Document:

Credit Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
  
  

 
 U.S.$250,000,000 

CREDIT AGREEMENT 

Dated as of December 20, 2012 
 among 
 TPC HOLDINGS, INC., 

as Holdings, 

SAWGRASS MERGER SUB INC., 
 (to be merged into TPC GROUP INC.) 
 as Lead Borrower, 

TPC GROUP INC., 

THE SUBSIDIARIES OF TPC GROUP INC. PARTY HERETO, 
 as Borrowers 
 THE LENDERS PARTY HERETO, 

BANK OF AMERICA, N.A., 
 as Administrative Agent 
 BANK OF AMERICA, N.A., 

as Collateral Agent, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 
 JEFFERIES FINANCE LLC
AND MORGAN STANLEY SENIOR FUNDING, INC., 
 as Joint Lead Arrangers and Joint Bookrunners, 

and 
 JEFFERIES
FINANCE LLC AND MORGAN STANLEY SENIOR FUNDING, INC., 
 as Syndication Agents 

 
  

 

 Table of Contents 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I       DEFINITIONS
	  	 	6	  
			
	 Section 1.01.
	  	 Defined Terms
	  	 	6	  
	 Section 1.02.
	  	 Terms Generally
	  	 	73	  
	 Section 1.03.
	  	 Effectuation of Transfers
	  	 	75	  
	 Section 1.04.
	  	 Uniform Commercial Code
	  	 	75	  
		
	 ARTICLE II       THE CREDITS
	  	 	75	  
			
	 Section 2.01.
	  	 Commitments
	  	 	75	  
	 Section 2.02.
	  	 Loans and Borrowings
	  	 	75	  
	 Section 2.03.
	  	 Requests for Borrowings
	  	 	76	  
	 Section 2.04.
	  	 Swingline Loans
	  	 	76	  
	 Section 2.05.
	  	 Revolving Letters of Credit
	  	 	77	  
	 Section 2.06.
	  	 Funding of Borrowings
	  	 	81	  
	 Section 2.07.
	  	 Interest Elections
	  	 	82	  
	 Section 2.08.
	  	 Termination and Reduction of Commitments
	  	 	83	  
	 Section 2.09.
	  	 Repayment of Loans; Evidence of Debt
	  	 	83	  
	 Section 2.10.
	  	 Application of Payment in the Dominion Accounts
	  	 	84	  
	 Section 2.11.
	  	 Prepayment of Loans
	  	 	84	  
	 Section 2.12.
	  	 Fees
	  	 	85	  
	 Section 2.13.
	  	 Interest
	  	 	86	  
	 Section 2.14.
	  	 Alternate Rate of Interest
	  	 	87	  
	 Section 2.15.
	  	 Increased Costs
	  	 	88	  
	 Section 2.16.
	  	 Break Funding Payments
	  	 	89	  
	 Section 2.17.
	  	 Taxes
	  	 	89	  
	 Section 2.18.
	  	 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	93	  
	 Section 2.19.
	  	 Mitigation Obligations; Replacement of Lenders; Defaulting Lenders
	  	 	95	  
	 Section 2.20.
	  	 Increase in Commitments
	  	 	97	  
	 Section 2.21.
	  	 Designated Borrowers; Lead Borrower
	  	 	99	  
	 Section 2.22.
	  	 Illegality
	  	 	99	  
	 Section 2.23.
	  	 Extensions of Revolving Facility Loans and Commitments
	  	 	99	  
	 Section 2.24.
	  	 Protective Advances
	  	 	101	  
	 Section 2.25.
	  	 Overadvances
	  	 	101	  
	 Section 2.26.
	  	 Application of Payment in the Dominion Accounts
	  	 	102	  
		
	 ARTICLE III     REPRESENTATIONS AND WARRANTIES
	  	 	103	  
			
	 Section 3.01.
	  	 Organization; Powers
	  	 	103	  
	 Section 3.02.
	  	 Authorization; No Violation; No Conflict
	  	 	104	  
	 Section 3.03.
	  	 Enforceability
	  	 	104	  
	 Section 3.04.
	  	 Governmental Approvals
	  	 	104	  
	 Section 3.05.
	  	 Financial Statements
	  	 	105	  
	 Section 3.06.
	  	 No Material Adverse Effect
	  	 	105	  

  
 i 

							
	 Section 3.07.
	  	 Title to Properties; Possession Under Leases
	  	 	105	  
	 Section 3.08.
	  	 Litigation; Compliance with Laws
	  	 	107	  
	 Section 3.09.
	  	 Federal Reserve Regulations
	  	 	108	  
	 Section 3.10.
	  	 Investment Company Act
	  	 	108	  
	 Section 3.11.
	  	 Use of Proceeds
	  	 	108	  
	 Section 3.12.
	  	 Tax Returns
	  	 	108	  
	 Section 3.13.
	  	 No Material Misstatements
	  	 	108	  
	 Section 3.14.
	  	 Employee Benefit Plans
	  	 	109	  
	 Section 3.15.
	  	 Environmental Matters
	  	 	109	  
	 Section 3.16.
	  	 No Undisclosed Liabilities
	  	 	110	  
	 Section 3.17.
	  	 Creation of Security Interests
	  	 	111	  
	 Section 3.18.
	  	 Solvency
	  	 	111	  
	 Section 3.19.
	  	 Labor Matters
	  	 	111	  
	 Section 3.20.
	  	 Insurance
	  	 	112	  
	 Section 3.21.
	  	 Designation as Senior Debt
	  	 	112	  
		
	 ARTICLE IV     CONDITIONS TO CREDIT EVENTS
	  	 	112	  
			
	 Section 4.01.
	  	 All Credit Events
	  	 	112	  
	 Section 4.02.
	  	 First Credit Event
	  	 	113	  
		
	 ARTICLE V    AFFIRMATIVE COVENANTS
	  	 	115	  
			
	 Section 5.01.
	  	 Existence; Businesses and Properties
	  	 	115	  
	 Section 5.02.
	  	 Insurance
	  	 	116	  
	 Section 5.03.
	  	 Taxes
	  	 	117	  
	 Section 5.04.
	  	 Financial Statements, Reports, Etc.
	  	 	117	  
	 Section 5.05.
	  	 Litigation and Other Notices
	  	 	118	  
	 Section 5.06.
	  	 Compliance with Laws
	  	 	119	  
	 Section 5.07.
	  	 Maintaining Records; Access to Properties and Inspections
	  	 	119	  
	 Section 5.08.
	  	 Use of Proceeds
	  	 	120	  
	 Section 5.09.
	  	 Compliance with Environmental Laws
	  	 	120	  
	 Section 5.10.
	  	 Further Assurances
	  	 	120	  
	 Section 5.11.
	  	 Fiscal Year
	  	 	121	  
	 Section 5.12.
	  	 Post-Closing Matters
	  	 	121	  
	 Section 5.13.
	  	 Additional Guarantors and Security Coverage
	  	 	121	  
	 Section 5.14.
	  	 Collateral Monitoring and Reporting
	  	 	122	  
	 Section 5.15.
	  	 Fiscal Year
	  	 	123	  
		
	 ARTICLE VI    NEGATIVE COVENANTS
	  	 	124	  
			
	 Section 6.01.
	  	 Restricted Payments
	  	 	124	  
	 Section 6.02.
	  	 Incurrence of Indebtedness and Issuance of Preferred Equity
	  	 	127	  
	 Section 6.03.
	  	 Asset Sales
	  	 	133	  
	 Section 6.04.
	  	 Liens
	  	 	134	  
	 Section 6.05.
	  	 Dividend and other Payment Restrictions Affecting Subsidiaries
	  	 	134	  
	 Section 6.06.
	  	 Consolidation, Amalgamation, Merger, or Sale of Assets
	  	 	137	  
	 Section 6.07.
	  	 Transactions with Affiliates
	  	 	138	  

  
 ii 

							
	 Section 6.08.
	  	 Business Activities
	  	 	140	  
	 Section 6.09.
	  	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	141	  
	 Section 6.10.
	  	 Minimum Fixed Charge Coverage Ratio
	  	 	141	  
		
	 ARTICLE VII     EVENTS OF DEFAULT
	  	 	141	  
			
	 Section 7.01.
	  	 Events of Default
	  	 	141	  
	 Section 7.02.
	  	 Holdings’ Right to Cure
	  	 	144	  
		
	 ARTICLE VIII     THE AGENTS
	  	 	145	  
			
	 Section 8.01.
	  	 Collateral Agent and Administrative Agent Appointment
	  	 	145	  
	 Section 8.02.
	  	 Joint Lead Arrangers, etc.
	  	 	145	  
	 Section 8.03.
	  	 Withholding Taxes
	  	 	145	  
	 Section 8.04.
	  	 Lien Release; Care of Collateral
	  	 	146	  
	 Section 8.05.
	  	 Additional Agreement
	  	 	146	  
	 Section 8.06.
	  	 Reliance by Agents
	  	 	147	  
	 Section 8.07.
	  	 Action Upon Default
	  	 	147	  
	 Section 8.08.
	  	 Indemnification
	  	 	147	  
	 Section 8.09.
	  	 Successor Agent and Co-Agents
	  	 	147	  
	 Section 8.10.
	  	 Individual Capacities
	  	 	148	  
	 Section 8.11.
	  	 Bank Product Providers; Hedging Obligations
	  	 	149	  
	 Section 8.12.
	  	 No Third Party Beneficiaries
	  	 	149	  
		
	 ARTICLE IX    MISCELLANEOUS
	  	 	149	  
			
	 Section 9.01.
	  	 Notices
	  	 	149	  
	 Section 9.02.
	  	 Survival of Agreement
	  	 	150	  
	 Section 9.03.
	  	 Binding Effect
	  	 	151	  
	 Section 9.04.
	  	 Successors and Assigns
	  	 	151	  
	 Section 9.05.
	  	 Expenses; Indemnity
	  	 	155	  
	 Section 9.06.
	  	 Right of Set-off
	  	 	157	  
	 Section 9.07.
	  	 Applicable Law
	  	 	157	  
	 Section 9.08.
	  	 Waivers; Amendment
	  	 	157	  
	 Section 9.09.
	  	 Interest Rate Limitation
	  	 	159	  
	 Section 9.10.
	  	 Entire Agreement
	  	 	160	  
	 Section 9.11.
	  	 Waiver of Jury Trial
	  	 	160	  
	 Section 9.12.
	  	 Severability
	  	 	160	  
	 Section 9.13.
	  	 Counterparts
	  	 	160	  
	 Section 9.14.
	  	 Headings
	  	 	160	  
	 Section 9.15.
	  	 Jurisdiction; Consent to Service of Process
	  	 	160	  
	 Section 9.16.
	  	 Confidentiality
	  	 	161	  
	 Section 9.17.
	  	 Communications
	  	 	162	  
	 Section 9.18.
	  	 Release of Liens and Guarantees
	  	 	163	  
	 Section 9.19.
	  	 U.S.A
	  	 	164	  
	 Section 9.20.
	  	 Judgment
	  	 	164	  
	 Section 9.21.
	  	 No Fiduciary Duty
	  	 	165	  
	 Section 9.22.
	  	 Joint and Several Obligations
	  	 	165	  
	 Section 9.23.
	  	 Appointment for Perfection
	  	 	167	  

  
 iii

 Exhibits and Schedules 

 

			
	 Exhibit A
	  	Form of Assignment and Acceptance
	 Exhibit B
	  	Form of Solvency Certificate
	 Exhibit C
	  	Form of Note
	 Exhibit D
	  	Form of United States Tax Compliance Certificate
		
	 Schedule I
	  	Designated Borrower Subsidiaries
	 Schedule II
	  	
	 Part A
	  	Security Documents to be Delivered on the Closing Date
	 Part B
	  	Security Documents to be Delivered post-Closing Date
	 Schedule III
	  	Closing Date Guarantors
		
	 Schedule 1.01(a)

Schedule 1.01(b)
 Schedule 2.01
	  	 Bank Product Debt
 Business
and Collateral Locations
 Commitments

	 Schedule 3.01
	  	Organization and Good Standing
	 Schedule 3.04
	  	Governmental Approvals
	 Schedule 3.07(d)
	  	Condemnation Proceedings
	 Schedule 3.07(f)
	  	Subsidiaries
	 Schedule 3.07(g)
	  	Subscriptions
	 Schedule 3.08(a)
	  	Litigation
	 Schedule 3.08(b)
	  	Violations
	 Schedule 3.12
	  	Taxes
	 Schedule 3.15
	  	Environmental Matters
	 Schedule 3.19
	  	Labor Matters
	 Schedule 3.20
	  	Insurance
	 Schedule 5.10
	  	Real Property
	 Schedule 5.14
	  	Deposit Accounts

  
 iv 

 CREDIT AGREEMENT dated as of December 20, 2012 (as amended, amended and restated, supplemented or
otherwise modified, this “Agreement”), among TPC HOLDINGS, INC., a Delaware corporation (“Holdings”), SAWGRASS MERGER SUB INC., a Delaware corporation and a wholly owned direct subsidiary of Holdings (the
“Merger Sub”) and to be merged into TPC GROUP INC. on the Acquisition Closing Date, TPC GROUP INC., a Delaware corporation (the “Target”), the Designated Borrowers listed on Schedule I hereto (which shall
become party hereto by executing this Agreement on the Closing Date) and the other Borrowers party hereto from time to time, the LENDERS party hereto from time to time, BANK OF AMERICA, N.A., as administrative agent (in such capacity, together with
any successor administrative agent, the “Administrative Agent”) for the Lenders, BANK OF AMERICA, N.A., as collateral agent (in such capacity, together with any successor collateral agent, the “Collateral Agent”)
for the Lenders, JEFFERIES FINANCE LLC (“Jefferies Finance”) and MORGAN STANLEY SENIOR FUNDING, INC. (“Morgan Stanley”), as syndication agents (in such capacity, the “Syndication Agents”), MERRILL
LYNCH, PIERCE, FENNER & SMITH INCORPORATED and JEFFERIES FINANCE and MORGAN STANLEY, as joint lead arrangers and joint bookrunners (in such capacity, the “Joint Lead Arrangers”). 

W I T N E S S E T H : 
 WHEREAS, an Affiliate (with such term and each other capitalized term used but not defined in this preamble having the meaning assigned thereto in Article I) of a fund managed by FRC Founders
Corporation (formerly known as First Reserve Corporation) and SK Capital Partners III, L.P. (collectively, the “Sponsor”) will acquire of all of the equity interests of Target pursuant to an Agreement and Plan of Merger (as amended,
restated or otherwise modified, the “Merger Agreement”) dated as of August 25, 2012, by and among the Target, Holdings and the Merger Sub. On the date of consummation of such merger (the “Acquisition Closing
Date”) Merger Sub will merge with and into the Target, with the Target surviving such merger (the “Acquisition”) and from and after the Acquisition Closing Date Target shall become the Lead Borrower hereunder; 

WHEREAS, the Lead Borrower intends to issue senior secured notes in an aggregate amount of up to U.S.$655.0 million (the “Senior
Notes”) and use a portion of the proceeds of the Senior Notes to refinance all amounts owing under the Existing Facilities (the “Refinancing”). 
 WHEREAS, the Lead Borrower has requested that the Lenders extend credit in the form of Revolving Facility Loans and Revolving Letters of Credit at any time and from time to time prior to the Maturity
Date, in an aggregate principal amount at any time outstanding not in excess of $250.0 million; 

  
 5 

 NOW, THEREFORE, the Lenders are willing to extend such credit to the Borrowers on the terms
and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 
  
 ARTICLE I 
 DEFINITIONS 

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

 “ABR Loan” shall mean any Loan bearing interest at a rate determined by reference to the Alternate Base Rate
in accordance with the provisions of Article II. 
 “Accounts” shall have the meaning specified in
the UCC, including all rights to payment for goods sold or leased, or for services rendered. 
 “Account
Debtor” shall mean, a Person obligated under an Account, Chattel Paper or General Intangible. 
 “Acquired
Debt” shall mean, with respect to any specified Person: (i) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such specified Person, whether or not such
Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person; and (ii) Indebtedness secured by a Lien encumbering any asset acquired
by such specified Person. 
 “Acquisition” shall have the meaning specified in the recitals hereto. 

“Acquisition Closing Date” shall have the meaning specified in the recitals hereto. 

“Additional Agreement” shall have the meaning specified in Section 8.04. 

“Additional Assets” shall mean (a) any properties or assets to be used by Holdings, a Borrower, or a Restricted
Subsidiary in a Permitted Business; (b) capital expenditures by the Holdings, a Borrower, or a Restricted Subsidiary in a Permitted Business; or (c) Capital Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary; provided, however, that, in the case of clause (c), such Restricted Subsidiary is primarily engaged in a Permitted Business. 
 “Administrative Agent” shall have the meaning specified in the introductory paragraph of this Agreement. 
 “Affiliate” of any specified Person shall mean any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person.
For purposes of this definition, “control,” as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through
the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent Fees” shall have the meaning specified in Section 2.12(d). 

  
 6 

 “Agent Parties” shall have the meaning specified in
Section 9.17(c). 
 “Agents” shall mean the Administrative Agent and the Collateral Agent.

 “Agreement” shall have the meaning specified in the introductory paragraph of this Agreement. 

“Allocable Amount” shall have the meaning specified in Section 9.22. 

“Alternate Base Rate” shall mean the greater of (i) the rate of interest per annum determined by the
Administrative Agent from time to time as its prime commercial lending rate for U.S. Dollar loans in the United States for such day (the “Prime Rate”), (ii) the Federal Funds Rate plus 0.50% per annum
and (iii) the LIBOR Rate determined by the Administrative Agent (with a term equivalent to one month), determined as of approximately 11:00 a.m. (London time) two Business Days prior to the date at which the Alternate Base Rate is being
determined, plus 1%. The Prime Rate is not necessarily the lowest rate that the Administrative Agent is charging to any corporate customer. 
 “Applicable Commitment Fee Percentage” shall mean, for any day, the applicable percentage set forth below under the caption “Applicable Commitment Fee Percentage” based upon the
Quarterly Average Unused Revolving Facility Balance as of the last day of the most recently ended fiscal quarter: 
  

			
	 Quarterly Average Unused Revolving Facility Balance
	 	 Applicable Commitment Fee Percentage

	 Category 1
 > 50% of the Total Commitments
	 	0.50% per annum
	 Category 2
 < 50% of the Total Commitment
	 	0.375% per annum

 (i) the Applicable Commitment Fee Percentage shall be calculated once each fiscal quarter, as of the last day of each
such fiscal quarter, based upon the Quarterly Average Unused Revolving Facility Balance for such fiscal quarter, (ii) the Applicable Commitment Fee Percentage from the Closing Date through and including the last day of the first fiscal quarter
to end following the Closing Date shall be the applicable percentage set forth in Category 1 above and thereafter shall be adjusted in accordance with the provisions hereof, (iii) in the event that the Borrowers fail to provide any Borrowing
Base Certificate required hereunder with respect thereto for any period on the date required hereunder, effective as of the date on which such Borrowing Base Certificate was otherwise required, the Applicable Commitment Fee Percentage shall be
deemed to be Category 1 above for all purposes until the date on which such required Borrowing Base Certificate is provided and (iv) at any time after the occurrence and during the continuance of an Event of Default under
Section 7.01(b), (c), (i) or (j) is continuing the Applicable Commitment Fee Percentage shall be deemed to be Category 1 above. 
 In the event that the Borrowing Base Certificate delivered is inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such

  
 7 

 
inaccuracy, if corrected, would have led to the application of a higher Applicable Commitment Fee Percentage for any period (an “Applicable Period”) than the Applicable
Commitment Fee Percentage applied for such Applicable Period, then (a) the Borrowers shall as promptly as practicable deliver to the Administrative Agent a corrected Borrowing Base Certificate for such Applicable Period, (b) the Applicable
Commitment Fee Percentage shall be determined based on the corrected Borrowing Base Certificate for such Applicable Period, and (c) the Borrowers shall as promptly as practicable pay to the Administrative Agent (for the account of the Lenders
during the Applicable Period or their successors and assigns) the accrued additional Commitment Fee owing as a result of such increased Applicable Commitment Fee Percentage for such Applicable Period. This paragraph shall not limit the rights of the
Administrative Agent or the Lenders with respect to Section 2.13 and Article VII hereof, and shall survive the termination of this Agreement; provided that, notwithstanding the foregoing, so long as an Event of Default
described in Section 7.01(i) or Section 7.01(j) has not occurred with respect to any Borrower, such shortfall shall be due and payable five (5) Business Days following the determination described above. 

All Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

“Applicable Margin” shall mean for any day with respect to any LIBOR Loan or any ABR Loan, the applicable margin per
annum set forth below under the caption “LIBOR Loan Spread,” “ABR Loan Spread,” as the case may be, based upon the Quarterly Average Excess Availability Percentage as of the last day of the most recently ended fiscal quarter:

  

									
	 Quarterly Average Excess

Availability Percentage
	  	 LIBOR Loan Spread
	 	 	 ABR Loan Spread
	 
	 Category 1
 < 33%
	  	 	2.00	% 	 	 	1.00	% 
	 Category 2
 > 33%
 < 66%
	  	 	1.75	% 	 	 	0.75	% 
	 Category 3
 > 66%
	  	 	1.50	% 	 	 	0.50	% 

 (i) the Applicable Margin shall be calculated and established once each fiscal quarter, as of the last day of each such
fiscal quarter, and shall remain in effect until adjusted thereafter after the end of each such fiscal quarter, (ii) each adjustment of the Applicable Margin shall be effective as of the first day of a fiscal quarter based on the Quarterly
Average Excess Availability Percentage for the immediately preceding fiscal quarter, (iii) the Applicable Margin from the Closing Date through and including the last day of the first fiscal quarter to end following the Closing Date shall be the
applicable percentage set forth in Category 2 above and thereafter shall be adjusted in accordance with the provisions hereof, (iv) in the event that Borrower fails to provide any Borrowing Base Certificate required hereunder with respect
thereto for any period on the date required hereunder, effective as of the date on which such Borrowing Base Certificate was otherwise required, the Applicable Margin shall be deemed to be Category 1

  
 8 

 
above for all purposes until the date on which such required Borrowing Base Certificate is provided and (v) at any time after the occurrence and during the continuance of an Event of Default
under Section 7.01(b), (c), (i) or (j) is continuing the Applicable Margin shall be deemed to be Category 1 above. 
 Notwithstanding anything to the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined that the Borrowing Base Certificate delivered is inaccurate
(regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any applicable period than the
Applicable Margin applied for such applicable period, then (i) the Borrower shall as promptly as possible deliver to the Administrative Agent a corrected Borrowing Base Certificate for such Applicable Period, (ii) the Applicable Margin
shall be determined based on the corrected Borrowing Base Certificate for such Applicable Period, and (iii) the Borrower shall as promptly as possible pay to the Administrative Agent (for the account of the Lenders during the applicable period
or their successors and assigns) the accrued additional interest owing as a result of such increased Applicable Margin for such Applicable Period pursuant to Section 2.13. This paragraph shall not limit the rights of the Administrative
Agent or the Lenders with respect to Section 2.13(d) and Article VII hereof, and shall survive the termination of this Agreement; provided that, notwithstanding the foregoing, so long as an Event of Default described
in Section 7.01(i) or Section 7.01(j) has not occurred with respect to any Borrower, such shortfall shall be due and payable five (5) Business Days following the determination described above. 

“Applicable Percentage” means, with respect to any Lender, a percentage equal to a fraction the numerator of which is
such Lender’s Commitment and the denominator of which is the Total Commitments; provided that for purposes of Section 2.19 and otherwise herein, when there is a Defaulting Lender, any such Defaulting Lender’s Commitment
shall be disregarded in any such calculations. If the Commitments have terminated or expired, the Applicable Percentages of each Lender shall be determined based on the Revolving Facility Credit Exposure of the applicable Lenders, giving effect to
any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 
 “Applicable
Period” shall have the meaning assigned to such term in the definition of “Applicable Commitment Fee Percentage” 
 “Approved Fund” shall have the meaning specified in Section 9.04(b). 
 “Asset Acquisition” shall mean: 
 (i) an
investment by Holdings or any Restricted Subsidiary of Holdings in any other Person pursuant to which such Person shall become a Restricted Subsidiary of Holdings or any Restricted Subsidiary of Holdings or shall be merged with or into or
consolidated with Holdings or any Restricted Subsidiary of Holdings; or 
 (ii) the acquisition by Holdings or
any Restricted Subsidiary of Holdings of the assets of any person (other than a restricted subsidiary of Holdings) which constitute all or substantially all of the assets of such person or comprise any division or line of business of such person or
any other properties or assets of such person. 

