Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

Deal CUSIP Number: 61022UAA7 

Revolving Credit Facility CUSIP Number: 61022UAB5 

CREDIT AGREEMENT 
 Dated as
of March 22, 2019 
 among 

MONOTYPE IMAGING INC., 
 as
the Borrower, 
 MONOTYPE IMAGING HOLDINGS INC., 

as a Guarantor, 
 BANK OF
AMERICA, N.A., 
 as Administrative Agent, Swing Line Lender and 

an L/C Issuer, 
 the other Lenders
party hereto, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

as Sole Lead Arranger and Sole Bookrunner 

and 
 SILICON VALLEY BANK,

 as Syndication Agent 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I
	  	 DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 1.01
	  	 Defined Terms
	  	 	1	 
	 1.02
	  	 Other Interpretive Provisions
	  	 	37	 
	 1.03
	  	 Accounting Terms
	  	 	38	 
	 1.04
	  	 Rounding
	  	 	39	 
	 1.05
	  	 Times of Day
	  	 	39	 
	 1.06
	  	 Letter of Credit Amounts
	  	 	39	 
	 1.07
	  	 Currency Equivalents Generally
	  	 	39	 
	 1.08
	  	 Interest Rates
	  	 	39	 
	 1.09
	  	 Limited Condition Transaction, Investments, and Restricted Payments
	  	 	40	 
			
	 ARTICLE II
	  	 THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	40	 
			
	 2.01
	  	 The Loans
	  	 	40	 
	 2.02
	  	 Borrowings, Conversions and Continuations of Loans
	  	 	41	 
	 2.03
	  	 Letters of Credit
	  	 	42	 
	 2.04
	  	 Swing Line Loans
	  	 	51	 
	 2.05
	  	 Prepayments
	  	 	54	 
	 2.06
	  	 Termination or Reduction of Commitments
	  	 	55	 
	 2.07
	  	 Repayment of Loans
	  	 	56	 
	 2.08
	  	 Interest
	  	 	56	 
	 2.09
	  	 Fees
	  	 	57	 
	 2.10
	  	 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	  	 	57	 
	 2.11
	  	 Evidence of Debt
	  	 	58	 
	 2.12
	  	 Payments Generally; Administrative Agent’s Clawback
	  	 	59	 
	 2.13
	  	 Sharing of Payments by Lenders
	  	 	60	 
	 2.14
	  	 Increase in Commitments, Borrower Request
	  	 	61	 
	 2.15
	  	 Reserved
	  	 	63	 
	 2.16
	  	 Defaulting Lenders
	  	 	63	 
			
	 ARTICLE III
	  	 TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	67	 
			
	 3.01
	  	 Taxes
	  	 	67	 
	 3.02
	  	 Illegality
	  	 	70	 
	 3.03
	  	 Inability to Determine Rates
	  	 	71	 
	 3.04
	  	 Increased Costs; Reserves on Eurodollar Rate Loans
	  	 	73	 
	 3.05
	  	 Compensation for Losses
	  	 	75	 
	 3.06
	  	 Mitigation Obligations; Replacement of Lenders
	  	 	75	 
	 3.07
	  	 Survival
	  	 	76	 
			
	 ARTICLE IV
	  	 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	76	 
			
	 4.01
	  	 Conditions of Initial Credit Extension
	  	 	76	 
	 4.02
	  	 Conditions to All Credit Extensions
	  	 	80	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 ARTICLE V
	  	 REPRESENTATIONS AND WARRANTIES
	  	 	80	 
			
	 5.01
	  	 Existence, Qualification and Power
	  	 	80	 
	 5.02
	  	 Authorization; No Contravention
	  	 	81	 
	 5.03
	  	 Governmental Authorization; Other Consents
	  	 	81	 
	 5.04
	  	 Binding Effect
	  	 	81	 
	 5.05
	  	 Financial Statements; No Material Adverse Effect
	  	 	81	 
	 5.06
	  	 Litigation
	  	 	82	 
	 5.07
	  	 No Default
	  	 	82	 
	 5.08
	  	 Ownership of Property
	  	 	82	 
	 5.09
	  	 Environmental Matters
	  	 	82	 
	 5.10
	  	 Insurance
	  	 	83	 
	 5.11
	  	 Taxes
	  	 	83	 
	 5.12
	  	 ERISA Compliance
	  	 	84	 
	 5.13
	  	 Subsidiaries; Equity Interests; Loan Parties
	  	 	85	 
	 5.14
	  	 Margin Regulations; Investment Company Act
	  	 	85	 
	 5.15
	  	 Disclosure
	  	 	85	 
	 5.16
	  	 Compliance with Laws
	  	 	86	 
	 5.17
	  	 Intellectual Property; Licenses, Etc
	  	 	86	 
	 5.18
	  	 Solvency
	  	 	86	 
	 5.19
	  	 [Reserved]
	  	 	86	 
	 5.20
	  	 OFAC
	  	 	86	 
	 5.21
	  	 Anti-Corruption Laws
	  	 	87	 
	 5.22
	  	 EEA Financial Institutions
	  	 	87	 
	 5.23
	  	 Beneficial Ownership Certificate
	  	 	87	 
			
	 ARTICLE VI
	  	 AFFIRMATIVE COVENANTS
	  	 	87	 
			
	 6.01
	  	 Financial Statements
	  	 	87	 
	 6.02
	  	 Certificates; Other Information
	  	 	88	 
	 6.03
	  	 Notices
	  	 	90	 
	 6.04
	  	 Payment of Obligations; File Tax Returns
	  	 	90	 
	 6.05
	  	 Preservation of Existence, Etc
	  	 	90	 
	 6.06
	  	 Maintenance of Properties
	  	 	91	 
	 6.07
	  	 Maintenance of Insurance
	  	 	91	 
	 6.08
	  	 Compliance with Laws
	  	 	91	 
	 6.09
	  	 Books and Records
	  	 	91	 
	 6.10
	  	 Inspection Rights
	  	 	91	 
	 6.11
	  	 Use of Proceeds
	  	 	92	 
	 6.12
	  	 Covenant to Guarantee Obligations and Give Security
	  	 	92	 
	 6.13
	  	 Compliance with Environmental Laws
	  	 	93	 
	 6.14
	  	 Further Assurances
	  	 	93	 
	 6.15
	  	 Information Regarding Collateral
	  	 	94	 
	 6.16
	  	 Anti-Corruption Laws; Sanctions
	  	 	94	 
	 6.17
	  	 Post-Closing Obligations
	  	 	94	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 ARTICLE VII
	  	 NEGATIVE COVENANTS
	  	 	94	 
			
	 7.01
	  	 Liens
	  	 	94	 
	 7.02
	  	 Indebtedness
	  	 	96	 
	 7.03
	  	 Investments
	  	 	98	 
	 7.04
	  	 Fundamental Changes
	  	 	100	 
	 7.05
	  	 Dispositions
	  	 	100	 
	 7.06
	  	 Restricted Payments
	  	 	101	 
	 7.07
	  	 Change in Nature of Business
	  	 	102	 
	 7.08
	  	 Transactions with Affiliates
	  	 	102	 
	 7.09
	  	 Burdensome Agreements
	  	 	103	 
	 7.10
	  	 Use of Proceeds
	  	 	103	 
	 7.11
	  	 Financial Covenants
	  	 	103	 
	 7.12
	  	 Holding Company
	  	 	104	 
	 7.13
	  	 Sanctions
	  	 	104	 
	 7.14
	  	 Anti-Corruption Laws
	  	 	104	 
			
	 ARTICLE VIII
	  	 EVENTS OF DEFAULT AND REMEDIES
	  	 	104	 
			
	 8.01
	  	 Events of Default
	  	 	104	 
	 8.02
	  	 Remedies upon Event of Default
	  	 	106	 
	 8.03
	  	 Application of Funds
	  	 	107	 
			
	 ARTICLE IX
	  		  	 	108	 
			
	 9.01
	  	 Appointment and Authority
	  	 	108	 
	 9.02
	  	 Rights as a Lender
	  	 	109	 
	 9.03
	  	 Exculpatory Provisions
	  	 	109	 
	 9.04
	  	 Reliance by Administrative Agent
	  	 	110	 
	 9.05
	  	 Delegation of Duties
	  	 	110	 
	 9.06
	  	 Resignation of Administrative Agent
	  	 	111	 
	 9.07
	  	 Non-Reliance on Administrative Agent and Other
Lenders
	  	 	112	 
	 9.08
	  	 No Other Duties, Etc
	  	 	113	 
	 9.09
	  	 Administrative Agent May File Proofs of Claim; Credit Bidding
	  	 	113	 
	 9.10
	  	 Collateral and Guaranty Matters
	  	 	114	 
	 9.11
	  	 Secured Cash Management Agreements and Secured Hedge Agreements
	  	 	115	 
	 9.12
	  	 Certain ERISA Matters
	  	 	115	 
	 9.13
	  	 Administrative Agent as security trustee for UK Security Document
	  	 	117	 
			
	 ARTICLE X
	  		  	 	120	 
			
	 [Reserved]
	  		  	 	120	 
			
	 ARTICLE XI
	  	 MISCELLANEOUS
	  	 	120	 
			
	 11.01
	  	 Amendments, Etc
	  	 	120	 
	 11.02
	  	 Notices; Effectiveness; Electronic Communications
	  	 	122	 
	 11.03
	  	 No Waiver; Cumulative Remedies; Enforcement
	  	 	124	 
	 11.04
	  	 Expenses; Indemnity; Damage Waiver
	  	 	125	 
	 11.05

	  	 Payments Set Aside
	  	 	127	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 11.06
	  	 Successors and Assigns
	  	 	127	 
	 11.07
	  	 Treatment of Certain Information; Confidentiality
	  	 	133	 
	 11.08
	  	 Right of Setoff
	  	 	134	 
	 11.09
	  	 Interest Rate Limitation
	  	 	135	 
	 11.10
	  	 Counterparts; Integration; Effectiveness
	  	 	135	 
	 11.11
	  	 Survival of Representations and Warranties
	  	 	135	 
	 11.12
	  	 Severability
	  	 	136	 
	 11.13
	  	 Replacement of Lenders
	  	 	136	 
	 11.14
	  	 Governing Law; Jurisdiction; Etc
	  	 	137	 
	 11.15
	  	 Waiver of Jury Trial
	  	 	138	 
	 11.16
	  	 No Advisory or Fiduciary Responsibility
	  	 	138	 
	 11.17
	  	 Electronic Execution of Assignments and Certain Other Documents
	  	 	139	 
	 11.18
	  	 USA PATRIOT Act
	  	 	139	 
	 11.19
	  	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	140	 
	 11.20
	  	 Judgment Currency
	  	 	140	 

  
 -iv- 

			
	SCHEDULES
		
	 1.01
	  	Existing Letters of Credit
	 2.01A
	  	Commitments and Applicable Percentages
	 2.01B
	  	Swing Line Commitments
	 2.01C
	  	L/C Commitments
	 5.03
	  	Certain Authorizations
	 5.08(e)
	  	Existing Investments
	 5.09
	  	Environmental Matters
	 5.12(d)
	  	Pension Plans
	 5.13
	  	Subsidiaries and Other Equity Investments; Loan Parties
	 5.17
	  	Intellectual Property Matters
	 6.12
	  	Guarantors
	 6.17
	  	Post-Closing Obligations
	 7.01
	  	Existing Liens
	 7.02
	  	Existing Indebtedness
	 7.03(f)
	  	Existing Investments
	 7.09
	  	Burdensome Agreements
	 11.02
	  	Administrative Agent’s Office, Certain Addresses for Notices
	 11.06
	  	Disqualified Institutions
		
	EXHIBITS	  	
	Form of	  	
		
	 A
	  	Committed Loan Notice
	 B
	  	Swing Line Loan Notice
	 C
	  	Revolving Credit Note
	 D
	  	Compliance Certificate
	 E-1
	  	Assignment and Assumption
	 E-2
	  	Administrative Questionnaire
	 F
	  	Guaranty
	 G
	  	Security Agreement
	 H
	  	IP Reporting Certificate
	 I
	  	Perfection Certificate
	 M-1
	  	U.S. Tax Compliance Certificate
	 M-2
	  	U.S. Tax Compliance Certificate
	 M-3
	  	U.S. Tax Compliance Certificate
	 M-4
	  	U.S. Tax Compliance Certificate
	 N
	  	Solvency Certificate
	 O
	  	Notice of Loan Prepayment

  

  
 i 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT (this “Agreement”) is entered into as of March 22, 2019 among MONOTYPE IMAGING
INC., a Delaware corporation (the “Borrower”), the Guarantors listed on Schedule 6.12 hereto, each lender from time to time party hereto (collectively, the “Lenders” and individually, a
“Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer. 
 PRELIMINARY
STATEMENTS: 
 The Borrower has requested that the Lenders provide a revolving credit facility, and the Lenders have agreed to lend and
each L/C Issuer has agreed to issue letters of credit, in each case, on the terms and subject to the conditions set forth herein. 
 In
consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS 
 1.01    Defined Terms. As used in this Agreement, the following terms
shall have the meanings set forth below: 
 “Acquisition”, by any Person, means the acquisition by such Person, in a single
transaction or in a series of related transactions, of either (a) all or any substantial portion of the property of, or a line of business or division of, another Person, or (b) at least a majority of the voting stock of another Person, in
each case whether or not involving a merger or consolidation with such other Person. 
 “Acquisition Holiday” has the
meaning specified in Section 7.11(b). 
 “Act” has the meaning specified in
Section 11.18. 
 “Administrative Agent” means Bank of America in its capacity as administrative
agent under any of the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office”
means, as appropriate, (a) the Administrative Agent’s address as set forth on Schedule 11.02, or such other address as the Administrative Agent may from time to time notify the Borrower and the Lenders in writing and (b) the
Administrative Agent’s account separately disclosed in writing by the Administrative Agent to the Borrower and the Lenders from time to time. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-2 or any other form approved by the Administrative Agent. 
 “Affiliate” means,
with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

 “Agent Parties” has the meaning specified in
Section 11.02(c).  
 “Agreement” means this Credit Agreement. 

“Agreement Currency” has the meaning specified in Section 11.20.  

“Applicable Fee Rate” means, at any time, in respect of the Revolving Credit Facility, (a) from the Closing Date to the
date on which the Administrative Agent receives a Compliance Certificate pursuant to Section 6.02(a) for the fiscal quarter ending June 30, 2019, 0.175% per annum and (b) thereafter, the applicable percentage per
annum set forth below determined by reference to the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a): 

 

							
	Applicable Fee Rate	 
	 Pricing Level
	  	Consolidated
Leverage Ratio	  	Commitment Fee	 
	I	  	> 2.00:1.00	  	 	0.250	% 
	II	  	< 2.00:1.00 >
1.50:1.00	  	 	0.225	% 
	III	  	< 1.50:1.00 >
1.00:1.00	  	 	0.200	% 
	IV	  	< 1.00:1.00	  	 	0.175	% 

 Any increase or decrease in the Applicable Fee Rate resulting from a change in the Consolidated Leverage Ratio
shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when due
in accordance with such Section, then, upon the request of the Required Lenders, Pricing Level I shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in
effect until the date on which such Compliance Certificate is delivered. 
 Notwithstanding anything to the contrary contained in this
definition, the determination of the Applicable Fee Rate for any period shall be subject to the provisions of Section 2.10(b). 

“Applicable Law” means, as to any Person, all applicable Laws binding upon such Person or to which such a Person is subject.

 “Applicable Percentage” means, in respect of the Revolving Credit Facility, with respect to any Revolving Credit Lender
at any time, the percentage (carried out to the ninth decimal place) of the Revolving Credit Facility represented by such Revolving Credit Lender’s 

  
 2 

 
Commitment at such time, subject to adjustment as provided in Section 2.16. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and the
obligation of the L/C Issuers to make L/C Credit Extensions has been terminated pursuant to Section 8.02, or if the Commitments have expired, then the Applicable Percentage of each Revolving Credit Lender in respect of the
Revolving Credit Facility shall be determined based on the Applicable Percentage of such Revolving Credit Lender in respect of the Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments and to any
Lender’s status as a Defaulting Lender at the time of determination. The initial Applicable Percentage of each Lender in respect of the Revolving Credit Facility is set forth opposite the name of such Lender on Schedule 2.01A or in the
Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. 
 “Applicable Rate” means
in respect of the Revolving Credit Facility, (a) from the Closing Date to the date on which the Administrative Agent receives a Compliance Certificate pursuant to Section 6.02(a) for the fiscal quarter ending
June 30, 2019, 0.00% per annum for Base Rate Loans and 1.00% per annum for Eurodollar Rate Loans and Letter of Credit Fees and (b) thereafter, the applicable percentage per annum set forth below determined by reference to the Consolidated
Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a): 
  

											
	Applicable Rate	 
	Pricing Level	  	Consolidated
Leverage Ratio	  	Eurodollar
Rate and
Letters of
Credit	 	 	Base Rate	 
	I	  	> 2.00:1.00	  	 	1.625	% 	 	 	0.625	% 
	II	  	< 2.00:1.00 >
1.50:1.00	  	 	1.375	% 	 	 	0.375	% 
	III	  	< 1.50:1.00 >
1.00:1.00	  	 	1.25	% 	 	 	0.25	% 
	IV	  	< 1.00:1.00	  	 	1.00	% 	 	 	0.00	% 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become
effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered
when due in accordance with such Section 6.02(a), then, upon the request of the Required Lenders, Pricing Level I shall apply in respect of the Revolving Credit Facility as of the first Business Day after the date on which
such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. 

Notwithstanding anything to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be
subject to the provisions of Section 2.10(b). 

  
 3 

 “Appropriate Lender” means, at any time, (a) with respect to the
Revolving Credit Facility, a Lender that has a Commitment or holds a Revolving Credit Loan at such time, (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuers and (ii) if any Letters of Credit have been issued
pursuant to Section 2.03(a), the Revolving Credit Lenders and (c) with respect to the Swing Line Sublimit, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to
Section 2.04(a), the Revolving Credit Lenders. 
 “Approved Fund” means any Fund that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arranger” means Merrill Lynch, Pierce, Fenner & Smith, Incorporated (or any other registered broker-dealer
wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following
the date of this Agreement), in its capacity as sole lead arranger and sole bookrunner. 
 “Assignment and Assumption”
means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially
the form of Exhibit E-1 or any other form (including electronic documentation generated by use of an electronic platform) approved by the Administrative Agent. 

“Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized
amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease Obligation of any Person, the capitalized amount of the remaining lease or similar
payments under the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other agreement or instrument were accounted for as a
Capitalized Lease and (c) all Synthetic Debt of such Person. 
 “Audited Financial Statements” means the audited
consolidated balance sheet of Holdings and its Subsidiaries for the fiscal year ended December 31, 2018, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of Holdings
and its Subsidiaries, including the notes thereto. 
 “Auto-Reinstatement Letter of Credit” has the meaning specified in
Section 2.03(b). 
 “Availability Period” means the period from and including the Closing Date to
the earliest of (a) the Maturity Date, (b) the date of termination of the Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Revolving Credit Lender to make
Revolving Credit Loans and of the obligation of the L/C Issuers to make L/C Credit Extensions pursuant to Section 8.02. 

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

  
 4 

 “Bail-In Legislation” means, with
respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 
 “Bank of America” means Bank of America, N.A. and its
successors. 
 “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal
Funds Rate plus 1/2 of 1% (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”, and (c) the Eurodollar Rate for an Interest Period of one month plus
1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some
loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change. If the Base
Rate is being used as an alternate rate of interest pursuant to Section 3.03 hereof, then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause
(c) above. 
 “Base Rate Loan” means a Revolving Credit Loan that bears interest based on the Base Rate. 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial
Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of
ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of
the Code) the assets of any such “employee benefit plan” or “plan”. 
 “Board of Directors” means
(a) 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, (b) with respect to a partnership, the Board of Directors of the general partner of the
partnership, (c) with respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof or if not member-managed, the managers thereof or any committee of managing members or
managers thereof duly authorized to act on behalf of such Persons, and (d) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Investment Policy” means the Borrower’s investment policy provided to the Administrative Agent prior to the
Closing Date together with such amendments, supplements, modifications or replacements thereto as may be approved by the Required Lenders after the Closing Date (such approval not to be unreasonably withheld or delayed). 

  
 5 

 “Borrower Materials” has the meaning specified in
Section 6.02. 
 “Borrowing” means a Revolving Credit Borrowing or a Swing Line Borrowing, as the
context may require. 
 “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks
are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 

“Capitalized Lease” means any lease that has been or is required to be, in accordance with GAAP, recorded, classified and
accounted for as a capitalized lease or financing lease. 
 “Cash Collateral Account” means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America (or another commercial bank selected in compliance with Section 2.03(o)) in the name of the
Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent. 

“Cash Collateralize” means to deposit in a Controlled Account or pledge and deposit with or deliver to the Administrative
Agent, for the benefit of one or more of the L/C Issuers or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of Lenders to fund participations in respect
of L/C Obligations or Swing Line Loans (as the context may require), cash or deposit account balances or, if the Administrative Agent, the L/C Issuers or Swing Line Lender shall agree in their sole discretion, other credit support, in each case
pursuant to documentation in form and substance reasonably satisfactory to (a) the Administrative Agent and (b) the L/C Issuers or the Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such Cash Collateral and other credit support. 
 “Cash Equivalents” means any
of the following types of Investments, to the extent owned by the Borrower or any of its Subsidiaries free and clear of all Liens (other than Liens created under the Collateral Documents): 

(a)    readily marketable obligations issued or directly and fully guaranteed or insured by the United
States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America is pledged in support thereof; 

(b)    time deposits with, or insured certificates of deposit or bankers’ acceptances of, any
commercial bank that (i) (A) is a Lender or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the
laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of this
definition and (iii) has combined capital and surplus of at least $250,000,000, in each case with maturities of not more than one (1) year from the date of acquisition thereof; 

  
 6 

 (c)    commercial paper issued by any Person organized
under the laws of any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least
“A-1” (or the then equivalent grade) by S&P, in each case with maturities of not more than two hundred seventy (270) days from the date of acquisition thereof; 

(d)    Investments, classified in accordance with GAAP as current assets of the Borrower or any of its
Subsidiaries, in money market investment programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from either Moody’s or S&P, and the portfolios
of which are limited solely to Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition; and 

(e)    Investments made pursuant to the Borrower Investment Policy. 

“Cash Management Agreement” means any agreement to provide cash management services, including treasury, depository,
overdraft, credit or debit card, electronic funds transfer and other cash management arrangements. 
 “Cash Management
Bank” means any Person that, at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement. 

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980. 

“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the
U.S. Environmental Protection Agency. 
 “CFC” means a Person that is a controlled foreign corporation under
Section 957 of the Code. 
 “CFC Holdco” means a Person that has no direct or indirect material assets other than
Equity Interests in, or indebtedness of, one or more CFCs. 
 “Change in Law” means the occurrence, after the date of this
Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of Law) by any Governmental Authority; provided that notwithstanding anything herein to the
contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith or in the implementation thereof and (ii) all requests, rules,
guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel
III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented. 

  
 7 

 “Change of Control” means an event or series of events by which: any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its
capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after
the passage of time (such right, an “option right”)), directly or indirectly, of thirty-five percent (35%) or more of the Equity Interests of Holdings entitled to vote for members of the Board of Directors of Holdings on a fully-diluted
basis (and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any option right). 

“Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or
waived in accordance with Section 11.01, which date is March 22, 2019. 
 “Code” means the
Internal Revenue Code of 1986, as amended. 
 “Collateral” means all of the “Collateral” or other similar
term referred to in the Collateral Documents and all of the other property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties. For the
avoidance of doubt, Collateral shall not include any Excluded Property. 
 “Collateral Account” has the meaning specified
in Section 2.03(o). 
 “Collateral Documents” means, collectively, the Security Agreement, the
Intellectual Property Security Agreements, the UK Security Document, each of the collateral assignments, Security Agreement Supplements, security agreements, pledge agreements or other similar agreements delivered to the Administrative Agent
pursuant to Section 6.12, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of the Secured Parties. 

“Commitment” means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the
Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the
amount set forth opposite such Lender’s name on Schedule 2.01A under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption 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. 
 “Commitment Fee” has the
meaning specified in Section 2.09. 
 “Committed Loan Notice” means a notice of (a) a
Revolving Credit Borrowing, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit
A or such other form as may be approved by the Administrative Agent, including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent, appropriately completed and signed by a
Responsible Officer of the Borrower. 

  
 8 

 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. §
1 et seq.), as amended from time to time, and any successor statute. 
 “Competitor” has the meaning specified in
the definition of “Disqualified Institution”. 
 “Compliance Certificate” means a certificate substantially in
the form of Exhibit D. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net
income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated EBITDA” shall mean, for
any period, for Holdings and its Subsidiaries on a consolidated basis, an amount equal to (a) the sum of: 

(i)    Consolidated Net Income, 

(ii)    Consolidated Interest Expense, 

(iii)    provisions for taxes based on income (including any franchise taxes or other taxes based on income, profits or
capital), 
 (iv)    total depreciation expense, 

(v)    total amortization expense, 

(vi)    the amount of any restructuring and similar charges, severance costs, lease termination costs, retention,
recruiting and relocation costs, integration and other business optimization expenses, signing costs, retention or completion bonuses, stock-option or equity-based compensation expenses, transition costs, costs related to the closure or
consolidation of facilities, future lease commitments and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of pension liabilities), including, without limitation, any one-time expense relating to enhanced accounting function or other transaction costs, not to exceed 10% of Consolidated EBITDA as calculated after giving effect to this clause (vi), 

(vii)    fees, costs and expenses incurred in connection with the closing and initial funding of this Agreement (and any
subsequent amendment or waiver relating thereto), 
 (viii)    costs, fees, charges or expenses in connection with any
Permitted Acquisition, provided that all of such costs, fees, charges, or expenses with respect to Permitted Acquisitions that are not consummated shall not exceed $2,000,000 (or such other amount acceptable to the Administrative Agent in its sole
discretion) for the twelve (12) month period ended as of the applicable date of determination, 

  
 9 

 (ix)    other non-cash items
reducing Consolidated Net Income (including stock-based compensation expense) (excluding any such non-cash item to the extent that it represents an accrual or reserve for potential cash items in any future
period or amortization of a prepaid cash item that was paid in a prior period), 
 (x)    extraordinary, non-recurring losses, 
 (xi)    the aggregate amount of all payments funded from the
earnings of the Borrower and its Subsidiaries and made during such period in connection with any Permitted Acquisition, including, without limitation, indemnity payments, working capital and purchase price adjustments, earn outs or other contingent
payments and Deferred Payment Obligations, 
 (xii)    effects of purchase accounting, 

(xiii)    effects of changes in accounting principles, 

(xiv)    unrealized losses attributable to application of
mark-to-market accounting for hedging and similar obligations, and 

(xv)    pro forma adjustments to Consolidated EBITDA reflecting any non-recurring
costs, integration costs, and any extraordinary expenses, any synergies, cost savings, operating expense reductions or other operating improvements (in each case, net of amounts actually realized) in connection with any Permitted Acquisitions that
are reasonably identifiable and factually supportable and which are projected by the Borrower in good faith to result from actions that have been taken or are expected to be taken within 18 months after such Permitted Acquisition and otherwise
calculated on a basis consistent with GAAP and Regulation S-X of the Securities Exchange Act of 1934, as amended, not to exceed 10% of Consolidated EBITDA as calculated after giving effect to this clause
(xv), 
 minus, (b) the sum, without duplication of: 

(i)    other non-cash items increasing consolidated net income for such period
(excluding any such non-cash item to the extent it represents the reversal of an accrual or reserve for potential cash item in any prior period), 

(ii)    interest income, 

(iii)    cash non-operating gains to the extent such amount increased consolidated
net income for such period, and 
 (iv)    any software development costs to the extent capitalized during such period
in each case, for such period and determined on a consolidated basis in accordance with GAAP. 
 Notwithstanding the foregoing, for purposes
of determining Consolidated EBITDA for any Measurement Period which includes: (a) the fiscal quarter ending June 30, 2018, Consolidated EBITDA for such fiscal quarter shall be equal to $17,046,000; (b) the fiscal quarter ending
September 30, 2018, Consolidated EBITDA for such fiscal quarter shall be equal to $18,188,000; and (c) the fiscal quarter ending December 31, 2018, Consolidated EBITDA for such fiscal quarter shall be $26,692,000. 

  
 10 

 “Consolidated Interest Charges” means, for any Measurement Period, total
interest expense (including that portion of any Capitalized Lease that is treated as interest in accordance with GAAP) of Holdings and its consolidated Subsidiaries for such period with respect to all outstanding Indebtedness of such Persons
(including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Contracts in respect of interest rates to the extent such net costs are
allocable, in each case, of or by Holdings and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period in accordance with GAAP). 

“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA to
(b) Consolidated Interest Charges, in each case, of or by Holdings and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period. 

“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Funded Indebtedness of Holdings
and its Subsidiaries minus no more than $20,000,000 in unrestricted cash and Cash Equivalents of Holdings and its Subsidiaries, as of such date, to (b) Consolidated EBITDA for the Measurement Period then ending. 

“Consolidated Net Income” means, for any Measurement Period, the consolidated net income (or loss) of Holdings and its
consolidated Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from the calculation of “Consolidated Net Income” (a) the income (or deficit) of any such Person accrued
prior to the date it becomes a Subsidiary of Holdings or is merged into or consolidated with Holdings or one of its Subsidiaries, (b) the income (or deficit) of any such Person (other than a Subsidiary of Holdings) in which Holdings or one of
its Subsidiaries has an ownership interest, except to the extent that any such income is actually received by Holdings or such Subsidiary in the form of dividends or similar distributions, and (c) the undistributed earnings of any Subsidiary of
Holdings to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or any Applicable Law to
such Subsidiary or any owner of Equity Interests of such Subsidiary. 
 “Contractual Obligation” means, as to any Person,
any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

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

  
 11 

 “Controlled Account” means each deposit account and securities account that
is subject to an account control agreement in form and substance reasonably satisfactory to the Administrative Agent. 
 “Credit
Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 
 “Debtor Relief
Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor
relief Laws of the United States or other applicable jurisdictions from time to time in effect. 
 “Default” means any
event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

“Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal
to (i) the Base Rate plus (ii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise
applicable to such Loan plus 2% per annum and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum. 

“Defaulting Lender” means, subject to Section 2.16(b), any Lender that (a) has failed to
(i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of
such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay
to the Administrative Agent, any L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swing Line Loans) within two Business Days
of the date when due, (b) has notified the Borrower, the Administrative Agent, any L/C Issuer or the Swing Line Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that
effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition
precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the
Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law,
(ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit
Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become the subject of a Bail-In 

  
 12 

 
Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on
its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under
any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.16(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower, each L/C Issuer, the Swing
Line Lender and each other Lender promptly following such determination. 
 “Deferred Payment Obligations” has the meaning
specified in Section 7.02(n). 
 “Delaware Divided LLC” means any Delaware LLC which has been
formed upon consummation of a Delaware LLC Division. 
 “Delaware LLC” means any limited liability company organized or
formed under the laws of the State of Delaware. 
 “Delaware LLC Division” means the statutory division of any Delaware LLC
into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act. 

“Designated Jurisdiction” means any country, region or territory to the extent that such country, territory or region itself
is the subject of any Sanction. 
 “Disposition” or “Dispose” means the sale, transfer, license, lease or
other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without
recourse, of any notes or accounts receivable or any rights and claims associated therewith and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division. 

“Disqualified Institution” means, on any date, (a) any Person set forth on Schedule 11.06, (b) any other Person
that is a competitor of the Borrower or any of its Subsidiaries, which Person has been designated by the Borrower as a “Disqualified Institution” by written notice to the Administrative Agent and the Lenders (by posting such notice to the
Platform) not less than 2 Business Days prior to such date (any such Person described in clauses (a) or (b), a “Competitor”), and (c) any Affiliate of any Competitor that (i) has been identified by legal name in
writing to the Administrative Agent, or (ii) is obviously an Affiliate of such Competitor based solely on the similarity of such Affiliate’s legal name to the legal name of such Competitor; provided that “Disqualified
Institutions” shall exclude any Person that the Borrower has designated as no longer being a “Disqualified Institution” by written notice delivered to the Administrative Agent and the Lenders from time to time. 

  
 13 

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

 “Domestic Subsidiary” means any Subsidiary of any Loan Party organized under the laws of any jurisdiction within the
United States. 
 “DQ List” has the meaning specified in Section 11.06(g)(iv). 

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

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

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

“Eligible Assignee” means any Person that meets the requirements to be an assignee under
Section 11.06(b)(iii) and (v) (in each case, subject to such consents, if any, as may be required under Section 11.06(b)(iii)). For the avoidance of doubt, no Disqualified Institution shall
be an Eligible Assignee. 
 “Environment” means ambient air, indoor air, surface water, groundwater, drinking water, soil,
surface and subsurface strata, and natural resources such as wetland, flora and fauna. 
 “Environmental Laws” means any
and all Federal, state and local statutes, laws (including common law), regulations, standards, ordinances, rules, judgments, interpretations, orders, decrees, permits, agreements or governmental restrictions relating to pollution or the protection
of the Environment or human health (to the extent related to exposure to hazardous materials), including those relating to the manufacture, generation, handling, transport, storage, treatment, Release or threat of Release of Hazardous Materials, air
emissions and discharges to waste or public systems. 
 “Environmental Permit” means any permit, certification,
registration, approval, identification number, license or other authorization required under any Environmental Law. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities) whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law, directly or indirectly relating to (a) any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) Release or threatened Release of any Hazardous Materials or (e) any
contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

  
 14 

 “Equity Interests” means, with respect to any Person, all of the shares of
capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such
Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other
interests are outstanding on any date of determination; provided that, for the avoidance of doubt, Permitted Convertible Indebtedness shall not be considered “Equity Interests”. 

“ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated
as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or
condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; (g) the determination that any
Pension Plan is considered an at-risk plan or notification that a Multiemployer Plan is in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305
of ERISA; (h) the imposition of any material liability under Title I or Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate; or (i) a failure by
the Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not waived, or the failure by the Borrower or any ERISA Affiliate to make any required contribution to a
Multiemployer Plan. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Eurodollar Rate” means: 

(a)    for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank
Offered Rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a period 

  
 15 

 
equal in length to such Interest Period) (“LIBOR”) as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be
designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with
a term equivalent to such Interest Period; 
 (b)    for any interest calculation with respect to a Base Rate Loan on
any date, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; and 

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

“Eurodollar Rate Loan” means a Revolving Credit Loan that bears interest at a rate based on clause (a) of the definition
of the Eurodollar Rate. 
 “Event of Default” has the meaning specified in Section 8.01. 

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

“Excluded Subsidiary” means (a) Subsidiaries which are not Material Subsidiaries, (b) any Subsidiary that is
prohibited or restricted by applicable law, rule or regulation or by contractual obligation (including, for the avoidance of doubt, in the case of a joint venture, its operating agreement or other organizational document) from guaranteeing the
Obligations or which would require governmental consent or license to provide a guarantee unless such consent or license has been received, and with respect to contractual obligations, so long as in each case such contractual restrictions have not
been entered into in contemplation of such acquisition, (c) any CFC, (d) any subsidiary of a CFC, (e) any Foreign Subsidiary, (f) any CFC Holdco, (g) any Domestic Subsidiary that is a Subsidiary of a Foreign Subsidiary or
(h) any Subsidiary if the guaranty of the Obligations by such Subsidiary would be expected to result in an adverse tax consequence. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of
the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity
Exchange Act (determined after giving effect to any other “keepwell, support or other agreement” for the benefit of such Guarantor and any and all guarantees of such Guarantor’s Swap Obligations by other Loan Parties) at the time the
Guaranty of such Guarantor, or a grant by such Guarantor of a security interest, becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply
only to the portion of such Swap Obligation that is attributable to swaps for which such Guaranty or security interest is or becomes excluded in accordance with the first sentence of this definition. 

  
 16 

 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a
result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are
Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on
the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 11.13) or (ii) such Lender changes its Lending Office,
except in each case to the extent that, pursuant to Section 3.01, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender
immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(g) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 

“Existing Credit Agreement” means that certain Credit Agreement (as amended, restated amended and restated, supplemented or
otherwise modified from time to time prior to the Closing Date) dated as of September 15, 2015 among the Borrower, the other loan parties party thereto, SVB, as agent, and a syndicate of lenders. 

“Existing Letters of Credit” means the Letters of Credit described on Schedule 1.01 attached hereto. 

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

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

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

  
 17 

 “Fee Letter” means the letter agreement, dated February 9, 2019, among
the Borrower, the Administrative Agent and the Arranger. 
 “Foreign Lender” means (a) if the Borrower is a U.S.
Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of
this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means, in respect of any Loan Party, any Subsidiary of such Loan Party that is not a Domestic Subsidiary
of such Loan Party. 
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to any L/C Issuer, such Defaulting
Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders in accordance with the terms hereof. 
 “Fronting Fee” has the meaning assigned to such term
in Section 2.03(k). 
 “Fund” means any Person (other than a natural Person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“Funded Indebtedness” shall mean the aggregate principal amount of all third party indebtedness for borrowed money,
indebtedness evidenced by bonds, debentures and similar instruments, letters of credit (whether drawn or undrawn), Attributable Indebtedness in respect of Capitalized Leases, and purchase money indebtedness; provided, that Funded Indebtedness shall
not include (x) obligations under Swap Contracts entered into or (y) Deferred Payment Obligations except to the extent past due for more than five (5) Business Days. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governmental Approvals” means any notices or reports to be submitted to, or other filings to be made with, or any consents,
registrations, approvals, licenses, permits or authorizations to be obtained from, any Governmental Authority. 

  
 18 

 “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 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). 

“Group Member” means, collectively, Holdings, the Borrower and their respective Subsidiaries. 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person,
direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the
obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or
level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such
Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation
of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to
be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means, collectively, (a) Holdings, (b) Intermediate Holdings, (c) the Subsidiaries of Intermediate
Holdings listed on Schedule 6.12 and each other Subsidiary of Intermediate Holdings that has executed and delivered a guaranty or guaranty supplement pursuant to Section 6.12, and (d) with respect to
(i) Obligations owing by any Loan Party or any Subsidiary of a Loan Party (other than the Borrower) under any Secured Hedge Agreement or any Cash Management Agreement and (ii) the payment and performance by each Specified Loan Party of its
obligations under its Guaranty with respect to all Swap Obligations, the Borrower. For the avoidance of doubt, no Excluded Subsidiary shall be required to be a Guarantor. 

“Guaranty” means, collectively, the Guaranty made by the Guarantors in favor of the Secured Parties, substantially in the
form of Exhibit F, together with each other guaranty and guaranty supplement delivered pursuant to Section 6.12. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants including petroleum or petroleum 

  
 19 

 
distillates, natural gas, natural gas liquids, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, toxic mold, infectious or medical wastes and all other substances,
wastes, chemicals, pollutants, contaminants or compounds of any nature in any form regulated pursuant to any Environmental Law. 

“Hedge Bank” means any Person that, at the time it enters into a Swap Contract permitted under Article VI or
VII, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Contract. 
 “Holdings” means
Monotype Imaging Holdings Inc., a Delaware corporation. 
 “IFRS” means international accounting standards within the
meaning of IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements delivered under or referred to herein. 

“Impacted Loans” has the meaning assigned to such term in Section 3.03(a). 

“Increase Effective Date” has the meaning assigned to such term in Section 2.14. 

“Increase Joinder” has the meaning assigned to such term in Section 2.14(a)(viii). 

“Incremental Commitments” means the Incremental Revolving Commitments. 

“Incremental Revolving Commitment” has the meaning assigned to such term in Section 2.14. 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following: 

(a)    all obligations of such Person for borrowed money and all obligations of such Person evidenced by
bonds, debentures, notes, loan agreements or other similar instruments; 
 (b)    all direct or
contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c)    net obligations of such Person under any Swap Contract; 

(d)    all obligations of such Person to pay the deferred purchase price of property or services (other
than (i) trade accounts payable in the ordinary course of business and not past due for more than sixty (60) days, (ii) obligations of such Person in respect of operating leases and (iii) accrued expenses and deferred taxes incurred
by such Person and paid in the ordinary course of business (unless such accrued expenses or deferred taxes would be included as indebtedness or liabilities of such Person in accordance with GAAP)); 

  
 20 

 (e)    indebtedness (excluding prepaid interest thereon)
secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited
in recourse (with the amount of such Indebtedness deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the property encumbered thereby as determined by such Person in
good faith); 
 (f)    all Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease
Obligations of such Person and all Synthetic Debt of such Person; 
 (g)    all obligations of such
Person to purchase, redeem, retire, defease or otherwise make any cash payment in respect of any Equity Interest in such Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable
preferred interest, at its liquidation preference, in each case, which cash payment is or becomes (as a result of acceleration, a Change of Control, or otherwise) due on or prior to the date that is ninety-one
(91) days following the Maturity Date; and 
 (h)    all Guarantees of such Person in respect of any
of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint
venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made
non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 

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

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

“Intellectual Property Security Agreement” has the meaning specified in Section 4.01(a)(iv). 

“Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of each Interest Period applicable to
such Eurodollar Rate Loan and the Maturity Date of the Revolving Credit Facility under which such Loan was made; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that
fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan or Swing Line Loan, the last Business Day of each March, June, September and December and the Maturity
Date of the Revolving Credit Facility under which such Loan was made (with Swing Line Loans being deemed made under the Revolving Credit Facility for purposes of this definition). 

  
 21 

 “Interest Period” means, as to each Eurodollar Rate Loan, the period
commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months thereafter (in each case, subject to availability), as selected by the Borrower
in its Committed Loan Notice; provided that: 
 (i)    any Interest Period that would otherwise
end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(ii)    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 end on the last Business Day of the calendar month at the end of such Interest Period; and 

(iii)    no Interest Period shall extend beyond the Maturity Date. 

“Intermediate Holdings” means Imaging Holdings Corp., a Delaware corporation. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of
(a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another
Person, or (c) Acquisition. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. For the
avoidance of doubt, payments in respect of Permitted Convertible Indebtedness shall not be considered Investments for purposes of this Agreement. 

“IP Reporting Certificate” means a certificate substantially in the form of Exhibit H. 

“IP Rights” has the meaning specified in Section 5.17. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means the International Standby Practices, International Chamber of Commerce Publication No. 590 (or such later
version thereof as may be in effect at the applicable time). 
 “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 any L/C Issuer and the Borrower (or any Subsidiary) or in favor of such L/C Issuer and relating to such Letter of Credit. 

“Judgment Currency” has the meaning specified in Section 11.20. 

“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,

  
 22 

 
and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having
the force of law. 
 “L/C Advance” means, with respect to each Revolving Credit Lender, such Lender’s funding of its
participation in any L/C Disbursement in accordance with its Applicable Percentage. 
 “L/C Commitment” means, with respect
to each L/C Issuer, the commitment of such L/C Issuer to issue Letters of Credit hereunder. The initial amount of each L/C Issuer’s L/C Commitment is set forth on Schedule 2.01C, or if an L/C Issuer has entered into an Assignment and
Assumption or has otherwise assumed a L/C Commitment after the Closing Date, the amount set forth for such L/C Issuer as its L/C Commitment in the Register maintained by the Administrative Agent. The L/C Commitment of an L/C Issuer may be modified
from time to time by agreement between such L/C Issuer and the Borrower, and notified to the Administrative Agent. 
 “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 Disbursement” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as a Revolving Credit Borrowing. 
 “L/C Issuer” means each of (a) Bank
of America, or any successor issuer thereof, (b) solely to the extent that any L/C Obligations with respect to Existing Letters of Credit or amendments thereto are outstanding, SVB, or any successor issuer thereof, (c) such other Lender
selected by the Borrower pursuant to Section 2.03(n) from time to time to issue Letters of Credit (provided that no Lender shall be required to become an L/C Issuer pursuant to this subclause (c) without such
Lender’s consent), or any successor issuer thereof or (d) any Lender selected by the Borrower (with the prior consent of the Administrative Agent) to replace a Lender who is a Defaulting Lender at the time of such Lender’s appointment
as an L/C Issuer (provided that no Lender shall be required to become an L/C Issuer pursuant to this subclause (d) without such Lender’s consent), or any successor issuer thereof, in each case, in their respective capacities as an
issuer of Letters of Credit hereunder. References herein to “L/C Issuer” or “the L/C Issuer” shall mean, as applicable, and as the context may require (as reasonably determined by Administrative Agent), each L/C Issuer, each
applicable or relevant L/C Issuer with respect to any Letter of Credit and/or all L/C Issuers with respect to all Letters of Credit. 

“L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding
Letters of Credit plus the aggregate amount of all Unreimbursed Amounts, including all L/C Disbursements. 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 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the
operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

  
 23 

 “LCA Elections” has the meaning specified in
Section 1.09. 
 “Lender” has the meaning specified in the introductory paragraph hereto and, as
the context requires, includes the Swing Line Lender. 
 “Lending Office” means, as to any Lender, the office or offices of
such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent in writing, which office may include any Affiliate
of such Lender or any domestic or foreign branch of such Lender or such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Letter of Credit” means any letter of credit issued hereunder, providing for the payment of cash upon the honoring of a
presentation thereunder. 
 “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 applicable L/C Issuer. 
 “Letter of Credit Fee” has the
meaning specified in Section 2.03(j). 
 “Letter of Credit Sublimit” means an amount equal to
$15,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility. 
 “LIBOR”
has the meaning specified in the definition of Eurodollar Rate. 
 “LIBOR Screen Rate” means the LIBOR quote on the
applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). 

“LIBOR Successor Rate” has the meaning specified in Section 3.03(c). 

“LIBOR Successor Rate Conforming Changes” has the meaning specified in Section 3.03(c). 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, easement, right-of-way or other encumbrance on title to real property, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement
in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having
substantially the same economic effect as any of the foregoing). 
 “Limited Condition Transaction” means, with respect to
any acquisition, Investment, or Restricted Payment whose consummation is not conditioned on the availability of, or obtaining, third party financing, and which is designated as a Limited Condition Transaction by a Loan Party in writing to the
Administrative Agent on or prior to the date the definitive agreement for such acquisition or investment is executed. 

  
 24 

 “Loan” means an extension of credit by a Lender to the Borrower under
Article II in the form of a Revolving Credit Loan or a Swing Line Loan. 
 “Loan Documents” means this Agreement,
including schedules and exhibits hereto, each Note, each Issuer Document, any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.16 of this Agreement, the Guaranty, the
Collateral Documents, the Perfection Certificate, and any amendments, modifications or supplements hereto or to any other Loan Document or waivers hereof or to any other Loan Document. 

“Loan Parties” means, collectively, the Borrower and each Guarantor. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Material Adverse Effect” means a material adverse change in, or a material adverse effect
upon, (A) the operations, business, or financial condition of the Loan Parties and their Subsidiaries taken as a whole; (B) the rights and remedies of the Administrative Agent and the Lenders related to payment or collection of Obligations
or realization upon a material portion of the Collateral under the Loan Documents or the ability of any Loan Party to perform any of its obligations under the Loan Documents to which it is a party; and (C) the legality, validity, binding effect
or enforceability against any Loan Party of any material provision of any Loan Document to which it is a party (in each case, other than as a result of any action or inaction by the Administrative Agent). 

“Material Subsidiary” means, as of any date of determination, any Subsidiary that, as of the last Measurement Period (or, in
the case of any such determination to be made prior to the delivery of financial statements for the fiscal quarter of Holdings ended March 31, 2019, determined as of the last day of the four consecutive fiscal quarters of Holdings ended
December 31, 2018), (i) individually (x) owns assets with a fair market value in excess of 7.5% of the consolidated assets of Holdings and its Subsidiaries or (y) accounted for more than 7.5% of Consolidated EBITDA of Holdings and its
Subsidiaries or (ii) collectively with all other Subsidiaries that are not Material Subsidiaries (x) owns assets with a fair market value in excess of 15% of the consolidated assets of Holdings and its Subsidiaries or (y) accounted
for more than 15% of Consolidated EBITDA of Holdings and its Subsidiaries. 
 “Maturity Date” means March 22, 2024;
provided, however, that, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. 

“Maximum Rate” has the meaning specified in Section 11.09. 

“Measurement Period” means, at any date of determination, the most recently completed four fiscal quarters of Holdings or, if
fewer than four consecutive fiscal quarters of Holdings have been completed since the Closing Date, the fiscal quarters of Holdings that have been completed since the Closing Date; provided that for purposes of determining an amount of any
item included in the calculation of a financial ratio or financial covenant (other than for 

  
 25 

 
determining Consolidated EBITDA) (a) for the fiscal quarter ended March 31, 2019, such amount for the Measurement Period then ended shall equal such item for such fiscal quarter
multiplied by four; (b) for the fiscal quarter ended June 30, 2019, such amount for the Measurement Period then ended shall equal such item for the two fiscal quarters then ended multiplied by two; and (c) for the fiscal
quarter ended September 30, 2019, such amount for the Measurement Period then ended shall equal such item for the three fiscal quarters then ended multiplied by 4/3. 

“Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit
account balances, an amount equal to 103% of the Fronting Exposure of all L/C Issuers with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Administrative Agent and the L/C Issuers
in their sole discretion. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. (but, in the case of such a plan to which the Borrower or any ERISA Affiliate no
longer makes or is obligated to make contributions, only if the Borrower has any outstanding liability (including contingent liability, on account of an ERISA Affiliate or otherwise) but, in the case of such a plan to which the Borrower or any ERISA
Affiliate no longer makes or is obligated to make contributions, only if the Borrower has any outstanding liability (including contingent liability, on account of an ERISA Affiliate or otherwise)). 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including the Borrower or any ERISA
Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 
 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Lenders or all affected Lenders in accordance with the terms of
Section 11.01 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-Reinstatement Deadline” has the meaning specified in
Section 2.03(b). 
 “Note” means a Revolving Credit Note. 

“Notice of Loan Prepayment” means a notice of prepayment with respect to a Loan, which shall be substantially in the form of
Exhibit O or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed
by a Responsible Officer. 
 “NPL” means the National Priorities List under CERCLA. 

  
 26 

 “Obligations” means all advances to, and debts, liabilities, obligations,
covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, in each case whether direct or indirect (including those
acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws
naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding; provided that, without limiting the foregoing, the Obligations include (a) the obligation to pay principal,
interest, Letter of Credit commissions, charges, expenses, fees, indemnities and other amounts payable by any Loan Party under any Loan Document and (b) the obligation of the Loan Parties to reimburse any amount in respect of any of the
foregoing that the Administrative Agent or any Lender may elect to pay or advance on behalf of the Loan Parties in accordance with the terms of this Agreement or any other Loan Document; provided further that the Obligations shall exclude any
Excluded Swap Obligations. 
 “OFAC” means the Office of Foreign Assets Control of the United States Department of the
Treasury. 
 “Organization Documents” means, (a) with respect to any corporation, the charter or certificate or
articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or
articles of formation or organization and operating or limited liability company agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable
agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or organization of such entity. 
 “Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed,
delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in
any Loan or Loan Documents). 
 “Other Taxes” means all present or future stamp, court or documentary, intangible,
recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to any Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

“Outstanding Amount” means (a) with respect to Revolving Credit Loans and Swing Line Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Revolving Credit Loans and Swing Line 

  
 27 

 
Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the 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 the Borrower of Unreimbursed Amounts. 

“Participant” has the meaning specified in Section 11.06(d). 

“Participant Register” has the meaning specified in Section 11.06(d). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum funding standards with respect to Pension
Plans and set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (excluding a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by the Borrower or with respect to which the Borrower has or could reasonably be expected to
have any liability (including by reason of being an ERISA Affiliate with any other person) any liability and which is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 

“Perfection Certificate” means the certificate delivered to the Administrative Agent on the Closing Date in substantially the
form of Exhibit I. 
 “Permitted Acquisition” has the meaning specified in
Section 7.03(g). 
 “Permitted Bond Hedge Transaction” means any call or capped call option on
the Equity Interests of Holdings purchased by a Loan Party from a leading dealer in the relevant market (the “Hedge Provider”) in connection with the issuance of any Permitted Convertible Indebtedness; provided that the purchase
price for such Permitted Bond Hedge Transaction, less the proceeds received by the Loan Parties from the sale of any related Permitted Warrant Transaction, does not exceed the net proceeds received by the Loan Parties from the sale of such Permitted
Convertible Indebtedness issued in connection with the Permitted Bond Hedge Transaction; provided, further, that such call option is a Swap Contract and will be entered into between the applicable Loan Party and the Hedge Provider under an
ISDA Master Agreement and there shall be no Credit Support Annex, Credit Support Documentation, Credit Support Provider, security, guaranty or other credit support with respect thereto, in each case provided by Holdings or the Borrower;
provided, further, that immediately before and after giving pro forma effect to the purchase of such call option and any concurrent use of proceeds thereof, no Default or Event of Default shall have occurred and be continuing hereunder. 

“Permitted Convertible Indebtedness” means Indebtedness that (a) is either (i) a debt security issued by a Loan
Party which is convertible into Equity Interests of Holdings (and cash in lieu of fractional shares) and/or cash (in an amount determined by reference to the price of such Equity Interests) or (ii) sold as units with call options, warrants or
rights to purchase (or substantially equivalent derivative transactions) that are exercisable for Equity Interests of 

  
 28 

 
Holdings and/or cash (in an amount determined by reference to the price of such Equity Interests); (b) is unsecured; (c) will not have a stated maturity prior to the date that is six
(6) months following the Maturity Date; (d) has no scheduled amortization or principal payments or requires any mandatory redemptions or payments of principal prior to the date that is six (6) months following the Maturity Date other
than customary payments upon a change of control or fundamental change event (it being understood that conversion of any such Indebtedness shall not be considered a redemption or payment); and (e) immediately before and after giving pro forma
effect to the incurrence of such Indebtedness and any concurrent use of proceeds thereof, no Event of Default shall have occurred and be continuing. 

“Permitted Option Premium” means, in respect of a Permitted Structured Repurchase Transaction which is a call or a capped
call option on the Equity Interests of Holdings purchased by a Loan Party from a Hedge Provider in connection with the issuance of any Permitted Convertible Indebtedness, the premium paid by such Loan Party to such Hedge Provider to purchase such
option; provided that such option is purchased within sixty (60) days of the issuance of such Permitted Convertible Indebtedness. 

“Permitted Refinancing Indebtedness” means Indebtedness of any Person (“Refinancing Indebtedness”) issued or
incurred by such Person (including by means of the extension or renewal of existing Indebtedness) to refinance, refund, extend, renew or replace existing Indebtedness of such Person (“Refinanced Indebtedness”); provided that
(a) the principal amount of such Refinancing Indebtedness is not greater than the principal amount of such Refinanced Indebtedness plus the amount of any premiums or penalties and accrued and unpaid interest paid thereon and reasonable
fees and expenses, in each case associated with such Refinancing Indebtedness, (b) such Refinancing Indebtedness has a final maturity that is no sooner than, and a weighted average life to maturity that is no shorter than, such Refinanced
Indebtedness, (c) if such Refinanced Indebtedness or any Guarantee thereof or any security therefor are subordinated to the Obligations, such Refinancing Indebtedness and any Guarantee thereof and any security therefor remain so subordinated on
terms no less favorable to the Lenders and the other Secured Parties, (d) the obligors in respect of such Refinanced Indebtedness immediately prior to such refinancing, refunding extension, renewal or replacement are the only obligors on such
Refinancing Indebtedness and (e) any Guarantee which constitutes all or a portion of such Refinancing Indebtedness, taken as a whole, are determined in good faith by a Responsible Officer of such Person to be no less favorable to such Person
and the Lenders and the other Secured Parties in any material respect than the covenants and events of default or Guarantee, if any, applicable to such Refinanced Indebtedness. 

“Permitted Structured Repurchase Transaction” means any forward purchase or accelerated share repurchase transaction relating
to the Equity Interests of Holdings for which a Loan Party is the purchaser, a call or capped call option relating to the Equity Interests of Holdings purchased by a Loan Party, and/or a put or put spread option relating to the Equity Interests of
Holdings sold by a Loan Party and/or any other structured equity repurchase transaction similar to any of the foregoing presented to the Administrative Agent by a Loan Party and to which the Administrative Agent and the Required Lenders have
consented, in each case, entered into with a leading dealer in the market in respect of such transactions (each, a “Structured Repurchase Dealer”); provided that the aggregate amount of any premium(s), prepayment amount (s), strike
price(s) or other applicable purchase price, costs, expenses or any 

  
 29 

 
other payments (whether absolute or contingent) for such Permitted Structured Repurchase Transaction, at the time of entry into such Permitted Structured Repurchase Transaction, does not, and,
during the term of this Agreement, will not, exceed the amount permitted to be paid by such Loan Party in respect of repurchases of the Equity Interests of Holdings pursuant to Section 7.06; provided, further, that such
transaction is a Swap Contract and will be entered into between the applicable Loan Party and a Structured Repurchase Dealer under an ISDA Master Agreement and there shall be no Credit Support Annex, Credit Support Document, Credit Support Provider,
security, guaranty or other credit support with respect thereto, in each case provided by Holdings, the Borrower or any of their respective Affiliates; provided, further, that immediately before and after giving pro forma effect to the entry
into such Permitted Structured Repurchase Transaction, and any concurrent use of proceeds thereof, no Default or Event of Default shall have occurred and be continuing hereunder. 

“Permitted Warrant Transaction” means any call option, warrant or contractual right to purchase Holdings’ Equity
Interests sold by a Loan Party to the Hedge Provider substantially concurrently with any purchase by a Loan Party of a related Permitted Bond Hedge Transaction from the Hedge Provider for which the strike price (or the analogous term defined
therein) is greater than the strike price (or the analogous term defined therein) for the Permitted Bond Hedge Transaction; provided that such call option, warrant or contractual right will be entered into between the applicable Loan Party
and the Hedge Provider under an ISDA Master Agreement and there shall be no Credit Support Annex, Credit Support Documentation, Credit Support Provider, security, guaranty or other credit support with respect thereto, in each case, provided by
Holdings or the Borrower; provided, further that immediately before and after giving pro forma effect to the sale of such call option, warrant or contractual right and any concurrent provisions of proceeds thereof, no Default or Event of
Default shall have occurred and be continuing hereunder. 
 “Person” means any natural person, corporation, limited
liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan),
maintained for employees of the Borrower or any such Plan to which the Borrower is required to contribute on behalf of any of its employees. 

“Platform” has the meaning specified in Section 6.02. 

“Pro Forma Basis” means, that in the calculation of (a) any financial ratio or test hereunder, or (b) the financial
covenant set forth in Section 7.11, in connection with any transaction described in Section 1.03(c) (including the incurrence of any Indebtedness in connection therewith), such transaction shall be
deemed to have occurred as of the first day of the most recent four fiscal quarter period preceding the date of such transaction for which financial statements were required to be delivered pursuant to Section 6.01(a) or
Section 6.01(b). In connection with the foregoing, (i) with respect to any such Disposition, (A) income statement and cash flow statement items (whether positive or negative) attributable to the property disposed
of shall be excluded, and (B) Indebtedness which is retired or repaid shall be excluded and deemed to have been retired as of the first day of the applicable period, (ii) with respect to any Acquisition, (A) income statement and cash
flow statement items attributable to the Person 

  
 30 

 
or property acquired shall be included to the extent (1) such items are not otherwise included in such income statement and cash flow statement items for Holdings and its Subsidiaries in
accordance with GAAP or in accordance with any defined terms set forth in Section 1.01, and (2) such items are supported by financial statements or other information reasonably relied upon by Holdings, and (B) any
Indebtedness incurred or assumed by Holdings or any Subsidiary (including the Person or property acquired) in connection with such transaction and any Indebtedness of the Person or property acquired which is not retired in connection with such
transaction (1) shall be deemed to have been incurred as of the first day of the applicable period, and (2) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes
of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination, and (iii) with respect to the incurrence of any Indebtedness, (A) such
Indebtedness shall be deemed to have been incurred as of the first day of the applicable period, and (B) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this
definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination. 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be
amended from time to time. 
 “Public Lender” has the meaning specified in Section 6.02. 

“Qualified Acquisition” means an Acquisition (or series of related Acquisitions consummated in any six month period) with
aggregate consideration of at least $35,000,000; provided, that, for any such Acquisition or series of related Acquisitions to qualify as a Qualified Acquisition, a Responsible Officer of the Borrower shall have delivered to the Administrative Agent
a certificate certifying that the Acquisition or series of related Acquisitions meet the criteria for a Qualified Acquisition and notifying the Administrative Agent that the Borrower has elected to treat such Acquisition or series of related
Acquisitions as a Qualified Acquisition. 
 “Recipient” means the Administrative Agent, any Lender or any L/C Issuer. 

“Register” has the meaning specified in Section 11.06(c). 

“Regulation U” means Regulation U of the FRB, as in effect from time to time and all official rulings and interpretations
thereunder or thereof. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents, trustees, administrators, managers, advisors, consultants, service providers and representatives of such Person and of such Person’s Affiliates. 

“Release” means any release, spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying,
injection or leaching into the Environment, or into, from or through any building, structure or facility. 
 “Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the thirty (30) day notice period has been waived and events for which a safe harbor is available. 

  
 31 

 “Request for Credit Extension” means (a) with respect to a Borrowing,
conversion or continuation of Revolving Credit Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

“Required Lenders” means, at any time, Lenders holding more than 50% of the sum of the (a) Total Revolving Credit
Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this
definition) and (b) aggregate unused Commitments. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time; provided that the amount of any participation in any Swing Line Loan
and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or the applicable L/C Issuer, as the case
may be, in making such determination. 
 “Responsible Officer” means the chief executive officer, president, chief
financial officer, treasurer, assistant treasurer, controller or assistant controller of a Loan Party, solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any assistant
secretary of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer of the applicable Loan Party so designated by any Responsible Officer in a notice to the Administrative Agent or any other officer
or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be
conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to
any Equity Interest of any Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance,
acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s stockholders, partners or members (or the equivalent of any thereof), or any option, warrant or
other right to acquire any such dividend or other distribution or payment; provided that, for the avoidance of doubt, payments in respect of Permitted Convertible Indebtedness shall not be considered Restricted Payments for purposes of this
Agreement. 
 “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving Credit Loans of the same
Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01. 

“Revolving Credit Exposure” means, as to any Lender at any time, the aggregate principal amount at such time of its
outstanding Revolving Credit Loans and such Lender’s participation in L/C Obligations and Swing Line Loans at such time. 

  
 32 

 “Revolving Credit Facility” means, at any time, the aggregate amount of the
Revolving Credit Lenders’ Commitments at such time. 
 “Revolving Credit Lender” means, at any time, any Lender that
has a Commitment at such time. 
 “Revolving Credit Loan” has the meaning specified in
Section 2.01. 
 “Revolving Credit Note” means a promissory note made by the Borrower in favor of
a Revolving Credit Lender evidencing Revolving Credit Loans or Swing Line Loans, as the case may be, made by such Revolving Credit Lender, substantially in the form of Exhibit C-1. 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and any
successor thereto. 
 “Sanction(s)” means any sanction or trade embargo administered or enforced by the United States
Government (including without limitation, OFAC), the United Nations Security Council, the European Union, any European Union member state, Her Majesty’s Treasury (“HMT”) or other relevant sanctions authority. 

“Scheduled Unavailability Date” has the meaning specified in Section 3.03(c)(ii). 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Cash Management Agreement” means any Cash Management Agreement that is entered into by and between
any Loan Party or any Subsidiary of a Loan Party and any Cash Management Bank. 
 “Secured Hedge Agreement” means any Swap
Contract permitted under Article VI or VII that is entered into by and between any Loan Party or any Subsidiary of a Loan Party and any Hedge Bank. 

“Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C Issuers, the Hedge Banks, the Cash
Management Banks, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05, and the other
Persons the Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Collateral Documents. 

“Security Agreement” has the meaning specified in Section 4.01(a)(iii). 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such date
(a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the
amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in 

  
 33 

 
business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital, and (e) such Person
is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the
facts and circumstances existing at such time, represents the amount that would reasonably be expected to become an actual or matured liability. 

“Specified Event of Default” means an Event of Default under Section 8.01(a) or (f). 

“Specified Loan Party” means any Loan Party that is not an “eligible contract participant” under the Commodity
Exchange Act. 
 “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or
other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the
happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references
herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower or Holdings. 

“SVB” means Silicon Valley Bank. 

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

“Swap Obligations” means with respect to any Guarantor any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 
 “Swap
Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap
Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for 

  
 34 

 
any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for
such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate
of a Lender). 
 “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to
Section 2.04. 
 “Swing Line Commitment” means as to any Lender (a) the amount set forth
opposite such Lender’s name on Schedule 2.01B hereof or (b) if such Lender has entered into an Assignment and Assumption or has otherwise assumed a Swing Line Commitment after the Closing Date, the amount set forth for such Lender
as its Swing Line Commitment in the Register maintained by the Administrative Agent pursuant to Section 11.06(c). 

“Swing Line Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender
hereunder. 
 “Swing Line Loan” has the meaning specified in Section 2.04(a). 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b),
which shall be substantially in the form of Exhibit B or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative
Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 
 “Swing Line Sublimit” means an
amount equal to the lesser of (a) $20,000,000 and (b) the Revolving Credit Facility. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Facility. 

“Synthetic Debt” means, with respect to any Person as of any date of determination thereof, all obligations of such Person in
respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds but are not otherwise included in the definition of “Indebtedness” or as a liability on the consolidated balance
sheet of such Person and its Subsidiaries in accordance with GAAP. 
 “Synthetic Lease Obligation” means the monetary
obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property
(including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment). 
 “Tax Distribution” means any distribution made to
Holdings (or any direct or indirect parent company of Borrower) to (i) permit Holdings (or any other direct or indirect parent company of Borrower) to pay federal and state income taxes then due and owning by the consolidated, combined or
similar income tax group for U.S. federal and/or applicable state or local income tax purposes of which Holdings (or any other direct or indirect parent company of Borrower) is the common parent and of which Borrower or any Subsidiary of Holdings
are members, and (ii) pay any administrative, overhead and related expenses (including franchise Taxes) of Holdings (or any other direct or indirect parent company of Borrower). 

  
 35 

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

“Termination Date” means the date on which (a) the Commitments have expired or terminated, (b) all Loans and
Obligations hereunder have been paid in full (other than contingent indemnification obligations for which no claim or demand has been made and obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements as to
which arrangements reasonably satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made), and (c) all Letters of Credit have expired or have been terminated (or have been Cash Collateralized or back-stopped by a
letter of credit or otherwise in a manner reasonably satisfactory to the Administrative Agent and the applicable L/C Issuer). 

“Threshold Amount” means $15,000,000. 

“Total Credit Exposure” means, as to any Lender at any time, in respect of the Revolving Credit Facility, the unused
Commitments and Revolving Credit Exposure of such Lender at such time. 
 “Total Revolving Credit Outstandings” means the
aggregate Outstanding Amount of all Loans and L/C Obligations. 
 “Trade Date” has the meaning specified in
Section 11.06(g). 
 “Transactions” means, collectively, (a) the entering into by the Loan
Parties and their applicable Subsidiaries of the Loan Documents to which they are or are intended to be a party, (b) the refinancing of certain outstanding Indebtedness under the Existing Credit Agreement of the Borrower and its Subsidiaries
and the termination of all commitments with respect thereto, and (c) the payment of the fees and expenses incurred in connection with the consummation of the foregoing. 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York provided that, if perfection or the effect of
perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York,
“UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or
non-perfection or priority. 
 “UCP” means the Uniform Customs and Practice for
Documentary Credits, International Chamber of Commerce Publication No. 600 (or such later version thereof as may be in effect at the applicable time). 

  
 36 

 “UK Security Document” means that certain share charge by Borrower in favor
of the Administrative Agent dated as of the Closing Date, as amended, modified or supplemented from time to time, pursuant to which the Borrower has pledged certain existing and future shares in the UK Subsidiary to the Administrative Agent. 

“UK Subsidiary” means Monotype Limited, a company registered under the laws of England and Wales with company registration
number 02663485. 
 “United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning specified in Section 2.03(f). 

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 “U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(g)(ii)(B)(3). 

“Withholding Agent” means the Borrower and the Administrative Agent. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 
 1.02    Other Interpretive Provisions. With
reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a)    The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without
limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other
document (including any Organization Document) 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 or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “hereto,”
“herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof,
(iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan Document in
which such references appear, (v) 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, rule or regulation shall, unless
otherwise specified, refer to such law, rule or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

  
 37 

 (b)    In the computation of periods of time from a specified date to a
later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through”
means “to and including.” 
 (c)    Section headings herein and in the other Loan Documents are
included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 

(d)    Any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale,
disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if
it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, as applicable, to, of or with a separate Person. Any division of a limited liability company shall constitute a
separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person or entity). 

1.03    Accounting Terms. (a) Generally. All accounting terms not specifically or completely defined
herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent
basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining
compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the 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 and FASB ASC 470-20 on financial liabilities shall be disregarded. 

(b)    Changes in GAAP. If at any time any change in GAAP (including the adoption of IFRS) would affect the
computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent and the Borrower shall negotiate in good faith to amend such ratio or
requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (A) such ratio or requirement shall continue to be computed in
accordance with GAAP prior to such change therein and (B) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting
forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with
that reflected in the Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as
provided for above. 

  
 38 

 (c)    Calculations. Notwithstanding the above, the parties
hereto acknowledge and agree that all calculations of financial ratios and tests or the financial covenant in Section 7.11 (including for purposes of determining the Applicable Rate and/or Applicable Fee rate) for any
period shall be made on a Pro Forma Basis with respect to (i) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, occurring during such period, (ii) any Disposition of a line of
business or division of the Borrower or any Subsidiary occurring during such period, (iii) any Acquisition consummated in such period, and (iv) the incurrence of any Indebtedness (other than Indebtedness incurred under the Loan Documents)
in such period. 
 1.04    Rounding. Any financial ratios required to be maintained by the Borrower pursuant to
this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the
nearest number (with a rounding-up if there is no nearest number). 

1.05    Times of Day. Unless otherwise specified, all references herein to times of day shall be references to
Eastern time (daylight or standard, as applicable). 
 1.06    Letter of Credit Amounts. Unless otherwise
specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, 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 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. 
 1.07    Currency Equivalents
Generally. Any amount specified in this Agreement (other than in Articles II and IX) or any of the other Loan Documents to be in Dollars shall also include the equivalent of such amount in any currency other than Dollars, such
equivalent amount thereof in the applicable currency to be reasonably determined by the Administrative Agent at such time on the basis of the Spot Rate (as defined below) for the purchase of such currency with Dollars. For purposes of this
Section 1.07, the “Spot Rate” for a currency means the rate reasonably determined by the Administrative Agent 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 of such determination; provided that the Administrative Agent
may obtain such spot rate from another financial institution designated by the Administrative Agent if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency. 

1.08    Interest Rates. The Administrative Agent does not warrant, nor accept responsibility, nor shall the
Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable or successor rate thereto. 

  
 39 

 1.09    Limited Condition Transaction, Investments, and Restricted
Payments. Notwithstanding anything in this Agreement to the contrary, when (a) calculating any applicable ratio solely as it relates to a Permitted Acquisition, the making of an Investment, or the making of a Restricted Payment or
(b) determining compliance with any provision of this Agreement which requires that no Default or Event of Default has occurred, is continuing or would result therefrom, the date of determination of such ratio or determination of whether any
Default or Event of Default has occurred, is continuing or would result therefrom shall, at the option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Condition Transaction, an “LCA
Election”), be deemed to be the date the definitive agreements for such Limited Condition Transaction are entered into (the “LCA Test Date”). If on a pro forma basis after giving effect to such Limited Condition Transaction
and the other transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) such ratios and other provisions are calculated as if such Limited Condition Transaction or other
transactions had occurred at the beginning of the most recent Test Period ending prior to the LCA Test Date for which financial statements of Holdings were delivered (or were required to be delivered) pursuant to
Section 6.01(a) or (b), as applicable, the Loan Party could have taken such action on the relevant LCA Test Date in compliance with the applicable ratios or other provisions, such provisions shall be deemed to have
been complied with unless an Event of Default under Sections 8.01(a) or 8.01(f) shall be continuing at the time of the consummation of such Limited Condition Transaction. If the Borrower has made an LCA Election for any Limited
Condition Transaction, then in connection with any subsequent calculation of any ratio or availability on or following the relevant LCA Test Date and prior to the earlier of (i) the date on which such Limited Condition Transaction is
consummated or (ii) the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any such ratio or basket shall be calculated on a pro forma
basis assuming such Limited Condition Transaction and other transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) had been consummated on the LCA Test Date. Notwithstanding the foregoing,
unless otherwise agreed by each Lender, the Limited Condition Transaction provisions set forth above shall not apply in respect of any conditions precedent to the incurrence of any Loans the proceeds of which will be used to finance such Limited
Condition Transaction; provided, however, that the Borrower may use the proceeds of other Indebtedness permitted hereunder to finance such Limited Condition Transaction. 

ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01    The Loans. Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally
agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of
any Revolving Credit Lender shall not exceed such Revolving Credit Lender’s Commitment. Within the limits of each Revolving Credit Lender’s 

  
 40 

 
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05,
and reborrow under this Section 2.01. Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. 

2.02    Borrowings, Conversions and Continuations of Loans. (a) Each Revolving Credit Borrowing, each
conversion of Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone, or
(B) a Committed Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each such Committed Loan Notice must be received by the Administrative Agent not
later than 1:00 p.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the
requested date of any Borrowing of Base Rate Loans. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided
in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall specify (i) whether
the Borrower is requesting a Revolving Credit Borrowing, a conversion of Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the
case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Revolving Credit Loans are to be converted, and (v) if
applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the
applicable Revolving Credit Loans shall be made, converted to or continued as Eurodollar Rate Loans with an Interest Period of one (1) month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest
Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period,
it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan. 

(b)    Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the
amount of its Applicable Percentage of Revolving Credit Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any conversion or automatic
continuation of Eurodollar Rate Loans described in Section 2.02(a). In the case of a Revolving Credit Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in immediately
available funds at the Administrative Agent’s Office not later than 3:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in
Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by
the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of 

  
 41 

 
America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by
the Borrower; provided, however, that if, on the date a Committed Loan Notice with respect to a Revolving Credit Borrowing is given by the Borrower, there are L/C Disbursements outstanding, then the proceeds of such Revolving Credit
Borrowing, first, shall be applied to the payment in full of any such L/C Disbursements, and second, shall be made available to the Borrower as provided above. 

(c)    Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of
an Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders. 

(d)    The Administrative Agent shall promptly notify the Borrower and the Lenders in writing of the interest rate
applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest rate. 
 (e)    After
giving effect to all Revolving Credit Borrowings, all conversions of Revolving Credit Loans from one Type to the other, and all continuations of Revolving Credit Loans as the same Type, there shall not be more than 10 Interest Periods in effect in
respect of Eurodollar Rate Loans. 
 (f)    Notwithstanding anything to the contrary in this Agreement, any Lender may
exchange, continue or rollover all of the portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by
the Borrower, the Administrative Agent, and such Lender. 
 2.03    Letters of Credit. (a) The L/C
Commitment. (i) Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section 2.01, the Borrower may request that any L/C Issuer, in reliance on the agreements of the
Revolving Credit Lenders set forth in this Section 2.03, issue, at any time and from time to time during the Availability Period, Letters of Credit denominated in Dollars for its own account or the account of any of its
Subsidiaries in such form as is acceptable to the Administrative Agent and such L/C Issuer in its reasonable determination. Letters of Credit issued hereunder shall constitute utilization of the Commitments. 

(b)    Notice of Issuance, Amendment, Extension, Reinstatement or Renewal. To request the issuance of a Letter of
Credit (or the amendment of the terms and conditions, extension of the terms and conditions, extension of the expiration date, or reinstatement of amounts paid, or renewal of an outstanding Letter of Credit), the Borrower shall deliver (or transmit
by electronic communication, if arrangements for doing so have been approved by the applicable L/C Issuer) to an L/C Issuer selected by it and to 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 such 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 a notice requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, extended, 

  
 42 

 
reinstated or renewed, and specifying the date of issuance, amendment, extension, reinstatement or renewal (which shall be a Business Day), the date on which such Letter of Credit is to expire
(which shall comply with clause (d) of this Section 2.03), the amount of such Letter of Credit, the name and address of the beneficiary thereof, the purpose and nature of the requested Letter of Credit and such other
information as shall be necessary to prepare, amend, extend, reinstate or renew such Letter of Credit. If requested by the applicable L/C Issuer, the Borrower also shall submit a Letter of Credit Application and reimbursement agreement on such L/C
Issuer’s standard form in connection with any request for a Letter of Credit. 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 and
reimbursement agreement or other agreement submitted by the Borrower to, or entered into by the Borrower with, an L/C Issuer relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

If the Borrower so requests in any applicable Letter of Credit Application (or an application for the amendment of an outstanding Letter of
Credit), any L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement
Letter of Credit”). Unless otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been
issued, except as provided in the following sentence, the Revolving Credit Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuers to reinstate all or a portion of the stated amount thereof in accordance with the
provisions of such Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the applicable L/C Issuer to decline to reinstate all or any portion of the stated amount thereof after a drawing thereunder by
giving notice of such non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), such L/C Issuer shall
not permit such reinstatement if it has received a notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Reinstatement Deadline (A) from the
Administrative Agent that the Required Lenders have elected not to permit such reinstatement or (B) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in
Section 4.02 is not then satisfied (treating such reinstatement as an L/C Credit Extension for purposes of this clause) and, in each case, directing such L/C Issuer not to permit such reinstatement. 

(c)    Limitations on Amounts, Issuance and Amendment. A Letter of Credit shall be issued, amended, extended,
reinstated or renewed only if (and upon issuance, amendment, extension, reinstatement or renewal of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, extension,
reinstatement or renewal (i) the aggregate amount of the outstanding Letters of Credit issued by any L/C Issuer shall not exceed its L/C Commitment, (ii) the aggregate L/C Obligations shall not exceed the Letter of Credit Sublimit,
(iii) the Revolving Credit Exposure of any Lender shall not exceed its Commitment and (iv) the sum of the total Revolving Credit Exposures of all Lenders shall not exceed the total Commitments. 

  
 43 

 (i)    No L/C Issuer shall be under any obligation to issue any Letter
of Credit if: 
 (A)    any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms
purport to enjoin or restrain such L/C Issuer from issuing the Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over
such L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer with respect to the Letter of Credit any
restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was not applicable on
the Closing Date and which such L/C Issuer in good faith deems material to it; 
 (B)    the issuance of such Letter of
Credit would violate one or more policies of such L/C Issuer applicable to letters of credit generally; 

(C)    except as otherwise agreed by the Administrative Agent and such L/C Issuer, the Letter of Credit is in an initial
stated amount less than $200,000; 
 (D)    any Revolving Credit Lender is at that time a Defaulting Lender, unless
such L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, reasonably satisfactory to such L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate such L/C Issuer’s actual or potential
Fronting Exposure (after giving effect to Section 2.16(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations
as to which such L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; or 

(E)    the Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing
thereunder. 
 (ii)    No L/C Issuer shall be under any obligation to amend any Letter of Credit if (A) such L/C
Issuer would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not accept the proposed amendment to the Letter of Credit. 

(d)    Expiration Date. Each Letter of Credit shall have a stated expiration date no later than the earlier of
(i) the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any extension of the expiration date thereof, whether automatic or by amendment, twelve months after the then current expiration date of such
Letter of Credit) and (ii) the date that is five Business Days prior to the Maturity Date. 

(e)    Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the
amount or extending the expiration date thereof), and without any further action on the part of the applicable L/C Issuer or the Lenders, such L/C Issuer hereby grants to each Revolving Credit Lender, and each Revolving Credit Lender hereby acquires
from such L/C Issuer, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. Each Revolving Credit Lender acknowledges and agrees that its
obligation to acquire participations 

  
 44 

 
pursuant to this clause (e) in respect of Letters of Credit is absolute, unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including any
amendment, extension, reinstatement or renewal of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments. 

In consideration and in furtherance of the foregoing, each Revolving Credit Lender hereby absolutely, unconditionally and irrevocably agrees
to pay to the Administrative Agent, for account of the applicable L/C Issuer, such Lender’s Applicable Percentage of each L/C Disbursement made by an L/C Issuer not later than 1:00 p.m. on the Business Day specified in the notice provided by
the Administrative Agent to the Revolving Credit Lenders pursuant to Section 2.03(f) until such L/C Disbursement is reimbursed by the Borrower or at any time after any reimbursement payment is required to be refunded to the
Borrower for any reason, including after the Maturity Date. Such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner as provided in
Section 2.02 with respect to Loans made by such Lender (and Section 2.02 shall apply, mutatis mutandis, to the payment obligations of the Revolving Credit Lenders pursuant to this
Section 2.03), and the Administrative Agent shall promptly pay to the applicable L/C Issuer the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the
Borrower pursuant to Section 2.03(f), the Administrative Agent shall distribute such payment to the applicable L/C Issuer or, to the extent that the Revolving Credit Lenders have made payments pursuant to this clause
(e) to reimburse such L/C Issuer, then to such Lenders and such L/C Issuer as their interests may appear. Any payment made by a Lender pursuant to this clause (e) to reimburse an L/C Issuer for any L/C Disbursement shall not constitute
a Loan and shall not relieve the Borrower of its obligation to reimburse such L/C Disbursement. 
 Each Revolving Credit Lender further
acknowledges and agrees that its participation in each Letter of Credit will be automatically adjusted to reflect such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit at each time such
Lender’s Commitment is amended pursuant to the operation of Section 2.14, as a result of an assignment in accordance with Section 11.06 or otherwise pursuant to this Agreement. 

