (including, without
duplication, Guarantees of such Indebtedness) of the Guarantors (excluding Subordinated Intercompany Indebtedness) on such date;
provided that no more than one-half of the amount in clause (A) shall consist of the Carrying Value of Eligible Aircraft.

The Carrying Value of Eligible Finance
Receivables, Eligible Aircraft and Eligible Railcars, as of any date of calculation, shall be the Carrying Value thereof as of
the last day of the most recent month for which the Officer’s Certificate pursuant to Section 5.1(c) has been or was required
to be delivered on or prior to such date of calculation, as adjusted to:

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

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

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

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

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

“Guarantors” means:

(1)each of the following Subsidiaries
of Borrower:

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

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

    	-19-

    	 

    

CIT Lending Services Corporation,
a Delaware corporation;

CIT Healthcare LLC, a Delaware
limited liability company;

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

CIT Financial USA, Inc., a Delaware
corporation;

CIT Technology Financing Services,
Inc., a Massachusetts corporation; and

CIT Capital USA Inc., a Delaware
corporation; and

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

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

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

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

“Hazardous Materials Activity”
means any past or current activity, event or occurrence involving any Hazardous Materials, including the use, manufacture, possession,
storage, holding, presence, existence, location, Release, threatened Release, discharge, placement, generation, transportation,
processing, construction, treatment, abatement, removal, remediation, disposal, disposition or handling of any Hazardous Materials,
and any corrective action or response action with respect to any of the foregoing.

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

“Historical Financial Statements”
means (i) the audited consolidated financial statements of Borrower and its Subsidiaries, consisting of a balance sheet and the
related consolidated statements of income, stockholders’ equity and cash flows, as of and for the Fiscal Year ended December
31, 2012, and (ii) unaudited consolidated financial statements of Borrower and its Subsidiaries, consisting of a balance sheet
and the related consolidated statements of income, stockholders’ equity and cash flows, as of and for the nine months ended
September 30, 2013.

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

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

“Immaterial Subsidiary”
means, as of any date, (unless such Subsidiary is otherwise classified as a Special Purpose Entity, Joint Venture or Regulated
Subsidiary) any Subsidiary (A) that (i)

    	-20-

    	 

    

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

“Increased Cost Lender”
as defined in Section 2.19.

“Indebtedness,” as applied
to any Person, means, without duplication, (i) all indebtedness for borrowed money; (ii) that portion of Capital Lease Obligations
that is properly classified as a liability on a balance sheet in conformity with GAAP; (iii) all obligations of such Person evidenced
by notes, bonds or similar instruments or upon which interest payments are customarily paid and all obligations in respect of drafts
accepted representing extensions of credit whether or not representing obligations for borrowed money; (iv) any obligation owed
for all or any part of the deferred purchase price of property or services (excluding obligations incurred in the Ordinary Course
of Business having a term of less than six (6) months that are not overdue by more than sixty (60) days) which purchase price is
(a) due more than six (6) months from the date of incurrence of the obligation in respect thereof or (b) evidenced by a note or
similar written instrument; (v) all obligations created or arising under any conditional sale or other title retention agreement
with respect to property acquired by such person; (vi) all indebtedness of the type described elsewhere in this definition secured
by any Lien on any property or asset owned or held by that Person regardless of whether such indebtedness secured thereby shall
have been assumed by that Person or is non-recourse to the credit of that Person; (vii) the face amount of any letter of credit
or letter of guaranty issued, bankers’ acceptances facilities, surety bond and similar credit transactions for the account
of that Person or as to which that Person is otherwise liable for reimbursement of drawings or drafts; (viii) the direct or indirect
guaranty, endorsement (otherwise than for collection or deposit in the ordinary course), co-making, discounting with recourse or
sale with recourse by such Person of the obligation of another of the type described in clauses (i) through (vii) or clauses (xi)
through (xiii); (ix) any obligation of such Person the primary purpose or intent of which is to provide assurance to an obligee
that the obligation of the type described in clauses (i) through (vii) or clauses (xi) through (xiii) of the obligor thereof will
be paid or discharged, or any agreement relating thereto will be complied with, or the holders thereof will be protected (in whole
or in part) against non-payment or non-discharge in respect thereof; (x) any liability of such Person for an obligation of the
type described in clauses (i) through (vii) or clauses (xi) through (xiii) of another through any agreement (contingent or otherwise)
(a) to purchase, repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for the payment
or discharge of such obligation (whether in the form of loans, advances, stock purchases, capital contributions or otherwise) or
(b) to maintain the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any
agreement described under subclause (a) or (b) of this clause (x), the primary purpose or intent thereof is as described in clause
(ix) above; (xi) all obligations of such Person in respect of any exchange traded or over the counter derivative transaction valued
at the termination value thereof, including any Rate Management Transaction, whether entered into for hedging or speculative purposes;
(xii) the maximum fixed redemption or repurchase price of all Disqualified Stock of such Person; and (xiii) all Attributable Indebtedness
of such Person. Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture in which such Person
is a general partner or joint venturer, unless such Indebtedness is expressly or by operation of law non-recourse to such Person.

    	-21-

    	 

    

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

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

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

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

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

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

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

“Interest Period” means,
in connection with a LIBOR Rate Loan, an interest period of one, two, three or six months or, if each applicable Lender agrees,
an interest period of twelve months, as selected by Borrower in the applicable Funding Notice or Conversion/Continuation Notice,
(i) initially, commencing on the Credit Date or Conversion/Continuation Date thereof, as the case may be; 

    	-22-

    	 

    

and (ii) thereafter, commencing on the day on which the immediately
preceding Interest Period expires; provided that (a) if an Interest Period would otherwise expire on a day that is not a
Business Day, such Interest Period shall expire on the next succeeding Business Day, unless no further Business Day occurs in such
month, in which case such Interest Period shall expire on the immediately preceding Business Day; (b) any Interest Period that
begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar
month at the end of such Interest Period) shall, subject to clause (c) of this proviso, end on the last Business Day of a calendar
month; and (c) no Interest Period shall extend beyond the Final Maturity Date.

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

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

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

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

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

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

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

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

    	-23-

    	 

    

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

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

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

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

“L/C Issuer” means Bank
of America, in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

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

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

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

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

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

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

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

    	-24-

    	 

    

of any Letter of Credit issued for the account of any customer
of Borrower or any Subsidiary, at the L/C Issuer’s election, shall be executed by both (i) Borrower or the applicable L/C
Subsidiary and (ii) such customer) and, as applicable, shall include such general acceptance agreements, applications, certificates
and other documents, as L/C Issuer may require in connection with the creation of Bankers’ Acceptances.

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

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

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

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

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

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

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

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

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

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

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

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

    	-25-

    	 

    

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

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

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

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

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

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

“Obligee Guarantor”
as defined in Section 7.7.

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

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

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

    	-26-

    	 

    

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

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

“Other Agent” means
each of the Syndication Agents.

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

“Other Taxes” means
any and all present or future stamp, registration, recording, filing, transfer, documentary, excise or property Taxes, charges
or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with
respect to or in connection with, any Credit Document, excluding any such Tax imposed as a result of an assignment by a Lender
(“Assignment Tax”), if the Lender has a present or former connection with the jurisdiction imposing such Assignment
Tax (other than a connection arising solely from having executed, delivered, enforced,

    	-27-

    	 

    

become a party to, performed its obligations, received payments,
received or perfected a security interest under, and/or engaged in any other transaction pursuant to, any Credit Document).

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

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

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

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

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

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

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

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

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

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

“Permitted Aircraft Liens”
means (i) Liens described under clause (a)(x) in the definition of “Other Permitted Liens,” (ii) any Lien of landlords,
carriers, warehousemen, hanger keepers, mechanics, suppliers, repairmen, workmen, materialmen and the like (including liens for
airport, navigation, and other en-route charges) arising in the ordinary course of business by operation of Law (or under customary
terms of repair or modification agreements or any engine or parts-pooling arrangements) or similar Lien, in each case, (x) which
are either not overdue or are being contested in good faith by appropriate proceedings, and (y) securing obligations that are not
incurred in connection with the obtaining of any Indebtedness for borrowed money, and (iii) the lease pursuant to which the applicable

    	-28-

    	 

    

aircraft is leased or any sublease of such aircraft or any
liens incurred by lessees or sublessees in connection with such arrangements or in their interest in such lease or sublease.

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

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

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

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

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

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

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

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

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“Principal Office” means,
for each of the Administrative Agent and any Lender, such Person’s “Principal Office” (and account as appropriate)
as set forth on Appendix A, or such other office or account or office of a third party or sub-agent, as appropriate, as such Person
may from time to time designate in writing to Borrower and each Lender.

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

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

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

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

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

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

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

“Rate Management Transactions”
means any transaction (including an agreement with respect thereto) now existing or hereafter entered into by Borrower or any Restricted
Subsidiary which is a rate swap, basis swap, total return swap, forward rate transaction, commodity swap, commodity option, equity
or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction,
floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency
option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof,
whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures,
or the purchase of credit default swaps.

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

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

    	-30-

    	 

    

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

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

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

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

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

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

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

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

“Replacement Lender”
as defined in Section 2.19.

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

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

“Requisite Tranche 1 Lenders”
means one or more Lenders having or holding Tranche 1 Exposure representing more than fifty percent (50%) of the Tranche 1 Exposure
of all Lenders,

    	-31-

    	 

    

provided that the Tranche 1 Exposure held or deemed
held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Tranche 1 Lenders.

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

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

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

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

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

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

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

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

“Sanctions” means the
economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted, or enforced by: (i) the United States
government, including, but not limited to, the Executive Order, the USA PATRIOT Act of 2001, the U.S. International Emergency Economic
Powers Act (50 U.S.C. §§ 1701 et seq.), the U.S. Trading with the Enemy Act (50 U.S.C. App. §§ 1 et seq.),
the U.S. United Nations Participation Act, the U.S. Syria Accountability and Lebanese Sovereignty Act, the U.S. Comprehensive Iran
Sanctions, Accountability, and Divestment Act of 2010 or the Iran Sanctions Act, Section 1245 of the National Defense Authorization
Act of 2012, The Iran

    	-32-

    	 

    

Freedom and Counter-Proliferation Act of 2012, the Iran Threat
Reduction and Syria Human Rights Act of 2012, all as amended, executive orders implementing these laws, or any of the foreign assets
control regulations (including, but not limited to, 31 C.F.R., Subtitle B, Chapter V, as amended); (ii) the United Nations; (iii)
the European Union; (iv) the United Kingdom; or (v) the respective governmental institutions and agencies of any of the foregoing,
including, without limitation, OFAC, the United States Department of State, her Majesty’s Treasury (“HMT”),
the United Nations Security Council (“UNSC”), Ireland, or other relevant sanctions authority (together, the
“Sanctions Authorities”).

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

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

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

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

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

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

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

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

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

    	-33-

    	 

    

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

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

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

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

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

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

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

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

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

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

    	-34-

    	 

    

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

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

“Terminated Lender”
as defined in Section 2.19.

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

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

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

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

“Tranche” means the
Tranche 1 Facility or the Tranche 2 Facility.

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

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

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

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

“Tranche 1 Loan” as
defined in Section 2.1(a)(i).

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

“Tranche 1 Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 1 Commitments at such time. The Tranche 1 Total Commitments
as of the Closing Date are $1,150,000,000.

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

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

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

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

“Tranche 2 Loan” as
defined in Section 2.1(a)(ii).

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

“Tranche 2 Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 2 Commitments at such time. The Tranche 2 Total Commitments
as of the Closing Date are $350,000,000.

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

“United States” means
the United States of America.

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

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

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

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

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

“Utah Bank” means CIT
Bank, a bank organized under the laws of the State of Utah (including, without limitation, any chartered or licensed banking institution
that is authorized to take deposits which is merged with or into CIT Bank or which is the successor in interest to CIT Bank).

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

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

1.2             
Accounting Terms.

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

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

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

1.3             
Interpretation, etc.

Any of the terms defined herein may, unless
the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Section,
Appendix, Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless otherwise
specifically provided. The use herein of the word “include” or “including,” when following any general
statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set
forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without
limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall
be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term or
matter. Unless otherwise indicated, any definition of or reference to any agreement, instrument or other document

    	-37-

    	 

    

herein shall be construed as referring to such agreement,
instrument or other document, as from time to time amended, supplemented or otherwise modified (subject to any restrictions on
such amendments, supplements or modifications set forth herein). Any reference to any law shall include all statutory and regulatory
provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless
otherwise specified, refer to such law or regulation, as amended, modified, replaced or supplemented from time to time. Capitalized
terms in this Agreement referring to any Person shall refer to such Person together with its successors and permitted assigns.

1.4             
Exchange Rates; Currency Equivalents.

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

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

1.5             
Additional Alternative Currencies.

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

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

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

    	-38-

    	 

    

1.6             
 Change of Currency.

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

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

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

1.7             
Times of Day.

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

1.8             
Letter of Credit Amounts.

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

1.9             
Type of Loans and Borrowings.

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

SECTION
2.

LOANS

2.1             
Loans.

(a)               
Loan Commitments.

(i)       Subject
to the terms and conditions hereof, each Tranche 1 Lender severally agrees to make loans (each such loan, a “Tranche
1 Loan”) to Borrower from time to time, on any

    	-39-

    	 

    

Business Day during the Availability Period; provided,
however, that after giving effect to any Borrowing of Tranche 1 Loans, (i) the Tranche 1 Outstandings shall not exceed the
Tranche 1 Total Commitments, and (ii) the aggregate Outstanding Amount of the Tranche 1 Loans of any Lender shall not exceed such
Lender’s Tranche 1 Commitment. Within the limits of each Lender’s Tranche 1 Commitment, and subject to the other terms
and conditions hereof, Borrower may borrow under this Section 2.1(a)(i), prepay under Section 2.9 or 2.10, and reborrow under this
Section 2.1(a)(i). Tranche 1 Loans may be Base Rate Loans or LIBOR Rate Loans, as further provided herein.

(ii)       Subject
to the terms and conditions hereof, each Tranche 2 Lender severally agrees to make loans (each such loan, a “Tranche 2
Loan”) to Borrower from time to time, on any Business Day during the Availability Period; provided, however,
that after giving effect to any Borrowing of Tranche 2 Loans, (i) the Tranche 2 Outstandings shall not exceed the Tranche 2 Total
Commitments, and (ii) the aggregate Outstanding Amount of the Tranche 2 Loans of any Lender, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Tranche 2 Commitment. Within the
limits of each Lender’s Tranche 2 Commitment, and subject to the other terms and conditions hereof, Borrower may borrow under
this Section 2.1(a)(ii), prepay under Section 2.9 or 2.10, and reborrow under this Section 2.1(a)(ii). Tranche 2 Loans may be Base
Rate Loans or LIBOR Rate Loans, as further provided herein.

(b)              
Borrowing Mechanics.

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

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

2.2             
Applicable Percentages; Availability of Funds.

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

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

2.3             
Use of Proceeds.

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

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

(a)               
Lenders’ Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing
the Obligations of Borrower to such Lender, including the amounts of the

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Loans made by it and each repayment and prepayment in respect
thereof. Any such recordation shall be conclusive and binding on Borrower absent manifest error; provided that the failure
to make any such recordation, or any error in such recordation, shall not affect any Lender’s Commitments or Borrower’s
Obligations in respect of any applicable Loans; and provided, further, in the event of any inconsistency between
the Register and any Lender’s records, the recordations in the Register shall govern.

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

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

2.5             
Interest on Loans.

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

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

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

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

(c)               
In connection with LIBOR Rate Loans, there shall be no more than ten (10) Interest Periods outstanding at any time. In the
event Borrower fails to specify between a Base Rate Loan or a LIBOR Rate Loan in the applicable Funding Notice or Conversion/Continuation
Notice, such Loan (if outstanding as a LIBOR Rate Loan) will be automatically converted into a Base Rate Loan on the last day of
the then current Interest Period for such Loan (or if outstanding as a Base Rate Loan will remain

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as, or (if not then outstanding) will be made as, a Base
Rate Loan). In the event Borrower fails to specify an Interest Period for any LIBOR Rate Loan in the applicable Funding Notice
or Conversion/Continuation Notice, Borrower shall be deemed to have selected an Interest Period of one month. As soon as practicable
after 10:00 a.m. on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent
manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for
which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing
or by telephone confirmed in writing) to Borrower and each Lender.

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

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

2.6             
Conversion/Continuation.

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

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

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

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

(b)              
Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. at least one Business
Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business
Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate

    	-43-

    	 

    

Loan). Except as otherwise provided herein, a Conversion/Continuation
Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate
Determination Date, and Borrower shall be bound to effect a conversion or continuation in accordance therewith.

2.7             
Default Interest.

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

2.8             
Fees.

(a)               
Borrower agrees to pay to each Lender a proportional amount of each of the following fees in accordance with such Lender’s
Applicable Percentages:

                                                       
(i)          an
aggregate commitment fee (“Commitment Fee”) equal to (x) the Commitment Rate Percentage times (y) (I)
with respect to Tranche 1 Lenders, the actual daily amount by which the Tranche 1 Total Commitments exceeds the Tranche 1 Outstandings
and (II) with respect to Tranche 2 Lenders, the actual daily amount by which the Tranche 2 Total Commitments exceeds the Tranche
2 Outstandings;

                                                     
(ii)          an
aggregate upfront fee (“Upfront Fee”) equal to 0.25% of the aggregate Commitments on the Closing Date; and

                                                   
(iii)          with
respect to Tranche 2 Lenders, an aggregate fee (“L/C Participation Fee”) equal to (x) the aggregate Dollar Equivalent
of the L/C Obligations on each day times (y) the Applicable Margin for LIBOR Rate Loans, provided, however,
any L/C Participation Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to
which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to Section 2.20 shall be
payable, to the maximum extent permitted by applicable Law, to the other Tranche 2 Lenders in accordance with the upward adjustments
in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.18, with the balance of such
fee, if any, payable to the L/C Issuer for its own account.

(b)              
Borrower agrees to pay to the L/C Issuer (i) a fronting fee equal to (x) 0.25% per annum times (y) the actual daily
amount of the aggregate Dollar Equivalent of all L/C Obligations; and (ii) customary issuance, presentation, amendment and other
processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit and bankers’ acceptances,
as from time to time in

    	-44-

    	 

    

effect ,as notified in writing from the L/C Issuer to the
Borrower (such fees in effect as of the date hereof, as provided to Borrower prior to or on the Closing Date). Such customary fees
and standard costs and charges are due and payable on demand and are nonrefundable.

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

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

2.9             
Voluntary Prepayments and Commitment Reductions.

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

(b)              
Any time and from time to time, Borrower may terminate or permanently reduce, in whole or in part, the Tranche 1 Total Commitments
or the Tranche 2 Total Commitments; provided that (i) notice of such termination or reduction shall be received by the Administrative
Agent not later than 11:00 a.m. five Business Days prior to the date of such termination or reduction, (ii) any such partial reduction
shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall
not terminate or reduce (A) the Tranche 1 Total Commitments if, after giving effect thereto and to any concurrent prepayments hereunder,
the Tranche 1 Outstandings would exceed the Tranche 1 Total Commitments or (B) the Tranche 2 Total Commitments if, after giving
effect thereto and to any concurrent prepayments hereunder, the Tranche 2 Outstandings would exceed the Tranche 2 Total Commitments.

2.10         
Mandatory Prepayments; Commitment Termination.

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

(b)              
If for any reason the Tranche 2 Outstandings at any time exceed the Tranche 2 Total Commitments, Borrower shall, within
three Business Days, prepay the Tranche 2 Loans and/or Cash Collateralize L/C Obligations in an aggregate amount sufficient to
reduce the Tranche 2 Outstandings as of such date of payment to an amount not to exceed the Tranche 2 Total Commitments; provided
that for this purpose only, L/C Obligations that are Cash Collateralized in an amount equal to the Applicable Cash Collateralization
Percentage of the amount of L/C Obligations shall be disregarded from the calculation of Tranche 2 Outstandings.

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(c)               
 The Commitments shall terminate on the Final Maturity Date. All Loans shall be due and payable on the Final Maturity Date.

2.11         
Application of Commitment Reductions and Payments.

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

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

(c)               
Any prepayment of Loans of any Tranche shall be applied first to Base Rate Loans of such Tranche to the full extent thereof
before application to LIBOR Rate Loans of such Tranche, in each case, in a manner which minimizes the amount of any payments required
to be made by Borrower pursuant to Section 2.14(c).

2.12         
General Provisions Regarding Payments.

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

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

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

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

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

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

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

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

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

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

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

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

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

2.13         
Ratable Sharing.

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

    	-47-

    	 

    

the Lenders ratably in accordance with the aggregate amount
of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as the case may be, provided
that:

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

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

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

2.14         
Making or Maintaining LIBOR Rate Loans.

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

Notwithstanding the foregoing, if the Administrative
Agent has made the determination described in clause (a) (i) of this section, the Administrative Agent, in consultation with the
Borrower and the affected Lenders, may establish an alternative interest rate for the Impacted Loans, in which case, such alternative
rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered
with respect to the Impacted Loans under clause (a) of the first sentence of this section (which it shall use commercially reasonable
efforts to do promptly upon cessation of the circumstances described therein), (2) the Administrative Agent or the affected Lenders
notify the Administrative Agent and the Borrower that such alternative interest rate does not adequately and fairly reflect the
cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines that any

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Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for such Lender or its applicable lending office to make, maintain or fund Loans whose interest
is determined by reference to such alternative rate of interest or to determine or charge interest rates based upon such rate or
any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides
the Administrative Agent and the Borrower written notice thereof.

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

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

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

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

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

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

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

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

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

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

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

2.16         
Taxes; Withholding, etc.

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

(b)              
Withholding of Taxes. If any Credit Party or any other Person is required by Law to make any deduction or withholding
on account of any Indemnified Tax or Other Taxes from any

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

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

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

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

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

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

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

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

(f)               
Treatment of Certain Refunds. If the Administrative Agent, a Lender or its respective Tax Related Persons has received
a refund of any Taxes as to which it has been indemnified by Borrower or with respect to which Borrower has paid additional amounts
pursuant to this Section 2.16, it shall pay to Borrower an amount equal to such refund (but only to the extent of indemnity payments
made, or additional amounts paid, by Borrower under this Section 2.16 with respect to the Taxes giving rise to such refund), net
of all out-of-pocket expenses of the Administrative Agent, such Lender or its respective Tax Related Persons (including any Taxes
imposed with respect to such refund), as is determined by the Administrative Agent, Lender or its respective Tax Related Persons
in reasonable

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discretion, and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund or credit); provided that Borrower, upon the written
request of the Administrative Agent, such Lender or its respective Tax Related Persons, agrees to repay the amount paid over to
Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent,
such Lender or its respective Tax Related Persons, in the event the Administrative Agent, such Lender or its respective Tax Related
Persons is required to repay such refund to such Governmental Authority. This paragraph shall not be construed to require the Administrative
Agent, any Lender or its respective Tax Related Persons to make available its tax returns (or any other information relating to
its taxes which it deems confidential) to Borrower or any other Person. Notwithstanding anything to the contrary in this paragraph
(f), in no event will the Administrative Agent or any Lender be required to pay any amount to the Borrower pursuant to this paragraph
(f) the payment of which would place the Administrative Agent or such Lender in a less favorable net after-Tax position than the
Administrative Agent or such Lender would have been in if the indemnification payments or additional amounts giving rise to such
refund had never been paid.

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

2.17         
Obligation to Mitigate.

Each Lender agrees that, as promptly as
practicable after the officer of such Lender responsible for administering its Loans becomes aware of the occurrence of an event
or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to
receive payments under Section 2.14, 2.15 or 2.16, it will, to the extent not inconsistent with the internal policies of such Lender
and any applicable legal or regulatory restrictions, use reasonable efforts to (a) make, issue, fund or maintain its Credit Extensions,
including any Affected Loans, through another office of such Lender, or (b) take such other measures as such Lender may deem reasonable,
if, as a result thereof, the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional
amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.14, 2.15 or 2.16 would be materially
reduced and if, as determined by such Lender in good faith, the making, issuing, funding or maintaining of such Commitments or
Loans through such other office or in accordance with such other measures, as the case may be, would not otherwise adversely affect
such Commitments or Loans or the interests of such Lender; provided that such Lender will not be obligated to utilize such
other office pursuant to this Section 2.17 unless Borrower agrees to pay all reasonable costs and expenses incurred by such Lender
as a result of utilizing such other office as described above. A certificate as to the amount of any such expenses payable by Borrower
pursuant to this Section 2.17 (setting forth in reasonable detail the basis for requesting such amount) submitted by such Lender
to Borrower (with a copy to Administrative Agent) shall be conclusive absent manifest error.