  
 9 

 “Asset Sale” shall mean: 

(i) the sale, lease, conveyance or other disposition of any assets or rights of Holdings and its Restricted Subsidiaries
(including by way of sale and leasback); provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of Holdings and its Restricted Subsidiaries taken as a whole will be subject to the provisions
of Section 6.06 and not Section 6.03; and 
 (ii) the issuance or sale of Equity
Interests in any of the Lead Borrower and its Restricted Subsidiaries (other than Preferred Stock of Restricted Subsidiaries issued in compliance with Section 6.02, directors’ qualifying shares, or shares required by applicable law to be
held by a Person other than the Lead Borrower or a Restricted Subsidiary). 
 Notwithstanding the preceding, none of the following items will be
deemed to be an Asset Sale: 
 (A) any single transaction or series of related transactions that involves assets
or Equity Interests of any Restricted Subsidiary having a Fair Market Value of less than $20.0 million; 
 (B) a
transfer of assets between or among Holdings and any Restricted Subsidiary; provided that any transfers from the Lead Borrower or a Guarantor to a Restricted Subsidiary that is not a Guarantor of assets that constitute Collateral do not
result in the Lien on such Collateral being released; 
 (C) an issuance or sale of Equity Interests by a
Restricted Subsidiary of Holdings to Holdings or to another Restricted Subsidiary of Holdings; 
 (D) the sale or
lease of inventory, products or services or the lease, assignment or sub-lease of any real or personal property; 

(E) the sale or discounting of accounts receivable in the ordinary course of business; 

(F) any sale or other disposition of damaged, worn-out, obsolete or no longer useful assets or properties; 

(G) any sale of assets received by Holdings or any of its Restricted Subsidiaries upon the foreclosure, condemnation or
similar action on a Lien; 
 (H) the sale or other disposition of cash, Cash Equivalents or Marketable
Securities; 
 (I) a Restricted Payment that does not violate the covenant described under
Section 6.01 or a Permitted Investment; 

  
 10 

 (J) any sale of Equity Interests in, or Indebtedness or other securities of,
an Unrestricted Subsidiary; 
 (K) the granting of Liens not otherwise prohibited by this Agreement; 

(L) the grant in the ordinary course of business of any license of patents, trademarks, know-how and any other
intellectual property; 
 (M) the early termination or unwinding of any Hedging Obligations; 

(N) sales, transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant
to, customary buy/sell arrangements between the joint venture parties set forth in joint venture arrangements or similar binding arrangements; 
 (O) the lapse, cancellation or abandonment of intellectual property rights in the ordinary course of business, which in the reasonable good faith determination of the Lead Borrower are not material to the
conduct of the business of the Lead Borrower and the Restricted Subsidiaries taken as a whole; 
 (P) the sale of
any property in a sale and leaseback transaction within six months of the acquisition of such property; 
 (Q)
any disposition of (x) MTBE Assets, (y) Capital Stock of any MTBE Subsidiary or Permitted MTBE Joint Venture and (z) the real property upon which MTBE Assets disposed of pursuant to subclause (x) are located; provided that with
respect to the disposition of real property the boundaries of the real property being disposed of shall have been described in a third-party survey; 
 (R) any transaction occurring as a result of the MLP Formation Transactions or any MLP Drop-Down; and 
 (S) any exchange of assets related to a Permitted Business of comparable market value, as determined in good faith by Holdings 
 In the event that a transaction (or any portion thereof) meets the criteria of a permitted Asset Sale and would also be a permitted Restricted Payment or Permitted Investment, the Lead Borrower, in its
sole discretion, will be entitled to divide and classify such transaction (or any portion thereof) as an Asset Sale and/or one or more of the types of permitted Restricted Payments or Permitted Investments. 

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an assignee, and
accepted by the Administrative Agent and Lead Borrower (if required pursuant to Section 9.04(b)), in substantially the form of Exhibit A or such other form as shall be approved by the Administrative Agent. 

  
 11 

 “Availability” shall mean, as of any date of determination, the lesser of
(a) the then existing current Total Commitments and (b) the Borrowing Base as most recently reported by the Lead Borrower on or prior to such date of determination. 
 “Availability Period” shall mean the period from the Closing Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments. 

“Availability Reserve” shall mean the sum (without duplication) of (a) the Inventory Reserve; (b) the Rent and
Charges Reserve; (c) the Bank Product Reserve, (d) the aggregate amount of liabilities (other than contingent liabilities for which no demand has been made) secured by Liens upon Revolving Facility Priority Collateral that are senior to
the Collateral Agent’s Liens (but imposition of any such reserve shall not waive an Event of Default arising therefrom, if applicable); and (e) such additional reserves, in such amounts and with respect to such matters, as the
Administrative Agent in its Permitted Discretion may elect to impose from time to time. 
 “Available Unused
Commitment” shall mean, with respect to a Revolving Facility Lender, at any time of determination, an amount equal to the amount by which (a) the Commitment of such Revolving Facility Lender at such time exceeds (b) the Revolving
Facility Credit Exposure of such Revolving Facility Lender at such time. 
 “Average Excess Availability
Percentage” shall mean, as of any date of determination with respect to any period, an amount equal to the sum of the actual amount of Excess Availability on each day during such period, as determined by the Administrative Agent, divided by
the number of days in such period. 
 “Average Unused Revolving Facility Balance” shall mean, as of any date of
determination with respect to any period, an amount equal to the sum of (a) the Total Commitments less (b) Revolving Facility Credit Exposure on each day during such period, as determined by the Administrative Agent, divided by the number
of days in such period. 
 “Bank Products” shall mean any of the following products, services or facilities
extended to any Borrower or Subsidiary by a Lender or any of its Affiliates: (a) Cash Management Services; (b) products under Hedge Agreements; (c) commercial credit card and merchant card services; and (d) other banking products
or services as may be requested by any Borrower or Subsidiary, other than loans or letters of credit. 
 “Bank Product
Debt” shall mean Indebtedness and other obligations (including Cash Management Obligations) of a Loan Party relating to Bank Products. 
 “Bank Product Reserve” shall mean the aggregate amount of reserves established by the Administrative Agent from time to time in its discretion in respect of Secured Bank Product
Obligations, which shall in any event include the maximum amount of all Noticed Hedges. 
 “Bankruptcy Code”
shall mean Title 11 of the United States Code, as amended or any similar federal or state law for the relief of debtors. 

  
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 “Bankruptcy Law” shall mean the Bankruptcy Code and any similar federal,
state or foreign law for the relief of debtors. 
 “Board” shall mean the Board of Governors of the Federal
Reserve System of the United States of America. 
 “Board Of Directors” shall mean: 

(i) 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; 
 (ii) with respect to a partnership, the Board of Directors or other governing body of the general partner of the
partnership; and 
 (iii) with respect to a limited liability company, the Board of Directors or other governing body, and in
the absence of same, the manager or board of managers or the managing member or members or any controlling committee thereof. 

“Borrowers” shall mean, collectively, (a) as of the Closing Date, the Lead Borrower and the Designated Borrowers
listed on Schedule I and (b) upon the designation of any other Designated Borrower, the Lead Borrower, the Designated Borrowers listed on Schedule I and such other Designated Borrower and “Borrower” shall mean any
one of them, as the context may require. 
 “Borrowing” shall mean a group of Loans of a single Type and made
on a single date to a Borrower and, in the case of LIBOR Loans, as to which a single Interest Period is in effect. 

“Borrowing Base” shall mean: 
 (a) Subject to clause (b) below, at any time, the amount equal at such time to: 
 (i) eighty-five percent (85%) of the Value of Eligible Accounts Receivable of each Borrower, plus 
 (ii) the lesser of eighty percent (80%) of the Value of Eligible Inventory of each Borrower and eighty-five percent (85%) of the Net Orderly Liquidation Value of Eligible Inventory of each
Borrower; minus 
 (iii) the amount of any Availability Reserves established by the Administrative Agent pursuant to
clause (b) below. 
 (b) The Administrative Agent at any time in the exercise of its Permitted Discretion shall be
entitled, with prior written notice to the Lead Borrower, to (i) establish and increase or decrease any Availability Reserve against Eligible Accounts Receivable and Eligible Inventory and (ii) impose additional restrictions (or eliminate
any such additional restrictions) to the standards of eligibility set forth in the respective definitions of “Eligible Accounts Receivable” and “Eligible Inventory”; provided, that, the establishment or increase of
reserves and the modification of standards of eligibility after the Closing Date, shall require that such 

  
 13 

 
establishment or increase or modification be based on the analysis of facts or events first occurring or first discovered by the Administrative Agent after the Closing Date or that are materially
different from facts or events occurring or known to the Administrative Agent on the Closing Date. 
 (c) For purposes of
clause (a)(i) above, the Value of Eligible Accounts Receivable at any time shall be determined by the Administrative Agent based on the Borrowing Base Certificate most recently delivered pursuant to Section 5.14; provided, that
without limiting the generality of clause (b) above, the Administrative Agent shall be entitled to increase or decrease any Availability Reserve against Eligible Accounts Receivable in its Permitted Discretion based on increases or decreases in
Eligible Accounts Receivable disclosed in any Borrowing Base Certificate delivered pursuant to Section 5.14 (it being understood that in no event shall the Value of Eligible Accounts Receivable as determined from a weekly Borrowing Base
Certificate be more than as determined from the most recently delivered monthly Borrowing Base Certificate. 

“Borrowing Base Certificate” a certificate, in form and substance reasonably satisfactory to Agent, by which Borrowers
certify calculation of the Borrowing Base. 
 “Borrowing Minimum” shall mean in the case of a Borrowing (other
than a Swingline Borrowing), $1,000,000. 
 “Borrowing Multiple” shall mean in the case of a Borrowing (other
than a Swingline Borrowing), $250,000. 
 “Borrowing Request” shall mean a request to be provided by the Lead
Borrower to request a Borrowing of Revolving Facility Loans, in form satisfactory to the Administrative Agent. 

“Business Day” shall mean any day of the year, other than a Saturday, Sunday or other day on which banks are required or
authorized to close in New York, New York, and, where used in the context of LIBOR Loans, is also a day on which dealings are carried on in the London interbank market. 
 “Capital Lease Obligations” shall mean, at the time any determination is to be made, the amount of the liability in respect of a lease that would at that time be required to be
capitalized on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP; provided that any obligations of Holdings or its Restricted Subsidiaries, or of a special purpose or other entity not consolidated with
Holdings and its Restricted Subsidiaries, either existing on the Closing Date or created prior to any re-characterization described below (or any refinancings thereof) (i) that were not included on the consolidated balance sheet of Holdings as
capital lease obligations and (ii) that are subsequently recharacterized as capital lease obligations or, in the case of such a special purpose or other entity becoming consolidated with Holdings and its Restricted Subsidiaries, due to a change
in accounting treatment or otherwise, shall for all purposes not be treated as Capital Lease Obligations or Indebtedness. 

  
 14 

 “Capital Stock” shall mean: 

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

(ii) in the case of an association or business entity that is not a corporation, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock; 
 (iii) in the case of a
partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and 
 (iv) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of
the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 
 “Cash Collateralize” or “cash collateralize” shall mean the delivery of cash or Cash Equivalents to the Administrative Agent, as security for the payment of Obligations,
in an amount equal to (a) with respect to Revolving L/C Exposure or Swingline Exposure, as applicable, 100% of the applicable aggregate Revolving L/C Exposure or Swingline Exposure, as applicable, and (b) with respect to any inchoate,
contingent or other Obligations (including Secured Bank Product Obligations), the Administrative Agent’s and Lead Borrower’s good faith estimate of the amount that is due or could become due, including all fees and other amounts relating
to such Obligations. “Cash Collateralization” or “cash collateralization” have a correlative meaning. 
 “Cash Dominion Period” means (a) the period from the date Excess Availability shall have been less than the greater of (i) 10.0% of Availability and (ii) $20 million for 5
consecutive Business Days to the date Excess Availability shall have been at least equal to the greater of (x) 10.0% of the Availability and (ii) $20 million for 30 consecutive calendar days or (b) upon the occurrence of a Specified
Default, the period that such Specified Default shall be continuing, and in the case of each of clause (a) and (b), the Administrative Agent provides notice to the Lead Borrower of its intent to trigger a Cash Dominion Period. 

“Cash Equivalents” shall mean: 
 (i) United States dollars; 
 (ii) securities issued or directly and
fully guaranteed or insured by the government of the United States or any agency or instrumentality of the United States (provided that the full faith and credit of the United States is pledged in support of those securities) having
maturities of not more than one year from the date of acquisition; 
 (iii) certificates of deposit, and time
deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any Lender or with any financial institution that is a member
of the Federal Reserve System having combined capital and surplus and undivided profits of not less than U.S.$500.0 million, whose debt has a rating, at the time as of which any investment made therein is made of at least A-1 by S&P or at least
P- 1 by Moody’s or having capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 

  
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 (iv) repurchase obligations for underlying securities of the types described
in (ii) and (iii) above entered into with any financial institution meeting the qualifications specified in (iii) above; 
 (v) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P and, in each case, maturing within one year after the date of acquisition; 

(vi) securities issued or fully guaranteed by any state or commonwealth of the United States, or by any political
subdivision or taxing authority thereof having one of the two highest ratings obtainable from Moody’s or S&P, and, in each case, maturing within one year after the date of acquisition; 

(vii) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses
(1) through (5) of this definition; and 
 (viii) Indebtedness or Preferred Stock issued by Persons
with a rating of “A” or higher from S&P or “A-2” from Moody’s with maturities of 24 months or less from the date of acquisition. 
 “Cash Management Obligations” shall mean obligations owed by Holdings or any of its Subsidiaries to any Lender or Affiliate of a Lender in respect of any Cash Management Services, whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor). 

“Cash Management Services” shall mean any services provided from time to time by any Lender or any of its Affiliates to
any Borrower or Subsidiary in connection with operating, collections, payroll, trust, or other depository or disbursement accounts or similar cash management arrangements, including automated clearinghouse, e-Payables, electronic funds transfer,
wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services 

“Change in Control” shall be deemed to occur if: 

(a) at any time prior to an initial public offering of Equity Interests of (x) Holdings, or (y) any other Person who, directly
or indirectly, owns 80% or more of the issued and outstanding Equity Interests of Holdings (a “Parent Company”): 
 (i) fails to own, directly or indirectly, beneficially and of record 100% of the Lead Borrower, 
 (ii) a majority of the seats (other than vacant seats) on the board of directors of the Lead Borrower shall at any time be occupied by Persons who were not nominated by Holdings as shareholder; or

 (iii) a “Change in Control” shall occur under any Junior Lien Indebtedness that is Material
Indebtedness; 

  
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 (b) at any time prior to an initial public offering of Equity Interests of Holdings or any
Parent Company, any combination of Permitted Holders (or a single Permitted Holder) shall fail to own beneficially (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), directly or indirectly, in the aggregate
Equity Interests representing at least 51% of (i) the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Lead Borrower or (ii) the common economic interest represented by the issued and
outstanding Equity Interests of the Lead Borrower; or 
 (c) at any time from and after an initial public offering of Equity
Interests of Holdings or any Parent Company, any Person or group (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), other than any combination of the Permitted Holders (or a single Permitted Holder), shall own
beneficially (as defined above), directly or indirectly, in the aggregate Equity Interests representing 35% or more of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Lead Borrower, and any
combination of the Permitted Holders (including a single Permitted Holder) own beneficially (as defined above), directly or indirectly, a smaller percentage of such ordinary voting power at such time than the Equity Interests owned by such other
Person or group. 
 “Change in Law” shall mean the occurrence, after the date hereof, of (a) the adoption,
of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof; or (c) the making, issuance or application of any request, guideline,
requirement or directive (whether or not having the force of law but if not having the force of law, then being one with which the relevant party would customarily be expected to comply) by any Governmental Authority; provided, however, that
“Change in Law” shall include, regardless of the date enacted, adopted or issued, all requests, guidelines, requirements or directives (i) under or relating to the Dodd-Frank Wall Street Reform and Consumer Protection Act, or
(ii) promulgated pursuant to Basel III by the Bank of International Settlements, the Basel Committee on Banking Supervision (or any similar authority) or any other Governmental Authority. 

“Charges” shall have the meaning specified in Section 9.09. 

“Class,” when used in reference to any Loan or Borrowing, shall refer to whether such Loan, or the Loans comprising such
Borrowing, are Revolving Facility Loans, Extended Revolving Facility Loans or a Swingline Loan. 
 “Closing
Date” shall mean December 20, 2012, and “Closing” shall mean the satisfaction (or waiver) of the conditions precedent set forth in Section 4.02 and the consummation of the Refinancing. 

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

“Collateral” shall mean all the “Collateral” (or equivalent term of the same meaning) as defined in any
Security Document. 

  
 17 

 “Collateral Agent” shall have the meaning specified in the introductory
paragraph of this Agreement. 
 “Collateral Agent and Administrative Agent Appointment Deed” shall mean the
Collateral Agent and Administrative Agent Appointment Deed, dated on or around the date hereof by and among the Collateral Agent, the Administrative Agent, the Loan Parties, the Lenders and the Notes Trustee. 

“Collateral and Guarantee Requirement” shall mean the requirement that: 

(a) on the Closing Date, the Collateral Agent shall have received from each applicable Loan Party a counterpart of each Security Document
listed on Part A of Schedule II, duly executed and delivered on behalf of such Loan Party; 
 (b) on the Closing
Date, the Collateral Agent shall be the beneficiary of a pledge of all the issued and outstanding Equity Interests of (i) the Lead Borrower, (ii) each Wholly Owned Domestic Subsidiary of Holdings and (iii) all other Equity Interests
of any other Subsidiary (provided that in no event shall more than 65% of the issued and outstanding voting Equity Interests and 100% of the outstanding non-voting Equity Interests of (x) any “first tier” Foreign Subsidiary
directly owned by such Loan Party or (y) any Disregarded Domestic Subsidiary directly owned by such Loan Party be pledged to secure Obligations of any Loan Party, and in no event shall any of the issued and outstanding Equity Interests of any
Foreign Subsidiary that is not a “first tier” Foreign Subsidiary or a Domestic Subsidiary held by a Foreign Subsidiary be pledged to secure Obligations of any Loan Party); and the Collateral Agent shall have received all certificates or
other instruments (if any) representing such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank or a copy of a register of Equity Interests showing the registration of a security
interest on the Equity Interests or shall have otherwise received a security interest over and have control (if control is required to perfect such security interest under applicable personal property security legislation) of such Equity Interests
reasonably satisfactory to the Collateral Agent; 
 (c) on the Closing Date, the Collateral Agent shall have received from each
of (i) Holdings, (ii) the Lead Borrower and (iii) each Subsidiary of Holdings listed on Schedule III (except as the Administrative Agent may agree, in its sole discretion (and any such excused Subsidiary will provide a
counterpart of the Loan Document Guarantee pursuant to paragraph (e) below)) a counterpart of the Loan Document Guarantee, duly executed and delivered on behalf of such Loan Party, subject to the terms of such Guarantee; 

(d) within 90 days following the Closing Date, the Collateral Agent shall have received from each applicable Loan Party a counterpart of
each Security Document listed on Part B of Schedule II, duly executed and delivered on behalf of such Loan Party; 

(e) in the case of any Person that becomes a Loan Party after the Closing Date, within the relevant time period set forth in
Section 5.13, the Collateral Agent shall have received a supplement to the Loan Document Guarantee and the applicable Security Documents, in the form specified therein (or, if appropriate, new Security Documents in form substantially
consistent with the existing Security Documents in the same jurisdiction with whatever 

  
 18 

 
amendments are required to reflect the different Collateral), duly executed and delivered on behalf of such Loan Party, subject, in each case, to the terms of such Guarantee or Security Document;

 (f) after the Closing Date, within the relevant time period set forth in Section 5.13, all the outstanding Equity
Interests directly owned by a Loan Party or any Person that becomes a Subsidiary Loan Party, shall have been pledged pursuant to the applicable Security Document to the extent required by the applicable Loan Documents, as applicable, (provided that
in no event shall more than 65% of the issued and outstanding voting Equity Interests and 100% of the outstanding non-voting Equity Interests of (x) any “first tier” Foreign Subsidiary directly owned by such Loan Party or such Person
or (y) any Disregarded Domestic Subsidiary directly owned by such Loan Party or such Person be pledged to secure Obligations of any Loan Party, and in no event shall any of the issued and outstanding Equity Interests of any Foreign Subsidiary
that is not a “first tier” Foreign Subsidiary or a Domestic Subsidiary held by a Foreign Subsidiary be pledged to secure Obligations of any Loan Party), and the Collateral Agent shall have received all certificates or other instruments (if
any) representing such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank or shall have otherwise received a security interest over such Equity Interests; 

(g) all Indebtedness of each Borrower and each Subsidiary of a Borrower having an aggregate principal amount in excess of U.S.$10.0
million (other than intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Borrowers and their Subsidiaries) that is owing to any Loan Party shall be evidenced by a
promissory note or an instrument and shall have been pledged pursuant to the applicable Security Document to the extent required by the applicable Loan Documents, and the Collateral Agent shall have received all such promissory notes or instruments,
together with note powers or other instruments of transfer with respect thereto endorsed in blank within the timeframe prescribed by the applicable Security Document; 
 (h) all documents and instruments, including UCC financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to create the Liens intended to
be created by the Security Documents (in each case, including any supplements thereto) and perfect such Liens to the extent required by, and with the priority required by, the Security Documents, shall have been filed, registered or recorded or
delivered to the Collateral Agent for filing, registration or recording concurrently with, or promptly following, the execution and delivery of each such Security Document or within the timeframe prescribed by each such Security Document;

 (i) each Loan Party shall have obtained all consents and approvals required to be obtained by it in connection with the
execution and delivery of all Security Documents (or supplements thereto) to which it is a party and the granting by it of the Liens thereunder and the performance of its obligations thereunder; 

(j) within ninety (90) days (or such later date as Administrative Agent may agree in its reasonable discretion) of the Closing Date
(or, with respect to any Deposit Account, other than Excluded Deposit Accounts, opened following the Closing Date, the date such Loan Party notifies the Administrative Agent of the opening of such Deposit Account or the date any Person

  
 19 

 
becomes a Loan Party hereunder), (i) each Loan Party shall cause each bank or other depository institution at which any Deposit Account other than any Excluded Deposit Account is maintained,
to enter into a Deposit Account Control Agreement that provides for such bank or other depository institution to transfer to a Dominion Account, on a daily basis, all balances in each Deposit Account other than any Excluded Deposit Account
maintained by any Loan Party with such depository institution for application to the Obligations then outstanding following a Cash Dominion Event, (ii) the Borrowers shall establish the Dominion Account and obtain an agreement (in form
satisfactory to the Administrative Agent) from the Dominion Account bank, establishing the Administrative Agent’s control over and Lien in the Dominion Account, which may be exercised by the Administrative Agent during any Cash Dominion Event,
requiring immediate deposit of all remittances received to a Dominion Account, (iii) each Loan Party irrevocably appoints the Administrative Agent as such Loan Party’s attorney-in-fact to collect such balances during a Cash Dominion Event
to the extent any such delivery is not so made and (iv) each Loan Party shall instruct each Account Debtor to make all payments with respect to Current Asset Collateral into Deposit Accounts subject to Deposit Account Control Agreements;

 (k) within 45 days (or such later date as Administrative Agent may agree in its reasonable discretion) of the Closing Date,
the Administrative Agent shall have received insurance certificates from the Lead Borrower’s insurance broker or other evidence reasonably satisfactory to it that all insurance required to be maintained pursuant to Section 5.02 is
in full force and effect and such certificates shall (i) name the Administrative Agent, as collateral agent on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii) in the case of each
casualty insurance policy, contain a loss payable clause or endorsement, reasonably satisfactory in form and substance to the Administrative Agent, that names the Administrative Agent, on behalf of Lenders as the loss payee thereunder; 

(l) within one hundred and eighty (180) days of the Closing Date (or such longer period as the Administrative Agent shall agree),
the Lead Borrower or a Loan Party, as applicable, shall grant to the Administrative Agent security interests and mortgages in the Mortgaged Property referred to in Schedule 5.10 owned on the Closing Date with a Fair Market Value in excess of
$5,000,000 pursuant to a Mortgage and record or file the Mortgage in such manner and in such places as is required by law to establish, perfect, preserve and protect the Liens pursuant to the Mortgages and pay, all Taxes, fees and other charges
payable in connection therewith. Unless otherwise waived by the Administrative Agent in its reasonable discretion, with respect to each such Mortgage, the Lead Borrower shall deliver to the Administrative Agent contemporaneously therewith (i) a
policy or policies or marked-up unconditional binder of title insurance or foreign equivalent thereof, as applicable, incurring payment reasonably determined by the Lead Borrower and paid for by the Lead Borrower, issued by a nationally recognized
title insurance company insuring the Lien of each such Mortgage as a valid first Lien on the Mortgaged Property described therein, free of any other Liens except as permitted by Section 6.04, together with such endorsements, coinsurance
and reinsurance as the Administrative Agent may reasonably request to the extent available at commercially reasonable rates, (ii) the legal opinions of local counsel in the state where such Mortgaged Property is located, in form and substance
reasonably satisfactory to the Administrative Agent and (iii) the Flood Documentation; and 

  
 20 

 (m) with respect to each of the items identified in this definition of “Collateral and
Guarantee Requirement” that are required to be delivered on a date after the Closing Date, the Administrative Agent, in each case, may (in its sole discretion) extend such date. 