If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the applicable L/C Issuer any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(e), then, without limiting the other provisions of this Agreement, the applicable L/C Issuer shall be entitled to recover from
such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such L/C Issuer at a rate per
annum equal to the greater of the Federal Funds Rate and a rate determined by the applicable L/C Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by
such L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Credit Loan included in the relevant Revolving Credit Borrowing
or L/C Advance in respect of the relevant L/C Disbursement, as the case may be. A certificate of any L/C Issuer submitted to any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts owing under this clause
shall be conclusive absent manifest error. 

  
 45 

 (f)    Reimbursement. If an L/C Issuer shall make any L/C
Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such L/C Issuer in respect of such L/C Disbursement by paying to the Administrative Agent an amount equal to such L/C Disbursement not later than 12:00 noon on (i) the
Business Day that the Borrower receives notice of such L/C Disbursement, if such notice is received prior to 10:00 a.m. or (ii) the Business Day immediately following the day that the Borrower receives such notice, if such notice is not
received prior to such time, provided that, if such L/C Disbursement is not less than $1,000,000, the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.02 or
Section 2.04 that such payment be financed with a Borrowing of Base Rate Loans or Swing Line Loan in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be
discharged and replaced by the resulting Borrowing of Base Rate Loans or Swing Line Loan. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Credit Lender of the applicable L/C Disbursement, the
payment then due from the Borrower in respect thereof (the “Unreimbursed Amount”) and such Lender’s Applicable Percentage thereof. In such event, the Borrower shall be deemed to have requested a Revolving Credit Borrowing of
Base Rate Loans to be disbursed on the date of payment by the applicable L/C Issuer under a Letter of Credit in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the aggregate Commitments and the conditions set forth in Section 4.02 (other than
the delivery of a Committed Loan Notice). Any notice given by any L/C Issuer or the Administrative Agent pursuant to this Section 2.03(f) 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. 

(g)    Obligations Absolute. The Borrower’s obligation to reimburse L/C Disbursements as provided in clause
(f) of this Section 2.03 shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective
of: 
 (i)    any lack of validity or enforceability of this Agreement, any other Loan Document or any Letter of
Credit, or any term or provision herein or therein; 
 (ii)    the existence of any claim, counterclaim, setoff,
defense or other right that the Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), any L/C Issuer or
any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

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

  
 46 

 (iv)    waiver by any L/C Issuer of any requirement that exists for
such L/C Issuer’s protection and not the protection of the Borrower or any waiver by such L/C Issuer which does not in fact materially prejudice the Borrower; 

(v)    honor of a demand for payment presented electronically even if such Letter of Credit required that demand be in
the form of a draft; 
 (vi)    any payment made by any L/C Issuer in respect of an otherwise complying item presented
after the date specified as the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC, the ISP or the UCP, as applicable; 

(vii)    payment by the applicable L/C Issuer under a Letter of Credit against presentation of a draft or other document
that does not comply strictly with the terms of such Letter of Credit; or any payment made by any 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; or 
 (viii)    any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.03, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s
obligations hereunder (other than the defense of payment or performance). 
 The Borrower shall promptly, following receipt thereof, 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 the Borrower’s instructions or other irregularity, the Borrower will immediately notify the applicable L/C
Issuer. The Borrower shall be conclusively deemed to have waived any such claim against each L/C Issuer and its correspondents unless such notice is given as aforesaid. 

None of the Administrative Agent, the Lenders, any L/C Issuer, or any of their Related Parties shall have any liability or responsibility by
reason of or in connection with the issuance or transfer of any Letter of Credit by the applicable L/C Issuer or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence),
or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in
interpretation of technical terms, any error in translation or any consequence arising from causes beyond the control of the applicable L/C Issuer; provided that the foregoing shall not be construed to excuse an L/C Issuer from liability to
the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by Applicable Law) suffered by the Borrower that are caused by such L/C
Issuer’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of an L/C Issuer (as finally determined by a 

  
 47 

 
court of competent jurisdiction), an L/C Issuer shall be deemed to have exercised care in each such determination, and that: 

(i)    an L/C Issuer may replace a purportedly lost, stolen, or destroyed original Letter of Credit or missing amendment
thereto with a certified true copy marked as such or waive a requirement for its presentation; 
 (ii)    an L/C Issuer
may accept documents that appear on their face to be in substantial compliance with the terms of a Letter of Credit without responsibility for further investigation, regardless of any notice or information to the contrary, and may make payment upon
presentation of documents that appear on their face to be in substantial compliance with the terms of such Letter of Credit and without regard to any non-documentary condition in such Letter of Credit; 

(iii)    an L/C Issuer shall have the right, in its sole discretion, to decline to accept such documents and to make such
payment if such documents are not in strict compliance with the terms of such Letter of Credit; and 
 (iv)    this
sentence shall establish the standard of care to be exercised by an L/C Issuer when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent
permitted by Applicable Law, any standard of care inconsistent with the foregoing). 
 Without limiting the foregoing, none of the
Administrative Agent, the Lenders, any L/C Issuer, or any of their Related Parties shall have any liability or responsibility by reason of (i) any presentation that includes forged or fraudulent documents or that is otherwise affected by the
fraudulent, bad faith, or illegal conduct of the beneficiary or other Person, (ii) an L/C Issuer declining to take-up documents and make payment (A) against documents that are fraudulent, forged, or
for other reasons by which that it is entitled not to honor or (B) following a Borrower’s waiver of discrepancies with respect to such documents or request for honor of such documents or (iii) an L/C Issuer retaining proceeds of a
Letter of Credit based on an apparently applicable attachment order, blocking regulation, or third-party claim notified to such L/C Issuer. 

(h)    Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and the
Borrower when a Letter of Credit is issued by it (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each Letter of Credit, and (ii) the rules of the UCP shall apply to each
commercial Letter of Credit. Notwithstanding the foregoing, no L/C Issuer shall be responsible to the Borrower for, and no L/C Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of any L/C Issuer
required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where any L/C Issuer or the beneficiary is located, the
practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services
Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 

  
 48 

 (i)    Each L/C Issuer shall act on behalf of the Lenders with respect
to any Letters of Credit issued by it and the documents associated therewith, and each L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or
omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in
Article IX included such L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to such L/C Issuer. 

(j)    Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving
Credit Lender in accordance with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate for Eurodollar Rate Loans times the daily maximum amount available
to be drawn under such Letter of Credit. For purposes of computing the daily maximum amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of
such Letter of Credit, on the Maturity Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily maximum amount available to be drawn under each
Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the
Required Lenders, upon the occurrence and during the continuance of any Event of Default, all Letter of Credit Fees shall accrue at the Default Rate. 

(k)    Fronting Fee and Documentary and Processing Charges Payable to L/C Issuers. The Borrower shall pay directly
to each L/C Issuer for its own account a fronting fee (a “Fronting Fee”) with respect to each Letter of Credit issued by it equal to 0.125% per annum (or such other percentage as may be separately agreed to between the applicable
L/C Issuer and the Borrower) of the daily maximum amount then available to be drawn under such Letter of Credit. Such Fronting Fees shall be computed on a quarterly basis in arrears. Such Fronting Fee shall be due and payable on the last Business
Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit,
on the Maturity Date and thereafter on demand. For purposes of computing the daily maximum amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. In addition, the Borrower shall pay directly to the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of
such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(l)    Disbursement Procedures. The L/C Issuer for any Letter of Credit shall, within the time allowed by
Applicable Laws or the specific terms of the Letter of Credit following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter of Credit. Such L/C Issuer shall promptly after such examination

  
 49 

 
notify the Administrative Agent and the Borrower in writing of such demand for payment if such L/C Issuer has made or will make an L/C Disbursement thereunder; provided that any failure to
give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such L/C Issuer and the Lenders with respect to any such L/C Disbursement. 

(m)    Interim Interest. If the L/C Issuer for any Letter of Credit shall make any L/C Disbursement, then, unless
the Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date
that the Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to Base Rate Loans; provided that if the Borrower fails to reimburse such L/C Disbursement when due pursuant to clause (f) of this
Section 2.03, then Section 2.08(b) shall apply. Interest accrued pursuant to this clause (m) shall be for account of such L/C Issuer, except that interest accrued on and after the date
of payment by any Lender pursuant to clause (f) of this Section 2.03 to reimburse such L/C Issuer shall be for account of such Lender to the extent of such payment. 

(n)    Replacement of any L/C Issuer. Any L/C Issuer may be replaced at any time by written agreement between the
Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the
Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(j). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all
the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any
previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and
obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(o)    Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the
Borrower receives notice from the Administrative Agent or the Required Lenders demanding the deposit of Cash Collateral pursuant to this clause (o), the Borrower shall, on the Business Day that Borrower receives such notice, deposit into an
account established and maintained on the books and records of the Administrative Agent (the “Collateral Account”) an amount in cash equal to 103% of the total L/C Obligations as of such date plus any accrued and unpaid
interest thereon, provided that the obligation to deposit such Cash Collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of
any Event of Default with respect to the Borrower described in clause (f) of Section 8.01. Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the
Borrower under this Agreement. In addition, and without limiting the foregoing or clause (d) of this Section 2.03, if any L/C Obligations remain outstanding after the expiration date specified in said clause
(d), the Borrower shall immediately deposit into the Collateral Account an amount in cash equal to 103% of such L/C Obligations as of such date plus any accrued and unpaid interest thereon. 

  
 50 

 The Administrative Agent shall have exclusive dominion and control, including the exclusive
right of withdrawal, over the Collateral Account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and
expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in the Collateral Account. Moneys in the Collateral Account shall be applied by the Administrative Agent to reimburse each L/C Issuer
for L/C Disbursements for which it has not been reimbursed, together with related fees, costs, and customary processing charges, and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower
for the L/C Obligations at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of the Required Lenders), be applied to satisfy other obligations of the Borrower under this Agreement. If the Borrower is
required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of
Default have been cured or waived. The Borrower shall maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States that has accepted the
assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement. 

(p)    Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding
hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, indemnify and compensate the applicable L/C Issuer hereunder for any and all drawings under such Letter of Credit as
if such Letter of Credit had been issues solely for the account of the Borrower. The Borrower irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such
Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial
benefits from the businesses of such Subsidiaries. 
 (q)    Conflict with Issuer Documents. In the event of any
conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 

2.04    Swing Line Loans. 

(a)    The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon
the agreements of the other Lenders set forth in this Section 2.04, may in its sole discretion make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during
the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Revolving Credit
Outstandings shall not exceed the Revolving Credit Facility at such time, and (ii) the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Lender’s Commitment, (y) the Borrower shall not use the proceeds of
any Swing Line Loan to refinance any outstanding Swing Line Loan, and (z) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding

  
 51 

 
absent manifest error) that it has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may
borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest only at a rate based on the Base
Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an
amount equal to the product of such Revolving Credit Lender’s Applicable Percentage times the amount of such Swing Line Loan. 

(b)    Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to
the applicable Swing Line Lender and the Administrative Agent, which may be given by (A) telephone or (B) by a Swing Line Loan Notice; provided, that any telephonic notice must be confirmed promptly by delivery to the Swing Line
Lender and the Administrative Agent of a Swing Line Loan Notice. Each Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date (or such later time as shall
be acceptable to the Administrative Agent and the Swing Line Lender), and shall specify (i) the amount to be borrowed, which shall be a minimum of $500,000, and (ii) the requested borrowing date, which shall be a Business Day. Promptly
after receipt by the Swing Line Lender of any Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if
not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the
request of the Required Lenders) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first
sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not
later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swing Line Lender in
immediately available funds. 
 (c)    Refinancing of Swing Line Loans. 

(i)    The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which
hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then
outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the
minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Credit Facility and the conditions set forth in Section 4.02. The Swing Line Lender
shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Applicable Percentage of the amount
specified in such Committed Loan Notice 

  
 52 

 
available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the
account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender
that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii)    If for any reason any Swing Line Loan cannot be refinanced by such a Revolving Credit Borrowing in accordance
with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Credit Lenders fund its
risk participation in the relevant Swing Line Loan and each Revolving Credit Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment
in respect of such participation. 
 (iii)    If any Revolving Credit Lender fails to make available to the
Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in
Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is
required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules
on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Revolving Credit Loan included in the relevant Revolving Credit Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 

(iv)    Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(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 Lender may have against the Swing Line Lender, the Borrower 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; provided, however, that each Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions set
forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein. 

  
 53 

 (d)    Repayment of Participations. 

(i)    At any time after any Revolving Credit Lender has purchased and funded a risk participation in a Swing Line Loan,
if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Revolving Credit Lender its Applicable Percentage thereof in the same funds as those received by the Swing Line Lender.

 (ii)    If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan
is required to be returned by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving
Credit Lender shall pay to the Swing Line Lender 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, at a rate per annum equal to the
Federal Funds Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the Termination Date. 

(e)    Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the
Borrower for interest on the Swing Line Loans. Until each Revolving Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Credit Lender’s Applicable
Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender. 

(f)    Payments Directly to Swing Line Lender. The Borrower shall make all payments of principal and interest in
respect of the Swing Line Loans directly to the Swing Line Lender. 
 2.05    Prepayments. 

(a)    Optional. Subject to the last sentence of Section 2.05(a)(i), the
Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Credit Loans in whole or in part without premium or penalty; provided that, except as otherwise agreed by the Administrative
Agent, (A) such notice must be in substantially the form of a Notice of Loan Prepayment and be received by the Administrative Agent not later than 1:00 p.m. (1) three Business Days prior to any date of prepayment of Eurodollar Rate Loans
and (2) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof; and (C) any prepayment of Base Rate
Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each Notice of Loan Prepayment shall specify the date and amount of
such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such Notice of Loan
Prepayment, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage in respect of the Revolving Credit Facility). If a Notice of Loan Prepayment is given by the Borrower, the
Borrower shall make such prepayment and the payment amount specified in such Notice of Loan Prepayment shall be due and payable on the date specified therein; 

  
 54 

 
provided, that, a Notice of Loan Prepayment delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be
revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount
prepaid, together with any additional amounts required pursuant to Section 3.05. 

(i)    The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or
from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that, except as otherwise agreed by the Swing Line Lender, (A) such Notice of Loan Prepayment must be received by the Swing
Line Lender and the Administrative Agent not later than 12:00 p.m. on the date of the prepayment, and (B) any such prepayment shall be in a minimum principal amount of $100,000. Each Notice of Loan Prepayment shall specify the date and amount
of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such Notice of Loan Prepayment shall be due and payable on the date specified therein; provided,
that, a Notice of Loan Prepayment delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative
Agent on or prior to the specified effective date) if such condition is not satisfied. 
 2.06    Termination or
Reduction of Commitments. 
 (a)    Optional. The Borrower may, upon notice to the Administrative Agent,
terminate the Revolving Credit Facility, the Letter of Credit Sublimit or the Swing Line Sublimit, or from time to time permanently reduce the Revolving Credit Facility, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that,
except as otherwise agreed by the Administrative Agent, (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial
reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Revolving Credit Facility if, after giving effect thereto and to any
concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash
Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing Line Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swing Line Loans would exceed the Letter
of Credit Sublimit. 
 (b)    Application of Commitment Reductions; Payment of Fees. The Administrative Agent
will promptly notify the Lenders of any termination or reduction of the Letter of Credit Sublimit, Swing Line Sublimit or the Commitment under this Section 2.06. Upon any reduction of the Commitments, the Commitment of each
Revolving Credit Lender shall be reduced by such Lender’s Applicable Percentage of such reduction amount. All fees in respect of the Revolving Credit Facility accrued until the effective date of any termination of the Revolving Credit Facility
shall be paid on the effective date of such termination. 

  
 55 

 (c)    Automatic Reduction. If after giving effect to any
reduction or termination of the Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the Revolving Credit Facility at such time, the Letter of Credit Sublimit or the Swing
Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. 
 2.07    Repayment
of Loans. 
 (a)    Revolving Credit Loans. The Borrower shall repay to the Revolving Credit Lenders on the
Maturity Date for the Revolving Credit Facility the aggregate principal amount of all Revolving Credit Loans outstanding on such date. 

(b)    Swing Line Loans. The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date
ten Business Days after such Loan is made and (ii) the Maturity Date. At any time that there shall exist a Defaulting Lender, immediately upon the request of the Swing Line Lender, the Borrower shall repay the outstanding Swing Line Loans made
by the Swing Line Lender in an amount sufficient to eliminate any Fronting Exposure in respect of such Swing Line Loans. 

2.08    Interest. 

(a)    Subject to the provisions of Section 2.08(b), at the election of the Borrower,
(i) each Eurodollar Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the
Applicable Rate for the Revolving Credit Facility; (ii) each Base Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the
Base Rate plus the Applicable Rate for the Revolving Credit Facility; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate
plus the Applicable Rate for the Revolving Credit Facility. 
 (b)    (i)    If any Event of Default
has occurred and is continuing under Section 8.01(a) for failure to pay any amount of principal of any Loan when due, whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. 

(ii)    If any Event of Default has occurred and is continuing under Section 8.01(a) for
failure to pay any amount (other than principal) of any Loan payable by the Borrower under any Loan Document when due, whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders such amount shall
thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. 

(iii)    Upon the request of the Required Lenders, while any Event of Default has occurred and is continuing (other than
as set forth in clauses (b)(i) and (b)(ii) above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by Applicable Laws. 

  
 56 

 (iv)    Accrued and unpaid interest on past due amounts (including
interest on past due interest) shall be due and payable upon demand. 
 (c)    Interest on each Loan shall be due and
payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law. 
 2.09    Fees. In addition to certain fees
described in Sections 2.03(j) and (k): 
 (a)    Commitment Fee. The Borrower shall pay to the
Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”) equal to the Applicable Fee Rate times the actual daily amount by
which the Revolving Credit Facility exceeds the sum of (i) the Outstanding Amount of Revolving Credit Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.16.
For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Facility for purposes of determining the Commitment Fee. The Commitment Fee shall accrue at all times
during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December,
commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period for the Revolving Credit Facility. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the
Applicable Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate separately for each period during such quarter that such Applicable Fee Rate was in effect. 

(b)    Other Fees. (i) The Borrower shall pay to the Arranger and the Administrative Agent for their own
respective accounts fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(ii)    The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the
amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

2.10    Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. 

(a)    All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the
Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year
and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is
made, and shall not accrue on 

  
 57 

 
a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same day on which it is made shall, subject to
Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

(b)    If, as a result of any restatement of or other adjustment to the financial statements of Holdings or for any other
reason, the Borrower, Holdings or the Lenders reasonably determine that (i) the Consolidated Leverage Ratio as calculated by Holdings as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Leverage Ratio
would have resulted in higher pricing for such period, the Borrower shall promptly and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders and/or the applicable L/C Issuer, as the case may be,
promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the
Administrative Agent, any Lender or any L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This clause
(b) shall not limit the rights of the Administrative Agent, any Lender or any L/C Issuer, as the case may be, under Section 2.03(c)(iii), 2.03(i) or 2.08(b) or under Article VIII.
The Borrower’s obligations under this clause (b) shall survive the Termination Date. 
 2.11    Evidence of
Debt. 
 (a)    The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records
maintained by such Lender in the ordinary course of business. The Administrative Agent shall maintain the Register in accordance with Section 11.06(c). The accounts or records maintained by each Lender shall be conclusive
absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of
the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the Register, the Register shall control in the absence of manifest error.
Upon the written request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts
or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

(b)    In addition to the accounts and records referred to in Section 2.11(a), each Lender and
the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the
accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

  
 58 

 2.12    Payments Generally; Administrative Agent’s
Clawback. 
 (a)    General. All payments to be made by the Borrower shall be made free and clear of
and without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the
respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to
each Lender its Applicable Percentage in respect of the Revolving Credit Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received
by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a
Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected on computing interest or fees, as the case may be. 

(b)    Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received
notice from a Lender prior to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 2:00 p.m. on the date of such Borrowing) that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a
Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent
forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative
Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the
Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If
such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the
Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(i)    Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have
received notice from the Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Lenders or any 

  
 59 

 
L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in
reliance upon such assumption, distribute to the Appropriate Lenders or the applicable L/C Issuers, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Appropriate Lenders or the
applicable L/C Issuers, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or such L/C Issuer, in immediately available funds with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation. 
 A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount
owing under this clause (b) shall be conclusive, absent manifest error. 
 (c)    Failure to Satisfy
Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower
by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest. 
 (d)    Obligations of Lenders Several. The
obligations of the Lenders hereunder to make Revolving Credit Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure
of any Lender to make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such
date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.04(c). 

(e)    Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in
any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(f)    Insufficient Funds. If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, L/C Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal and L/C Disbursements then due to such parties. 
 2.13    Sharing of Payments by Lenders.
If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable 

  
 60 

 
to such Lender hereunder and under the other Loan 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 Loan Documents at such time) of payments on account of the Obligations due and payable to all Lenders
hereunder and under the other Loan 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 Loan 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 Loan 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 Loan 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 and Swing Line Loans
of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Lenders or
owing (but not due and payable) to the Lenders, as the case may be, provided that: 
 (i)    if any such participations
or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest;
and 
 (ii)    the provisions of this Section 2.13 shall not be construed to apply to
(A) 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 or Disqualified Institution), (y)
the application of Cash Collateral provided for in Section 2.16, 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 or Swing Line Loans to any assignee or participant, other than an assignment to Holdings, the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this Section 2.13 shall apply).

 The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that any Lender acquiring
a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of
such participation. 
 2.14    Increase in Commitments, Borrower Request. The Borrower may by written notice to
the Administrative Agent elect to request prior to the Maturity Date for the Revolving Credit Facility, an increase to the existing Commitments (each, an “Incremental Revolving Commitment”), by an aggregate amount not in excess of
$100,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Commitments shall be effective, which shall be a date not less than 10 Business
Days after the date on which such notice is delivered to the Administrative Agent and (ii) the 

  
 61 

 
identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided, that any Lender may
elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $25,000,000 or any whole multiple of $1,000,000 in excess thereof (provided that such amount may be less
than $25,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above). 

(a)    Conditions. The Incremental Commitments shall become effective as of the Increase Effective Date; provided
that: 
 (i)    each of the conditions set forth in Section 4.02 shall be satisfied; 

(ii)    no Default shall have occurred and be continuing or would result from the borrowings to be made on the Increase
Effective Date; 
 (iii)    the representations and warranties contained in Article V and the other Loan
Documents are true and correct in all material respects on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall have been true and
correct in all material respects as of such earlier date, and except that for purposes of this Section 2.14(a), the representations and warranties contained in Section 5.05(a) and
Section 5.05(b) shall be deemed to refer to the most recent financial statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01. 

(iv)    on a Pro Forma Basis (assuming, in the case of Incremental Revolving Commitments, that such Incremental Revolving
Commitments are fully drawn), the Borrower shall be in compliance with each of the covenants set forth in Section 7.11 as of the end of the most recent Measurement Period; 

(v)    the Borrower shall make any breakage payments in connection with any adjustment of Revolving Credit Loans pursuant
to Section 3.05; 
 (vi)    the Borrower shall deliver or cause to be delivered
officer’s certificates of the type delivered on the Closing Date to the extent reasonably requested by, and in form and substance reasonably satisfactory to, the Administrative Agent; and 

(vii)    upon the reasonable request of any Lender made at least 5 Business Days prior to the Increase Effective Date,
the Borrower shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested that is required by applicable “know your customer” and anti-money-laundering rules
and regulations, including, without limitation, the PATRIOT Act, and, with respect to any Loan Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to
such Loan Party. 
 (viii)    if additional Eligible Assignees are becoming Lenders, the Administrative Agent and the
Lenders shall receive a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent (an “Increase Joinder”). 

  
 62 

 (b)    Adjustment of Revolving Credit Loans. To the extent the
Commitments being increased on the relevant Increase Effective Date are Incremental Revolving Commitments, then each Revolving Credit Lender that is acquiring an Incremental Revolving Commitment on the Increase Effective Date shall make a Revolving
Credit Loan, the proceeds of which will be used to prepay the Revolving Credit Loans of the other Revolving Credit Lenders immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolving Credit Loans
outstanding are held by the Revolving Credit Lenders pro rata based on their Commitments after giving effect to such Increase Effective Date. If there is a new borrowing of Revolving Credit Loans on such Increase Effective Date, the Revolving Credit
Lenders after giving effect to such Increase Effective Date shall make such Revolving Credit Loans in accordance with Section 2.01. 

(c)    Equal and Ratable Benefit. The Loans and Commitments established pursuant to this clause
(e) shall constitute Loans and Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guarantees
and security interests created by the Collateral Documents, except that the new Loans may be subordinated in right of payment or the Liens securing the new Loans may be subordinated, in each case, to the extent set forth in the Increase Joinder. The
Loan Parties shall take any actions reasonably required by the Administrative Agent to ensure and/or demonstrate that the Lien and security interests granted by the Collateral Documents continue to be perfected under the UCC or otherwise after
giving effect to the establishment of any such new Commitments. This Section 2.14 shall supersede any provisions in Section 2.13 and Section 11.01 to the contrary. 

2.15    Reserved. 

2.16    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. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver
or consent with respect to this Agreement shall be restricted as set forth in Section 11.01 and in the definition of “Required Lender”. 

(ii)    Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to
Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent
hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any L/C Issuer or the Swing Line Lender hereunder; third, to Cash Collateralize the L/C Issuers’ Fronting Exposure with
respect to such Defaulting Lender in accordance with Section 2.16(d); fourth, as the 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 

  
 63 

 
has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be
held in a 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 Issuers’ future
Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.16(d); sixth, to the payment of any amounts owing to the
Lenders, the L/C Issuers or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, any L/C Issuer or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Disbursements in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were
made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and 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 and Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.16(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 2.16(a)(ii) shall be deemed paid to and redirected by such
Defaulting Lender, and each Lender irrevocably consents hereto. 
 (iii)    Certain Fees. 

(A)    No Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a
Defaulting Lender (and the Borrower shall not be required to pay any such Commitment Fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(B)    Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which that Lender
is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.16(d). 

(C)    With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause
(A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting
Lender’s participation in L/C Obligations or Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to each L/C Issuer and the Swing
Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s or such Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be
required to pay the remaining amount of any such fee. 

  
 64 

 (iv)    Reallocation of Applicable Percentages to Reduce Fronting
Exposure. All or any part of such Defaulting Lender’s participation in L/C Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective
Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Credit Exposure of any
Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. Subject to Section 11.19, 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. 

(v)    Cash Collateral, Repayment of Swing Line Loans. If the reallocation described in clause (a)(iv)
above cannot, or can only partially, be effected, the Borrower shall, within one (1) Business Day following notice from the Administrative Agent, without prejudice to any right or remedy available to it hereunder or under Applicable Law,
(x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in
Section 2.16(d). 
 (b)    Defaulting Lender Cure. If the Borrower, the Administrative
Agent, the Swing Line Lender and each 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 at par 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 Revolving Credit Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held pro rata by the Lenders in accordance with their Commitments
(without giving effect to Section 2.16(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 the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

(c)    New Swing Line Loans/Letters of Credit. So long as any Revolving Credit Lender is a Defaulting Lender,
(i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to
issue, extend, increase, reinstate or renew any Letter of Credit unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect thereto. 

  
 65 

 (d)    Cash Collateral. 

(i)    Obligation to Cash Collateralize. At any time that there shall exist a Defaulting Lender, within one
Business Day following the written request of the Administrative Agent or any L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C Issuers’ Fronting Exposure with respect to such Defaulting Lender
(determined after giving effect to Section 2.16(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount. 

(ii)    Grant of Security Interest. The Borrower, and to the extent provided by any Defaulting Lender, such
Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuers and the Lenders, and agrees to maintain, a first priority security interest in all such cash,
deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to
Section 2.16(d)(iii). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or the applicable L/C Issuer as herein
provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an
amount sufficient to eliminate such deficiency (determined in the case of Cash Collateral provided pursuant to Section 2.16(a)(v), after giving effect to Section 2.16(a)(v) and any Cash Collateral
provided by the Defaulting Lender). All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in one or more Controlled Accounts at Bank of America. The Borrower shall pay on demand therefor from
time to time all customary account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 

(iii)    Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral
provided under any of this Section 2.16 or Sections 2.03, 2.04, 2.06, or 8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the
specific L/C Obligations, Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral
was so provided, prior to any other application of such property as may be provided for herein. 

(iv)    Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to
secure other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender
(or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the applicable L/C Issuer that there exists excess Cash Collateral;
provided, however, (x) any such release shall be without prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents and the other applicable
provisions of the Loan Documents, and (y) the Person providing Cash Collateral and the applicable L/C Issuer may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other
obligations. 

  
 66 

 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01    Taxes. 

(a)    Defined Terms: For purposes of this Section 3.01, the term “Applicable
Law” includes FATCA and the term “Lender” includes any L/C Issuer. 
 (b)    Payments Free of
Taxes. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If any Applicable Law (as determined in
the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or
withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with Applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be
increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the
sum it would have received had no such deduction or withholding been made. 
 (c)    Payment of Other Taxes by
Borrower. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with Applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(d)    Indemnification by Borrower. Each of the Loan Parties shall indemnify each Recipient, within 10 days after
demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to
be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive
absent manifest error. 
 (e)    Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes
and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register
and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or
not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to 

  
 67 

 
set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any
amount due to the Administrative Agent under this clause (e). 
 (f)    Evidence of Payments. As soon as
practicable after any payment of Taxes by the Borrower to a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of any return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(g)    Status of Lenders; Tax Documentation. 

(i)    Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the
Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such
other documentation prescribed by Applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 3.01(g)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material
unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

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

(A)    any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the
date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9
certifying that such Lender is exempt from U.S. federal backup withholding tax; 
 (B)    any Foreign Lender shall, to
the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

(1)    in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a
party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN-E (or W-8BEN, as

  
 68 

 
applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other
applicable payments under any Loan Document, IRS Form W-8BEN-E (or W-8BEN, as applicable) establishing an exemption from, or
reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2)    executed copies of IRS Form W-8ECI; 

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

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

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

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

  
 69 

 (iii)    Each Lender agrees that if any form or certification it
previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing
of its legal inability to do so. 
 (h)    Treatment of Certain Refunds. Unless required by Applicable Laws, at
no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or an L/C Issuer, or have any obligation to pay to any Lender or any L/C Issuer, any refund of Taxes withheld or deducted from funds
paid for the account of such Lender or such L/C Issuer, as the case may be. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this
Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by a Loan Party under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses (including Taxes) of such indemnified party, and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (h) (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified party be
required to pay any amount to an indemnifying party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified
party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.
This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i)    Survival. Each party’s obligations under this Section 3.01 shall survive the
resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or an L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

3.02    Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar
Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, upon notice thereof by such Lender to the Borrower
(through the Administrative Agent), (a) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended, and (b) if such notice asserts the illegality of such

  
 70 

 Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the
Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the
Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (i) the Borrower shall, upon demand from such
Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality,
be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to
such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurodollar Rate, the
Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is
no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted, together with any
additional amounts required pursuant to Section 3.05. 
 3.03    Inability to Determine
Rates. 
 (a)    If in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation
thereof, (i) the Administrative Agent determines that (A) Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, or (B) (x)
adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan and (y) the
circumstances described in Section 3.03(c)(i) do not apply (in each case with respect to this clause (i), “Impacted Loans”), or (ii) the Administrative Agent or the Required Lenders determine that for
any reason the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Eurodollar Rate Loan, the Administrative Agent will
promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the affected Eurodollar Rate Loans or Interest Periods), and
(y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each
case until the Administrative Agent (or, in the case of a determination by the Required Lenders described in clause (ii) of Section 3.03(a), until the Administrative Agent upon instruction of the Required Lenders)
revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or,
failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

  
 71 

 (b)    Notwithstanding the foregoing, if the Administrative Agent has
made the determination described in Section 3.03(a)(i), the Administrative Agent, in consultation with the Borrower, 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 (i) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under Section 3.03(a)(i), (ii) the Administrative Agent or the
Required 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 (iii) any Lender determines that any Law has
made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or
to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written
notice thereof. 
 (c)    Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the
Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Borrower or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to the Borrower) that the
Borrower or Required Lenders (as applicable) have determined, that: 
 (i)    adequate and reasonable means do not
exist for ascertaining LIBOR for any requested Interest Period, including, without limitation, because the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or 

(ii)    the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over the
Administrative Agent has made a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available, or used for determining the interest rate of loans (such specific date, the “Scheduled
Unavailability Date”), or 
 (iii)    syndicated loans currently being executed, or that include language
similar to that contained in this Section 3.03, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR, 

then, reasonably promptly after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as
applicable, the Administrative Agent and the Borrower may amend this Agreement to replace LIBOR with an alternate benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due
consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks (any such proposed rate, a “LIBOR Successor Rate”), together with any
proposed LIBOR Successor Rate Conforming Changes (as defined below) and any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the
Borrower unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required 

  
 72 

 
Lenders do not accept such amendment. Such LIBOR Successor Rate shall be applied in a manner consistent with market practice; provided, that to the extent such market practice is not
administratively feasible for the Administrative Agent, such LIBOR Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent. 

If no LIBOR Successor Rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability Date
has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the
affected Eurodollar Rate Loans or Interest Periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining the Base Rate. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans
(subject to the foregoing clause (y)) in the amount specified therein. 
 Notwithstanding anything else herein, any definition of LIBOR
Successor Rate shall provide that in no event shall such LIBOR Successor Rate be less than zero for purposes of this Agreement. 
 For
purposes hereof, “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates
and making payments of interest and other administrative matters as may be appropriate, in the discretion of the Administrative Agent in consultation with the Borrower, to reflect the adoption of such LIBOR Successor Rate and to permit the
administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no
market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement). 

3.04    Increased Costs; Reserves on Eurodollar Rate Loans. 

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

(i)    impose, modify or deem applicable any reserve, special deposit, liquidity, compulsory loan, insurance charge or
similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurodollar Rate) or any L/C Issuer; 

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

  
 73 

 (iii)    impose on any Lender or any L/C Issuer or the London interbank
market any other condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any Loan the interest
on which is determined by reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or such L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of
maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or such L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon
request of such Lender or such L/C Issuer, the Borrower will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer, as the case may be, for such additional
costs incurred or reduction suffered. 
 (b)    Capital Requirements. If any Lender or any L/C Issuer determines
that any Change in Law affecting such Lender or such L/C Issuer or any Lending Office of such Lender or such Lender’s or such L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of
reducing the rate of return on such Lender’s or such L/C Issuer’s capital or on the capital of such Lender’s or such L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the
Loans made by, or participations in Letters of Credit or Swing Line Loans held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such Lender or such L/C Issuer or such Lender’s or such L/C
Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or such L/C Issuer’s holding company with
respect to capital adequacy), then from time to time the Borrower will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer or such Lender’s or such L/C
Issuer’s holding company for any such reduction suffered. 
 (c)    Certificates for Reimbursement. A
certificate of a Lender or an L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or such L/C Issuer or its holding company, as the case may be, as specified in clauses (a) or (b) of this
Section 3.04 and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or such L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten
(10) days after receipt thereof. 
 (d)    Delay in Requests. Failure or delay on the part of any Lender or
any L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or such L/C Issuer’s right to demand such compensation,
provided that the Borrower shall not be required to compensate a Lender or an L/C Issuer pursuant to the foregoing provisions of this Section 3.04 for any increased costs incurred or reductions suffered more than 180
days prior to the date that such Lender or such L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or such L/C Issuer’s intention to claim
compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of
retroactive effect thereof). 

  
 74 

 (e)    Reserves on Eurodollar Rate Loans. The Borrower shall pay
to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency Liabilities”),
additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive),
which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least ten (10) days’ prior written notice (with a copy to the Administrative Agent) of such
additional interest or costs from such Lender. If a Lender fails to give notice ten (10) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days from receipt of such notice. 

3.05    Compensation for Losses. Within ten (10) days following written demand of any Lender (with a copy to
the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense (other than loss of profit) incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b)    any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 

(c)    any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a
result of a request by the Borrower pursuant to Section 11.13; 
 including any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained, but excluding any loss of anticipated profits or margin. The Borrower shall also pay any reasonable,
customary administrative fees charged by such Lender in connection with the foregoing. 
 For purposes of calculating amounts payable by the
Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London
interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 

3.06    Mitigation Obligations; Replacement of Lenders. 

(a)    Designation of a Different Lending Office. Each Lender may make any Credit Extension to the Borrower through
any Lending Office, provided that the exercise of this option shall not affect the obligation of the Borrower to repay the Credit Extension in accordance 

  
 75 

 
with the terms of this Agreement. If any Lender requests compensation under Section 3.04, or requires the Borrower to pay any Indemnified Taxes or additional amounts to
any Lender, any L/C Issuer, or any Governmental Authority for the account of any Lender or any L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at
the request of the Borrower such Lender or such L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender or such L/C Issuer, as applicable, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or
3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or such L/C Issuer, as the case may be,
to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or such L/C Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or any L/C Issuer in
connection with any such designation or assignment. 
 (b)    Replacement of Lenders. If any Lender requests
compensation under Section 3.04 or gives a notice pursuant to Section 3.02, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 3.01, and in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 3.06(a),
the Borrower may replace such Lender in accordance with Section 11.13. 

3.07    Survival. All of the Borrower’s obligations under this Article III shall survive the
Termination Date and resignation of the Administrative Agent. 
 ARTICLE IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01    Conditions of Initial Credit Extension. The obligation of each L/C Issuer and each Lender to make its
initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 
 (a)    The
Administrative Agent’s receipt of the following, each of which shall be originals or .pdf copies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each, to
the extent applicable, dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance reasonably satisfactory to the Administrative Agent and each of the
Lenders: 
 (i)    executed counterparts of this Agreement from the Administrative Agent, each Lender and each Loan
Party; 
 (ii)    a Note executed by the Borrower in favor of each Lender requesting a Note; 

(iii)    (x) the UK Security Document and (y) a security agreement, in substantially the form of Exhibit G
(together with each other security agreement and security 

  
 76 

 
agreement supplement delivered pursuant to Section 6.12, in each case as amended, the “Security Agreement”), duly executed by each Loan Party, together
with: 
 (A)    certificates and instruments representing the “Pledged Equity” referred to therein
accompanied by undated stock powers or instruments of transfer executed in blank, 
 (B)    proper financing statements
in form appropriate for filing under the Uniform Commercial Code of all jurisdictions that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created under the Security Agreement, covering the Collateral described
in the Security Agreement, 
 (C)    certified copies of UCC, United States Patent and Trademark Office and United
States Copyright Office, tax and judgment lien searches, or equivalent reports or searches, each of a recent date listing all effective financing statements, lien notices or comparable documents (together with copies of such financing statements and
documents) that name any Loan Party as debtor, none of which encumber the Collateral covered or intended to be covered by the Collateral Documents (other than Liens permitted hereunder and Liens that will be terminated on the date hereof), and that
are filed in those state and county jurisdictions in which any Loan Party is organized or maintains its principal place of business and such other searches that are required by the Perfection Certificate or that the Administrative Agent deems
necessary or appropriate, 
 (D)    a Perfection Certificate, in substantially the form of Exhibit I, duly
executed by each of the Loan Parties, and 
 (E)    evidence that all other actions, recordings and filings that the
Administrative Agent may deem necessary or desirable in order to perfect the Liens created under the Security Agreement has been taken (including receipt of duly executed payoff letters and UCC-3 termination
statements); 
 (iv)    a Copyright Security Agreement, Patent Security Agreement and Trademark Security Agreement (as
each such term is defined in Security Agreement and to the extent applicable) (together with each other intellectual property security agreement delivered pursuant to Section 6.12, in each case as amended, the
“Intellectual Property Security Agreement”), duly executed by each Loan Party, together with evidence that all action that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created under the
Intellectual Property Security Agreement has been taken; 
 (v)    a Guaranty; 

(vi)    such certificates with respect to resolutions or other action, incumbency certificates and/or other certificates
of Responsible Officers of each Loan Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this
Agreement and the other Loan Documents to which such Loan Party is a party or is to be a party; 

  
 77 

 (vii)    such documents and certifications as the Administrative Agent
may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(viii)    a favorable opinion of Goodwin Procter LLP, counsel to the Loan Parties, addressed to the Administrative Agent
and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents and the transactions contemplated thereby as the Administrative Agent and the Lenders
shall reasonably request; 
 (ix)    a favorable opinion of Morgan, Lewis & Bockius UK LLP, local counsel to
the Administrative Agent in the United Kingdom, addressed to the Administrative Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents
and the transactions contemplated thereby as the Administrative Agent and the Lenders shall reasonably request; 

(x)    a certificate signed by a Responsible Officer of the Borrower certifying (A) that the conditions specified in
Sections 4.02(a) and (b) have been satisfied, (B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect, (C) a calculation of the Consolidated Leverage Ratio as of the last day of the fiscal quarter of the Borrower most recently ended prior to the Closing Date, and (D) the representations contained in
Section 5.02 and 5.03 are true and correct in all material respects as of the Closing Date; 

(xi)    a business plan and budget of Holdings and its Subsidiaries on a consolidated basis, including forecasts prepared
by management of Holdings, of consolidated balance sheets and statements of income or operations and cash flows of Holdings and its Subsidiaries on a monthly basis for the first year following the Closing Date; 

(xii)    a certificate attesting to the Solvency of Holdings and its Subsidiaries on a consolidated basis before and
after giving effect to the Transactions, from Holdings’ chief financial officer, substantially in the form of Exhibit N; 

(xiii)    evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is
in effect, together with the certificates of insurance, naming the Administrative Agent, on behalf of the Secured Parties, as an additional insured or loss payee, as the case may be, under all insurance policies (including flood insurance policies)
maintained with respect to the assets and properties of the Loan Parties that constitutes Collateral; 
 (xiv)    the
Audited Financial Statements and the unaudited financial statements of the Borrower referred to in Sections 5.05(a) and (b); 

  
 78 

 (xv)    evidence that the Existing Credit Agreement and all commitments
thereunder have been, or concurrently with the Closing Date is being, terminated and all Liens securing obligations under the Existing Credit Agreement have been, or concurrently with the Closing Date are being, released; and 

(xvi)    such other assurances, certificates, documents, consents or opinions as the Administrative Agent, any L/C
Issuer, the Swing Line Lender or any Lender reasonably may require. 
 (b)    Upon the reasonable request of any Lender
made (x) at least 7 days prior to the Closing Date, the Borrower shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable
“know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act, in each case at least 5 days prior to the Closing Date and (y) at least 7 days prior to the Closing Date, any Loan
Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have delivered, to each Lender that so requests, a Beneficial Ownership Certification in relation to such Loan Party. 