2.18         
Defaulting Lenders.

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

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

                                                     
(ii)          Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of that Defaulting Lender (whether

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

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

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

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

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

2.19         
Removal or Replacement of a Lender.

Anything contained herein to the contrary
notwithstanding, in the event that: (a) (i) any Lender (an “Increased Cost Lender”) shall give notice to Borrower
that such Lender is an Affected Lender or that such Lender is entitled to receive payments under Section 2.14, 2.15 or 2.16, (ii)
the circumstances which have caused such Lender to be an Affected Lender or which entitle such Lender to receive such payments
shall remain in effect, and (iii) such Lender shall fail to withdraw such notice within five Business Days after Borrower’s
request for such withdrawal; or (b) any Lender shall be a Defaulting Lender; or (c) in connection with any proposed amendment,
modification, termination, waiver or consent with respect to any of the provisions hereof, as contemplated by Section 10.5(b),
the consent of Requisite Lenders shall have been obtained, but the consent of one or more of such other Lenders (each, a “Non-Consenting
Lender”) whose consent is required shall not have been obtained (and, if such proposed amendment, modification, termination,
waiver or consent would have a disproportionate effect on any Tranche, the consent of the Requisite Tranche Lenders with respect
to such Tranche shall have been obtained); then, with respect to each such Increased Cost Lender, Defaulting Lender or Non-Consenting
Lender (the “Terminated Lender”), Borrower may, by giving written notice to Administrative Agent and any Terminated
Lender of its election to do so, elect to cause such Terminated Lender (and such Terminated Lender hereby irrevocably agrees) to
assign its outstanding Loans and Commitments in full to one or more Eligible Assignees (each, a “Replacement Lender”)
in accordance with the provisions of Section 10.6 and the Terminated Lender shall pay any fees payable thereunder in connection
with such assignment; provided that in connection with any such replacement, if any such Terminated Lender does not execute
and deliver to the Administrative Agent a duly executed Assignment Agreement reflecting such replacement within ten days of the
date on which the Replacement Lender executes and delivers such Assignment Agreement to such Terminated Lender, then such Terminated
Lender shall be deemed to have executed and delivered such Assignment Agreement without any action on the part of the Terminated
Lender; provided, further, that (1) on the date of such assignment, the Replacement Lender shall pay to Terminated
Lender an amount equal to the principal of all outstanding Loans of the Terminated Lender; (2) on the date of such assignment,
Borrower shall pay any amounts

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payable to such Terminated Lender pursuant to Section 2.14(c),
2.15 or 2.16 through such date; and (3) in the event such Terminated Lender is a Non-Consenting Lender, each Replacement Lender
shall consent, at the time of such assignment, to each matter in respect of which such Terminated Lender was a Non-Consenting Lender.
In accordance with the Assignment Agreement, interest and fees pursuant to Section 2.8 that accrued prior to the effective date
of the assignment shall be for the account of the Terminated Lender, and such amounts that accrue on and after the effective date
of the assignment shall be for the account of the Replacement Lender. Upon the prepayment of all amounts owing to any Terminated
Lender and the termination of such Terminated Lender’s Commitments such Terminated Lender shall no longer constitute a “Lender”
for purposes hereof; provided that any rights of such Terminated Lender to indemnification hereunder shall survive as to
such Terminated Lender. Each Replacement Lender shall cure any existing Funding Default of the applicable Defaulting Lender.

2.20         
Letters of Credit.

(a)               
The Letter of Credit Commitment.

(i)       Subject
to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Tranche 2 Lenders
set forth in this Section 2.20, (1) from time to time on any Business Day during the period from the Closing Date until the Letter
of Credit Expiration Date, to issue Letters of Credit denominated in Dollars or in one or more Alternative Currencies for the account
of (x) Borrower or any Subsidiary or (y) in the case of commercial Letters of Credit only, any customer of Borrower or any Subsidiary,
and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings
under the Letters of Credit; and (B) the Tranche 2 Lenders severally agree to participate in Letters of Credit issued for the account
of Borrower or any Subsidiary and any drawings thereunder; provided that after giving effect to any Credit Extension with
respect to any Letter of Credit, (I) the Tranche 2 Outstandings shall not exceed the aggregate amount of Tranche 2 Commitments,
and (II) the aggregate Dollar Equivalent of all L/C Obligations shall not exceed the L/C Sublimit. Each request by Borrower or
an L/C Subsidiary for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by Borrower that the
Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing
limits, and subject to the terms and conditions hereof, Borrower’s ability to obtain Letters of Credit shall be fully revolving,
and accordingly Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired
or that have been drawn upon and reimbursed. Borrower represents that it or its applicable Subsidiary has complied with all applicable
requirements of Law (including “know your customer” requirements) with respect to all customers of Borrower or any
Subsidiary for whose account a Letter of Credit is issued hereunder.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(v)       The
L/C Issuer shall not be under any obligation to amend any Letter of Credit, if (A) the L/C Issuer would have no obligation at such
time to issue such Letter of Credit in its amended

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form under the terms hereof, or (B) the beneficiary of such
Letter of Credit does not accept the proposed amendment to such Letter of Credit.

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

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

(i)       Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of Borrower or an L/C Subsidiary delivered to
the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed
and signed by an Authorized Officer of Borrower, as the case may be. Such Letter of Credit Application must be received by the
L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time, as
the Administrative Agent and the L/C Issuer may agree in a particular instance, in their sole discretion) prior to the proposed
issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit,
such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the proposed
issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the
expiry date thereof; (D) if applicable, the name and address of the customer of Borrower or the applicable L/C Subsidiary for
whose account the Letter of Credit is to be issued; (E) the name and address of the beneficiary thereof; (F) the documents to
be presented by such beneficiary in case of any drawing thereunder; (G) the full text of any certificate to be presented by such
beneficiary in case of any drawing thereunder; (H) the purpose and nature of the requested Letter of Credit; and (I) such other
matters, as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit,
such Letter of Credit Application shall specify, in form and detail reasonably satisfactory to the L/C Issuer: (A) the Letter
of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed
amendment; and (D) such other matters, as the L/C Issuer may reasonably require. Additionally, the Borrower or the applicable
L/C Subsidiary shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to
such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative
Agent may reasonably require. In the event of any inconsistency between the terms and conditions of this Agreement and the terms
and conditions of any form of Letter of Credit Application or other agreement submitted by the Borrower or applicable L/C Subsidiary
to, or entered into by the Borrower with, the L/C Issuer relating to any Letter of Credit, the terms and conditions of this Agreement
shall control.

(ii)       Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has received a copy of such Letter of Credit Application and, if not, the L/C Issuer will
provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Tranche 2 Lender,
the Administrative Agent or any Credit Party, at least one Business Day prior to the requested date of issuance or amendment of
the applicable Letter of Credit, that one or more applicable conditions contained in Section 2.20(a)(i) or 3.2 shall not then be
satisfied, then, subject to the terms and

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conditions hereof, the L/C Issuer shall, on the requested
date, issue a Letter of Credit for the account of Borrower (or the applicable Subsidiary) or enter into the applicable amendment,
as the case may be, in each case, in accordance with the L/C Issuer’s usual and customary business practices. Immediately
upon the issuance of each Letter of Credit, each Tranche 2 Lender shall be deemed to, and hereby irrevocably and unconditionally
agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such
Tranche 2 Lender’s Applicable Percentage times the amount of such Letter of Credit.

(iii)       If
Borrower or the applicable L/C Subsidiary so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its
sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension
Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent
any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by
giving 30 days’ (or such other number of days, as the L/C Issuer may agree) prior notice to the beneficiary thereof not
later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the
time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, Borrower or the applicable L/C Subsidiary shall
not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has
been issued, the Tranche 2 Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension
of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that
the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted at such
time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.20(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or
before the day that is five Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Requisite
Tranche 2 Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Tranche 2 Lender or Borrower
that one or more of the applicable conditions specified in Section 2.20(a)(i) or 3.2 is not then satisfied, and, in each such
case, directing the L/C Issuer not to permit such extension.

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

(c)               
Drawings and Reimbursements; Funding of Participations.

(i)       Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify Borrower and the Administrative Agent thereof. In the case of a Letter of Credit denominated in an Alternative Currency,
Borrower shall reimburse the L/C Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its option) shall have specified
in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in
Dollars, Borrower shall have notified the L/C Issuer promptly following receipt of the notice of drawing that Borrower will reimburse
the L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in
an Alternative Currency, the L/C Issuer shall notify Borrower of the Dollar Equivalent of the amount of the drawing promptly following
the determination thereof. Not later than 11:00 a.m. on the second Business Day following the date of any payment (or, in the case
of any commercial Letter of Credit, not later than the date of payment, subject to timely notice by the L/C Issuer) by the L/C
Issuer under a Letter of Credit to be reimbursed in Dollars, or the Applicable Time on the date of any payment by the L/C Issuer
under a Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”),

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Borrower shall reimburse the L/C Issuer through the Administrative
Agent in an amount equal to the amount of such drawing and in the applicable currency. If Borrower fails to so reimburse the L/C
Issuer by such time, the Administrative Agent shall promptly notify each Tranche 2 Lender of the Honor Date, the amount of the
unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent thereof, in the case of a Letter of Credit denominated
in an Alternative Currency) (the “Unreimbursed Amount”), and the amount of such Tranche 2 Lender’s Applicable
Percentage thereof. In such event, Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on
the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section
2.1 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Commitments and the
conditions set forth in Section 3.2 (other than the delivery of a Funding Notice). Any notice given by the L/C Issuer or the Administrative
Agent pursuant to this Section 2.20(c)(i) may be given by telephone, if immediately confirmed in writing; provided that
the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

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

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

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

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

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

(d)              
Repayment of Participations.

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

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

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

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

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

                                                   
(iii)          any
draft, demand, certificate, endorsement or other document presented under, or in connection with, such Letter of Credit proving
to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect;
or

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any loss or delay in the transmission or otherwise
of any document required in order to make a drawing under such Letter of Credit;

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

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

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

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

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

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of Credit or the rights or benefits thereunder or proceeds
thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

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

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

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

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

(k)              
Bankers’ Acceptances. This Agreement contemplates the issuance of commercial Letters of Credit that are Acceptance
Credits and the creation of Bankers’ Acceptances in connection therewith. For purposes hereof, and as additional clarification,
as the context requires, (i) references to drawings under Letters of Credit shall include the creation of, and payments under,
Bankers’ Acceptances, (ii) references to notices of drawing under Letters of Credit shall include presentations of Bankers’
Acceptances for payment, (iii) references to undrawn amounts under Letters of Credit shall include amounts payable under (or that
may become payable under) Bankers’ Acceptances, (iv) references to the issuance of a Letter of Credit shall include the creation
of a Bankers’ Acceptance under a commercial Letter of Credit and (v) references to expiry dates of Letters of Credit shall
include maturity dates of Bankers’ Acceptances.

SECTION
3.

CONDITIONS PRECEDENT

3.1             
Conditions to Initial Extensions of Credit.

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

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

(b)              
Organizational Documents; Incumbency. The Administrative Agent shall have received (i) copies of each Organizational
Document of each Credit Party and, to the extent applicable,

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certified as of a recent date by the appropriate governmental
official; (ii) signature and incumbency certificates of the officers of such Person executing the Credit Documents to which it
is a party; (iii) resolutions of the Board of Directors or similar governing body of each Credit Party approving and authorizing
the execution, delivery and performance of this Agreement and the other Credit Documents to which it is a party or by which it
or its assets may be bound as of the Closing Date, certified as of the Closing Date by its secretary or an assistant secretary
as being in full force and effect without modification or amendment; and (iv) a good standing certificate from the applicable Governmental
Authority of each Credit Party’s jurisdiction of incorporation, organization or formation, each dated a recent date prior
to the Closing Date.

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

(d)              
Certificates. The Administrative Agent shall have received a properly executed Closing Certificate, Solvency Certificate,
and Guarantor Asset Coverage Ratio Certificate required by Section 5.1(c), each dated as of the Closing Date.

(e)               
Original Credit Agreement. All commitments and loans outstanding under the Original Credit Agreement and all accrued
and unpaid interest, fees and any other amounts outstanding under the Original Credit Agreement shall have been terminated and
paid in full.

(f)               
Fees. All fees required to be paid to the Lenders, the Administrative Agent and the Arrangers on or before the Closing
Date pursuant to this Agreement or any separate agreement shall have been paid.

(g)               
Expenses. Borrower shall have paid all out-of-pocket expenses of the Administrative Agent and the Arrangers to the
extent invoiced at least five Business Days prior to the Closing Date, which may include estimated expenses to be incurred by them
through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts
between Borrower and the Administrative Agent).

(h)              
No Material Adverse Effect. Since December 31, 2012, no event, circumstance or change has occurred that has caused
or could reasonably be expected to have, either in any case or in the aggregate, a Material Adverse Effect, except as otherwise
disclosed in Borrower’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2012 or any subsequent filings
by Borrower with the SEC under the Exchange Act.

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

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3.2             
 Conditions to Each Credit Extension.

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

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

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

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

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

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

SECTION
4.

REPRESENTATIONS AND WARRANTIES

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

4.1             
Organization; Requisite Power and Authority; Qualification.

Each Credit Party (a) is duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization (which is identified, as of the Closing
Date, in Schedule 4.1), (b) has all requisite power and authority to own and operate its properties and to carry on its business
as now conducted and as proposed to be conducted, except, in each case, where the failure to have such power or authority has not
had, and could not be reasonably expected to have, a Material Adverse Effect, (c) has all requisite power and authority to enter
into the Credit Documents to which it is a party and to carry out the transactions contemplated thereby and, in the case of Borrower
(or any Subsidiary for whose account a Letter of Credit is issued), to receive the Credit Extensions hereunder, and (d) is qualified
to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out

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its business and operations, except in jurisdictions where
the failure to be so qualified or in good standing has not had, and could not be reasonably expected to have, a Material Adverse
Effect.

4.2             
Capital Stock and Ownership.

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

4.3             
Due Authorization.

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

4.4             
No Conflict.

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

4.5             
Governmental Consents.

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

4.6             
Binding Obligation.

Each Credit Document has been duly executed
and delivered by each Credit Party that is a party thereto and is the legally valid and binding obligation of such Credit Party,
enforceable against such Credit Party in accordance with its respective terms, except as may be limited by bankruptcy,

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insolvency, reorganization, moratorium or similar laws relating
to or limiting creditors’ rights generally or by equitable principles relating to enforceability (whether enforcement is
sought in equity or at law).

4.7             
Historical Financial Statements.

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

4.8             
Adverse Proceedings, etc.

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

4.9             
Payment of Taxes.

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

4.10         
Properties.

Each of Borrower and its Restricted Subsidiaries
has (i) in the case of fee interests in real property, good, sufficient and legal title to, (ii) in the case of other owned real
or personal property, good, sufficient and legal title or ownership of, and (iii) in the case of leasehold interests in real or
personal property, valid leasehold interests and rights in, in each case, all of its properties and assets, including, without
limitation, those reflected in its Historical Financial Statements referred to in Section 4.7 and in

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the most recent financial statements delivered pursuant to
Section 5.1, in each case, except for (x) assets disposed of since the date of such financial statements in the Ordinary Course
of Business or as otherwise permitted under the Credit Documents, (y) encumbrances and defects in title which would constitute
Permitted Liens and (z) other defects in title that would not result in a Material Adverse Effect. All such properties and assets
are in working order and condition, ordinary wear and tear excepted, and except for Permitted Liens, all such properties and assets
are free and clear of Liens.

4.11         
Environmental Matters.

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

4.12         
No Defaults.

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

4.13         
Governmental Regulation.

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

4.14         
Margin Stock.

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

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4.15         
 Employee Matters.

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

4.16         
Employee Benefit Plans.

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

(b)              
As of the Closing Date, except (in each of the following cases) as would not reasonably be expected to result in a Material
Adverse Effect, no Pension Plan has been terminated, nor is any Pension Plan in an “at-risk” status pursuant to Section
303 of ERISA, nor has any funding waiver from the Internal Revenue Service been received or requested with respect to any Pension
Plan, nor has there been any event requiring any disclosure under Section 4041(c)(3)(C) or 4063(a) of ERISA with respect to any
Pension Plan.

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

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

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

4.17         
Solvency.

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

4.18         
Compliance with Statutes, etc.

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

4.19         
Disclosure.

No representation or warranty of any Credit
Party contained in any Credit Document, none of Borrower’s Annual Report on Form 10-K for the Fiscal Year ended December
31, 2012 or any subsequent filings by Borrower with the SEC, and none of the reports, financial statements or other documents,
certificates or written statements furnished to Lenders by or on behalf of Borrower or any of its Restricted Subsidiaries for use
in connection with the transactions contemplated hereby contains any untrue statement of a material fact or omits to state a material
fact (known to any Relevant Officer of Borrower, in the case of any document not furnished by Borrower or any of its Restricted
Subsidiaries) necessary in order to make the statements contained herein or therein not misleading in light of the circumstances
in which the same were made; provided that, with respect to projected financial information, the Credit Parties represent
only that such information was prepared in good faith based upon assumptions that Borrower believed to be reasonable at the time
prepared.

4.20         
Terrorism Laws, FCPA and Sanctions.

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

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

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

(d)              
Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower,
its Subsidiaries and their respective directors, officers, employees, independent contractors, consultants, third-party vendors
and advisors with Terrorism Laws and Sanctions.

4.21         
Insurance.

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

4.22         
Intellectual Property.

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

4.23         
Permits, etc.

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

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SECTION
5.

AFFIRMATIVE COVENANTS

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

5.1             
Financial Statements and Other Reports.

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

(a)               
Quarterly Financial Statements. As soon as available, and in any event within forty-five (45) days (or such later
date as Borrower files its quarterly reports pursuant to Rule 12b-25 under the Exchange Act or any other similar rule promulgated
by the SEC) after the end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the Fiscal Quarter ending
March 31, 2014), the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Quarter and the
related consolidated statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such
Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, setting
forth, in each case, in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all
in reasonable detail.

(b)              
Annual Financial Statements. As soon as available, and in any event within ninety (90) days (or such later date as
Borrower files its annual reports pursuant to Rule 12b-25 under the Exchange Act or any other similar rule promulgated by the SEC)
after the end of each Fiscal Year (commencing with the Fiscal Year ended December 31, 2013), (i) the consolidated balance sheets
of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’
equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth, in each case, in comparative form the
corresponding figures for the previous Fiscal Year, in reasonable detail and (ii) with respect to such financial statements referred
to in clause (i) a report thereon of PricewaterhouseCoopers LLP or other independent certified public accountants of recognized
national standing selected by Borrower, reported on without a “going concern” or similar qualification, exception or
explanatory statement, or qualification arising out of the scope of the audit, and reasonably satisfactory to Administrative Agent
and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial
position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for
the periods indicated in conformity with GAAP, applied on a basis consistent with prior years (except as otherwise disclosed in
such financial statements) and that the examination by such accountants in connection with such consolidated financial statements
has been made in accordance with generally accepted auditing standards.

(c)               
Compliance Certificate; Guarantor Asset Coverage Ratio Certificate. Together with each required delivery of financial
statements pursuant to Sections 5.1(a) and 5.1(b), a duly executed and completed Compliance Certificate, which shall include information
in reasonable detail demonstrating the calculation of the covenants set forth in Section 6.3(a) (including, in the case of filed
financial statements, a reference or hyperlink to the filed financial statements to which the Compliance Certificate relates).
Within 45 days after the end of each month (commencing with the month ended November 30, 2013), Borrower shall deliver to Administrative
Agent a duly executed and completed

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Guarantor Asset Coverage Ratio Certificate using the Carrying
Values as of the end of such month; provided that the Guarantor Asset Coverage Ratio Certificate for the month ended November 30,
2013 shall be delivered on the Closing Date.

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

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

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

(g)               
Other Debt Notices. Promptly after the distribution thereof (but, in any event, within five (5) Business Days thereafter,
unless such has been publicly filed with the SEC or posted to Borrower’s website (and notification of any such posting has
been provided to the Administrative Agent) or has otherwise been previously provided to the Administrative Agent hereunder or under
any other Credit Document), copies of all reports and other materials distributed to the lenders under any other syndicated revolving
credit facility of Borrower or any Institutional Term Loan or the holders of any Publicly Traded Debt Securities (or any trustee,
agent or other representative therefor) in excess of the Threshold Amount pursuant to the terms of the documentation governing
such Indebtedness, and notice in writing following any event of default under any other syndicated revolving credit facility of
Borrower or any Institutional Term Loan or any Publicly Traded Debt Securities in excess of the Threshold Amount.

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

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

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

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

5.2             
Existence.

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

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5.3             
Payment of Taxes and Claims.

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

5.4             
Maintenance of Properties.

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

5.5             
Insurance.

Borrower will maintain or cause to be maintained,
with financially sound and reputable insurers, such casualty insurance, such public liability insurance, third party property damage
insurance with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Borrower and its
Restricted Subsidiaries, as has heretofore been customarily carried or maintained by Borrower in respect of the assets, properties
and businesses of Borrower and its Restricted Subsidiaries, in each case, in such amounts (giving effect to self-insurance and
provided that adequate reserves therefor are maintained in accordance with GAAP), with such deductibles, covering such risks and
otherwise on such terms and conditions, as shall be customary for Borrower in respect of the assets, properties and businesses
of Borrower and its Restricted Subsidiaries.

5.6             
Books and Records; Inspections.

Each Credit Party will, and will cause
each of its Restricted Subsidiaries to, (a) keep adequate books of record and account in which full, true and correct entries are
made of all dealings and transactions in relation to its business and activities and (b) permit Administrative Agent, any Lender
and any of their respective representatives (including employees, consultants, accountants, lawyers and appraisers) to visit and
inspect any of the properties of any Credit Party and any of its Restricted Subsidiaries, to inspect, copy and take extracts from
its and their financial and accounting records, and to discuss its and their affairs, finances and accounts with its and their
officers and independent accountants, all upon reasonable notice and at such reasonable times during normal business hours, as
often as may

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reasonably be requested; provided that (i) visits
by any Lender shall be coordinated through Administrative Agent at Borrower’s request and (ii) so long as no Event of Default
has occurred and is continuing, visits by any Lender or its representatives shall be limited to once per Fiscal Year and shall
be at such Lender’s expense. By this provision the Credit Parties authorize such accountants to discuss with Administrative
Agent and each Lender and such representatives the affairs, finances and accounts of Borrower and its Restricted Subsidiaries.
The Credit Parties acknowledge that Administrative Agent, after exercising its rights of inspection, may prepare and distribute
to the Lenders certain reports pertaining to the Credit Parties’ assets for internal use by Administrative Agent and the
Lenders; provided that, in each case, the foregoing shall be subject to any confidentiality restrictions to which any Credit
Party or its Subsidiaries are subject in the conduct of Ordinary Course of Business.

5.7             
Compliance with Laws.

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

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

5.8             
Environmental.

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

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5.9             
 Additional Guarantors. 

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

5.10         
Designation of Restricted and Unrestricted Subsidiaries.

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

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

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

5.11         
Ratings.

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

5.12         
Use of Proceeds.

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

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SECTION
6.

NEGATIVE COVENANTS

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

6.1             
Liens.

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

(1)              
Liens existing on the Closing Date;

(2)              
[Reserved];

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

(4)              
Borrower (i) from creating, incurring or suffering to exist a purchase money Lien upon any such property, assets, capital
stock or Indebtedness acquired by Borrower prior to, at the time of, or within one year after (A) in the case of physical property
or assets, the later of the acquisition, completion of construction (including any improvements on existing property) or commencement
of commercial operation of such property or (B) in the case of shares of Capital Stock, Indebtedness or other property or assets,
the acquisition of such shares of Capital Stock, Indebtedness, property or assets, (ii) from acquiring property or assets subject
to Liens existing thereon at the date of acquisition thereof, whether or not the Indebtedness secured by any such Lien is assumed
or guaranteed by Borrower, or (iii) from creating, incurring or suffering to exist Liens upon any property of any Person, which
Liens exist at the time any such Person is merged with or into or consolidated with Borrower (or becomes a Subsidiary of Borrower)
or which Liens exist at the time of a sale or transfer of the properties of any such Person as an entirety or substantially as
an entirety to Borrower;

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

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

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

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

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

(10)          
Borrower from creating, incurring or suffering to exist (A) other consensual Liens in the ordinary course of business of
Borrower that secure Indebtedness that, in accordance with GAAP, would not be included in total liabilities, as shown on Borrower’s
consolidated balance sheet, to the extent such Liens are created by reason of dispositions not characterized as “true sales”
under FASB ASC 810 or 860 (or any successor to any of the foregoing), or (B) Liens created by Borrower in connection with any transaction
intended by Borrower to be a sale of property or assets of Borrower, provided that such Liens are upon any or all of the
property or assets intended to be sold, the income from such property or assets and/or the proceeds of such property or assets;

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

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

(13)          
Borrower from creating, incurring or suffering to exist any other Liens not otherwise permitted by any of the foregoing
clauses (1) through (12) above; provided that the

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maximum amount of Indebtedness secured by Liens in
reliance on this clause (13) shall not exceed, at the time of and after giving effect to the incurrence of any Indebtedness secured
by a Lien in reliance on this clause (13), an amount equal to the greater of $900,000,000 or 10% of the excess of Borrower’s
consolidated total assets over Borrower’s consolidated liabilities, as shown on Borrower’s balance sheet for the most
recent fiscal quarter for which financial statements are publicly available in accordance with GAAP at the date of measurement.

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

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

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

6.2             
Restricted Payments.

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

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

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

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

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

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

6.3             
Financial Covenants.

(a)               
The Credit Parties shall not permit the Consolidated Net Worth as of the last day of each Fiscal Quarter (commencing with
the Fiscal Quarter ended December 31, 2013) of Borrower, to be less than $6,000,000,000.

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

	Debt Rating	Minimum Guarantor Asset Coverage Ratio
	Level I:  Debt Ratings are BB+ or higher by S&P and Ba1 or higher by Moody’s	1.250 to 1.000
	Level II:  Level I does not apply and Debt Ratings are BB or higher by S&P and Ba2 or higher by Moody’s	1.375 to 1.000
	Level III:  Neither Level I nor Level II applies	1.500 to 1.000

 

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

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

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

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

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

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

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

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

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

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

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

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

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

6.5             
Negative Pledges.

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

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SECTION
7.

GUARANTY

7.1             
Guaranty of the Obligations.

Subject to the provisions of Section 7.2,
Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit
of the Beneficiaries the due and punctual payment in full of all
Obligations, when the same shall become due, whether at Stated Maturity, by required prepayment, declaration, acceleration, demand
or otherwise (including amounts that would become due, but for the operation of the automatic stay under Section 362(a) of the
Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”). Notwithstanding any
provision to the contrary of this Agreement or of any other Credit Document, it is intended that the Guaranties and liens and security
interests (if any) granted by Guarantors not constitute a “Fraudulent Conveyance.” For purposes hereof, “Fraudulent
Conveyance” means a fraudulent conveyance under section 548 of the Bankruptcy Code or a fraudulent conveyance or fraudulent
transfer under the provisions of any applicable fraudulent conveyance or fraudulent transfer law or similar law of any state, nation
or other governmental unit, as in effect from time to time. The parties hereto agree that, if the Guaranties or any such liens
or security interests would, but for the application of this Section 7.1, constitute a Fraudulent Conveyance, the Guaranties and
each such lien and security interest shall be valid and enforceable only to the maximum extent that would not cause the Guaranties
or such lien or security interest to constitute a Fraudulent Conveyance.