“Commitment” shall mean the amount in U.S. Dollars set opposite each Lender’s name under the heading
“Commitment” in Schedule 2.01. 
 “Commitment Fee” shall have the meaning specified in
Section 2.12(a). 
 “Commitment Letter” shall mean that certain Commitment Letter dated
August 24, 2012, as amended and restated supplemental or otherwise modified, by and among the Lead Borrower, the Administrative Agent, amended, the Joint Lead Arrangers and the other parties thereto. 

“Commitments” shall mean with respect to any Revolving Facility Lender, such Revolving Facility Lender’s Commitment
set forth on Schedule 2.01. 
 “Communications” shall have the meaning specified in Section 9.17.

 “Commodity Agreements” shall mean, in respect of any Person, any forward contract, commodity swap agreement,
commodity option agreement or other similar agreement or arrangement and designed to protect such Person against fluctuation in commodity prices. 
 “Company Group” means the Company, its Restricted Subsidiaries and its MLP Subsidiaries treated as a single entity. 

“Company Material Adverse Effect” shall mean any change, event, occurrence, effect or development that (x) has had
or would reasonably be expected to have a material adverse effect on the business, financial condition or results of operations of the Company (as defined in the Merger Agreement) and its Subsidiaries, taken as a whole or (y) prevents or
materially impedes, materially interferes with or materially delays the consummation of the Transactions (as defined in the Merger Agreement), including the Merger (as defined in the Merger Agreement); provided, that, in the case of clause
(x), none of the following, and no change, event, occurrence, effect or development to the extent arising out of or resulting from the following, shall constitute or be taken into account in determining whether a “Company Material Adverse
Effect” has occurred or would reasonably be expected to occur: 
 (i) any changes, events, occurrences or effects
generally affecting (A) the industries in which the Company (as defined in the Merger Agreement) and its Subsidiaries (as defined in the Merger Agreement) operate (including changes in commodity prices (including prices for butadiene, unleaded
regular gasoline, butane and refinery grade propylene) and in general market prices), (B) changes in prices for feedstocks, including crude C4s, chemical grade propylene, high purity isobutylene, methanol and hydrogen or (C) general
economic conditions, political conditions or credit, financial or capital markets in the United States or elsewhere in the world, including changes in interest or exchange rates; or 

(ii) any changes, events, occurrences or effects arising out of, resulting from or attributable to (A) changes or proposed or
prospective changes after the date hereof in 

  
 21 

 
Applicable Laws (as defined in the Merger Agreement), applicable regulations of any Governmental Authority, generally accepted accounting principles or accounting rules or standards (including
the accounting rules and regulations of the SEC), or any changes or proposed or prospective changes after the date hereof in the interpretation or enforcement of any of the foregoing, (B) the announcement of the Merger Agreement or the pendency
or consummation of the Transactions (as defined in the Merger Agreement), including the impact thereof on relationships, contractual or otherwise, with customers, suppliers, distributors, partners, employees (including the loss or departure of
officers or other employees) or regulators, or any stockholder or other litigation (or settlement thereof) relating to the Merger Agreement or the Transactions (as defined in the Merger Agreement) (provided that the exceptions in this clause
(ii)(B) shall not be deemed to apply to references to “Company Material Adverse Effect” in the representations and warranties set forth in Section 4.6 of the Merger Agreement and, to the extent related thereto, the condition in
Section 7.2(a) of the Merger Agreement), (C) hostilities, acts of war (whether or not declared), sabotage or terrorism, or any escalation or worsening of any such hostilities, acts of war (whether or not declared), sabotage or terrorism,
(D) pandemics, earthquakes, hurricanes, tornados or other natural disasters, (E) any action taken by the Company (as defined in the Merger Agreement) or its Subsidiaries at Parent’s (as defined in the Merger Agreement) or Merger
Sub’s (as defined in the Merger Agreement) written request or compliance by the Company (as defined in the Merger Agreement) or its Subsidiaries with Sections 6.5(c), 6.13, and 6.18 of the Merger Agreement, (F) any change in the
Company’s (as defined in the Merger Agreement) credit ratings, (G) any decline in the market price, or change in trading volume, of any capital stock of the Company (as defined in the Merger Agreement), or (H) any failure to meet any
internal or public projections, forecasts or estimates of the Company’s (as defined in the Merger Agreement) revenue, earnings or other financial or operating performance or results of operations for any period; 

provided, that (x) changes, events, occurrences or effects set forth in clauses (i)(A) through (C), (ii)A,
(ii)(C) and (ii)(D) above may be taken into account in determining whether there has been or would reasonably be expected to be a Company Material Adverse Effect if and to the extent such changes, events, occurrences or effects have a
disproportionate adverse effect on the Company (as defined in the Merger Agreement) and its Subsidiaries, taken as a whole, in relation to others in the industries in which the Company (as defined in the Merger Agreement) and its Subsidiaries (as
defined in the Merger Agreement) operate, and (y) the underlying cause of any failure referred to in clause (ii)(F), (ii)(G) or (ii)(H) (if not otherwise falling within any of the other exceptions provided by clause (i) and clause
(ii) above) may be taken into account in determining whether there has been or would reasonably be expected to be a Company Material Adverse Effect. 
 “Consolidated Adjusted EBITDA” shall mean, with respect to Holdings and its Restricted Subsidiaries, the Consolidated Net Income of Holdings and its Restricted Subsidiaries for such
period (A) plus, without duplication to the extent the same was deducted in calculating Consolidated Net Income: 
 (i) provision for taxes based on income, profits or capital, including without limitation provincial, state, franchise, local, foreign and similar taxes, of Holdings and its Restricted Subsidiaries, to
the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 

  
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 (ii) the Fixed Charges of Holdings and its Restricted Subsidiaries for such
period (including net losses on Hedging Obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, to the extent included in Fixed Charges), to the extent that such Fixed Charges were deducted in
computing such Consolidated Net Income; plus 
 (iii) depreciation, amortization (including the
amortization of goodwill and other intangibles, deferred financing fees and any amortization included in pension, OPEB or other employee benefit expenses, but excluding amortization of prepaid cash expenses that were paid in a prior period) and
other non-cash expenses (including without limitation write-downs and impairment of property, plant, equipment and intangibles and other long-lived assets (including pursuant to the application of ASC 350 and ASC 360 (formerly Financial Accounting
Standards Board Statement Nos. 142 and 144, respectively)) and the impact of purchase accounting, but excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of Holdings and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such
Consolidated Net Income; plus  
 (iv) the amount of any restructuring charges (which, for the avoidance
of doubt, shall include turnaround costs, retention, severance, integration, business optimization, systems establishment cost or excess pension, OPEB, curtailment or other excess charges); provided that add-backs for any cash charges under
this clause (iv) shall not exceed 10% of Consolidated Adjusted EBITDA for any four-fiscal quarter period (calculated before giving effect to any such add-backs and adjustments) if such charges are not of the type that would be permitted
to be included in pro forma financial statements prepared in accordance with Regulation S-X under the Securities Act; plus  
 (v) the minority expense relating to any partner in a joint venture which is consolidated with the Lead Borrower for accounting purposes and the minority interest expense consisting of subsidiary income
attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary in such period or any prior period, except to the extent of dividends declared or paid on Equity Interests held by third parties; plus  

(vi) the amount of management, consulting, monitoring and advisory fees and related expenses paid to the Equity Investors
or any other Permitted Holder (or any accruals related to such fees and related expenses) during such period; provided that such amount shall not exceed in any four quarter period the greater of (x) $2.5 million and (y) 1.0% of
Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries for such period; plus  
 (vii)
accretion of asset retirement obligations in accordance with SFAS No. 143, Accounting for Asset Retirement Obligations, and any similar accounting in prior periods; plus 

(viii) [reserved]; plus  

  
 23 

 (ix) to the extent not otherwise included, the proceeds of any business
interruption insurance received during such period; minus 
 (B) the sum of (i) non-cash items increasing such
Consolidated Net Income for such period (other than (x) any items which represent the reversal of any accrual of, or cash reserve for, anticipated charges in any prior period where such accrual or reserve is no longer required and (y) any
items which represent the impact of purchase accounting) plus (ii) the minority interest income consisting of subsidiary losses attributable to the minority equity interests of third parties in any non-Wholly Owned Restricted Subsidiary.
Notwithstanding anything to the contrary contained herein, financial ratios and tests (including Fixed Charge Coverage Ratio, the Senior Secured Leverage Ratio or Total Assets (including component definitions thereof)) pursuant to this Agreement
shall be calculated on a “pro forma basis.” “pro forma basis” or “pro forma effect” shall means that (A) to the extent applicable, the Pro Forma Adjustment shall have been made and (B) all
Subject Transactions and the following transactions in connection therewith shall be deemed to have occurred as of the first day of the applicable period of measurement with respect to any test or covenant for which such calculation is being made:
(a) income statement items (whether positive or negative) attributable to the property or Person subject to such Subject Transaction, (i) in the case of a sale, transfer or other disposition of all Capital Stock of any subsidiary of the
Borrowers or any division or product line of the Borrowers or any of their Subsidiaries or any designation of a Restricted Subsidiary as an Unrestricted Subsidiary, shall be excluded, and (ii) in the case of a Permitted Acquisition, Permitted
Investment or designation of an Unrestricted Subsidiary as a Restricted Subsidiary described in the definition of the term “Subject Transaction”, shall be included, (b) in the case of any incurrence, retirement or repayment by the
Borrowers or any of their subsidiaries of Indebtedness with reference to or reliance upon the Fixed Charge Coverage Ratio or the Senior Secured Leverage Ratio (and the application of the proceeds thereof) giving rise to the need to make such
calculation and any incurrence, retirement or repayment of other Indebtedness (and the discharge of any other Indebtedness retired or repaid with the proceeds of such incurred Indebtedness shall be calculated as if such discharge had occurred on the
first day of the applicable period of measurement); provided that, in the case of this clause (b), if such Indebtedness has a floating or formula rate, such Indebtedness shall have an implied rate of interest for the applicable period
for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness at the relevant date of determination (taking into account any interest hedging arrangements applicable to such
Indebtedness), and (c) the acquisition of any Total Assets, whether pursuant to any Subject Transaction or any Person becoming a Subsidiary or merging, amalgamating or consolidating with or into the Borrowers or any of their Restricted
Subsidiaries; provided that, without limiting the application of the Pro Forma Adjustment pursuant to clause (a) above (but without duplication thereof or in addition thereto), the foregoing pro forma adjustments described in
clause (a) above may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of “Consolidated Adjusted EBITDA” and give effect to events (including operating expense
reductions) that are consistent with the definition of the term “Pro Forma Adjustment”. 
 “Consolidated
Capital Expenditures” shall mean, for any period, the aggregate of all expenditures of Holdings and its Restricted Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included
in “purchase of 

  
 24 

 
property and equipment” or similar items reflected in the consolidated statement of cash flows of Holdings and its Subsidiaries; provided that Consolidated Capital Expenditures shall
not include any expenditures that are Designated Project Phoenix Capital Expenditures. 
 “Consolidated Net
Income” shall mean, with respect to Holdings and its Restricted Subsidiaries, the aggregate of the Net Income of Holdings and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP;
provided that: 
 (i) any net after-tax extraordinary, unusual or nonrecurring gains or losses or income
or expense or charge (including, without limitation, income, expenses and charges from litigation and arbitration settlements, severance, relocation and other restructuring costs), any severance or relocation expense, pre operating expenses that are
expensed and not capitalized, and fees, expenses or charges related to any offering of Equity Interests of such Person, any Investment, acquisition, disposition or incurrence or repayment of Indebtedness or other obligations permitted to be incurred
hereunder (in each case, whether or not successful), including all fees, expenses and charges, and any financing charges, including penalty interest and bank charges, related to any Indebtedness or other obligations, in each case shall be excluded;
provided that, solely for purposes of calculating the Fixed Charge Coverage Ratio, the aggregate amount of actual cash portion of such exclusion incurred during such period shall not to exceed 10.0% of Consolidated Net Income for such period
(calculated before giving effect to any such items); 
 (ii) any net after-tax income or loss from disposed,
abandoned, transferred, closed or discontinued operations and any net after-tax gain or loss on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; 

(iii) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by Holdings) shall be excluded; 
 (iv) any net after-tax income or loss (less all fees and expenses or charges relating thereto) attributable to the early extinguishment of indebtedness and Hedging Obligations or other derivative
instruments shall be excluded; 
 (v) (A) the Net Income for such period of any Person that is not a
Subsidiary, or that is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments in respect of equity that are actually
paid in cash (or to the extent converted into cash) by the referent Person to Holdings or a Restricted Subsidiary thereof in respect of such period and (B) the Net Income for such period shall include any dividend, distribution or other
payments in respect of equity paid in cash by such Person to Holdings or a Restricted Subsidiary thereof in excess of the amount included in clause (A); 
 (vi) any increase in depreciation, or amortization or any one-time non-cash charges (such as purchased in-process research and development or capitalized manufacturing profit in inventory) resulting from
purchase accounting in connection with any acquisition that is consummated prior to or after the Closing Date shall be excluded; 

  
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 (vii) accruals and reserves that are established within twelve months after
an acquisition’s closing date and that are so required to be established as a result of such transaction in accordance with GAAP or as a result of a modification of accounting policies shall be excluded; 

(viii) any impairment charges resulting from the application of ASC 350 and ASC 360 (formerly Financial Accounting
Standards Board Statement Nos. 142 and 144, respectively) and the amortization of intangibles pursuant to ASC 805 (formerly Financial Accounting Standards Board Statement No. 141) or asset write-offs shall be excluded; 

(ix) any long-term incentive plan accruals and any compensation expense realized from grants of stock appreciation or
similar rights, stock options or other rights to officers, directors and employees of Holdings or any of its Restricted Subsidiaries shall be excluded; 
 (x) any asset impairment writedowns under GAAP or SEC guidelines shall be excluded; 
 (xi) (A) any unrealized non-cash gains or losses or charges in respect of Hedging Obligations (including those resulting from the application of Statement of Financial Accounting Standard
No. 133), (B) any foreign exchange gains and losses and (C) any adjustments for financial instruments, derivatives or Hedging Obligations required by GAAP shall be excluded except for any realized exchange gains or losses on
derivative instruments which are included as offsets to operating items as part of a designated hedging relationship; 
 (xii) the cumulative effect of a change in accounting principles will be excluded; and 
 (xiii) any non-cash compensation expense realized from employee benefit plans or post-employment benefit plans, grants of stock appreciation or similar rights, stock options or other rights to officers,
directors and employees of such Person or any of its Restricted Subsidiaries shall be excluded. 
 “Consolidated Total
Indebtedness” shall mean, as at any date of determination, an amount equal to the sum of (a) the aggregate amount of all outstanding Indebtedness of Holdings and its Restricted Subsidiaries on a consolidated basis consisting of
Indebtedness for borrowed money and debt obligations evidenced by promissory notes and similar instruments, as determined in accordance with GAAP (excluding for the avoidance of doubt all undrawn amounts under revolving credit facilities and letters
of credit, all Hedging Obligations and all Capital Lease Obligations) and (b) the aggregate amount of all outstanding Disqualified Stock of the Holdings and its Restricted Subsidiaries on a consolidated basis, with the amount of such
Disqualified Stock equal to the greater of their respective voluntary or involuntary liquidation preferences and maximum fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP. For purposes hereof, the
“maximum fixed repurchase price” of 

  
 26 

 
any Disqualified Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any
date on which Consolidated Total Indebtedness shall be required to be determined pursuant to this Agreement, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock, such fair market value shall be
determined reasonably and in good faith by Holdings. The U.S. dollar-equivalent principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging
Obligations for currency exchange risks with respect to the applicable currency in effect on the date of determination of the U.S. dollar-equivalent principal amount of such Indebtedness. 

“Contingent Obligations” shall mean, with respect to any Person, any obligation of such Person guaranteeing any
performance, leases, dividends, taxes or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person in any manner, whether directly or indirectly, including, without limitation, any obligation of such
Person, whether or not contingent: 
 (i) to purchase any such primary obligation or any property constituting
direct or indirect security thereof, 
 (ii) to maintain working capital or equity capital of the Primary Obligor
or otherwise to maintain the net worth or solvency of the Primary Obligor; or 
 (iii) to purchase property,
securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the Primary Obligor to make payment of such obligation against loss in respect thereof. 

“Control” shall mean 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 ownership of voting securities, by contract or otherwise, and “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Control Agreement” shall mean an agreement in writing, in form and substance reasonably satisfactory to Collateral
Agent, by and among Collateral Agent, the applicable Loan Party and any financial institution, securities intermediary, commodity intermediary or other Person who has custody, control or possession of any receipts on Accounts, deposits or investment
property of such Loan Party, pursuant to which such financial institution, securities intermediary, commodity intermediary or such other Person acknowledges that such financial institution, securities intermediary, commodity intermediary or other
Person has custody, control or possession of such receipts, deposits or investment property on behalf of Collateral Agent, that it will comply with entitlement orders originated by Collateral Agent with respect to such receipts, deposits or
investment property, or other instructions of Collateral Agent, or (as the case may be) apply any amounts distributed on account of such assets as directed by Collateral Agent, in each case, without the further consent of such Loan Party and
including such other terms and conditions as Collateral Agent may reasonably require not inconsistent with the terms of this Agreement. 

  
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 “Credit Event” shall have the meaning specified in Article IV.

 “CST” shall mean the time in the Central Time Zone of the United States. 

“Cure Amount” shall have the meaning specified in Section 7.02(a). 

“Cure Right” shall have the meaning specified in Section 7.02(a). 

“Currency Agreement” shall mean in respect of a Person, any foreign exchange contract, currency swap agreement, futures
contract, option contract or other similar agreement as to which such Person is a party or a beneficiary. 

“Default” shall mean any event or condition that upon notice, lapse of time or both would constitute an Event of
Default. 
 “Defaulting Lender” shall mean any Lender with respect to which a Lender Default is in effect.

 “Deposit Account” means a demand, concentration, time, savings, passbook or similar account maintained with
a Person engaged in the business of banking, including a savings bank, savings and loan association, credit union, trust company or like organization, other than an account evidenced by a negotiable certificate of deposit or other instrument.

 “Designated Borrower” shall mean each Subsidiary of Holdings listed on Schedule I hereto or that
becomes a party hereto pursuant to Section 2.21. 
 “Designated Non-cash Consideration” shall mean
the Fair Market Value of non-cash consideration received by Holdings or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as “Designated Non-cash Consideration” pursuant to an Officers’
Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Non-cash Consideration. 

“Designated Project Phoenix Capital Expenditures” shall mean capital expenditures in connection with any MTBE Asset not
to exceed in the aggregate $85.0 million. 
 “Designated Project Phoenix Cash” shall mean the cash and Cash
Equivalents of Holdings and its Restricted Subsidiaries that is reserved for Designated Project Phoenix Capital Expenditures. The amount of Designated Project Phoenix Cash on the Closing Date is $85.0 million. 

“Disqualified Stock” shall mean any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the notes mature. Notwithstanding the preceding sentence, any Capital Stock will not constitute
Disqualified Stock solely because the holders of the Capital Stock have the right to require Holdings to repurchase such Capital Stock upon the occurrence of 

  
 28 

 
a change of control or an asset sale. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Agreement will be the maximum amount that Holdings and its
Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends. 

“Disregarded Domestic Subsidiary” shall mean any direct or indirect (other than through a Foreign Subsidiary) Domestic
Subsidiary of which substantially all of its assets consist of Equity Interests and/or of one or more indirect Foreign Subsidiaries. 
 “Dividend Restricted Payment Conditions” means (a) there is no Default or Event of Default existing immediately before or after such transaction, (b) each of (x) the
quotient obtained by dividing (i) the sum of each day’s Excess Availability during the 30-consecutive day period immediately preceding the proposed transaction by (ii) 30 (such quotient, the “30 Day Excess
Availability”) and (y) Excess Availability on the date of the proposed transaction (in each case, calculated on a pro forma basis for such Restricted Payment and/or draw under the Revolving Facility) is equal to or greater than the
greater of (A) $50 million and (B) 20% of Availability, (c) the Fixed Charge Coverage Ratio is at least 1.00 to 1.00; provided that if each of (x) pro forma 30 Day Excess Availability and (y) pro forma Excess
Availability (in each case, calculated on a pro forma basis for such Restricted Payment and/or draw under the Revolving Facility) is greater than 25% of Availability at such time clause (c) shall not apply and (d) the Lead Borrower shall
have delivered a customary officer’s certificate to the Administrative Agent certifying as to compliance with the requirements of clauses (a) through (c) (if applicable). 