(c)    (i) All fees required to be paid to the Administrative Agent and the Arranger on or before the Closing Date shall
have been paid and (ii) all fees required to be paid to the Lenders on or before the Closing Date shall have been paid. 

(d)    The Borrower shall have paid all reasonable, documented out-of-pocket fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced prior to the Closing Date, plus
such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings to the extent such estimate is
received prior to the Closing Date (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent). 

Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with
the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder
to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto and its signature
page to this Agreement shall constitute the request, consent and direction by such Lender to the Administrative Agent (unless expressly revoked by written notice from such Lender received by the Administrative Agent prior to the earlier to occur of
funding or the Administrative Agent’s declaration that is Agreement is effective) to withdraw and release to the Borrower on the Closing Date the applicable funds of such Lender to be applied to the funding of Loans by such Lender in accordance
with Section 2.02 upon the Administrative Agent’s determination (made in accordance with and subject to the terms of this Agreement) that it has received all items expressly required to be delivered to it under this
Section 4.01. 

  
 79 

 4.02    Conditions to All Credit Extensions. The obligation of
each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent: 

(a)    The representations and warranties of the Borrower and each other Loan Party contained in Article V or any
other Loan Document shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof)
on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except that such materiality
qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date, and except that for purposes of this Section 4.02,
the representations and warranties contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b), respectively. 

(b)    No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds
thereof. 
 (c)    The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line Lender shall
have received a Request for Credit Extension in accordance with the requirements hereof. 
 Each Request for Credit Extension (other than a
Committed Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections
4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE V REPRESENTATIONS
AND WARRANTIES 
 Each of Holdings, Intermediate Holdings, and the Borrower represents and warrants to the Administrative Agent and the
Lenders, as to themselves and their respective Subsidiaries and each other Loan Party, as applicable, that: 

5.01    Existence, Qualification and Power. Each Loan Party (a) is duly organized or formed, validly existing
and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to
(i) own or lease its material assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party and consummate the Transactions, and (c) is duly qualified and is
licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license, except to the extent that failure to do so
could not reasonably be expected to have a Material Adverse Effect. 

  
 80 

 5.02    Authorization; No Contravention. The execution, delivery
and performance by each Loan Party of each Loan Document to which such Person is or is to be a party have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of
such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of (or the requirement to create) any Lien under, or require any payment to be made under (i) any Contractual
Obligation (other than the Loan Documents) to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any
arbitral award to which such Person or its property is subject; or (c) violate any Applicable Law except, in the case of clauses (b) or (c), that would not reasonably be expected to have a Material Adverse Effect. 

5.03    Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action
by, or notice to, or filing with, any Governmental Authority is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for
the consummation of the Transaction, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the
first priority nature thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents, except, in each case, for the
authorizations, approvals, actions, notices and filings listed on Schedule 5.03, all of which have been duly obtained, taken, given or made and are in full force and effect, or that would not reasonably be expected to have a Material Adverse
Effect. 
 5.04    Binding Effect. This Agreement has been, and each other Loan Document, when delivered
hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party,
enforceable against each Loan Party that is party thereto in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization or similar laws and by equitable
principles of general application. 
 5.05    Financial Statements; No Material Adverse Effect. 

(a)    The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the
period covered thereby, except as otherwise expressly noted therein and (ii) fairly present in all material respects the consolidated financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of
operations, cash flows and changes in shareholders’ equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; 

(b)    [Reserved]. 

  
 81 

 (c)    Since the date of the balance sheet included in the Audited
Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect. 

(d)    The consolidated forecasted balance sheet, statements of income and cash flows of Holdings and its Subsidiaries
delivered pursuant to Section 4.01 or Section 6.01(c) were prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable in light of the
conditions existing at the time of delivery of such forecasts (it being understood that such information is subject to significant contingencies, and no assurance can be given that the projections will be realized and that actual results may differ
from projected results and that such differences may be material). 
 5.06    Litigation. There are no actions,
suits, proceedings, claims or disputes pending or, to the knowledge of Holdings or the Borrower, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Group Member or against any of their
respective properties or revenues that purport to affect or pertain to this Agreement, any other Loan Document, or the consummation of the Transaction, or if determined adversely, would reasonably be expected to have a Material Adverse Effect. 

5.07    No Default. No Group Member is in default under or with respect to, or a party to, any Contractual
Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this
Agreement or any other Loan Document. 
 5.08    Ownership of Property. Each Group Member has good record and
marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. 
 5.09    Environmental Matters. 

(a)    Except as could not, in the aggregate, reasonably be expected to result in any Material Adverse Effect on any of the
Loan Parties or any of their respective Subsidiaries, collectively: 
 (i)    Except as otherwise set forth in
Schedule 5.09, (i) none of the properties currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries is listed or formally proposed for listing on the NPL or on the CERCLIS or any analogous foreign,
state or local list or is adjacent to any such property; (ii) there are no, and to the best knowledge of the Loan Parties and their Subsidiaries never have been any underground or above-ground storage tanks or any surface impoundments, septic
tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned, leased or operated by any Loan Party or any of its Subsidiaries or, to the best of the knowledge of the
Loan Parties, on any property formerly owned, leased or operated by any Loan Party or any of its Subsidiaries; (iii) there is no and never has been any asbestos or asbestos-containing material on, at or in any property currently owned, leased
or operated by any 

  
 82 

 
Loan Party or any of its Subsidiaries; (iv) Hazardous Materials have not been Released on, at, under or from any property currently or formerly owned, leased or operated by any Loan Party or
any of its Subsidiaries or any property by or on behalf, or otherwise arising from the operations, of any Loan Party or any of its Subsidiaries; and (v) no Loan Party or any of its Subsidiaries has become subject to any Environmental Liability
or knows of any facts or circumstances that could reasonably be expected to give rise to any Environmental Liability. 

(ii)    Except as otherwise set forth on Schedule 5.09, (i) neither any Loan Party nor any of its Subsidiaries is
undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened Release of Hazardous Materials at,
on, under, or from any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law; and (ii) all Hazardous Materials generated, used, treated, handled or
stored at, or transported to or from, any property currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner which could not reasonably expected to result in liability to any Loan
Party or any of its Subsidiaries. 
 (iii)    The Loan Parties and their respective Subsidiaries: (A) are, and
within the period of all applicable statutes of limitation have been, in compliance with all applicable Environmental Laws; (B) hold all Environmental Permits (each of which is in full force and effect) required for any of their current or
intended operations or for any property owned, leased, or otherwise operated by any of them; (C) are, and within the period of all applicable statutes of limitation have been, in compliance with all of their Environmental Permits; (D) to
the extent within the control of the Loan Parties and their respective Subsidiaries, will timely renew and comply with each of their Environmental Permits and any additional Environmental Permits that may be required of any of them without material
expense, and timely comply with any current, future or potential Environmental Law without material expense; and (E) are not aware of any requirements proposed for adoption or implementation under any Environmental Law. 

5.10    Insurance. The properties of Holdings and each of its Material Subsidiaries are insured with financially
sound and reputable insurance companies that are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties
in localities where the Loan Parties or each applicable Subsidiary operates. 
 5.11    Taxes. Holdings and each
of its Subsidiaries have timely filed all federal, state and other material tax returns and reports required to be filed, and have timely paid all federal, state and other material Taxes (whether or not shown on a tax return), including in its
capacity as a withholding agent, levied or imposed upon it or its properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate
reserves have been provided in accordance with GAAP. Neither the Borrower nor any of its Subsidiaries has received written notice of any proposed tax assessment or tax audit that could reasonably be expected to have a Material Adverse Effect.
Neither any Loan Party nor any Subsidiary thereof is party to any tax sharing agreement with any Person other than any Loan Party or any Subsidiary thereof, and for the avoidance of doubt, excluding any customary contracts entered into in the
ordinary course of business the principal purpose of which is not related to Taxes. 

  
 83 

 5.12    ERISA Compliance. 

(a)    Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other
Federal or state laws. Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is
qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code or such Pension Plan is in the form of a
prototype or volume submitter document that is the subject of a favorable opinion or advisory letter from the Internal Revenue Service. To the best knowledge of the Loan Parties, nothing has occurred that would cause the loss of such tax-qualified status. 
 (b)    There are no pending or, to the best knowledge of the
Loan Parties, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan, Pension Plan or Multiemployer Plan that could reasonably be expected to have a Material Adverse Effect. There has been no
prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c)    (i) No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or
circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan or Multiemployer Plan; (ii) as of the most recent valuation date for any Pension Plan, the funding target attainment
percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage
for any such plan to drop below 60% as of the most recent valuation date; (iii) neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which
have become due that are unpaid; (iv) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (v) no Pension Plan has been terminated by the
plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

(d)    Neither the Borrower or any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to
contribute to, or liability under, any active or terminated Pension Plan other than (A) on the Closing Date, those listed on Schedule 5.12(d) hereto and (B) thereafter, Pension Plans not otherwise prohibited by this Agreement. 

(e)    Subject to the accuracy of the Lenders’ representation in Section 9.12(a), the
Borrower represents and warrants as of the Closing Date that the Borrower is not and will not be using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42)
of ERISA, or otherwise) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments. 

  
 84 

 5.13    Subsidiaries; Equity Interests; Loan Parties. As of the
Closing Date, no Loan Party has any Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by a Loan Party in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens except those created under the Collateral Documents. As of the Closing Date,
no Loan Party has any equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13. As of the Closing Date, all of the outstanding Equity Interests in the Borrower have been
validly issued, are fully paid and non-assessable and are owned by Intermediate Holdings in the amounts specified on Part (c) of Schedule 5.13 free and clear of all Liens except those created under
the Collateral Documents. Set forth on Part (d) of Schedule 5.13 is a complete and accurate list of all Loan Parties, showing as of the Closing Date (as to each Loan Party) the jurisdiction of its incorporation, the address of its
principal place of business and its U.S. taxpayer identification number or, in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer identification number, its unique identification number
issued to it by the jurisdiction of its incorporation. 
 5.14    Margin Regulations; Investment Company Act.

 (a)    The Borrower is not engaged and will not engage, principally or as one of its important activities, in the
business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each
Letter of Credit, not more than 25% of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a consolidated basis) subject to the provisions of Section 7.01 or
Section 7.05 or subject to any restriction contained in any agreement or instrument between the Borrower and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of
Section 8.01(e) will be margin stock. 
 (b)    No Group Member is or is required to be
registered as an “investment company” under the Investment Company Act of 1940. 
 5.15    Disclosure.
No written report, financial statement, certificate or other written information (other than projected financial information, pro forma financial information and other forward-looking information and information of a general economic or
industry-specific nature), furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the financing of the Transactions and the negotiation of this Agreement or delivered hereunder or under any other
Loan Document (in each case, as modified or supplemented by other information so furnished), in each case, as of the date furnished, when taken as a whole, contains any material misstatement of a material fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading in any material respect; provided that, with respect to projected financial information and other forward looking
information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed by it to 

  
 85 

 
be reasonable at the time furnished (it being understood that such information is subject to significant contingencies, and no assurance can be given that the projections will be realized and
that actual results may differ from projected results and that such differences may be material). 

5.16    Compliance with Laws. Each Loan Party and each Subsidiary thereof is in compliance in all material respects
with the requirements of all Applicable Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

5.17    Intellectual Property; Licenses, Etc. To the knowledge of the Loan Parties, each Loan Party and each
of its Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, trade secrets, know-how, franchises, licenses and other intellectual
property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person. To the best knowledge of the Borrower, no product,
service, process, method, substance, part or other material now used, or now contemplated to be used, by any Loan Party or any of its Subsidiaries infringes, misappropriates or otherwise violates upon any rights held by any other Person. Except as
specifically disclosed in Schedule 5.17, no claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrower, threatened, which, either individually or in the aggregate, would reasonably be expected to
have a Material Adverse Effect. To the best knowledge of the Borrower, there has been no unauthorized use, access, interruption, modification, corruption or malfunction of any information technology assets or systems (or any information or
transactions stored or contained therein or transmitted thereby) owned or used by the any Loan Party or any of its Subsidiaries, which, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

5.18    Solvency. Holdings and its Subsidiaries are, on a consolidated basis after giving effect to the
Transactions (including the incurrence of all Indebtedness, Obligations, and any other obligations incurred in connection herewith), Solvent. 

5.19    [Reserved]. 

5.20    OFAC. Neither the Borrower, nor any of its Subsidiaries, nor, to the knowledge of the Borrower and its
Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by one or more individuals or entities that are (a) currently the subject or target of any
Sanctions, (b) included on OFAC’s List of Specially Designated Nationals or HMT’s Consolidated List of Financial Sanctions Targets, or any similar list enforced by any other relevant sanctions authority or (c) located, organized
or resident in a Designated Jurisdiction. The Borrower and its Subsidiaries have conducted their businesses in compliance in all material respects with all applicable Sanctions and have instituted and maintained policies and procedures designed to
promote and achieve compliance with such Sanctions. 

  
 86 

 5.21    Anti-Corruption Laws. The Borrower and its Subsidiaries
have conducted their businesses in compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other applicable anti-corruption legislation in other jurisdictions and have instituted
and maintained policies and procedures designed to promote and achieve compliance with such laws. 
 5.22    EEA
Financial Institutions. The Borrower is not an EEA Financial Institution. 
 5.23    Beneficial Ownership
Certificate. As of the Closing Date, the information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects. 

ARTICLE VI AFFIRMATIVE COVENANTS 

From the Closing Date until the Termination Date: 

6.01    Financial Statements. The Borrower will furnish to the Administrative Agent (for distribution to each
Lender): 
 (a)    as soon as available, but in any event within 90 days after the end of each fiscal year of Holdings
(commencing with the fiscal year ended December 31, 2019), a consolidated balance sheet of Holdings and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, changes in
shareholders’ equity, and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to
be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing or that is otherwise reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in
accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit (other than solely with respect to, or
resulting solely from, a “going concern” statement that is due to the impending maturity of the Revolving Credit Facility within twelve (12) months of the date of such report or opinion); 

(b)    as soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of
each fiscal year of Holdings (commencing with the fiscal quarter ended March 31, 2019), a consolidated balance sheet of Holdings and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or
operations, changes in shareholders’ equity, and cash flows for such fiscal quarter and for the portion of Holdings’ fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of
the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, such consolidated statements to be certified by the chief executive officer, chief financial officer, treasurer, controller, or similar
officer of Holdings as fairly presenting in all material respects the financial condition, results of operations, shareholders’ equity and cash flows of Holdings and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; and 

  
 87 

 (c)    as soon as available, but in any event within 90 days after the
end of each fiscal year of Holdings, detailed consolidated projections for the forthcoming fiscal year (including a projected consolidated balance sheet of Holdings and its Subsidiaries, the related consolidated statements of projected cash flow,
projected changes in financial position, projected profit and loss statements and projected income, in each case as of the end of each such fiscal year (and for the immediately forthcoming fiscal year, as at the end of each fiscal quarter of such
fiscal year), and a description of the underlying assumptions applicable thereto) and, as soon as available, significant revisions, if any, of such projections with respect to such fiscal years (collectively, the “Projections”).

 As to any information contained in materials furnished pursuant to Section 6.02(c), the Loan Parties shall not be separately
required to furnish such information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Loan Parties to furnish the information and materials described in
Section 6.01(a) and (b) above at the times specified therein. 

6.02    Certificates; Other Information. The Borrower shall deliver to the Administrative Agent (for distribution
to each Lender): 
 (a)    concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b) (commencing with the delivery of the financial statements for the fiscal quarter ended March 31, 2019), a duly completed Compliance Certificate signed by the chief executive officer, chief financial officer, treasurer
or controller of Holdings (which delivery may be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes); 

(b)    promptly, and in any event within five (5) Business Days after knowledge thereof by any Loan Party or any
Subsidiary thereof, notice of any investigation or threatened investigation by the SEC regarding financial or other operational results of any Loan Party or any Subsidiary thereof (other than routine comment letters from the staff of the SEC
relating to Holdings’ filings with the SEC) and notice of any material developments with respect thereto; 

(c)    within five Business days after the same are filed, copies of all annual, regular, periodic and special reports and
registration statements which Holdings or the Borrower may file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any national securities exchange, and not otherwise required to be delivered to the Administrative Agent
pursuant hereto; 
 (d)    as soon as available, and in any event within 30 days after the renewal or replacement of any
insurance policy, updated insurance certificates with respect to the insurance coverage required to be maintained pursuant to Section 6.07, together with any supplemental reports with respect thereto which the
Administrative Agent may reasonably request; 
 (e)    concurrently with the delivery of the financial statements
referred to in Section 6.01(a), an IP Reporting Certificate; provided, that if an Event of Default has occurred and is continuing, such report shall be furnished to the Administrative Agent concurrently with the
delivery of the financial statements referred to in Section 6.01(a) and Section 6.01(b); 

  
 88 

 (f)    promptly following any reasonable written request therefor,
information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation,
the PATRIOT Act and the Beneficial Ownership Regulation; and 
 (g)    promptly, such additional financial and other
information as the Administrative Agent or any Lender (acting through the Administrative Agent) may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 6.01 or Section 6.02 may be
delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address
listed on Schedule 11.02; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided that the Borrower shall notify the Administrative Agent (by telecopier or electronic mail) of the posting of any such documents and, upon request, provide to the
Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above,
and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such
documents. 
 The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger may, but shall not be obligated
to, make available to the Lenders and the L/C Issuers materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak,
ClearPar, or a substantially similar electronic transmission system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to
such Persons’ securities. The Borrower hereby agrees that it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower Materials
that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking
Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided, however,
that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a
portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as

  
 89 

 
being suitable only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to mark
any Borrower Materials “PUBLIC”. 
 6.03    Notices. The Borrower shall promptly, but in any event
within 2 Business Days of the date on which a Responsible Officer of the applicable Loan Party has knowledge thereof, notify the Administrative Agent of: 

(a)    the occurrence of any Default; 

(b)    any (i) default or event of default under any Contractual Obligation of any Group Member that, if not cured,
would reasonably be expected to have a Material Adverse Effect; and (ii) litigation, investigation or proceeding that may exist at any time between any Loan Party or their respective Material Subsidiaries and any Governmental Authority that, if
not cured or if adversely determined, as the case may be, would reasonably be expected to have a Material Adverse Effect; 

(c)    the occurrence of an ERISA Event that has resulted in or could reasonably be expected to result in a material
liability; 
 (d)    of any material change in accounting policies or financial reporting practices by any Group
Member, including any determination by Holdings or the Borrower referred to in Section 2.10(b); and 

(e)    of any change in the information provided in the Beneficial Ownership Certification, if any, delivered to a Lender
that would result in a change to the list of beneficial owners identified in such certification. 
 Each notice pursuant to this
Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with
respect thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

6.04    Payment of Obligations; File Tax Returns. Each Loan Party and each Material Subsidiary shall (a) pay,
discharge or otherwise satisfy at or before the due date or before they become delinquent, as the case may be, all Taxes and material Other Taxes imposed by Law on a Loan Party of whatever nature (which may, for the avoidance of doubt, be effected
through the payment of a Tax Distribution), except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books
of the relevant Loan Party and (b) file or cause to be filed all Federal, all income and all other material state and other material tax returns that are required to be filed, in each case, unless the failure to do so, individually or in the
aggregate would not reasonably be expected to have a Material Adverse Effect. 
 6.05    Preservation of Existence,
Etc. Each Loan Party and each Material Subsidiary shall (a)(i) preserve, renew and keep in full force and effect the organizational existence of such Loan Party and (ii) take all reasonable action to maintain or obtain all Governmental
Approvals 

  
 90 

 
and all other rights, privileges and franchises necessary or desirable in the normal conduct of its business or necessary for the performance by such Person of its Obligations under any Loan
Document, except, in each case, as otherwise permitted by Section 7.04 and except, in the case of clause (ii) above, to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect and
(b) comply with all Governmental Approvals, and any term, condition, rule, filing or fee obligation, or other requirement related thereto, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse
Effect. 
 6.06    Maintenance of Properties. Each Loan Party and each Material Subsidiary shall keep all
property of such Loan Party useful and necessary in the business of a Loan Party in good working order and condition, ordinary wear and tear and casualty damage excepted, except where the failure to do so could not reasonably be expected to have a
Material Adverse Effect. 
 6.07    Maintenance of Insurance. Each Loan Party and each Material Subsidiary shall
maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as
are usually insured against in the same general area by companies engaged in the same or a similar business. 

6.08    Compliance with Laws. Holdings and each of its Subsidiaries shall comply in all material respects with the
requirements of all Applicable Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 

6.09    Books and Records. Each Loan Party shall maintain proper books of record and account, in which full, true
and correct entries in conformity with GAAP and applicable Laws consistently applied shall be made of all financial transactions and matters involving the assets and business of such Loan Party, as the case may be. 

6.10    Inspection Rights. Each Loan Party shall permit representatives and independent contractors of the
Administrative Agent to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its Responsible
Officers and independent public accountants (it being understood that an officer of the Borrower may be present at or participate in such discussion); provided, that, the Administrative Agent shall provide three (3) Business Days prior
notice to the Borrower, such visits and inspections shall be limited to no more than one (1) such inspection or visit in any calendar year and the Borrower shall not be required to pay the costs and expenses of more than one (1) such visit
or inspection in any calendar year unless a Default or an Event of Default has occurred and is continuing, in which case no notice shall be required and such inspections and audits shall occur as often as the Administrative Agent shall reasonably
determine is necessary; provided, further, that, notwithstanding anything to the contrary herein, no Loan Party shall be required to disclose, permit the inspection, examination or making of copies of or abstracts from, or
discuss any document, information, or other matter: (a) that constitutes non-financial trade secrets or non-financial proprietary information; or (b) in
respect of which disclosure to the Administrative Agent or any Lender (or 

  
 91 

 
any of their respective representatives or contractors) (i) is prohibited by applicable Law, (ii) would violate any attorney-client privilege, or (iii) would violate any obligation
of confidentiality binding on a Loan Party (to the extent not created in contemplation of such Loan Party’s obligations under this Section 6.10) (provided, that, such Loan Party shall notify the Administrative
Agent that certain privileged or confidential information is not being provided). 
 6.11    Use of Proceeds.
Each Loan Party shall use the proceeds of the Credit Extensions for refinancing certain existing Indebtedness, working capital, acquisitions, investments, capital expenditures, Restricted Payments, and other lawful corporate purposes not in
contravention of any Loan Document. 
 6.12    Covenant to Guarantee Obligations and Give Security. 

(a)    Each Loan Party shall, with respect to any property (to the extent included in the definition of Collateral and not
constituting Excluded Property) acquired after the Closing Date by any Loan Party (other than (x) any property described in paragraph (b) or (c) below, and (y) any property subject to a Lien expressly permitted by
Section 7.01(h)) as to which the Administrative Agent, for the ratable benefit of the Secured Parties, does not have a perfected Lien, promptly (and in any event within thirty (30) days or such later date as permitted
by the Administrative Agent in its sole discretion) (i) take such actions as are reasonably necessary or advisable in the reasonable opinion of the Administrative Agent to grant to the Administrative Agent for the ratable benefit of the Secured
Parties a perfected first priority security interest and Lien consistent with the requirements of the Collateral Documents (other than Liens expressly permitted pursuant to Section 7.01(h)) in the Collateral described in
the Security Agreement, including the filing of UCC financing statements in such jurisdictions as may be required by the Security Agreement or by law or as may be requested by the Administrative Agent and (ii) if reasonably requested by the
Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 

(b)    With respect to any new direct or indirect Subsidiary (other than an Excluded Subsidiary) created or acquired after
the Closing Date by any Loan Party (including pursuant to a Permitted Acquisition), such Loan Party shall, promptly, and in any event within thirty (30) days: (i) execute and deliver or cause to be executed and delivered to the Administrative
Agent such amendments and supplements to the Security Agreement, IP Security Agreements, and other security and pledge agreements as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the ratable benefit
of the Secured Parties, a perfected first priority security interest and Lien in the Equity Interests of such new Subsidiary that is owned directly or indirectly by such Loan Party, (ii) deliver or cause to be delivered to the Administrative
Agent such documents and instruments as may be reasonably required to grant, perfect, protect and ensure the priority of such security interest, including but not limited to, the certificates representing such Equity Interests, together with undated
stock powers or stock transfer forms, in blank, executed and delivered by a duly authorized officer of the relevant Loan Party, (iii) cause such new Subsidiary (A) to become a party to the Security Agreement, (B) to take such actions
as are reasonably necessary or advisable in the opinion of the Administrative Agent to grant to the Administrative Agent for the ratable benefit of the Secured Parties a perfected first priority security interest and Lien consistent with the

  
 92 

 
requirements of the Collateral Documents (other than Liens expressly permitted pursuant to Section 7.01(h)) in the Collateral described in the Security Agreement, with
respect to such Subsidiary, including the filing of UCC financing statements in such jurisdictions as may be required by the Security Agreement or by law or as may be requested by the Administrative Agent and (C) to deliver to the
Administrative Agent a certificate of such Subsidiary, in a form reasonably satisfactory to the Administrative Agent, with appropriate insertions and attachments, (iv) duly execute and deliver or cause to be duly executed and delivered to the
Administrative Agent a guaranty or guaranty supplement, in form and substance substantially similar to Exhibit F or in such other form satisfactory to the Administrative Agent, guaranteeing the other Loan Parties’ obligations under the
Loan Documents, and (v) to the extent requested by the Administrative Agent, deliver or cause to be delivered to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and
from counsel, reasonably satisfactory to the Administrative Agent. Notwithstanding anything to the contrary contained in any Loan Document, no Loan Party shall be required to, and the Administrative Agent and the Lenders shall not (i) except
with respect to the UK Security Agreement, take any action outside of the United States in order to create or perfect any security interest in any asset, and no foreign law security or pledge agreements, opinion or foreign intellectual property
filing shall be required, (ii) take any perfection action with respect to Excluded Property or that is not otherwise required pursuant to the Collateral Documents or (iii) seek any landlord lien waiver, estoppel, warehouseman waiver or
other collateral access or similar agreement. 
 6.13    Compliance with Environmental Laws. 

(a)    Holdings and its Material Subsidiaries shall comply in all material respects with, and ensure compliance in all
respects by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply in all respects with and maintain, and ensure that all tenants and subtenants obtain and comply in all respects with and maintain, any and
all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws except for any such non-compliance or failure to obtain that would not reasonably be expected to
result in a Material Adverse Effect. 
 (b)    Each Loan Party and each Material Subsidiary shall conduct and complete
all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental Laws and promptly comply in all respects with all lawful orders and directives of all Governmental Authorities regarding
Environmental Laws except where failure to conduct, complete or comply would not reasonably be expected to result in a Material Adverse Effect. 

6.14    Further Assurances. Promptly upon request by the Administrative Agent, or any Lender through the
Administrative Agent, each Loan Party shall (a) correct any material defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver,
record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and
other instruments as the Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from time to time in order to (i) carry out more effectively the purposes of the Loan Documents, (ii) to the fullest
extent permitted by Applicable Law, subject any Loan 

  
 93 

 
Party’s properties, assets, rights or interests to the Liens now or hereafter intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the validity,
effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the
rights granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan Party is a party. 

6.15    Information Regarding Collateral. No Loan Party shall effect any change (i) in such Loan Party’s
legal name, (ii) in the location of such Loan Party’s chief executive office, (iii) in such Loan Party’s Federal Taxpayer Identification Number or organizational identification number, if any, or (iv) in such Loan
Party’s jurisdiction of organization (in each case, including by merging with or into any other entity, reorganizing, dissolving, liquidating, reorganizing or organizing in any other jurisdiction), until (A) it shall have given the
Administrative Agent not less than 10 days’ prior written notice (if requested by the Administrative Agent, in the form of certificate signed by a Responsible Officer), or such lesser notice period agreed to by the Administrative Agent, of its
intention so to do, clearly describing such change and providing such other information in connection therewith as the Administrative Agent may reasonably request and (B) it shall have taken all action reasonably satisfactory to the
Administrative Agent to maintain the perfection and priority of the security interest of the Administrative Agent for the benefit of the Secured Parties in the Collateral, if applicable. Each Loan Party agrees to promptly provide the Administrative
Agent with certified Organization Documents reflecting any of the changes described in the preceding sentence. 

6.16    Anti-Corruption Laws; Sanctions. Holdings and its Subsidiaries shall conduct their businesses in compliance
in all material respects with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other applicable anti-corruption legislation in other jurisdictions and with all applicable Sanctions, and maintain policies and
procedures designed to promote and achieve compliance with such laws and Sanctions. 
 6.17    Post-Closing
Obligations. Each applicable Loan Party shall comply with each of the covenants contained in Schedule 6.17 on or before the time periods prescribed therein (as such time periods may be extended by the Administrative Agent in its sole
discretion). 
 ARTICLE VII NEGATIVE COVENANTS 

From the Closing Date until the Termination Date, the Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly, and
solely in the case of Sections 7.01, 7.02, 7.04, 7.06, 7.12, 7.13 and 7.14, Holdings and Intermediate Holdings shall not: 

7.01    Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired, other than the following: 
 (a)    Liens pursuant to any Loan Document; 

(b)    Liens existing on the date hereof and listed on Schedule 7.01 and any renewals, modifications or extensions
thereof, provided that (i) the property covered thereby is not changed to include additional property, (ii) the amount secured or benefited thereby is not 

  
 94 

 
increased except as contemplated by Section 7.02(e), (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) any renewal or
extension of the obligations secured or benefited thereby is permitted by Section 7.02(e); 

(c)    Liens for taxes not yet due or Liens for taxes which are being contested in good faith and by appropriate
proceedings diligently conducted (which proceedings would have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien), if adequate reserves with respect thereto are maintained on the books of the
applicable Person in accordance with GAAP; 
 (d)    carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising by statute or in the ordinary course of business which are not overdue for a period of more than 30 days or, if due and payable, are (i) unfiled and no other action has been taken
to enforce the same or (ii) which are being contested in good faith and by appropriate proceedings diligently conducted for which adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with
GAAP; 
 (e)    pledges or deposits in the ordinary course of business in connection with workers’ compensation,
unemployment insurance and other social security legislation, other than any Lien imposed by ERISA and (ii) pledges or deposits to secure obligations in respect of bank guaranties, surety bonds, performance bonds or similar instruments posted
with respect to the items described in clause (e)(i) above; 
 (f)    pledges or deposits to secure the
performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business and (ii) Liens to
secure obligations in respect of bank guaranties, surety bonds, performance bonds or similar instruments posted with respect to the items described in clause (f)(i) above; 

(g)    easements, rights-of-way,
restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with
the ordinary conduct of the business of the applicable Person; 
 (h)    Liens securing judgments (or appeal or other
surety bonds relating to such judgments) not constituting an Event of Default under Section 8.01(h); 

(i)    Liens securing Indebtedness permitted under Section 7.02(h); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost of the property being acquired on the date of acquisition;

 (j)    Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $2,000,000; provided
that any such Lien on any Collateral shall be junior to the Liens of the Administrative Agent pursuant to such documents and arrangements as shall be satisfactory to the Administrative Agent; and 

  
 95 

 (k)    purported Liens evidenced by the filing of Uniform Commercial
Code financing statements (or equivalent filings, registrations or agreements in foreign jurisdictions) relating to leases permitted by this Agreement or consignment or bailee arrangements entered into in the ordinary course of business; 

(l)    normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions and
banker’s liens, rights of setoff upon deposits of cash or other financial assets or similar rights and remedies (i) in favor of banks or other depository institutions where such accounts are maintained, (ii) in connection with
commodity trading or other brokerage accounts incurred in the ordinary course of business or (iii) Investments made pursuant to the Borrower Investment Policy; 

(m)    Liens of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection; 
 (n)    (i) Liens of sellers of goods to the Borrower arising
under Article 2 of the Uniform Commercial Code or similar provisions of applicable Law in the ordinary course of business, covering only the goods sold and securing only the unpaid purchase price for such goods and related expenses, and
(ii) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of any assets or property in the ordinary course of business; 

(o)    Liens securing obligations (other than obligations representing Indebtedness for borrowed money) under operating,
reciprocal easement or similar agreements entered into in the ordinary course of business of the Borrower and its Subsidiaries; 

(p)    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; 
 (q)    Liens solely on cash earnest money deposits made by the Borrower in
connection with any letter of intent or purchase agreement; 
 (r)    leases, subleases, licenses or sublicenses granted
to others (and pledges or deposits securing such obligations) not interfering in any material respect with the business of the Borrower and its Subsidiaries; 

(s)    rights of first refusal, put, call and similar rights arising in connection with repurchase agreements; and 

(t)    Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto.

 7.02    Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a)    obligations (contingent or otherwise) existing or arising under any Swap Contract, provided that such
obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates; 

  
 96 

 (b)    Indebtedness of a Subsidiary of the Borrower owed to the Borrower
or a wholly-owned Subsidiary of the Borrower, which Indebtedness shall (i) in the case of Indebtedness owed to a Loan Party, constitute “Pledged Collateral” under the Security Agreement, (ii) be on subordination terms reasonably
acceptable to the Administrative Agent and (iii) be otherwise permitted under the provisions of Section 7.03; 

(c)    Indebtedness under the Loan Documents; 

(d)    Indebtedness assumed in connection with a Permitted Acquisition; provided, that (i) such Indebtedness
was not created in contemplation of such acquisition and (ii) the aggregate outstanding principal amount of all such Indebtedness incurred pursuant to this paragraph (d) shall not exceed $10,000,000; 

(e)    Indebtedness outstanding on the date hereof and listed on Schedule 7.02 and any Permitted Refinancings
thereof; 
 (f)    Guarantees of the Borrower or any Guarantor in respect of Indebtedness otherwise permitted hereunder
of the Borrower or any other Guarantor; 
 (g)    surety Indebtedness and any other Indebtedness in respect of
(i) letters of credit, banker’s acceptances or similar arrangements; (ii) bids, tenders, performance bonds or appeal bonds and (iii) workers compensation claims, disability, health, unemployment insurance (including premiums
related thereto), or other employee benefits and self-insurance obligations; 
 (h)    Indebtedness in respect of
Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided, however, that the aggregate principal
amount of all such Indebtedness at any one time outstanding shall not exceed $10,000,000; 
 (i)    Indebtedness in an
aggregate principal amount not to exceed $50,000,000 at any time outstanding; provided, that no more than $2,000,000 of such Indebtedness may be secured by a Lien at any time; provided, further, that any such Lien on any
Collateral shall be junior to the Liens of the Administrative Agent pursuant to such documents and arrangements as shall be satisfactory to the Administrative Agent; 

(j)    unsecured Indebtedness in an aggregate principal amount such that, after giving effect to the incurrence of such
Indebtedness on a pro forma basis, the Consolidated Leverage Ratio, determined as of the end of the fiscal quarter most recently ended, shall not be greater than 2.50:1.00; 

(k)    Indebtedness representing deferred compensation to directors, officers, employees, members of management, managers,
and consultants in the ordinary course of business; 
 (l)    Indebtedness consisting of the financing of insurance
premiums; 
 (m)    Indebtedness in the form of contingent indemnification obligations, purchase price adjustments,
earn-outs, deferred compensation, or other arrangements 

  
 97 

 
representing acquisition consideration or deferred payments of a similar nature incurred in connection with any Permitted Acquisition (and, in the case of deferred compensation representing, or
in substance representing, consideration or a portion of the purchase price in connection with such Permitted Acquisitions) or other Investment permitted by Section 7.03 (collectively, “Deferred Payment
Obligations”), the amount of which shall be deemed to be the amount required to be accrued as a liability in accordance with GAAP; 

(n)    to the extent constituting Indebtedness, obligations incurred in respect of cash management services, netting
services, overdraft protection, Cash Management Agreements, and similar arrangements, in each case in the ordinary course of business; 

(o)    obligations (contingent or otherwise) existing or arising under any Swap Contract, provided that such are not for
purposes of speculation; and 
 (p)    Permitted Convertible Indebtedness, to the extent not otherwise permitted under
this Section 7.02, so long as no Event of Default exists and is continuing at the time of incurrence or assumption of such Indebtedness or would result therefrom and, immediately after giving effect to any such incurrence, the Borrower would be
in compliance with the covenant set forth in Section 7.11(b) on a Pro Forma Basis (calculated after giving effect to the intended use of proceeds from the incurrence thereof). 