7.2             
Contribution by Guarantors.

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

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date by such Contributing Guarantor from the other Contributing
Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the
date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing
Guarantors of their obligations, as set forth in this Section 7.2, shall not be construed in any way to limit the liability of
any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this
Section 7.2.

7.3             
Payment by Guarantors.

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

7.4             
Liability of Guarantors Absolute.

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

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

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

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

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

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the extent satisfied by such Guarantor, limit, affect,
modify or abridge any other Guarantor’s liability hereunder in respect of the Guaranteed Obligations;

(e)               
any Beneficiary, upon such terms as it deems appropriate, without notice or demand and without affecting the validity or
enforceability hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s
liability hereunder, from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change
the time, place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept
or refuse any offer of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating
thereto and/or subordinate the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties
of the Guaranteed Obligations and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender,
exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security
for payment of the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person
(including any other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security, now or hereafter
held by or for the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations, and direct the order or manner
of sale thereof, or exercise any other right or remedy that such Beneficiary may have against any such security, in each case,
as such Beneficiary, in its discretion, may determine consistent herewith or any other applicable Credit Document, including foreclosure
on any such security pursuant to one or more judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially
reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right
or remedy of any Guarantor against Borrower or any security for the Guaranteed Obligations; and (vi) exercise any other rights
available to it under the Credit Documents; and

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

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of the Guaranteed Obligations; (vi) any failure to
perfect or continue perfection of a security interest in any collateral which secures any of the Guaranteed Obligations; (vii)
any defenses, set offs or counterclaims which Borrower may allege or assert against any Beneficiary in respect of the Guaranteed
Obligations, including failure of consideration, breach of warranty, statute of frauds, statute of limitations, accord and satisfaction
and usury; and (viii) any other act or thing or omission, or delay to do any other act or thing, which may or might in any manner
or to any extent vary the risk of any Guarantor, as an obligor in respect of the Guaranteed Obligations.

7.5             
Waivers by Guarantors.

Each Guarantor hereby waives, for the benefit
of Beneficiaries: (a) any right to require any Beneficiary, as a condition of payment or performance by such Guarantor, to (i)
proceed against Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person,
(ii) proceed against or exhaust any security held from Borrower, any such other guarantor or any other Person, (iii) proceed against
or have resort to any balance of any Deposit Account or credit on the books of any Beneficiary in favor of Borrower or any other
Person, or (iv) pursue any other remedy in the power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity,
lack of authority or any disability or other defense of Borrower or any other Guarantor, including any defense based on, or arising
out of, the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating thereto
or by reason of the cessation of the liability of Borrower or any other Guarantor from any cause, other than payment in full of
the Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a surety
must be neither larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon any
Beneficiary’s errors or omissions in the administration of the Guaranteed Obligations, except behavior which amounts to bad
faith, gross negligence or willful misconduct; (e) (i) any principles or provisions of law, statutory or otherwise, which are or
might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder,
(ii) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement hereof,
(iii) any rights to set offs, recoupments and counterclaims, and (iv) promptness, diligence and any requirement that any Beneficiary
protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments,
protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of
default hereunder, or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed
Obligations or any agreement related thereto, notices of any extension of credit to Borrower and notices of any of the matters
referred to in Section 7.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from,
or afforded by, law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.

7.6             
Guarantors’ Rights of Subrogation, Contribution, etc.

Until the Guaranteed Obligations shall
have been indefeasibly paid in full and the Commitments shall have terminated, each Guarantor hereby waives any claim, right or
remedy, direct or indirect, that such Guarantor now has or may hereafter have against Borrower or any other Guarantor or any of
its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case, whether
such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise, and including without
limitation (a) any right of subrogation, reimbursement or indemnification that such Guarantor now has, or may hereafter have against
Borrower with respect to the Guaranteed Obligations, (b) any right to enforce, or to participate in, any claim, right or remedy
that any Beneficiary now has or may hereafter have, against Borrower, and (c) any benefit of, and any right to participate in,
any collateral or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations shall have been
indefeasibly paid in full and the Commitments

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shall have terminated, each Guarantor shall withhold exercise
of any right of contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed
Obligations, including any such right of contribution, as contemplated by Section 7.2. Each Guarantor further agrees that, to the
extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution,
as set forth herein, is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation,
reimbursement or indemnification such Guarantor may have against Borrower or against any collateral or security, and any rights
of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary
may have against Borrower, to all right, title and interest any Beneficiary may have in any such collateral or security, and to
any right any Beneficiary may have against such other guarantor. If any amount shall be paid to any Guarantor on account of any
such subrogation, reimbursement, indemnification or contribution rights at any time when all Guaranteed Obligations shall not have
been finally and indefeasibly paid in full, such amount shall be held in trust for Administrative Agent, on behalf of Beneficiaries,
and shall forthwith be paid over to Administrative Agent, for the benefit of Beneficiaries, to be credited and applied against
the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms hereof.

7.7             
Subordination of Other Obligations.

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

7.8             
Continuing Guaranty.

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

7.9             
Authority of Guarantors or Borrower.

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

7.10         
Financial Condition of Borrower.

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

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Beneficiary to disclose any matter, fact or thing relating
to the business, operations or conditions of Borrower, now known, or hereafter known, by any Beneficiary.

7.11         
Bankruptcy, etc.

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

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

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

7.12         
Discharge of Guaranty Upon Sale of Guarantor.

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

7.13         
Taxes.

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

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SECTION
8.

EVENTS OF DEFAULT

8.1             
Events of Default.

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

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

(b)              
Default in Other Agreements. (i) Failure of Borrower or any Restricted Subsidiary to pay when due any principal of,
or interest on, or any other amount payable in respect of, one or more items of Indebtedness (other than Indebtedness referred
to in Section 8.1(a)) in each case, beyond the grace period, if any, provided therefor; or (ii) breach or default by Borrower or
any Restricted Subsidiary with respect to any other material term of (1) one or more items of Indebtedness, or (2) any loan agreement,
mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case, beyond the grace period, if any,
provided therefor, if the effect of such breach or default is to cause that Indebtedness to become or be declared due and payable
prior to its Stated Maturity or the Stated Maturity of any underlying obligation, or prior to the stated term of such derivative
transaction, as the case may be; and, in the case of clauses (i) and (ii), the aggregate principal amount or termination value,
as applicable, of such Indebtedness owed by such Credit Party or such Restricted Subsidiary is greater than the Threshold Amount;
or

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

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

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

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

(g)               
Voluntary Bankruptcy; Appointment of Receiver, etc. (i) Borrower or any Significant Subsidiary shall seek to have
an order for relief entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other
applicable bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect, or shall consent to the
entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any
such law, or shall consent to the appointment of or taking possession by a receiver, trustee, conservator or other custodian for
all or a substantial part of its property; or Borrower or any Significant Subsidiary shall make any assignment for the benefit
of creditors; (ii) Borrower or any Significant Subsidiary shall be unable, or shall fail generally, or shall admit in writing its
inability, to pay its debts generally, as such debts become due; or (iii) there shall have occurred the voluntary appointment of
a receiver, trustee, conservator or other custodian of Borrower or any Significant Subsidiary; or

(h)              
Claims, Judgments and Attachments. Any money judgment, writ or warrant of attachment or similar process involving,
in the aggregate, at any time, an amount in excess of the Threshold Amount (in either case, to the extent not fully covered by
insurance (less any deductible) as to which a solvent and unaffiliated third party insurance company has acknowledged coverage)
shall be entered or filed against Borrower or any Significant Subsidiary or any of their respective assets and shall remain undischarged,
unvacated, unbonded or unstayed for a period of thirty (30) days (or, in any event, later than the date that enforcement proceedings
shall have been commenced by any creditor upon such judgment order or five (5) days prior to the date of any proposed sale thereunder);
or

(i)                
Dissolution. Any order, judgment or decree shall be entered against Borrower or any Significant Subsidiary decreeing
the dissolution or split up of such Person and such order shall remain undischarged or unstayed for a period in excess of thirty
(30) days; or

(j)                
Employee Benefit Plans. There shall occur one or more ERISA Events which, individually or in the aggregate, results
in, or might reasonably be expected to result in, liability of Borrower, any of its Restricted Subsidiaries or any of their respective
ERISA Affiliates in excess of the Threshold Amount during the term hereof; or

(k)              
Change of Control. A Change of Control shall occur; or

(l)                
Guaranties and other Credit Documents. At any time after the execution and delivery thereof, (i) any Credit Party
shall repudiate its obligations under any Credit Document, other than, in the case of a Guarantor, following its release from the
Guaranty, (ii) the Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force
and effect in any

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material respect with respect to any Guarantor (other than
in accordance with its terms) or shall be declared to be null and void, or (iii) any Credit Document (other than the Guaranty)
ceases to be in full force and effect (other than by reason of the satisfaction in full of the Obligations in accordance with the
terms hereof) or shall be declared null and void;

THEN, (1) upon the occurrence of any Event of Default
described in Section 8.1(f) or 8.1(g) with respect to Borrower, automatically, and (2) upon the occurrence of any other Event of
Default, upon notice to Borrower by the Administrative Agent (given at the direction of the Requisite Lenders) with respect to
any or all of the following, (A) the Commitments shall immediately terminate; (B) each of the following shall immediately become
due and payable, in each case, without presentment, demand, protest or other requirements of any kind, all of which are hereby
expressly waived by each Credit Party: (I) the fees, expenses, indemnities and other amounts (including fees, charges and disbursements
of counsel) then due to the Administrative Agent and the other Beneficiaries,
including without limitation, amounts payable under Sections 2.12, 2.14, 2.15, 2.16 and 10.2, (II) the unpaid principal amount
of, and accrued interest on, the Loans, and (III) all other Obligations; (C) Borrower shall Cash Collateralize the L/C Obligations
(in an amount equal to the Applicable Cash Collateralization Percentage thereof); and (D) upon the written direction of the Requisite
Lenders, all LIBOR Rate Loans then outstanding shall be immediately converted into Base Rate Loans (it being understood that Borrower
shall be liable for any amounts payable under Section 2.14(c) in connection with such conversion).

SECTION
9.

AGENTS

9.1             
Appointment of Administrative Agent, Arrangers and Other Agents.

Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Chase Bank, N.A., and Morgan Stanley Senior Funding,
Inc. are hereby appointed the Arrangers hereunder, and each Lender and the L/C Issuer hereby authorize Merrill Lynch, Pierce, Fenner
& Smith Incorporated, Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Morgan Stanley
Senior Funding, Inc. to act as the Arrangers in accordance with the terms hereof and the other Credit Documents. Bank of America
is hereby appointed the Administrative Agent hereunder and under the other Credit Documents and each Lender and the L/C Issuer
hereby authorize Bank of America to act as the Administrative Agent in accordance with the terms hereof and the other Credit Documents.
Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. are hereby
appointed the Syndication Agents hereunder, and each Lender hereby authorizes Barclays Bank PLC, Credit Suisse Securities (USA)
LLC, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. to act as the Syndication Agents in accordance with the
terms hereof and the other Credit Documents. The Administrative Agent hereby agrees to act in its capacity as such upon the express
conditions contained herein and the other Credit Documents, as applicable. The provisions of this Section 9 (other than as expressly
provided herein) are solely for the benefit of the Administrative Agent, the L/C Issuer and the Lenders and no Credit Party shall
have any rights as a third party beneficiary of any of the provisions of this Section 9 (other than as expressly provided herein).
Notwithstanding any other provision of this Agreement or any provision of any other Credit Document, the Arrangers and the Other
Agents are named as such for recognition purposes only, and in their respective capacities as such shall have no duties, responsibilities
or liabilities with respect to this Agreement or any other Credit Document; it being understood and agreed that the Arrangers and
the Other Agents shall be entitled to all exculpatory provisions and indemnification and reimbursement rights in favor of the Administrative
Agent provided herein and in the other Credit Documents and all of the other benefits of this Section 9 (notwithstanding, for the
avoidance of doubt, whether or not the Arrangers or the Other Agents are specifically referenced

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in connection with the enumeration of such rights or benefits).
Without limitation of the foregoing, no Arranger or Other Agent shall, by reason of this Agreement or any other Credit Document,
have any fiduciary relationship in respect of any Lender, Credit Party or any other Person.

9.2             
Powers and Duties.

Each Lender and the L/C Issuer irrevocably
authorize the Administrative Agent to take such action on such Lender’s or the L/C Issuer’s behalf and to exercise
such powers, rights and remedies hereunder and under the other Credit Documents, as are specifically delegated or granted to the
Administrative Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental
thereto. The Administrative Agent shall have only those duties and responsibilities that are expressly specified herein and the
other Credit Documents. The Administrative Agent may exercise such powers, rights and remedies, and perform such duties, by or
through its agents or employees. The Administrative Agent shall not have, by reason hereof or any of the other Credit Documents,
a fiduciary relationship or other implied duties in respect of any Lender; and nothing herein or in any of the other Credit Documents,
expressed or implied, is intended to, or shall be so construed as to, impose upon the Administrative Agent any obligations in respect
hereof or any of the other Credit Documents, except as expressly set forth herein or therein. Without limiting the generality of
the foregoing sentence, the use of the term “agent” in this Agreement and in the other Credit Documents with reference
to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under the
agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create
or reflect only an administrative relationship between independent contracting parties.

9.3             
General Immunity.

(a)               
No Responsibility for Certain Matters. The Administrative Agent shall not be responsible to any Lender or the L/C
Issuer for the execution, effectiveness, genuineness, validity, enforceability, collectibility or sufficiency hereof or of any
other Credit Document or for any representations, warranties, recitals or statements made herein or therein or made in any written
or oral statements or in any financial or other statements, instruments, reports or certificates or any other documents furnished
or made by the Administrative Agent to Lenders or by or on behalf of any Credit Party to any Other Agent, any Lender or the L/C
Issuer in connection with the Credit Documents and the transactions contemplated thereby or for the financial condition or business
affairs of any Credit Party or any other Person liable for the payment of any Obligations, and the Administrative Agent shall not
be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants
or agreements contained in any of the Credit Documents or as to the use of the proceeds of the Loans or as to the existence or
possible existence of any Event of Default or Default or as to the satisfaction of any condition set forth in Section 3 or elsewhere
herein (other than to confirm receipt of items expressly required to be delivered to the Administrative Agent) or to inspect the
properties, books or records of Borrower or any of its Subsidiaries or to make any disclosures with respect to the foregoing. No
requirement in any Credit Document for a Credit Party to provide evidence, opinion, information, documentation or other material
requested or required by the Administrative Agent shall be construed to mean that the Administrative Agent has any responsibility
to request or require such evidence, opinion, information, documentation or other material. Anything contained herein to the contrary
notwithstanding, Administrative Agent shall not have any liability arising from confirmations of the amount of outstanding Loans
or the Letters of Credit.

(b)              
Exculpatory Provisions. None of the Administrative Agent, the Arrangers or the Other Agent or their officers, partners,
directors, employees or agents shall be liable to the Lenders (i) for any action taken or omitted by the Administrative Agent,
the Arranger or Other Agent (A) under or in

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connection with any of the Credit Documents except to the
extent caused by such Administrative Agent’s, Arranger’s or Other Agent’s gross negligence or willful misconduct,
as determined by a final, non-appealable judgment of a court of competent jurisdiction or (B) with the consent, or at the request,
of the Requisite Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group of Lenders specified
by this Agreement) or (ii) for any failure of any Credit Party to perform its obligations under this Agreement or any other Credit
Document. None of the Administrative Agent, the Arrangers or the Other Agent shall, except as expressly set forth herein and in
the other Credit Documents, have any duty to disclose, or be liable for the failure to disclose, any information relating to Borrower
or any of its Affiliates that is communicated to, or obtained by, the Administrative Agent, or any Arranger or Other Agent or any
of their Affiliates in any capacity. The Administrative Agent shall be entitled to refrain from any act or the taking of any action
(including the failure to take an action) in connection herewith or with any of the other Credit Documents or from the exercise
of any power, discretion or authority vested in it hereunder or thereunder, unless and until the Administrative Agent shall have
received instructions in respect thereof from Requisite Lenders (or such other Lenders, as may be required to give such instructions
under Section 10.5) and, upon receipt of such instructions from Requisite Lenders (or such other Lenders, as the case may be),
the Administrative Agent shall be entitled to act or (where so instructed) refrain from acting, or to exercise such power, discretion
or authority, in accordance with such instructions and shall not be required to take any action that, in its opinion or the opinion
of its counsel, may expose the Administrative Agent to liability or that is contrary to any Credit Document or applicable Law.
Without prejudice to the generality of the foregoing, (i) the Administrative Agent shall be entitled to rely, and shall be fully
protected in relying, upon any communication, instrument or document believed by it to be genuine and correct and to have been
signed or sent by the proper Person or Persons, and shall be entitled to rely, and shall be protected in relying, on opinions and
judgments of attorneys (who may be attorneys for Borrower and its Subsidiaries), accountants, experts and other professional advisors
selected by it; and (ii) no Lender shall have any right of action whatsoever against the Administrative Agent as a result of the
Administrative Agent acting or (where so instructed) refraining from acting hereunder or under any of the other Credit Documents
in accordance with the instructions of Requisite Lenders (or such other Lenders, as may be required to give such instructions under
Section 10.5).

(c)               
Notice of Default. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default,
until written notice describing such Default or Event of Default is given to any Agent by a Credit Party, the L/C Issuer or a Lender.
In the event that the Administrative Agent shall receive such a notice, the Administrative Agent shall give notice thereof to the
Lenders; provided that failure to give such notice shall not result in any liability on the part of the Administrative Agent.

(d)              
None of the Lenders or the L/C Issuer shall assert, and each Lender and the L/C Issuer hereby waive, any claim against the
Administrative Agent, including any predecessor agent, its sub-agents and their respective Affiliates in respect of any action
taken, or omitted to be taken, by any of them, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Credit
Document or any agreement or instrument contemplated hereby or thereby, the transactions contemplated hereby or thereby, any Loan
or the use of the proceeds thereof.

(e)               
No provision of this Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby,
or the transactions contemplated hereby or thereby shall require the Administrative Agent to: (i) expend or risk its own funds
or provide indemnities in the performance of any of its duties hereunder or the exercise of any of its rights or power, or (ii)
otherwise incur any financial liability in the performance of its duties hereunder or the exercise of any of its rights or power,
except for such expense, indemnity or liability, if any, arising out of the Administrative Agent’s

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gross negligence or willful misconduct in the performance
of its duties hereunder or under any other Credit Document, as determined by a judgment of a court of competent jurisdiction.

(f)               
The Administrative Agent, including any predecessor agent, its sub-agents and their respective Affiliates, shall not be
responsible for any action taken, or omitted to be taken, by the Administrative Agent with respect to (i) perfecting, maintaining,
monitoring, preserving or protecting the security interest or lien granted under this Agreement, any other Credit Document or any
agreement or instrument contemplated hereby or thereby or (ii) the filing, re-filing, recording, re-recording or continuing of
any document, financing statement, mortgage, assignment, notice, instrument of further assurance or other instrument in any public
office at any time or times. The actions described in items (i) and (ii) shall be the sole responsibility of the Credit Parties.

(g)               
The Administrative Agent shall not be required to qualify in any jurisdiction in which it is not presently qualified to
perform its obligations as Administrative Agent.

(h)              
The Administrative Agent may perform any and all of its duties and exercise its rights and powers under this Agreement or
under any other Credit Document by or through any one or more sub-agents appointed by it. Each of the Administrative Agent and
any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Affiliates.
The exculpatory, indemnification and other provisions of this Section 9 shall apply to any of the Affiliates of the Administrative
Agent and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein
as well as activities as the Administrative Agent. All of the rights, benefits, and privileges (including the exculpatory and indemnification
provisions) of this Section 9 shall apply to any such sub-agent and to the Affiliates of any such sub-agent, and shall apply to
their respective activities as sub-agent, as if such sub-agent and Affiliates were named herein. Notwithstanding anything herein
to the contrary, with respect to each sub-agent appointed by the Administrative Agent, (i) such sub-agent shall be a third party
beneficiary under this Agreement with respect to all such rights, benefits and privileges (including exculpatory rights and rights
to indemnification) and shall have all of the rights and benefits of a third party beneficiary, including an independent right
of action to enforce such rights, benefits and privileges (including exculpatory rights and rights to indemnification) directly,
without the consent or joinder of any other Person, against any or all of Credit Parties and the Lenders, (ii) such rights, benefits
and privileges (including exculpatory rights and rights to indemnification) shall not be modified or amended without the consent
of such sub-agent, and (iii) such sub-agent shall only have obligations to the Administrative Agent and not to any Credit Party,
Lender or any other Person and no Credit Party, Lender or any other Person shall have any rights, directly or indirectly, as a
third party beneficiary or otherwise, against such sub-agent.

9.4             
Agents Entitled to Act as Lender.

The agency hereby created shall in no way
impair or affect any of the rights and powers of, or impose any duties or obligations upon, the Administrative Agent, in its individual
capacity as a Lender hereunder. With respect to its Loans and participations in the Letters of Credit, the Administrative Agent
shall have the same rights and powers hereunder, in its capacity as a Lender, as any other Lender and may exercise the same, as
if it were not performing the duties and functions delegated to it hereunder, and the term “Lender” shall, unless the
context clearly otherwise indicates, include the Administrative Agent, in its individual capacity. The Administrative Agent and
its Affiliates may accept deposits from, lend money to, own securities of, and generally engage in any kind of banking, trust,
financial advisory or other business with Borrower or any of its Affiliates as if it were not performing the duties specified herein,
and may accept fees and other consideration from Borrower for services in connection herewith and otherwise without having to account
for the same to Lenders. The Lenders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates
may receive information regarding

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any Credit Party or any Affiliate of any Credit Party (including
information that may be subject to confidentiality obligations in favor of such Credit Party or such Affiliate) and acknowledge
that the Administrative Agent and its Affiliates shall be under no obligation to provide such information to them. In addition,
pursuant to such activities, the Administrative Agent or their Affiliates may have economic interests that could conflict with
the Lenders.

9.5             
Lenders’ Representations, Warranties and Acknowledgment.

(a)               
Each of the Lenders and the L/C Issuer represents and warrants that it has made its own independent investigation of the
financial condition and affairs of Borrower and its Subsidiaries in connection with Credit Extensions hereunder and that it has
made and shall continue to make its own appraisal of the creditworthiness of Borrower and its Subsidiaries. The Administrative
Agent shall not have any duty or responsibility, either initially or on a continuing basis, to make any such investigation or any
such appraisal on behalf of Lenders or to provide any Lender with any credit or other information with respect thereto, whether
coming into its possession before the making of the Loans or at any time or times thereafter, and the Administrative Agent shall
not have any responsibility with respect to the accuracy of or the completeness of any information provided to Lenders. Each Lender
agrees that it will not claim that any Lender has rendered advisory services of any nature or respect or owes a fiduciary or similar
duty to any Lender in connection with this Agreement or the transactions contemplated hereby.

(b)              
Each Lender, by delivering its signature page to this Agreement or an Assignment Agreement or by the funding of any Credit
Extension, shall be deemed to have acknowledged receipt of, and consented to and approved, each Credit Document and each other
document required to be approved by the Administrative Agent or Lenders, as applicable, on the Closing Date or as of the date of
such Credit Extension.

(c)               
Each Lender represents and warrants that, as of the Closing Date, or such later date on which such Lender delivers a signature
page to an Assignment Agreement, Borrower has provided such Lender with adequate access to financial and other information concerning
Borrower and its Subsidiaries and such Lender has been able to obtain from Borrower any additional information necessary to make
an informed decision regarding the creditworthiness of Borrower and its Subsidiaries.

9.6             
Right to Indemnity.

Each Lender, in proportion to its Applicable
Percentage, severally, agrees to indemnify the Administrative Agent and the L/C Issuer, to the extent that the Administrative Agent
or the L/C Issuer shall not have been reimbursed by any Credit Party (and without limiting its obligation to do so), for and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including counsel
fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against,
the Administrative Agent or the L/C Issuer in exercising its powers, rights and remedies or performing its duties hereunder or
under the other Credit Documents or otherwise, in its capacity as the Administrative Agent or the L/C Issuer in any way relating
to or arising out of this Agreement or the other Credit Documents; provided that no Lender shall be liable for any portion
of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting
from the Administrative Agent’s or the L/C Issuer’s, as applicable, gross negligence or willful misconduct, as determined
by a final, non-appealable judgment of a court of competent jurisdiction. If any indemnity furnished to the Administrative Agent
or the L/C Issuer for any purpose shall, in the opinion of the Administrative Agent or the L/C Issuer, be insufficient or become
impaired, the Administrative Agent or the L/C Issuer may call for additional indemnity and cease, or not commence, to do the acts
indemnified against, until such additional indemnity is furnished; provided that in no event shall this sentence require
any Lender to indemnify the Administrative Agent or the L/C

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Issuer against any liability, obligation, loss, damage, penalty,
action, judgment, suit, cost, expense or disbursement in excess of such Lender’s Applicable Percentage thereof; and provided,
further, that this sentence shall not be deemed to require any Lender to indemnify the Administrative Agent or the L/C Issuer
against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement described in the
proviso in the immediately preceding sentence.