“Domestic Subsidiaries” shall mean all Subsidiaries incorporated or organized under the Laws of the United States of
America, any State thereof or the District of Columbia. 
 “Dominion Accounts” shall have the meaning specified
in Section 2.26. 
 “Eligible Accounts Receivable” shall mean an Account owing to any Borrower
which is acceptable to the Administrative Agent in its Permitted Discretion, and shall exclude any such Account that the Collateral Agent determines in its Permitted Discretion to be ineligible pursuant to the definition of “Borrowing
Base.” Without limiting the Administrative Agent’s Permitted Discretion, the Collateral Agent shall, in general, consider an Account to be an Eligible Accounts Receivable if it meets, and so long as it continues to meet, the following
requirements (and unless otherwise approved in writing by the Administrative Agent, any Account that fails to meet such requirements shall not be an Eligible Account Receivable): 

(i) it is genuine and in all respects what it purports to be; 

(ii) it is owned by a Borrower, such Borrower has the right to subject it to a security interest in favor of Collateral
Agent or assign it to Collateral Agent and it is subject to a first priority perfected security interest in favor of Collateral Agent and to no other claim, lien, security interest or encumbrance whatsoever, other than Permitted Liens; 

(iii) it arises from (A) the performance of services by a Borrower in the ordinary course of such Borrower’s
business, and such services have been fully performed and acknowledged and accepted by the account debtor thereunder; or (B) the 

  
 29 

 
sale or lease of goods by a Borrower in the ordinary course of such Borrower’s business, and (x) such goods have been completed in accordance with the account debtor’s
specifications (if any) and delivered or shipped to the account debtor, (y) such account debtor has not refused to accept, returned or offered to return, any of the goods which are the subject of such Account, and (z) if applicable, such
Borrower has possession of, or such Borrower has delivered to the Collateral Agent (at the Administrative Agent’s request) shipping and delivery receipts evidencing delivery of such goods; 

(iv) it is evidenced by an invoice rendered to the account debtor thereunder (or the goods have been shipped and title
passed prior to invoice, with an invoice to be rendered within 30 days thereafter and, in any event, no later than the 15th of the month following the month such goods have been shipped), that is due and payable within sixty days after the date of
the invoice and does not remain unpaid sixty days past the due date thereof (forty-five days past the date of the invoice in the case of an Account eligible pursuant to clause (x)(2) below); provided, however, that if more than fifty percent
(50%) of the aggregate dollar amount of invoices owing by a particular account debtor remain unpaid sixty days after the respective due dates thereof, then all Accounts owing by that account debtor shall be deemed ineligible; 

(v) it is a valid, legally enforceable and unconditional obligation of the account debtor thereunder, and is not subject
to setoff, counterclaim, credit, allowance or adjustment by such account debtor, or to any claim by such account debtor denying liability thereunder in whole or in part; 

(vi) it does not arise out of a contract or order which fails in any material respect to comply with the requirements of
applicable law; 
 (vii) the account debtor thereunder is not an Affiliate of a Loan Party; 

(viii) it is not an Account with respect to which the account debtor is the United States of America or any state or
local government, or any department, agency or instrumentality thereof, unless such Borrower assigns its right to payment of such Account to Collateral Agent pursuant to, and in full compliance with, the Assignment of Claims Act of 1940, as amended,
or any comparable state or local law, as applicable; 
 (ix) it is not an Account with respect to which the
account debtor is located in a state which requires such Borrower, as a precondition to commencing or maintaining an action in the courts of that state, either to (A) receive a certificate of authority to do business and be in good standing in
such state; or (B) file a notice of business activities report or similar report with such state’s taxing authority, unless (x) such Borrower has taken one of the actions described in clauses (A) or (B); (y) the failure to
take one of the actions described in either clause (A) or (B) may be cured retroactively by such Borrower at its election; or (z) such Borrower has proven, to the Administrative Agent’s satisfaction, that it is exempt from any
such requirements under any such state’s laws; 

  
 30 

 (x) the Account is payable in U.S. Dollars and the account debtor is
located either (A) within the United States of America or Canada or (B) within a foreign country (other than Canada) and either (i) the Account is supported or secured by an irrevocable letter of credit which is in form and substance
satisfactory to the Administrative Agent and issued by a financial institution acceptable to the Administrative Agent and the Collateral Agent has a first priority perfected security interest in such letter of credit and the related Letter-of-credit
rights and Supporting obligations (each as defined in the UCC or (ii) the amount of such Account when aggregated with all other Accounts the account debtors of which are located within a foreign country other than Canada and which do not meet
the requirements of clause (i) above does not exceed $5,000,000); 
 (xi) it is not an Account with respect
to which the account debtor’s obligation to pay is subject to any repurchase obligation or return right, as with sales made on a bill-and-hold, guaranteed sale, sale on approval, sale or return or consignment basis; 

(xii) it is not an Account (A) with respect to which any representation or warranty contained in this Agreement is
untrue; or (B) which violates any of the covenants of the Borrowers contained in this Agreement; 
 (xiii)
it is not an Account which, when aggregated with all other Accounts of such account debtor (and any Affiliate thereof), exceeds 20 percent (20%), in face value of all Accounts of the Borrowers combined then outstanding, to the extent of such excess;
provided that Accounts insured in a manner satisfactory to the Administrative Agent, guaranteed by a guarantor reasonably acceptable to the Administrative Agent or supported or secured by an irrevocable letter of credit in form and substance
satisfactory to the Administrative Agent and issued by a financial institution satisfactory to the Administrative Agent and the Collateral Agent has a first priority perfected security interest in such letter of credit and related Letter-of-Credit
Rights and Supporting Obligations (each as defined in the UCC), shall be excluded for the purposes of such calculation to the extent of the face amount of such letter of credit or, in the case of insurance or guarantees, as determined by the
Administrative Agent in its Permitted Discretion; 
 (xiv) it is not an account the account debtor of which has
commenced a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or made an assignment for the benefit of creditors, or if a decree or order for relief has been entered by a court having jurisdiction over the
account debtor in an involuntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or if any other petition or other application for relief under the federal bankruptcy laws has been filed by or against the account
debtor, or if the Administrative Agent in its Permitted Discretion determined that such a filing may occur or if the account debtor has filed a certificate of dissolution under applicable state law or shall be liquidated, dissolved or wound-up, or
shall authorize or commence any action or proceeding for dissolution, winding-up or liquidation, or if the account debtor has failed, suspended business, declared itself to be insolvent, is generally not paying its debts as

  
 31 

 
they become due or has consented to or suffered a receiver, trustee, liquidator or custodian to be appointed for it or for all or a significant portion of its assets or affairs (any such act or
event an “Act of Bankruptcy”), unless the payment of Accounts from such account debtor is secured by assets of, or guaranteed by, in either case in a manner satisfactory to the Administrative Agent, a Person with respect to
which an Act of Bankruptcy has not occurred and that is acceptable to the Administrative Agent or, if the Account from such account debtor arises subsequent to a decree or order for relief with respect to such account debtor under the federal
bankruptcy laws, as now or hereafter in effect, the Administrative Agent shall have determined that the timely payment and collection of such Account will not be impaired; and 

(xv) the goods giving rise to such Account are not Eligible Inventory of a Borrower included in the same Borrowing Base
calculation. 
 “Eligible Inventory” shall mean Inventory of a Borrower which is acceptable to the
Administrative Agent in its Permitted Discretion and shall exclude any Inventory that the Administrative Agent determines in its Permitted Discretion to be ineligible pursuant to the definition of “Borrowing Base.” Without limiting the
Administrative Agent’s Permitted Discretion, the Administrative Agent shall, in general, consider Inventory to be Eligible Inventory if it meets, and so long as it continues to meet, the following requirements (and unless otherwise approved in
writing by the Administrative Agent any Inventory that fails to meet such requirements shall not be Eligible Inventory): 
 (i) it is owned by a Borrower, such Borrower has the right to subject it to a security interest in favor of Collateral Agent and it is subject to a first priority perfected security interest in favor of
Collateral Agent and to no other claim, lien, security interest or encumbrance whatsoever, in each case other than Permitted Liens; 
 (ii) it is located on one or more of the premises listed on Schedule 1.01(b) to this Agreement (or other locations of which the Administrative Agent has been advised in writing) and is not in
transit (except for (A) Inventory in transit to or from one of such locations listed on Schedule 1.01(b) to this Agreement (or of which the Administrative Agent has been notified in writing) to another location in the United States and
(B) foreign in-transit Inventory not exceeding $5,000,000 and which is subject to customary protections in favor of the Administrative Agent in its Permitted Discretion); 

(iii) if held for sale or lease or furnishing under contracts of service, it is (except as the Administrative Agent may
otherwise consent in writing) new and unused and free from defects which would, in the Administrative Agent’s Permitted Discretion, adversely affect its market value; 

(iv) it is not stored with a bailee, consignee, warehouseman, processor or similar party unless such Borrower has caused
any such bailee, consignee, warehouseman, processor or similar party to issue and deliver to Collateral Agent, in form and substance reasonably acceptable to Collateral Agent, such Uniform Commercial Code financing statements, warehouse receipts,
Lien Waivers and other documents as 

  
 32 

 
Collateral Agent shall reasonably require or a 3 month reserve of rent or charges is maintained with respect thereto as determined in the Permitted Discretion of the Administrative Agent;

 (v) the Administrative Agent has determined, in its Permitted Discretion and in the customary business
practices of the Administrative Agent, that it is not unacceptable due to age, type, category or quantity; 

(vi) Inventory subject to an Eligible Positive Exchange Balance not exceeding $10,000,000; and 

(v) it is not Inventory (A) with respect to which any of the representations and warranties contained in this
Agreement are untrue; or (B) which violates any of the covenants of the Borrowers contained in this Agreement. 

“Eligible Positive Exchange Balance” means, at any date of determination, the amount of the positive balance of
the Inventory that a Borrower has a right to receive from a trading partner under an exchange agreement or money owing to such Borrower in connection with such exchange of Inventory under an exchange agreement, net of any offsets or counterclaims,
and only to the extent such Borrower’s rights in such Inventory are subject to a valid, first priority (subject only to Liens permitted by this Agreement that by operation of law have priority), perfected security interest in favor of the
Administrative Agent as security for the Obligations; provided that the value of the eligible positive exchange agreement balance shall be subject to Availability Reserves as determined by the Administrative Agent in its
Permitted Discretion. 
 “Enforcement Action” any action to enforce any Secured Obligations (other than
Secured Bank Product Obligations) or Loan Documents or to exercise any rights or remedies relating to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, exercise of any right to
act in an Loan Party’s bankruptcy, insolvency, receivership or similar proceeding or to credit bid Secured Obligations, or otherwise). 
 “Environment” shall mean ambient and indoor air, surface water and groundwater (including potable water, navigable water and wetlands), the land surface or subsurface strata or sediment,
natural resources such as flora and fauna or as otherwise defined as “environment” or “natural environment” in any Environmental Law. 
 “Environmental Claim” shall mean any and all actions, suits, demands, demand letters, claims, liens, notices of non- compliance or violation, notices of liability or potential liability,
investigations, charge, indictments, proceedings, orders or consent agreements relating in any way to any Environmental Law or any Hazardous Material. 
 “Environmental Law” shall mean, collectively, all federal, state, provincial, local or foreign laws, including rules of common law and equity, statutes, ordinances, regulations, rules,
codes, orders, judgments or other requirements or rules of law that relate to (a) the prevention, abatement or elimination of pollution, or the protection of the Environment, natural resources or

  
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human health, or natural resource damages, and (b) the use, generation, handling, treatment, storage, disposal, Release, transportation or regulation of or exposure to Hazardous Materials,
including the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. §§ 9601 et seq., the Endangered Species Act, 16 U.S.C. §§ 1531 et seq., the Solid Waste Disposal Act, as amended
by the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et seq., the Clean Air Act, 42 U.S.C. §§ 7401 et seq., the Clean Water Act, 33 U.S.C. §§ 1251 et seq., the Toxic
Substances Control Act, 15 U.S.C. §§ 2601 et seq., the Emergency Planning and Community Right to Know Act, 42 U.S.C. §§ 11001 et seq., each as amended, and their foreign, state, provincial or local
counterparts or equivalents. 
 “Equity Interests” shall mean Capital Stock and all warrants, options or other
rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Equity Investors” shall mean each of FR XII Alpha AIV, L.P., FR XII-A Alpha AIV, L.P., FR XII Charlie AIV, L.P., FR
XII-A Charlie AIV, L.P. and SK Capital Partners III, L.P., and their respective Affiliates. 
 “ERISA” shall
mean the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. 
 “ERISA
Affiliate” shall mean any trade or business (whether or not incorporated) that, together with any Borrower or any Subsidiary of a Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely
for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 
 “ERISA Event” shall mean (a) any Reportable Event; (b) the existence with respect to any Plan, of an “accumulated funding deficiency” (as defined in Section 412
of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect
to any Plan, the failure to make by its due date a required installment under Section 412(m) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan; (d) the incurrence by a Borrower,
any Subsidiary of a Borrower or any ERISA Affiliate of any liability under Title IV of ERISA; (e) the receipt by a Borrower, any Subsidiary of a Borrower or any ERISA Affiliate from the PBGC or a plan administrator, of any notice relating
to an intention to terminate any Plan, or to appoint a trustee to administer any Plan under Section 4042 of ERISA, or the occurrence of any event or condition which could be reasonably be expected to constitute grounds under ERISA for the
termination of, or the appointment of a trustee to administer, any Plan; (f) the incurrence by any Borrower, any Subsidiary of a Borrower or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan
or Multiemployer Plan; (g) the receipt by any Borrower, any Subsidiary of a Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from a Borrower, a Subsidiary of a Borrower or any ERISA Affiliate of any
notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; or (h) the occurrence of a nonexempt
prohibited transaction (within the meaning of Section 4975 of the Code or Section 406 of ERISA) which could reasonably be expected to result in liability to a Borrower or Subsidiary of a Borrower. 

  
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 “Event of Default” shall have the meaning specified in
Section 7.01. 
 “Excess Availability” shall mean, at any time, an amount equal to (a) the
then effective Availability minus (b) Revolving Facility Credit Exposure then outstanding. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Excluded Deposit Accounts” shall
mean any payroll, trust and tax withholding accounts used exclusively for such purposes and so long as no other funds are comingled in such payroll, trust and tax withholding accounts. 

“Excluded Indebtedness” shall mean all Indebtedness permitted to be incurred under Section 6.02. 

“Excluded Subsidiary” shall mean, any (a) Unrestricted Subsidiary, (b) Immaterial Subsidiary, (c) any
Subsidiary that is not a Wholly Owned Domestic Subsidiary, (d) any Subsidiary of the Borrower that is a direct or indirect Domestic Subsidiary of a Foreign Subsidiary (e) any Domestic Subsidiary that is a disregarded entity for U.S.
federal income tax purposes substantially all of whose assets consist of capital stock and/or indebtedness of one or more foreign subsidiaries and any assets incidental thereto, (f) any subsidiary that is a captive insurance company,
(g) any not-for-profit Subsidiary, (h) any Subsidiary that is prohibited by applicable law or regulation from providing a Guarantee of the Obligations (for so long as such restrictions or any replacement or renewal thereof is in effect),
(i) any Subsidiary that is prohibited by an enforceable contractual obligation existing on the Closing Date (or applicable date of acquisition or formation) from providing a Guarantee of the Obligations and (j) any Subsidiary to the extent
providing a Guarantee of the Obligations would result in material adverse tax consequences to Holdings or any Subsidiary as reasonably determined by the Parent Borrower in consultation with the Administrative Agent. 

“Excluded Taxes” shall mean, with respect to any Agent, any Lender, any Issuing Bank or any other recipient of any
payment to be made by or on account of any obligation of any Loan Party under any Loan Document, (a) income, franchise and similar taxes, in each case imposed on (or measured by) net income or net profits by the jurisdiction under the laws of
which such recipient is organized or in which its principal office is located or any jurisdiction in which such recipient has a present or former connection (other than any such connection arising solely from any Loan Document and any transaction
contemplated therein) or, in the case of any Lender or Issuing Bank, in which its applicable lending office is located, in each case, including any political subdivision of any such jurisdiction, (b) any branch profits tax or any similar tax
that is imposed by any jurisdiction described in clause (a) above, (c) other than in the case of an assignee pursuant to a request by a Loan Party under Section 2.19(b), any withholding tax imposed on any payment made to a
Non-Qualifying Lender, except to the extent that (i) a Lender or Issuing Bank becomes a Non-Qualifying Lender as a result of any Change in Law after such Lender or Issuing Bank became a party hereto or (ii) a Lender or Issuing Bank (or its
assignor, if any) was entitled, immediately prior to designation of a new lending office (or assignment), to 

  
 35 

 
receive additional amounts from a Loan Party with respect to such withholding tax pursuant to Section 2.17(a) or Section 2.17(c), (d) any withholding taxes
attributable to such Lender’s or such other recipient’s failure (other than as a result of a Change in Law) to comply with Section 2.17(e), and (e) any U.S. federal withholding Taxes imposed as a result of FATCA.

 “Existing Commitment” shall have the meaning specified in Section 2.23. 

“Existing Revolving Facility Loans” shall have the meaning specified in Section 2.23. 

“Extended Commitments” shall have the meaning specified in Section 2.23. 

“Extended Revolving Facility Loans” shall have the meaning specified in Section 2.23. 

“Extended Revolving Facility Yield Differential” shall have the meaning specified in Section 2.23.

 “Extension Agreement” shall have the meaning specified in Section 2.23. 

“Extraordinary Expenses” shall mean, all costs, expenses or advances that the Agents may incur during a Default or Event
of Default, or during the pendency of an insolvency proceeding of a Loan Party, including those relating to (a) any audit, inspection, repossession, storage, repair, appraisal, insurance, manufacture, preparation or advertising for sale, sale,
collection, or other preservation of or realization upon any Collateral; (b) any action, arbitration or other proceeding (whether instituted by or against any Agent, any Lender, any Loan Party, any representative of creditors of a Loan Party or
any other Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability of Collateral Agent’s Liens with respect to any Collateral), Loan Documents, Revolving Letters of Credit or Secured
Obligations, including any lender liability or other claims; (c) the exercise, protection or enforcement of any rights or remedies of the Agents in, or the monitoring of, any insolvency proceeding; (d) settlement or satisfaction of any
taxes, charges or Liens with respect to any Collateral; (e) any Enforcement Action; (f) negotiation and documentation of any modification, waiver, workout, restructuring or forbearance with respect to any Loan Documents or Secured
Obligations; and (g) Protective Advances. Such costs, expenses and advances include transfer fees, Other Taxes, storage fees, insurance costs, permit fees, utility reservation and standby fees, legal fees, appraisal fees, brokers’ fees and
commissions, auctioneers’ fees and commissions, accountants’ fees, environmental study fees, wages and salaries paid to employees of any Loan Party or independent contractors in liquidating any Collateral, and travel expenses. 

“Facility” shall mean the respective facility and commitments utilized in making Loans and credit extensions hereunder,
it being understood that as of the date of this Agreement there is one Facility i.e., the Revolving Facility. 

“Fair Market Value” shall mean the value that would be paid by a willing buyer to an unaffiliated willing seller in a
transaction not involving distress or necessity of either party, determined in good faith by (i) the principal financial officer or manager of Holdings or the Lead Borrower for transactions less than $25.0 million and (ii) the Board of
Directors of Holdings or the Lead Borrower (unless otherwise provided in this Agreement) for transactions valued at, or in excess of, $25.0 million. 

  
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 “FATCA” shall mean Sections 1471 through 1474 of the Code, as of the
date of this Agreement (or any amended or successor provisions thereto that are substantially comparable), including any current or future regulations promulgated thereunder or official interpretations thereof issued after the date of this Agreement
and any agreements entered into pursuant to Section 1471(b)(1) of the Code. 
 “Federal Funds Effective
Rate” shall mean, for any day, the weighted average (rounded upward, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers,
as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average (rounded upward, if necessary, to the next 1/100 of 1%) of the quotations
for the day of such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Fee Letter” shall mean that certain Fee Letter, dated August 24, 2012, by and among the Lead Borrower, the Administrative Agent and the Joint Lead Arrangers and any other fee letter
entered into between the Lead Borrower, the Administrative Agent and the Collateral Agent. 
 “Fees” shall mean
the Commitment Fees, the Revolving L/C Participation Fees, the Issuing Bank Fees and the Agent Fees. 
 “Finance
Parties” shall mean the Agents, the Lenders, any Issuing Bank and any Swingline Lender. 
 “Financial
Officer” of any Person shall mean the Chief Financial Officer, principal accounting officer, Treasurer, Assistant Treasurer or Controller of such Person. 
 “Financial Performance Covenant” shall mean the covenant of Holdings set forth in Section 7.02. 
 “Fixed Charge Coverage Ratio” shall mean with respect to any specified Person for any period, the ratio of (a) Consolidated Adjusted EBITDA for such period minus
(i) Consolidated Capital Expenditures (except such expenditures that are financed with Indebtedness for borrowed money other than Revolving Facility Loans) during such period and (ii) the aggregate amount of federal, state, local and
foreign income taxes paid or payable currently in cash for such period to (b) the Fixed Charges of such Person for such period. 
 “Fixed Charges” shall mean, with respect to any specified Person for any period, the sum, without duplication, of: 

(i) the consolidated Interest Expense of such Person and its Restricted Subsidiaries for such period less any
interest income for such period received or (without duplication) to be received currently in cash ; plus 

  
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 (ii) regularly scheduled principal payments on funded Indebtedness paid or
payable currently in cash for such period (other than payments made by the Borrowers and their Restricted Subsidiaries to the Borrowers and their Subsidiaries); plus 

(iii) the consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such
period; plus 
 (iv) all cash dividend payments or other cash distributions. 

“Flood Documentation” means, with respect to each Mortgaged Property subject to the applicable federal flood insurance
laws located in the United States or any territory thereof, (i) a completed “life-of-loan” Federal Emergency Management Agency standard flood hazard determination (together with a notice about Special Flood Hazard Area status and
flood disaster assistance duly executed by the applicable Loan Party relating thereto) and (ii) to the extent such Mortgaged Property is identified as being located in a Special Flood Hazard Area, a copy of, or a certificate as to coverage
under, and a declaration page relating to, the insurance policies required by Section 5.02 hereof and the applicable provisions of the Security Documents, each of which shall (A) be endorsed or otherwise amended to include a
“standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable), (B) name the Administrative Agent, on behalf of the Secured Parties, as additional insured and loss payee/mortgagee and
(C) identify the address or location of each property located in a Special Flood Hazard Area, the applicable flood zone designation and the flood insurance coverage and deductible relating thereto and (iv) be otherwise in form and
substance reasonably satisfactory to the Administrative Agent. 
 “Foreign Subsidiary” shall mean any
Subsidiary that is not a Domestic Subsidiary. 
 “Fronting Exposure” shall mean, a Defaulting Lender’s pro
rata share of Revolving L/C Exposure or Swingline Loans, as applicable, except to the extent allocated to other Lenders under Section 2.19. 
 “Full Payment” with respect to Secured Obligations, (a) the full and indefeasible cash payment thereof, including any interest, fees and other charges accruing during any bankruptcy,
insolvency, receivership or similar proceeding (whether or not allowed in the proceeding); and (b) if such Obligations are Revolving L/C Exposure or inchoate or contingent in nature, other than with respect to contingent indemnification
obligations not then due, Cash Collateralization thereof (or delivery of a standby letter of credit reasonably acceptable to the Administrative Agent, in the amount of required Cash Collateral). No Loans shall be deemed to have been paid in full
until all Commitments related to such Loans have expired or been terminated. 
 “GAAP” shall have the meaning
specified in Section 1.02. 
 “Governmental Authority” shall mean any federal, state, provincial,
municipal, local or foreign court, tribunal, board or governmental agency, authority, instrumentality or regulatory or legislative body. 
 “Group Member” means a member of the Company Group. 

  
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 “Guarantee” of or by any Person (the “guarantor”) shall
mean (a) any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “Primary Obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness (whether arising by virtue of partnership arrangements, by
agreement to keep well, to purchase assets, goods, securities or services, to take or pay or otherwise) or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness, (ii) to purchase or
lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity of the Primary
Obligor so as to enable the Primary Obligor to pay such Indebtedness, (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness of the payment thereof or to protect such holders against loss in respect
thereof (in whole or in part) or (v) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness, or (b) any Lien on any assets of the guarantor securing any Indebtedness (or any
existing right, contingent or otherwise, of the holder of Indebtedness to be secured by such a Lien) of any other Person, whether or not such Indebtedness is assumed by the guarantor; provided, however, that the term
“Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection
with any acquisition or disposition of assets permitted under this Agreement. 
 “Guarantor” shall mean
Holdings, each Borrower and each Wholly Owned Domestic Subsidiary of Holdings that is a Material Subsidiary and is not a Subsidiary of a Foreign Subsidiary which is or becomes party to the Loan Document Guarantee. 

“Guarantor Payment” shall have the meaning specified in Section 9.22. 

“Hazardous Materials” shall mean all pollutants, contaminants, wastes, chemicals, materials, substances and
constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas, of any nature, in each case subject to
regulation or which can give rise to liability under any Environmental Law. 
 “Hedge Agreement” shall mean one
or more of Interest Rate Agreements, Currency Agreements or Commodity Agreements. 
 “Hedging Obligations”
shall mean with respect to any specified Person, the obligations of such Person under Hedge Agreements. 