7.03    Investments. Make or hold any Investments, except: 

(a)    Investments held by the Borrower and its Subsidiaries in the form of cash and Cash Equivalents (including, for the
avoidance of doubt, pursuant to the Borrower Investment Policy); 
 (b)    advances to officers, directors and employees
of the Borrower and Subsidiaries in an aggregate amount not to exceed $2,500,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 

(c)    (i) Investments by the Borrower and its Subsidiaries in their respective Subsidiaries outstanding on the date
hereof, (ii) additional Investments by the Borrower and its Subsidiaries in Loan Parties (other than Holdings), (iii) additional Investments by Subsidiaries of the Borrower that are not Loan Parties in other Subsidiaries that are not Loan
Parties and (iv) so long as no Default has occurred and is continuing or would result from such Investment, additional Investments by the Loan Parties in wholly-owned Subsidiaries that are not Loan Parties in an aggregate amount outstanding for
all such Investments not to exceed $25,000,000; 
 (d)    Investments consisting of extensions of credit in the nature
of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent
reasonably necessary in order to prevent or limit loss; 
 (e)    Guarantees permitted by
Section 7.02; 
 (f)    Investments existing on the date hereof (other than those referred to
in Section 7.03(c)(i)) and set forth on Schedule 7.03(f); 

  
 98 

 (g)    the purchase or other acquisition of all of the Equity Interests
in, or all or substantially all of the property of, any Person that, upon the consummation thereof, will be wholly-owned directly by the Borrower or one or more of its wholly-owned Subsidiaries (including as a result of a merger or consolidation);
provided that, with respect to each purchase or other acquisition made pursuant to this Section 7.03(g) (each, a “Permitted Acquisition”): 

(i)    any such newly-created or acquired Subsidiary shall comply with the requirements of
Section 6.12, to the extent required by, and subject to the limitations and grace periods set forth therein; 

(ii)    the Loan Parties shall be in compliance with Section 7.07 after giving effect to such
Acquisition; 
 (iii)     (A) immediately before and immediately after giving effect to any such purchase or other
acquisition on a Pro Forma Basis, no Event of Default shall have occurred and be continuing and (B) immediately after giving effect to such purchase or other acquisition, Holdings and its Subsidiaries shall be in compliance with the covenant
set forth in Section 7.11(b) on a Pro Forma Basis, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to
Section 6.01(a) or (b) as though such purchase or other acquisition had been consummated as of the first day of the fiscal period covered thereby; and 

(iv)    the Borrower shall have delivered to the Administrative Agent at least five Business Days prior to the date on
which any such purchase or other acquisition is to be consummated, a certificate of a Responsible Officer, in form and substance reasonably satisfactory to the Administrative Agent, certifying that all of the requirements set forth in this clause
(g) have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition; 

(h)    other Investments not otherwise provided in this Section 7.03; provided that
(i) at the time of making such Investment and after giving effect thereto, no Event of Default shall have occurred and be continuing, (ii) the Consolidated Leverage Ratio, determined on a pro forma basis after giving effect to such
Investment, shall not exceed 2.75:1.00, and (iii) not later than three (3) Business Days prior to making such Investment, the Borrower shall have delivered to the Agent a certificate of a Responsible Officer of Holdings certifying as to
the same and containing a calculation of the Consolidated Leverage Ratio; 
 (i)    any Investments in connection with a
Permitted Bond Hedge Transaction or Permitted Structured Repurchase Transaction; 
 (j)    Investments consisting of
(i) prepaid expenses, negotiable instruments held for collection, bid, performance, workers’ compensation and other similar deposits made in the ordinary course of business, (ii) lease, utility and other similar deposits made in the
ordinary course of business and (iii) other deposits made in connection with the incurrence of Liens permitted hereunder; 

(k)    Investments consisting of deposits, prepayments and other advances made in the ordinary course of business to
distributors, suppliers, licensors and licensees; 

  
 99 

 (l)    Investments made in connection with obtaining, maintaining or
renewing client and customer contracts in the ordinary course of business; 
 (m)    the licensing or contribution of
Intellectual Property pursuant to joint marketing arrangements with other Persons in the ordinary course of business; 

(n)    Investments pursuant to Cash Management Agreements and Swap Contracts; and 

(o)    additional Investments in an aggregate amount during any fiscal year not to exceed the greater of $35,000,000 and
15% of Consolidated EBITDA for such fiscal year. 
 7.04    Fundamental Changes. Merge, dissolve, liquidate,
consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person (including, in each
case, pursuant to a Delaware LLC Division), except that: 
 (a)    any Loan Party may Dispose of all or substantially
all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another Loan Party (other than Holdings); 

(b)    (i) any Subsidiary that is not a Loan Party may dispose of all or substantially all its assets (including any
Disposition that is in the nature of a liquidation) to (A) another Subsidiary that is not a Loan Party or (B) to a Loan Party and (ii) any Subsidiary which is not a Loan Party may be dissolved provided that the net proceeds of such
dissolution (if any) are distributed to a Loan Party; 
 (c)    in connection with any acquisition permitted under
Section 7.03, any Subsidiary of the Borrower may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided that (i) the Person surviving such
merger shall be a wholly-owned Subsidiary of the Borrower and (ii) in the case of any such merger to which any Loan Party (other than the Borrower) is a party, such Loan Party is the surviving Person; and 

(d)    so long as no Default has occurred and is continuing or would result therefrom, any Subsidiary of the Borrower may
merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it or the Borrower; provided, however, that in each case, immediately after giving effect thereto (i) in the case of any
such merger to which the Borrower is a party, the Borrower is the surviving Person and (ii) in the case of any such merger to which any Loan Party (other than the Borrower) is a party, such Loan Party is the surviving corporation. 

7.05    Dispositions. Make any Disposition or enter into any agreement to make any Disposition, except: 

(a)    Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of
business; 

  
 100 

 (b)    Dispositions of inventory in the ordinary course of business or
of Investments made pursuant to the Borrower Investment Policy; 
 (c)    Dispositions of equipment or real property to
the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement
property; 
 (d)    Dispositions of property by any Subsidiary to the Borrower or to a wholly-owned Subsidiary;
provided that if the transferor of such property is a Guarantor, the transferee thereof must either be the Borrower or a Guarantor; 

(e)    Dispositions permitted by Section 7.04; and 

(f)     Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this
Section 7.05; provided that (i) the aggregate fair market value of the assets disposed of does not exceed 10% of the consolidated total assets of Holdings and its Subsidiaries as at the last day of the prior
fiscal year, (ii) with respect to any Disposition or series of related Dispositions of assets with a fair market value of at $25,000,000 or more, (A) at the time the binding agreement related to such Disposition is entered into, no
Specified Event of Default shall then exist and (B) at least 75% of the purchase price for such asset (including any applicable Taxes owed in connection with such Disposition) shall be paid to the Borrower or such Subsidiary in the form of cash
or Cash Equivalents, and (iii) such Disposition shall be for fair market value. 
 7.06    Restricted
Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except: 

(a)    Group Members may make up to $25,000,000 in Restricted Payments in the aggregate per annum, so long as no Event of
Default shall have occurred and be continuing at the time such Restricted Payment is declared; 
 (b)    Group Members
may make additional Restricted Payments so long as the Consolidated Leverage Ratio, determined as of the end of the fiscal quarter of Holdings most recently ended on a Pro Forma Basis after giving effect to the making of such Restricted Payment and
the incurrence of any Indebtedness in connection therewith, is less than or equal to 3.00 to 1.00 and no Event of Default shall have occurred and be continuing at the time such Restricted Payment is declared; 

(c)    Holdings may make (I)(a) the payment of the premium to the Hedge Provider due under and determined in accordance
with the Permitted Bond Hedge Transaction or (b) any payments or deliveries to the Hedge Provider required under and determined in accordance with the Permitted Warrant Transaction, in each case described in this clause (b), (i) by delivery of
the Equity Interests of Holdings upon settlement thereof or (ii) by (A) payment of an early termination amount thereof in common stock upon any early termination thereof or (B) set-off against the
related Permitted Bond Hedge Transaction or (II) any payments (other than any payment(s) of any premium(s), prepayment amount(s), strike price(s) or other applicable purchase price, costs, expenses or any other payments (whether absolute or
contingent) for a 

  
 101 

 
Permitted Structured Repurchase Transaction at the time of entry into such Permitted Structured Repurchase Transaction) or deliveries to a Structured Repurchase Dealer required under and
determined in accordance with a Permitted Structured Repurchase Transaction, in each case, (i) by delivery of the Equity Interests of Holdings upon settlement thereof or (ii) by payment of an early termination amount thereof in common
stock upon any early termination thereof; 
 (d)    any Group Member may (A) make Restricted Payments to any Loan
Party and (B) declare and make dividends which are payable solely in the common Equity Interests of such Group Member; 

(e)    any Group Member that is not a Loan Party may make Restricted Payments to any other Group Member that is not a Loan
Party; 
 (f)    each Loan Party may, purchase common Equity Interests or options from present or former officers or
employees of any Group Member upon the death, disability or termination of employment of such officer or employee; provided that no Default or Event of Default then exists or would result therefrom and the aggregate amount of such payments
shall not exceed $1,000,000 during any fiscal year of Holdings; 
 (g)    (A) each Group Member may make repurchases of
capital stock deemed to occur upon exercise of stock options or warrants if such repurchased capital stock represents a portion of the exercise price of such options or warrants, and (B) repurchases of capital stock deemed to occur upon the
withholding of a portion of the capital stock granted or awarded to a current or former officer, director, employee or consultant to pay for the taxes payable by such Person upon such grant or award (or upon vesting thereof); 

(h)    Any Group Member may engage in the unwinding of any Swap Agreement in accordance with its terms; and 

(i)    Holdings and its Subsidiaries may make payments in respect of Deferred Payment Obligations permitted pursuant to
Section 7.02(m). 
 Notwithstanding the foregoing or anything to the contrary contained in any Loan Document, Tax Distributions
may be paid annually or in multiple installments, based on Borrower’s good-faith and reasonable estimate of income to be generated by Holdings’ and its Subsidiaries’ business in any such year or period. 

7.07    Change in Nature of Business. Engage in any material line of business substantially different from those
lines of business conducted by the Borrower and its Subsidiaries on the date hereof or any business reasonably related, complementary, ancillary or incidental thereto. 

7.08    Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of the Borrower,
whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s
length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to (a) transactions between or among the Loan Parties, (b) transactions between or among

  
 102 

 
a Loan Party or Loan Parties and Subsidiaries that are not Loan Parties if such transaction is otherwise permitted by this Agreement, (c) payment of compensation (including bonuses) to,
indemnification of, and other employment-related arrangements with directors, officers, and employees of the Borrower or such Subsidiary entered into in the ordinary course of business, including reimbursement of out-of-pocket expenses and provision of officers’ and directors’ liability insurance and (d) transactions that have been approved by a majority of the disinterested members of the Board of
Directors, as evidenced by resolutions adopted by the Board of Directors and delivered to the Administrative Agent. 

7.09    Burdensome Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement
or any other Loan Document) that (a) limits the ability (i) of any Material Subsidiary to make Restricted Payments to the Borrower or to otherwise transfer property to or invest in the Borrower, except for any agreement in effect
(A) on the date hereof and set forth on Schedule 7.09 or (B) at the time any Subsidiary becomes a Subsidiary of the Borrower, so long as such agreement was not entered into solely in contemplation of such Person becoming a
Subsidiary of the Borrower, (ii) of any Subsidiary to Guarantee the Indebtedness of the Borrower or (iii) of the Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however,
that this clause (iii) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.02(h) solely to the extent any such negative pledge relates to the
property financed by or the subject of such Indebtedness; or (b) requires the grant of a Lien to secure an obligation of such Material Subsidiary if a Lien is granted to secure another obligation of such Material Subsidiary. 

7.10    Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for
such purpose. 
 7.11    Financial Covenants. 

(a)    Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio, determined as at the
end of each fiscal quarter for the period of four fiscal quarters of Holdings then ending, to be less than 3.00:1.00. 

(b)    Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio, determined as at the end of each fiscal
quarter for the period of four fiscal quarters of Holdings then ending, to be greater than 3.25:1.00; provided, that in connection with any Qualified Acquisition, upon written notice from the Borrower to the Administrative Agent delivered not
later than the closing date of such Qualified Acquisition, the required Consolidated Leverage Ratio shall be increased to 3.75:1.00 commencing on the closing date of such Qualified Acquisition and ending on the twelve-month anniversary of such
closing date (such twelve (12) month period, an “Acquisition Holiday”). The Borrower may exercise up to two (2) Acquisition Holidays from and after the Closing Date in connection with separate Qualified Acquisitions;
provided, that the Borrower shall not exercise its second Acquisition Holiday unless the Consolidated Leverage Ratio has been less than or equal to 3.25:1.00 for at least one fiscal quarter following the expiration date of the first
Acquisition Holiday. 

  
 103 

 7.12    Holding Company. In the case of Holdings and Intermediate
Holdings, engage in any business or activity other than (a) the ownership of Equity Interests in, respectively, Intermediate Holdings and the Borrower or other Subsidiaries, (b) maintaining its corporate existence, (c) participating
in tax, accounting and other administrative activities as the parent of the consolidated group of companies, including the Loan Parties, (d) the execution and delivery of the Loan Documents to which it is a party and the performance of its
obligations thereunder, (e) signing leases and guaranteeing obligations under such leases, (f) issuing Permitted Convertible Indebtedness and other Indebtedness otherwise permitted under this Agreement, (g) entering into Permitted
Bond Hedge Transactions, Permitted Structured Repurchase Transactions, Permitted Warrant Transactions and similar transactions, (h) issuing and redeeming Equity Interests otherwise permitted under this Agreement, (i) entering into
employment agreements and providing indemnification and other benefits to officers, directors and employees, (j) taking actions reasonably necessary to maintain its status as a publicly traded company or as required by applicable securities
Laws, (k) activities incidental to the businesses or activities described in clauses (a) through (j) of this Section 7.12, and (l) other activities to the extent permitted by Sections 7.01,
7.02, 7.04, 7.06, 7.12, 7.13 and 7.14. 
 7.13    Sanctions. 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 Person, (A) to fund any activities of or business with any Person that, at
the time of such funding, is the subject of Sanctions, in any Designated Jurisdiction or (B) in any other manner that will result in a violation by any Person (including any Person participating in the Transactions, whether as Lender, Arranger,
Administrative Agent, L/C Issuer, Swing Line Lender, or otherwise) of Sanctions. 
 7.14    Anti-Corruption Laws.
Directly or indirectly use the proceeds of any Credit Extension for any purpose which would breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other anti-corruption legislation in other jurisdictions. 

ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES 

8.01    Events of Default. Any of the following shall constitute an event of default (each, an “Event of
Default”): 
 (a)    Non-Payment. The Borrower or any other Loan
Party fails to (i) pay when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) pay within five Business Days after the
same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) pay within five Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b)    Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in
any of Section 6.03(a), 6.05 (with respect to the preservation of the Borrower’s legal existence), 6.11 or Article VII; or 

  
 104 

 (c)    Other Defaults. Any Loan Party fails to perform or observe
any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the date on
which written notice thereof is delivered by Administrative Agent or any Lender or Borrower; or 

(d)    Representations and Warranties. Any representation, warranty, or certification made or deemed made by or on
behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect in any material respect or misleading in any material respect when made or deemed
made; or 
 (e)    Cross-Default. (i) Any Group Member (A) fails to make any payment when due (whether
by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including
undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount and such failure is not waived and continues beyond any cure period provided
therein, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, in each case, beyond any cure
period provided therein, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on
behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due and payable or to be repurchased, prepaid, defeased or redeemed (automatically or
otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or Cash Collateral in respect thereof to be demanded; or (ii) there occurs under
any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which any Group Member is the Defaulting Party (as defined in such Swap Contract) or
(B) any Termination Event (as so defined in such Swap Contract) under such Swap Contract as to which a Group Member is an Affected Party (as so defined in such Swap Contract) and, in either event, the Swap Termination Value owed by such Group
Member as a result thereof is greater than the Threshold Amount; or 
 (f)    Insolvency Proceedings, Etc. Any
Loan Party or any Material Subsidiary thereof institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any
receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is
appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 consecutive calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material
part of its property is instituted without the consent of such Person and continues undismissed, unvacated, or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 

  
 105 

 (g)    Inability to Pay Debts; Attachment. Any Loan Party or any
Material Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due; or 

(h)    Judgments. There is entered against any Group Member thereof (i) one or more final judgments or orders
for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best
Company, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 45 days during which a stay of enforcement of such
judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (i)    ERISA. (i) An ERISA
Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or would reasonably be expected to result in liability of any Loan Party or ERISA Affiliate to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate
amount in excess of the Threshold Amount, or (ii) any Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under
Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 

(j)    Invalidity of Loan Documents. Any material provision of any Loan Document, at any time after its execution
and delivery and for any reason other than as expressly permitted hereunder or thereunder or occurrence of the Termination Date, ceases to be in full force and effect; or any Loan Party or any Subsidiary of any Loan Party contests in writing or
pursuant to any judicial proceeding the validity or enforceability of any provision of any Loan Document; or any Loan Party denies in writing that it has any or further liability or obligation under any provision of any Loan Document (other than,
with respect to provisions that do not survive the Termination Date, by reason of the Termination Date), or purports to revoke, terminate or rescind any provision of any Loan Document; or 

(k)    Change of Control. There occurs any Change of Control; or 

(l)    Collateral Documents. Any Collateral Document after delivery thereof pursuant to
Section 4.01 or 6.12 shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by Section 7.01) on any
material portion of the Collateral purported to be covered thereby. 
 8.02    Remedies upon Event of Default. If
any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a)    declare the commitment of each Lender to make Loans and any obligation of each L/C Issuer to make L/C Credit
Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

  
 106 

 (b)    declare the unpaid principal amount of all outstanding Loans, all
interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived by the Borrower; 
 (c)    require that the Borrower Cash Collateralize the L/C Obligations (in an
amount equal to the Minimum Collateral Amount with respect thereto); and 
 (d)    exercise on behalf of itself, the
Lenders and the L/C Issuers all rights and remedies available to it, the Lenders and the L/C Issuers under the Loan Documents; 
 provided,
however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of each L/C
Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower
to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender. 

8.03    Application of Funds. After the exercise of remedies provided for in Section 8.02
(or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received
on account of the Obligations shall, subject to the provisions of Sections 2.16, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest
and Letter of Credit Fees) payable to the Lenders and the L/C Issuers (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuers arising under the Loan Documents and amounts payable under Article III),
ratably among them in proportion to the respective amounts described in this clause Second payable to them; 
 Third, to
payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Disbursements and other Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuers in
proportion to the respective amounts described in this clause Third payable to them; 
 Fourth, to payment of that portion of the
Obligations constituting unpaid principal of the Loans, L/C Disbursements and Obligations then owing under Secured Hedge Agreements and Secured Cash Management Agreements, ratably among the Lenders, the L/C Issuers, the Hedge Banks and the Cash
Management Banks in proportion to the respective amounts described in this clause Fourth held by them; 

  
 107 

 Fifth, to the Administrative Agent for the account of the applicable L/C Issuers, to
Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.16; and 

Last, the balance, if any, after the occurrence of the Termination Date, to the Borrower or as otherwise required by Law. 

Subject to Sections 2.03(c) and 2.16, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit
pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such
remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
 Notwithstanding the foregoing,
Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting
documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a party to the Credit Agreement that has given the notice contemplated by
the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party
hereto. 
 ARTICLE IX. ADMINISTRATIVE AGENT 

9.01    Appointment and Authority. 

(a)    Each of the Lenders and the L/C Issuers hereby irrevocably appoints Bank of America to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this Article IX (other than Section 9.06) are solely for the benefit of the Administrative Agent, the Lenders and the L/C
Issuers, and the Borrower shall not have rights as a third party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term)
with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead such term is used as a matter of market custom, and is
intended to create or reflect only an administrative relationship between contracting parties. 
 (b)    The
Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders (including in its capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuers hereby
irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of

  
 108 

 
the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral
agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the
Administrative Agent pursuant to Section 9.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof granted under the Collateral Documents, or for exercising any rights and remedies
thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX and Article XI (including Section 11.04(c)), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the
Loan Documents as if set forth in full herein with respect thereto. 
 9.02    Rights as a Lender. The Person
serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the
Administrative Agent hereunder and without any duty to account therefor to the Lenders. 
 9.03    Exculpatory
Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of
the foregoing, the Administrative Agent: 
 (a)    shall not be subject to any fiduciary or other implied duties,
regardless of whether a Default has occurred and is continuing; 
 (b)    shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent 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 Loan Document or Applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under
any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 

(c)    shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 

(d)    The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or
at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe 

  
 109 

 
in good faith shall be necessary, under the circumstances as provided in Sections 11.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct, as
determined by a court of competent jurisdiction by a final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent
by the Borrower, a Lender or an L/C Issuer. 
 (e)    The Administrative Agent shall not be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents,
(v) the value or the sufficiency of any Collateral or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative
Agent. 
 (f)    The Administrative Agent shall not be responsible or have any liability for, or have any duty to
ascertain, inquire into, monitor or enforce, compliance with the provisions of this Agreement relating to Disqualified Institutions. Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to
ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified Institution or Affiliated Lender or (y) have any liability with respect to or arising out of any assignment or
participation of Loans, or disclosure of confidential information, to any Disqualified Institution or Affiliated Lender. 

9.04    Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not
incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be
genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall
not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the
satisfaction of a Lender or an L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or such
L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall
not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

9.05    Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative

  
 110 

 
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 Related Parties. The
exculpatory provisions of this Article IX shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and
shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or
misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful
misconduct in the selection of such sub-agents. 
 9.06    Resignation of
Administrative Agent. 
 (a)    The Administrative Agent may at any time give notice of its resignation to the
Lenders, the L/C Issuers and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower (such consent not to be unreasonably withheld or delayed), to appoint a successor,
which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its resignation, (or such earlier day as shall be agreed by the Required Lenders and the Borrower) (the “Resignation Effective Date”), then the retiring
Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the qualifications set forth above, provided that in no event shall any such successor
Administrative Agent be a Defaulting Lender or Disqualified Institution. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(b)    If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition
thereof, the Required Lenders may, to the extent permitted by Applicable Law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor, in each case,
with the consent of the Borrower (such consent (x) not to be unreasonably withheld or delayed, and (y) not being required to the extent an Event of Default under Section 8.01(a), (f) or (g) has
occurred and is continuing). If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders and the Borrower) (the
“Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 

(c)    With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring
or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C
Issuers under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments or other
amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to 

  
 111 

 
be made by, to or through the Administrative Agent shall instead be made by or to each Lender and each L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor
Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring (or removed) Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the
Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section 9.06). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article IX and Section 11.04 shall
continue in effect for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them
(i) while the retiring or removed Administrative Agent was acting as Administrative Agent and (ii) after such resignation or removal for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents,
including (a) acting as collateral agent or otherwise holding any collateral security on behalf of any of the Lenders and (b) in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent.

 (d)    Any resignation by Bank of America as Administrative Agent pursuant to this
Section 9.06 shall also constitute its resignation as an L/C Issuer and Swing Line Lender. If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer
hereunder with respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation as an 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 2.03(c). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with
respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to
Section 2.04(c). Upon the appointment by the Borrower of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (i) such successor shall
succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, (ii) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their
respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit issued by it, if any, outstanding at the time of such
succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 

9.07    Non-Reliance on Administrative Agent and Other Lenders. Each Lender
and each L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such 

  
 112 

 
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and each L/C Issuer also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in
taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

9.08    No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Bookrunners or Arrangers
listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an L/C Issuer hereunder. 

9.09    Administrative Agent May File Proofs of Claim; Credit Bidding. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, 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, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of
the Lenders, the L/C Issuers and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuers and the Administrative Agent and their respective agents and counsel
and all other amounts due the Lenders, the L/C Issuers and the Administrative Agent under Sections 2.03(j) and (k), 2.09 and 11.04) allowed in such judicial proceeding; and (b) to collect and receive any monies or
other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and each L/C Issuer to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such
payments directly to the Lenders and the L/C Issuers, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other
amounts due the Administrative Agent under Sections 2.09 and 11.04. 
 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 any L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any L/C
Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or any L/C Issuer or in any such proceeding. 

The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any
portion of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or

  
 113 

 
through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code of the United States, including
under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or acceptance of collateral in lieu of debt
conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any Applicable Law. In connection with any such credit bid and purchase, the Obligations owed to the
Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon
the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments of the
acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (ii) to adopt documents
providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or Equity Interests thereof
shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in clauses (a) through
(j) of Section 11.01 of this Agreement), (iii) the Administrative Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the Lenders, as a result of which each of the
Lenders shall be deemed to have received a pro rata portion of any Equity Interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit bid, all without the need for any Secured
Party or acquisition vehicle to take any further action, and (iv) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better,
because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the Equity Interests
and/or debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any
further action. 
 9.10    Collateral and Guaranty Matters. Without limiting the provisions of
Section 9.09, each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuers irrevocably authorize the Administrative Agent, at its option and in its
discretion, 
 (a)    to release any Lien on any property granted to or held by the Administrative Agent under any Loan
Document (i) upon the Termination Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any other Loan Document
to a Person that is not a Loan Party, (iii) that constitutes Excluded Property, or (iv) if approved, authorized or ratified in writing in accordance with Section 11.01; 

  
 114 

 (b)    to release any Guarantor from its obligations under the Guaranty
if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents; and 

(c)    to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to
the holder of any Lien on such property that is permitted by Section 7.01(i). 
 Upon request by the
Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its
obligations under the Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10, the Administrative Agent will, at the Borrower’s expense, execute and deliver to
the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate its interest in
such item, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 9.10. 

The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the
existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be
responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

9.11    Secured Cash Management Agreements and Secured Hedge Agreements. Except as otherwise expressly set
forth herein or in the Guaranty or any Collateral Documents, no Cash Management Bank or Hedge Bank that obtains the benefits of Section 8.03, the Guaranty or any Collateral by virtue of the provisions hereof
or of the Guaranty or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release
or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative
Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements unless the Administrative Agent
has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. 

9.12    Certain ERISA Matters. 

(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the 

  
 115 

 
Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

(i)    such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise)
of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement, 

(ii)    the transaction exemption set forth in one or more PTEs, such as PTE
84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house
asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, 

(iii)    (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the
meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the
Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

(iv)    such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in
its sole discretion, and such Lender. 
 (b)    In addition, unless either
(1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party,
that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and
this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 

  
 116 

 9.13    Administrative Agent as security trustee for UK Security
Document. For the purposes of any Liens or Collateral created under the UK Security Document, the following additional provisions shall apply. 

(a)    In this Section 9.13, the following expressions have the following meanings: 

“Appointee” means any receiver, administrator or other insolvency officer appointed in respect of any Loan Party or its
assets. 
 “Charged Property” means the assets of the Loan Parties subject to a security interest under the UK Security
Document. 
 “Delegate” means any delegate, agent, attorney or co-trustee appointed
by the Administrative Agent (in its capacity as security trustee). 
 (b)    The Secured Parties appoint the
Administrative Agent to hold the security interests constituted by the UK Security Document on trust for the Secured Parties on the terms of the Loan Documents and the Administrative Agent accepts that appointment. 

(c)    The Administrative Agent, its subsidiaries and associated companies may each retain for its own account and benefit
any fee, remuneration and profits paid to it in connection with (i) its activities under the Loan Documents; and (ii) its engagement in any kind of banking or other business with any Loan Party. 

(d)    Nothing in this Agreement constitutes the Administrative Agent as a trustee or fiduciary of, nor shall the
Administrative Agent have any duty or responsibility to, any Loan Party. 
 (e)    The Administrative Agent shall have
no duties or obligations to any other Person except for those which are expressly specified in the Loan Documents or mandatorily required by applicable law. 

(f)    The Administrative Agent may appoint one or more Delegates on such terms (which may include the power to sub-delegate) and subject to such conditions as it thinks fit, to exercise and perform all or any of the duties, rights, powers and discretions vested in it by the UK Security Document and shall not be obliged to
supervise any Delegate or be responsible to any person for any loss incurred by reason of any act, omission, misconduct or default on the part of any Delegate. 

(g)    The Administrative Agent may (whether for the purpose of complying with any law or regulation of any overseas
jurisdiction, or for any other reason) appoint (and subsequently remove) any person to act jointly with the Administrative Agent either as a separate trustee or as a co-trustee on such terms and subject to
such conditions as the Administrative Agent thinks fit and with such of the duties, rights, powers and discretions vested in the Administrative Agent by the UK Security Document as may be conferred by the instrument of appointment of that person.

  
 117 

 (h)    The Administrative Agent shall notify the Lenders of the
appointment of each Appointee (other than a Delegate). 
 (i)    The Administrative Agent may pay reasonable
remuneration to any Delegate or Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Delegate or Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated,
for the purposes of this Agreement and any Fee Letter, as paid or incurred by the Administrative Agent. 
 (j)    Each
Delegate and each Appointee shall have every benefit, right, power and discretion and the benefit of every exculpation (together “Rights”) of the Administrative Agent (in its capacity as security trustee) under the UK Security
Document, and each reference to the Administrative Agent (where the context requires that such reference is to the Administrative Agent in its capacity as security trustee) in the provisions of the UK Security Document which confer Rights shall be
deemed to include a reference to each Delegate and each Appointee. 
 (k)    Each Secured Party confirms its approval of
the UK Security Document and authorizes and instructs the Administrative Agent: (i) to execute and deliver the UK Security Document; (ii) to exercise the rights, powers and discretions given to the Administrative Agent (in its capacity as
security trustee) under or in connection with the UK Security Document together with any other incidental rights, powers and discretions; and (iii) to give any authorizations and confirmations to be given by the Administrative Agent (in its
capacity as security trustee) on behalf of the Secured Parties under the UK Security Document. 
 (l)    The
Administrative Agent may accept without inquiry the title (if any) which any person may have to the Charged Property. 

(m)    Each other Secured Party confirms that it does not wish to be registered as a joint proprietor of any security
interest constituted by the UK Security Document and accordingly authorizes: (a) the Administrative Agent to hold such security interest in its sole name (or in the name of any Delegate) as trustee for the Secured Parties; and (b) the Land
Registry (or other relevant registry) to register the Administrative Agent (or any Delegate or Appointee) as a sole proprietor of such security interest. 

(n)    Except to the extent that the UK Security Document otherwise requires, any moneys which the Administrative Agent
receives under or pursuant to the UK Security Document may be: (a) invested in any investments which the Administrative Agent selects and which are authorized by applicable law; or (b) placed on deposit at any bank or institution
(including the Administrative Agent) on terms that the Administrative Agent thinks fit, in each case in the name or under the control of the Administrative Agent, and the Administrative Agent shall hold those moneys, together with any accrued income
(net of any applicable Tax) to the order of the Lenders, and shall pay them to the Lenders on demand. 
 (o)    On a
disposal of any of the Charged Property which is permitted under the Loan Documents, the Administrative Agent shall (at the cost of the Loan Parties) execute any release of the UK Security Document or other claim over that Charged Property and issue
any certificates of non-crystallisation of floating charges that may be required or take any other action that the Administrative Agent considers desirable. 

  
 118 

 (p)    The Administrative Agent shall not be liable for: 

(i)    any defect in or failure of the title (if any) which any person may have to any assets over which security is
intended to be created by the UK Security Document; 
 (ii)    any loss resulting from the investment or deposit at any
bank of moneys which it invests or deposits in a manner permitted by the Loan Documents; 
 (iii)    the exercise of,
or the failure to exercise, any right, power or discretion given to it by or in connection with any Loan Document or any other agreement, arrangement or document entered into, or executed in anticipation of, under or in connection with, any Loan
Document; or 
 (iv)    any shortfall which arises on enforcing the UK Security Document. 

(q)    The Administrative Agent shall not be obligated to: 

(i)    obtain any authorization or environmental permit in respect of any of the Charged Property or the UK Security
Document; 
 (ii)    hold in its own possession the UK Security Document, title deed or other document relating to the
Charged Property or the UK Security Document; 
 (iii)    perfect, protect, register, make any filing or give any
notice in respect of the UK Security Document (or the order of ranking of the UK Security Document), unless that failure arises directly from its own gross negligence or willful misconduct; or 

(iv)    require any further assurances in relation to the UK Security Document. 

(r)    In respect of the UK Security Document, the Administrative Agent shall not be obligated to: (i) insure, or
require any other person to insure, the Charged Property; or (ii) make any enquiry or conduct any investigation into the legality, validity, effectiveness, adequacy or enforceability of any insurance existing over such Charged Property. 

(s)    In respect of the UK Security Document, the Administrative Agent shall not have any obligation or duty to any
person for any loss suffered as a result of: (i) the lack or inadequacy of any insurance; or (ii) the failure of the Administrative Agent to notify the insurers of any material fact relating to the risk assumed by them, or of any other
information of any kind, unless Required Lenders have requested it to do so in writing and the Administrative Agent has failed to do so within fourteen (14) days after receipt of that request. 

(t)    Every appointment of a successor Administrative Agent under the UK Security Document shall be by deed. 

  
 119 

 (u)    Section 1 of the Trustee Act 2000 (UK) shall not apply to the
duty of the Administrative Agent in relation to the trusts constituted by this Agreement. 
 (v)    In the case of any
conflict between the provisions of this Agreement and those of the Trustee Act 1925 (UK) or the Trustee Act 2000 (UK), the provisions of this Agreement shall prevail to the extent allowed by law, and shall constitute a restriction or exclusion for
the purposes of the Trustee Act 2000 (UK). 
 (w)    The rights, powers and discretions conferred upon the
Administrative Agent by this Agreement shall be supplemental to the Trustee Act 1925 (UK) and the Trustee Act 2000 (UK) and in addition to any which may be vested in the Administrative Agent by any other Loan Document by general law or otherwise.

 The perpetuity period under the rule against perpetuities if applicable to this Agreement and the UK Security Document shall be 80 years from the date of
this Agreement. 
 ARTICLE X 

[RESERVED] 
 ARTICLE XI
MISCELLANEOUS 
 11.01    Amendments, Etc. Subject to Section 3.03(c) and the last paragraph of
this Section 11.01, no amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the
Required Lenders (or the Administrative Agent with the consent of the Required Lenders) and the Borrower or the applicable Loan Party, as the case may be, and, if not signed by the Administrative Agent, acknowledged by the Administrative Agent (such
acknowledgment not to be unreasonably withheld, conditioned, or delayed), and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such
amendment, waiver or consent shall: 
 (a)    waive any condition set forth in Section 4.01
(other than Section 4.01(c)(i) or (d)) without the written consent of each Lender; 

(b)    without limiting the generality of clause (a) above, waive any condition set forth in
Section 4.02 as to any Credit Extension under the Revolving Credit Facility without the written consent of the Required Lenders; 

(c)    extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to
Section 8.02) without the written consent of such Lender; 
 (d)    postpone any date fixed by
this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent of each Lender entitled to such
payment; 

  
 120 

 (e)    reduce the principal of, or the rate of interest specified herein
on, any Loan or L/C Disbursement, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, or change the manner of
computation of any financial ratio (including any change in any applicable defined term) used in determining the Applicable Rate that would result in a reduction of any interest rate on any Loan or any fee payable hereunder without the written
consent of each Lender entitled to such amount; provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay
interest or Letter of Credit Fees at the Default Rate; 
 (f)    change (i) Section 8.03 or
(ii) the order of application of any reduction in the Commitments or any prepayment of Loans from the application thereof set forth in the applicable provisions of Section 2.06(b),
Section 2.12(f) and Section 2.13, respectively, in any manner that materially and adversely affects any Lender without the written consent of each Lender; 

(g)    change any provision of this Section 11.01 or the definition of “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of
each Lender; 
 (h)    release all or substantially all of the Collateral in any transaction or series of related
transactions, without the written consent of each Lender; 
 (i)    release all or substantially all of the value of the
Guaranty, without the written consent of each Lender, except to the extent the release of any Subsidiary from the Guaranty is permitted pursuant to Section 9.10 (in which case such release may be made by the Administrative
Agent acting alone); or 
 (j)    impose any greater restriction on the ability of any Lender under the Revolving Credit
Facility to assign any of its rights or obligations hereunder without the written consent of each Lender; 
 and provided, further, that
(i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuers in addition to the Lenders required above, directly affect the rights or duties of the L/C Issuers under this Agreement or any Issuer Document relating
to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, directly affect the rights or duties of the Swing
Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, directly affect the rights or duties of the Administrative Agent
under this Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the
consent of the applicable Lenders other than Defaulting Lenders), except that 

  
 121 

 
(x) the Commitment of any Defaulting Lender may not be increased or extended and the maturity date of any of its Loans may not be extended, the rate of interest on any of its Loans may not be
reduced and the principal amount of any of its Loans may not be forgiven, in each case without the consent of such Defaulting Lender and (y) any waiver, amendment, consent or modification requiring the consent of all Lenders or each affected
Lender that by its terms affects any Defaulting Lender more adversely relative to other affected Lenders shall require the consent of such Defaulting Lender. 

Notwithstanding any provision herein to the contrary, if the Administrative Agent and the Borrower acting together identify any ambiguity,
omission, mistake, typographical error or other defect in any provision of this Agreement or any other Loan Document (including the schedules and exhibits thereto), then the Administrative Agent and the Borrower shall be permitted to amend, modify
or supplement such provision to cure such ambiguity, omission, mistake, typographical error or other defect, and such amendment shall become effective without any further action or consent of any other party to this Agreement. 

11.02    Notices; Effectiveness; Electronic Communications. 

(a)    Notices Generally. Except in the case of notices and other communications expressly permitted to be given by
telephone (and except as provided in clause (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by facsimile or electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i)    if to the Borrower, the Administrative Agent, any L/C Issuer or the Swing Line Lender, to the address, facsimile
number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and 

(ii)    if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified
in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating to the Borrower). 
 Notices and other communications sent by hand or
overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided
in sub clause (b) below shall be effective as provided in such clause (b). 
 (b)    Electronic
Communications. Notices and other communications to the Lenders and the L/C Issuers hereunder may be delivered or furnished by electronic communication (including e-mail, FpML messaging, and Internet or
intranet websites) pursuant 

  
 122 

 
to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II if such Lender or
such L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article II by electronic communication. The Administrative Agent, the Swing Line Lender, any L/C Issuer or the Borrower
may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices
or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) 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), and (ii) 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 (i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses
(i) and (ii), if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next
Business Day for the recipient. 
 (c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO
WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE
DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the
Borrower, any Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s, any Loan Party’s or the Administrative
Agent’s transmission of Borrower Materials or notices through the Platform, any other electronic platform or electronic messaging service, or through the Internet. 

(d)    Change of Address, Etc. Each of the Borrower, the Administrative Agent, each L/C Issuer and the Swing Line
Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone number for notices and other
communications hereunder by notice to the Borrower, the Administrative Agent, each L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has
on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.

  
 123 

 
Furthermore, 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 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 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. 

(e)    Reliance by Administrative Agent, L/C Issuers and Lenders. The Administrative Agent, the L/C Issuers and the
Lenders shall be entitled to rely and act upon any notices (including telephonic notices, Committed Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such
notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.
The Borrower shall indemnify the Administrative Agent, each L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given
by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

11.03    No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, any L/C Issuer or the
Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other
Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything
to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers;
provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder
and under the other Loan Documents, (b) any L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and
under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs
of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as
Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed 

  
 124 

 
to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and
subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

11.04    Expenses; Indemnity; Damage Waiver. 

(a)    Costs and Expenses. The Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (limited, in the case of any fees and expenses of legal counsel, to the reasonable and
documented out-of-pocket fees, disbursements and other charges of counsel for the Administrative Agent), in connection with the syndication of the credit facilities
provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable and documented out-of-pocket expenses incurred by the L/C Issuers in connection with the
issuance, amendment, extension, reinstatement or renewal of any Letter of Credit or any demand for payment thereunder and (iii) all out of pocket expenses incurred by the Administrative Agent, any Lender or any L/C Issuer (including the
reasonable and documented out-of-pocket fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or any L/C Issuer), in connection with
the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section 11.04, or (B) in connection with Loans made or Letters of
Credit issued hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of
such Loans or Letters of Credit. 
 (b)    Indemnification by the Borrower. The Borrower shall indemnify the
Administrative Agent (and any sub-agent thereof), each Lender and each L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (limited, in the case of any fees and expenses of legal counsel, to the reasonable, documented fees, charges and disbursements of
one firm of primary counsel for all Indemnitees, and, if reasonably necessary, one firm of local counsel for all Indemnitees in each relevant material jurisdiction and, solely in the case of a conflict of interest, one additional firm of counsel
each group of affected Indemnitees), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any other Loan Party) arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions
contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in
Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any 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), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any 

  
 125 

 
Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not,
as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any other Loan Party against an Indemnitee for a material breach of such Indemnitee’s obligations hereunder or under any other
Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. Without limiting the provisions of Section 3.01(c), this
Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c)    Reimbursement by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any
amount required under clauses (a) or (b) of this Section 11.04 to be paid by it to the Administrative Agent (or any sub-agent thereof), any L/C Issuer, the Swing
Line Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such L/C Issuer, the Swing Line Lender or such Related Party,
as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid
amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based on such Lenders’ Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought), 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), such L/C Issuer or the Swing Line Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent), such L/C Issuer or the Swing Line Lender in connection with such capacity. The obligations of the Lenders under this clause (c) are subject to the provisions of
Section 2.12(d). 
 (d)    Waiver of Consequential Damages, Etc. To the fullest extent
permitted by Applicable Law, no party hereto shall assert, and each party hereto hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee or any other party hereto, on any theory of liability for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages), except to the extent the same are subject to the indemnity contained in Section 11.04(b), arising out of, in connection with, or as a
result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in
clause (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee or other party hereto through
telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

  
 126 

 (e)    Payments. All amounts due under this
Section 11.04 shall be payable not later than ten Business Days after demand therefor. 

(f)    Survival. The agreements in this Section 11.04 and the indemnity provisions of
Section 11.02(e) shall survive the resignation of the Administrative Agent, the L/C Issuers and the Swing Line Lender, the replacement of any Lender, and the Termination Date. 