9.7             
Successor Administrative Agent.

(a)               
Administrative Agent shall have the right to resign at any time by giving prior written notice thereof to the Lenders and
Borrower and Administrative Agent may be removed at any time after such notice of resignation from the Administrative Agent by
an instrument or concurrent instruments in writing delivered to Borrower and Administrative Agent and signed by Requisite Lenders.
The Administrative Agent shall have the right, but not the obligation, to appoint a financial institution to act as Administrative
Agent hereunder, subject to the reasonable satisfaction of the Requisite Lenders and, so long as no Event of Default shall have
occurred and be continuing, Borrower (such consent by Borrower not to be unreasonably withheld, conditioned or delayed; it being
understood that Borrower will be deemed to have provided such consent, in the event that it shall have failed to respond to a consent
request made in writing and delivered in accordance with Section 10.1 within 30 days of such delivery). If Administrative Agent
provides notice of its resignation, Administrative Agent’s resignation shall become effective on the 10th Business Day after
such notice of resignation. Upon any such notice of resignation or any such removal, if a successor Administrative Agent has not
already been appointed by the retiring Administrative Agent, Requisite Lenders shall have the right, upon five (5) Business Days’
notice to Borrower, to appoint a successor Administrative Agent, subject to, so long as no Event of Default shall have occurred
and be continuing, the consent of Borrower to such appointment (such consent by Borrower not to be unreasonably withheld, conditioned
or delayed; it being understood that Borrower will be deemed to have provided such consent, in the event that it shall have failed
to respond to a consent request made in writing and delivered in accordance with Section 10.1 within 30 days of such delivery).
If neither Requisite Lenders nor Administrative Agent have appointed a successor Administrative Agent, then the Requisite Lenders
shall be deemed to have succeeded to, and become vested with, all the rights, powers, privileges and duties of the retiring Administrative
Agent (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C
Issuer under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security
until such time as a successor Administrative Agent is appointed). Upon the acceptance of any appointment as Administrative Agent
hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to, and become vested
with, all the rights, powers, privileges and duties of the retiring or removed Administrative Agent. The fees payable by Borrower
to a successor Administrative Agent shall be the same as those payable to its predecessor, unless otherwise agreed between Borrower
and such successor. After any retiring or removed Administrative Agent’s resignation or removal hereunder as Administrative
Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it
was Administrative Agent hereunder.

(b)              
Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation
as the L/C Issuer. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder (unless the Borrower
and such successor agree otherwise), (i) such successor shall succeed to, and become vested with, all of the rights, powers, privileges
and duties of the retiring L/C Issuer, (ii) the retiring L/C Issuer shall be discharged from all of its duties and obligations
hereunder or under the other Credit Documents, and (iii) the successor L/C Issuer shall issue letters of credit and bankers’
acceptances in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements,
reasonably satisfactory to the retiring L/C Issuer, to effectively assume the obligations of the retiring L/C Issuer with respect
to such

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Letters of Credit. After Bank of America’s retirement
hereunder as an L/C Issuer, the provisions of the Credit Documents shall inure to its benefit as to any actions taken or omitted
to be taken by it with respect to, or in connection with, any Letters of Credit issued by it.

9.8             
Proofs of Claim.

In case of the pendency of any proceeding
under the Bankruptcy Code or other applicable Law or any other judicial proceeding relative to Borrower, the Administrative Agent
(irrespective of whether the principal of any Loan shall then be due and payable, as herein expressed, or by declaration or otherwise,
and irrespective of whether the Administrative Agent shall have made any demand on Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents, as may
be necessary or advisable in order to have the claims of the Lenders and the other Beneficiaries (including fees, disbursements
and other expenses of counsel) allowed in such judicial proceeding and (b) to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same. Any custodian, receiver, assignee, trustee, liquidator, sequestrator
or other similar official in any such judicial proceeding is hereby authorized by each Lender and the
other Beneficiaries to make such payments to the Administrative Agent. Nothing contained herein shall be deemed to authorize
the Administrative Agent to authorize, or consent to, or accept or adopt, on behalf of any Lender or other Beneficiary, any plan
of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or other Beneficiary
to authorize the Administrative Agent to vote in respect of the claim of such Lender or such other Beneficiary in any such proceeding.

9.9             
Arrangers and Other Agents.

Except as otherwise set forth herein, no
Arranger or Other Agent shall have any right, power, obligation, liability, responsibility or duty under this Agreement (or any
other Credit Document), other than those applicable (to the extent such Arranger or Other Agent is a Lender) to all Lenders as
such. Without limiting the foregoing, no Arranger or Other Agent shall have or be deemed to have any fiduciary relationship with
any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any Arranger or Other Agent in deciding to enter
into this Agreement and each other Credit Document to which it is a party or in taking, or not taking, action hereunder or thereunder.

9.10         
Tax Indemnification.

To the extent required by any applicable
Law, Administrative Agent may deduct or withhold from any payment to any Lender an amount equivalent to any applicable withholding
tax. If any Governmental Authority asserts a claim that Administrative Agent did not properly withhold tax from amounts paid to,
or for the account of, any Lender (because the appropriate form was not delivered, or was not properly executed or because such
Lender failed to notify Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding
tax ineffective, or for any other reason), then such Lender shall, and does hereby, indemnify and hold harmless Administrative
Agent (without limiting the obligations of the Credit Parties hereunder), and shall make payment in respect thereof within 10 days
after demand therefor, fully for all amounts paid, directly or indirectly, by Administrative Agent as Taxes or otherwise, and any
and all related losses, claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements of
any counsel for Administrative Agent), whether or not such Tax was correctly or legally asserted. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each
Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under
this Agreement or any other Credit Document against

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any amount due to the Administrative Agent under this Section
9.10. The agreements in this Section 9.10 shall survive the resignation and/or replacement of Administrative Agent, any assignment
of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge
of all other Obligations.

9.11         
Pay-Off Letter

Upon termination of the Commitments and
payment in full of all Obligations (other than contingent obligations not yet due) and expiration or termination or Acceptable
Collateralization of all Letters of Credit, the Lenders and the L/C Issuer authorize the Administrative Agent to execute a pay-off
letter to Borrower evidencing the termination of this Agreement (including Sections 5, 6 and 8) and the other Credit Documents;
provided that all provisions that survive termination of this Agreement and the other Credit Documents shall survive such
termination.

SECTION
10.

MISCELLANEOUS

10.1         
Notices.

(a)               
Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given
to a Credit Party, the L/C Issuer or the Administrative Agent, shall be sent to such Person’s address, as set forth on Appendix
A or in the other relevant Credit Document, and in the case of any Lender, the address, as indicated on Appendix A or otherwise
indicated to Administrative Agent in writing. Each notice hereunder shall be in writing and may be personally served, or sent by
telecopy or United States mail or courier service and shall be deemed to have been given when delivered in person or by courier
service and signed for against receipt thereof, upon receipt of telecopy, or three Business Days after depositing it in the United
States mail with postage prepaid and properly addressed; provided, no notice to the Administrative Agent shall be effective
until received by the Administrative Agent.

(b)              
Electronic Communications.

(i)       Notices
and other communications to Lenders and the L/C Issuer hereunder may be delivered or furnished by Approved Electronic Communication
(including e-mail and Internet or intranet websites, including the Information Platform) pursuant to procedures approved by the
Administrative Agent; provided, that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to
Section 2, if such Lender or the L/C Issuer has notified the Administrative Agent that it is incapable of receiving notices under
such Section by electronic communication. The Administrative Agent or Borrower may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided, further,
that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise
prescribes, (x) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement); provided, that if such notice or other communication is not sent during
the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business
on the next Business Day for the recipient and (y) notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address, as described in the foregoing clause (x),
of notification that such notice or communication is available and identifying the website address therefor.

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(ii)       Each
Credit Party understands that the distribution of material through an electronic medium is not necessarily secure and that there
are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with such electronic
distribution, except to the extent caused by the gross negligence or willful misconduct of the Administrative Agent, as determined
by a final, non-appealable judgment of a court of competent jurisdiction.

(iii)       The
Information Platform and any Approved Electronic Communications are provided “as is” and “as available”.
Neither the Administrative Agent nor any of its respective officers, directors, employees, agents, advisors or representatives
(the “Administrative Agent Affiliates”) warrant the accuracy, adequacy, or completeness of the Approved Electronic
Communications or the Information Platform and each expressly disclaims liability for errors or omissions in the Information Platform
and the Approved Electronic Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability,
fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made
by the Administrative Agent Affiliates in connection with the Information Platform or the Approved Electronic Communications. Each
party hereto agrees that the Administrative Agent has no responsibility for maintaining or providing any equipment, software, services
or any testing required in connection with any Approved Electronic Communication or otherwise required for the Information Platform.
In no event shall the Administrative Agent nor any of the Administrative Agent Affiliates have any liability to any Credit Party,
any Lender or any other Person for damages of any kind, whether or not based on strict liability and including direct or indirect,
special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of any Credit
Party’s or the Administrative Agent’s transmission of communications through the internet.

(iv)       Each
Credit Party, each Lender, the L/C Issuer and the Administrative Agent agree that the Administrative Agent may, but shall not be
obligated to, store any Approved Electronic Communications on the Information Platform in accordance with the Administrative Agent’s
customary document retention procedures and policies.

(v)       All
uses of the Information Platform shall be governed by, and subject to, in addition to this Section 10.1(b), separate terms and
conditions posted or referenced in such Information Platform and related agreements executed by the Lenders and their Affiliates
in connection with the use of such Information Platform.

(vi)       Any
notice of Default or Event of Default may be provided by telephonic notice, if confirmed promptly thereafter by delivery of written
notice thereof.

(vii)       Each
Public Lender agrees to cause at least one individual at, or on behalf of, such Public Lender to at all times have selected the
“Private Side Information” or similar designation on the content declaration screen of the Information Platform in
order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable
Law, including United States Federal and state securities Laws, to make reference to Borrower materials that are not made available
through the “Public Side Information” portion of the Information Platform and that may contain material non-public
information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.

10.2         
Expenses.

Whether or not the transactions contemplated
hereby shall be consummated, Borrower agrees to pay, promptly upon demand (i) all the actual and reasonable costs and expenses
of preparation of the Credit Documents and any consents, amendments, waivers or other modifications thereto (whether

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or not effective); (ii) all the costs of furnishing all opinions
by counsel for Borrower and the other Credit Parties; (iii) all the actual and reasonable costs and expenses (including the actual
and reasonable fees, charges and disbursements of a single counsel to the Administrative Agent and the L/C Issuer (in addition
to local or specialized counsel)) of the Administrative Agent and the L/C Issuer in connection with the negotiation, preparation,
execution and administration of the Credit Documents and any consents, amendments, waivers or other modifications thereto (whether
or not effective) and any other documents or matters requested by Borrower; (iv) all other actual and reasonable costs and expenses
incurred by the Administrative Agent in connection with the syndication of the Loans and Commitments and the negotiation, preparation
and execution of the Credit Documents and any consents, amendments, waivers or other modifications thereto and the transactions
contemplated thereby; (v) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment,
renewal or extension of any Letter of Credit or any demand for payment thereunder; and (vi) after the occurrence of a Default or
an Event of Default, all costs, amounts required to be indemnified pursuant to the provisions of any Credit Document, expenses,
fees, commission, taxes and other amounts (including the actual and reasonable fees, charges and disbursements of a single counsel
(in addition to local or specialized counsel, and, in the case of an actual or perceived conflict of interest (based on advice
of counsel) where the Indemnitee or Indemnitees affected by such conflict inform you of such conflict, one additional firm of counsel
for all such affected Indemnitees) and financial and other professional advisors for the Administrative Agent and a single counsel
for the other Beneficiaries, taken as a whole) and costs of settlement incurred by the Administrative Agent or any Beneficiary
in enforcing any Obligations of or in collecting any payments due from, any Credit Party hereunder or under the other Credit Documents
by reason of such Default or Event of Default (including in connection with the enforcement of the Guaranty), and all reasonable
expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith and all amounts for which
the Administrative Agent is entitled to indemnification pursuant to the provisions of any Credit Document, until paid in full,
or in connection with any refinancing or restructuring of the credit arrangements provided hereunder in the nature of a “work
out” or pursuant to any insolvency or bankruptcy cases or proceedings or otherwise incurred in connection with any bankruptcy
or insolvency proceedings, including, without limitation, a case or cases under the United States Bankruptcy Code filed by or against
any Credit Party.

10.3         
Indemnity.

(a)               
In addition to the payment of expenses pursuant to Section 10.2, whether or not the transactions contemplated hereby shall
be consummated, each Credit Party agrees to defend (subject to Indemnitees’ selection of counsel), indemnify, pay and hold
harmless, the Administrative Agent, the L/C Issuer, the Arrangers and each Lender, their respective Affiliates and their respective
officers, partners, directors, shareholders, trustees, employees, representatives, agents, advisors and attorneys (each, an “Indemnitee”),
from and against any and all Indemnified Liabilities, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART,
OUT OF THE COMPARATIVE, CONTRIBUTORY, OR SOLE NEGLIGENCE OF SUCH PERSON; provided that no Credit Party shall have any
obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities, to the extent such Indemnified Liabilities
arise from the gross negligence , bad faith or willful misconduct of that Indemnitee or its Indemnitee Related Persons, as determined
by a court of competent jurisdiction in a final, nonappealable order. To the extent that the undertakings to defend, indemnify,
pay and hold harmless set forth in this Section 10.3 may be unenforceable, in whole or in part, because they are violative of any
law or public policy, the applicable Credit Party shall contribute the maximum portion that it is permitted to pay and satisfy
under applicable Law to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees, or any of them.

(b)              
To the extent permitted by applicable Law, no Credit Party shall assert, and each Credit Party hereby waives, any claim
against Lenders, the L/C Issuer, the Administrative Agent and their

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respective Affiliates, partners, directors, shareholders,
trustees, employees, representatives, agents, advisors or attorneys, on any theory of liability, for special, indirect, consequential
or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty
imposed by any applicable legal requirement) arising out of, in connection with, as a result of, or in any way related to, this
Agreement or any Credit Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein,
the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring
in connection therewith, and each Credit Party hereby waives, releases and agrees not to sue upon any such claim or any such damages,
whether or not accrued, and whether or not known or suspected to exist in its favor.

(c)               
All amounts due under this Section 10.3 shall be due and payable within ten Business Days after demand therefor.

(d)              
To the extent Borrower for any reason fails to pay any amount required under Section 10.2 or paragraph (a) or (b) of this
Section 10.3 to be paid by it to the Administrative Agent (or any sub-agent thereof) or any Affiliate of any of the foregoing within
the time specified above, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Affiliate,
as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense
or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective, whether or not the related losses, claims,
damages, liabilities and related expenses are incurred, or asserted, by any party hereto or any third party); provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against the Administrative Agent (or any such sub-agent), in its capacity as such, or against any Affiliate of any
of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity. The obligations
of the Lenders under this paragraph (d) are subject to the provisions of Section 2.12. Each Lender further agrees that in the event
a distribution to the Beneficiaries is made that does not conform
to the provisions of Section 2.12(f), each Lender agrees that it shall turn over to the Administrative Agent all amounts payable
(or which would have been payable to the Administrative Agent or made in conformity with Section 2.12(f)) to the Administrative
Agent pursuant to Section 2.12(f).

10.4         
Set Off.

In addition to any rights now or hereafter
granted under applicable Law and not by way of limitation of any such rights, upon the occurrence and during the continuance of
any Event of Default each Lender, the L/C Issuer and their respective Affiliates are hereby authorized by each Credit Party, at
any time or from time to time, subject to the consent of Administrative Agent (such consent not to be unreasonably withheld or
delayed), without notice to any Credit Party or to any other Person (other than Administrative Agent), any such notice being hereby
expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness evidenced
by certificates of deposit, whether matured or unmatured, but not including trust accounts (in whatever currency)), and any other
Indebtedness at any time held or owing by such Lender or the L/C Issuer to, or for the credit, or the account, of any Credit Party
(in whatever currency) against and on account of the obligations and liabilities of any Credit Party to such Lender or the L/C
Issuer hereunder and under the Letters of Credit and participations therein and the other Credit Documents, including all claims
of any nature or description arising out of, or connected, herewith or with the Letters of Credit and participations therein or
any other Credit Document, irrespective of whether or not (a) such Lender or the L/C Issuer shall have made any demand hereunder,
(b) the principal of, or the interest or fees on, the Loans, any amounts drawn or fees payable in respect of the Letters of Credit
or any other amounts due hereunder shall have become due and payable, and although such obligations and liabilities, or any of
them, may be contingent or

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unmatured or (c) such obligation or liability is owed to
a branch or office of such Lender or the L/C Issuer different from the branch or office holding such deposit or obligation or such
Indebtedness.

10.5         
Amendments and Waivers.

(a)               
Requisite Lenders’ Consent. Subject to Sections 10.5(b) and 10.5(c), no amendment, modification, termination
or waiver of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall in any event
be effective without the written concurrence of Borrower and (i) in the case of this Agreement, Administrative Agent and the Requisite
Lenders or (ii) in the case of any other Credit Document, Administrative Agent, with the consent of the Requisite Lenders.

(b)              
Affected Lenders’ Consent. Without the written consent of each Lender (other than a Defaulting Lender) that
would be affected thereby, no amendment, modification, termination, or consent shall be effective if the effect thereof would:

                                                       
(i)          increase,
or extend the maturity of, the Commitment of such Lender;

                                                     
(ii)          waive,
reduce or postpone any scheduled repayment due such Lender (but not prepayment);

                                                   
(iii)          reduce
the rate of interest on any Loan of such Lender (including, for the avoidance of doubt, any amendment to the definition of “Default
Rate” and any waiver of any increase in the interest rate applicable to any Loan pursuant to Section 2.7) or any fee payable
hereunder;

                                                   
(iv)          extend
the time for payment of any interest or fees to such Lender;

                                                     
(v)          reduce
the principal amount of any Loan;

                                                   
(vi)          amend,
modify, terminate or waive any provision of this Section 10.5(b) or Section 10.5(a) or (c), other than to add any provision that
is subject to the consent of each affected Lender or all Lenders;

                                                 
(vii)          amend
Section 2.11(a), 2.11(b), 2.12(f), 2.13 or the definition of “Applicable Percentage,” “Requisite Lenders,”
“Requisite Tranche Lenders,” “Requisite Tranche 1 Lenders” or “Requisite Tranche 2 Lenders”;
provided, with the consent of Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant hereto
may be included in the determination of “Applicable Percentage,” “Requisite Lenders,” “Requisite
Tranche Lenders,” “Requisite Tranche 1 Lenders” or “Requisite Tranche 2 Lenders”, on substantially
the same basis as the Commitments and Outstanding Amounts are included on the Closing Date;

                                               
(viii)          release
all or substantially all of the value of the Guaranty or Guaranties, except as expressly provided in the Credit Documents; or

                                                   
(ix)          consent
to the assignment or transfer by any Credit Party of any of its rights and obligations under any Credit Document, except pursuant
to any transaction permitted under Section 6.4.

(c)               
Other Consents. No amendment, modification, termination or waiver of any provision of the Credit Documents, or consent
to any departure by any Credit Party therefrom, shall:

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(i)          
unless in writing and signed by the L/C Issuer, the Administrative Agent and the Requisite Tranche 2 Lenders (without the consent
of any other Lender), affect the rights or duties of the L/C Issuer or any Tranche 2 Lender under this Agreement or any Issuer
Document relating to any Letter of Credit issued, or to be issued, by it or amend any provision of Section 2.20;

                                                     
(ii)          unless
in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the
Administrative Agent under this Agreement or any other Credit Document; or

                                                   
(iii)          amend
or waive Section 8.1(k) or the definition of “Change of Control,” without consent of Lenders holding two-thirds of
the sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation
in L/C Obligations being deemed, without duplication, “held” by such Lender for purposes of this definition) and (b)
the aggregate unused Commitments; provided that the unused Commitment of, and the portion of the Total Outstandings held
or deemed held by, any Defaulting Lender shall be excluded for this purpose.

Anything herein to the contrary notwithstanding,
during such period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable Law, such Lender will not
be entitled to vote in respect of amendments and waivers hereunder and the Commitment and the outstanding Loans of such Lender
hereunder will not be taken into account in determining whether the Requisite Lenders or all of the affected Lenders, as required,
have approved any such amendment or waiver (and the definition of “Requisite Lenders,” “Requisite Tranche Lenders,”
“Requisite Tranche 1 Lenders” and “Requisite Tranche 2 Lenders” will automatically be deemed modified accordingly
for the duration of such period); provided, that any such amendment or waiver that is described in any of clauses (i) through
(v) of Section 10.5(b) or that would alter the terms of this proviso, will require the consent of such Lender.

(d)              
Execution of Amendments, etc. Administrative Agent may, but shall have no obligation to, with the concurrence of
any Lender, execute amendments, modifications, waivers or consents, on behalf of such Lender. Any waiver or consent shall be effective
only in the specific instance and for the specific purpose for which it was given. Except to the extent that any such notice or
demand is required to be given under this Agreement or any other Credit Document, no notice to, or demand on, any Credit Party
in any case shall entitle any Credit Party to any other or further notice or demand in similar or other circumstances. Any amendment,
modification, termination, waiver or consent effected in accordance with this Section 10.5 shall be binding upon each Lender at
the time outstanding, each future Lender and, if signed by a Credit Party, on such Credit Party.

10.6         
Successors and Assigns; Participations.

(a)               
Generally. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and permitted assigns . No Credit Party’s rights or obligations hereunder, nor any interest therein, may be assigned
or delegated by any Credit Party without the prior written consent of the Administrative Agent and all Lenders, except as permitted
in Section 10.5(b)(ix) (and any attempted assignment or transfer by any Credit Party without such consent shall be null and void).
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, Affiliates of the Administrative
Agent and Lenders and Indemnitees) any legal or equitable right, remedy or claim under, or by reason of, this Agreement.

(b)              
Borrower, the Administrative Agent and Lenders shall deem and treat the Persons listed as Lenders in the Register, as the
holders and owners of the corresponding Commitments

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and Loans listed therein for all purposes hereof, and no
assignment or transfer of any such Commitment or Loan shall be effective, in each case, unless and until recorded in the Register
following receipt of a fully executed Assignment Agreement effecting the assignment or transfer thereof, together with the required
forms and certificates regarding Tax matters and any fees payable in connection with such assignment, in each case, as provided
in Section 10.6(d). Each assignment shall be recorded in the Register promptly following receipt by the Administrative Agent of
the fully executed Assignment Agreement and all other necessary documents and approvals, prompt notice thereof shall be provided
to Borrower and a copy of such Assignment Agreement shall be maintained, as applicable. The date of such recordation of a transfer
shall be referred to herein as the “Assignment Effective Date.” Any request, authority or consent of any Person
who, at the time of making such request or giving such authority or consent, is listed in the Register as a Lender shall be conclusive
and binding on any subsequent holder, assignee or transferee of the corresponding Commitments or Loans. Solely for the purposes
of maintaining the Register and for tax purposes, only Administrative Agent shall be deemed to be acting on behalf of the Credit
Parties.

(c)               
Right to Assign. Each Lender shall have the right at any time to sell, assign or transfer all or a portion of its
rights and obligations under this Agreement, including all or a portion of its Commitment or Loans owing to it or other Obligations
(provided that pro rata assignments shall not be required and each assignment shall be of a uniform, and not varying, percentage
of all rights and obligations under, and in respect of, any applicable Loan and any related Commitments), to any Eligible Assignee;
provided that (i) unless the assignee is a Lender, the consent of the Administrative Agent and the L/C Issuer shall be required
and (ii) unless either (x) the assignee is a Lender or an Affiliate of a Lender or a Related Fund or (y) an Event of Default exists,
the consent of Borrower shall be required (each such consent not to be unreasonably withheld, conditioned or delayed; it being
understood that Borrower will be deemed to have provided such consent in the event that it shall have failed to respond to a consent
request made in writing and delivered in accordance with Section 10.1 within 10 Business Days of such delivery); provided
that each such assignment of Loans or Commitments pursuant to this Section 10.6(c) shall be in an aggregate amount of not less
than $5,000,000 (or such lesser amount as may be agreed to by Borrower and the Administrative Agent or as shall constitute the
aggregate amount of the Loans or the total Commitment, respectively, of the assigning Lender); provided, that the Related
Funds of any individual Lender may aggregate their Loans for purposes of determining compliance with such minimum assignment amounts.
Notwithstanding anything to the contrary contained herein, the Administrative Agent shall be under no obligation to determine whether
an assignee is an Eligible Assignee and shall have no responsibility for monitoring or enforcing the requirement that only Eligible
Assignees shall be Lenders.

(d)              
Mechanics. Assignments and assumptions of Loans and Commitments by Lenders shall be effected by manual execution
and delivery to the Administrative Agent of an Assignment Agreement. Assignments made pursuant to the foregoing provision shall
be effective as of the Assignment Effective Date. In connection with all assignments, there shall be delivered to the Administrative
Agent such forms, certificates or other evidence, if any, with respect to United States federal income Tax withholding matters,
as the assignee under such Assignment Agreement may be required to deliver pursuant to Section 2.16(e), together with payment to
the Administrative Agent of a registration and processing fee of $3,500; provided, however, that the Administrative
Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee,
if not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

(e)               
Representations and Warranties of Assignee. Each Lender, upon execution and delivery hereof or upon succeeding to
an interest in the Commitments and Loans, as the case may be, represents and warrants, as of the Closing Date or as of the Assignment
Effective Date, that (i) it is an Eligible Assignee; (ii) it has experience and expertise in the making of, or investing in, commitments
or

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loans such as the applicable Commitments or Loans, as the
case may be, and is capable of evaluating the creditworthiness of Borrower; and (iii) it shall make, or invest in, as the case
may be, its Commitments or Loans for its own account in the ordinary course and without a view to distribution of such Commitments
or Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being understood that,
subject to the provisions of this Section 10.6, the disposition of such Commitments or Loans or any interests therein shall at
all times remain within its exclusive control).