“Holdings” shall have the meaning specified in the introductory paragraph of this Agreement. 

“Immaterial Subsidiary” shall mean any Subsidiary that is not a Material Subsidiary. 

“Increased Amount Date” shall have the meaning specified in Section 2.20. 

  
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 “Incremental Facility” shall have the meaning specified in Section
2.20. 
 “Indebtedness” shall mean, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent: 
 (i) in respect of borrowed money; 

(ii) evidenced by (A) bonds, notes, debentures or similar instruments or (B) letters of credit (or reimbursement
agreements in respect thereof) provided that the underlying obligation in respect of which the letter of credit was issued would, under one or more of paragraphs (i) above or (iii) to (vii) below, be treated as being
Indebtedness; 
 (iii) in respect of banker’s acceptances; 

(iv) representing Capital Lease Obligations; 

(v) representing the balance deferred and unpaid of the purchase price of any property or services due more than six
months after such property is acquired or such services are completed; or 
 (vi) to the extent not otherwise
included in this definition, net obligations of such Person under Commodity Agreements, Currency Agreements and Interest Rate Agreements (the amount of any such obligations to be equal at any time to the termination value of such agreement or
arrangement giving rise to such obligation that would be payable by such Person at such time), 
 if and to the extent any of the preceding
items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes (i) all Indebtedness
of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person); provided, however, that the amount of such Indebtedness shall be the lesser of (x) the Fair
Market Value of such asset as such date of determination and (y) the amount of such Indebtedness of such other Person; and (ii) to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other
Person. 
 Notwithstanding the foregoing, “Indebtedness” shall not include (a) accrued expenses, royalties and
trade payables; (b) Contingent Obligations incurred in the ordinary course of business; (c) asset retirement obligations and obligations in respect of reclamation and workers’ compensation (including pensions and retiree medical care)
that are not overdue by more than 90 days; or (d) any obligations under Currency Agreements, Commodity Agreements and Interest Rate Agreements; provided that such Agreements are entered into for bona fide hedging purposes of Holdings or
its Restricted Subsidiaries (as determined in good faith by the Board of Directors or senior management of Holdings or the Lead Borrower, whether or not accounted for as a hedge in accordance with GAAP) and, in the case of Currency Agreements or
Commodity Agreements, such Currency Agreements or Commodity Agreements are related to business transactions of Holdings or its Restricted Subsidiaries entered into in the ordinary course of business and, in the case of Interest Rate Agreements, such
Interest Rate Agreements substantially correspond in terms of notional amount, duration and interest rates, as applicable, to Indebtedness of Holdings or its Restricted Subsidiaries Incurred without violation of this Agreement. 

  
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 “Indemnified Taxes” shall mean all Taxes, which arise from the transactions
contemplated in this Agreement, other than Excluded Taxes. 
 “Indemnitee” shall have the meaning specified in
Section 9.05(b). 
 “Initial Lenders” shall mean the banks, financial institutions and other
institutional lenders listed on the signature pages hereof as the Initial Lenders. 
 “Intellectual Property”
shall mean, all intellectual and similar Property of a Person, including inventions, designs, patents, copyrights, trademarks, service marks, trade names, trade secrets, confidential or proprietary information, customer lists, know-how, software and
databases; all embodiments or fixations thereof and all related documentation, applications, registrations and franchises; all licenses or other rights to use any of the foregoing; and all books and records relating to the foregoing. 

“Intercreditor Agreement” shall mean the Intercreditor Agreement, dated the date hereof, by and among the Loan Parties,
the Administrative Agent, the Collateral Agent, the Notes Trustee and any other agent or secured party that may be party thereto from time to time. 
 “Interest Election Request” shall mean an Interest Election Request to be provided by the Lead Borrower to request a conversion or continuation of any Revolving Facility Loans as LIBOR
Loans, in form satisfactory to the Administrative Agent. 
 “Interest Expense” shall mean, with respect to any
Person for any period, the sum of (a) gross interest expense of such Person for such period on a consolidated basis, including (i) the amortization of debt discounts, (ii) the amortization of all fees (including fees with respect to
Hedge Agreements) payable in connection with the incurrence of Indebtedness to the extent included in interest expense, other than fees and breakage costs incurred in connection with the repayment of the Existing Credit Facilities, (iii) the
portion of any payments or accruals with respect to Capital Lease Obligations allocable to interest expense, and (iv) redeemable preferred stock dividend expenses, and (b) capitalized interest of such Person. For purposes of the foregoing,
gross interest expense shall be determined after giving effect to any net payments made or received and costs incurred by Holdings, a Borrower and its Restricted Subsidiaries with respect to Hedge Agreements. 

“Interest Payment Date” shall mean (a) with respect to any LIBOR, the last day of the Interest Period applicable to
the Borrowing of which such Loan is a part and, in the case of a LIBOR Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three
months’ duration been applicable to such Borrowing and (b) with respect to any ABR Loan, the first day of April, July, October and January of each year. 
 “Interest Period” shall mean, as to any Borrowing consisting of a LIBOR Loan, the period commencing on the date of such Borrowing or on the last day of the immediately preceding Interest
Period applicable to such Borrowing, as applicable, and ending on the 

  
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numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months thereafter (or 9 or 12 months or shorter, if at
the time of the relevant Borrowing, all Lenders make interest periods of such length available), as the Lead Borrower may elect, or the date on which any LIBOR Borrowing is repaid or prepaid in accordance with Sections 2.09, 2.10 or
2.11; provided that, if any Interest Period for a LIBOR Loan would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall
in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period.

 “Interest Rate Agreement” shall mean with respect to any Person any interest rate protection agreement,
interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such
Person is party or a beneficiary. 
 “Inventory” means, inclusively, all inventory as defined in the UCC from
time to time and all goods, merchandise and other personal property wherever located, now owned or hereafter acquired by Borrowers or any of their Subsidiaries of every kind or description which are held for sale or lease or are furnished or to be
furnished under a contract of service or are raw materials, work-in-process or materials used or consumed or to be used or consumed in Borrowers’ or any of their Subsidiaries’ business. 

“Inventory Reserve” shall mean reserves established by the Administrative Agent to reflect factors that may negatively
impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks. 

“Investment Grade Securities” shall mean: 
 (1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality thereof (other than Cash Equivalents) and in each case with maturities not
exceeding two years from the date of acquisition; 
 (2) investments in any fund that invests exclusively in investments of the
type described in clause (1) which fund may also hold immaterial amounts of cash pending investment and/or distribution; and 
 (3) corresponding instruments in countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of
acquisition. 
 “Investments” shall mean with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and
similar advances to officers, employees and consultants made in the ordinary course of business), purchases or 

  
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other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in
accordance with GAAP. 
 “Issuing Bank” shall mean Bank of America, N.A. and each other Issuing Bank designated
pursuant to Section 2.05(e), in each case in its capacity as an issuer of Revolving Letters of Credit hereunder. 

“Issuing Bank Fees” shall have the meaning specified in Section 2.12(d). 

“Issuing Bank Indemnitees” shall mean Issuing Bank and its officers, directors, employees, Affiliates, agents and
attorneys 
 “Jefferies Finance” shall have the meaning specified in the introductory paragraph of this
Agreement. 
 “Joint Lead Arrangers” shall have the meaning specified in the introductory paragraph of this
Agreement. 
 “Junior Lien Indebtedness” shall mean Indebtedness which is permitted to be secured by the
Collateral on a junior basis to the Liens granted to the Collateral Agent pursuant to the Security Documents and is subject to the terms of the Junior Lien Intercreditor Agreement. 

“Junior Lien Intercreditor Agreement” shall mean an intercreditor agreement in form and substance reasonably
satisfactory to the Administrative Agent and the Lead Borrower providing that the Junior Lien Indebtedness is secured by the Collateral on a third lien and on a silent subordinated basis to the Secured Obligations and the obligations under and in
respect of the Senior Notes. 
 “Last Cure Date” shall have the meaning specified in
Section 7.02(a). 
 “LC Application” an application by the Lead Borrower to an Issuing Bank for
issuance of a Revolving Letter of Credit, in form and substance reasonably satisfactory to such Issuing Bank. 
 “LC
Conditions” shall mean the following conditions necessary for issuance of a Revolving Letter of Credit: (a) each of the conditions set forth in Section 4.01; (b) after giving effect to such issuance, Revolving L/C Exposure
does not exceed the Revolving L/C Commitments and no Overadvance exists; (c) the expiration date of such Revolving Letter of Credit is no more than 365 days from issuance, in the case of standby Revolving Letters of Credit, and (ii) no
more than 120 days from issuance (or such longer period as the Issuing Bank may agree) and (d) the Revolving Letter of Credit and payments thereunder are denominated in U.S. Dollars. 

“LC Documents” all documents, instruments and agreements (including LC Requests and LC Applications) delivered by
Borrowers or any other Person to Issuing Bank or the Administrative Agent in connection with any Revolving Letter of Credit. 

  
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 “LC Request” a request for issuance of a Revolving Letter of Credit, to be
provided by Lead Borrower to Issuing Bank, in form reasonably satisfactory to the Administrative Agent and Issuing Bank. 

“Lead Borrower” shall mean, (a) prior to the Acquisition Closing Date, the Merger Sub and (b) from and after
the Acquisition Closing Date, the Target; provided that after a Qualifying MLP IPO, the term “Lead Borrower” shall refer to the MLP and, in each case, not to any of its respective Subsidiaries. 

“Lender” shall mean each financial institution listed on Schedule 2.01 (and any foreign branch of such Lender),
as well as any Person that becomes a “Lender” hereunder pursuant to Section 9.04 (and any foreign branch of such Person). 
 “Lender Default” shall mean (a) the refusal (which has not been retracted) of a Lender to make available as required its portion of any Borrowing, to acquire participations in a
Swingline Loan pursuant to Section 2.04 or to fund its portion of any unreimbursed payment under Section 2.05, (b) a Lender having notified Holdings and/or the Administrative Agent in writing that it does not intend to
comply with its obligations under 2.04, 2.05 or 2.06, or (c) a Lender has (i) been (or has a parent company that has been) adjudicated as, or determined by any Governmental Authority having regulatory authority over
such Person or its assets to be, insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, receiver-manager, administrative receiver, trustee, administrator, assignee for the benefit of
creditors, liquidator, liquidation custodian, sequestrator or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval
of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors
or similar Person charged with reorganization or liquidation of its business or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment,
unless in the case of any Lender referred to in this clause (c) the Borrowers, the Administrative Agent, the Swingline Lender and each Issuing Bank shall be satisfied that such Lender intends, and has all approvals required to enable it, to
continue to perform its obligations as a Lender hereunder; unless, in the case of clauses (a) and (b) above, such Lender has notified the Administrative Agent in writing that such failure is the result of such Lender’s reasonable
determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied. For the avoidance of doubt, a Lender Default shall not be deemed to exist solely by virtue of the
ownership or acquisition of any Equity Interest in any Lender or its parent by a Governmental Authority. 
 “LIBOR
Borrowing” shall mean a Borrowing by a Borrower under the Revolving Facility comprised of LIBOR Loans to such Borrower. 
 “LIBOR Loan” shall mean the Revolving Facility Loan denominated in U.S. Dollars that bears interest at a rate determined by reference to the LIBOR Rate in accordance with the provisions
of Article II. 

  
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 “LIBOR Rate” shall mean, for any Interest Period for LIBOR Loans, the
British Bankers Association Interest Settlement Rate displayed on the appropriate page of the Reuters screen for the relevant currency two Business Days prior to the commencement of such Interest Period, or, if for any reason such rate is not
available, the rate at which the relevant currency deposits for a maturity comparable to such Interest Period are offered by the principal office of the applicable Administrative Agent in same day funds to first-class banks in the London interbank
market at approximately 10:00 a.m., London time two Business Days prior to the commencement of such Interest Period. 

“Licensor” shall mean, any Person from whom a Loan Party obtains the right to use any Intellectual Property. 

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

“Lien Waiver” shall mean, an agreement, in form and substance reasonably satisfactory to the Administrative Agent, by
which (a) for any leased premises where Revolving Facility Priority Collateral with a Value in excess of $250,000 is located, the lessor waives or subordinates any Lien it may have on the Revolving Facility Priority Collateral, and agrees to
permit the Administrative Agent to enter upon the premises and remove the Collateral or to use the premises to store or dispose of the Revolving Facility Priority Collateral; (b) for any portion of Revolving Facility Priority Collateral with a
Value in excess of $250,000 held by a warehouseman, processor, shipper, customs broker or freight forwarder, such Person waives or subordinates any Lien it may have on the Revolving Facility Priority Collateral, agrees to hold any Documents in its
possession relating to the Revolving Facility Priority Collateral as agent for the Administrative Agent, and agrees to deliver the Revolving Facility Priority Collateral to the Administrative Agent upon request; and (c) for any portion of
Revolving Facility Priority Collateral with a Value in excess of $250,000 held by a repairman, mechanic or bailee, such Person acknowledges the Administrative Agent’s Lien, waives or subordinates any Lien it may have on the Revolving Facility
Priority Collateral, and agrees to deliver the Collateral to Agent upon request. 
 “Liquidity Event” shall
mean any time during which Excess Availability is less than the greater of (a) 12.5% of Availability and (b) $25.0 million. 
 “Loan Account” shall have the meaning specified in Section 2.26(a). 
 “Loan Documents” shall mean this Agreement, the Letters of Credit, the Intercreditor Agreement, any Junior Lien Intercreditor Agreement, the Collateral Agent and Administrative Agent
Appointment Deed, the Security Documents, the Loan Document Guarantee and any promissory note issued under Section 2.09(f). 

  
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 “Loan Document Guarantee” shall mean the Guarantee, dated as of the date of
this Agreement, entered into by the Loan Parties in favor of the Administrative Agent. 
 “Loan Parties” shall
mean Holdings, the Borrowers and each Subsidiary Loan Party. 
 “Loans” shall mean, in respect of a Borrower,
any loans made under this Agreement (including the Revolving Facility Loans and the Swingline Loans and any Loans under the New Commitments) made to such Borrower. 
 “Majority Lenders” of any Facility shall mean, at any time, Lenders under such Facility having Loans (and, in the case of the Revolving Facility, Revolving L/C Exposure) and unused
Commitments representing more than 50% of the sum of all Loans (and, in the case of the Revolving Facility, the Revolving L/C Exposure) outstanding under such Facility and unused Commitments under such Facility at such time. The Loans and
Commitments of any Defaulting Lender shall be disregarded in determining Majority Lenders at any time. 
 “Management
Group” shall mean the group consisting of the directors, executive officers and other management personnel of the Borrower, or any of its Subsidiaries, as the case may be, on the Closing Date together with (1) any new directors whose
election by such boards of directors or whose nomination for election by the shareholders of the Borrower or any of its Subsidiaries, as the case may be, was approved by a vote of a majority of the directors of the Borrower or any of its
Subsidiaries, as the case may be, then still in office who were either directors on the Closing Date or whose election or nomination was previously so approved and (2) executive officers and other management personnel of the Borrower or any of
its Subsidiaries, as the case may be hired at a time when the directors on the Closing Date together with the directors so approved constituted a majority of the directors of the Borrower or any of its Subsidiaries, as the case may be. 

“Margin Stock” shall have the meaning specified in Regulation U. 

“Marketable Securities” shall mean with respect to any Asset Sale, any readily marketable equity securities that are
(i) traded on the New York Stock Exchange, the American Stock Exchange or the Nasdaq National Market; and (ii) issued by a corporation having a total equity market capitalization of not less than $250.0 million; provided that the
excess of (A) the aggregate amount of securities of any one such corporation held by Holdings and any Restricted Subsidiary over (B) ten times the average daily trading volume of such securities during the 20 immediately preceding trading
days shall be deemed not to be Marketable Securities, as determined on the date of the contract relating to such Asset Sale. 

“Material Adverse Effect” shall mean the existence of events, conditions and/or contingencies that have had or are
reasonably likely to have (i) a materially adverse effect on the business, operations, properties, assets or financial condition of the Holdings and its Subsidiaries, taken as a whole, or (ii) a material impairment of the validity or
enforceability of, or a material impairment of the material rights, remedies or benefits available to the Lenders, any Issuing Bank, the Administrative Agent or the Collateral Agent under, any Loan Document. 

“Material Indebtedness” shall mean Indebtedness (other than Loans and Letters of Credit) of any Loan Party in an
aggregate principal amount exceeding $25.0 million. 

  
 46 

 “Material Subsidiary” shall mean any Subsidiary of the Lead Borrower whose
gross assets or earnings before interest, tax, depreciation or amortization on a consolidated basis (calculated on a basis consistent with the calculations used in preparing the Lead Borrower’s consolidated financial statements) (excluding
intra-group items) are equal to or exceed 5% of the Total Assets or Consolidated Adjusted EBITDA of the Lead Borrower and its Restricted Subsidiaries; provided that any Subsidiary shall be deemed a Material Subsidiary if either (a) the
Total Assets of such Subsidiary would cause the Total Assets of all Subsidiaries which are not Material Subsidiaries to exceed 10% of the Total Assets or (b) the Consolidated Adjusted EBITDA of such Subsidiary would cause the Consolidated
Adjusted EBITDA of all Subsidiaries which are not Material Subsidiaries to exceed 10% of the Consolidated Adjusted EBITDA. 

“Maturity Date” shall mean the date that is five years after the Closing Date (or if such date is not a Business Day,
the next succeeding Business Day, unless such Business Day is in the next calendar month, in which case the next preceding Business Day) (or any maturity date related to any Extended Revolving Facility Loans). 

“Maximum Incremental Amount” shall have the meaning specified in Section 2.20(a). 

“Maximum Rate” shall have the meaning specified in Section 9.09. 

“Merger Agreement” shall have the meaning specified in the recitals hereto. 

“Merger Sub” shall have the meaning specified in the introductory paragraph of this Agreement. 

“MLP” means an entity formed to acquire, directly or indirectly, substantially all of the Equity Interests of the Lead
Borrower, in order to undertake an initial public offering of its assets and/or Capital Stock and that, immediately following consummation of such offering, will be treated as a partnership for U.S. federal income tax purposes. 

“MLP Drop-Down” means any contribution of assets by a Group Member to an MLP Subsidiary if such contribution is made to
increase the long-term operating capacity or net income of the Company Group from the long-term operating capacity or net income of the Company Group existing immediately prior to such contribution. 

“MLP Formation Transactions” means (i) the legal formation of the MLP, (ii) the acquisition, directly or
indirectly, of the Lead Borrower by the MLP, (iii) the borrowing of an amount not to exceed the anticipated gross proceeds of a Qualifying MLP IPO and the distribution of that amount to the Equity Investors immediately prior to such Qualifying
MLP IPO, (iv) transactions related to a Qualifying MLP IPO and (v) transactions reasonably related thereto. 

“MLP Subsidiary” means, with respect to any Person (a) a corporation of which more than 50% of the voting power of
shares are entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more
MLP Subsidiaries (as defined, but excluding subsection (d) of this definition) of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or an

  
 47 

 
MLP Subsidiary (as defined, but excluding subsection (d) of this definition) of such Person is, at the date of determination, a general or limited partner of such partnership, but only if
more than 50% of the partnership interests of such partnership (considering all of the partnership interests of the partnership as a single class) is owned, directly or indirectly, at the date of determination, by such Person, by one or more MLP
Subsidiaries (as defined, but excluding subsection (d) of this definition) of such Person, or a combination thereof, (c) any other Person (other than a corporation or a partnership) in which such Person, one or more MLP Subsidiaries (as
defined, but excluding subsection (d) of this definition) of such Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) at least a majority ownership interests or (ii) the power to elect or
direct the election of a majority of the directors or other governing body of such Person or (d) any other Person in which such Person, one or more MLP Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date
of determination, has (i) less than a majority ownership interest or (ii) less than the power to elect or direct the election of a majority of the directors or other governing body of such Person, provided that (A) such Person,
one or more MLP Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date of the determination, has at least a 20% ownership interest in such other Person, (B) such Person accounts for such other Person (under
GAAP, as in effect on the later of the date of investment in such other Person or material expansion of the operations of such other Person) on a consolidated or equity accounting basis, (C) such Person has directly or indirectly material
negative control rights regarding such other Person including over such other Person’s ability to materially expand its operations beyond that contemplated at the date of investment in such other Person, and (D) such other Person is
obligated under its constituent documents, or as a result of a unanimous agreement of its owners, to distribute to its owners all of its available cash on at least an annual basis (less any cash reserves that are approved by such Person).

 “Moody’s” shall mean Moody’s Investors Service, Inc. 

“Morgan Stanley” shall have the meaning specified in the introductory paragraph of this Agreement. 

“Mortgaged Properties” shall mean the owned properties listed on Schedule 5.10 to be encumbered by a Mortgage
pursuant to Section 5.10. 
 “Mortgage” shall have the meaning assigned to such term in
Section 5.10. 
 “MTBE” shall mean methyl tertiary butyl ether. 

“MTBE Assets” means the assets of the Lead Borrower and its Subsidiaries consisting of (a) two dehydrogenation
units and the MTBE processing unit associated therewith, all situated on real property in Houston, Harris County, Texas, (b) the MTBE processing units situated on real property in Port Neches, Jefferson County, Texas, (c) the related
structures, fixtures, buildings, equipment, easements, pipelines, piping, vehicles, rolling stock, trailers, MTBE product inventory and other tangible personal property reasonably related to such dehydrogenation or MTBE processing units and the
manufacture, purchase, sale or transportation of MTBE and (d) the Capital Stock in any Permitted MBTE Joint Venture, but excluding cash and Cash Equivalents and excluding any Capital Stock in an MTBE Subsidiary. 

  
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 “MTBE Subsidiaries” means (x) Port Neches Fuels, LLC, a Delaware
limited liability company and (y) any other Subsidiary of the Lead Borrower that owns MTBE Assets, in each case so long as such Person owns no material assets other than MTBE Assets. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA subject to the
provisions of Title IV of ERISA and in respect of which any Borrower, any Subsidiary of a Borrower or any ERISA Affiliate is an “employer” as defined in Section 3(5) of ERISA. 

“Net Income” shall mean, with respect to any Person for any period, the net income (loss) of such Person for such
period, determined in accordance with GAAP and before any reduction in respect of dividends on preferred interests, excluding, however, (a) any gain or loss, together with any related provision for taxes on such gain or loss, realized in
connection with (1) any Asset Sale (including, without limitation, dispositions pursuant to sale and leaseback transactions) or (2) the disposition of any securities by such Person or any of its Subsidiaries or the extinguishment of any
Indebtedness of such Person or any of its Subsidiaries and (b) any extraordinary or nonrecurring gain or loss, together with any related provision for taxes on such extraordinary or nonrecurring gain or loss. 

“Net Orderly Liquidation Value” shall mean (a) the “net orderly liquidation value”
determined by a valuation company reasonably acceptable to the Administrative Agent after performance of an Inventory valuation to be done at the Administrative Agent’s request and the Borrowers’ expense, less the amount estimated by
such valuation company for marshalling, reconditioning, carrying, and sales expenses designed to maximize the resale value of such Inventory and assuming that the time required to dispose of such Inventory is customary with respect to such
Inventory; or (b) if no such Inventory valuation has been requested by the Administrative Agent, the value customarily attributed to Inventory in the appraisal industry for Inventory of similar quality and quantity, and similarly dispersed
(under similar and relevant circumstances under standard asset-based lending procedures), at the time of the valuation, less the amount customarily estimated in the appraisal industry at the time of any determination for marshalling, recondition,
carrying, and sales expenses designed to maximize the resale value of such Inventory and assuming that the time required to dispose of such Inventory is customary with respect to such Inventory. 