11.05    Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the
Administrative Agent, any L/C Issuer or any Lender, or the Administrative Agent, any L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to
be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, such L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if
such payment had not been made or such setoff had not occurred, and (b) each Lender and each L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from
or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C
Issuers under clause (b) of the preceding sentence shall survive the Termination Date. 
 11.06    Successors
and Assigns. 
 (a)    Successors and Assigns Generally. The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior
written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of
Section 11.06(b) and (A) in the case of any assignee that, immediately prior to or upon giving effect to such assignment, is an Affiliated Lender, Section 11.07(f)(i) or (B) in the case
of any assignee that is Holdings or any of its Subsidiaries, Section 11.07(h), (ii) by way of participation in accordance with the provisions of Section 11.06(d), or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of Section 11.06(f) (and any other attempted assignment or transfer by any party hereto 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, Participants to the extent provided in clause (d) of this Section 11.06 and, to the
extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuers and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its
rights and obligations under this Agreement (including all or a portion of its Commitment(s) and the Loans (including for purposes of this Section 11.06(b), 

  
 127 

 
participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i)    Minimum Amounts. 

(A)    in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the
Loans at the time owing to it or contemporaneous assignments to related Approved Funds (determined after giving effect to such Assignments) that equal at least the amount specified in clause (b)(i)(B) of this
Section 11.06 in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B)    in any case not described in clause (b)(i)(A) of this Section 11.06, the
aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment,
determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less
than $10,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 

(ii)    Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not (A) apply to the Swing Line Lender’s rights and
obligations in respect of Swing Line Loans or (B) prohibit any Lender from assigning all or a portion of its rights and obligations among the revolving credit facility provided hereunder and any separate revolving credit provided pursuant to
the last paragraph of Section 11.01 on a non-pro rata basis; 

(iii)    Required Consents. No consent shall be required for any assignment except to the extent required by
clause (b)(i)(B) of this Section 11.06 and, in addition: 
 (A)    the consent of the
Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a
Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having
received written notice thereof; 
 (B)    the consent of the Administrative Agent (such consent not to be unreasonably
withheld or delayed) shall be required for assignments in respect of any Commitment if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and 

  
 128 

 (C)    the consent of each L/C Issuer and the Swing Line Lender shall
be required for any assignment of any Commitment if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender. 

(iv)    Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee in the amount 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 it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v)    No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the
Borrower’s Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or
(C) to a natural Person (or a holding company, investment vehicle or trust for, or owned and operated by or for the primary benefit of a natural Person). 

(vi)    Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting
Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate
amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender to the Administrative Agent, any L/C Issuer or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and
participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become
effective under Applicable Law without compliance with the provisions of this clause (vi), then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

(vii)    Subject to acceptance and recording thereof by the Administrative Agent pursuant to clause (c) of
this Section 11.06, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of
Sections 3.01, 3.04, 3.05 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected

  
 129 

 
parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon
request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this clause (b) 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 clause (d) of this Section 11.06. 

(c)    Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such
agency being solely for Tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a register for the recordation of the names
and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in
the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d)    Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural Person, a Defaulting Lender or the Borrower or
any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans
(including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuers shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 11.04(c) without regard to the existence of any
participation. 
 Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall
retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of
the Participant, agree to any amendment, waiver or other modification described in clauses (c), (e), or (i) of the first proviso to Section 11.01 that affects such Participant. The Borrower agrees
that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 (subject to the requirements and limitations therein, including the requirements of Section 3.01(g), it being
understood that the documentation required under Section 3.01(g) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant
to clause (b) of this Section 11.06; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee

  
 130 

 
under clause (b) of this Section 11.06 and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with
respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after
the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of
Section 3.06 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender; provided
that such Participant agrees to be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary
agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents
(the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit
or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such
Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent
(in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(e)    Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release
such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(f)    Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to the contrary
contained herein, if at any time any L/C Issuer/Swing Line Lender assigns all of its Commitment and Revolving Credit Loans pursuant to clause (b) above, such L/C Issuer/Swing Line Lender may, (i) upon 30 days’ notice to the
Administrative Agent, the Borrower and the Lenders, resign as an L/C Issuer and/or (ii) upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as an L/C Issuer or Swing Line Lender, the
Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of the
applicable L/C Issuer/Swing Line Lender as L/C Issuer or Swing Line Lender, as the case may be. If the applicable L/C Issuer resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with
respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation as an 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 2.03(c)). If the Swing Line 

  
 131 

 
Lender resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective
date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C
Issuer and/or Swing Line Lender, (x) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (y) the successor L/C
Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the applicable retiring L/C Issuer to effectively assume the obligations of
the applicable retiring L/C Issuer with respect to such Letters of Credit. 
 (g)    Disqualified Institutions.
(i) Notwithstanding anything to the contrary contained in this Agreement, no assignment or participation shall be made to any Person that was a Disqualified Institution as of the date (the “Trade Date”) on which the applicable
Lender entered into a binding agreement to sell and assign or participate all or a portion of its rights and obligations under this Agreement to such Person (unless the Borrower has consented to such assignment in its sole discretion as otherwise
contemplated by this Section 11.06, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment). For the avoidance of doubt, with respect to any assignee or participant
that becomes a Disqualified Institution after the applicable Trade Date (including as a result of the delivery of a notice pursuant to, and/or the expiration of the notice period referred to in, the definition of “Disqualified
Institution”), (x) such assignee shall not retroactively be disqualified from becoming a Lender and (y) the execution by the Borrower of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee
no longer being considered a Disqualified Institution. Any assignment in violation of this clause (g)(i) shall not be void, but the other provisions of this clause (g) shall apply. 

(ii)    If any assignment is made to any Disqualified Institution without the Borrower’s prior consent in violation
of clause (i) above, or if any Person becomes a Disqualified Institution after the applicable Trade Date, the Borrower may, at its sole expense and effort, upon notice to the applicable Disqualified Institution and the Administrative Agent,
(A) terminate any Commitment of such Disqualified Institution and repay all obligations of the Borrower owing to such Disqualified Institution in connection with such Commitment and/or (B) require such Disqualified Institution to assign
and delegate, without recourse (in accordance with and subject to the restrictions contained in this Section 11.06), all of its interest, rights and obligations under this Agreement and related Loan Documents to an Eligible
Assignee that shall assume such obligations at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire such interests, rights and obligations, in each case plus accrued interest,
accrued fees and all other amounts (other than principal amounts) payable to it hereunder and other the other Loan Documents; provided that (i) the Borrower shall have paid to the Administrative Agent the assignment fee (if any)
specified in Section 11.06(b) and (ii) such assignment does not conflict with Applicable Laws. 

(iii)    Notwithstanding anything to the contrary contained in this Agreement, Disqualified Institutions (A) will
not (x) have the right to receive information, reports or other materials provided to Lenders by the Borrower, the Administrative Agent or any 

  
 132 

 
other Lender, (y) attend or participate in meetings attended by the Lenders and the Administrative Agent, or (z) access any electronic site established for the Lenders or confidential
communications from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of any direction to
the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement or any other Loan Document, each Disqualified Institution will be deemed to have consented in the same proportion as the Lenders
that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws (“Plan of Reorganization”), each
Disqualified Institution party hereto hereby agrees (1) not to vote on such Plan of Reorganization, (2) if such Disqualified Institution does vote on such Plan of Reorganization notwithstanding the restriction in the foregoing clause (1),
such vote will be deemed not to be in good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in
determining whether the applicable class has accepted or rejected such Plan of Reorganization in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any
request by any party for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing clause (2). 

(iv)    The Administrative Agent shall have the right, and the Borrower hereby expressly authorizes the Administrative
Agent, to (A) post the list of Disqualified Institutions provided by the Borrower and any updates thereto from time to time (collectively, the “DQ List”) on the Platform, including that portion of the Platform that is
designated for “public side” Lenders or (B) provide the DQ List to each Lender requesting the same. 

11.07    Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the
L/C Issuers agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates, its auditors and its Related Parties (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such
Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by Applicable Laws or regulations or by any subpoena or similar legal process,
(d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section 11.07, to (i) any assignee of or Participant in, or any prospective assignee of or
Participant in, any of its rights and obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.14 or (ii) any actual or prospective party (or its Related Parties) to
any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder (it being understood that the DQ List may be disclosed to any assignee, or
prospective assignee), in reliance on this clause (f), (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (ii) the CUSIP Service
Bureau or any 

  
 133 

 
similar agency in connection with the application, issuance, publishing and monitoring of CUSIP numbers of other market identifiers with respect to the credit facilities provided hereunder,
(h) with the consent of the Borrower or (i) to the extent such Information (x) is or becomes publicly available other than as a result of a breach of this Section 11.07, (y) is or becomes available to the
Administrative Agent, any Lender, any L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or (z) is independently discovered or developed by a party hereto without utilizing any
Information received from the Borrower or violating the terms of this Section 11.07. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to
market data collectors, similar service providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration of this Agreement, the other Loan Documents, and the Commitments. The Loan Parties
consent to the use and publication of the name, product photographs, logo or trademark of the Loan Parties by the Administrative Agent or any Lender in pitch materials and, in consultation with the Borrower, in customary advertising material
relating to the transactions contemplated hereby. 
 For purposes of this Section 11.07,
“Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the
Administrative Agent, any Lender or any L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof. Any
Person required to maintain the confidentiality of Information as provided in this Section 11.07 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 Each of the
Administrative Agent, the Lenders and the L/C Issuers acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be,
(b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in
accordance with Applicable Law, including United States Federal and state securities Laws. 
 11.08    Right of
Setoff. If an Event of Default shall have occurred and be continuing, each Lender, each L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Applicable Law,
to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, such L/C Issuer or any such
Affiliate to or for the credit or the account of the Borrower or Holdings against any and all of the obligations of the Borrower or Holdings now or hereafter existing under this Agreement or any other Loan Document to such Lender or such L/C
Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or Holdings may be contingent or unmatured or are
owed to a branch or office or Affiliate of such Lender or such L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise
any such right of setoff, (x) all amounts so set off shall be paid over 

  
 134 

 
immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.16 and, pending such payment, shall be segregated by such
Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable
detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, each L/C Issuer and their respective Affiliates under this Section 11.08 are in addition to
other rights and remedies (including other rights of setoff) that such Lender, such L/C Issuer or their respective Affiliates may have. Each Lender and each L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any
such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

11.09    Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the
interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (the “Maximum Rate”). If the Administrative
Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the
interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by Applicable Law, (a) characterize any payment that is not principal as an expense, fee,
or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the
Obligations hereunder. 
 11.10    Counterparts; Integration; Effectiveness. 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. This Agreement, and the other Loan Documents and any
separate letter agreements with respect to fees payable to the Administrative Agent or any L/C Issuer, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other
electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 

11.11    Survival of Representations and Warranties. All representations and warranties made hereunder and in any
other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by
the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any
Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

  
 135 

 11.12    Severability. If any provision of this Agreement or the
other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and
(b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.12,
if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, any L/C Issuer or the Swing Line Lender,
as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 

11.13    Replacement of Lenders. If the Borrower is entitled to replace a Lender pursuant to the provisions of
Section 3.06, or if any Lender is a Defaulting Lender or a Non-Consenting Lender or if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as
a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and the
related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a)    the Borrower shall have paid to the Administrative Agent the assignment fee (if any) specified in
Section 11.06(b); 
 (b)    such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from
the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(c)    in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d)    such assignment does not conflict with Applicable Laws; and 

(e)    in the case of an assignment resulting from a Lender becoming a
Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. 

  
 136 

 A Lender shall not be required to make any such assignment or delegation if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

Each party hereto agrees that (a) an assignment required pursuant to this Section 11.13 may be effected
pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee and (b) the Lender required to make such assignment need not be a party thereto in order for such assignment to be effective and shall
be deemed to have consented to an be bound by the terms thereof; provided that, following the effectiveness of any such assignment, the other parties to such assignment agree to execute and deliver such documents necessary to evidence such
assignment as reasonably requested by the applicable Lender, provided, further that any such documents shall be without recourse to or warranty by the parties thereto. 

Notwithstanding anything in this Section 11.13 to the contrary, (i) any Lender that acts as an L/C Issuer may
not be replaced hereunder at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such Lender (including the furnishing of a backstop letter of credit in form and substance, and issued by an issuer,
reasonably satisfactory to such L/C Issuer or the depositing of Cash Collateral into a Cash Collateral Account in amounts and pursuant to arrangements reasonably satisfactory to such L/C Issuer) have been made with respect to such outstanding Letter
of Credit and (ii) the Lender that acts as the Administrative Agent may not be replaced hereunder except in accordance with the terms of Section 9.06. 

11.14    Governing Law; Jurisdiction; Etc. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY,
DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(a)    SUBMISSION TO JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY AGREE THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, ANY L/C ISSUER, ANY OTHER PARTY HERETO OR ANY RELATED
PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY
SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE 

  
 137 

 
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST A GROUP MEMBER OR THEIR PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(b)    WAIVER OF VENUE. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN CLAUSE (B) OF THIS
SECTION 11.14. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(c)    SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR
NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

11.15    Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
11.15. 
 11.16    No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Group Member acknowledges and agrees that: (i) (A) the arranging and other services regarding
this Agreement provided by the Administrative Agent, the Arranger, and the Lenders are arm’s-length commercial transactions 

  
 138 

 
between each Group Member and its Affiliates, on the one hand, and the Administrative Agent, the Arranger, and the Lenders, on the other hand, (B) each Group Member has consulted its own
legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each Group Member is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and
by the other Loan Documents; (ii) (A) the Administrative Agent, the Arranger and the Lenders each is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will
not be acting as an advisor, agent or fiduciary for any Group Member or any of their Affiliates, or any other Person and (B) neither the Administrative Agent, the Arranger nor any Lender has any obligation to any Group Member
or any of their Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Arranger the Lenders, and
their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Group Members and their Affiliates, and neither the Administrative Agent, the Arranger nor any Lender has any obligation
to disclose any of such interests to the Group Members or their Affiliates. To the fullest extent permitted by law, each Group Member hereby waives and releases any claims that it may have against the Administrative Agent, the Arranger and the
Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

11.17    Electronic Execution of Assignments and Certain Other Documents. The words “execution,”
“execute”, “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment
and Assumptions, amendments or other modifications, Committed Loan Notices, Swing Line Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on
electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any
other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any form
or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

11.18    USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrower and each other Loan Party in accordance with the Act. The Borrower and each other Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all
documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the
Act. 

  
 139 

 11.19    Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Solely to the extent any Lender or L/C Issuer that is an EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in any Loan
Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer that is an EEA Financial Institution arising under any Loan Document, to the
extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities
arising hereunder which may be payable to it by any Lender or L/C Issuer that is an EEA Financial Institution; and 

(b)    the effects of any Bail-In Action on any such liability, including, if
applicable: 
 (i)    a reduction in full or in part or cancellation of any such liability; 

(ii)    a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA
Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
such liability under this Agreement or any other Loan Document; or 
 (iii)    the variation of the terms of such
liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority. 

11.20    Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a
sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which, in accordance with normal banking procedures, the Administrative Agent could purchase the first currency with such
other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents shall,
notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be
discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender, as the case
may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or any Lender
from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of

  
 140 

 
the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be,
agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable law). 

  
 141 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
as of the date first above written. 
  

							
	BORROWER:	 		 	MONOTYPE IMAGING INC., a Delaware corporation
				
		 		 	By:	 	 /s/ Anthony Callini

		 		 	Name:	 	Anthony Callini
		 		 	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer
			
	GUARANTORS:	 		 	MONOTYPE IMAGING HOLDINGS INC., a Delaware corporation
				
		 		 	By:	 	 /s/ Anthony Callini

		 		 	Name:	 	Anthony Callini
		 		 	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer
			
		 		 	IMAGING HOLDINGS CORP., a Delaware corporation
				
		 		 	By:	 	 /s/ Anthony Callini

		 		 	Name:	 	Anthony Callini
		 		 	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer
			
		 		 	MYFONTS INC., a Delaware corporation
				
		 		 	By:	 	 /s/ Anthony Callini

		 		 	Name:	 	Anthony Callini
		 		 	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer

 
			
	MONOTYPE ITC INC., a New York corporation
		
	By:	 	 /s/ Anthony Callini

	Name:	 	Anthony Callini
	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer
	
	OLAPIC, INC., a Delaware corporation
		
	By:	 	 /s/ Anthony Callini

	Name:	 	Anthony Callini
	Title:	 	Executive Vice President, Chief Financial Officer, Assistant Secretary & Treasurer

 
			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Erik M. Truette

	Name:	 	Erik M. Truette
	Title:	 	Vice President

 
			
	BANK OF AMERICA, N.A., as a Lender, an L/C Issuer and a Swing Line Lender
		
	By:	 	 /s/ Robert C. Megan

	Name:	 	Robert C. Megan
	Title:	 	Senior Vice Presiden

 
			
	SILICON VALLEY BANK, as a Lender and an L/C Issuer
		
	By:	 	 /s/ Ryan Aberdale

	Name:	 	Ryan Aberdale
	Title:	 	Vice President

 
			
	SUNTRUST BANK, as a Lender
		
	By:	 	 /s/ John Cappellari

	Name:	 	John Cappellari
	Title:	 	DirectorExhibit 4.1

 

 

PRESS RELEASE

For immediate release

 

Quebecor and Caisse de dépôt et placement du Québec

reach an agreement on the repurchase
 of the Caisse’s interest in Quebecor Media

 

Montreal, May 8, 2018 — Quebecor Inc. (“Quebecor”) is pleased to announce that it entered into an agreement (the “Agreement”) with Quebecor Media Inc. (“Quebecor Media”) and Caisse de dépôt et placement du Québec (the “Caisse”) to repurchase all of the share capital of Quebecor Media still held by the Caisse. The Agreement provides that Quebecor and Quebecor Media purchase 17,628,911 shares, representing a 18.47% stake in Quebecor Media, with respect to which the parties have agreed on a value of $1.690 billion.

 

This Agreement completes the process announced in October 2012 (and continued in September 2015 and in July 2017), as part of the plan to purchase the shares of Quebecor Media held by the Caisse that was introduced by Quebecor, in accordance with its previously stated goal to ultimately own all the shares of Quebecor Media.

 

“Thanks to its currently very favourable financial profile and the substantial amount of cash it has on hand, Quebecor is now in a position to complete the repurchase of the share capital of Quebecor Media initiated in 2012. By gaining access to 100% of the cash flows that it generates, Quebecor will now be better equipped to seize business opportunities that arise. Ultimately, these transactions will allow us to have complete control over our destiny,” stated Pierre Karl Péladeau, President and Chief Executive Officer of Quebecor.

 

“Today, the complete repurchase of the shares reflects Quebecor’s solid financial position and allows the Caisse to reallocate this capital to new investment opportunities in Quebec. Through the convertible debentures, the Caisse is able to maintain an interest in the business, while providing Quebecor with increased financial flexibility to pursue its growth plan. Lastly, the long-standing partnership developed with Quebecor will certainly allow us, in the future, to explore new projects or investment opportunities with the company,” said Michael Sabia, president and chief executive officer of the Caisse.”

 

“Quebecor has always been very proud, in the wake of previous successful investments, such as the creation of Imprimeries Quebecor in 1989, to be a partner of the Caisse. By joining forces and working together on the creation of Quebecor Media, we created a major Québec group that has become a leader in the fields of telecommunications, entertainment, news media and culture. In doing so, we allowed Quebecers to retain control over their technological and cultural levers, while generating substantial benefits for our entire community,” added Pierre Karl Péladeau.

 

These benefits include, in particular, more than 4,000 jobs created at Videotron in the past 15 years, and some $2 billion invested in wireless solutions in order to offer more choices and better prices to Québec consumers. Further benefits include the exceptional contribution of Quebecor and its subsidiaries to the Québec audiovisual content and local journalism, as well as its philanthropic

 

 

contribution to 400 organizations in fields as varied as culture, health, education, the environment and entrepreneurship.

 

Agreement Overview

 

·                  The Agreement provides for the completion of the following two transactions:

· the repurchase for cancellation by Quebecor Media of 16,064,215 shares of Quebecor Media held by the Caisse, representing approximately 91.1% of the Caisse’s interest before closing, for an aggregate purchase price of $1.540 billion, payable in cash; and

 

· the purchase by Quebecor of 1,564,696 shares of Quebecor Media held by the Caisse, representing approximately 8.9% of the Caisse’s interest before closing, in consideration of the issuance of $150-million aggregate principal amount of convertible debentures of Quebecor, which will be convertible into Quebecor Class B Subordinate Shares (the Convertible Debentures), the whole subject to required approvals, including that of the Toronto Stock Exchange.

 

·                  Upon completion of these transactions, Quebecor and Quebecor Media will then have acquired the 18.47% stake in Quebecor Media that Quebecor did not yet have, with Quebecor becoming the sole owner of Quebecor Media.

 

Issuance of Convertible Debentures by Quebecor inc.

 

Subject to the approval of the Toronto Stock Exchange, the Convertible Debentures will have a six-year term maturing in 2024 and will bear interest at an annual rate of 4.0%, payable in accordance with the terms of the trust indenture to be entered into at the time of their issuance. The Convertible Debentures will be convertible into Quebecor Class B Subordinate Voting Shares in accordance with the terms of the trust indenture, subject to a floor price of $26.85 per share (that is, a maximum number of approximately 5,586,592 Quebecor Class B Subordinate Shares corresponding to a ratio of $150 million to the floor price) and a ceiling price of $33.5625 per share (that is, a minimum number of approximately 4,469,274 Quebecor Class B Subordinate Shares corresponding to a ratio of $150 million to the ceiling price), subject to adjustments in accordance with the terms of the trust indenture. The other terms and conditions of the Convertible Debentures are expected to be substantially consistent with the terms of the Convertible Debentures issued under Quebecor’s trust agreement dated October 11, 2012, as amended.

 

Exit Rights and Quebecor Media Shareholders’ Agreement

 

As a result of the completion of the transactions contemplated in the Agreement, the exit rights granted to the Caisse under the agreement entered into at the beginning of the process introduced in 2012, including, the right to require that Quebecor Media carry out an initial public offering (IPO), or the right to sell its remaining interest in Quebecor Media to a financial third party, without providing any right of first refusal or first offer to Quebecor or Quebecor Media, will extinguish at the closing of the operation.

 

 

The parties have also agreed to terminate the shareholders’ agreement between Quebecor, CDP Capital d’Amérique investissements inc. (formerly Capital Communications CDPQ inc.) and Quebecor Media dated October 23, 2000, as consolidated and amended from time to time.

 

Closing

 

The transactions contemplated in the Agreement are currently expected to be fully completed by June 22, 2018, subject to the customary closing conditions for transactions of this nature and the receipt of regulatory approvals, including that of the Toronto Stock Exchange.

 

TD Securities acted as financial advisor to Quebecor on the transaction.

 

This press release does not constitute an offer to sell or the solicitation of an offer to buy or sell securities in any jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The securities referred to herein have not been and will not be qualified for distribution to the public under applicable Canadian securities legislation.

 

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

Cautionary statement regarding forward-looking statements

 

The statements in this press release that are not historical facts are forward-looking statements and are subject to significant known and unknown risks, uncertainties and assumptions which could cause Quebecor’s actual results for future periods to differ materially from those set forth in the forward-looking statements. Forward-looking statements may be identified by the use of the conditional or by forward-looking terminology such as the terms “plans,” “expects,” “may,” “anticipates,” “intends,” “estimates,” “projects,” “seeks,” “believes,” or similar terms, variations of such terms or the negative of such terms. This press release includes forward-looking statements on the following issues: the timing and the completion of the transactions contemplated in the Agreement; the fact that the closings of the transactions are subject to the occurrence of certain events and to the receipt of the necessary approvals, namely that of the Toronto Stock Exchange; and the anticipated benefits of the Agreement (in particular the impact of the Agreement on operations, the structure, capabilities, business and other opportunities, and Quebecor’s overall strategy). Certain factors that may cause actual results to differ from current expectations include seasonality (including seasonal fluctuations in customer orders), operating risk (including fluctuations in demand for Quebecor’s products and pricing actions by competitors), new competition and Quebecor’s ability to retain its current customers and to attract new ones, risks associated with the fragmentation of the advertising market, insurance risk, risks associated with capital investment (including risks related to technological development and equipment availability and breakdown), environmental risks, risks associated with cybersecurity and the protection of personal information, risks associated with collective agreements, credit risk, financial risks, debt risks, risks related to interest rate fluctuations, foreign exchange risks, risks associated with government acts and regulations, risks related to changes in tax legislation, and changes in the general political and economic environment and, as they relate to the Agreement, potential risks include the following:

 

 

non-receipt of regulatory approvals (including the receipt of the approval of the Toronto Stock Exchange) or the delay in receipt thereof or the non-compliance with the conditions related to the implementation of the Agreement or the delay in the implementation thereof; or the occurrence of an event that would allow the Caisse to terminate its obligations under the Agreement. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward-looking statements. The forward-looking statements described in this press release are based on the following significant assumptions regarding the Agreement: compliance with all closing conditions and the performance of the transactions covered by the Agreement according to the planned schedule, including receipt of approvals from the regulatory bodies (including the Toronto Stock Exchange). For more information on the risks, uncertainties and assumptions that could cause Quebecor’s actual results to differ from current expectations, please refer to Quebecor’s public filings available at  <www.sedar.com>  and  <www.quebecor.com>,  including, in  particular,  the “Risks and Uncertainties” section in Quebecor’s Management Discussion and Analysis for the year ended December 31, 2017.

 

The forward-looking statements in this press release reflect Quebecor’s expectations as of the date of this press release and are subject to change after that date. Quebecor expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

 

About Quebecor

 

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.

 

Quebecor (TSX: QBR.A, QBR.B), is headquartered in Québec, and employs more than 10,000 people in Canada.

 

A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.

 

Visit our website: www.quebecor.com

Follow us on Twitter: twitter.com/Quebecor

 

— 30 —

 

	
Source:
    	
Information:
    
	
Jean-François   Pruneau
    	
Communications   department
    
	
Senior Vice   President and Chief Financial Officer
    	
Quebecor Inc.   and Quebecor Media Inc.
    
	
Quebecor Inc.   and Quebecor Media Inc.
    	
medias@quebecor.com
    
	
jean-francois.pruneau@quebecor.com
    	
514 380-4572
    
	
514 380-4144
    	
 
    

 

 

CONVENTION DE VENTE D’ACTIONS

 

ENTRE

 

CDP CAPITAL D’AMÉRIQUE INVESTISSEMENTS INC.

 

ET

 

QUÉBECOR MÉDIA INC.

 

ET

 

QUÉBECOR INC.

 

Le 8 mai 2018

 

 

CONVENTION DE VENTE D’ACTIONS intervenue à Montréal, province de Québec, en date du 8 mai 2018

 

	
ENTRE :
    	
CDP CAPITAL D’AMÉRIQUE   INVESTISSEMENTS INC., une personne morale légalement constituée   en vertu de la Loi sur les sociétés par actions (Québec),   ayant son siège social à l’Édifice Jacques-Parizeau, 1000, place   Jean-Paul Riopelle, Montréal (Québec) H2Z 2B3, représentée par Christian Dubé   et Justin Méthot, dûment autorisés aux fins des présentes tel qu’ils le   déclarent;
    
	
 
    	
 
    
	
 
    	
(CDP Capital d’Amérique)
    
	
 
    	
 
    
	
ET :
    	
QUÉBECOR MÉDIA INC.,   une personne morale légalement constituée en vertu de la Loi sur   les sociétés par actions (Québec), ayant son siège et son   principal établissement au 612, rue St-Jacques, 12e étage, Montréal (Québec)   H3C 4M8, représentée par Jean-François Pruneau et Marc M. Tremblay, dûment   autorisés aux fins des présentes tel qu’ils le déclarent;
    
	
 
    	
 
    
	
 
    	
(QMI)
    
	
 
    	
 
    
	
ET :
    	
QUÉBECOR INC.,   une personne morale légalement constituée en vertu de la Loi sur   les sociétés par actions (Québec), ayant son siège et son   principal établissement au 612, rue St-Jacques, 12e étage, Montréal (Québec)   H3C 4M8, représentée par Jean-François Pruneau et Marc M. Tremblay, dûment   autorisés aux fins des présentes tel qu’ils le déclarent;
    
	
 
    	
 
    
	
 
    	
(QI, et,   collectivement avec QMI, les Acheteurs)
    

 

LESQUELS DÉCLARENT CE QUI SUIT :

 

ATTENDU QUE CDP Capital d’Amérique détient 17 628 911 des 95 441 277 actions ordinaires émises et en circulation de QMI, représentant approximativement 18,47 % de la totalité des actions ordinaires émises et en circulation de QMI;

 

ATTENDU QUE CDP Capital d’Amérique est une filiale détenue en propriété exclusive de la Caisse de dépôt et placement du Québec;

 

ATTENDU QUE les parties aux présentes ont la volonté de compléter la sortie globale de la participation de CDP Capital d’Amérique dans QMI entreprise en 2012;

 

ATTENDU QUE CDP Capital d’Amérique désire vendre à QMI, qui désire acheter, pour fins d’annulation, 16 064 214,76 actions ordinaires émises et en circulation de QMI détenues par CDP Capital d’Amérique conformément aux modalités et conditions contenues aux présentes;

 

ATTENDU QUE CDP Capital d’Amérique désire vendre à QI, à un prix par action identique à celui de la transaction devant intervenir entre QMI et CDP Capital d’Amérique, qui désire acheter, 1 564 696,24 actions ordinaires émises et en circulation de QMI détenues par CDP Capital d’Amérique conformément aux modalités et conditions contenues aux présentes;

 

EN CONSÉQUENCE, LES PARTIES CONVIENNENT DE CE QUI SUIT :

 

1

 

ARTICLE 1 
 DÉFINITIONS ET INTERPRÉTATION

 

1.1                               Définitions

 

Pour les fins de la présente Convention, en plus des mots et expressions définis ailleurs aux présentes, les mots et expressions suivants ont le sens qui leur est attribué ci-dessous :

 

Acheteurs signifie collectivement QMI et QI et Acheteur signifie l’un d’eux, selon le cas;

 

Actions signifie collectivement les Actions QI et les Actions QMI;

 

Actions catégorie A a la signification qui lui est attribuée au sous-paragraphe 3.3.3 des présentes;

 

Actions catégorie B a la signification qui lui est attribuée au sous-paragraphe 3.3.3 des présentes;

 

Actions QI signifie les 1 564 696,24 actions ordinaires de QMI représentant approximativement 8,9 % des actions ordinaires émises et en circulation de QMI détenues par CDP Capital d’Amérique sur une base non-diluée, et devant être vendues à QI conformément aux modalités et conditions des présentes;

 

Actions QMI signifie les 16 064 214,76 actions ordinaires de QMI représentant approximativement 91,1 % des actions ordinaires émises et en circulation de QMI détenues par CDP Capital d’Amérique sur une base non-diluée, et devant être vendues à QMI conformément aux modalités et conditions des présentes;

 

Actions sous-jacentes signifie les Actions catégorie B pouvant être émises lors de la conversion des Débentures convertibles;

 

Approbations gouvernementales signifie toutes les autorisations, dispenses, ordonnances, consentements, directives, avis, licences, permis, enregistrements ou droits semblables émis ou qui doivent être émis par une Autorité gouvernementale;

 

Autorité gouvernementale signifie tout autorité réglementaire ou département ou agence gouvernementale, commission, ministère, bureau, tribunal, société de la couronne ou toute autre entité ayant le pouvoir d’établir des Lois ayant juridiction ou déclarant avoir juridiction pour le compte du Canada ou de toute province, municipalité ou district ou de toute autre subdivision au Canada;

 

CDP Capital d’Amérique signifie CDP Capital d’Amérique Investissements Inc.;

 

Changement défavorable important signifie tout changement résultant de tout événement qui a, ou dont on pourrait raisonnablement s’attendre à ce qu’il ait, un effet défavorable important sur l’entreprise, les affaires, le capital, les opérations, la condition financière ou les propriétés ou les biens d’une Personne et de ses filiales, dans tous les cas, considérés sur une base consolidée;

 

Charge signifie tout hypothèque, servitude, droit de passage, emprise, créance prioritaire, privilège, charge, droit de réclamation, droit sur une communauté de biens, intérêt en equity, option, gage, sûreté, droit de premier refus ou restriction de n’importe quel type, y compris une restriction d’utilisation, de vote, de transfert, d’encaissement d’un revenu ou d’exercice de tout autre attribut de la propriété;

 

2

 

Clôture signifie la réalisation de l’achat par QMI et de la vente par CDP Capital d’Amérique de 10 431 308,29 actions ordinaires de QMI à la Date de clôture conformément au paragraphe 6.1 des présentes;

 

Convention signifie la présente convention ainsi que son préambule et ses annexes, et les expressions des présentes, aux présentes, en vertu des présentes et par les présentes ainsi que les expressions du même genre, réfèrent à la présente Convention;

 

Convention d’amendement à la Convention de crédit signifie une convention d’amendement à la Convention de crédit de QI prévoyant, notamment, l’émission des Débentures convertibles, l’utilisation du produit de leur émission et d’autres opérations afférentes;

 

Convention de crédit de QI signifie la convention de crédit consolidée et modifiée datée du 23 novembre 2007 entre QI, Banque royale du Canada en tant qu’agent administratif, et la caution et les prêteurs nommés aux pages signatures de celle-ci, telle que modifiée;

 

Convention de fiducie signifie une convention de fiducie de QI relative aux Débentures convertibles, substantiellement en la forme de la convention de fiducie de QI, en date du 11 octobre 2012, telle que modifiée en date du 26 avril 2013, et reflétant les modalités relatives aux Débentures convertibles prévues à l’Annexe B de la présente Convention et telle que négociée de bonne foi par CDP Capital d’Amérique et QI, sous réserve du paragraphe 2.6 des présentes;

 

Convention d’inscription QI signifie une convention de droits d’inscription entre QI et CDP Capital d’Amérique, accordant des droits d’inscription sur demande à CDP Capital d’Amérique à l’égard des Débentures convertibles et des Actions sous-jacentes, et telle que négociée de bonne foi par CDP Capital d’Amérique et QI;

 

Convention entre actionnaires signifie la convention entre actionnaires intervenue entre QI, QMI, CDP Capital d’Amérique (auparavant Capital Communications CDPQ inc.), 4032659 Canada Inc. et 4032667 Canada Inc. (auparavant 3804020 Canada Inc. et 2745844 Canada Inc.) en date du 23 octobre 2000, telle que consolidée et modifiée par une entente entre actionnaires en date du 11 décembre 2000, et telle que modifiée par résolution écrite des actionnaires en date du 25 mai 2011, par convention d’amendement en date du 2 octobre 2012 et par résolution écrite des actionnaires en date du 29 juillet 2015;

 

Date de clôture signifie le 11 mai 2018;

 

Date de paiement du solde QMI signifie une date devant être mutuellement convenue par écrit entre QMI et CDP Capital d’Amérique, mais au plus tard le 45e jour suivant la date de la présente Convention;

 

Date de paiement QI signifie une date devant être mutuellement convenue par écrit entre QI et CDP Capital d’Amérique, mais au plus tard le 45e jour suivant la date de la présente Convention;

 

Débentures convertibles signifie des débentures convertibles de QI ayant les modalités prévues à l’Annexe B de la présente Convention et qui seront émises (sous réserve de l’approbation conditionnelle de la TSX et la conclusion de la Convention d’amendement à la Convention de crédit) aux termes de la Convention de fiducie, et sous réserve de la Convention d’inscription QI, à la Date de paiement QI, tel que prévu au paragraphe 2.6 des présentes;

 

Documents d’information continue signifie (i) la notice annuelle de QI datée du 29 mars 2018, (ii) la circulaire de sollicitation de procurations par la direction de QI datée du 29 mars 2018 et préparée dans le cadre de l’assemblée annuelle et extraordinaire des actionnaires de celle-ci devant être tenue à la date de la présente Convention, (iii) les États financiers et (iv) le rapport de

 

3

 

gestion de QI pour les exercices terminés les 31 décembre 2017 et 2016 et le rapport de gestion de QI pour les périodes de trois mois terminées le 31 mars 2018 et 2017;

 

Dommages a la signification qui lui est attribuée au sous-paragraphe 4.2.1 des présentes;

 

Effet défavorable important signifie l’effet résultant de tout Changement défavorable important;

 

États financiers a la signification qui lui est attribuée au sous-paragraphe 3.3.13 des présentes;

 

fait important a la signification qui lui est attribuée dans les Lois canadiennes en valeurs mobilières;

 

Filiale a la signification qui lui est attribuée dans le Règlement 45-106;

 

Filiales importantes signifie QMI, Vidéotron ltée, Groupe TVA inc., 4032659 Canada Inc. et 4032667 Canada Inc.;

 

information fausse ou trompeuse a la signification qui lui est attribuée dans les Lois canadiennes en valeurs mobilières;

 

Items de clôture des Acheteurs signifie tous les items identifiés au sous-paragraphe 6.1.3 des présentes;

 

Items de clôture de CDP Capital d’Amérique signifie tous les items identifiés au sous-paragraphe 6.1.1 des présentes;

 

Jour ouvrable signifie un jour autre que : i) un samedi; ii) un dimanche; iii) un jour férié dans la Province de Québec ou la Province de l’Ontario; ou iv) un jour au cours duquel les succursales des banques canadiennes dans la Province de Québec ou la Province de l’Ontario sont fermées;

 

LIR signifie la Loi de l’impôt sur le revenu (Canada);

 

Loi de 1933 signifie la loi américaine intitulée Securities Act of 1933, dans sa version modifiée;

 

Lois signifie tous les lois, règlements, règles, ordonnances, décrets, instructions, dispenses, directives, avis, instruments et politiques d’une Autorité gouvernementale, y compris notamment les Lois fiscales;

 

Lois canadiennes en valeurs mobilières a la signification qui lui est attribuée au paragraphe 2.7 des présentes;

 

Lois fiscales signifient la LIR et la Loi sur les impôts (Québec) ainsi que toute autre loi canadienne ou étrangère relative aux impôts ou taxes à laquelle QI ou ses Filiales importantes sont ou ont été assujetties;

 

LSAQ signifie la Loi sur les sociétés par actions (Québec);

 

Partie indemnisatrice a la signification qui lui est attribuée au sous-paragraphe 4.2.3 des présentes;

 

Partie indemnisée a la signification qui lui est attribuée au sous-paragraphe 4.2.3 des présentes;

 

Parties signifie toutes les parties signataires de la présente Convention collectivement et Partie signifie l’une d’entre elles, selon le cas;

 

4

 

PCGR signifie les Normes internationales d’information financière (International Financial Reporting Standards) si et lorsque applicables à QI;

 

Personne signifie tout individu, corporation, compagnie, société, fiducie, organisation, association, Autorité gouvernementale ou autre entité reconnue par la Loi;

 

Prix de vente QI a la signification qui lui est attribuée au paragraphe 2.5 des présentes;

 

Prix de vente QMI a la signification qui lui est attribuée au paragraphe 2.2 des présentes;

 

QI signifie Québecor inc.;

 

QMI signifie Québecor Média inc.;

 

Réclamation d’un tiers a la signification qui lui est attribuée au sous-paragraphe 4.2.3 des présentes;

 

Règlement 45-106 a la signification qui lui est attribuée à l’article 2.9;

 

TSX signifie la Bourse de Toronto.

 

1.2                               Lois applicables

 

La présente Convention sera régie et interprétée conformément aux Lois de la Province de Québec et aux Lois du Canada qui y sont applicables.

 

1.3                               Délais

 

Les délais indiqués à la présente Convention sont de rigueur.

 

1.4                               Préambule et annexes

 

Le préambule ainsi que les annexes à la présente Convention en font partie intégrante.

 

1.5                               Devises

 

Sauf indication contraire, tous les montants en dollars mentionnés à la présente Convention sont en devises canadiennes.

 

1.6                               Titres

 

Les titres des articles de la présente Convention ont été insérés uniquement pour en faciliter la lecture et ne peuvent servir à son interprétation.

 

1.7                               Genre et nombre

 

Dans la mesure où le contexte le requiert, le genre masculin employé aux présentes comprend le féminin et vice versa et le singulier comprend le pluriel et vice versa.

 

1.8                               Connaissance

 

Dans la présente Convention, les mentions de la connaissance de QMI ou QI font référence à la connaissance réelle de Jean-François Pruneau et Marc M. Tremblay, ainsi qu’à la connaissance que l’une ou l’autre de ces personnes aurait dû avoir après avoir effectué toute vérification diligente raisonnable sur l’objet pertinent.