(f)               
Effect of Assignment. Subject to the terms and conditions of this Section 10.6, as of the “Assignment Effective
Date” (i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder, to the extent
of its interest in the Loans and Commitments, as reflected in the Register, and shall thereafter be a party hereto and a “Lender”
for all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been
assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof, including under Section
10.7) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of
an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective
Date; provided that anything contained in any of the Credit Documents to the contrary notwithstanding, such assigning Lender
shall continue to be entitled to the benefit of all indemnities hereunder, as specified herein, with respect to matters arising
out of the prior involvement of such assigning Lender as a Lender hereunder); (iii) the Commitments shall be modified to reflect
any Commitment of such assignee; and (iv) if any such assignment occurs after the issuance of any Note hereunder, the assigning
Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes
to the Administrative Agent for cancellation, and thereupon Borrower shall issue and deliver new Notes, if so requested by the
assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect outstanding
Loans of the assignee and/or the assigning Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with the requirements of this Section 10.6 shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with Section 10.6(g). Any assignment by a Lender pursuant
to this Section 10.6 shall not in any way constitute, or be deemed to constitute, a novation, discharge, rescission, extinguishment
or substitution of the Indebtedness hereunder, and any Indebtedness so assigned shall continue to be the same obligation and not
a new obligation.

(g)               
Participations.

(i)       Each
Lender shall have the right at any time to sell one or more participations to any Person (other than a natural person, a Disqualified
Person, Borrower, or any Affiliate of Borrower) in all or any part of its Commitments, Loans or in any other Obligation.

(ii)       The
holder of any such participation, other than an Affiliate of the Lender granting such participation (a “Participant”),
shall not be entitled to require such Lender to take or omit to take any action hereunder, except with respect to any amendment,
modification or waiver that would (A) increase, or extend the maturity of, the Commitment in which such Participant is participating,
or reduce the rate or extend the time of payment of interest or fees on, or reduce the principal amount of, any Loan in which such
Participant is participating, or increase the amount of the Participant’s participation over the amount thereof then in effect
(it being understood that a waiver of any Default or Event of Default or of a mandatory reduction in the Commitment shall not constitute
a change in the terms of such participation, and that an increase in any Commitment or Loan shall be permitted without the consent
of any Participant, if the Participant’s participation is not increased as a result thereof) or (B) amend the definition
of “Applicable Percentage,” “Requisite Lenders,” or, to the extent of their participation in the relevant
Tranche, “Requisite Tranche Lenders,” “Requisite Tranche 1 Lenders” or “Requisite Tranche 2 Lenders,”
except as such amendment is permitted by the proviso in Section 10.5(b)(vii).

    	-107-

    	 

    

(iii)       Borrower
agrees that each Participant shall be entitled to the benefits of Sections 2.14(c), 2.15 and 2.16, to the same extent as if it
were a Lender and had acquired its interest by assignment pursuant to paragraph (c) of this Section 10.6 (subject to the requirements
and limitations therein, including the requirement to provide forms under Section 2.16(e)) (which forms shall be provided solely
to the applicable Lender selling such participation); provided, that a Participant shall not be entitled to receive any
greater payment under Section 2.15 or 2.16 than the applicable Lender would have been entitled to receive with respect to the participation
sold to such Participant, except to the extent the entitlement to a greater payment results from a change in Law that occurs after
such Participant acquires the applicable participation; provided, further, that nothing herein shall require any
notice to Borrower or any other Person in connection with the sale of any participation. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.4, as though it were a Lender; provided, that such Participant agrees
to be subject to Section 2.17, as though it were a Lender.

(iv)       Each
Lender that sells a participation shall, acting as a non-fiduciary agent of Borrower, maintain a register on which it enters the
name and address of each Participant and the principal amounts of each Participant’s interest in the Commitments, Loans and
other Obligations held by it (the “Participant Register”). The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as
the Participant for all purposes of this Agreement, notwithstanding any notice to the contrary. Any such Participant Register shall
be confidential, except to the extent the relevant parties, acting reasonably and in good faith, determine that such disclosure
is necessary to establish that such Commitment, Loan or other Obligation is in registered form under Section 5f.103-1(c) of the
United States Treasury Regulations. Unless otherwise required by the Internal Revenue Service, any disclosure required by the foregoing
sentence shall be made by the relevant Lender directly and solely to the Internal Revenue Service.

(h)              
Certain Other Assignments and Participations. In addition to any other assignment or participation permitted pursuant
to this Section 10.6, any Lender may assign, pledge and/or grant a security interest in (without the consent of Borrower or the
Administrative Agent) all or any portion of its Loans, the other Obligations owed by or to such Lender, and its Notes, if any,
to secure obligations of such Lender including to any Federal Reserve Bank, as collateral security pursuant to Regulation A of
the Board of Governors and any operating circular issued by such Federal Reserve Bank; provided that no Lender, as between
Borrower and such Lender, shall be relieved of any of its obligations hereunder as a result of any such assignment and pledge;
provided, further, that in no event shall the applicable Federal Reserve Bank, pledgee or trustee, be considered
to be a “Lender” or be entitled to require the assigning Lender to take or omit to take any action hereunder.

(i)                
Resignation as L/C Issuer After Assignment. Notwithstanding anything to the contrary contained herein, if at any
time Bank of America assigns all of its Commitment and Loans pursuant to Section 10.6(c), Bank of America upon 45 days’ notice
to Borrower and the Lenders, may resign as the L/C Issuer. In the event of any such resignation as the L/C Issuer, Borrower shall
be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure
by Borrower to appoint any such successor shall affect the resignation of Bank of America as the L/C Issuer. If Bank of America
resigns as the L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect
to all Letters of Credit issued by it and outstanding, as of the effective date of its resignation as the L/C Issuer, and all L/C
Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations
in Unreimbursed Amounts pursuant to Section 2.20(c)). Subject to the previous sentence, upon the appointment of a successor L/C
Issuer, (a) such successor shall succeed to, and become vested with, all of the rights, powers, privileges and duties of the retiring
L/C Issuer and (b) the successor L/C Issuer shall issue letters of credit and bankers’ acceptances in substitution for the
Letters of Credit, if any, outstanding

    	-108-

    	 

    

at the time of such succession or make other arrangements,
satisfactory to Bank of America, to effectively assume the obligations of Bank of America with respect to such Letters of Credit.

10.7         
Survival of Representations, Warranties and Agreements.

All representations, warranties and agreements
made herein shall survive the execution and delivery hereof and the making of any Credit Extension. Notwithstanding anything herein
or implied by law to the contrary, the agreements of each Credit Party set forth in Sections 2.14(c), 2.15, 2.16, 10.2, 10.3 and
10.4 and the agreements of Lenders set forth in Sections 2.13, 9.3(b) and 9.6 shall survive the payment of the Loans, the cancellation
or expiration of the Letters of Credit and the reimbursement of any amounts drawn thereunder, and the termination hereof.

10.8         
No Waiver; Remedies Cumulative.

No failure or delay on the part of the
Administrative Agent or any Lender in the exercise of any power, right or privilege hereunder or under any other Credit Document
shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any
single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other power,
right or privilege. The rights, powers and remedies given to the Administrative Agent and each Lender hereby are cumulative and
shall be in addition to, and independent of, all rights, powers and remedies existing by virtue of any statute or rule of law or
in any of the other Credit Documents. Any forbearance or failure to exercise, and any delay in exercising, any right, power or
remedy hereunder shall not impair any such right, power or remedy or be construed to be a waiver thereof, nor shall it preclude
the further exercise of any such right, power or remedy.

10.9         
Marshalling; Payments Set Aside.

Neither the Administrative Agent nor any
Lender shall be under any obligation to marshal any assets in favor of any Credit Party or any other Person or against, or in payment
of, any or all of the Obligations. To the extent that any Credit Party makes a payment or payments to Administrative Agent or Lenders
(or to Administrative Agent, on behalf of Lenders), or Administrative Agent or Lenders enforce any security interests or exercise
their rights of setoff, and such payment or payments or the proceeds of such enforcement or setoff, or any part thereof, are subsequently
invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other
party under any bankruptcy law, any other state or federal law, common law or any equitable cause, then, to the extent of such
recovery, the Obligation, or part thereof, originally intended to be satisfied, and all Liens, rights and remedies therefor or
related thereto, shall be revived and continued in full force and effect, as if such payment or payments had not been made or such
enforcement or setoff had not occurred.

10.10     
Severability.

In case any provision herein or obligation
hereunder or any Note or other Credit Document shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality
and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

10.11     
Obligations Several; Independent Nature of Lenders’ Rights.

The obligations of Lenders hereunder are
several and no Lender shall be responsible for the obligations or Commitment of any other Lender hereunder. Nothing contained herein
or in any other Credit Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to

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constitute Lenders as a partnership, an association, a joint
venture or any other kind of entity. The amounts payable at any time hereunder to each Lender shall be a separate and independent
debt, and each Lender shall be entitled to protect and enforce its rights arising out hereof and it shall not be necessary for
any other Lender to be joined as an additional party in any proceeding for such purpose.

10.12     
Headings.

Section headings herein are included herein
for convenience of reference only and shall not constitute a part hereof for any other purpose or be given any substantive effect.

10.13     
APPLICABLE LAW.

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

10.14     
CONSENT TO JURISDICTION.

(a)               
ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY CREDIT PARTY ARISING UNDER, OR RELATING TO, THIS AGREEMENT OR ANY OTHER
CREDIT DOCUMENT, OR ANY OF THE OBLIGATIONS, MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE,
COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, IRREVOCABLY (i) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (ii)
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (iii) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY
BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE CREDIT PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE
WITH SECTION 10.1 AND IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN
ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (iv) AGREES THAT THE ADMINISTRATIVE
AGENT AND LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT
PARTY IN THE COURTS OF ANY OTHER JURISDICTION.

(b)              
EACH CREDIT PARTY HEREBY AGREES THAT PROCESS MAY BE SERVED ON IT BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE
ADDRESSES PERTAINING TO IT, AS SPECIFIED IN SECTION 10.1. ANY AND ALL SERVICE OF PROCESS AND ANY OTHER NOTICE IN ANY SUCH ACTION,
SUIT OR PROCEEDING SHALL BE EFFECTIVE AGAINST ANY CREDIT PARTY, IF GIVEN BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED,
OR BY ANY OTHER MEANS OR MAIL WHICH REQUIRES A SIGNED RECEIPT, POSTAGE PREPAID, MAILED, AS PROVIDED ABOVE.

10.15     
WAIVER OF JURY TRIAL.

EACH OF THE PARTIES HERETO HEREBY AGREES
TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED

    	-110-

    	 

    

ON, OR ARISING UNDER ANY OF THE CREDIT DOCUMENTS OR ANY
DEALINGS BETWEEN OR AMONG THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT
IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN
ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER
INTO A BUSINESS RELATIONSHIP, THAT EACH PARTY HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH
PARTY WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT
IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT, KNOWINGLY AND VOLUNTARILY, WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED, EITHER ORALLY OR IN WRITING (OTHER
THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 10.15 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS
WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER CREDIT DOCUMENTS
OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE
FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

10.16     
Confidentiality.

The Administrative Agent, the L/C Issuer,
the Arrangers, the Other Agent and Lender shall hold all non-public, confidential or proprietary information regarding Borrower
and its Subsidiaries and their businesses clearly identified as such by Borrower and obtained by the Administrative Agent, the
L/C Issuer, such Arranger, such Other Agent or such Lender pursuant to the requirements hereof in accordance with such Agent’s,
the L/C Issuer’s, such Arranger’s, such Other Agent’s or such Lender’s customary procedures for handling
confidential information of such nature; it being understood and agreed by Borrower that, in any event, the Administrative Agent,
the L/C Issuer, an Arranger, an Other Agent or a Lender may make (i) disclosures of such information to Affiliates of such Person
and to their directors, officers, employees, agents and advisors (and to other persons authorized by a Lender, the Administrative
Agent, the L/C Issuer, an Arranger or an Other Agent to organize, present or disseminate such information in connection with disclosures
otherwise made in accordance with this Section 10.16); provided that such Affiliates, directors, officers, employees, agents,
advisors or other persons are advised of, and agreed to, or are otherwise obligated to be bound by, the provisions of this Section
10.16, (ii) disclosures of such information reasonably required by any bona fide or potential assignee, transferee, Participant,
sub-participant or counterparty in connection with the contemplated assignment, transfer, participation or transaction (x) by the
Administrative Agent of any agency position, (y) by such Lender or the L/C Issuer of any Loans or Letters of Credit or any participations
therein or (z) by any direct or indirect contractual counterparties, including, for the avoidance of doubt, in respect of any swap
or derivative transactions (or the professional advisors thereto) (provided that such bona fide or potential assignees,
transferees, participants, sub-participants, and counterparties and advisors are advised of, and agree to be bound by, the provisions
of this Section 10.16), (iii) disclosure to any rating agency, when required by it; provided that, prior to any disclosure,
such rating agency shall undertake in writing to preserve the confidentiality of any confidential information relating to the Credit
Parties received by it from the Administrative Agent, the L/C Issuer, any Arranger or Other Agent or any Lender, (iv) disclosures
to any Lender’s financing sources; provided that prior to any disclosure, such financing source

    	-111-

    	 

    

is informed of the confidential nature of the information
and agrees to be bound by the provisions of this Section 10.16, (v) disclosure of information which (A) becomes publicly available
other than as a result of a breach of this Section 10.16 or (B) becomes available to Administrative Agent, any Arranger, any Other
Agent, the L/C Issuer or any Lender on a non-confidential basis from a source other than Borrower, (vi) disclosures required or
requested by any governmental agency by law or Financial Industry Regulatory Authority, New York Stock Exchange and any other “self-regulatory
organizations” as defined by SEC rules or representative thereof or by the NAIC or pursuant to legal or judicial process,
(vii) disclosures with consent of Borrower; provided, unless specifically prohibited by applicable Law or court order, the
Administrative Agent, the L/C Issuer, such Arranger, such Other Agent or such Lender (as the case may be) shall make reasonable
efforts to notify Borrower of any request or requirement by any governmental agency or representative thereof or by the NAIC or
pursuant to legal or judicial process (other than any such request in connection with any examination of the financial condition
or other routine examination of the Administrative Agent, the L/C Issuer, such Arranger, such Other Agent or such Lender (as the
case may be) by such governmental agency) for disclosure of any such non-public information prior to disclosure of such information
and (viii) disclosures to any other party hereto. Notwithstanding the foregoing, on or after the Closing Date, the Administrative
Agent, the Arrangers and the Other Agents may, at their respective own expense, issue news releases and publish “tombstone”
advertisements and other announcements relating to this transaction in newspapers, trade journals and other appropriate media,
in each case, with the content thereof (other than with respect to “tombstone” advertisements) having been approved
beforehand by Borrower. Notwithstanding any other provision of this Section 10.16, the parties (and each employee, representative,
or other agent of the parties) may disclose to any and all Persons, without limitation of any kind, the Tax treatment and any facts
that may be relevant to the Tax structure of the transactions contemplated by this Agreement and the other Credit Documents; provided,
however, that no party (and no employee, representative, or other agent thereof) shall disclose any other information that
is not relevant to an understanding of the Tax treatment and Tax structure of the transaction (including the identity of any party
and any information that could lead another Person to determine the identity of any party), or any other information, to the extent
that such disclosure could reasonably result in a violation of any applicable securities law.

10.17     
Usury Savings Clause.

Notwithstanding any other provision herein,
the aggregate interest rate charged or agreed to be paid with respect to any of the Obligations, including all charges or fees
in connection therewith deemed in the nature of interest under applicable Law shall not exceed the Highest Lawful Rate. If the
rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful
Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate, until the total amount
of interest due hereunder equals the amount of interest which would have been due hereunder, if the stated rates of interest set
forth in this Agreement had at all times been in effect. In addition, if, when the Loans made hereunder are repaid in full, the
total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which
would have been due hereunder, if the stated rates of interest set forth in this Agreement had at all times been in effect, then,
to the extent permitted by law, Borrower shall pay to Administrative Agent an amount equal to the difference between the amount
of interest paid and the amount of interest which would have been paid, if the Highest Lawful Rate had at all times been in effect.
Notwithstanding the foregoing, it is the intention of Lenders and Borrower to conform strictly to any applicable usury laws. Accordingly,
if any Lender contracts for, charges, or receives any consideration which constitutes, interest in excess of the Highest Lawful
Rate, then any such excess shall be cancelled automatically and, if previously paid, shall be refunded to Borrower. In determining
whether the interest contracted for, charged, or received, by Administrative Agent or a Lender exceeds the Highest Lawful Rate,
such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee,
or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof,

    	-112-

    	 

    

and (c) amortize, prorate, allocate, and spread in equal
or unequal parts the total amount of interest, throughout the contemplated term of the Obligations hereunder.

10.18     
Guaranty.

(a)               
Each Lender hereby authorizes Administrative Agent, on behalf of, and for the benefit of, Lenders, to be the agent for and
representative of Lenders with respect to the Guaranty.

(b)              
Administrative Agent shall release any Lien on any property granted to or held by Administrative Agent under any Credit
Document, upon termination of the Commitments and payment in full of all Obligations (other than contingent reimbursement and indemnification
obligations not yet accrued and payable).

(c)               
Subject to Section 10.5, without further written consent or authorization from any Lender, the Administrative Agent may
execute any documents or instruments necessary to release any Guarantor from the Guaranty pursuant to Section 7.12 or with respect
to which Requisite Lenders (or such other Lenders, as may be required to give such consent under Section 10.5) have otherwise consented.

(d)              
Any release of guarantee obligations pursuant to this Section 10.18 shall be deemed subject to the provision that such guarantee
obligations shall be reinstated, if, after such release, any portion of any payment in respect of the Obligations guaranteed thereby
shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization
of Borrower or any Guarantor, or upon, or as a result of, the appointment of a receiver, intervenor or conservator of, or trustee
or similar officer for, Borrower or any Guarantor or any substantial part of its property, or otherwise, all as though such payment
had not been made.

10.19     
Patriot Act.

Each Lender and Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies the Credit Parties that, pursuant to the requirements of the Patriot Act,
it is required to obtain, verify and record information that identifies the Credit Parties, which information includes the name
and address of the Credit Parties and other information that will allow such Lender or Administrative Agent, as applicable, to
identify the Credit Parties in accordance with the Patriot Act.

10.20     
Disclosure.

Each Credit Party and each Lender hereby
acknowledges and agrees that Administrative Agent and/or its Affiliates and their respective Related Funds, from time to time,
may hold investments in, and make other loans to, or have other relationships with, any of the Credit Parties and their respective
Affiliates, including the ownership, purchase and sale of equity interests in Borrower, and each Credit Party and each Lender hereby
expressly consents to such relationships.

10.21     
Electronic Execution of Assignments.

The words “execution,” “signed,”
“signature,” and words of like import in any Assignment Agreement or in any amendment or other modification hereof
(including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability, as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic
Signatures in Global and National

    	-113-

    	 

    

Commerce Act, the New York State Electronic Signatures and
Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

10.22     
No Fiduciary Duty.

The Administrative Agent, each Lender,
each Arranger, the L/C Issuer, each Other Agent and their respective Affiliates (collectively, solely for purposes of this paragraph,
the “Lenders”), may have economic interests that conflict with those of Borrower, its stockholders and/or its
Affiliates. Borrower agrees that nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or
agency relationship or fiduciary or other implied duty between any Lender or any Agent, on the one hand, and Borrower, its stockholders
or its Affiliates, on the other hand. The Credit Parties acknowledge and agree that (i) the transactions contemplated by the Credit
Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions
between the Lenders and the Administrative Agent, on the one hand, and Borrower, on the other hand, and (ii) in connection therewith
and with the process leading thereto, (x) no Lender and no Agent has assumed an advisory or fiduciary responsibility in favor of
Borrower, its stockholders or its Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or
remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising
or will advise Borrower, its stockholders or its Affiliates on other matters) or any other obligation to Borrower except, the obligations
expressly set forth in the Credit Documents and (y) each Lender is acting solely as principal, and not as the agent or fiduciary
of Borrower, its management, stockholders, creditors or any other Person. Borrower acknowledges and agrees that Borrower has consulted
its own legal and financial advisors, to the extent it deemed appropriate, and that it is responsible for making its own independent
judgment with respect to such transactions and the process leading thereto. Borrower agrees that it will not claim that any Lender
or the Administrative Agent has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to Borrower,
in connection with such transaction or the process leading thereto.

10.23     
Entire Agreement.

This Agreement and the other Credit Documents
represent the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent
oral agreements of the parties. There are no oral agreements among the parties. This Agreement may be executed in counterparts
(and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which, when
taken together, shall constitute a single contract.

[Remainder of page intentionally left blank]

    	-114-

    	 

    

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

CIT GROUP INC.

		By:  	/s/ Scott
                                         Parker
		 	Name:  	Scott Parker
		 	Title:	Executive Vice President

and Chief Financial Officer

THE CIT GROUP/EQUIPMENT FINANCING,
INC.

C.I.T. LEASING CORPORATION

CIT LENDING SERVICES CORPORATION

CIT HEALTHCARE LLC

THE CIT GROUP/BUSINESS CREDIT, INC.

CIT FINANCIAL USA, INC.

CIT TECHNOLOGY FINANCING SERVICES,
INC.

CIT CAPITAL USA INC.

		By:  	/s/ Scott
                                         Parker
		 	Name:  	Scott Parker
		 	Title:	Executive Vice President

and Chief Executive Officer

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

BANK OF
AMERICA, N.A., as

Administrative Agent

	 	By:  	/s/ Dora A. Brown
	 	 	Name:  	Dora A. Brown
	 	 	Title: 	Vice President

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

BANK OF
AMERICA, N.A.,

as a Lender and L/C Issuer

	 	By:  	/s/ Scott W. Reynolds
	 	 	Name:  	Scott W. Reynolds
	 	 	Title: 	Director

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

 

Barclays
Bank PLC, 

as a Lender 

	 	By:  	/s/ Alicia Borys
	 	 	Name:   	Alicia Borys
	 	 	Title:   	Vice President

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

JPMorgan
Chase Bank, N.A., 

as a Lender 

	 	By:  	/s/ Neha Desai 
	 	 	Name:   	Neha Desai
	 	 	Title:   	Vice President

 

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

Credit Suisse
AG, Cayman Islands Branch, 

as a Lender 

	 	By:  	/s/ Bill O’Daly
	 	 	Name:   	Bill O’Daly
	 	 	Title:   	Authorized Signatory

If a second signature is necessary: 

	 	By:  	/s/ Alex Verdone
	 	 	Name:   	Alex Verdone
	 	 	Title:   	Authorized Signatory

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

MORGAN STANLEY BANK N.A., 

as a Lender 

	 	By:  	/s/ Kelly Chin
	 	 	Name:  	 Kelly Chin
	 	 	Title:   	Authorized Signatory

 

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

Morgan Stanley
Senior Funding, Inc., 

as a Lender 

	 	By:  	/s/ Kelly Chin
	 	 	Name:   	Kelly Chin
	 	 	Title:    	Vice President

 

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

Deutsche
Bank AG, New York Branch, 

as a Lender 

	 	By:  	/s/ Kirk L. Tashjian____
	 	 	Name:   	Kirk L. Tashjian
	 	 	Title:   	Vice President

If a second signature is necessary: 

	 	By:  	/s/ Peter Cucchiara_____
	 	 	Name:   	Peter Cucchiara
	 	 	Title:   	Vice President

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

Goldman
Sachs Bank USA, 

as a Lender 

	 	By:  	/s/ Mark Walton_______
	 	 	Name:  	Mark Walton
	 	 	Title:    	Authorized Signatory

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

Credit Agricole
Corporate & Investment Bank, 

as a Lender 

	 	By:  	/s/ Juliette Cohen
	 	 	Name:   	Juliette Cohen
	 	 	Title:   	Managing Director

If a second signature is necessary: 

	 	By:  	/s/ Gordon Yip
	 	 	Name:   	Gordon Yip
	 	 	Title:   	Director

    	[Signature Page to CIT Group Inc. Revolving Credit and Guaranty Agreement]

    	 

    

APPENDIX A

Notice Addresses

BORROWER & GUARANTORS:

CIT Group Inc.

1 CIT Drive

Livingston, NJ 07039

Attention: Michael J. McConnell, Director

Fax: (973) 740-5750

E-mail: mike.mcconnell@cit.com

in each case, with a copy to:

CIT Group Inc.

1 CIT Drive

Livingston, NJ 07039

Attention: General Counsel

Fax: (973) 740-5264

E-mail: robert.ingato@cit.com

in each case, with a copy to:

Sullivan & Cromwell LLP

125 Broad Street

New York, NY 10004

Attention: John E. Estes

Fax: (212) 558-3588

E-mail: estesj@sullcrom.com

    	Appendix A-1

    	 

    

BANK OF AMERICA, N.A.

as Administrative Agent and L/C Issuer:

For Operational Notices:

Bank of America, N.A.

TX1-492-14-11

901 Main Street

Dallas, Texas 75202-3714

Attention: Karen Puente

Tel: 972-338-3810

Fax: 214-290-8378

Email: karen.r.puente@baml.com

For Financial Reporting and All Other Notices:

Bank of America, N.A.