“Net Proceeds” shall mean the aggregate cash proceeds received by Holdings or any of its Restricted Subsidiaries in
respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal
pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets or other consideration received in any non-cash form), net
of the direct costs relating to such Asset Sale and the sale of such Designated Non-cash Consideration, including, without limitation, legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a
result of the Asset Sale, taxes paid or payable as a result of the Asset Sale, in each case, after taking into account any available tax credits or deductions and any tax sharing arrangements, and amounts required to be applied to the repayment of
Indebtedness 

  
 49 

 
secured by a Lien on the asset or assets that were the subject of such Asset Sale, all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint
ventures or to holders of royalty or similar interests as a result of such Asset Sale and any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP, including without limitation, pension and
post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 
 “New Revolving Facility Commitments” shall have the meaning specified in Section 2.20. 
 “New Revolving Facility Lender” shall have the meaning specified in Section 2.20. 
 “Non-Consenting Lender” shall have the meaning specified in Section 2.19(c). 
 “Non-Recourse Debt” shall mean Indebtedness: 
 (i)
as to which neither Holdings nor any of its Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness) other than a pledge of the Equity Interests of
any Unrestricted Subsidiaries, (b) is directly or indirectly liable (as a guarantor or otherwise) other than by virtue of a pledge of the Equity Interests of any Unrestricted Subsidiaries, or (c) constitutes the lender; and 

(ii) no default with respect to which (including any rights that the holders of the Indebtedness may have to take
enforcement action against an Unrestricted Subsidiary) would permit, upon notice, lapse of time or both, any holder of any other Indebtedness (other than the notes offered hereby) of Holdings or any of its Restricted Subsidiaries to declare a
default on such other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity. 
 “Non-Qualifying Lender” shall mean any Lender or Issuing Bank that is not a Qualifying Lender. 
 “Non-U.S. Lender” shall mean any Lender or Issuing Bank that is not a United States person within the meaning of Section 7701(a)(30) of the Code. 

“Note Guarantee” shall mean the Guarantee by each Note Guarantor of the Lead Borrower’s obligations under the
Senior Notes. 
 “Note Guarantor” shall mean each of the Lead Borrower’s Subsidiaries that provides a Note
Guarantee. 
 “Notes Priority Collateral” shall have the meaning assigned to it in the Intercreditor Agreement.

 “Notes Trustee” shall mean Wells Fargo Bank, National Association, as trustee for the holders of the Senior
Notes pursuant to the Senior Notes Indenture, and any successor thereto. 

  
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 “Noticed Hedge” shall mean Secured Bank Product Obligations arising under a
Hedge Agreement, in the case of any Secured Bank Product Provider (other than Bank of America and its Affiliates so long as Bank of America is the Administrative Agent) reasonably specified by such provider in writing to the Administrative Agent,
which amount may be established or increased (by further written notice to the Administrative Agent from time to time) as long as no Event of Default exists and no Overadvance would result from establishment of a Bank Product Reserve for such amount
and all other Secured Bank Product Obligations. 
 “Obligations” shall mean for purposes of the Loan Documents,
all obligations of every nature of each Loan Party from time to time owed to the Agents (including former Agents) or the Lenders, under any Loan Document, whether for principal, interest (including interest which, but for the filing of a petition in
bankruptcy with respect to such Loan Party, would have accrued on any such Obligation, whether or not a claim is allowed against such Loan Party for such interest in the related bankruptcy proceeding), Revolving L/C Exposure, fees, expenses,
indemnification or otherwise. For the avoidance of doubt, Revolver Facility Loans made pursuant to any Incremental Facility incurred under Section 2.20 shall constitute Obligations. 

“Officer” shall mean, with respect to any Person, the Chairman of the Board, any Manager, the Chief Executive Officer,
the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller or the Secretary, Assistant Secretary or any Vice President of such Person. 

“Officers’ Certificate” shall mean a certificate signed on behalf of Holdings and its Restricted Subsidiaries by an
Officer duly appointed for such purpose. 
 “Other Debt Covenant Charges” shall mean, with respect to the Lead
Borrower and its Restricted Subsidiaries for any period, the sum, without duplication, of: (i) the consolidated interest expense of the Lead Borrower and its Restricted Subsidiaries for such period, whether paid or accrued, excluding
amortization of deferred financing fees, debt issuance costs and commissions, fees and expenses and the expensing of any bridge, commitment or other financing fees, commissions, discounts, yield and other fees and charges (including any interest
expense) related to any receivables facility but including original issue discount, non-cash interest payments, the interest component of any deferred payment obligations (classified as Indebtedness under the indenture), the interest component of
all payments associated with Capital Lease Obligations and net of the effect of all payments made or received pursuant to Hedging Obligations in respect of interest rates; plus (ii) the consolidated interest expense of the Lead Borrower
and its Restricted Subsidiaries that was capitalized during such period; provided that for purposes of calculating consolidated interest expense, no effect shall be given to the discount and/or premium resulting from the bifurcation of
derivatives under Standards Codification No. 815—Derivatives and Hedging (formerly SFAS 133) and related interpretations as a result of the terms of the Indebtedness to which such consolidated interest expense relate; plus
(iii) all cash dividend payment or other cash distributions on any series of preferred equity of the Lead Borrower and all other dividend payments or other distributions on the Disqualified Stock of the Lead Borrower; less
(iv) interest income; less (v) non-cash interest expense attributable to movement in mark to market valuation of Hedging Obligations or other derivatives under GAAP; less (vi) accretion or accrual of discounted
liabilities not constituting Indebtedness; and less (vii) any expense resulting from the discounting of Indebtedness in connection with the application of purchase accounting in connection with any acquisition. 

  
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 “Other Debt Covenant EBITDA” shall mean, with respect to the Lead Borrower
and its Restricted Subsidiaries for any period, the Consolidated Net Income of the Lead Borrower and its Restricted Subsidiaries for such period (A) plus, without duplication to the extent the same was deducted in calculating
Consolidated Net Income: (i) provision for taxes based on income, profits or capital, including without limitation provincial, state, franchise, local, foreign and similar taxes, of the Lead Borrower and its Restricted Subsidiaries, to the
extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus (ii) the Other Debt Covenant Charges of the Lead Borrower and its Restricted Subsidiaries for such period (including net losses on Hedging
Obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, to the extent included in Other Debt Covenant Charges), to the extent that such Other Debt Covenant Charges were deducted in computing such
Consolidated Net Income; plus (iii) depreciation, amortization (including the amortization of turnaround costs, goodwill and other intangibles, deferred financing fees and any amortization included in pension, OPEB or other employee
benefit expenses, but excluding amortization of prepaid cash expenses that were paid in a prior period) and other non-cash expenses (including without limitation write-downs and impairment of property, plant, equipment and intangibles and other
long-lived assets (including pursuant to the application of ASC 350 and ASC 360 (formerly Financial Accounting Standards Board Statement Nos. 142 and 144, respectively)) and the impact of purchase accounting, but excluding any such non-cash expense
to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash expense that was paid in a prior period) of the Lead Borrower and its Restricted Subsidiaries for such period to the
extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated Net Income; plus (iv) the amount of any restructuring charges (which, for the avoidance of doubt, shall include
retention, severance, integration, business optimization, systems establishment cost or excess pension, OPEB, curtailment or other excess charges); plus (v) the minority expense relating to any partner in a joint venture which is
consolidated with the Lead Borrower for accounting purposes and the minority interest expense consisting of subsidiary income attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary in such period or any prior
period, except to the extent of dividends declared or paid on Equity Interests held by third parties; plus (vi) the amount of management, consulting, monitoring and advisory fees and related expenses paid to the Equity Investors or any
other Permitted Holder (or any accruals related to such fees and related expenses) during such period; provided that such amount shall not exceed in any four quarter period the greater of (x) $2.5 million and (y) 1.0% of Other Debt
Covenant EBITDA of the Lead Borrower and its Restricted Subsidiaries for such period; plus (vii) accretion of asset retirement obligations in accordance with SFAS No. 143, Accounting for Asset Retirement Obligations, and any similar
accounting in prior periods; plus (viii) to the extent not otherwise included, the proceeds of any business interruption insurance received during such period; plus (ix) any adjustments that result from timing differences
between the purchase of crude C4 in one period and the sale of finished butadiene in a later period, caused by monthly butadiene price changes, to the extent such adjustments are calculated in a manner consistent with the calculation of such
adjustments as presented in the offering memorandum dated December 11, 2012 for the Senior Notes; plus (x) any adjustments related to any impact from supplier plant shut downs, other than in the ordinary course of business;
minus (B) (i) non-cash items increasing such 

  
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Consolidated Net Income for such period, other than (x) any items which represent the reversal of any accrual of, or cash reserve for, anticipated charges in any prior period where such
accrual or reserve is no longer required and (y) any items which represent the impact of purchase accounting; and (i) the minority interest income consisting of subsidiary losses attributable to the minority equity interests of third
parties in any non-Wholly Owned Restricted Subsidiary. 
 “Other Debt Covenant Ratio” means with respect to any
specified Person for any period, the ratio of the Other Debt Covenant EBITDA of such Person for such period to the Other Debt Covenant Charges of such Person for such period. In the event that the specified Person or any of its Restricted
Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than (i) ordinary working capital borrowings and (ii) in the case of revolving credit borrowings or revolving
advances under any other wise permitted receivables financing, in which case interest expense will be computed based upon the average daily balance of such Indebtedness during the applicable period) or issues, repurchases or redeems preferred equity
subsequent to the commencement of the period for which the Other Debt Covenant Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Other Debt Covenant Ratio is made (the “Calculation
Date”), then the Other Debt Covenant Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase
or redemption of preferred equity, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Other Debt Covenant Ratio, Asset
Acquisitions, dispositions, mergers, consolidations and discontinued operations (as determined in accordance with GAAP), and any related financing transactions, that the specified Person or any of its Restricted Subsidiaries has both determined to
make and made after the Closing Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall be calculated on a pro forma basis assuming that all such
Asset Acquisitions, dispositions, mergers, consolidations and discontinued operations (and the change of any associated Other Debt Covenant Charges and the change in Other Debt Covenant EBITDA resulting therefrom) had occurred on the first day of
the four-quarter reference period, including any pro forma expense and cost reductions and other operating improvements that have occurred or are reasonably expected to occur, in the reasonable judgment of the chief financial officer of the Lead
Borrower (regardless of whether these cost savings or operating improvements could then be reflected in pro forma financial statements in accordance with Regulation S-X promulgated under the Securities Act or any other regulation or policy of the
SEC related thereto). Any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary at all times during such four-quarter period, and if, since the beginning of the four-quarter reference
period, any Person that subsequently became a Restricted Subsidiary or was merged with or into the Lead Borrower any of its other Restricted Subsidiaries since the beginning of such period shall have made any acquisition, Investment, disposition,
merger, consolidation or discontinued operation, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Other Debt Covenant Ratio shall be adjusted giving pro forma
effect thereto for such period as if such Asset Acquisition, disposition, discontinued operation, merger or consolidation had occurred at the beginning of the applicable four-quarter reference period. Any Person that is not a Restricted Subsidiary
on the Calculation Date will be deemed not to have been a Restricted 

  
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Subsidiary at any time during such four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any transaction, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Lead Borrower. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in
effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a
Capital Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Lead Borrower to be the rate of interest implicit in such Capital Lease Obligation. For purposes of
making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period.
Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a Eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen,
or, if none, then based upon such optional rate chosen as the Lead Borrower may designate. Any such pro forma calculation may include adjustments appropriate, in the reasonable determination of the Lead Borrower as set forth in an Officer’s
Certificate, to reflect operating expense reductions reasonably expected to result from any acquisition or merger. 

“Other Payment Conditions” means (a) there is no Default or Event of Default existing immediately before or after
such transaction, (b) each of (x) 30 Day Excess Availability and (y) Excess Availability on the date of the proposed transaction (in each case, calculated on a pro forma basis for such transaction, including any Restricted Payment,
Unrestricted Subsidiary designation or redesignation and/or draw under the Revolving Facility) is equal to or greater than the greater of (x) $37.5 million and (y) 17.5% of Availability, (c) the Fixed Charge Coverage Ratio is at least
1.00 to 1.00; provided that if each of (x) pro forma 30 Day Excess Availability and (y) pro forma Excess Availability (in each case, calculated on a pro forma basis for such Restricted Payment and/or draw under the Revolving
Facility) is greater than 22.5% of Availability at such time clause (c) shall not apply and (d) the Lead Borrower shall have delivered a customary officer’s certificate to the Administrative Agent certifying as to compliance with the
requirements of clauses (a) through (c) (if applicable). 
 “Other Taxes” shall mean any and all
present or future stamp or documentary taxes or any other excise or property, intangible or mortgage recording taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise
with respect to, the Loan Documents. 
 “Overadvance” shall have the meaning specified in
Section 2.25. 
 “Overadvance Loan” shall mean a ABR Loan made when an Overadvance exists or is
caused by the funding thereof. 
 “Parent Company” shall have the meaning specified in clause (a) of the
definition of “Change in Control” in this Section 1.01. 
 “Participant” shall have the
meaning specified in Section 9.04(c). 

  
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 “Participant Register” shall have the meaning specified in
Section 9.04(c). 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and
defined in ERISA. 
 “Permitted Business” shall mean the businesses of Holdings and its Subsidiaries engaged in
on the Closing Date and any other activities that are similar, ancillary or reasonably related to, or a reasonable extension, expansion or development of, such businesses or ancillary thereto. 

“Permitted Cure Securities” shall mean (A)(i) a common equity security of Holdings or, if the proceeds of such
security are contributed to Holdings, a Parent Company or (ii) any other equity security of Holdings or, if the proceeds of such security are contributed to Holdings, a Parent Company, having no mandatory redemption, repurchase or similar
requirements prior to 91 days after the Maturity Date, and upon which all dividends or distributions (if any) shall be payable solely in additional shares of such equity security and (B) any Indebtedness issued or incurred by Holdings that
(a) is unsecured, (b) is expressly subordinated to the prior payment in full in cash of the Obligations under the Loan Documents of Holdings on terms reasonably satisfactory to the Agent, (c) has a maturity date no earlier than, and
provides for no scheduled payments of principal or mandatory redemption obligations prior to, 91 days after the Maturity Date, and (d) provides for payments of interest solely in-kind prior to the date that is 91 days after the Maturity Date.

 “Permitted Discretion” means a determination made in good faith and in the exercise of reasonable (from the
perspective of a secured asset-based lender) business judgment. 
 “Permitted Employee Stock Purchase Loans”
shall mean loans, in an aggregate amount outstanding at any time not to exceed U.S. $25.0 million, whether made by Holdings or any third party (other than any Affiliate of Holdings), to employees of Holdings and its Subsidiaries who become
participants in Holdings’ stock purchase program to enable such employees to purchase Equity Interests in Holdings or any of its parent entities. 
 “Permitted Holder” shall mean each of (i) the Sponsor and the Sponsor Affiliates and (ii) with respect to not more than 30% of direct or indirect the total voting power of the
Equity Interests of Holdings, the Management Group. 
 “Permitted Investments” shall mean: 

(i) any Investment in Holdings or in a Restricted Subsidiary of Holdings; provided that neither Holdings nor any
Restricted Subsidiary shall transfer any Collateral to any Person under this clause (i) that is not a Loan Party unless the Other Payment Conditions are satisfied on a pro forma basis both before and after giving effect to such Investments;

 (ii) any Investment in cash, Cash Equivalents, Marketable Securities or Investment Grade Securities;

  
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 (iii) any Investment by Holdings or any Restricted Subsidiary in a Person,
if as a result of such Investment: 
 (A) such Person becomes a Restricted Subsidiary of Holdings; or 

(B) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or
into, or transfers or conveys substantially all of its assets to, or is liquidated into, Holdings or a Restricted Subsidiary of Holdings; 

and, in each case, any Investment held by any such Person; provided that neither Holdings nor any Restricted Subsidiary shall transfer any
Collateral to any Person that is not a Loan Party unless the Other Payment Conditions are satisfied on a pro forma basis both before and after giving effect to such Investments; 

(iv) any Investment made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant
to and in compliance with Section 6.03; 
 (v) any acquisition of assets or Capital Stock solely in
exchange for the issuance of Equity Interests (other than Disqualified Stock) of Holdings or a direct or indirect parent company of Holdings; 
 (vi) any Investments received (i) in compromise or resolution of (A) obligations of trade creditors or customers that were incurred in the ordinary course of business of Holdings or any of its
Restricted Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer; or (B) litigation, arbitration or other disputes; or (ii) as a result of
a foreclosure by Holdings or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(vii) Investments represented by Hedging Obligations in compliance with Section 6.02(b)(vii); 

(viii) loans or advances to officers, directors and employees made in the ordinary course of business or consistent with
the past practice of Holdings or any Restricted Subsidiary of Holdings and Permitted Employee Stock Purchase Loans or guarantees thereof; 
 (ix) repurchases of the Senior Notes (and any Permitted Refinancing Indebtedness in respect thereof) so long as the Other Payment Conditions are satisfied on a pro forma basis both before and after giving
effect to such Investments; 
 (x) Investments in Permitted Businesses, joint ventures or Unrestricted
Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (x) that are at that time outstanding, not to exceed the greater of (x) $40.0 million and (y) 5.0% of Total
Assets; provided, however, that if any Investment pursuant to this clause (x) is made in a Person that is not a Restricted Subsidiary of the Lead Borrower at the date of the making of such investment and such Person becomes a Restricted
Subsidiary of the Lead Borrower after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (i) above and shall cease to have been made pursuant to this clause (x) for so long as such Person continues
to be a Restricted Subsidiary; 

  
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 (xi) (A) Guarantees issued in accordance Section 6.02 and
(B) Guarantees of performance or other obligations (other than Indebtedness) arising in the ordinary course of business or consistent with past practice; 
 (xii) any Investment existing on the Closing Date and any Investment that replaces, refinances or refunds an existing Investment; provided, that the new Investment is in an amount that does not
exceed the amount replaced, refinanced or refunded, and is made in the same Person as the Investment replaced, refinanced or refunded; 
 (xiii) Investments consisting of purchases and acquisitions of parts, buildings, inventory, supplies, materials and equipment or purchases of contract rights or licenses or leases of Intellectual
Property, in each case in the ordinary course of business; 
 (xiv) Additional Investments by the Lead Borrower
or any Restricted Subsidiary having an aggregate Fair Market Value (measured on the date each such Investment was made and without giving effect to subsequent changes in value), taken together with all other Investments made pursuant to this
paragraph (xiv) that are at the time outstanding not to exceed the greater of (x) $40.0 million and (y) 5.0% of Total Assets; provided, however, that if any Investment pursuant to this paragraph (xiv) is made in a Person
that is not a Restricted Subsidiary of the Lead Borrower at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Lead Borrower after such date, such Investment shall thereafter be deemed to have been made
pursuant to clause (i) above and shall cease to have been made pursuant to this paragraph (xiv) for so long as such Person continues to be a Restricted Subsidiary; 

(xv) all other Investments in each case that are at any time outstanding; provided, however that Investments
in a Person under this clause that is not a Loan Party shall only be permitted if the Other Payment Conditions are satisfied on a pro forma basis both before and after giving effect to such Investments; 

(xvi) Investments consisting of contributions or other dispositions to any Person (including any Unrestricted Subsidiary
or Permitted MTBE Joint Venture) of any MTBE Assets or Capital Stock of any MTBE Subsidiary or Permitted MTBE Joint Venture and (ii) Investments in any MTBE Subsidiary that is a Restricted Subsidiary of the Lead Borrower on the Issue Date but
is designated as an Unrestricted Subsidiary after the Issue Date to the extent such Investments are in existence immediately prior to the time such MTBE Subsidiary is designated as an Unrestricted Subsidiary; 

(xvii) any Investment made in connection with MLP Formation Transactions; 

(xviii) Investments in any Person to the extent such Investments consist of prepaid expenses, negotiable instruments held
for collection and lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Lead Borrower or any of its Restricted Subsidiaries; 

  
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 (xix) pledges or deposits made in the ordinary course of business; and 

(xx) any Investment to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of
Section 6.07 (except for transactions described in clauses (vi), (viii), (x) and (xii) of such Section); 

provided, however, that with respect to any Investment, the Lead Borrower may, in its sole discretion, allocate all or any portion
of any Investment to one or more of the above clauses (i) through (xx) so that the entire Investment would be a Permitted Investment. 
 “Permitted Liens” shall mean: 
 (i) Liens
(a) created pursuant to the Security Documents and (b) securing the Senior Notes, the related Note Guarantees, subject to the terms of the Intercreditor Agreement; 

(ii) Liens in favor of Holdings or any of its Restricted Subsidiaries; 

(iii) Liens on property of a Person existing at the time such Person is merged with or into or consolidated with Holdings
or any Subsidiary of Holdings; provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with Holdings or
the Subsidiary; 
 (iv) Liens on property (including Capital Stock) existing at the time of acquisition of the
property by Holdings or any Subsidiary of Holdings; provided that such Liens were in existence prior to, such acquisition, and not incurred in contemplation of, such acquisition; 

(v) Liens or deposits to secure the performance of statutory or regulatory obligations, or surety, appeal, indemnity or
performance bonds, warranty and contractual requirements or other obligations of a like nature incurred in the ordinary course of business and Liens over cash deposits in connection with an acquisition, lease, disposition or investment; 

(vi) Liens securing reimbursement obligations with respect to commercial letters of credit which encumber documents and
other assets relating to such letters of credit and products and proceeds thereof and any cash cover relating to a letter of credit or bank guarantee; 
 (vii) Liens to secure Indebtedness (including Capital Lease Obligations) permitted to be incurred pursuant to Section 6.02(b)(iii) covering only the assets acquired with or financed by
such Indebtedness; 
 (viii) Liens securing Indebtedness permitted to be incurred pursuant to
Section 6.02(b)(xii); provided that such Liens are pari passu or junior to the Liens securing the Senior Notes or junior to Liens securing the Revolving Facility and, if such Indebtedness is for borrowed money, the holders of such
Indebtedness enter into the Intercreditor Agreement or Junior Lien Intercreditor Agreement, as applicable; 

  
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 (ix) Liens existing on the Closing Date; 

(x) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested
in good faith by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor; 

(xi) Liens incurred or deposits made in the ordinary course of business to secure payment of workers’ compensation or
to participate in any fund in connection with workmen’s compensation, unemployment insurance, old-age pensions or other social security programs; 
 (xii) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s, lessor’s, suppliers, banks, repairmen’s and mechanics’ Liens, and Liens of landlords securing
obligations to pay lease payments that are not yet due and payable or in default, in each case, incurred in the ordinary course of business; 
 (xiii) leases or subleases granted to others that do not materially interfere with the ordinary conduct of business of Holdings or any of its Restricted Subsidiaries; 

(xiv) (A) survey exceptions, easements, rights of way, zoning and similar restrictions, reservations or encumbrances
in respect of real property or title defects that were not incurred in connection with Indebtedness and that do not in the aggregate materially adversely affect the value of said properties (as such properties are used by Holdings or its
Subsidiaries) or materially impair their use in the operation of the business of Holdings and its Subsidiaries and (B) access agreements, easements, leases, licenses, use agreements, utility agreements, service agreements, and other like
encumbrances granted by the Lead Borrower or a Restricted Subsidiary of the Lead Borrower to an MTBE Subsidiary, Permitted MTBE Joint Venture or any other third party in connection with the disposition of the MTBE Assets to, or the use or ownership
of the MTBE Assets by, such MTBE Subsidiary, Permitted MTBE Joint Venture or third party so long as such encumbrances do not in the aggregate materially adversely affect the value of said properties (as such properties are used by the Lead Borrower
or its Subsidiaries) or materially impair their use in the operation of the business of the Lead Borrower and its Subsidiaries; 
 (xv) Liens to secure any Permitted Refinancing Indebtedness; provided, however, that: 
 (A) the new Lien shall be limited to all or part of the same property and assets that secured or, under the written agreements pursuant to which the original Lien arose, could secure the original Lien
(plus improvements and accessions to, such property or proceeds or distributions thereof); and 
 (B) the
Indebtedness secured by the new Lien is not increased to any amount greater than the sum of (x) the outstanding principal amount, or, if greater, committed amount, of the Permitted Refinancing Indebtedness and (y) an amount necessary to
pay any fees and expenses, including premiums, related to such renewal, refunding, refinancing, replacement, defeasance or discharge; 