 

5

 

1.9                               Annexes

 

Les annexes à la présente Convention, telles qu’énumérées ci-dessous, forment une partie intégrale de la présente Convention :

 

	
Annexe A
    	
Projet de communiqué de presse
    
	
 
    	
 
    
	
Annexe B
    	
Modalités des Débentures convertibles
    

 

ARTICLE 2 
 ACHAT ET VENTE D’ACTIONS

 

2.1                               Achat et vente des Actions QMI

 

Sous réserve des modalités et conditions contenues dans la présente Convention et en contrepartie du Prix de vente QMI, CDP Capital d’Amérique convient de vendre à QMI les Actions QMI et QMI convient de les acheter, pour annulation, en ce qui concerne 10 431 308,29 actions ordinaires de QMI, à la Date de clôture, et en ce qui concerne 5 632 906,47 actions ordinaires de QMI, à la Date de paiement du solde QMI.

 

2.2                               Prix de vente des Actions QMI

 

Le prix de vente total payable par QMI à CDP Capital d’Amérique pour les Actions QMI sera de 1 540 000 000 $ (le Prix de vente QMI), payable selon les modalités de paiement prévues au paragraphe 2.3 des présentes.

 

2.3                               Modalités de paiement des Actions QMI

 

2.3.1                     Sous réserve des modalités et conditions contenues dans la présente Convention, QMI s’oblige à payer et acquitter le Prix de vente QMI par le biais des deux paiements suivants :

 

2.3.1.1           1 000 000 000 $ en espèces par virement bancaire à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) à la Date de clôture;

 

2.3.1.2           le solde du Prix de vente QMI de 540 000 000 $ en espèces par virement bancaire à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) à la Date de paiement du solde QMI.

 

2.3.2                     Les Parties reconnaissent que, sous réserve du paiement à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) de la somme globale de 1 540 000 000 $ en espèces, QMI sera entièrement libérée et déchargée de manière absolue de son obligation de payer le Prix de vente QMI pour les Actions QMI.

 

2.3.3                     Les Parties estiment que le Prix de vente QMI n’est pas supérieur à la juste valeur marchande des Actions QMI à la date des présentes.

 

6

 

2.4                               Achat et vente des Actions QI

 

Sous réserve des modalités et conditions contenues dans la présente Convention et en contrepartie du Prix de vente QI, CDP Capital d’Amérique convient de vendre à QI les Actions QI et QI convient de les acheter à la Date de paiement QI.

 

2.5                               Prix de vente des Actions QI

 

Le prix de vente total payable par QI à CDP Capital d’Amérique pour les Actions QI (le Prix de vente QI) sera payable selon les modalités de paiement prévues au paragraphe 2.6 des présentes.

 

2.6                               Modalités de paiement QI

 

2.6.1                     L’obligation de QI de payer le Prix de vente QI sera satisfaite par l’émission par QI de Débentures convertibles d’un montant en capital de 150 000 000 $ qui seront, sous réserve de l’approbation conditionnelle de la TSX, émises et remises à CDP Capital d’Amérique à la Date de paiement QI. Les Débentures convertibles auront les modalités générales prévues à l’Annexe B de la présente Convention et le Prix de vente QI sera payable suivant les modalités prévues dans les Débentures convertibles.

 

2.6.2                     Nonobstant le sous-paragraphe 2.6.1 des présentes, si (i) QI n’a pas reçu l’approbation conditionnelle de la TSX, (ii) les Parties ne se sont pas entendues sur les modalités des Débentures convertibles (autres que les modalités générales prévues à l’Annexe B de la présente Convention), de la Convention de fiducie ou de la Convention d’inscription QI, dans tous les cas, agissant de manière raisonnable, ou (iii) QI n’a pas obtenu l’approbation du syndicat de prêteurs à l’égard des opérations prévues aux présentes en vertu de la Convention de crédit de QI, le cas échéant, avant la Date de paiement QI, l’obligation de QI de payer le Prix de vente QI sera satisfaite par le paiement de 140 000 000 $ en espèces par virement bancaire à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) à la Date de paiement QI.

 

2.6.3                     Les Parties reconnaissent que, sous réserve (i) de l’émission à CDP Capital d’Amérique des Débentures convertibles aux termes du sous-paragraphe 2.6.1 des présentes, ou (ii) du paiement à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) de la somme globale de 140 000 000 $ en espèces selon le sous-paragraphe 2.6.2 des présentes, selon le cas, QI sera entièrement libérée et déchargée de manière absolue de son obligation de payer le Prix de vente QI pour les Actions QI.

 

2.6.4                     Les Parties estiment que le Prix de vente QI n’est pas supérieur à la juste valeur marchande des Actions QI à la date des présentes.

 

2.7                               Dispense des exigences de prospectus

 

CDP Capital d’Amérique et QI reconnaissent et conviennent que le placement des Débentures convertibles à CDP Capital d’Amérique, le cas échéant, selon les modalités et conditions du sous-paragraphe 2.6.1 des présentes, sera effectué conformément à l’article 2.3 (investisseur qualifié) du Règlement 45-106 sur les dispenses de prospectus (le Règlement 45-106) et sera dispensé des obligations de préparation et dépôt d’un prospectus des Lois en valeurs mobilières applicables au Québec ou ailleurs au Canada (les Lois canadiennes en valeurs mobilières).

 

2.8                               Reconnaissance de CDP Capital d’Amérique

 

Sous réserve des droits prévus dans la Convention d’inscription QI, CDP Capital d’Amérique reconnaît que les Débentures convertibles et les Actions sous-jacentes, selon le cas, seront

 

7

 

assujetties à des restrictions à la revente de ces titres en vertu des Lois canadiennes en valeurs mobilières applicables, incluant le Règlement 45-102 sur la revente de titres, et que les certificats émis aux termes de la présente Convention et la Convention de fiducie porteront une mention énonçant que, sauf disposition contraire des Lois canadiennes en valeurs mobilières, le détenteur des Débentures convertibles et les Actions sous-jacentes devra les conserver pour une période de quatre mois et un jour à compter de la date de l’émission des Débentures convertibles, étant entendu qu’à l’expiration de ladite période de restriction, un certificat ne portant pas de restriction de transfert sera émis sur demande.

 

2.9                               Résiliation de la Convention entre actionnaires

 

À la dernière des dates suivantes : (i) la Date de paiement du solde QMI, et (ii) la Date de paiement QI, les Parties conviennent de résilier et de mettre fin à la Convention entre actionnaires et de signer, et de faire en sorte que leurs Filiales respectives signent, si applicable, un acte de résiliation de la Convention entre actionnaires.

 

ARTICLE 3 
 DÉCLARATIONS ET GARANTIES

 

3.1                               Déclarations et garanties de CDP Capital d’Amérique

 

CDP Capital d’Amérique déclare et garantit à chacun des Acheteurs ce qui suit à la signature de la présente Convention, à la Date de clôture, à la Date de paiement du solde QMI, à la Date de paiement QI ou à tout autre moment indiqué expressément selon le cas, et reconnait que toutes et chacune des déclarations et garanties données ci-après constituent pour chacun des Acheteurs un élément essentiel l’ayant incité à conclure la présente Convention et sans lequel il n’aurait pas conclu celle-ci ou n’aurait pas convenu d’acheter les Actions :

 

3.1.1                     Statut corporatif. CDP Capital d’Amérique est une société constituée et organisée et existe valablement aux termes de la LSAQ.

 

3.1.2                     Capacité. CDP Capital d’Amérique a le pouvoir, l’autorité et la capacité requis pour conclure la présente Convention, s’acquitter de ses obligations aux termes des présentes et exécuter les opérations qui y sont envisagées. Toutes les procédures et approbations corporatives requises ont été remplies ou obtenues afin de permettre à CDP Capital d’Amérique de signer la présente Convention et afin de permettre l’acquittement par CDP Capital d’Amérique de ses obligations qui s’y retrouvent.

 

3.1.3                     Validité de la Convention. La présente Convention a été dûment signée et constitue une obligation exécutoire, valide et légale de CDP Capital d’Amérique qui lui est opposable conformément à ses modalités (sous réserve de la législation d’application générale applicable, notamment en matière de faillite, d’insolvabilité et de restructuration, limitant en général l’exécution des droits des créanciers et sous réserve du fait que l’exécution en nature est un recours en équité pouvant être exercé uniquement à la discrétion d’un tribunal).

 

3.1.4                     Absence de contravention. La présente Convention et les actes de CDP Capital d’Amérique que requière sa mise à exécution ne contreviennent pas aux dispositions de la LSAQ, aux règlements de CDP Capital d’Amérique ou aux Lois de tout territoire auquel CDP Capital d’Amérique est assujettie en rapport avec la vente des Actions et les autres opérations prévues aux présentes.

 

3.1.5                     Absence de consentement. Aucune Approbation gouvernementale ni aucun dépôt auprès de celle-ci n’est requis de la part de CDP Capital d’Amérique relativement à la signature des présentes et à l’exécution des obligations qui y sont comprises.

 

8

 

3.1.6                     Résidence. CDP Capital d’Amérique n’est pas une non-résidente du Canada au sens de la LIR.

 

3.1.7                     Propriété des Actions. CDP Capital d’Amérique est la propriétaire véritable, absolue et inscrite des Actions, en vertu d’un titre de propriété clair, absolu et libre de toute Charge lui permettant d’en disposer à sa guise, de les transférer et d’en effectuer la délivrance aux Acheteurs conformément aux modalités de la présente Convention, sous réserve des modalités de la Convention entre actionnaires. À la Clôture ou à la Date de paiement du solde QMI, le cas échéant et selon ce qui est prévu à l’Article 6 des présentes, CDP Capital d’Amérique transférera à QMI tous ses droits dans les Actions QMI, libres de toute Charge. À la Date de paiement QI, CDP Capital d’Amérique transférera à QI tous ses droits dans les Actions QI, libres de toute Charge.

 

3.1.8                     Options. Il n’existe :

 

(i)                                     aucun contrat, autre que la présente Convention et la Convention entre actionnaires, qui accorde à une Personne le droit d’acheter ou d’acquérir de toute autre façon les Actions;

 

(ii)                                  autre que la Convention entre actionnaires, aucune convention de vote ou de mise en commun ni aucune procuration se rapportant aux Actions.

 

3.1.9                     Litiges. Il n’y a aucun litige, poursuite, action, réclamation ou autre procédure judiciaire de quelque nature en cours par CDP Capital d’Amérique, contre CDP Capital d’Amérique ou impliquant directement ou indirectement CDP Capital d’Amérique qui, suivant une résolution défavorable à celle-ci, pourrait avoir pour effet de limiter ou d’empêcher la vente des Actions par CDP Capital d’Amérique aux Acheteurs, libres de toute Charge; il n’existe aucune ordonnance, directive, décision, injonction, décret ou jugement contre CDP Capital d’Amérique pouvant avoir pour effet de limiter ou d’empêcher la vente des Actions par celle-ci aux Acheteurs, libres de toute Charge.

 

3.1.10              Documentation. CDP Capital d’Amérique signera, livrera ou aidera QI à remplir toute la documentation que les Lois canadiennes en valeurs mobilières applicables peuvent prescrire afin de permettre l’émission des Débentures convertibles aux conditions énoncées aux présentes.

 

3.1.11              Aucun démarchage. CDP Capital d’Amérique reconnaît qu’à sa connaissance, l’émission des Débentures convertibles en faveur de CDP Capital d’Amérique ne résulte pas d’un démarchage général ou d’une publicité générale, incluant des annonces, des articles, des avis ou autres communications publiés dans tout journal, magazine ou média similaire ou diffusés à la radio ou la télévision ou un séminaire ou une réunion dont les participants ont été invités par voie de démarchage général ou publicité générale.

 

3.1.12              Institution financière déterminée. CDP Capital d’Amérique n’est pas une institution financière déterminée aux fins de la LIR.

 

3.1.13              Investisseur qualifié. CDP Capital d’Amérique : i) acquiert les Débentures convertibles (incluant les Actions sous-jacentes) pour son propre compte; et ii) est un investisseur qualifié au sens du paragraphe t) de la définition d’« investisseur qualifié » de l’article 1.1 du Règlement 45-106.

 

3.1.14              Propriété de Titres. En utilisant l’information fournie au sous-paragraphe 3.3.3 de la présente Convention, CDP Capital d’Amérique n’a pas la propriété véritable de titres ni n’exerce d’emprise sur de tels titres, directement ou indirectement, lui assurant plus de 10% des droits de vote rattachés à l’ensemble des titres comportant droit de vote de QI

 

9

 

en circulation, en appliquant les dispositions de l’article 1.6 du Règlement 61-101 sur les mesures de protection des porteurs minoritaires lors d’opérations particulières et de l’article 1.8 du Règlement 62-104 sur les offres publiques d’achat et de rachat.

 

3.2                               Déclarations et garanties de QMI

 

QMI déclare et garantit à CDP Capital d’Amérique ce qui suit à la signature de la présente Convention, à la Date de clôture ou à tout autre moment indiqué expressément selon le cas, et reconnait que toutes et chacune des déclarations et garanties données ci-après constituent pour CDP Capital d’Amérique un élément essentiel l’ayant incité à conclure la présente Convention et sans lequel elle n’aurait pas conclu celle-ci ou n’aurait pas convenu de vendre les Actions :

 

3.2.1                     Statut corporatif. QMI est une société constituée et organisée et existe valablement aux termes de la LSAQ.

 

3.2.2                     Capacité et exécution des obligations. QMI a le pouvoir, l’autorité et la capacité requis pour conclure la présente Convention, s’acquitter de ses obligations aux termes des présentes et exécuter les opérations qui y sont envisagées. Toutes les procédures et approbations corporatives requises ont été remplies ou obtenues afin de permettre à QMI de signer la présente Convention et afin de permettre l’acquittement par QMI de ses obligations qui s’y retrouvent.

 

3.2.3                     Validité de la Convention. La présente Convention a été dûment signée et constitue une obligation exécutoire, valide et légale de QMI qui lui est opposable conformément à ses modalités (sous réserve de la législation d’application générale applicable, notamment en matière de faillite, d’insolvabilité et de restructuration, limitant en général l’exécution des droits des créanciers et sous réserve du fait que l’exécution en nature est un recours en équité pouvant être exercé uniquement à la discrétion d’un tribunal).

 

3.2.4                     Absence de contravention. La présente Convention et les actes que requière sa mise à exécution ne contreviennent pas aux dispositions de la LSAQ (incluant pour plus de certitude les articles 95 et 96 de la LSAQ) et des documents constitutifs ou des règlements de QMI ou à toute convention écrite ou verbale à laquelle QMI est partie en rapport avec l’achat des Actions QMI ou aux Lois de tout territoire auquel QMI est assujettie en rapport avec l’achat des Actions QMI.

 

3.2.5                     Absence de consentement. Aucune Approbation gouvernementale, ni aucune approbation ou consentement d’une tierce partie, ni aucun dépôt auprès de celles-ci n’est requis de la part de QMI relativement à la signature des présentes et à l’exécution des obligations qui y sont comprises ou celles qui sont comprises dans tout contrat ou document accessoire, sauf pour le dépôt de rapports sur formulaire 6 K fournis à la Securities and Exchange Commission des États-Unis et de dépôts d’avis postérieurement à la Clôture.

 

3.2.6                     Aucune poursuite judiciaire. Il n’y a aucune poursuite judiciaire en instance ou, à la connaissance de QMI, imminente ni aucune circonstance qui pourrait vraisemblablement donner lieu à une telle poursuite, dans chaque cas de nature à entraver d’une manière quelconque l’achat des Actions QMI ou le paiement du Prix de vente QMI ou encore la conclusion de l’une des opérations prévues dans la présente Convention.

 

3.2.7                     Aucune commission. QMI n’a convenu de payer à quiconque quelque commission, frais de courtage, honoraires de démarcheur ou tout autre paiement semblable relativement à l’achat des Actions QMI aux termes de la présente Convention ou relativement à toute autre transaction prévue aux présentes.

 

10

 

3.3                               Déclarations et garanties de QI

 

QI déclare et garantit à CDP Capital d’Amérique ce qui suit (i) à la signature de la présente Convention, (ii) dans la mesure où le placement des Débentures convertibles à CDP Capital d’Amérique a lieu selon les modalités et conditions du sous-paragraphe 2.6.1 des présentes, à la Date de paiement QI, ou (iii) à tout autre moment indiqué expressément selon le cas, et reconnait que toutes et chacune des déclarations et garanties données ci-après constituent pour CDP Capital d’Amérique un élément essentiel l’ayant incité à conclure la présente Convention et sans lequel elle n’aurait pas conclu celle-ci ou n’aurait pas convenu de vendre les Actions :

 

3.3.1                     Statut corporatif. QI et chacune de ses Filiales importantes sont dûment constituées et organisées et existent valablement en vertu des Lois qui régissent leurs existences et ont le droit d’exercer leurs activités en vertu des Lois de chaque territoire dans lequel elles exercent leurs activités respectives.

 

3.3.2                     Capacité. QI et chacune de ses Filiales importantes ont le pouvoir, l’autorité et la capacité requis pour posséder, louer et exploiter leurs biens et actifs et pour exercer leurs activités telles qu’elles l’exercent actuellement.

 

3.3.3                     Capital-actions. Le capital-actions autorisé de QI est composé d’un nombre illimité d’actions catégorie A (droits de vote multiples) (les Actions catégorie A) et d’un nombre illimité d’actions catégorie B (comportant droit de vote) (les Actions catégorie B), et dont seulement 77 324 844 Actions catégorie A et 156 082 284 Actions catégorie B sont émises et en circulation comme entièrement libérées et non susceptibles d’appel subséquent en date du 30 avril 2018. En date du 30 avril 2018, il y avait 680 000 options d’achat d’actions de QI émises et en circulation permettant de souscrire à des Actions catégorie B ou de recevoir de QI un paiement en espèces ainsi que des débentures subordonnées non garanties convertibles 4,125 % échéant en 2018 d’un capital global de 412 500 000 $.

 

3.3.4                     Défauts. Ni QI ni aucune de ses Filiales importantes ne viole ses documents constitutifs ni n’est en défaut en ce qui concerne l’exécution ou le respect d’une obligation, d’une convention, d’un engagement ou d’une condition importante figurant dans un contrat, une convention, un acte de fiducie, une hypothèque, un contrat de prêt, un billet, un bail ou une autre convention ou un autre instrument auquel elle est partie ou qui la lie ou lie ses biens, sauf pour tout défaut qui n’a pas un Effet défavorable important pour QI.

 

3.3.5                     Filiales importantes. Sauf (i) tel qu’il est divulgué dans les Documents d’information continue ou (ii) à l’égard des Charges consenties ou permises en vertu des conventions de crédit de QI et/ou de ses Filiales, la totalité des actions ou autres titres de participation que détient QI dans ses Filiales importantes sont libres et quittes de toute Charge. Aucune Personne n’a quelque entente ou option, ou droit ou privilège (de préemption ou contractuel) pouvant devenir une convention ou une option pour l’émission d’actions ou d’autres titres de QI ou de QMI, sauf dans le cadre de la Convention entre actionnaires, en vertu de la convention de fiducie de QI en date du 11 octobre 2012, tel que modifié en date du 26 avril 2013, et des régimes de rémunération ou d’autres régimes similaires visant l’achat d’actions ou d’autres titres de QI ou de QMI divulgués dans les Documents d’information continue ou les États Financiers ou tel que prévu aux présentes.

 

3.3.6                     Restrictions d’opérations. Aucune ordonnance ni décision, ni aucun jugement portant cessation, interdiction ou restriction d’opérations sur les valeurs mobilières de QI n’a été rendu et est présentement en cours et, à la connaissance de QI, aucune procédure ni enquête en ce sens n’est en cours, envisagée ni imminente.

 

3.3.7                     Émetteur assujetti. QI est un émetteur assujetti ou a un statut équivalent en règle dans toutes les provinces du Canada en vertu des Lois canadiennes en valeurs mobilières et

 

11

 

se conforme à tous égards importants à l’ensemble des obligations d’information continue applicables en vertu des Lois canadiennes en valeurs mobilières. QI n’est pas sur une liste de défaut d’une commission des valeurs mobilières ou l’équivalent d’une province du Canada.

 

3.3.8                     Documents d’information continue. Les renseignements et énoncés contenus dans les Documents d’information continue étaient véridiques et exacts à tous égards importants, et ne renfermaient aucune information fausse ou trompeuse et révélaient, de façon complète, véridique et claire, tout fait important relatif à QI et à ses Filiales, aux dates auxquelles les Documents d’information continue ont été préparés. Les Documents d’information continue étaient conformes à tous égards importants aux exigences des Lois canadiennes en valeurs mobilières aux dates auxquelles les Documents d’information continue ont été préparés et déposés. À la connaissance de QI, QI n’est pas visée par un examen d’un organisme de réglementation des valeurs mobilières relativement à ses Documents d’information continue.

 

3.3.9                     Aucun changement. Sauf tel qu’il est divulgué dans les Documents d’information continue, il n’est survenu aucun Changement défavorable important touchant QI depuis le 1er avril 2018.

 

3.3.10              Dépôts. Aucun document déposé de façon confidentielle auprès des autorités en valeurs mobilières ne demeure confidentiel à la date des présentes.

 

3.3.11              Inscription. Les Actions catégorie A et les Actions catégorie B de QI émises et en circulation sont inscrites et affichées à des fins de négociation à la TSX et QI respecte les règles et règlements de la TSX à tous égards importants.

 

3.3.12              Livres et registres. Les livres et registres corporatifs de QI et de ses Filiales importantes reflètent, sous leurs aspects essentiels, toutes les décisions de leurs administrateurs (y compris en leur qualité de membres de tout comité du conseil d’administration de QI) et actionnaires respectifs, et ne révèlent aucune illégalité ou irrégularité ayant un Effet défavorable important pour QI.

 

3.3.13              États financiers. Les états financiers consolidés audités de QI pour les exercices terminés les 31 décembre 2017 et 2016, ainsi que les notes et les rapports d’auditeur s’y rapportant, et les états financiers consolidés intermédiaires de QI pour les périodes de trois mois terminées les 31 mars 2018 et 2017, ainsi que les notes s’y rapportant (collectivement, les États financiers) (i) représentent fidèlement la situation financière, les résultats d’exploitation et les flux de trésorerie de QI et ses Filiales à leurs dates respectives et pour les périodes qui y sont indiquées, et (ii) ont été préparés conformément aux PCGR.

 

3.3.14              Opérations hors bilan. Sauf tel que spécifiquement divulgué aux États financiers, il n’y a pas d’opérations, d’arrangements, d’obligations (y compris des obligations conditionnelles) hors bilan ou avec une partie reliée ni d’autres relations d’importance de QI ou d’une de ses Filiales importantes avec des entités non consolidées ou d’autres Personnes susceptibles d’avoir un effet actuel ou futur important sur la situation financière, l’évolution de la situation financière, les résultats d’exploitation, les liquidités, les dépenses en immobilisations, les ressources en capital ou les éléments importants de revenus ou de dépenses de QI et de ses Filiales importantes, dans leur ensemble; il n’y a eu aucune dévaluation importante d’actifs approuvée par le conseil d’administration de QI qui n’a pas été divulguée.

 

3.3.15              Impôts. La totalité des taxes et impôts (y compris l’impôt sur le revenu, l’impôt ou taxe sur le capital, les charges sociales, les cotisations de l’employeur à l’assurance santé, les cotisations à l’indemnisation des accidents du travail, les impôts fonciers, les droits de

 

12

 

douane et les droits de cession immobilière), des droits, des redevances, des prélèvements, des cotisations, des déductions, des charges ou retenues et de la totalité des obligations à cet égard, y compris toute pénalité et tout intérêt payable à cet égard exigibles et payables ou devant être perçus ou retenus et versés par QI et les Filiales importantes ont été payés, perçus ou retenus et versés, selon le cas, et la totalité des déclarations fiscales, paiements d’impôt et autres documents devant être produits par QI et les Filiales ont été produits auprès de toutes les Autorités gouvernementales compétentes, sauf dans le cas où le défaut de payer, de percevoir, de retenir, de verser ou de produire, selon le cas, n’entraînerait pas d’Effet défavorable important pour QI. Sauf pour les cotisations ou réclamations qui font l’objet d’une contestation menée de bonne foi et pour lesquelles une provision suffisante a été prise dans les états financiers de QI ou de la Filiale dont il s’agit, il n’existe aucune cotisation ou réclamation toujours pendante des autorités fiscales contre QI ou l’une ou l’autre de ses Filiales importantes en matière de taxes ou d’impôts ou à l’égard d’un autre type de prélèvement décrit au présent paragraphe qui, si elle n’était pas acquittée, entraînerait un Effet défavorable important pour QI.

 

3.3.16              Passif fiscal. Exception faite de ce qui est indiqué dans les Documents d’information continue, il n’y a pas de passif fiscal à l’égard des obligations de QI et de chacune de ses Filiales importantes relativement aux Lois fiscales applicables et qui a été, ou à la connaissance de QI, sera vraisemblablement réclamé à QI, à chacune de ses Filiales importantes ou à l’égard de ses biens ou actifs, exception faite des violations qui n’auraient pas d’Effet défavorable important pour QI.

 

3.3.17              Opérations sur dérivés. QI n’a connaissance d’aucun défaut ou de circonstances qui, avec la remise d’un avis ou de l’écoulement du temps (ou les deux) donneraient lieu à un défaut, par quelque contrepartie, à une opération sur dérivés conclue avec QI ou l’une de ses Filiales importantes qui pourraient raisonnablement avoir un Effet défavorable important pour QI.

 

3.3.18              Contrôles internes. QI a conçu ou fait concevoir : i) des contrôles et procédures de communication de l’information (CPCI) pour fournir l’assurance raisonnable que (a) l’information importante relative à QI et ses Filiales est communiquée aux dirigeants appropriés, en particulier pendant la période où les documents annuels sont établis et (b) l’information qui doit être présentée par QI dans ses documents annuels, ses documents intermédiaires ou d’autres rapports qu’elle dépose ou transmet en vertu des Lois canadiennes en valeurs mobilières est enregistrée, traitée, condensée et présentée dans les délais prescrits par ces lois et ne contient pas d’information fausse ou trompeuse ou n’omette de déclarer un fait important; et ii) le contrôle interne à l’égard de l’information financière (CIIF) pour fournir l’assurance raisonnable que l’information financière est fiable et que les états financiers ont été établis, aux fins de publication de l’information financière, conformément aux PCGR de QI; sous réserve que l’étendue des CPCI et du CIIF est limitée afin d’exclure des contrôles, politiques et procédures les entités et entreprises suivantes : (a) toute entité consolidée par intégration proportionnelle dans laquelle QI a une participation et (b) l’information financière sommaire concernant l’entité consolidée par intégration proportionnelle, de l’entité à détenteurs de droits variables ou de l’entreprise acquise par QI qui a été consolidée par intégration proportionnelle ou qui a été consolidée dans les états financiers de QI.

 

3.3.19              Charges hors du cours normal des activités. Sauf tel que divulgué dans les Documents d’information continue, depuis le 1er avril 2018 et à l’exception des transactions prévues aux présentes, ni QI ni aucune de ses Filiales importantes n’a engagé, pris en charge ou endossé quelque responsabilité, charge ou passif (absolu, exigible, éventuel ou autre) ni n’a conclu quelque opération qui, dans un cas ou dans l’autre, est ou dont on pourrait raisonnablement s’attendre à ce qu’elle soit importante pour QI et ses Filiales importantes, dans leur ensemble, et qui n’est pas dans le cours normal de leurs activités.

 

13

 

3.3.20              Actions et poursuites. Sauf tel que divulgué dans les Documents d’information continue, il n’y a pas d’action, de poursuite ou d’instance au nom de QI ou de l’une de ses Filiales importantes ou à leur encontre qui est en cours ou, à sa connaissance, est imminente visant ou touchant QI ou l’une de ses Filiales importantes, en droit ou en équité de la part de toute Personne ou auprès ou de la part d’un ministère, d’une commission, d’un conseil, d’un bureau, d’un intermédiaire fédéral, provincial, municipal ou gouvernemental national ou étranger ou de tout autre Autorité gouvernementale, et qui pourrait avoir un Effet défavorable important pour QI. QI n’est au courant d’aucune poursuite judiciaire en instance ou imminente ni d’aucune circonstance qui pourrait vraisemblablement donner lieu à une telle poursuite de nature à entraver d’une manière quelconque l’achat des Actions QI ou le paiement du Prix de vente QI ou encore la conclusion de l’une des opérations prévues dans la présente Convention, la Convention de fiducie et la Convention d’inscription QI, incluant l’émission et la livraison des Débentures convertibles et des Actions sous-jacentes.

 

3.3.21              Approbations gouvernementales. QI et chacune de ses Filiales importantes possèdent et respectent les Approbations gouvernementales nécessaires à la conduite de l’entreprise qu’elles exploitent actuellement, sauf les Approbations gouvernementales qui, dans l’éventualité où QI et chacune de ses Filiales importantes ne les possèdent ou respectent pas, n’auraient pas d’Effet défavorable important pour QI.

 

3.3.22              Titres. QI et chacune de ses Filiales détiennent à l’égard de tous les biens qui leur appartiennent un titre valable qui est dans chaque cas libre et quitte de toute Charge, à l’exception des Charges consenties ou permises en vertu des conventions de crédit de QI et/ou ses Filiales, de celles en faveur de QI et/ou ses Filiales, ou de celles qui n’auraient pas d’Effet défavorable important pour QI. La totalité des contrats de location et de sous-location qui sont importants pour l’entreprise de QI et de chacune de ses Filiales et en vertu desquels QI ou l’une de ses Filiales détient des biens sont pleinement en vigueur, exception faite (A) de ceux décrits dans les Documents d’information continue ou (B) de ceux qui, individuellement ou collectivement, (i) ne touchent pas de façon importante la valeur de tous ces biens et (ii) ne nuisent pas à l’utilisation que QI fait et se propose de faire de tous ces biens.

 

3.3.23              Propriété intellectuelle. QI et chacune de ses Filiales importantes détiennent ou possèdent, ou ont un droit d’utilisation des brevets, droits de brevet, licences, inventions, droits d’auteur, savoir-faire (y compris les secrets commerciaux et autres renseignements, systèmes ou procédures non brevetés et/ou exclusifs ou confidentiels non brevetables), marques de commerce, marques de service, dénominations commerciales ou autre propriété intellectuelle pertinents nécessaires à la poursuite de l’entreprise telle qu’elles l’exploitent actuellement, sauf si le défaut de détenir ou de posséder ce droit n’a ou n’aurait pas d’Effet défavorable important pour QI.

 

3.3.24              Respect des Lois. QI et chaque Filiale respectent les Lois applicables à leur égard ou à l’égard de quelque partie de leurs activités ou actifs respectifs, à l’exception de la non-conformité, des violations et des défauts dont, individuellement ou collectivement, on ne s’attendrait pas à ce qu’ils aient un Effet défavorable important pour QI.

 

3.3.25              Capacité et exécution des obligations. QI a le pouvoir, l’autorité et la capacité requis pour conclure la présente Convention et, à la Date de paiement QI, aura le pouvoir, l’autorité et la capacité requis pour conclure la Convention de fiducie et la Convention d’inscription QI, s’acquitter de ses obligations aux termes de ces ententes et exécuter les opérations qui y sont envisagées, incluant l’émission et la livraison des Débentures convertibles et des Actions sous-jacentes. Toutes les procédures et approbations corporatives requises ont été remplies ou obtenues afin de permettre à QI de signer la présente Convention, la Convention de fiducie et la Convention d’inscription QI et afin de permettre l’acquittement par QI de ses obligations qui s’y retrouvent.

 

14

 

3.3.26              Validité de la Convention. La présente Convention a été dûment signée et constitue une obligation exécutoire, valide et légale de QI qui lui est opposable conformément à ses modalités (sous réserve de la législation d’application générale applicable, notamment en matière de faillite, d’insolvabilité et de restructuration, limitant en général l’exécution des droits des créanciers et sous réserve du fait que l’exécution en nature est un recours en équité pouvant être exercé uniquement à la discrétion d’un tribunal).

 

3.3.27              Validité de la Convention de fiducie et de la Convention d’inscription QI. Le cas échéant, selon les modalités du paragraphe 2.6 des présentes, à la Date de paiement QI, chacune de la Convention de fiducie et de la Convention d’inscription QI sera dûment signée et constituera une obligation exécutoire, valide et légale de QI qui lui sera opposable conformément à ses conditions (sous réserve de la législation d’application générale applicable, notamment en matière de faillite, d’insolvabilité et de restructuration, limitant en général l’exécution des droits des créanciers et sous réserve du fait que l’exécution en nature est un recours en équité pouvant être exercé uniquement à la discrétion d’un tribunal).

 

3.3.28              Aucune commission. QI n’a convenu de payer à quiconque quelque commission, frais de courtage, honoraires de démarcheur ou tout autre paiement semblable relativement à l’achat des Actions QI, ou relativement à toute autre transaction prévue aux présentes.

 

3.3.29              Débentures convertibles. Sous réserve de l’approbation conditionnelle de la TSX, l’émission des Débentures convertibles (incluant les Actions sous-jacentes) conformément aux conditions de la présente Convention et de la Convention de fiducie, et sous réserve de la Convention d’inscription QI, a été autorisée par toutes les mesures nécessaires de QI et, sous réserve de l’approbation de la TSX, lors de la conversion des Débentures convertibles en Actions sous-jacentes conformément à la présente Convention et à la Convention de fiducie, les Actions sous-jacentes seront valablement émises et en circulation en tant qu’Actions catégorie B entièrement libérées et non susceptibles d’appel subséquent et libres de tous privilèges et de toutes Charges, et aucun actionnaire de QI ni aucune autre Personne ne dispose de droits de souscription à l’égard de l’émission d’autres Actions catégorie B de QI, sauf dans le cadre des débentures convertibles émises sous la convention de fiducie de QI, en date du 11 octobre 2012, tel que modifié en date du 26 avril 2013 et des régimes de rémunération ou d’autres régimes visant l’achat d’actions ou d’autres titres de QI divulgués dans les Documents d’information continue ou tel que prévu aux présentes.

 

3.3.30              Absence de consentement, contravention et Charge. La signature de la présente Convention, de la Convention de fiducie et de la Convention d’inscription QI, le respect des conditions prévues à ces ententes et la réalisation des opérations qui y sont envisagées, incluant sans limitation l’émission et la livraison des Débentures convertibles et des Actions sous-jacentes, le cas échéant :

 

(i)             ne nécessitent pas ni ne nécessiteront le consentement, l’approbation, le permis, l’autorisation ou le visa de quelque Autorité gouvernementale, bourse, commission de valeurs mobilières ou autre commission ou organisme de réglementation, ni quelque inscription ou dépôt auprès de l’un d’eux, sauf l’approbation de la TSX à l’égard des opérations prévues aux présentes, le dépôt de la présente Convention et le dépôt de déclarations aux termes des Lois canadiennes en valeurs mobilières, incluant, sans limitation, conformément au Règlement 45-106;

 

(ii)          n’entraînent pas ni n’entraîneront une violation ou un défaut, et ne créent pas ni ne créeront une situation de fait qui, après avis ou écoulement du temps ou les deux, entraînera une violation ou un défaut, et ne sont pas ni ne seront incompatibles quant à quelque disposition des statuts ou des règlements de QI

 

15

 

ou de ses Filiales importantes ou quelque résolution des administrateurs de QI ou de l’une de ses Filiales importantes ou d’un comité de celles-ci ou de quelque acte, convention ou autre instrument auquel QI est partie ou qui la lie contractuellement; ou quant à quelque Loi applicable à QI, y compris, notamment, les Lois canadiennes en valeurs mobilières ou la LSAQ, ou à quelque jugement, décision, ordonnance, loi, règle ou règlement applicable à QI ou à l’une de ses Filiales importantes, dans la mesure où la Convention d’amendement à la Convention de crédit de QI soit signée à ou avant la Date de paiement QI, et sauf en ce qui concerne les contrats, Lois, jugements, décisions et ordonnances pour une violation ou un défaut qui n’auraient pas d’Effet défavorable important pour QI;

 

(iii)       ne donneront pas lieu à une Charge sur les biens ou les actifs dont QI ou l’une des Filiales importantes est propriétaire à la date des présentes ou dont elle fera l’acquisition après cette date ou à une Charge y ayant trait ou encore à l’avancement de l’échéance ou à l’échéance d’une dette ou d’autres passifs ou obligations aux termes d’un acte, d’une hypothèque, d’un bail, d’une convention ou d’un instrument qui lie QI ou l’une des Filiales importantes ou qui vise celles-ci ou un de leurs biens respectifs, sauf pour toute Charge, avancement ou échéance qui n’aurait pas d’Effet défavorable important pour QI.

 

ARTICLE 4 

SURVIE DES ENGAGEMENTS, DÉCLARATIONS ET GARANTIES; INDEMNISATION

 

4.1                               Survie des déclarations et garanties

 

4.1.1                     Toutes les déclarations et garanties énoncées aux présentes continueront d’avoir plein effet et vigueur pour une période d’un (1) an à compter de la Date de clôture, et étant entendu que, en cas de fraude, les indemnités relatives aux déclarations et garanties demeureront en vigueur pour une période illimitée.

 

4.1.2                     Pour plus de certitude, les conventions et engagements respectifs de CDP Capital d’Amérique et de chacun des Acheteurs contenus dans les présentes ne sont pas limités dans le temps et survivront à la date des présentes et continueront d’avoir plein effet conformément à leurs modalités.

 

4.2                               Indemnisation

 

4.2.1                     CDP Capital d’Amérique s’engage à tenir chacun des Acheteurs indemne et à couvert de tout dommage, perte, engagement, obligations, réclamation, charge, frais, coût et dépense (incluant, entre autres choses, tous les frais raisonnables d’avocats et autres coûts et dépenses découlant de toute poursuite, action, réclamation ou autre procédure judiciaire) (collectivement, les Dommages) que cet Acheteur aura subi, supporté ou encouru du fait de :

 

a)                                     tout défaut à l’une quelconque des déclarations et garanties faites ou données par CDP Capital d’Amérique aux termes de la présente Convention; ou

 

b)                                     la non-exécution de toute obligation de CDP Capital d’Amérique aux termes de la présente Convention.

 

4.2.2                     Chacun des Acheteurs s’engage individuellement en son propre nom, et non collectivement ou solidairement, à tenir CDP Capital d’Amérique indemne et à couvert de tout Dommage que CDP Capital d’Amérique aura subi, supporté ou encouru du fait de :

 

16

 

a)                                     tout défaut à l’une quelconque des déclarations et garanties faites ou données par cet Acheteur aux termes de la présente Convention; ou

 

b)                                     la non-exécution de toute obligation de cet Acheteur aux termes de la présente Convention.

 

4.2.3                     Dans le cas de toute poursuite, action, réclamation ou demande d’un tiers qui, si elle s’avérait fondée, donnerait droit à une Partie (la Partie indemnisée) d’être indemnisée en vertu du présent article (une Réclamation d’un tiers), celle-ci devra aviser l’autre Partie qui est tenue d’indemniser en vertu du présent article (la Partie indemnisatrice) dans les 20 jours de la Réclamation d’un tiers et rendre dès lors disponible à la Partie indemnisatrice et à ses représentants autorisés l’information sur laquelle elle se fonde afin d’appuyer sa réclamation contre la Partie indemnisatrice. Si la Partie indemnisée omet d’aviser la Partie indemnisatrice et de rendre disponible cette information dans les 20 jours prescrits, cette omission n’empêchera pas la Partie indemnisée d’être indemnisée, sauf dans la mesure où ce délai aura causé préjudice à la défense, ou augmenté les coûts de la défense, pourvu que l’avis de la Réclamation d’un tiers ait été donné à la Partie indemnisatrice avant l’expiration de la période de survie applicable à la déclaration et garantie en cause, selon le cas.

 

4.2.4                     Sauf dans la mesure où la Réclamation d’un tiers est une injonction ou autre mesure de redressement pour laquelle le délai indiqué ci-après ne permet pas d’intervenir en temps opportun, la Partie indemnisatrice aura le droit de prendre en charge la défense de la Partie Indemnisée, ou de régler la Réclamation d’un tiers pourvu que cette prise en charge n’engage aucuns frais pour la Partie indemnisée et que la Partie indemnisatrice reconnaisse son obligation d’indemniser la Partie indemnisée conformément aux présentes. La Partie indemnisatrice avisera la Partie indemnisée dans les 30 jours de sa réception de l’avis de la Réclamation d’un tiers de sa décision de prendre en charge la défense ou de régler la Réclamation d’un tiers.