Agency Management

WA4-127-01-01

5727 196th SW

Lynnwood, WA 98036

Attention: Dora Brown

Tel: 206-358-0101

Fax: 415-343-0556

Email: dora.a.brown@baml.com

Payment Instructions:

Bank of America

New York, NY

ABA# 026009593

Attn: Credit Services

Ref: CIT Group

Acct# 1292000883

    	Appendix A-2

    	 

    
    SCHEDULE 1.1B

Aircraft Registration Jurisdictions

	1.	United States
	2.	Canada
	3.	Each of the following jurisdictions:

	Australia	Indonesia	South Korea	 
	Austria	Ireland	Spain	 
	Bangladesh	Israel	Sweden	 
	Belgium	Italy	Switzerland	 
	Bermuda	Japan	Taiwan	 
	Brazil	Jordan	Thailand	 
	Cape Verde	Kingdom of Bahrain	Trinidad & Tobago	 
	Chile	Malaysia	Turkey	 
	China	Mexico	United Arab Emirates	 
	Columbia	Netherlands	United Kingdom	 
	Denmark	New Zealand	Vietnam	 
	Ecuador	Norway	 	 
	El Salvador	Oman	 	 
	Ethiopia	Pakistan	 	 
	Finland	Panama	 	 
	France	Philippines	 	 
	Germany	Qatar	 	 
	Hong Kong	Saudi Arabia	 	 
	Iceland	Singapore	 	 
	India	South Africa	 	 

 

	4.	Any other jurisdiction
other than as specified in 1, 2 and 3 above (other than a Prohibited Country)

    	 

    	 

    

SCHEDULE 1.1C

L/C Subsidiaries

	L/C Subsidiary	Jurisdiction of Organization
	The CIT Group/Business Credit, Inc.	New York
	C.I.T. Leasing Corporation	Delaware
	The CIT Group/Equipment Financing, Inc.	Delaware
	CIT Lending Services Corporation	Delaware
	CIT Technology Financing Services, Inc.	Massachusetts
	CIT Capital USA Inc.	Delaware
	CIT Financial USA, Inc.	Delaware
	CIT Healthcare LLC	Delaware
	The CIT Group/Commercial Services, Inc.	New York
	CIT Loan Corporation	Delaware
	CIT Bank	Utah
	CIT Finance LLC	Delaware

 

    	Schedule 1.1C-1

    	 

    

SCHEDULE 1.1D

Regulated Subsidiaries

	Regulated Subsidiary	Jurisdiction of Organization
	ATMOR Properties Inc.	Delaware
	Banco Commercial Investment Trust do Brasil S.A. – Banco Múltiplo	Brazil
	CIT (France) SA	France
	CIT (France) SAS	France
	CIT Bank	Utah
	CIT Bank Limited	England - United Kingdom
	CIT Capital Securities LLC	Delaware
	CIT Commercial Services (Europe) GmbH	Frankfurt am Main, Germany
	CIT CBK Funding Company, LLC	Delaware
	CIT Equipment Trust – VFC Series CBK1	Delaware
	CIT Finance & Leasing Corporation	Peoples Republic of China
	CIT Finance LLC	Delaware
	CIT Financial (Hong Kong) Limited	Hong Kong
	CIT Financial (Korea) Limited	Korea, Seoul
	CIT Financial de Puerto Rico, Inc.	Puerto Rico
	CIT Group (Belgium) NV	Belgium
	CIT Group (Nordic) AB	Sweden
	CIT Group (Switzerland) AG	Switzerland
	CIT Group Italy Srl	Italy
	CIT Group Securities (Canada) Inc.	Ontario, Canada
	CIT Insurance Agency, Inc.	Delaware
	CIT Insurance Company Limited	Missouri
	 	 	 

    	Schedule 1.1D-1

    	 

    

 

	CIT International (Malaysia) Sdn. Bhd.	Kuala Lumpur, Malaysia
	CIT Leasing (Germany) GmbH	Germany
	CIT Malaysia One, Inc.	Labuan, Malaysia
	CIT Rail LLC	Delaware
	CIT SLX Issuer Holdings, Ltd.	Cayman Islands
	CIT SLX Residual Holdings, Ltd.	Cayman Islands
	CIT Small Business Lending Corporation	Delaware
	Education Funding Resources, LLC	Delaware
	Education Lending Services, Inc.	Delaware
	The Equipment Insurance Company 	Vermont
	 	 	 

    	Schedule 1.1D-2

    	 

    

SCHEDULE 2.1

Commitments

	Name of Lender	Tranche 1 

Commitment	Tranche 2 

Commitment	Tranche 1 Applicable Percentage	Tranche 2 Applicable Percentage
	Bank of America, N.A.	$172,500,000.00	$52,500,000.00	15.000000000%	15.000000000%
	Barclays Bank PLC	$172,500,000.00	$52,500,000.00	15.000000000%	15.000000000%
	JPMorgan Chase Bank, N.A.	$172,500,000.00	$52,500,000.00	15.000000000%	15.000000000%
	Credit Suisse AG, Cayman Islands Branch	$172,500,000.00	$52,500,000.00	15.000000000%	15.000000000%
	Morgan Stanley Senior Funding, Inc.	$75,000,000.00	_____	6.521739130%	_____
	Morgan Stanley Bank N.A.	$97,500,000.00	$52,500,000.00	8.478260870%	15.000000000%
	Deutsche Bank AG, New York Branch	$153,333,333.34	$46,666,666.66	13.333333334%	13.333333334%
	Goldman Sachs Bank USA	$95,833,333.33	$29,166,666.67	8.333333333%	8.333333333%
	Credit Agricole Corporate & Investment Bank	$38,333,333.33	$11,666,666.67	3.333333333%	3.333333333%
	Total	$1,150,000,000.00	$350,000,000.00	100.000000000%	100.000000000%

  

    	Schedule 2.1-1

    	 

    

SCHEDULE 4.1

Jurisdictions of Organization and Qualification

 

	Credit Party	Jurisdiction	Type of Entity
	CIT Group Inc.	Delaware	Corporation
	C.I.T. Leasing Corporation	Delaware	Corporation
	CIT Capital USA Inc.	Delaware	Corporation
	CIT Financial USA, Inc.	Delaware	Corporation
	CIT Healthcare LLC	Delaware	Limited liability company
	CIT Lending Services Corporation	Delaware	Corporation
	CIT Technology Financing Services, Inc.	Massachusetts	Corporation
	The CIT Group/Business Credit, Inc.	New York	Corporation
	The CIT Group/Equipment Financing, Inc.	Delaware	Corporation

    	Schedule 4.1-1

    	 

    

SCHEDULE 4.2

Capital Stock and Ownership

 

	Name of Subsidiary of CIT Group Inc.	Type of Entity	Percentage  Ownership by Direct Parent	Name of Direct Parent
	C.I.T. Leasing Corporation	CORP	100%	The CIT Group/ Commercial Services, Inc.
	CIT Capital USA Inc.	CORP	100%	CIT Credit Group USA Inc.
	CIT Financial USA, Inc.	CORP	100%	Capita Corporation
	CIT Healthcare LLC	LLC	100%	The CIT Group/Equipment Financing, Inc.
	CIT Lending Services Corporation	CORP	100%	Capita Corporation
	CIT Technology Financing Services, Inc.	CORP	100%	CIT Lending Services Corporation
	The CIT Group/Business Credit, Inc.	CORP	100%	The CIT Group/Equipment Financing, Inc.
	The CIT Group/Equipment Financing, Inc.	CORP	100%	CIT Group Inc.

 

    	Schedule 4.2-1

    	 

    

SCHEDULE 5.10

 

Unrestricted Subsidiaries

 

	Unrestricted Subsidiary	Jurisdiction of Organization
	1143986 Ontario Limited	Ontario, Canada
	1244771 Ontario Limited	Ontario, Canada
	3918041 Canada Inc.	Federally Chartered, Canada
	505 CLO I Blocker Inc.	Delaware
	505 CLO I Ltd.	Cayman Islands
	505 CLO II Blocker Inc.	Delaware
	505 CLO II Ltd.	Cayman Islands
	505 CLO III Blocker Inc.	Delaware
	505 CLO III Ltd.	Cayman Islands
	505 CLO IV Ltd.	Cayman Islands
	544211 Alberta Ltd.	Alberta, Canada
	555565 Alberta Ltd.	Alberta, Canada
	555566 Alberta Ltd.	Alberta, Canada
	991122 Alberta Ltd.	Alberta, Canada
	Adams Capital Limited	Barbados
	Aireal Technologies of Harrisburg, LLC	Delaware
	ATMOR Properties Inc.	Delaware
	Baliardo Limited	Ireland
	Banco Commercial Investment Trust do Brasil S.A. - Banco Múltiplo	Brazil
	Capita Preferred Trust	Delaware
	Capital Partners Fund I	Ontario, Canada
	CCG Partners I Limited Partnership	Ontario, Canada
	CCG Trust Corporation	Barbados
	Centennial Aviation (Bermuda) 1, Ltd.	Bermuda
	Centennial Aviation (France) 1, SARL	France
	Centennial Aviation (France) 2, SARL	France
	Centennial Aviation (Ireland) 1, Limited	Ireland
	Centennial Aviation (Ireland) 6, Limited	Ireland
	Centennial Aviation (Ireland) 7, Limited	Ireland
	CFHE Funding Company LLC	Delaware
	Chessman S.a.r.l.	Luxembourg
	CIT (France) SA	France
	CIT (France) SAS	France
	CIT Aerospace Asia Pte Ltd.	Singapore
	CIT Aerospace International (Aruba) A.V.V.	Aruba
	CIT Aerospace International (Australia) Pty Ltd.	Victoria, Australia
	CIT Aerospace International (France) Sarl	France
	CIT Aerospace Sweden AB	Sweden
	CIT Asset Management LLC	Delaware
	CIT Aviation Finance I (France) Sarl	France
	CIT Aviation Finance I (Ireland) Limited	Ireland

    	Schedule 5.10-1

    	 

    

 

	CIT Aviation Finance I (UK) Limited	England - United Kingdom
	CIT Aviation Finance I Ltd.	Bermuda
	CIT Aviation Finance II (France) Sarl	France
	CIT Aviation Finance II (Ireland) Limited	Ireland
	CIT Aviation Finance II (UK) Limited	England - United Kingdom
	CIT Aviation Finance II Ltd.	Bermuda
	CIT Aviation Note Purchasing Ltd.	Bermuda
	CIT Bank	Utah
	CIT Bank Limited	England - United Kingdom
	CIT Canada Equipment Receivables Trust	Federally Chartered, Canada
	CIT Canada Equipment Receivables Trust II	Federally Chartered, Canada
	CIT Canada Equipment Receivables ULC	Alberta, Canada
	CIT Canada Finance L.P.	Alberta, Canada
	CIT Canada Finance ULC	Alberta, Canada
	CIT Canadian Funding Trust	Ontario, Canada
	CIT Canadian VFN Trust	Ontario, Canada
	CIT Capital Aviation (UK) Limited	England - United Kingdom
	CIT Capital Securities LLC	Delaware
	CIT Capital Trust I	Delaware
	CIT Cayman Blue Lagoon Leasing, Ltd.	Cayman Islands
	CIT Cayman Coconut Palm Leasing, Ltd.	Cayman Islands
	CIT CBK Funding Company, LLC	Delaware
	CIT CLO 2012-1 Ltd.	Cayman Islands
	CIT CLO 2013-1 Limited 	Isle of Jersey, U.K.
	CIT CLO Holding Corporation	Delaware
	CIT CLO Holdings II, Ltd.	Cayman Islands
	CIT CLO Holdings, Ltd.	Cayman Islands
	CIT CLO I Blocker Inc.	Delaware
	CIT CLO I LLC	Delaware
	CIT CLO I Ltd.	Cayman Islands
	CIT Commercial Services (Europe) GmbH	Frankfurt am Main, Germany
	CIT Commercial Services-Pan Pacific, Ltd.	Delaware
	CIT Education Loan Residual Holdings, Ltd.	Cayman Islands
	CIT Education Loan Trust 2005-1	Delaware
	CIT Education Loan Trust 2007-1	Delaware
	CIT Education Loan Trust 2009-1	Delaware
	CIT Education Loan Trust 2011-1	Delaware
	CIT Education Loan Trust 2012-1	Delaware
	CIT Education Loan Trust Holdings, Ltd.	Cayman Islands
	CIT Equipment Collateral 2009-VT1	Delaware
	CIT Equipment Collateral 2010-VT1	Delaware
	CIT Equipment Collateral 2012-VT1	Delaware
	CIT Equipment Collateral 2013-VT1	Delaware
	CIT Equipment Finance (UK) Limited	U.K.
	CIT Equipment Trust – VFC Series CBK1	Delaware
	CIT Equipment Trust - VFC Series IV	Delaware
	CIT Finance & Leasing (Tianjin) Corporation	Tianjin, Peoples Republic of China
	CIT Finance & Leasing Corporation	Shanghai, Peoples Republic of China

    	Schedule 5.10-2

    	 

    

 

	CIT Finance LLC	Delaware
	CIT Finance No.1 (Ireland) Limited	Ireland
	CIT Financial (Hong Kong) Limited	Hong Kong
	CIT Financial (Korea) Limited	Korea, Seoul
	CIT Financial de Puerto Rico, Inc.	Puerto Rico
	CIT Financial II (Barbados) Srl	Barbados
	CIT FSC Eighteen, Ltd.	Bermuda
	CIT FSC Nineteen, Ltd.	Bermuda
	CIT Funding Company IV, LLC	Delaware
	CIT Funding Company, LLC	Delaware
	CIT Group (Belgium) NV	Belgium
	CIT Group (Hungary) Financial Servicing Limited Liability Company	Hungary
	CIT Group (Nederland) B.V.	Netherlands
	CIT Group (NFL) Limited	England - United Kingdom
	CIT Group (Nordic) AB	Sweden
	CIT Group (Switzerland) AG	Switzerland
	CIT Group Italy Srl	Italy
	CIT Group Securities (Canada) Inc.	Ontario, Canada
	CIT Home Lending Securitization Company, LLC	Delaware
	CIT Insurance Agency, Inc.	Delaware
	CIT Insurance Company Limited	Missouri
	CIT International (Malaysia) Sdn. Bhd.	Kuala Lumpur, Malaysia
	CIT Lease Limited, in liquidation	England - United Kingdom
	CIT Leasing (Germany) GmbH	Germany
	CIT Luxembourg Cobblestone Leasing, SARL	Luxembourg
	CIT Malaysia One, Inc.	Malaysia
	CIT Mezzanine Partners of Canada Limited	Federally Chartered, Canada
	CIT Middle Market Loan Partnership Trust I	Delaware
	CIT Middle Market Loan Partnership Trust II	Delaware
	CIT Middle Market Loan Partnership Trust III	Delaware
	CIT Middle Market Loan Trust I	Delaware
	CIT Middle Market Loan Trust II	Delaware
	CIT Middle Market Loan Trust III	Delaware
	CIT Millbury Inc.	Delaware
	CIT Rail LLC	Delaware
	CIT Railcar Funding Company, LLC	Delaware
	CIT SBL 2008-1, Ltd.	Cayman Islands
	CIT SBL Holdings, Ltd.	Cayman Islands
	CIT SBL Property Holdings Corporation	Delaware
	CIT SLX Issuer Holdings, Ltd.	Cayman Islands
	CIT SLX Residual Holdings, Ltd.	Cayman Islands
	CIT Small Business Lending Corporation	Delaware
	CIT Small Business Loan Trust 2007-1	Delaware
	CIT Small Business Loan Trust 2008-1	Delaware
	CIT Technology Finance (Germany) GmbH	Germany
	CIT Trade Finance Funding Company, LLC	Delaware
	CIT TRS Funding B.V.	Netherlands

    	Schedule 5.10-3

    	 

    

 

	CIT TRS Holdings B.V.	Netherlands
	CIT TRS Subsidiary B.V.	Netherlands
	CIT Vendor Finance I Limited	Isle of Jersey, U.K.
	Education Funding Capital I, LLC	Delaware
	Education Funding Capital Trust-IV	Delaware
	Education Funding Resources, LLC	Delaware
	Education Lending Services, Inc.	Delaware
	Equipment Protection Services (Europe) Limited	Ireland
	FH Transaction Corp.	Delaware
	Flex Holdings, LLC	Delaware
	Flex Leasing Corporation	Delaware
	Flex Leasing I, LLC	Delaware
	Flugzeug Limited	Ireland
	Grey Capital Limited	Barbados
	Imaginarium LLC	Delaware
	Ittleson-Beaumont Fund	New York
	Jessica Leasing Limited	Ireland
	Madeleine Leasing Limited	Ireland
	Memphis Peaking Power LLC	Delaware
	Millennium Leasing Company I LLC	Delaware
	Millennium Leasing Company II LLC	Delaware
	Montana OL1 LLC	Delaware
	Montana OP1 LLC	Delaware
	Montana OPCM1A LLC	Delaware
	Montana OPCM1B LLC	Delaware
	Newcourt Financial CIS, LLC	Moscow, Russia
	Newcourt Financial Polska Sp. zo o	Poland
	North Romeo Storage Corporation	Delaware
	Rita Leasing Limited	Ireland
	Student Loan Xpress Foundation	Ohio
	The Albert and Bertha Gamper Scholarship Foundation, Inc.	New Jersey
	The CIT GP Corporation II	Delaware
	The CIT GP Corporation III	Delaware
	The CIT Group Foundation, Inc.	New York
	The CIT Group Securitization Corporation II	Delaware
	The CIT Group Securitization Corporation III	Delaware
	The Equipment Insurance Company	Vermont
	Waste to Energy II LLC	Delaware
	Xerox Leasing de Mexico S. de R.L. de C.V.	Mexico
	Each Owner Trust other than:	 
	Aircraft MSN 658 Trust	Canada/Utah
	Aircraft MSN 762 Trust	United States/Utah
	Aircraft MSN 1625 Trust	United State/Utah
	Aircraft MSN 2066 Trust	United States/Utah
	Aircraft MSN 2662 Trust	United States/Utah
	Aircraft MSN 4592 Trust	United States/Utah
	Aircraft MSN 23614 Trust	United States/Utah

    	Schedule 5.10-4

    	 

    

 

	Aircraft MSN 24522 Trust	United States/Utah
	Aircraft MSN 24995 Trust	United States/Delaware
	Aircraft MSN 26839 Trust	Ireland/Utah

 

    	Schedule 5.10-5

    

    	 

    	 

    

EXHIBIT A-1 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

FUNDING NOTICE

Reference is made to the Amended and Restated
Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise modified,
the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein
as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”), certain
subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A.,
as Administrative Agent and L/C Issuer.

Pursuant to Section 2.1 of the Credit Agreement,
Borrower hereby gives you notice that Borrower desires that Lenders (including Persons becoming Lenders on the Credit Date) holding
Commitments that are accepted by the Administrative Agent make the following Loans in respect of such Commitments to Borrower in
the amounts and under the Tranche set forth and at the rates set forth on Schedule 1 hereto, in accordance with the applicable
terms and conditions of the Credit Agreement on [mm/dd/yy], (the “Credit Date”):

Borrower hereby certifies to the Administrative
Agent, the Arrangers, the Other Agents and the Lenders that:

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

(ii)       as of the Credit Date, no event has occurred
and is continuing or would result from the consummation of the applicable Credit Extension or the use of proceeds thereof that
would constitute an Event of Default or a Default; and

(iii)       the proceeds of the Loans requested hereunder
shall be used on the Credit Date in accordance with Sections 2.3 and 5.12 of the Credit Agreement.

    	 

    	 

    

 

[Borrower acknowledges that (a) in order
to accommodate the foregoing request, Lenders are making funding arrangements for value on such anticipated Credit Date and (b)
there can be no assurance that the Credit Date will occur on such anticipated date. Accordingly, Borrower hereby agrees to reimburse
each of the Lenders and the Administrative Agent on demand for such costs, losses and expenses pursuant to Section 2.15 of the
Original Credit Agreement.]1

	Date:  [           ]	CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:

 

		1	Applicable for the initial Credit Date only.

    	A-1-2

    	 

    

 

Schedule 1 to Funding Notice

	Total Amount	Type of Borrowing	Base Rate Loans	LIBOR
    Rate Loans2
	  $[___,___,___]	
        [Tranche 1 Loan]

        [Tranche 2 Loan]
	  $[___,___,___]	$[___,___,___] with an initial Interest Period of [_]

 

		2	If more than one Interest Period, please indicate respective
amounts for each period.

    	A-1-3

    	 

    

EXHIBIT A-2 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CONVERSION/CONTINUATION NOTICE

Reference is made to the Amended and Restated
Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise modified,
the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein
as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”), certain subsidiaries
of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A., as Administrative
Agent and L/C Issuer.

Pursuant to Section 2.6 of the Credit Agreement,
Borrower desires to convert or to continue the Loans, each such conversion and/or continuation to be effective as of [mm/dd/yy]:

	Tranche 1 Loans	 
	$[___,___,___]	LIBOR Rate Loans to be continued with Interest
    Period of [1] [2] [3] [6] [12]3 month(s)
	$[___,___,___]	Base Rate Loans to be converted to LIBOR Rate Loans with Interest Period of [1] [2] [3] [6] [12] month(s)
	$[___,___,___]	LIBOR Rate Loans to be converted to Base Rate Loans
	Tranche 2 Loans	 
	$[___,___,___]	LIBOR Rate Loans to be continued with Interest Period of [1] [2] [3] [6] [12] month(s)
	$[___,___,___]	Base Rate Loans to be converted to LIBOR Rate Loans with Interest Period of [1] [2] [3] [6] [12] month(s)
	$[___,___,___]	LIBOR Rate Loans to be converted to Base Rate Loans

 

		3	12 month Interest Period available with each Lender’s
consent.

    	A-2-1

    	 

    

 

[Borrower hereby certifies that as of
the date hereof, no event has occurred and is continuing or would result from the consummation of the conversion and/or continuation
contemplated hereby that would constitute an Event of Default or a Default.]4

	Date:  [           ]	CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:

 

		4	Insert language if Conversion/Continuation Notice requests
that any Loan be converted to or continued as a LIBOR Rate Loan.

    	A-2-2

    	 

    

EXHIBIT B TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

REVOLVING LOAN NOTE

$[___,___,___]

	[DATE]	New York, New York

FOR VALUE RECEIVED, CIT GROUP
INC., a Delaware corporation (“Borrower”), promises to pay [______] (“Payee”)
or its registered assigns the principal amount of all [Tranche 1/Tranche 2] Loans made by Payee to Borrower pursuant to the Credit
Agreement referred to below, on or before the Final Maturity Date.

Borrower also promises to pay interest
on the unpaid principal amount of all [Tranche 1/Tranche 2] Loans made by Payee, from the date such [Tranche 1/Tranche 2] Loans
are made until paid in full, at the rates and at the times which shall be determined in accordance with the provisions of that
certain Amended and Restated Revolving Credit and Guaranty Agreement, dated as of January [ ], 2014 (as it may be amended, supplemented
or otherwise modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein
being used herein as therein defined), by and among Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party
thereto from time to time and Bank of America, N.A., as Administrative Agent and L/C Issuer.

This Note is one of the “Notes”
issued pursuant to and entitled to the benefits of the Credit Agreement, to which reference is hereby made for a more complete
statement of the terms and conditions under which the [Tranche l/Tranche 2] Loans evidenced hereby were made and are to be repaid.

All payments of principal and interest
in respect of this Note shall be made in Dollars in same day funds to the Principal Office designated by Administrative Agent pursuant
to Section 2.12(a) of the Credit Agreement. Unless and until an Assignment Agreement effecting the assignment or transfer of the
obligations evidenced hereby in accordance with the provisions of the Credit Agreement shall have been accepted by Administrative
Agent and recorded in the Register, Borrower, each Agent and Lenders shall be entitled to deem and treat Payee as the owner and
holder of this Note and the obligations evidenced hereby. Payee hereby agrees, by its acceptance hereof, that before disposing
of this Note or any part hereof it will make a notation hereon of all principal payments previously made hereunder and of the date
to which interest hereon has been paid; provided, that the failure to make a notation of any payment made on this Note shall
not limit or otherwise affect the obligations of Borrower hereunder with respect to payments of principal of or interest on this
Note.

THIS NOTE AND THE RIGHTS AND OBLIGATIONS
OF BORROWER AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

Upon the occurrence of an Event of Default,
the unpaid balance of the principal amount of this Note, together with all accrued and unpaid interest thereon, may become, or
may be declared to be, due and payable in the manner, upon the conditions and with the effect provided in the Credit Agreement.

The terms of this Note are subject to amendment
only in the manner provided in the Credit Agreement.

    	B-1

    	 

    

No reference herein to the Credit Agreement
and no provision of this Note or the Credit Agreement shall alter or impair the obligations of Borrower, which is absolute and
unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency herein
prescribed.

Borrower promises to pay all actual out-of-pocket
costs and expenses, including attorneys’ fees, all as provided in and to the extent required by the Credit Agreement, incurred
in the collection and enforcement of this Note. Borrower and any endorsers of this Note hereby consent to renewals and extensions
of time at or after the maturity hereof, without notice, and hereby waive diligence, presentment, protest, demand notice of every
kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder.

[Remainder of page intentionally left blank]

    	B-2

    	 

    

 

IN WITNESS WHEREOF, Borrower
has caused this Note to be duly executed and delivered by its officers thereunto duly authorized as of the date and at the place
first written above.

	  	CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	B-3

    	 

    

EXHIBIT C TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

COMPLIANCE CERTIFICATE

		To:	Bank of America, N.A., as Administrative
Agent and L/C Issuer and the Lenders party to the Credit Agreement referred to below.

THE UNDERSIGNED HEREBY CERTIFIES AS
FOLLOWS:

1.I am the ________ of CIT GROUP
INC., a Delaware corporation (“Borrower”).

2.I have reviewed the terms of that
certain Amended and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented
or otherwise modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being
used herein as therein defined), by and among Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto
from time to time and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer, and I have made, or have caused
to be made under my supervision, a review in reasonable detail of the transactions and condition of Borrower and its subsidiaries
during the accounting period covered by the attached financial statements.

3.The examination described in paragraph
2 above did not disclose, and I have no knowledge, that any condition or event which constitutes an Event of Default or Default
has occurred and is continuing as of the date of this Compliance Certificate, except as set forth in a separate attachment, if
any, to this Compliance Certificate, describing in detail, the nature of the condition or event, the period during which it has
existed and the action which the applicable Credit Party has taken, is taking, or proposes to take with respect to each such condition
or event.

4.In support of the statements above
with respect to Section 6.3(a) of the Credit Agreement, attached hereto as Annex A is a calculation of the Consolidated
Net Worth described in such section as of the last day of the Fiscal Quarter ended ______________.

5.In accordance with Section 5.1[(a)/(b)]
of the Credit Agreement, attached hereto as Annex B are the financial statements for the [Fiscal Quarter/Fiscal Year]
ended ________, ____ required to be delivered pursuant to Section 5.1[(a)/(b)] of the Credit Agreement[, together with
any report or statement from Borrower’s accountants with respect to such consolidated financial statements required to be
delivered pursuant to Section 5.1(b) of the Credit Agreement]5. Such financial statements fairly present, in
all material respects, the financial condition of Borrower and its Subsidiaries as at the dates indicated therein and the results
of their operations and their cash flows for the periods indicated therein in conformity with GAAP (subject, in the case of interim
financial statements, to the absence of footnote disclosure and to changes resulting from audit and normal year-end adjustments).