  
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 (xvi) Liens arising from precautionary Uniform Commercial Code financing
statement filings regarding operating leases entered into by Holdings or any of its Restricted Subsidiaries in the ordinary course of business; 
 (xvii) judgment Liens not giving rise to an Event of Default so long as any appropriate legal proceedings that may have been duly initiated for the review of such judgment shall not have been finally
terminated or the period within which such legal proceedings may be initiated shall not have expired; 
 (xviii)
Liens securing Indebtedness or other obligations of the Lead Borrower or any Subsidiary of the Lead Borrower with respect to obligations that do not exceed the greater of (x) $50.0 million and (y) 5.0% of Total Assets at any one time
outstanding; provided that such Liens are pari passu or junior to the Liens securing the Senior Notes or junior to Liens securing the Revolving Facility and, if such Indebtedness is for borrowed money, the holders of such Indebtedness enter
into the Intercreditor Agreement or Junior Lien Intercreditor Agreement, as applicable; 
 (xix) licenses of
Intellectual Property in the ordinary course of business; 
 (xx) Liens on Capital Stock of an Unrestricted
Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary; 
 (xxi) leases and
subleases of real property which do not materially interfere with the ordinary conduct of the business of Holdings and its Restricted Subsidiaries; 
 (xxii) Liens to secure a defeasance trust that do not extend to any Revolving Facility Priority Collateral or are secured in a junior basis to the Liens securing the Revolving Facility or are on a pari
passu or junior basis to the Liens securing the Senior Notes; 
 (xxiii) Liens on equipment of Holdings or any
Restricted Subsidiary granted in the ordinary course of business to clients of which such equipment is located; 

(xxiv) Liens securing insurance premium financing arrangements, provided that such Lien is limited to the
applicable insurance contracts; 
 (xxv) Liens securing the aggregate amount of Indebtedness (including Acquired
Debt) incurred in connection with (or at any time following the consummation of) an Asset Acquisition made in accordance with the Senior Notes Indenture equal to, at the time of incurrence, the net increase in inventory, accounts receivable and net
property, reserves, plant and equipment attributable to such Asset Acquisition from the amounts reflected on the Lead Borrower’s historical consolidated balance sheet as of the end of the full fiscal quarter ending on or prior to the date of
such Asset Acquisition calculated after giving effect on a pro forma basis to such Asset Acquisition (which amount may, but need not, be incurred in whole or in part under this Agreement) less the amount of Indebtedness incurred in connection with
such Asset Acquisition secured by Liens 

  
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pursuant to clauses (iv) or (vii) above; provided that such Liens are pari passu or junior to the Liens securing the Senior Notes or junior to Liens securing the Revolving
Facility and, if such Indebtedness is for borrowed money, the holders of such Indebtedness enter into the Intercreditor Agreement or Junior Lien Intercreditor Agreement, as applicable; 

(xxvi) Liens arising under retention of title, hire purchase or conditional sale arrangements arising under provisions in
a supplier’s standard conditions of supply in respect of goods or services supplied to Holdings or any Restricted Subsidiary in the ordinary course of business and on arm’s length terms; 

(xxvii) Liens arising by way of set-off or pledge (in favor of the account holding bank) arising by operation of law or
pursuant to standard banking terms or conditions, provided that the relevant bank account has not been set up nor has the relevant credit balance arisen in order to implement a secured financing; 

(xxviii) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to
commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
 (xxix) Liens securing Hedging Obligations; provided that Liens securing Hedging Obligations that are not Bank Product Debt shall only extend to Notes Priority Collateral or shall be junior to Liens
securing the Revolving Facility; 
 (xxx) any (a) interest or title of a lessor or sublessor under any
lease, (b) restriction or encumbrance that the interest or title of such lessor or sublessor may be subject to (including, without limitation, ground leases or other prior leases of the demised premises, mortgages, mechanics’ liens, tax
liens, and easements); (c) subordination of the interest of the lessee or sublessee under such lease to any restrictions or encumbrance referred to in the preceding clause (b) or (d) Liens over rental deposits with a lessor pursuant
to a property lease entered into in the ordinary course of business; 
 (xxxi) Liens incurred under or in
connection with lease and sale and leaseback transactions and novations and any refinancings thereof (and Liens securing obligations under lease transaction documents relating thereto), including, without limitation, Liens over the assets which are
the subject of such sale and leaseback transactions, novations and/or refinancings, assets and contract rights related thereto (including, without limitation, the rights to receive rental rebates or deferred sale payments), sub-lease rights,
insurances relating thereto and rental deposits; 
 (xxxii) Liens either not on Revolving Facility Priority
Collateral or secured by Revolving Facility Priority Collateral on a basis that is junior to the Liens securing the Revolving Facility securing Indebtedness and that is permitted to be incurred pursuant to Section 6.02; provided
that (x) at the time such Liens are put in place, no Event of Default has occurred and is continuing, (y) the holders of such Indebtedness, if such Indebtedness is for borrowed money, enter into the Intercreditor Agreement or Junior
Lien Intercreditor Agreement, as applicable and (z) the Senior Secured Leverage Ratio on a pro forma basis shall be no greater than 4.50:1.00; and 

  
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 (xxxiii) Liens arising under the Senior Notes Indenture in favor of the trustee thereunder
for its own benefit and similar Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness permitted to be incurred under Section 6.02, provided, however, that such Liens are solely for
the benefit of such trustees, agents or representatives in their capacities as such and not for the benefit of the holders of such Indebtedness and such Liens are pari passu or junior to the Liens securing the Senior Notes or junior to Liens
securing the Revolving Facility; 
 provided, however, that no reference herein to Liens permitted hereunder (including
Permitted Liens), including any statement or provision as to the acceptability of any Liens (including Permitted Liens), shall, solely by virtue of being permitted hereunder, in any way constitute or be construed as to provide for a contractual
subordination of any rights of payment of any Secured Party in favor of such Liens. 
 “Permitted MTBE Joint
Venture” means a Person (together with its Subsidiaries, if any) organized by the Lead Borrower or an MTBE Subsidiary and one or more third parties for the purpose, among other things, of utilizing the MTBE Assets regardless of whether such
Person is a joint venture or a minority-owned Person; provided that such Person shall not be a Subsidiary. 
 “Permitted
Payments to Parent” shall mean, without duplication as to amounts: 
 (i) payments to any parent
companies of Holdings in amounts equal to the amounts required for any direct payment of Holdings to pay fees and expenses (including franchise or similar taxes) required to maintain its corporate existence, customary salary, bonus and other
benefits payable to officers and employees of any direct parent of Holdings and general corporate overhead expenses of any direct parent of Holdings to the extent such fees and expenses are attributable to the ownership or operation of Holdings and
its Subsidiaries; 
 (ii) for so long as Holdings is a member of a group filing a consolidated or combined tax
return in which a direct or indirect parent company of Holdings is the common parent, payments (directly or indirectly through any intermediary parent) to such parent company in respect of an allocable portion of the tax liabilities of such group
that is attributable to Holdings and its Subsidiaries (“Tax Payments”). The Tax Payments shall not exceed the lesser of (i) the amount of the relevant tax (including any penalties and interest) that Holdings would owe if
Holdings were filing a separate tax return (or a separate consolidated or combined return with its Subsidiaries that are members of the consolidated or combined group), taking into account any carryovers and carrybacks of tax attributes (such as net
operating losses) of Holdings and such Subsidiaries from other taxable years and (ii) the net amount of the relevant tax that such parent companies actually owe to the appropriate taxing authority, which, in each case of clause (i) and
(ii), is reduced by any such taxes paid by Holdings to the appropriate taxing authority. Any Tax Payments received from Holdings shall be paid over to the appropriate taxing authority within 30 days of such parent companies’ receipt of such Tax
Payments or refunded to Holdings; and 

  
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 (iii) dividends or distributions paid to such parent companies, if
applicable, in amounts equal to amounts required for such parent companies, if applicable, to pay interest and/or principal on Indebtedness the proceeds of which have been contributed to Holdings or any of its Restricted Subsidiaries and that has
been guaranteed by, or is otherwise considered Indebtedness of, Holdings incurred in accordance with the covenant described under Section 6.02. 
 “Permitted Refinancing Indebtedness” shall mean any Indebtedness of Holdings or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to renew,
refund, refinance, replace, defease or discharge other Indebtedness of Holdings or any of Holdings’ Restricted Subsidiaries (other than intercompany Indebtedness); provided that: 

(i) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the
principal amount (or accreted value, if applicable) of the Indebtedness renewed, refunded, refinanced, replaced, defeased or discharged (plus any premium required to be paid on the Indebtedness being so renewed, refunded, replaced, defeased
or discharged, plus the amount of all fees and expenses incurred in connection therewith); 
 (ii) such
Permitted Refinancing Indebtedness has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of, the Indebtedness
being renewed, refunded, refinanced, replaced, defeased or discharged; provided that this clause (ii) shall not apply to debt incurred under the Revolving Facility; 

(iii) if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged is subordinated in right
of payment to the notes, such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and is subordinated in right of payment to, the notes on terms at least as favorable to the holders of notes as those
contained in the documentation governing the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged; and 
 (iv) such Refinancing Indebtedness shall not include Indebtedness of Holdings or a Restricted Subsidiary that refinances Indebtedness of an Unrestricted Subsidiary. 

“Person” shall mean any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity; provided that when Person is used to refer to the Company, it shall refer (i) prior to a Qualifying MLP IPO, TPC Group Inc. and (ii) after a
Qualifying MLP IPO, to the MLP. 
 “Plan” shall mean with respect to any Person resident in the United States,
any employee pension benefit plan subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA and in respect of which any Borrower, any Subsidiary of a Borrower or any ERISA Affiliate is (or if
such plan were terminated would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
 “Platform” shall have the meaning specified in Section 9.17(b). 

  
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 “Pledge and Security Agreement” means that certain Pledge and Security
Agreement, dated as of the date hereof, between the Loan Parties and the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties. 
 “Primary Obligor” shall have the meaning specified in the definition of the term “Guarantee.” 
 “Prior Liens” shall mean Liens that, pursuant to the provisions of any Security Document, are or may be superior to the Lien of such Security Document. 

“Pro Forma Adjustment” means, for any period, the pro forma increase or decrease in Consolidated Adjusted EBITDA, as
certified to the Administrative Agent by the chief financial officer or other equivalent officer of the Lead Borrower, which pro forma increase or decrease shall be based on the Lead Borrower’s good faith projections and reasonable assumptions
as a result of (i) actions taken, prior to or during such period, for the purposes of realizing reasonably identifiable and factually supportable (in the good faith determination of the Lead Borrower) operating expense reductions and other
operating improvements, restructurings and cost savings that are reasonably expected to be realized within 18 months following such action) and (ii) any additional costs incurred during such 18 month period in connection with such actions;
provided that (A) so long as such actions are taken prior to or during such period or such costs are incurred prior to or during such period it may be assumed, for purposes of projecting such pro forma increase or decrease to
Consolidated Adjusted EBITDA, that such cost savings will be realizable during the entirety of such period, or such additional costs will be incurred during the entirety of such period, and (B) any such pro forma increase or decrease to
Consolidated Adjusted EBITDA shall be without duplication of cost savings or additional costs already included in Consolidated Adjusted EBITDA for such period. 
 “Projections” shall mean any projections and any forward-looking statements (including statements with respect to booked business) of such entities furnished to the Lenders or the
Administrative Agent by or on behalf of Holdings or any of its Subsidiaries prior to the Closing Date. 
 “Protective
Advances” shall have the meaning specified in Section 2.24. 
 “Qualifying Lender” shall
mean a Lender or Issuing Bank that is exempt from U.S. federal withholding tax on any payment received by such Lender or Issuing Bank. 
 “Qualifying MLP IPO” means an initial offer and sale of common units of the MLP in an underwritten public offering for cash pursuant to a registration statement that has been declared
effective by the SEC pursuant to the Securities Act (other than a registration statement on Form S-4 or Form S-8 or otherwise relating to Equity Interests of the MLP issuable under any employee benefit plan); provided, however, that
(i) immediately after such offering, the MLP is treated as a partnership for U.S. federal income tax purposes and qualifies for the exception contained in Section 7704(c) of the Code for partnerships with “qualifying income” (as
defined in Section 7704(d) of the Code) and (ii) the Lead Borrower and/or selling shareholders receive aggregate gross proceeds (including in any combination of primary and secondary offerings) of at least $75.0 million from such sale(s).

  
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 “Quarterly Average Excess Availability Percentage” means, at any time, the
Average Excess Availability Percentage for the immediately preceding fiscal quarter. 
 “Quarterly Average Unused
Revolving Facility Balance” means, at any time, the Average Unused Revolving Facility Balance for the immediately preceding fiscal quarter. 
 “Real Property” shall mean, collectively, all right, title and interest of a Borrower or any other Loan Party in and to any and all parcels of real property owned or leased by a Borrower
or any other Loan Party together with all improvements and appurtenant fixtures, easements and other property and rights incidental to the ownership, lease or operation thereof. 

“Refinance” shall have the meaning specified in the definition of the term “Permitted Refinancing
Indebtedness,” and “Refinanced” shall have a meaning correlative thereto. 

“Refinancing” shall mean, collectively, (i) the indebtedness consisting of the $175 million Amended and Restated
Revolving Credit Facility dated as of April 29, 2010 among the Target, Deutsche Bank Trust Company Americas, as Administrative Agent and Collateral Agent and the other parties from time to time part thereto, as amended on September 22,
2010 (the “Existing ABL Credit Agreement”), will be repaid in full and all commitments thereunder will be terminated, on or prior to the Closing Date, (ii) the Lead Borrower will either, at its option (a) redeem or satisfy
and discharge in full its outstanding 8 1/4% Senior Secured Notes due October 1, 2017 issued under the Indenture dated as of October 5, 2010 among the Target, as issuer, Wilmington Trust Company, as trustee, and the other parties from time
to time party thereto (the “Existing Notes” and together with the Existing ABL Credit Agreement, the “Existing Facilities”) or (b) undertake the Debt Offer (as defined in the Merger Agreement) and
(iii) after giving effect to the Transactions, neither Holdings nor any of its Restricted Subsidiaries shall have any material third party indebtedness for borrowed money (other than under this Agreement and the Senior Notes and, if applicable,
any Existing Notes outstanding after the Closing Date to the extent that have been fully satisfied and discharged). 

“Register” shall have the meaning specified in Section 9.04(b). 

“Regulation S-X” shall mean Regulation S-X promulgated under the Securities Act. 

“Regulation U” shall mean Regulation U of the Board as from time to time in effect and all official rulings and
interpretations thereunder or thereof. 
 “Regulation X” shall mean Regulation X of the Board as from time to
time in effect and all official rulings and interpretations thereunder or thereof. 
 “Related Parties” shall
mean, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Release” shall mean any placing, spilling, adding, releasing, leaking, seepage, pumping, pouring, emitting, emptying,
discharging, injecting, escaping, leaching, dumping, disposing or depositing in, into or onto the Environment. 

  
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 “Rent and Charges Reserve” shall mean the aggregate of (a) all past
due rent and other amounts owing by any Loan Party to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any Revolving Facility Priority Collateral or could assert a Lien on
any Revolving Facility Priority Collateral; and (b) a reserve at least equal to three months’ rent and other charges that could be payable to any such Person, unless it has executed a Lien Waiver, if required pursuant to the definition
thereof. 
 “Reportable Event” shall mean any reportable event as defined in Section 4043(c) of ERISA
or the regulations issued thereunder, other than those events as to which the 30-day notice period has been waived, with respect to a Plan. 
 “Reporting Failure” shall mean the failure of Holdings to make available, post or otherwise deliver to the Administrative Agent, within the time periods specified in
Section 5.04 the periodic reports, information, documents or other reports which Holdings or a Loan Party may be required to make available, post or otherwise deliver pursuant to such provision. 

“Required Lenders” shall mean, at any time, Lenders having (a) Loans (other than Swingline Loans) outstanding,
(b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments, that taken together, represent more than 50% of the sum of (w) all Loans (other than Swingline Loans) outstanding, (x) Revolving L/C
Exposures, (y) Swingline Exposures, and (z) the total Available Unused Commitments at such time. The Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in
determining Required Lenders at any time. 
 “Reservations” shall mean (a) the time barring of claims
under applicable limitation laws, the possibility that an undertaking to assume liability for or indemnify a person against non-payment of stamp duty may be void and defences of set- off or counterclaim and similar principles or limitations under
laws of applicable jurisdictions; and (b) general principles, reservations or qualifications in each case as to matters of law contained in the legal opinions delivered to the Administrative Agent in connection with any Loan Document;
provided that where any such legal opinion has been delivered in relation to a particular Loan Party and/or a particular document, the said general principles, reservations or qualifications shall only be deemed to apply to such Loan Party
and/or document (other than in the case where the definition is used in respect of a person and/or a document in respect of which a legal opinion has not been rendered under this Agreement where the said general principles, reservations or
qualifications shall, to the extent applicable, be deemed to apply to such person and/or document). 
 “Responsible
Officer” of any Person shall mean any executive officer, Financial Officer or director of such Person and any other officer or similar official thereof responsible for the administration of the obligations of such Person in respect of this
Agreement. 
 “Restricted Investment” shall mean an Investment other than a Permitted Investment. 

“Restricted Subsidiary” of a Person shall mean any Subsidiary of that Person that is not an Unrestricted Subsidiary.

  
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 “Revolving Facility” shall mean the Commitments and the extensions of
credit made hereunder by the Revolving Facility Lenders. 
 “Revolving Facility Borrowing” shall mean a
Borrowing by a Borrower comprised of Revolving Facility Loans to such Borrower. 
 “Revolving Facility Credit
Exposure” shall mean, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) the Revolving L/C Exposure at such
time. The Revolving Facility Credit Exposure of any Revolving Facility Lender at any time shall be the sum of (a) the aggregate principal amount of such Revolving Facility Lender’s Revolving Facility Loans outstanding at such time and
(b) such Revolving Facility Lender’s Revolving Facility Percentage of the Swingline Exposure and Revolving L/C Exposure at such time. For purposes of calculating Applicable Commitment Fee Percentage, Swingline Exposure shall not be
included in the definition of Revolving Facility Credit Exposure. 
 “Revolving Facility Lender” shall mean a
Lender with a Commitment or with outstanding Revolving Facility Loans (including any New Revolving Facility Lender). 

“Revolving Facility Loan” shall mean, in respect of a Borrower, a Loan made to such Borrower by a Revolving Facility
Lender or a loan made by a New Revolving Facility Lender under any New Revolving Facility Commitments pursuant to Section 2.20. Each Revolving Facility Revolving Loan shall be a LIBOR Loan. 

“Revolving Facility Percentage” shall mean, with respect to any Revolving Facility Lender, the percentage of the total
Commitments represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Revolving Facility Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments
pursuant to Section 9.04. 
 “Revolving Facility Priority Collateral” shall have the meaning set
forth in the Intercreditor Agreement. 
 “Revolving L/C Commitment” shall mean, with respect to each Issuing
Bank, the commitment of such Issuing Bank to issue Revolving Letters of Credit pursuant to Section 2.05, expressed as a U.S. Dollar amount, as such commitment may be (a) increased from time to time by agreement between such
Issuing Bank and Holdings (by notice to the Administrative Agent) and (b) reduced or increased from time to time pursuant to assignments by or to such Issuing Bank under Section 9.04. The amount of each Issuing Banks’ Revolving
L/C Commitment as of the Closing Date is set forth in Schedule 2.01. The amount of each Issuing Bank which assumes or provides a Revolving L/C Commitment after the Closing Date will be set forth in a notice to the Administrative Agent or in
the Assignment and Acceptance pursuant to which such Issuing Bank shall have assumed its Revolving L/C Commitment, as applicable. In the event that any Issuing Bank increases its Revolving L/C Commitment by agreement between such Issuing Bank and
Holdings, it will inform the Administrative Agent promptly in writing of the amount of such increased Revolving L/C Commitment. In no event will the aggregate amount of all Revolving L/C Commitments exceed $50.0 million at any time. 

  
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 “Revolving L/C Disbursement” shall mean a payment or disbursement made by
an Issuing Bank pursuant to a Revolving Letter of Credit, including, for the avoidance of doubt, a payment or disbursement made by an Issuing Bank pursuant to a Revolving Letter of Credit upon or following the reinstatement of such Revolving Letter
of Credit. 
 “Revolving L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount
of all Revolving Letters of Credit outstanding at such time and (b) the aggregate principal amount of all Revolving L/C Disbursements that have not yet been reimbursed at such time. The Revolving L/C Exposure of any Revolving Facility Lender at
any time shall mean its Revolving Facility Percentage of the aggregate Revolving L/C Exposure at such time. 

“Revolving L/C Participation Fees” shall have the meaning specified in Section 2.12(b). 

“Revolving L/C Reimbursement Obligation” shall mean the Borrowers’ obligation to repay Revolving L/C Disbursements.

 “Revolving Letter of Credit” shall mean any letter of credit issued pursuant to Section 2.05.

 “S&P” shall mean Standard & Poor’s Ratings Services, Inc., a division of The McGraw-Hill
Companies, Inc. 
 “Sanctions” shall have the meaning specified in Section 3.08(c). 

“SEC” shall mean the Securities and Exchange Commission or any successor thereto. 

“Secured Bank Product Obligations” shall mean Bank Product Debt, including, without limitation, the Bank Product Debt
set forth in Schedule 1.01(a) as of the date hereof owing to a Secured Bank Product Provider, up to the maximum amount (in the case of any Secured Bank Product Provider other than Bank of America and its Affiliates so long as Bank of America is the
Administrative Agent) reasonably specified by such provider in writing to the Administrative Agent, which amount may be established or increased (by further written notice to the Administrative Agent from time to time) as long as no Event of Default
exists and no Overadvance would result from establishment of a Bank Product Reserve for such amount and all other Secured Bank Product Obligations. 
 “Secured Bank Product Provider” (a) Bank of America or any of its Affiliates; and (b) any other Person that is a Lender or Affiliate of a Lender at the time it provides a Bank
Product, provided such provider delivers written notice to the Administrative Agent, within 20 Business Days (or such later date as the Administrative Agent shall reasonably agree) following the later of the Closing Date or creation of the
Bank Product, (i) describing the Bank Product and setting forth the maximum amount to be secured by the Collateral and the methodology to be used in calculating such amount, and (ii) agreeing to be bound by Section 8.11;
provided further that no Person shall be deemed a Secured Bank Product Provider until such time as the Administrative Agent shall have received a written notice from such Person in form and manner as specified in the preceding proviso.

  
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 “Secured Obligations” shall mean the Obligations and the Secured Bank
Product Obligations. 
 “Secured Parties,” with respect to a Security Document, shall have the meaning ascribed
to such term (or equivalent term) in such Security Document, and collectively shall mean all such parties. The Secured Parties shall include the Finance Parties and may also include any Lender or Affiliate of a Lender to whom Secured Bank Product
Obligations are owed (in its capacity as such). 
 “Securities Act” shall mean the Securities Act of 1933, as
amended. 
 “Security Documents” shall mean each of the security agreements and other instruments and documents
executed and delivered pursuant to the Collateral and Guarantee Requirement (other than the Loan Document Guarantee) or pursuant to Section 5.10, including the Pledge and Security Agreement. Each Security Document shall secure the
Secured Obligations. 
 “Senior Secured Leverage Ratio” means, as of any date of determination, the ratio of
(a) the Consolidated Total Indebtedness of the Lead Borrower and its Restricted Subsidiaries as of the end of the most recent fiscal quarter for which financial statements are available that is secured by Liens on a pari passu basis with the
Revolving and/or the Senior Notes, less an amount equal to the sum of all cash and Cash Equivalents of Holdings and its Restricted Subsidiaries as of such date, to (b) the Other Debt Covenant EBITDA for the most recently ended four fiscal
quarters ending immediately prior to such date for which internal financial statements are available. 
 “Senior
Notes” shall have the meaning specified in the recital hereto. 
 “Senior Notes Indenture” shall mean
the indenture, dated as of December 20, 2012 by and among the Lead Borrower (in its capacity as issuer of the Senior Notes), the Note Guarantors and the Notes Trustee. 
 “Settlement Report” shall mean a report summarizing Revolving Facility and participations in Revolving L/C Exposure outstanding as of a given settlement date, allocated to Revolving
Facility Lenders on a pro rata basis in accordance with their Commitments. 
 “Significant Subsidiary” means
any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act of 1934, as such Regulation is in effect on the Closing Date. 