 

La Partie indemnisatrice préparera alors la défense ou le règlement de la Réclamation d’un tiers dans les meilleurs délais et à ses frais, y compris les honoraires payés à un conseiller juridique acceptable pour la Partie indemnisée, agissant de manière raisonnable. La Partie indemnisée fournira son entière collaboration à la Partie indemnisatrice et rendra disponible à la Partie indemnisatrice, tous renseignements, témoins ou documents sous son contrôle et posera tous les gestes qui seront nécessaires afin de procéder à la défense, selon l’avis des conseillers de la Partie indemnisatrice, le tout aux frais de la Partie indemnisatrice, sauf les frais encourus par la Partie indemnisée en relation avec le temps passé par ses employés ou ceux des personnes de son groupe (au sens de la LSAQ) à l’égard de cette collaboration. La Partie indemnisatrice tiendra la Partie indemnisée informée de tout aspect important relatif à une défense contre la Réclamation d’un tiers ou à un règlement de celle-ci et aura également le droit d’être consultée à l’égard des négociations, règlement ou défense contre toute Réclamation d’un tiers.

 

4.2.5                     Dans le cas où la Partie indemnisatrice ne prend pas en charge la défense, dans les 30 jours de sa réception de l’avis visé à l’alinéa 4.2.4, la Partie indemnisée pourra conclure tout règlement raisonnable quant à la Réclamation d’un tiers qui lui semble opportun et ce règlement ou la décision du tribunal de dernier recours quant à la Réclamation d’un tiers, le cas échéant, liera la Partie indemnisatrice.

 

4.2.6                     Une demande d’indemnisation à l’égard de toute question autre que celle reliée à une poursuite, action, réclamation ou demande d’un tiers, doit être faite par avis écrit par la Partie indemnisée à la Partie indemnisatrice et doit comporter les faits à la base de la demande d’indemnisation ainsi que le montant de l’indemnité réclamé. La Partie indemnisée devra rendre dès lors disponible à la Partie indemnisatrice et à ses

 

17

 

représentants autorisés toute information sur laquelle elle se fonde afin d’appuyer sa réclamation. Dans les 30 jours suivant la réception d’une telle demande et de toute telle information, la Partie indemnisatrice est tenue de payer à la Partie indemnisée le montant de l’indemnité réclamée.

 

4.3                               Le montant de toute indemnité payable à CDP Capital d’Amérique par un Acheteur en vertu de cet Article 4 en raison d’un défaut à l’égard de l’une quelconque des déclarations et garanties faites ou données par cet Acheteur aux termes de la présente Convention ou de la non-exécution de toute obligation par un Acheteur aux terme de la présente Convention sera considéré comme une augmentation du prix de vente payable par cet Acheteur à CDP Capital d’Amérique (soit le Prix de vente QI ou le Prix de vente QMI, selon le cas). Le montant de toute indemnité payable à un Acheteur par CDP Capital d’Amérique en vertu de cet Article 4 en raison d’un défaut à l’égard de l’une quelconque des déclarations et garanties faites ou données par CDP Capital d’Amérique aux termes de la présente Convention ou de la non-exécution de toute obligation par CDP Capital d’Amérique aux terme de la présente Convention sera considéré comme une diminution du prix de vente payable par cet Acheteur à CDP Capital d’Amérique (soit le Prix de vente QI ou le Prix de vente QMI, selon le cas).

 

ARTICLE 5 

CONDITIONS DE CLÔTURE

 

5.1                               Conditions préalables à la Clôture

 

5.1.1                     Conditions aux bénéfice de QMI. Les rachats et les ventes d’Actions QMI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de QMI, ces conditions devant être remplies et respectées au plus tard à la Date de clôture, QMI se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         toutes et chacune des déclarations et garanties de CDP Capital d’Amérique contenues à la présente Convention seront véridiques et exactes à la Date de clôture, si applicables, et elles auront la même valeur et le même effet que si elles étaient faites et données à cette date, et QMI devra avoir reçu à la Date de clôture un certificat de CDP Capital d’Amérique à cet effet, daté de la Date de clôture et dans une forme et teneur satisfaisantes à QMI, agissant de manière raisonnable;

 

(ii)                      CDP Capital d’Amérique devra avoir livré à QMI à la Date de clôture tous les autres Items de clôture de CDP Capital d’Amérique dans une forme et teneur satisfaisantes à QMI, agissant de manière raisonnable.

 

Si l’une ou l’autre des conditions prévues au présent sous-paragraphe 5.1.1 n’est pas remplie à ou avant la Date de clôture ou à toute autre date pouvant être convenue par écrit entre CDP Capital d’Amérique et QMI à la satisfaction de QMI, QMI pourra mettre fin à la présente Convention sur avis à CDP Capital d’Amérique et à QI et les Parties aux présentes seront libérées de leurs obligations en vertu des présentes, sans droit pour les Acheteurs de réclamer des dommages-intérêts, sauf en cas de défaut de CDP Capital d’Amérique.

 

QMI sera réputée avoir renoncé aux conditions prévues au présent sous-paragraphe 5.1.1 qui ne sont pas remplies à la Date de clôture et dont elle a connaissance à la Date de clôture, si elle procède néanmoins à cette séance de Clôture.

 

5.1.2                     Conditions au bénéfice de CDP Capital d’Amérique. Les rachats et les ventes d’Actions QMI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de CDP Capital d’Amérique, ces conditions devant être remplies et respectées

 

18

 

au plus tard à la Date de clôture, CDP Capital d’Amérique se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         toutes et chacune des déclarations et garanties de QMI contenues à la présente Convention seront véridiques et exactes à la Date de clôture, si applicables, et elles auront la même valeur et le même effet que si elles étaient faites et données à cette date, et CDP Capital d’Amérique devra avoir reçu à la Date de clôture un certificat de QMI à cet effet, daté de la Date de clôture et dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable;

 

(ii)                      QMI devra avoir livré à CDP Capital d’Amérique à la Date de clôture tous les autres Items de clôture des Acheteurs qui la concernent dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable.

 

Si l’une ou l’autre des conditions prévues au présent sous-paragraphe 5.1.2 n’est pas remplie à ou avant la Date de clôture ou à toute autre date pouvant être convenue par écrit entre CDP Capital d’Amérique et QMI à la satisfaction de CDP Capital d’Amérique, CDP Capital d’Amérique pourra mettre fin à la présente Convention sur avis aux Acheteurs et les Parties aux présentes seront libérées de leurs obligations en vertu des présentes, sans droit pour CDP Capital d’Amérique de réclamer des dommages-intérêts, sauf en cas de défaut de QMI.

 

CDP Capital d’Amérique est réputée avoir renoncé aux conditions prévues au présent sous-paragraphe 5.1.2 qui ne sont pas remplies à la Date de clôture et dont elle a connaissance à la Date de clôture, si elle procède néanmoins à cette séance de Clôture.

 

5.2                               Conditions préalables à la Date de paiement du solde QMI et la Date de paiement QI

 

5.2.1                     Le rachat et la vente des 5 632 906,47 actions ordinaires de QMI à la Date de paiement du solde QMI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de QMI, ces conditions devant être remplies et respectées au plus tard à la Date de paiement du solde QMI, QMI se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         toutes et chacune des déclarations et garanties de CDP Capital d’Amérique contenues à la présente Convention seront véridiques et exactes à la Date de paiement du solde QMI, si applicables, et elles auront la même valeur et le même effet que si elles étaient faites et données à cette date, et QMI devra avoir reçu à la Date de paiement du solde QMI un certificat de CDP Capital d’Amérique à cet effet, daté de la Date de paiement du solde QMI et dans une forme et teneur satisfaisantes à QMI, agissant de manière raisonnable;

 

(ii)                      CDP Capital d’Amérique devra avoir livré à QMI à la Date de paiement du solde QMI tous les autres Items de clôture de CDP Capital d’Amérique non préalablement livrés à la Date de clôture dans une forme et teneur satisfaisantes à QMI, agissant de manière raisonnable.

 

5.2.2                     Le rachat et la vente des 5 632 906,47 actions ordinaires de QMI à la Date de paiement du solde QMI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de CDP Capital d’Amérique, ces conditions devant être remplies et respectées au plus tard à la Date de paiement du solde QMI, CDP Capital d’Amérique se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         QMI devra avoir livré à CDP Capital d’Amérique à la Date de paiement du solde QMI tous les autres Items de clôture des Acheteurs qui la concernent non

 

19

 

préalablement livrés à la Date de clôture dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable.

 

5.2.3                     L’achat et la vente des 1 564 696,24 actions ordinaires de QMI à la Date de paiement QI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de QI, ces conditions devant être remplies et respectées au plus tard à la Date de paiement QI, QI se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         toutes et chacune des déclarations et garanties de CDP Capital d’Amérique contenues à la présente Convention seront véridiques et exactes à la Date de paiement QI, si applicables, et elles auront la même valeur et le même effet que si elles étaient faites et données à cette date, et QI devra avoir reçu à la Date de paiement QI un certificat de CDP Capital d’Amérique à cet effet, daté de la Date de paiement QI et dans une forme et teneur satisfaisantes à QI, agissant de manière raisonnable;

 

(ii)                      CDP Capital d’Amérique devra avoir livré à QI à la Date de paiement QI tous les autres Items de clôture de CDP Capital d’Amérique dans une forme et teneur satisfaisantes à QI, agissant de manière raisonnable.

 

5.2.4                     L’achat et la vente des 1 564 696,24 actions ordinaires de QMI à la Date de paiement QI prévus aux présentes sont assujettis aux conditions énoncées ci-dessous au seul avantage de CDP Capital d’Amérique, ces conditions devant être remplies et respectées au plus tard à la Date de paiement QI, CDP Capital d’Amérique se réservant le droit de renoncer en tout ou en partie à chacune de ces conditions :

 

(i)                         seulement dans la mesure où le placement des Débentures convertibles à CDP Capital d’Amérique a lieu selon les modalités et conditions du sous-paragraphe 2.6.1 des présentes, toutes et chacune des déclarations et garanties de QI contenues à la présente Convention seront véridiques et exactes à la Date de paiement QI, si applicables, et elles auront la même valeur et le même effet que si elles étaient faites et données à cette date, et CDP Capital d’Amérique devra avoir reçu à la Date de paiement QI un certificat de QI à cet effet, daté de la Date de paiement QI et dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable;

 

(ii)                      QI devra avoir livré à CDP Capital d’Amérique à la Date de paiement QI tous les autres Items de clôture des Acheteurs qui la concernent non préalablement livrés à la Date de clôture dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable.

 

5.2.5                     Les dispositions des sous-paragraphes 5.1.1 et 5.1.2 des présentes non contenues au paragraphe 5.2 des présentes s’appliqueront à la Date de paiement du solde QMI et la Date de paiement QI, selon le cas, au bénéfice de QMI, QI et CDP Capital d’Amérique, en y faisant les adaptations nécessaires selon le contexte. Sans limiter la portée de ce qui précède, les Parties reconnaissent et acceptent d’exercer les droits conférés par le paragraphe 5.2 des présentes de manière raisonnable de manière à compléter les transactions prévues aux présentes.

 

20

 

ARTICLE 6 

CLÔTURE

 

6.1                               Clôture

 

La Clôture aura lieu à la Date de clôture, au bureau de Montréal de Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l. À cette séance de Clôture :

 

6.1.1                     QMI paiera à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) le montant de 1 000 000 000 $ en espèces par virement bancaire selon le sous-paragraphe 2.3.1.1 des présentes;

 

6.1.2                     CDP Capital d’Amérique remettra aux Acheteurs le ou les certificats d’actions représentant les Actions dûment endossés pour transfert ou annulation et tous les contrats, conventions, consentements, attestations, avis et autres documents que CDP Capital d’Amérique est tenue par les présentes de livrer aux Acheteurs, au plus tard à la Date de clôture et que les Acheteurs n’auront pas reçu auparavant (les Items de clôture de CDP Capital d’Amérique);

 

6.1.3                     QMI remettra à CDP Capital d’Amérique deux certificats d’actions représentant 1 564 696,24 et 5 632 906,47 actions ordinaires de QMI, respectivement, pour un total de 7 197 602,71 actions ordinaires de QMI;

 

6.1.4                     les Acheteurs remettront à CDP Capital d’Amérique tous les contrats, conventions, consentements, attestations, avis et autres documents que les Acheteurs sont  tenus par les présentes de livrer à CDP Capital d’Amérique, au plus tard à la Date de clôture et que CDP Capital d’Amérique n’aura pas reçu auparavant (les Items de clôture des Acheteurs).

 

Au cours de cette séance de Clôture, les Parties aux présentes, de même que leurs conseillers juridiques respectifs et toutes autres personnes concernées, signeront et livreront tous les documents requis de leur part pour donner effet aux transactions prévues à la Clôture à la présente Convention.

 

6.2                               Paiement du solde du Prix de vente QMI

 

Le paiement du solde du Prix de vente QMI aura lieu à la Date de paiement du solde QMI, au bureau de Montréal de Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l. À cette séance de paiement :

 

6.2.1                     QMI paiera à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) le solde du Prix de vente QMI de 540 000 000 $ en espèces par virement bancaire selon le sous-paragraphe 2.3.1.2 des présentes;

 

6.2.2                     CDP Capital d’Amérique remettra à QMI le certificat d’actions représentant 5 632 906,47 actions ordinaires de QMI, dûment endossé pour annulation;

 

6.2.3                     CDP Capital d’Amérique remettra à QMI tous les contrats, conventions, consentements, attestations, avis et autres documents que CDP Capital d’Amérique est tenue par les présentes de livrer à QMI, au plus tard à la Date de paiement du solde QMI et que QMI n’aura pas reçu auparavant;

 

6.2.4                     QMI remettra à CDP Capital d’Amérique tous les contrats, conventions, consentements, attestations, avis et autres documents que QMI est tenue par les présentes de livrer à

 

21

 

CDP Capital d’Amérique, au plus tard à la Date de paiement du solde QMI et que CDP Capital d’Amérique n’aura pas reçu auparavant.

 

6.3                               Paiement du Prix de vente QI

 

Le paiement du Prix de vente QI aura lieu à la Date de paiement QI, au bureau de Montréal de Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l. À cette séance de paiement :

 

6.3.1                     QI (i) remettra à CDP Capital d’Amérique le certificat représentant les Débentures convertibles selon le sous-paragraphe 2.6.1 des présentes, ou, selon le cas, (ii) paiera à CDP Capital d’Amérique (ou toute autre entité désignée par celle-ci) la somme globale de 140 000 000 $ en espèces par virement bancaire selon le sous-paragraphe 2.6.2 des présentes;

 

6.3.2                     CDP Capital d’Amérique remettra à QI le certificat d’actions représentant 1 564 696,24 actions ordinaires de QMI, dûment endossé pour transfert;

 

6.3.3                     CDP Capital d’Amérique remettra à QI la Convention d’inscription QI, la Convention de fiducie et tous les contrats, conventions, consentements, attestations, avis et autres documents que CDP Capital d’Amérique est tenue par les présentes de livrer à QI, au plus tard à la Date de paiement QI et que QI n’aura pas reçu auparavant;

 

6.3.4                     QI remettra à CDP Capital d’Amérique la Convention d’inscription QI, la Convention de fiducie et tous les contrats, conventions, consentements, attestations, avis et autres documents que QI est tenue par les présentes de livrer à CDP Capital d’Amérique, au plus tard à la Date de paiement QI et que CDP Capital d’Amérique n’aura pas reçu auparavant.

 

6.4                               Acte de résiliation de la Convention entre actionnaires

 

À la dernière des dates suivantes : (i) la Date de paiement du solde QMI, et (ii) la Date de paiement QI :

 

6.4.1                     CDP Capital d’Amérique doit livrer aux Acheteurs un acte de résiliation de la Convention entre actionnaires signé par CDP Capital d’Amérique, dans une forme et teneur satisfaisantes aux Acheteurs, agissant de manière raisonnable;

 

6.4.2                     les Acheteurs doivent livrer à CDP Capital d’Amérique un acte de résiliation de la Convention entre actionnaires signer par les Acheteurs et leurs filiales pertinentes, dans une forme et teneur satisfaisantes à CDP Capital d’Amérique, agissant de manière raisonnable.

 

ARTICLE 7 

AVIS

 

Tout avis requis ou permis en vertu des présentes doit être communiqué par écrit et est réputé avoir été suffisamment et valablement donné s’il est livré de main à main à son destinataire ou (s’il n’y a pas d’interruption du service postal au Canada) mis à la poste, sous pli recommandé ou certifié et affranchi adressé comme suit ou transmis par télécopieur au numéro indiqué ci-après (pourvu dans ce dernier cas que l’original soit par la suite rapidement livré à son destinataire de main à main ou par la poste) ou transmis par courrier électronique :

 

22

 

7.1                               à CDP Capital d’Amérique :

 

CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

a/s CDP Capital d’Amérique Investissements inc.

Édifice Jacques-Parizeau

1000, Place Jean-Paul Riopelle

Montréal (Québec) H2Z 2B3

 

À l’attention de Kim Thomassin, Christian Dubé et Justin Méthot 

Numéro de télécopieur : (514) 281-5203

 

Courriers électroniques : kthomassin@cdpq.com, cdube@cdpq.com et jmethot@cdpq.com

 

Avec copie (laquelle ne constituera pas un avis) à :

 

Davies Ward Phillips & Vineberg S.E.N.C.R.L., s.r.l.

1501, avenue McGill College

26e étage

Montréal (Québec) H3A 3N9

 

À l’attention d’Olivier Désilets et Nicolas Morin

Courriers électroniques : odesilets@dwpv.com et nmorin@dwpv.com

 Numéro de télécopieur : (514) 841-6499

 

7.2                               à QMI :

 

612, rue Saint-Jacques

18e étage

Montréal (Québec) H3C 4M8

 

À l’attention du Vice-président principal et Chef de la direction financière et du Vice-président principal, Chef des affaires juridiques et publiques et secrétaire corporatif

Numéro de télécopieur : (514) 985-8834

 

Courriers électroniques : JFP@quebecor.com et Marc.tremblay@quebecor.com

 

Avec copie (laquelle ne constituera pas un avis) à :

 

Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l.

1, Place Ville Marie

Bureau 2500

Montréal (Québec) H3B 1R1

 

À l’attention d’Amélie Métivier

Courrier électronique : amelie.metivier@nortonrosefulbright.com

 Numéro de télécopieur : (514) 286-5474

 

7.3                               à QI :

 

612, rue Saint-Jacques

18e étage

Montréal (Québec) H3C 4M8

 

23

 

À l’attention du Vice-président principal et Chef de la direction financière et du Vice-président principal, Chef des affaires juridiques et publiques et secrétaire corporatif

Numéro de télécopieur : (514) 985-8834

 

Courriers électroniques : JFP@quebecor.com et Marc.tremblay@quebecor.com

 

Avec copie (laquelle ne constituera pas un avis) à :

 

Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l.

1, Place Ville Marie

Bureau 2500

Montréal (Québec) H3B 1R1

 

À l’attention d’Amélie Métivier

Courrier électronique : amelie.metivier@nortonrosefulbright.com

 

Numéro de télécopieur : (514) 286-5474

 

ou, quant à chaque Partie, à toute autre adresse ou autre numéro de télécopieur qui peut être désigné par cette Partie dans un avis écrit remis à toutes les Parties aux présentes conformément au présent paragraphe.

 

Si l’avis est donné par courrier recommandé ou certifié, il sera réputé avoir été reçu trois Jours ouvrables après la date de mise à la poste. Dans le cas de livraison ou de remise en main propre, cet avis sera réputé avoir été reçu le jour même si livré avant 14h00 à défaut de quoi il sera réputé reçu le Jour ouvrable suivant. Dans le cas de la transmission par télécopieur ou courrier électronique, cet avis sera réputé avoir été reçu le premier Jour ouvrable suivant sa transmission.

 

ARTICLE 8 

DISPOSITIONS DIVERSES

 

8.1                               Confidentialité

 

Sous réserve de ce qui est prévu ci-dessous, les Parties s’engagent à garder les modalités des présentes confidentielles et aucune des Parties ne pourra divulguer ces renseignements à quiconque, à l’exception de ses représentants et conseillers qu’elle retiendra à l’occasion (qui devront être instruits de conserver la confidentialité de cette information), sans le consentement écrit préalable des autres Parties qui ne pourra être retenu sans motif raisonnable, sous réserve de l’annonce publique de la conclusion de la présente Convention en la forme prévue au projet de communiqué de presse joint à l’Annexe A de la présente Convention, et sous réserve des Lois applicables, de toute obligation de divulgation en vertu de toute ordonnance d’une Autorité gouvernementale canadienne ou autre et de toute divulgation devant un tribunal ou une cour dans le cadre de toute procédure visant à déterminer ou faire reconnaître les droits d’une Partie en vertu de la présente Convention. Dans l’éventualité d’une divulgation exigée par la Loi ou toute ordonnance d’une telle Autorité gouvernementale, la Partie devant compléter la divulgation avisera les autres Parties préalablement, dans la mesure où il lui est possible de le faire, afin de permettre à celles-ci de faire valoir tout droit qu’elles auraient de prévenir une telle divulgation.

 

8.2                               Certaines questions fiscales

 

Les Parties conviennent de préparer et produire leurs déclarations de revenu respectives et tout autre formulaire requis par la Loi de manière à refléter les transactions intervenues entre elles conformément à la présente Convention et aux autres conventions qui s’y rapportent.

 

24

 

8.3                               Bénéfice

 

La présente Convention lie les Parties aux présentes ainsi que leurs représentants légaux, successeurs et ayants droit.

 

8.4                               Effet de la Convention

 

La présente Convention constitue l’entente complète entre les Parties quant aux matières qui y sont traitées et remplace toute autre convention antérieure, verbale ou écrite, entre elles relativement à l’objet de la présente Convention. Sans limiter la portée de ce qui précède, les Parties conviennent que certaines modalités et conditions de la présente Convention seront complétées par la Convention de fiducie, le ou les certificats de Débentures convertibles et la Convention d’inscription QI.

 

8.5                               Renonciation implicite

 

Le fait qu’une Partie n’ait pas insisté sur la pleine exécution de l’un quelconque des engagements contenus dans la présente Convention ou n’ait pas exercé l’un quelconque de ses droits en vertu des présentes ne doit pas être considéré comme une renonciation pour l’avenir à la pleine exécution de cet engagement ou à l’exercice de ce droit. À l’exception de toute renonciation à toute condition de Clôture conformément aux sous-paragraphes 5.1.1 et 5.1.2 des présentes, aucune renonciation par l’une des Parties à l’un quelconque de ses droits n’est effective à moins qu’elle ne soit faite par écrit et cette renonciation n’est imputable qu’aux droits et circonstances qui y sont expressément visés.

 

8.6                               Cession

 

Aucune Partie ne peut céder la présente Convention ni aucun avantage ou obligation découlant de celle-ci, en tout ou en partie, sans le consentement écrit préalable de toutes les Parties aux présentes. Nonobstant ce qui précède, (i) CDP Capital d’Amérique pourra céder ou autrement transférer les droits qui lui sont conférés par la présente Convention à la Caisse de dépôt et placement du Québec ou à toute Filiale détenue en propriété exclusive par celle-ci et (ii) chacun des Acheteurs pourra céder ou autrement transférer les droits qui lui sont conférés par la présente Convention à une entité survivante à la suite de la réorganisation de ses activités à l’occasion d’une vente, d’une fusion ou d’une acquisition de la totalité ou d’une partie substantielle de ses biens.

 

8.7                               Recours exclusifs

 

CDP Capital d’Amérique reconnait et convient qu’en cas de défaut aux termes des Débentures convertibles, le cas échéant (y compris un défaut de payer tout montant dû aux termes des Débentures convertibles), les recours prévus à la Convention de fiducie seront les seuls et exclusifs recours de CDP Capital d’Amérique à ce titre.

 

8.8                               Dépenses et frais

 

Sauf si expressément prévu au contraire dans la présente Convention, chaque Partie assumera ses propres dépenses et frais (y compris, sans restriction, les honoraires et déboursés des conseillers juridiques, comptables, financiers et autres conseillers retenus par chaque telle Partie) se rapportant aux transactions prévue dans la présente Convention et à l’exécution de ce qui y est prévu.

 

25

 

8.9                               Coopération

 

CDP Capital d’Amérique s’engage à remettre aux Acheteurs, dans un délai raisonnable de la demande d’un Acheteur à cet effet, agissant de manière raisonnable, tout document relatif aux Actions, aux biens et aux affaires de QMI ou de ses Filiales qui n’aurait pas été remis à la date des présentes. De plus, de temps à autre et sans autre formalité, à la demande et aux frais de l’autre, chacun de CDP Capital d’Amérique et des Acheteurs signera et remettra tout autre document et prendra toute autre mesure qu’une autre Partie pourra raisonnablement requérir afin d’exécuter ou compléter les opérations et de mieux régler toutes questions prévues aux présentes.

 

8.10                        Exemplaires

 

La présente Convention peut être signée par les Parties aux présentes en plusieurs exemplaires dont chacun, lorsqu’il est ainsi signé et livré, est un original; toutefois, tous ces exemplaires ne constituent qu’un seul et unique instrument.

 

(La page de signatures suit.)

 

26

 

EN FOI DE QUOI, les Parties ont signé à la date et lieu indiqués au début des présentes.

 

	
 
    	
 
    	
CDP CAPITAL D’AMÉRIQUE   INVESTISSEMENTS INC.
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Christian Dubé
    
	
 
    	
 
    	
Christian Dubé
   Premier vice-président, Québec
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Justin Méthot
    
	
 
    	
 
    	
Justin Méthot
   Vice-président, Grandes entreprises, Québec
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
QUÉBECOR MÉDIA INC.
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Jean-François   Pruneau
    
	
 
    	
 
    	
Jean-François Pruneau
   Vice-président principal et Chef de la direction financière
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Marc M.   Tremblay
    
	
 
    	
 
    	
Marc M. Tremblay
   Vice-président principal, Chef des affaires juridiques et publiques et   secrétaire corporatif
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
QUÉBECOR   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Jean-François   Pruneau
    
	
 
    	
 
    	
Jean-François Pruneau
   Vice-président principal et Chef de la direction financière
    
	
 
    	
 
    	
 
    
	
 
    	
par :
    	
/s/ Marc M.   Tremblay
    
	
 
    	
 
    	
Marc M. Tremblay
   Vice-président principal, Chef des affaires juridiques et publiques et   secrétaire corporatif
    

 

 

ANNEXE A
 PROJET DE COMMUNIQUÉ DE PRESSE

 

Voir ci-joint.

 

 

 

COMMUNIQUÉ DE PRESSE

Pour diffusion immédiate

 

Québecor et la Caisse de dépôt et placement du Québec

s’entendent sur le rachat de la participation de la Caisse dans Québecor Média

 

Montréal, le 8 mai 2018 — Québecor inc. (« Québecor ») est heureuse d’annoncer qu’elle a conclu une entente (l’« Entente ») avec Québecor Média inc. (« Québecor Média ») et la Caisse de dépôt et placement du Québec (la « Caisse ») en vue de racheter la totalité du capital-actions de Québecor Média encore détenu par la Caisse. L’Entente prévoit que Québecor et Québecor Média achètent ainsi 17 628 911 actions représentant une participation de 18,47 % dans Québecor Média, dont la valeur convenue entre les parties est de 1,690 milliard de dollars.

 

Cette Entente complète le processus annoncé en octobre 2012 (et poursuivi en septembre 2015 et en juillet 2017), dans le cadre du plan d’achat des actions de Québecor Média détenues par la Caisse introduit par Québecor, conformément à son objectif précédemment communiqué de détenir à terme toutes les actions de Québecor Média.

 

« Grâce à son profil financier actuellement très favorable et aux liquidités importantes en sa possession, Québecor est aujourd’hui en mesure de s’engager à compléter le rachat du capital-actions de Québecor Média amorcé en 2012. En gagnant accès à 100 % des flux monétaires qu’elle génère, Québecor sera désormais mieux outillée pour saisir les opportunités d’affaires qui se présenteront. Ultimement, ces transactions nous permettront de contrôler entièrement notre destinée », a affirmé Pierre Karl Péladeau, président et chef de la direction de Québecor.

 

« Aujourd’hui, le rachat complet des actions reflète bien la solidité financière de Québecor et permet à la Caisse de réallouer ce capital dans de nouvelles occasions d’investissement dans des entreprises québécoises. La débenture convertible permet à la Caisse de maintenir une participation dans l’entreprise, tout en procurant à Québecor une flexibilité financière accrue pour poursuivre son plan de croissance. Enfin, le partenariat de longue date développé avec Québecor nous permettra certainement, à l’avenir, d’explorer avec l’entreprise de nouveaux projets ou occasions d’investissement », a pour sa part déclaré Michael Sabia, président et chef de la direction de la Caisse.

 

« Québecor a toujours été très fière, dans la foulée d’investissements précédents couronnés de succès comme la création d’Imprimeries Québecor en 1989, d’être un partenaire de la Caisse. En s’accompagnant mutuellement dans la création de Québecor Média, nous avons créé un groupe québécois d’envergure devenu un leader dans les domaines des télécommunications, du divertissement, des médias d’information et de la culture. Ce faisant, nous avons permis aux Québécois de garder la mainmise sur leurs leviers technologiques et culturels, tout en créant d’importantes retombées pour l’ensemble de notre collectivité », a ajouté Pierre Karl Péladeau.

 

Au nombre de ces retombées, il faut notamment retenir les plus de 4 000 emplois créés chez Vidéotron depuis 15 ans, ainsi que les quelque 2 milliards investis dans le sans-fil afin d’offrir davantage de choix et de meilleurs prix aux consommateurs québécois. À cela, s’ajoutent également la contribution exceptionnelle de Québecor et ses filiales au contenu audiovisuel et au journalisme

 

 

d’ici, de même que son apport philanthropique auprès de 400 organismes dans des domaines aussi variés que la culture, la santé, l’éducation, l’environnement et l’entrepreneuriat.

 

L’Entente en bref

 

·                  L’Entente prévoit la conclusion des deux opérations suivantes :

· le rachat pour fins d’annulation par Québecor Média de 16 064 215 actions de Québecor Média détenues par la Caisse, représentant environ 91,1 % de la participation de la Caisse avant la clôture, pour un prix d’achat global de 1,540 milliard de dollars, payable en espèces; et

 

· l’achat par Québecor de 1 564 696 actions de Québecor Média détenues par la Caisse, représentant environ 8,9 % de la participation de la Caisse avant la clôture, en contrepartie de l’émission de débentures convertibles de Québecor d’un montant en capital global de 150 millions de dollars qui seront convertibles en actions subalternes catégorie B de Québecor (les débentures convertibles), le tout sujet aux approbations requises, incluant celle de la Bourse de Toronto.

 

·                  À la conclusion de ces transactions, Québecor et Québecor Média auront ainsi acquis la participation de 18,47 % dans Québecor Média que Québecor ne possédait pas encore, Québecor devenant l’entière et unique propriétaire de Québecor Média.

 

Émission de débentures convertibles par Québecor inc.

 

Sujet à l’approbation de la Bourse de Toronto, les débentures convertibles auront une durée de six ans échéant en 2024 et porteront intérêt au taux annuel de 4,0 %, payable conformément aux modalités de l’acte de fiducie devant être conclu lors de leur émission. Les débentures convertibles seront convertibles en actions subalternes catégorie B de Québecor conformément aux modalités de l’acte de fiducie, sous réserve d’un prix plancher de 26,85 $ par action (soit un nombre maximal d’approximativement 5 586 592 actions subalternes catégorie B de Québecor correspondant au ratio de 150 millions de dollars sur le prix plancher) et d’un prix plafond de 33,5625 $ par action (soit un nombre minimal d’approximativement 4 469 274 actions subalternes catégorie B de Québecor correspondant au ratio de 150 millions de dollars sur le prix plafond), sujet à ajustement conformément aux modalités de l’acte de fiducie. Il est prévu que les autres modalités et conditions des débentures convertibles seront substantiellement en ligne avec les modalités des débentures convertibles émises en vertu de la convention de fiducie de Québecor datée du 11 octobre 2012, telle que modifiée.

 

Droits de sortie et convention entre actionnaires de Québecor Média

 

En conséquence de la réalisation des transactions prévues par l’Entente, les droits de sortie accordés à la Caisse en vertu de l’entente intervenue au début du processus introduit en 2012, incluant le droit de requérir que Québecor Média procède à un premier appel public à l’épargne, ou le droit de vendre sa participation restante dans Québecor Média à un tiers financier, sans avoir à accorder un droit de premier refus ou de première offre à Québecor ou à Québecor Média, vont s’éteindre à la clôture de la transaction.

 

 

Également, les parties ont convenu de résilier et de mettre fin à la convention entre actionnaires intervenue entre Québecor, CDP Capital d’Amérique investissements inc. (auparavant Capital Communications CDPQ inc.) et Québecor Média en date du 23 octobre 2000, telle que consolidée et modifiée de temps à autre.

 

Clôture

 

On prévoit actuellement que les opérations envisagées dans l’Entente devraient être entièrement réalisées au plus tard le 22 juin 2018, sous réserve des conditions de clôture habituelles applicables à des opérations de cette nature et à la réception des approbations réglementaires, y compris celle de la Bourse de Toronto.

 

Valeurs mobilières TD a agi à titre d’aviseur financier de Québecor pour cette transaction.

 

Le présent communiqué de presse ne constitue ni une offre de vente ou d’achat ni la sollicitation d’une offre d’achat ou de vente de titres dans un territoire donné. Les titres mentionnés aux présentes n’ont pas été et ne seront pas inscrits en vertu de la loi des États-Unis intitulée Securities Act of 1933 ou des lois sur les valeurs mobilières applicables d’un État, et ne peuvent être offerts ni vendus aux États-Unis en l’absence d’une inscription ou d’une dispense applicable des exigences d’inscription. Les titres mentionnés aux présentes n’ont pas été et ne seront pas admissibles aux fins de vente au public en vertu des lois sur les valeurs mobilières canadiennes applicables.

 

La Bourse de Toronto n’a pas examiné le présent communiqué de presse et dénie toute responsabilité quant à la pertinence ou à l’exactitude de celui-ci.

 

Mise en garde concernant l’information prospective

 

Les énoncés figurant dans le présent communiqué de presse qui ne sont pas des faits historiques constituent des énoncés prospectifs assujettis à des risques, à des incertitudes et à des hypothèses importants connus et inconnus qui sont susceptibles d’entraîner un écart important entre les résultats réels de Québecor dans des périodes futures et ceux qui figurent dans les énoncés prospectifs. Les énoncés prospectifs sont généralement reconnaissables à l’utilisation du conditionnel, d’expressions  prospectives comme « proposer », « s’attendre », « pouvoir », « anticiper », « avoir l’intention de », « estimer que », « prévoir », « désirer », ou « croire » ou de la tournure négative de ces expressions ou de leurs variantes ou toute terminologie similaire. Ce communiqué de presse renferme notamment des énoncés prospectifs portant sur ce qui suit : le moment et la réalisation prévus des transactions visées par l’Entente; le fait que les clôtures des transactions sont subordonnées à la survenance de certains événements et à l’obtention des approbations nécessaires, à savoir celle de la Bourse de Toronto; et les avantages attendus de l’Entente (notamment l’incidence de l’Entente sur les activités, la structure, les capacités, les occasions d’affaires et autres, et la stratégie globale de Québecor). Au nombre des facteurs pouvant entraîner un écart entre les résultats réels et les attentes actuelles figurent la saisonnalité (y compris les fluctuations saisonnières des commandes de clients), les risques d’exploitation (y compris la variation de la demande des clients pour les produits de Québecor et les mesures relatives à

 

 

l’établissement des prix instaurés par des concurrents), les nouveaux concurrents et la capacité à conserver les clients actuels de Québecor et à en attirer de nouveaux, les risques liés à la fragmentation du marché de la publicité, les risques liés aux couvertures d’assurances, les risques associés à l’investissement en capital (y compris les risques liés au développement technologique, à la disponibilité et aux bris des équipements), les risques environnementaux, les risques liés à la cybersécurité et au maintien de la protection des renseignements personnels, les risques associés aux conventions collectives, le risque de crédit, les risques financiers, les risques liés à l’endettement, les risques de fluctuation de taux d’intérêt, les risques de change, les risques associés aux lois et à la réglementation gouvernementale, les risques liés aux changements dans la législation fiscale et la fluctuation générale de la conjoncture politique et économique et, en ce qui a trait à l’Entente, les risques éventuels comprennent les risques suivants : la non-réception des approbations réglementaires (dont celle de la Bourse de Toronto) ou le retard dans la réception de celles-ci ou le non-respect des conditions relatives à la réalisation de l’Entente ou le retard dans la réalisation de celles-ci; ou la survenance d’un événement qui permettrait à la Caisse de mettre un terme à ses obligations aux termes de l’Entente. Les investisseurs et autres personnes devraient noter que la liste des facteurs mentionnés ci-dessus qui sont susceptibles d’influer sur les résultats futurs n’est pas exhaustive et éviter de se fier indûment à tout énoncé prospectif. Les énoncés prospectifs décrits dans ce communiqué de presse se fondent sur les hypothèses importantes suivantes en ce qui a trait à l’Entente: le respect de toutes les conditions de clôture et la réalisation des transactions visées par l’Entente selon l’échéancier prévu, y compris l’obtention des approbations des organismes de réglementation (y compris de la Bourse de Toronto). Pour de plus amples renseignements sur les risques, incertitudes et hypothèses susceptibles d’entraîner un écart entre les résultats réels de Québecor et les attentes actuelles, veuillez vous reporter aux documents publics déposés par Québecor et  qui  sont  disponibles  à  <www.sedar.com>  et  à  <www.quebecor.com>,  y  compris,  en  particulier,  la  rubrique  « Risques  et incertitudes » du rapport de gestion de Québecor pour l’exercice terminé le 31 décembre 2017.

 

Les énoncés prospectifs figurant dans le présent communiqué de presse reflètent les projections de Québecor en date du présent communiqué et sont sous réserve des changements pouvant se produire après cette date. Québecor décline expressément toute obligation ou tout engagement de mettre à jour ces énoncés prospectifs, que ce soit en raison de nouveaux renseignements ou d’événements futurs ou pour quelque autre motif que ce soit, à moins que les lois sur les valeurs mobilières applicables l’exigent.

 

À propos de Québecor

 

Chef de file canadien des télécommunications, du divertissement, des médias d’information et de la culture, Québecor est l’une des entreprises de communication intégrées les plus performantes de l’industrie. Portées par la volonté de faire vivre la meilleure expérience qui soit à ses clients, toutes les filiales et marques de Québecor se distinguent par une offre de produits et services de qualité, multiplateformes et convergents.

 

Québecor (TSX : QBR.A, QBR.B), dont le siège social est solidement implanté au Québec, emploie plus de 10 000 personnes au Canada.

 

Entreprise familiale fondée en 1950, Québecor a à cœur de s’impliquer activement dans sa communauté. Chaque année, elle s’investit auprès de plus de 400 organismes dans les domaines aussi essentiels que sont la culture, la santé, l’éducation, l’environnement et l’entrepreneuriat.

 

Visitez notre site Internet : www.quebecor.com

 

 

Suivez-nous sur Twitter : twitter.com/Quebecor

 

— 30 —

 

	
Source :
    	
Renseignements :
    
	
Jean-François Pruneau
    	
Direction des communications
    
	
Vice-président principal et chef de la   direction financière
    	
Québecor inc. et Québecor Média inc.
    
	
Québecor inc. et Québecor Média inc.
    	
medias@quebecor.com
    
	
jean-francois.pruneau@quebecor.com
    	
514 380-4572
    
	
514 380-4144
    	
 
    

 

 

ANNEXE B
 MODALITÉS DES DÉBENTURES CONVERTIBLES

 

	
Modalités des Débentures   convertibles
    	
 
    	
Émetteur : Québecor Inc.
    
	
 
    	
 
    
	
 
    	
Montant en Capital :   150 millions de dollars
    
	
 
    	
 
    
	
 
    	
Durée : 6 ans.
    
	
 
    	
 
    
	
 
    	
Intérêt : taux de 4,00 %   par année
    
	
 
    	
 
    
	
 
    	
 
    	
« prix plancher » de 26,85 $par   action QBR.B (pour un nombre maximal d’approximativement   5 586 592,18 actions QBR.B)

 

« prix plafond » de 33,5625 $par   action QBR.B (pour un nombre minimal d’approximativement   4 469 273,74 actions QBR.B.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Ajustement/seuil de dividendes :   0,22 $
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Dispositions Générales :   L’intention de QI et de CDP Capital d’Amérique est que les autres modalités   et conditions des Débentures convertibles seront substantiellement en ligne   avec les modalités des débentures convertibles émises sous la convention de   fiducie de QI, en date du 11 octobre 2012, telle que modifiée en date du 26   avril 2013, hormis des changements requis pour moderniser la Convention de fiducie   et préciser certaines procédures administratives.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]