		5	Insert language only for annual certifications.

    	C-1

    	 

    

 

The foregoing certifications, together
with the computations set forth in Annex A hereto, and the financial statements set forth in Annex B, are made and
delivered on [mm/dd/yy] pursuant to Section 5.1(c) of the Credit Agreement.

	 	CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title6:

 

		6	Must be an Authorized Officer.

    	C-2

    	 

    

ANNEX A TO

COMPLIANCE CERTIFICATE

FOR THE FISCAL QUARTER ENDING [mm/dd/yy]
(the “Calculation Date”)

Consolidated Net Worth:

	Total
    shareholder’s equity of Borrower and its Subsidiaries as of the Calculation Date7 on a consolidated basis
    determined in accordance with GAAP	

$[___,___,___]
	Required:	$6,000,000,000

 

		7	Commencing with the Fiscal Quarter ending December 31, 2013.

    	Annex A-1

    	 

    

ANNEX B TO

COMPLIANCE CERTIFICATE

FINANCIAL STATEMENTS

    	Annex B-1

    	 

    

EXHIBIT D TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

ASSIGNMENT AND ASSUMPTION AGREEMENT

Assignment and Assumption Agreement (this
“Assignment”), dated as of the Effective Date below, by and between each Assignor identified as such
on the signature page hereof (each, an “Assignor”) and each assignee identified as such on the
signature page hereof (each, an “Assignee”). Capitalized terms used but not defined herein shall
have the meanings given to them in the Credit Agreement identified below (as it may be amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the
Assignee. The Terms and Conditions set forth in Annex 1 attached hereto (the “Terms and Conditions”)
are hereby agreed to and incorporated herein by reference and made a part of this Assignment as if set forth herein in full.

For an agreed consideration, each Assignor
hereby irrevocably sells and assigns to each respective Assignee, and each Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Terms and Conditions and the Credit Agreement, effective as of the Effective
Date inserted by the Administrative Agent as contemplated below, (i) all of the respective Assignors’ rights and obligations
in their respective capacities as Lenders under the Credit Agreement and any other documents or instruments delivered pursuant
thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations
of the respective Assignors under the respective facilities identified below and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of the respective Assignors (in their respective capacities
as Lenders) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents
or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of
the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other
claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and
obligations sold and assigned by any Assignor to each such Assignee pursuant to clauses (i) and (ii) above being referred to herein
collectively as the “Assigned Interest”). Each such sale and assignment is without recourse
to any Assignor and, except as expressly provided in this Assignment, without representation or warranty by any Assignor.

	1.	Assignor(s):	The entities listed as such on the signature pages hereof, as

Assignors
	2.	Assignee(s):	
        The entities listed as such on the signature pages
        hereof, as

        Assignees8

	3.	Borrower:	CIT GROUP INC., a Delaware corporation (‘Borrower”)
	4.	Administrative Agent:	BANK OF AMERICA, N.A.
	5.	Credit Agreement:	Amended and Restated Revolving Credit and Guaranty Agreement dated as of January [  ], 2014 among Borrower, certain subsidiaries of Borrower, as guarantors, the Lenders party thereto from time to time and Bank of America, N.A., as Administrative Agent and L/C Issuer, as amended.

 

		8	For each Assignee, please indicate [Affiliate][Related Fund]
of [identify Lender].

    	D-1

    	 

    

 

	Facility Assigned	Aggregate Principal Amount of

Commitments/Loans

for all Lenders under

the Tranche being

Assigned	Principal Amount of Commitments/Loans Assigned	Percentage
    Assigned of Commitments/Loans9 under the Tranche

    being Assigned	CUSIP Number
	[Tranche 1 Facility] [Tranche 2 Facility]	$	$	%	 
	 	 	 	 	 
	 	 	 	 	 

 

	7.	Effective Date:	[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]
	8.	Notice and Wire Instructions:	 

 

	[NAME OF ASSIGNOR(S)]	[NAME OF ASSIGNEE(S)]
	Notices:	Notices:
	
        ____________________

        ____________________

        ____________________

        Attention:

        Telecopier:

        [E-mail:]
	
        ____________________

        ____________________

        ____________________

        Attention:

        Telecopier:

        [E-mail:]

	with a copy to:	with a copy to:
	
        ____________________

        ____________________

        ____________________

         

        Attention:

        Telecopier:
	
        ____________________

        ____________________

        ____________________

         

        Attention:

        Telecopier:

	Wire Instructions:	 
	[9.  Trade
    Date:10	 

 

		9	Set forth, to at least 9 decimals, as a percentage of the
Commitments/Loans of all Lenders thereunder.

		10	To be completed if the Assignor and the Assignee intend that
the minimum assignment amount is to be determined as of the Trade Date.

 

[Signature page follows]

    	D-2

    	 

    

 

The terms set forth in this Assignment
are hereby agreed to:

	 	 	ASSIGNOR(S)
	 	 	[NAME OF ASSIGNOR]
	 	 	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 
	 	 	 	 
	 	 	ASSIGNEE(S)
	 	 	[NAME OF ASSIGNEE]
	 	 	 	 
	 	 	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:

 

ACKNOWLEDGED:11

 

BANK OF AMERICA, N.A.,

as Administrative Agent

  

	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	BANK OF AMERICA, N.A.,

as L/C Issuer	 
	 	 	 
	 	 	 
	By:  	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	CIT GROUP INC., 

as Borrower	 
	 	 	 
	 	 	 
	By: 	 	 
	 	Name:	 
	 	Title:	 
	 	 	 

		11	To be completed to the extent consents are required under
Section 10.6(c) of the Credit Agreement.

    	D-3

    	 

    

ANNEX I TO

ASSIGNMENT AND ASSUMPTION AGREEMENT

TERMS AND CONDITIONS FOR ASSIGNMENT

AND ASSUMPTION AGREEMENT

		1.	Representations and Warranties.

		1.1	Assignor. Each Assignor represents and warrants
that (i) it is the legal and beneficial owner of the relevant Assigned Interest, (ii) such Assigned Interest is free and clear
of any lien, encumbrance or other adverse claim, and (iii) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and to consummate the transactions contemplated hereby.

		1.2	Assignee. Each Assignee (a) represents and warrants
that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate
the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible
Assignee under the Credit Agreement, (iii) it is sophisticated with respect to decisions to acquire assets of the type represented
by the relevant Assigned Interest, is able to bear the economic risk associated with the purchase and assumption of such Assigned
Interest and has the financial wherewithal to perform its obligations under such Assigned Interest, (iv) from and after the Effective
Date, it shall be bound by the provisions of the Credit Agreement and, to the extent of such Assigned Interest, shall have the
obligations of a Lender thereunder, (v) it has received a copy of the Credit Agreement, and has received or has been accorded
the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.1 thereof, as applicable,
and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this
Assignment and to purchase such Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent
or any other Lender and based on such other documents and information as it has deemed appropriate to make its own credit analysis
and decision to enter into this Assignment and to purchase such Assigned Interest on the basis of which it has made such analysis
and decision, (vii) if it is a Non-U.S. Lender, attached to the Assignment is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by such Assignee, (viii) it shall make or invest in,
as the case may be, its Commitments or Loans for its own account in the ordinary course and without a view to distribution of
such Commitments or Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being
understood that, subject to the provisions of Section 10.6 of the Credit Agreement, the disposition of such Commitments or Loans
or any interests therein shall at all times remain within its exclusive control) and (ix) it is not a Disqualified Person; (b)
agrees that (i) it will, independently and without reliance on the Administrative Agent, any Assignor or any other Lender, and
based on such documents and information as it shall deem appropriate at that time, continue to make its own credit decisions in
taking or not taking action under the Credit Documents (as defined below), and (ii) it will perform in accordance with their terms
all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Lender; and (c) acknowledges
that no Assignor assumes responsibility with respect to (i) any statements, warranties or representations made in or in connection
with any Credit Document (as defined below), (ii) the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Credit

    	Annex D-1-1

    	 

    

Agreement
or any other instrument or document delivered pursuant thereto, other than this Assignment (herein collectively the “Credit
Documents”), (iii) the financial condition of the Borrower, any of its subsidiaries or Affiliates or any other Person
obligated in respect of any Credit Document or (iv) the performance or observance by the Borrower, any of its subsidiaries or
Affiliates or any other Person of any of their respective obligations under any Credit Document.

		2.	Payments. From and after the Effective Date, the Administrative
Agent shall make all payments in respect of each Assigned Interest (including payments of principal, interest, fees and other
amounts) to the relevant Assignor for amounts which have accrued to but excluding the Effective Date and to the relevant Assignee
for amounts which have accrued from and after the Effective Date.

		3.	General Provisions. The Administrative Agent shall
be under no obligation to determine whether the Assignee is an Eligible Assignee or a Disqualified Person and shall have no responsibility
for monitoring or enforcing the requirement that only Eligible Assignees shall be Lenders. This Assignment shall be binding upon,
and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment may be executed in
any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature
page of this Assignment by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment. This
Assignment shall be governed by, and construed in accordance with, the laws of the State of New York.

[Remainder of page intentionally left blank]

  

    	Annex D-1-2

    	 

    

EXHIBIT E-1 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CERTIFICATE REGARDING NON-BANK STATUS

(For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

Reference is hereby made to the Amended
and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise
modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”), certain
subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A.,
as Administrative Agent and L/C Issuer.

Pursuant to the provisions of Section 2.16(e)
of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as
well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a “bank”
as such term is used in Section 881(c)(3)(A) of the Internal Revenue Code, (iii) it is not a ten percent shareholder of Borrower
within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, (iv) it is not a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Internal Revenue Code, and (v) no payments in connection with the Credit Documents are
effectively connected with the undersigned’s conduct of a U.S. trade or business.

The undersigned has furnished the Administrative
Agent and Borrower with a certificate of its Non-U.S. person status on Internal Revenue Service Form W-8BEN. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly
so inform Borrower and the Administrative Agent in writing and (2) the undersigned shall furnish Borrower and the Administrative
Agent a properly completed and currently effective certificate in either the calendar year in which payment is to be made by Borrower
or the Administrative Agent to the undersigned, or in either of the two calendar years preceding such payment.

		[NAME OF LENDER]
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 

    	E-1-1

    	 

    

EXHIBIT E-2 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CERTIFICATE REGARDING NON-BANK STATUS

(For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

Reference is hereby made to the Amended
and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise
modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”),
certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A.,
as Administrative Agent and L/C Issuer.

Pursuant to the provisions of Section 2.16(e)
of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s)
evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct partners/members, or in the case
of direct partners/members that are partnerships or disregarded entities for U.S. federal income tax purposes, its applicable indirect
partners/members (such direct partners/members and/or applicable indirect partners/members, the “applicable partners/members”)
are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) neither the undersigned
nor any of its applicable partners/members is a bank (or any partners/members through which the applicable partners/members own
indirect interest in the undersigned) within the meaning of Section 881(c)(3)(A) of Internal Revenue Code, (iv) none of its applicable
partners/members is a ten percent shareholder of Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code,
(v) none of its applicable partners/members is a “controlled foreign corporation” described in Section 881(c)(3)(C)
of the Internal Revenue Code, and (vi) no payments in connection with the Credit Documents are effectively connected with the undersigned’s
or its applicable partners/members’ deemed conduct of a U.S. trade or business.

The undersigned has furnished the Administrative
Agent and Borrower with Internal Revenue Service Form W-8IMY accompanied by an Internal Revenue Service Form W-8BEN from each of
its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall promptly so inform Borrower and the Administrative
Agent and (2) the undersigned shall have at all times furnished Borrower and the Administrative Agent in writing with a properly
completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned,
or in either of the two calendar years preceding such payments.

		[NAME OF LENDER]
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 

    	E-2-1

    	 

    

EXHIBIT E-3 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CERTIFICATE REGARDING NON-BANK STATUS

(For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

Reference is hereby made to the Amended
and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise
modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”), certain
subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A.,
as Administrative Agent and L/C Issuer.

Pursuant to the provisions of Section 2.16(e)
of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation
in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Internal
Revenue Code, (iii) it is not a ten percent shareholder of Borrower within the meaning of Section 881(c)(3)(B) of the Internal
Revenue Code, (iv) it is not a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue
Code, and (v) no payments in connection with the Credit Documents are effectively connected with the undersigned’s conduct
of a U.S. trade or business.

The undersigned has furnished its participating
Non-U.S. Lender with a certificate of its Non-U.S. person status on Internal Revenue Service Form W-SBEN. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
such Non-U.S. Lender in writing and (2) the undersigned shall have at all times furnished such Non-U.S. Lender with a properly
completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned,
or in either of the two calendar years preceding such payments.

		[NAME OF PARTICIPANT]
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 

    	E-3-1

    	 

    

EXHIBIT E-4 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CERTIFICATE REGARDING NON-BANK STATUS

(For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

Reference is hereby made to the Amended
and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise
modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), by the among CIT GROUP INC., a Delaware corporation (“Borrower”), certain subsidiaries
of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A., as Administrative
Agent and L/C Issuer.

Pursuant to the provisions of Section 2.16(e)
of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect
of which it is providing this certificate, (ii) its direct partners/members, or in the case of direct partners/members that are
partnerships or disregarded entities for U.S. federal income tax purposes, its applicable indirect partners/members (such direct
partners/members and/or applicable indirect partners/members, the “applicable partners/members”) are the sole beneficial
owners of such participation, (iii) neither the undersigned nor any of its applicable partners/members (or any partners/members
through which the applicable partners/members own indirect interest in the undersigned) is a bank within the meaning of Section
881(c)(3)(A) of Internal Revenue Code, (iv) none of its applicable partners/members is a ten percent shareholder of Borrower within
the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, (v) none of its applicable partners/members is a “controlled
foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue Code, and (vi) no payments in connection with
the Credit Documents are effectively connected with the undersigned’s or its applicable partners/members’ deemed conduct
of a U.S. trade or business.

The undersigned has furnished its participating
Non-U.S. Lender with Internal Revenue Service Form W-81MY accompanied by an Internal Revenue Service Form W-8BEN from each of its
partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Non-U.S. Lender in writing and
(2) the undersigned shall have at all times furnished such Non-U.S. Lender with a properly completed and currently effective certificate
in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments.

		[NAME OF PARTICIPANT]
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 

    	E-4-1

    	 

    

EXHIBIT F-1 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

CLOSING CERTIFICATE

		To:	Bank of America, N.A., as Administrative
Agent and L/C Issuer, the Arrangers, the Other Agents and the Lenders party to the Credit Agreement referred
to below.

THE UNDERSIGNED HEREBY CERTIFIES
AS FOLLOWS:

1.I am the ____________ of CIT GROUP
INC., a Delaware corporation (“Borrower”).

2.Pursuant to Section 3.1(d) of the
Amended and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented
or otherwise modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), by and among Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from
time to time and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer, Borrower has delivered a Funding
Notice requesting that Lenders make a Credit Extension to the Borrower as specified in such Funding Notice on January [ ], 2014
(the “Credit Date”).

3.I have reviewed the terms of Section
3.1 and Section 3.2 of the Credit Agreement and the definitions and provisions contained in such Credit Agreement, and in my opinion
I have made, or have caused to be made under my supervision, such examination or investigation as is reasonably necessary to enable
me to express an informed opinion as to the matters referred to herein.

4.Based upon my review and examination
described in paragraph 3 above, I certify, as representative of the Borrower, that as of the date hereof:

(i)each of the conditions precedent
set forth in Section 3.1 and Section 3.2 of the Credit Agreement was satisfied as of the Credit Date;

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

(iii)as of the Credit Date,
no event has occurred and is continuing or would result from the consummation of the Credit Extension to be made on the Credit
Date or the use of proceeds thereof that would constitute an Event of Default or a Default.

    	F-1-1

    	 

    

 

The foregoing certifications are made and
delivered as of January 27, 2014.

		CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 

    	F-1-2

    	 

    

EXHIBIT F-2 TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

SOLVENCY CERTIFICATE

		To:	Bank of America, N.A., as Administrative
Agent and L/C Issuer, the Arrangers, the Other Agents and the Lenders party to the Credit Agreement referred to
below.

THE UNDERSIGNED HEREBY CERTIFIES
AS FOLLOWS:

1.I am the chief financial officer
of CIT GROUP INC., a Delaware corporation (the “Borrower”).

2.Pursuant to the Amended and Restated
Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented or otherwise modified,
the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein
defined), by and among Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and
BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer, CIT Group Inc. has delivered a Funding
Notice requesting that Lenders make a Credit Extension to the Borrower specified in such Funding Notice on January [ ], 2014 (the
“Credit Date”).

3. I have reviewed the terms of the Credit
Agreement and the definitions and provisions contained in the Credit Agreement relating thereto, and, in my opinion, have made,
or have caused to be made under my supervision, such examination or investigation as is reasonably necessary to enable me to express
an informed opinion as to the matters referred to herein.

4.Based upon my review and examination
described in paragraph 3 above, I certify that as of the date hereof, after giving effect to the Credit Extensions to be made on
the Credit Date, the Borrower is Solvent.

[Remainder of page intentionally left
blank]

    	F-2-1

    	 

    

 

The foregoing certifications are made and
delivered as of January 27, 2014.

		CIT GROUP INC.
	 	By:	 
	 	 	Name:	Scott T. Parker
	 	 	Title:	Chief Financial Officer
	 	 	 	 

    	F-2-2

    	 

    

EXHIBIT G TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

GUARANTOR COUNTERPART AGREEMENT

This GUARANTOR COUNTERPART AGREEMENT,
dated [mm/dd/yy] (this “Guarantor Counterpart Agreement”), is delivered pursuant to that certain
Amended and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended, supplemented
or otherwise modified, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being
used herein as therein defined), by and among CIT GROUP INC., a Delaware corporation (“Borrower”),
certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and BANK OF AMERICA, N.A.,
as Administrative Agent and L/C Issuer.

Section 1. Pursuant to Section 5.9
of the Credit Agreement, the undersigned hereby:

(a)agrees that this Guarantor
Counterpart Agreement may be attached to the Credit Agreement and that by the execution and delivery hereof, the undersigned becomes
a Guarantor under the Credit Agreement and agrees to be bound by all of the terms thereof;

(b)represents and warrants
that each of the representations and warranties set forth in the Credit Agreement and each other Credit Document and applicable
to the undersigned is true and correct with respect to the undersigned in all material respects (except such representations and
warranties that by their terms are qualified by materiality or a Material Adverse Effect, which representations and warranties
shall be true and correct in all respects) after giving effect to this Guarantor Counterpart Agreement, except to the extent that
any such representation and warranty relates solely to any earlier date, in which case such representation and warranty is true
and correct in all material respects (or true and correct in all respects, as applicable) as of such earlier date; and

(c)agrees to irrevocably and
unconditionally guaranty the due and punctual payment in full of all Obligations when the same shall become due, whether at Stated
Maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for
the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), in accordance with Section
7 of the Credit Agreement.

Section 2. The undersigned agrees
at any time or from time to time upon the request of Administrative Agent, at the undersigned’s expense, to promptly execute,
acknowledge and deliver such further documents and do such other acts and things as Administrative Agent may reasonably request
in order to effect fully the purposes of the Credit Documents, including providing Lenders with any information reasonably requested
pursuant to Section 10.19 of the Credit Agreement. Neither this Guarantor Counterpart Agreement nor any term hereof may be changed,
waived, discharged or terminated, except by an instrument in writing signed by the party (including, if applicable, any party required
to evidence its consent to or acceptance of this Guarantor Counterpart Agreement) against whom enforcement of such change, waiver,
discharge or termination is sought. Any notice or other communication herein required or permitted to be given shall be given pursuant
to Section 10.1 of the Credit Agreement, and all for purposes thereof, the notice address of the undersigned shall be the address
as set forth on the signature page hereof. In case any provision in or obligation under this Guarantor Counterpart Agreement shall
be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions
or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

    	G-1

    	 

    

THIS GUARANTOR COUNTERPART AGREEMENT SHALL
BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

[Remainder of page intentionally left blank]

    	G-2

    	 

    

 

IN WITNESS WHEREOF, the undersigned
has caused this Guarantor Counterpart Agreement to be duly executed and delivered by its duly authorized officer as of the date
above first written.

	 	[NAME OF SUBSIDIARY]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

Address for Notices:

	 	 	 
	 	 	 
	 	 	 
	 	Attention:	 
	 	Telecopier:	 

	 	 	 
	 	 	 
	 	 	 
	 	Attention:	 
	 	Telecopier:	 

ACKNOWLEDGED AND ACCEPTED,

as of the date above first written:

BANK OF AMERICA, N.A.,

as Administrative Agent

	By:	 
	 	Name:
	 	Title:

    	G-3

    	 

    

EXHIBIT H TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

ADMINISTRATIVE QUESTIONNAIRE

[SEE ATTACHED]

    	H-1

    	 

    

ADMINISTRATIVE DETAILS REPLY FORM – (US DOLLAR ONLY)

CONFIDENTIAL

1.    
Borrower or Deal Name CIT
GROUP INC.

E-mail this document with your commitment
letter to: Dora Brown

E-mail address of recipient: dora.a.brown@baml.com

2. Legal Name of Lender of Record
for Signature Page: ___________________________________________

Markit Entity Identifier (MEI) # _________________________

Fund Manager Name (if applicable) ____________________________________________________________

Legal Address from Tax Document of Lender
of Record:

Country __________________________________________________________________________________

Address __________________________________________________________________________________

City ________________________________
State/Province________________ Country _________________

	 	 

3. Domestic Funding Address: 

Street Address                                                            

Suite/ Mail Code ________________________________

City _____________________  State ________________

Postal Code _______________________ Country ____ 

4. Eurodollar Funding Address:

Street Address                                                            

Suite/ Mail Code ________________________________

City _____________________  State ________________

Postal Code _______________________ Country ____ 

5. Credit Contact Information:

Syndicate level information (which may contain material non-public
information about the Borrower and its related parties or their respective securities will be made available to the Credit Contact(s). 
The Credit Contacts identified must be able to receive such information in accordance with his/her institution's compliance procedures
and applicable laws, including Federal and State securities laws.

 

Primary Credit Contact:

	First Name 	 
	Middle Name 	 
	Last Name 	 
	Title 	 
	Street Address 	 
	Suite/Mail Code 	 
	City 	 
	State 	 
	Postal Code 	 
	Country 	 
	Office Telephone # 	 
	Office Facsimile # 	 
	Work E-Mail Address 	 
	IntraLinks/SyndTrak	 
	E-Mail Address 	 

 

Secondary Credit Contact:

	First Name 	 
	Middle Name 	 
	Last Name 	 
	Title 	 
	Street Address 	 
	Suite/Mail Code 	 
	City 	 
	State 	 
	Postal Code 	 
	Country 	 
	Office Telephone # 	 
	Office Facsimile # 	 
	Work E-Mail Address 	 
	IntraLinks/SyndTrak	 
	E-Mail Address 	 

 

 

    	2	REV April 2013	 

    	 

    

ADMINISTRATIVE DETAILS REPLY FORM – (US DOLLAR ONLY)

CONFIDENTIAL

Primary Operations Contact:

First ______ MI ____ Last ________________  

Title __________________________________

Street Address _________________________

Suite/ Mail Code _______________________

City ______________________ State ______

Postal Code ___________ Country _________

Telephone __________ Facsimile _________

E-Mail Address _________________________

IntraLinks/SyndTrak E-Mail 

Address _______________________________

 

Secondary
Operations Contact:

First ______ MI ____ Last ________________  

Title __________________________________

Street Address _________________________

Suite/ Mail Code _______________________

City ______________________ State ______

Postal Code ___________ Country _________

Telephone __________ Facsimile _________

E-Mail Address _________________________

IntraLinks/SyndTrak E-Mail 

Address _______________________________

 

Does Secondary
Operations Contact need copy of notices? ___YES ___ NO 

 

Letter of Credit Contact: 

First ______ MI ____ Last ________________  

Title __________________________________

Street Address _________________________

Suite/ Mail Code _______________________

City ______________________ State ______

Postal Code ___________ Country _________

Telephone __________ Facsimile _________

E-Mail Address _________________________

 

Draft Documentation
Contact or Legal Counsel:

First ______ MI ____ Last ________________  

Title __________________________________

Street Address _________________________

Suite/ Mail Code _______________________

City ______________________ State ______

Postal Code ___________ Country _________

Telephone __________ Facsimile _________

E-Mail Address _________________________

 

6. Lender’s Fed Wire Payment Instructions:

 

Pay to: 

Bank Name ________________________________________________________________________

ABA # ____________________________________________________________________________

City ____________________________________
State _____________________________________ 

Account # _________________________________________________________________________

Account Name _____________________________________________________________________

Attention __________________________________________________________________________

   

7. Lender’s Standby Letter of Credit, Commercial
Letter of Credit, and Bankers’ Acceptance Fed Wire Payment Instructions (if applicable): 

 

Pay to: 

Bank Name ________________________________________________________________________

ABA # ____________________________________________________________________________

City ____________________________________
State _____________________________________ 

Account # _________________________________________________________________________

Account Name _____________________________________________________________________

Attention __________________________________________________________________________

Can the Lender’s Fed Wire Payment
Instructions in Section 6 be used? ___YES ___ NO

 

 

 

 

    	3	REV April 2013	 

    	 

    

ADMINISTRATIVE DETAILS REPLY FORM – (US DOLLAR ONLY)

CONFIDENTIAL

8. Lender’s Organizational Structure and
Tax Status

Please refer to the enclosed withholding tax instructions below
and then complete this section accordingly:

 

Lender Taxpayer Identification Number (TIN):  ___ ___ - ___ ___
___ ___ ___ ___ 

 

Tax Withholding Form Delivered to Bank of America (check
applicable one):

 

____ W-9    ____ W-8BEN    ____ W-8ECI   
____ W-8EXP    ____ W-8IMY

 

Tax Contact:  

First ______ MI ____ Last ________________  

Title __________________________________

Street Address _________________________

Suite/ Mail Code _______________________

City ______________________ State ______

Postal Code ___________ Country _________

Telephone __________ Facsimile _________

E-Mail Address _________________________

 

NON–U.S. LENDER INSTITUTIONS

1. Corporations:

If your institution is incorporated outside of the United States
for U.S. federal income tax purposes, and is the beneficial owner of the interest and other income it receives, you must complete
one of the following three tax forms, as applicable to your institution: a.) Form W-8BEN (Certificate of Foreign Status of Beneficial
Owner), b.) Form W-8ECI (Income Effectively Connected to a U.S. Trade or Business), or c.) Form W-8EXP (Certificate of Foreign
Government or Governmental Agency).

 

A U.S. taxpayer identification number is required for any institution
submitting a Form W-8 ECI. It is also required on Form W-8BEN for certain institutions claiming the benefits of a tax treaty with
the U.S. Please refer to the instructions when completing the form applicable to your institution. In addition, please be advised
that U.S. tax regulations do not permit the acceptance of faxed forms. An original tax form must be submitted.

 

2. Flow-Through Entities

If your institution is organized outside the U.S., and is classified
for U.S. federal income tax purposes as either a Partnership, Trust, Qualified or Non-Qualified Intermediary, or other non-U.S.
flow-through entity, an original Form

W-8IMY (Certificate of Foreign Intermediary, Foreign Flow-Through
Entity, or Certain U.S. branches for United States Tax Withholding) must be completed by the intermediary together with a withholding
statement. Flow-through entities other than Qualified Intermediaries are required to include tax forms for each of the underlying
beneficial owners.

 

Please refer to the instructions when completing this form. In addition,
please be advised that U.S. tax regulations do not permit the acceptance of faxed forms. Original tax form(s) must be submitted.

 

U.S. LENDER INSTITUTIONS:

If your institution is incorporated or organized within the United
States, you must complete and return Form W-9 (Request for Taxpayer Identification Number and Certification). Please be advised
that we require an original form W-9.

 

Pursuant to the language contained in the tax section of the
Credit Agreement, the applicable tax form for your institution must be completed and returned on or prior to the date on which
your institution becomes a lender under this Credit Agreement. Failure to provide the proper tax form when requested will subject
your institution to U.S. tax withholding.

 

 

    	4	REV April 2013	 

    	 

    

ADMINISTRATIVE DETAILS REPLY FORM – (US DOLLAR ONLY)

CONFIDENTIAL

 

9. Bank of America’s Payment Instructions:

 

	Pay to:		Bank of America, N.A.

ABA # _____________

New York, NY

Account #  _____________

Attn:  _____________

Ref:  _____________

 

 

    	5	REV April 2013	 

    	 

    

EXHIBIT I TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

INTERCOMPANY SUBORDINATION AGREEMENT

THIS INTERCOMPANY SUBORDINATION
AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), dated
as of January 27, 2014, made by each of the undersigned (each, a “Party” and, together with any entity that
becomes a party to this Agreement pursuant to Section 8 hereof, the “Parties”) and BANK OF AMERICA, N.A.,
as Administrative Agent (the “Administrative Agent”), for the benefit of the Senior Creditors (as defined below).
Unless otherwise defined in Section 5 hereof, all capitalized terms used herein shall have the meanings ascribed to them in the
Credit Agreement referred to below.

WITNESSETH:

WHEREAS, CIT Group Inc., a Delaware corporation
(the “Borrower”), is party to the Amended and Restated Revolving Credit and Guaranty Agreement to be dated as
of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time and Bank of America,
N.A., as Administrative Agent and L/C Issuer, providing for the making of Loans to, and the issuance of, and participations in,
Letters of Credit for the account of, the Borrower, all as contemplated therein;

WHEREAS, the Credit Agreement permits Guarantors
to exclude Subordinated Intercompany Obligations for the purposes of calculating the Guarantor Asset Coverage Ratio;

WHEREAS, Borrower and the Parties hereto
desire to expressly subordinate certain intercompany Indebtedness owed by Guarantors to Borrower or any of its Subsidiaries to
Senior Indebtedness in order for such intercompany Indebtedness to be considered Subordinated Intercompany Obligations;

NOW, THEREFORE, in consideration of the
mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged
by the parties hereto, the Parties, the Administrative Agent (for the benefit of the Senior Creditors) hereby agree as follows:

1.The Subordinated Intercompany
Obligations and all payments of principal, interest, and all other amounts thereunder are hereby, and shall continue to be, subject
and subordinate in right of payment to the prior payment in full, in cash, of all Senior Indebtedness to the extent, and in the
manner set forth herein. The foregoing shall apply, notwithstanding the availability of other collateral to the Senior Creditors
or the holders of Subordinated Intercompany Obligations or the actual date and time of execution, delivery, recordation, filing
or perfection of any security interests granted with respect to the Senior Indebtedness or the Subordinated Intercompany Obligations,
as the case may be, or the lien or priority of payment thereof, and in any instance wherein the Senior Indebtedness or any claim
for the Senior Indebtedness is subordinated, avoided or disallowed, in whole or in part, under Title 11 of the United States Code
(the “Bankruptcy Code”) or other applicable federal, foreign, state or local law. In the event of a proceeding,
whether voluntary or involuntary, for insolvency, liquidation, reorganization, dissolution, bankruptcy or other similar proceeding
pursuant to the Bankruptcy Code or other applicable federal, foreign, state or local law with respect to the Borrower or any of
the Borrower’s Subsidiaries (each, a “Bankruptcy Proceeding”), the Senior Indebtedness shall include all
interest accrued (or to accrue) on the

    	I-1

    	 

    

Senior Indebtedness, in accordance with, and at the
rates specified in, the Senior Indebtedness, both for periods before and for periods after the commencement of any of such proceedings,
even if the claim for such interest is not allowed pursuant to the Bankruptcy Code or other applicable law.

2.Each Party (as a creditor
in respect of any Subordinated Intercompany Obligations) hereby agrees that until all Senior Indebtedness has been repaid in full
in cash:

A.If any Event of Default exists,
such Party shall not, without the prior written consent of the Required Senior Creditors, which consent may be withheld or conditioned
in the Required Senior Creditors’ sole discretion, commence, join or participate in, any Enforcement Action;

B.In the event that any Event
of Default exists or would result from such payment on the Subordinated Intercompany Obligations, then (i) the Senior Creditors
may, but shall not be obligated to, demand, claim and collect any such payment or distribution that would, but for these subordination
provisions, be payable or deliverable with respect to the Subordinated Intercompany Obligations and (ii) until the Senior Indebtedness
shall have been fully paid in cash and satisfied and all of the obligations of the Borrower or any of the Borrower’s Subsidiaries
to the Senior Creditors have been performed in full, no payment of any kind or character (whether in cash, property, securities
or otherwise) shall be made to or accepted by any Party in respect of the Subordinated Intercompany Obligations; provided, that
the Required Senior Creditors may agree in writing that payments may be made with respect to the Subordinated Intercompany Obligations
which would otherwise be prohibited pursuant to the provisions contained above, provided, further, that any such waiver
shall be specifically limited to the respective payment or payments which the Required Senior Creditors agree may be so paid to
any Party in respect of the Subordinated Intercompany Obligations;

C.In the event such Party receives
any payment or prepayment of principal or interest in whole or in part, of (or with respect to) the Subordinated Intercompany Obligations
in violation of the terms of this Agreement, then in each case any payment or distribution of any kind or character, whether in
cash, property or securities which shall be payable or deliverable with respect to any or all of the Subordinated Intercompany
Obligations or which has been received by any Party shall be held in trust by such Party for the benefit of the Senior Creditors
and shall forthwith be paid or delivered directly to the Senior Creditors for application to the payment of the Senior Indebtedness
(which application shall be further subject, as between the Senior Creditors, to the respective documentation governing the Senior
Indebtedness) to the extent necessary to make payment in full in cash of all sums due under the Senior Indebtedness remaining unpaid
after giving effect to any concurrent payment or distribution to the Senior Creditors.

D.If such Party shall acquire
by indemnification, subrogation or otherwise, in respect of any Subordinated Intercompany Indebtedness any lien, estate, right
or other interest in any of the assets or properties of the Borrower or any of the Borrower’s Subsidiaries, that lien, estate,
right or other interest shall be subordinate in right of payment to the Senior Indebtedness and the lien of the Senior Indebtedness
as provided herein, and such Party hereby waives any and all rights it may acquire by subrogation or otherwise to any lien of the
Senior Indebtedness or any portion thereof until such time as all Senior Indebtedness has been repaid in full in cash;

    	I-2

    	 

    

E.After request by the Administrative
Agent or the Required Senior Creditors, if an Event of Default shall have occurred and be continuing, such Party shall promptly
furnish the Senior Creditors with a statement, duly acknowledged and certified setting forth the amount of the Subordinated Intercompany
Obligations, the unpaid principal balance, all accrued but unpaid interest and any other sums due and owing thereunder, the rate
of interest, the monthly payments and that, to the best knowledge of such Party, there exists no defaults under the Subordinated
hitercompany Obligations, or if any such default exists, specifying the defaults and the nature thereof;

F.In any case commenced by or
against the Borrower or any of the Borrower’s Subsidiaries under Chapter 11 of the Bankruptcy Code or any similar provision
thereof, or any similar federal, foreign, state or local statute (a “Reorganization Proceeding”), the Required
Senior Creditors shall have the exclusive right to exercise any voting rights in respect of the claims of such Party against the
Borrower or any of the Borrower’s Subsidiaries;

G.If, at any time, all or part
of any payment with respect to Senior Indebtedness theretofore made (whether by the Borrower, any of the Borrower’s Subsidiaries
or any other Person or enforcement of any right of setoff or otherwise) is rescinded or must otherwise be returned by the holders
of Senior Indebtedness for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of
the Borrower, any of the Borrower’s Subsidiaries or any such other Persons), the subordination provisions set forth herein
shall continue to be effective or be reinstated, as the case may be, all as though such payment had not been made;

H.Such Party shall not object
to the entry of any order or orders approving any cash collateral stipulations, adequate protection stipulations or similar stipulations
executed by the Senior Creditors in any Reorganization Proceeding or any other proceeding under the Bankruptcy Code; and

I.Such Party waives any marshalling
rights with respect to the Senior Creditors in any Reorganization Proceeding or any other proceeding under the Bankruptcy Code.

3.Each Party hereby covenants
and agrees that it will not lend, hold or permit to exist any Subordinated Intercompany Obligations owed by it or to it (in accordance
with the definition thereof contained herein) unless each obligee, or obligor, as the case may be, with respect to such Subordinated
Intercompany Obligations is (or concurrently with such extension becomes) a Party to this Agreement.

4.Any payments made to, or
received by, any Party in respect of any guaranty or security in support of the Subordinated Intercompany Obligations shall be
subject to the terms of this Agreement and applied on the same basis as payments made directly by the obligor under such Subordinated
Intercompany Obligations. To the extent that the Borrower or any of the Borrower’s Subsidiaries (other than the respective
obligor or obligors which are already Parties hereto) provides a guaranty or any security in support of any Subordinated Intercompany
Obligations, the Party which is the lender of the respective Subordinated Intercompany Obligations will cause each such Person
to become a Party hereto (if such Person is not already a Party hereto) not later than the date of the execution and delivery of
the respective guarantee or security documentation; provided that any failure to comply with the foregoing requirements
of this Section 4 will have no effect whatsoever on the subordination provisions contained herein (which shall apply to all payments
received with respect to any guarantee or security for any Subordinated Intercompany Obligations, 

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whether or not the Person furnishings such
guarantee or security is a Party hereto) (it being understood that nothing in this Agreement otherwise permits the giving of any
such guaranty or the granting of any such security to the extent that same is not permitted by the terms of the documents governing
the Senior Indebtedness (including the Credit Agreement)).

5.Definitions. As and
in this Agreement, the terms set forth below shall have the respective meanings provided below:

“Enforcement Action”
shall mean any acceleration of all or any part of the Subordinated Intercompany Obligations, any foreclosure proceeding, the exercise
of any power of sale, the obtaining of a receiver, the seeking of payment of default interest, the suing on, or otherwise taking
action to enforce the obligation of the Borrower or any of the Borrower’s Subsidiaries to pay any amounts relating to any
Subordinated Intercompany Obligations, the exercising of any banker’s lien or rights of set-off or recoupment, the institution
of a Bankruptcy Proceeding against the Borrower or any of the Borrower’s Subsidiaries, or the taking of any other enforcement
action against any asset or property of the Borrower or the Borrower’s Subsidiaries.

“Event of Default”
shall mean (a) any Event of Default under, and as defined in, the Credit Agreement.

“Required Senior Creditors”
shall mean at any time when any Senior Indebtedness or Letters of Credit are outstanding or any Commitments exist, the Requisite
Lenders (or, to the extent provided in Section 10.5 of the Credit Agreement, each of the Lenders).

“Senior Creditors”
shall mean all holders from time to time of any Senior Indebtedness.

“Senior Indebtedness”
shall have the meaning given to the term “Obligations” in the Credit Agreement.

“Subordinated Intercompany
Obligations” shall mean the principal of, interest on, and all other amounts owing from time to time in respect of all
loans or advances owing by any Guarantor to Borrower or any of its Subsidiaries (including, without limitation, pursuant to guarantees
thereof or security therefor).

6.Each Party agrees to be fully
bound by all terms and provisions contained in this Agreement, both with respect to any Subordinated Intercompany Obligations (including
any guarantees thereof and security therefor) owed to it, and with respect to all Subordinated Intercompany Obligations (including
all guarantees thereof and security therefor) owing by it.

7.It is understood and agreed
that any Subsidiary of the Borrower that is required to execute a counterpart of this Agreement after the date hereof pursuant
to the requirements of the Credit Agreement or any other Senior Indebtedness shall become a Party hereunder by executing a counterpart
hereof (or by executing a Joinder Agreement) and delivering same to the Administrative Agent.

8.No failure or delay on the
part of any party hereto or any holder of Senior Indebtedness in exercising any right, power or remedy hereunder shall operate
as a waiver thereof, nor

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shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy hereunder.

9.Each Party hereto acknowledges
that to the extent that no adequate remedy at law exists for breach of its obligations under this Agreement, in the event any Party
fails to comply with its obligations hereunder, the Administrative Agent or the holders of Senior Indebtedness shall have the right
to obtain specific performance of the obligations of such defaulting Party, injunctive relief or such other equitable relief as
may be available.

10.In the event of any conflict
between the terms of this Agreement and those of the Credit Agreement, the terms of the Credit Agreement shall control. Any notice
to be given under this Agreement shall be in writing and shall be sent in accordance with the provisions of the Credit Agreement.

11.In the event of any conflict
between the provisions of this Agreement and the provisions of any document governing any Subordinated Intercompany Obligation,
the provisions of this Agreement shall prevail.

12.No person other than the
parties hereto, the Senior Creditors from time to time and their successors and permitted assigns as holders of the Senior Indebtedness
and the Subordinated Intercompany Obligations shall have any rights under this Agreement.

13.This Agreement may be executed
in any number of counterparts each of which shall be deemed an original but all of which together shall constitute one and the
same instrument.

14.No amendment, supplement,
modification, waiver or termination of this Agreement shall be effective against a party against whom the enforcement of such amendment,
supplement, modification, waiver or termination would be asserted, unless such amendment, supplement, modification, waiver or termination
was made in a writing signed by such party, provided that amendments hereto (including any termination hereof) shall be
effective as against the Senior Creditors if executed and delivered by the Required Senior Creditors at such time.

15.In case any one or more
of the provisions confined in this Agreement, or any application thereof, shall be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein, and any other application thereof, shall
not in any way be affected or impaired thereby.

16.All notices, requests, demands
or other communications pursuant hereto shall be sent or delivered by mail, facsimile or courier service and all such notices and
communications shall, when mailed, facsimiled, or sent by overnight courier, be effective when deposited in the mails, delivered
to the overnight courier, as the case may be, or sent by facsimile, except that notices and communications to the Administrative
Agent or any Party shall not be effective until received by the Administrative Agent or such Party, as the case may be. All notices
and other communications shall be in writing and addressed to such party at (i) in the case of any Lender, as provided in the Credit
Agreement and (ii) in the case of any Party, c/o CIT Group Inc., 1 CIT Drive, Livingston, NJ 07039 Attention: Michael J. McConnell,
Director, Facsimile No.: (973) 740-5750; or in any case at such other address or facsimile number as any of the Persons listed
above may hereafter notify the others in writing.

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17.(a)THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED
STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY
OF THIS AGREEMENT, EACH PARTY HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY,
THE JURISDICTION OF THE AFOREMENTIONED COURTS. EACH PARTY HEREBY IRREVOCABLY DESIGNATES, APPOINTS AND EMPOWERS CT CORPORATION SYSTEM,
WITH OFFICES ON THE DATE HEREOF AT 111 EIGHTH AVENUE, NEW YORK, NEW YORK, 10011, AS ITS AUTHORIZED DESIGNEE, APPOINTEE AND AGENT
TO RECEIVE, ACCEPT AND ACKNOWLEDGE FOR AND ON ITS BEHALF, AND IN RESPECT OF ITS PROPERTY, SERVICE OF ANY AND ALL LEGAL PROCESS,
SUMMONS, NOTICES AND DOCUMENTS WHICH MAY BE SERVED IN ANY SUCH ACTION OR PROCEEDING. IF FOR ANY REASON SUCH AUTHORIZED DESIGNEE,
APPOINTEE AND AGENT SHALL CEASE TO BE AVAILABLE TO ACT AS SUCH, EACH PARTY AGREES TO DESIGNATE A NEW AUTHORIZED DESIGNEE, APPOINTEE
AND AGENT IN NEW YORK CITY ON THE TERMS AND FOR THE PURPOSES OF THIS PROVISION REASONABLY SATISFACTORY TO THE ADMINISTRATIVE AGENT
UNDER THIS AGREEMENT. EACH PARTY HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER
SUCH PARTY, AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT BROUGHT IN ANY OF
THE AFOREMENTIONED COURTS, THAT SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY. EACH PARTY FURTHER IRREVOCABLY CONSENTS
TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF
BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH PARTY AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 17 ABOVE,
SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE
OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER
ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE IF IN CONFORMITY WITH THE FOREGOING.
NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY SENIOR CREDITOR TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED
BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY PARTY IN ANY JURISDICTION.

(b) EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING
OUT OF OR IN CONNECTION WITH THIS AGREEMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER
IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT
HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

    	I-6

    	 

    

(c) EACH OF THE PARTIES TO
THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

18.This Agreement shall bind
and inure to the benefit of the Administrative Agent, the Senior Creditors and each Party and their respective successors, permitted
transferees and assigns.

*      *      *

    	I-7

    	 

    

 

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

		CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 

		[SUBSIDIARIES]
	 	By:	 
	 	 	Name:
	 	 	Title:

    	I-8

    	 

    

		BANK OF AMERICA, N.A., as Administrative Agent
	 	By:	 
	 	 	Name:
	 	 	Title:

    	I-9

    	 

    

EXHIBIT J TO

AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT

[GUARANTOR ASSET COVERAGE RATIO
OFFICER’S CERTIFICATE]

To:Bank of America,
N.A., as Administrative Agent, and the Lenders party to the Credit Agreement referred to below.

THE UNDERSIGNED HEREBY CERTIFIES AS
FOLLOWS:

1.I am the ___________ of CIT GROUP
INC., a Delaware corporation (“Borrower”).

2.I have reviewed the terms of
that certain Amended and Restated Revolving Credit and Guaranty Agreement, dated as of January 27, 2014 (as it may be amended,
supplemented or otherwise modified, the “Credit Agreement”; the terms defined therein and not otherwise
defined herein being used herein as therein defined), by and among Borrower, certain subsidiaries of Borrower, as Guarantors,
the Lenders party thereto from time to time and BANK OF AMERICA, N.A., as Administrative Agent and L/C
Issuer.

3.I certify that as of [last day of
month], [year], Borrower was in compliance with Section 6.3(b) of the Credit Agreement. Attached hereto as Annex A is a
calculation of the ratio described in such section as of such day.

		CIT GROUP INC.
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	J-1

    	 

    

ANNEX A TO

GUARANTOR ASSET COVERAGE RATIO CERTIFICATE

AS OF [mm/dd/yy] (the “Calculation
Date”)

SUMMARY CALCULATION

	 	Carrying Value of

Eligible Assets of the Guarantors
	Guarantor Asset Coverage Ratio:  (A)/(B)=	 
	(A) Sum of Eligible Assets at Guarantors	 
	C.I.T. Leasing Corporation	$[                         ]
	CIT Capital USA Inc.	$[                         ]
	CIT Financial USA, Inc.	$[                         ]
	CIT Healthcare LLC	$[                         ]
	CIT Lending Services Corporation	$[                         ]
	CIT Technology Financing Services, Inc.	$[                         ]
	The CIT Group / Business Credit, Inc.	$[                         ]
	The CIT Group / Equipment Financing, Inc.	$[                         ]
	Total	$[                         ]
	 	 
	(B) Sum of	 
	(i) Total Commitments under Credit Agreement	$[                         ]
	(ii) Outstanding Indebtedness of the Guarantors (excluding Subordinated Intercompany Indebtedness)	$[                         ]
	Total	$[                         ]

    	Annex A-1

    	 

    

	 	Carrying Value of Eligible Assets of the Guarantors
	 	 
	Actual: 	 

	
        Required:

         

        The applicable ratio indicated in the ratings
        based grid, as set forth below, determined by reference to the Debt Rating to be effective promptly after (i) public announcement
        of any change of Borrower’s Debt Rating or (ii) delivery of written notice of any change of Borrower’s Debt Rating
        by Borrower to the Administrative Agent.

         

	 	Debt Rating	Minimum Guarantor Asset Coverage Ratio	 
	 	Level I:  Debt Ratings are BB+ or higher by S&P and Ba1 or higher by Moody’s	1.250 to 1.000	 
	 	Level II:  Level I does not apply and Debt Ratings are BB or higher by S&P and Ba2 or higher by Moody’s	1.375 to 1.000	 
	 	Level III:  Neither Level I nor Level II applies 	1.500 to 1.000	 

    	Annex A-2

    	 

    

SCHEDULE OF GUARANTORS OUTSTANDING INDEBTEDNESS

	Name of Guarantor	Description of Indebtedness	Outstanding Indebtedness
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	 	 	$[                         ]
	Total	 	$[                         ]

 

 

    	Annex A-3

    	 

    

DETAIL BY ASSET TYPE

	 	 	 	Carrying Value of Eligible Assets of Guarantor
	Segment	Name of Guarantor	Carrying Value of All Assets of Guarantor	Under Operating Leases	Finance Receivables	Total Eligible Assets
	Air
	 	The CIT Group / Business Credit, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	C.I.T. Leasing Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Lending Services Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Technology Financing Services, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Capital USA Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Financial USA, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Healthcare LLC	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	Total Air Assets	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	Rail
	 	The CIT Group / Business Credit, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	C.I.T. Leasing Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Lending Services Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Technology Financing Services, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Capital USA Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Financial USA, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Healthcare LLC	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	Total Rail Assets	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	Corporate Finance
	 	The CIT Group / Business Credit, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	C.I.T. Leasing Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Lending Services Corporation	$$[               ]	$$[               ]	$$[               ]	$$[               ]
	 	CIT Technology Financing Services, Inc.	$$[               ]	$$[               ]	$$[               ]	$$[               ]

    	Annex A-4

    	 

    

 

	 	 	 	Carrying Value of Eligible Assets of Guarantor
	Segment	Name of Guarantor	Carrying Value of All Assets of Guarantor	Under Operating Leases	Finance Receivables	Total Eligible Assets
	 	CIT Capital USA Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Financial USA, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Healthcare LLC	$[               ]	$[               ]	$[               ]	$[               ]
	 	Total Corporate Finance Assets	$[               ]	$[               ]	$[               ]	$[               ]
	Small Business Lending
	 	The CIT Group / Business Credit, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	C.I.T. Leasing Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Lending Services Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Technology Financing Services, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Capital USA Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Financial USA, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Healthcare LLC	$[               ]	$[               ]	$[               ]	$[               ]
	 	Total Small Business Lending Assets	$[               ]	$[               ]	$[               ]	$[               ]
	Vendor Finance
	 	The CIT Group / Business Credit, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	C.I.T. Leasing Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Lending Services Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Technology Financing Services, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Capital USA Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Financial USA, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Healthcare LLC	$[               ]	$[               ]	$[               ]	$[               ]
	 	Total Vendor Finance Assets	$[               ]	$[               ]	$[               ]	$[               ]
	Trade Finance
	 	The CIT Group / Business Credit, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	C.I.T. Leasing Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$[               ]	$[               ]	$[               ]	$[               ]

    	Annex A-5

    	 

    

 

	 	 	 	Carrying Value of Eligible Assets of Guarantor
	Segment	Name of Guarantor	Carrying Value of All Assets of Guarantor	Under Operating Leases	Finance Receivables	Total Eligible Assets
	 	CIT Lending Services Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Technology Financing Services, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Capital USA Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Financial USA, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Healthcare LLC	$[               ]	$[               ]	$[               ]	$[               ]
	 	Total Trade Finance Assets	$[               ]	$[               ]	$[               ]	$[               ]
	Student Lending
	 	The CIT Group / Business Credit, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	C.I.T. Leasing Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	The CIT Group / Equipment Financing, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Lending Services Corporation	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Technology Financing Services, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Capital USA Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Financial USA, Inc.	$[               ]	$[               ]	$[               ]	$[               ]
	 	CIT Healthcare LLC	$[               ]	$[               ]	$[               ]	$[               ]
	 	Total Student Lending Assets	$[               ]	$[               ]	$[               ]	$[               ]
	 	Overall Total	$[               ]	$[               ]	$[               ]	$[               ]

 

    	Annex A-6

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