“Significant Asset Sale” shall mean any single or series of related Asset Sale transactions involving assets or Equity
Interests having Fair Market Value in excess of $20 million. 
 “Specified Acquisition Agreement
Representations” shall mean the representations and warranties made by or with respect to the Target and its subsidiaries in the Merger Agreement that are material to the interests of the Lenders (but only to the extent that the Merger Sub
or any of Merger Sub’s affiliates have the right to terminate their obligations under the Merger Agreement or a right not to consummate the Acquisition as a result of a breach of such representations and warranties). 

  
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 “Specified Default” shall mean (a) any Event of Default arising from a
breach of the cash management provisions under this Agreement or any other Loan Document, (b) an Event of Default due to a representation contained in any Borrowing Base Certificate proving to have been incorrect in any respect in a manner
materially adverse to the interest of the Revolving Facility Lenders when made or deemed made, (c) an Event of Default due to a failure to deliver a Borrowing Base certificate (after expiration of any applicable cure periods) and (d) any
payment, bankruptcy or financial covenant Event of Default, in each case is continuing. 
 “Specified Existing
Commitment Class” shall have the meaning specified in Section 2.23. 
 “Specified
Representations” mean the representations and warranties of the Borrowers and the Guarantors set forth in Sections 3.01(a), 3.01(d) (solely as it relates to execution and delivery and performance of the applicable Loan
Documents), 3.02(a), 3.02(b)(i)(A) (solely with respect to no conflicts of the Loan Documents with charter documents or except to the extent such conflict has not resulted in a company Material Adverse Effect, applicable laws),
3.03, 3.08(d), 3.08(e), 3.09(b)(ii), 3.10, 3.17 and 3.18. 

“Sponsor” shall have the meaning specified in the recitals hereto. 

“Sponsor Affiliate” shall mean (i) each Affiliate of a Sponsor that is neither a portfolio company nor a company
controlled by a portfolio company and (ii) each general partner of a Sponsor or Sponsor Affiliate who is a partner or employee of the Sponsor. 
 “Stated Maturity” shall mean, with respect to any installment of principal on any series of Indebtedness, the date on which the final payment of principal was scheduled to be paid in the
documentation governing such Indebtedness as of the Closing Date, and will not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally scheduled for the payment thereof. 

“Subject Transaction” means, with respect to any period, (a) the Transactions, (b) any Permitted Acquisition
or the making of other Investments not prohibited by this Agreement, (c) any disposition transfer, sale, incurrence, issuance, refinancing, provision of incremental commitments, or prepayment of Indebtedness) not prohibited by this Agreement,
(d) the designation of a subsidiary as an Unrestricted Subsidiary or an Unrestricted Subsidiary as a Subsidiary in accordance with Section 6.09 hereof or (e) any other event that by the terms of the Loan Documents requires pro
forma compliance with a test or covenant hereunder or requires such test or covenant to be calculated on a pro forma basis. 

“Subsidiary” shall mean, with respect to any specified Person: (1) any corporation, association or other business
entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively
transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or

  
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one or more of the other Subsidiaries of that Person (or a combination thereof); and (2) any partnership (a) the sole general partner or the managing general partner of which is such
Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 “Subsidiary Loan Party” shall mean each direct Wholly Owned Subsidiary of any Borrower that is a Borrower or a Guarantor (or is required pursuant to the Collateral and Guarantee
Requirement or the requirements of Section 5.10, Section 5.12 or Section 5.13 to become a Guarantor). 
 “Super-Majority Lenders” shall mean, at any time, those Revolving Lenders (other than Defaulting Lenders) having more than 66.67% of the aggregate amount of the Commitments (excluding the
Commitments of Defaulting Lenders) or, if the Commitments shall have expired or been terminated, Revolving Lenders (other than Defaulting Lenders) having more than 66.67% of the aggregate amount of the outstanding Revolving Facility Exposures
(excluding the Revolving Facility Exposures of Defaulting Lenders). 
 “Swingline Borrowing” means a borrowing
of a Swingline Loan pursuant to Section 2.04. 
 “Swingline Exposure” shall mean at any time the
aggregate principal amount of all outstanding Swingline Borrowings at such time. The Swingline Exposure of any Revolving Facility Lender at any time shall mean its Revolving Facility Percentage of the aggregate Swingline Exposure at such time.

 “Swingline Lender” shall mean Bank of America, N.A., in its capacity as a lender of Swingline Loans and/or
any other Revolving Facility Lender designated as such by the Borrower after the Closing Date that is reasonably satisfactory to the Borrower and the Administrative Agent and executes a counterpart to this Agreement as a Swingline Lender.

 “Swingline Loan” has the meaning specified in Section 2.04(a). Each Swingline Loan shall be an
ABR Loan. 
 “Syndication Agent” shall have the meaning specified in the introductory paragraph of this
Agreement. 
 “Target” shall mean TPC Group Inc., a Delaware corporation. 

“Taxes” shall mean any and all present or future taxes, levies, imposts, duties (including stamp duties), deductions,
charges (including ad valorem charges) or withholdings imposed by any Governmental Authority and any and all interest and penalties related thereto. 
 “Test Period” shall mean, at any date of determination, the most recently completed four consecutive fiscal quarters of Holdings ending on or prior to such date. 

“Total Assets” shall mean the total consolidated assets of Holdings and its Restricted Subsidiaries, as shown on the
most recent balance sheet of Holdings. 

  
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 “Total Non-Guarantor Assets” means the total assets of the Restricted
Subsidiaries of the Holdings that are not Guarantors, as shown on the most recent balance sheet of Holdings. 
 “Total
Commitments” shall mean the aggregate of the Commitments. 
 “Transactions” shall mean, collectively,
(a) the consummation of the Refinancing, (b) the execution and delivery of the Loan Documents and the satisfaction of the conditions precedent to initial borrowings hereunder and (c) the payment of all fees and expenses owing in
connection with the foregoing. 
 “Type,” when used in respect of any Loan or Borrowing, shall refer to the
Rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall include the Alternate Base Rate and the LIBOR Rate. 

“UCC” shall mean (a) the Uniform Commercial Code as in effect in the applicable jurisdiction and
(b) certificate of title or other similar statutes relating to “rolling stock” or barges as in effect in the applicable jurisdiction. 
 “U.S. Bankruptcy Code” shall mean Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors. 

“U.S. Borrower” shall mean that a Borrower that is a United States person within the meaning of Section 7701(a)(30)
of the Code. 
 “U.S. Dollars” or “U.S.$” shall mean the lawful currency of the United States
of America. 
 “U.S. Person” shall have the meaning specified in Section 7701(a)(30) of the Code.

 “U.S.A. PATRIOT Act” shall have the meaning specified in Section 9.19. 

“Unrestricted Subsidiary” shall mean: 

(i) any Subsidiary of the Lead Borrower that at the time of determination shall be designated an Unrestricted Subsidiary
by the Board of Directors of Holdings or the Lead Borrower in the manner provided below; and 
 (ii) any
Subsidiary of an Unrestricted Subsidiary. 
 The Board of Directors of Holdings or the Borrower may designate any Subsidiary of
Holdings (including any newly acquired or newly formed Subsidiary of Holdings) other than a Borrower to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds
any Lien on any property of, Holdings or any other Subsidiary of Holdings that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the
time of designation have and do not thereafter incur Non-recourse Debt (other than guarantees of performance of the Unrestricted Subsidiary in the ordinary course of business, 

  
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excluding guarantees of Indebtedness for borrowed money); provided, further, however, that both immediately before and after giving effect to any such designation the Other
Payment Conditions are met. 
 The Board of Directors of Holdings or the Lead Borrower may designate any Unrestricted Subsidiary
to be a Restricted Subsidiary; provided, however, both immediately before and after giving effect to any such designation the Other Payment Conditions are met. 
 Any such designation by the Board of Directors of Holdings or the Lead Borrower shall be evidenced to the Administrative Agent by promptly filing with the Administrative Agent a copy of the resolution of
the applicable Board of Directors giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. 
 “Value” shall mean, (a) for Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion of cost
attributable to intercompany profit among Borrowers and their Affiliates; and (b) for an Account, its face amount, net of any rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other
taxes) that have been or could be claimed by the Account Debtor or any other Person. 
 “Weighted Average Life to
Maturity” shall mean, when applied to any Indebtedness at any date, the number of years obtained by dividing: 
 (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at
final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by 

(ii) the then outstanding principal amount of such Indebtedness. 

“Wholly Owned Domestic Subsidiary” shall mean a Wholly Owned Subsidiary that is a Domestic Subsidiary. 

“Wholly Owned Subsidiary” of any Person shall mean a Subsidiary of such Person, all of the Equity Interests of which
(other than exchangeable shares held by members of the Management Group, directors’ qualifying shares or nominee or other similar shares required pursuant to applicable law) are owned, directly or indirectly, by such Person or any other Wholly
Owned Subsidiary of such Person. 
 “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a
result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 Section 1.02. Terms Generally. The definitions set forth or referred to in Section 1.01 shall apply equally to both 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

  
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by the phrase “without limitation.” All references herein to Articles, Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and
Schedules to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, any reference in this Agreement to any Loan Document shall mean such document as amended, restated, supplemented or otherwise
modified from time to time. Except as otherwise expressly provided herein, all financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with generally accepted accounting principles in the U.S.
(“GAAP”) and all terms of an accounting or financial nature shall be construed and interpreted in accordance with GAAP, as in effect from time to time; provided that, if, the Lead Borrower requests an amendment to
Section 6.10 (or any defined term which has an effect on the provisions of Section 6.10 (but only to the extent of such effect and not for purposes of the other provisions hereof)) to eliminate the effect of any change
occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision or in the adoption by the Lead Borrower of a different GAAP (or if the Administrative Agent notifies the Lead Borrower that the Required
Lenders request an amendment to Section 6.10 (or any defined term which has an effect on the provisions of Section 6.10 (but only to the extent of such effect and not for purposes of the other provisions hereof) for such
purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall
have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith; provided further that, notwithstanding the foregoing, upon and following the acquisition of any business or new Subsidiary by
the Lead Borrower in accordance with this Agreement, in each case that would not constitute a “significant subsidiary” for purposes of Regulation S-X, financial items and information with respect to such newly acquired business or
Subsidiary that are required to be included in determining any financial calculations and other financial ratios contained herein for any period prior to such acquisition shall not be required to be in accordance with GAAP so long as the Lead
Borrower is able to reasonably estimate pro forma adjustments in respect of such acquisition for such period periods, and in each case such estimates are made in good faith and are factually supportable. If the Lead Borrower notifies the
Administrative Agent that it is required to report under IFRS or has elected to do so through an early adoption policy, “GAAP” shall mean international financial reporting standards pursuant to IFRS (provided that after such
conversion, the Lead Borrower cannot elect to report under GAAP). Notwithstanding anything to the contrary herein, (i) financial ratios and tests (including the Fixed Charge Coverage Ratio, the Senior Secured Leverage Ratio and the amount of
Total Assets) contained in this Agreement that are calculated with respect to any test period during which any Subject Transaction occurs shall be calculated with respect to such test period and such Subject Transaction on a Pro Forma Basis and
(ii) the calculation of financial measures with respect to the Lead Borrower will (i) prior to a Qualified MLP IPO, be based on the consolidated financial statements of TPC Group Inc. and (ii) after a Qualified MLP IPO, be based on
the consolidated financial statements of the MLP. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein
shall be made (i) without giving effect to any election under Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any
Indebtedness or other liabilities of any Borrower or any Subsidiary at “fair value”, as defined therein, and(ii) without giving effect to any treatment of Indebtedness in 

  
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 respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other
Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the
full stated principal amount thereof. 
 Section 1.03. Effectuation of Transfers. Each of the representations and
warranties of each Borrower contained in this Agreement (and all corresponding definitions) are made after giving effect to the Transactions (other than those referred in clause (b) of the definition thereof which are indicated to be concluded
after the Closing Date), unless the context otherwise requires. 
 Section 1.04. Uniform Commercial Code. As used
herein, the following terms are defined in accordance with the UCC in effect in the State of New York from time to time: “Chattel Paper,” “Commercial Tort Claim,” “Deposit Account,” “Document,”
“Equipment,” “General Intangibles,” “Goods,” “Instrument,” “Investment Property,” “Letter-of-Credit Right” and “Supporting Obligation.” 

ARTICLE II 
 THE
CREDITS 
 Section 2.01. Commitments. Subject to and upon the terms and conditions set forth herein, each Revolving
Facility Lender having a Commitment severally agrees to make Revolving Facility Loans to the Borrowers in U.S. Dollars from time to time on any Business Day during the Availability Period which in the aggregate will not exceed such Lender’s
Commitment at such time; provided that the Revolving Facility Credit Exposure at any time shall not exceed Availability at such time. Such Revolving Facility Loans may at the option of the Borrowers be incurred and maintained as, and/or
converted into, ABR Loans or LIBOR Loans, provided that all Revolving Facility Loans made by each of the Revolving Facility Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of
Revolving Facility Loans of the same Type. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Facility Loans. On the Maturity Date, all then unpaid Revolving
Facility Loans shall be repaid in full in U.S. Dollars. 
 Section 2.02. Loans and Borrowings. The Revolving
Facility Loans shall be made by the Revolving Facility Lenders ratably in accordance with their respective Revolving Facility Percentages on the date such Revolving Facility Loans are made hereunder. The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as
required. Borrowings of more than one Type and under more than one Facility may be outstanding at the same time; provided that there shall not at any time be more than a total of ten (10) Interest Periods in respect of Borrowings
outstanding under the Revolving Facility. Notwithstanding any other provision of this Agreement, no Borrower shall be entitled to request, or to elect to continue, any Borrowing if the Interest Period requested with respect thereto would end after
the Maturity Date. 

  
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 Section 2.03. Requests for Borrowings. The Borrowers shall give the
Administrative Agent at the Administrative Agent’s Office (i) prior to 11:00 a.m. (CST) at least two Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) in the case of a Borrowing of Revolving
Facility Loans if such Revolving Facility Loans are to be LIBOR Loans and (iii) prior to 11:00 a.m. (CST) written notice (or telephonic notice promptly confirmed in writing) on the requested date of the Borrower in the case of a Borrowing of
Revolving Facility Loans if such Revolving Facility Loans are to be ABR Loans. Such notice (a “Notice of Borrowing”) shall specify (i) the identity of the Borrower, (ii) the aggregate principal amount of the Revolving
Facility Loans to be made, (iii) the date of the Borrowing (which shall be a Business Day) and (iv) whether the Revolving Facility Loans shall consist of ABR Loans and/or LIBOR Loans and, if the Revolving Facility Loans are to include
LIBOR Loans, the Interest Period to be initially applicable thereto. If no Interest Period is specified with respect to any requested LIBOR Borrowing, then the Borrower requesting such LIBOR Borrowing shall be deemed to have selected an Interest
Period of one month’s duration. The Administrative Agent shall promptly give each Lender written notice (or telephonic notice promptly confirmed in writing) of the proposed Borrowing of Revolving Loans, of such Lender’s proportionate share
thereof and of the other matters covered by the related Notice of Borrowing. Without in any way limiting the obligation of any Borrower to confirm in writing any notice it may give hereunder by telephone, the Administrative Agent may act prior to
receipt of written confirmation without liability upon the basis of such telephonic notice believed by the Administrative Agent in good faith to be from a Responsible Officer of the Lead Borrower. 

Section 2.04. Swingline Loans. 
 (a) General. The Administrative Agent shall subject to the terms hereof, advance Swingline Loans to the Borrowers, up to an aggregate outstanding amount of $10,000,000. Each Swingline Loan shall
constitute a Revolving Facility Loan for all purposes, except that payments thereon shall be made to the Administrative Agent for its own account. The obligation of the Borrowers to repay Swingline Loans shall be evidenced by the records of the
Administrative Agent and need not be evidenced by any promissory note. The Borrowers acknowledge that in the event that a reallocation of the Swingline Exposure of a Defaulting Lender pursuant to Section 2.19 does not fully cover the
Swingline Exposure of such Defaulting Lender, the Administrative Agent may require the Borrowers to, at its option, prepay or Cash Collateralize such remaining Swingline Exposure in respect of each outstanding Swingline Loan and will have no
obligation to issue new Swingline Loans, or to extend, renew or amend existing Swingline Loans to the extent such Swingline Exposure would exceed the commitments of the non-Defaulting Lenders, unless such remaining Swingline Exposure is Cash
Collateralized. 
 (b) Settlement. Settlement among the Revolving Facility Lenders and the Administrative Agent with
respect to Swingline Loans and other Revolving Facility Loans shall take place on a date determined from time to time by the Administrative Agent (but at least weekly), in accordance with the Settlement Report delivered by the Administrative Agent
to the Revolving Facility Lenders. Between settlement dates, the Administrative Agent may in its discretion apply payments on Revolving Facility Loans to Swingline Loans, regardless of any designation by the Borrowers or any provision herein to the
contrary. Each Revolving Facility Lender’s obligation to make settlements with the Administrative Agent is absolute and unconditional, without offset, counterclaim or other defense, and whether or not the Total

  
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Commitments have terminated, an Overadvance exists or the conditions in Section 4.01 are satisfied. If, due to any bankruptcy, insolvency, receivership or similar proceeding with
respect to a Borrower or otherwise, any Swingline Loan may not be settled among the Revolving Facility Lenders hereunder, then each Revolving Facility Lender shall be deemed to have purchased from the Administrative Agent a pro rata participation in
each unpaid Swingline Loan and shall transfer the amount of such participation to the Administrative Agent, in immediately available funds, within one Business Day after the Administrative Agent’s request therefor. Swingline Loans shall be
comprised entirely of ABR Loans. 
 (c) Provisions Related to Incremental Facility and Extended Commitments with Respect
to Swingline Loans. If the maturity date in respect of any tranche of Commitments occurs at a time when another tranche or tranches of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date
all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the
occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Facility Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.05), there shall exist sufficient
unutilized Extended Commitments or New Revolving Facility Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments or New Revolving Facility Commitments which will remain in effect after the
occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and the same shall be deemed to have been incurred solely pursuant to the relevant Extended Commitments or New
Revolving Facility Commitments, and such Swingline Loans shall not be so required to be repaid in full on such earliest maturity date. 
 Section 2.05. Revolving Letters of Credit. 
 (a) General.
Issuing Banks shall issue Revolving Letters of Credit from time to time until 5 Business Days prior to the Maturity Date, on the terms set forth herein, including the following: 

(i) Each Borrower acknowledges that Issuing Bank’s issuance of any Letter of Credit is conditioned upon Issuing
Bank’s receipt of a LC Application with respect to the requested Revolving Letter of Credit, as well as such other instruments and agreements as an Issuing Bank may customarily require for issuance of a letter of credit of similar type and
amount. Issuing Banks shall have no obligation to issue any Letter of Credit unless (i) Issuing Bank receives a LC Request and LC Application at least three Business Days prior to the requested date of issuance; (ii) each LC Condition is
satisfied; and (iii) if a Defaulting Lender exists, such Defaulting Lender or Borrowers have entered into arrangements satisfactory to Agent and Issuing Bank to eliminate any Fronting Exposure (if any) associated with such Defaulting Lender.
Prior to receipt of any such notice, Issuing Bank shall not be deemed to have knowledge of any failure of LC Conditions. 
 (ii) Revolving Letters of Credit may be requested by a Borrower to support obligations incurred to the extent not prohibited by this Agreement. The renewal

  
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or extension of any Revolving Letter of Credit shall be treated as the issuance of a new Revolving Letter of Credit, except that delivery of a new LC Application shall be required at the
discretion of Issuing Bank. 
 (iii) Borrowers assume all risks of the acts, omissions or misuses of any
Revolving Letter of Credit by the beneficiary. In connection with issuance of any Revolving Letter of Credit, none of the Administrative Agent, Issuing Bank or any Revolving Facility Lender shall be responsible for the existence, character, quality,
quantity, condition, packing, value or delivery of any goods purported to be represented by any Documents; any differences or variation in the character, quality, quantity, condition, packing, value or delivery of any goods from that expressed in
any Documents; the form, validity, sufficiency, accuracy, genuineness or legal effect of any Documents or of any endorsements thereon; the time, place, manner or order in which shipment of goods is made; partial or incomplete shipment of, or failure
to ship, any goods referred to in a Revolving Letter of Credit or Documents; any deviation from instructions, delay, default or fraud by any shipper or other Person in connection with any goods, shipment or delivery; any breach of contract between a
shipper or vendor and a Borrower; errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex, telecopy, e-mail, telephone or otherwise; errors in interpretation of technical terms; the
misapplication by a beneficiary of any Revolving Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of Issuing Bank, the Administrative Agent or any Revolving Facility Lender, including any act or
omission of a Governmental Authority. The rights and remedies of Issuing Bank under the Loan Documents shall be cumulative. Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary whose claims against Borrowers are
discharged with proceeds of any Revolving Letter of Credit (to the extent so discharged). 
 (iv) In connection
with its administration of and enforcement of rights or remedies under any Revolving Letters of Credit or LC Documents, Issuing Bank shall be entitled to act, and except in the case of it or its Affiliates’ gross negligence, willful misconduct
or material breach of a Loan Document, shall be fully protected in acting, upon any certification, documentation or communication in whatever form believed by Issuing Bank, in good faith, to be genuine and correct and to have been signed, sent or
made by a proper Person. Issuing Bank may consult with and employ legal counsel, accountants and other experts to advise it concerning its obligations, rights and remedies, and shall be entitled to act upon, and shall be fully protected in any
action taken in good faith reliance upon, any advice given by such experts. Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to Revolving Letters of Credit or LC Documents, and except in the case of it or
its Affiliates’ gross negligence, willful misconduct or material breach of a Loan Document, shall not be liable for the negligence or misconduct of agents and attorneys-in-fact. 

(b) Reimbursement; Participations: 
 (i) If Issuing Bank honors any request for payment under a Revolving Letter of Credit, Borrowers shall pay to Issuing Bank, within one Business Day

  
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(“Reimbursement Date”), the amount paid by Issuing Bank under such Revolving Letter of Credit, together with interest at the interest rate for ABR Loans from the Reimbursement
Date until payment by Borrowers. The obligation of Borrowers to reimburse Issuing Bank for any payment made under a Revolving Letter of Credit shall be absolute, unconditional, irrevocable, and joint and several, and shall be paid without regard to
any lack of validity or enforceability of any Revolving Letter of Credit or the existence of any claim, setoff, defense or other right that Borrowers may have at any time against the beneficiary. Whether or not Lead Borrower submits a Borrowing
Request, the Borrowers shall be deemed to have requested an ABR Loan in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Revolving Facility Lender agrees to fund its pro rata share of such ABR Loan whether
or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Article IV are satisfied. 
 (ii) Upon issuance of a Revolving Letter of Credit, each Revolving Facility Lender shall be deemed to have irrevocably and unconditionally purchased from Issuing Bank, without recourse or warranty, an
undivided pro rata interest and participation in all Revolving L/C Exposure relating to the Revolving Letter of Credit. If Issuing Bank makes any payment under a Revolving Letter of Credit and Borrowers do not reimburse such payment on the
Reimbursement Date, the Administrative Agent shall promptly notify the Revolving Facility Lenders and each Revolving Facility Lender shall promptly (within one Business Day) and unconditionally pay to the Administrative Agent, for the benefit of
Issuing Bank, the Revolving Facility Lender’s pro rata share of such payment. Upon request by a Revolving Facility Lender, Issuing Bank shall furnish copies of any Revolving Letters of Credit and LC Documents in its possession at such time.

 (iii) The obligation of each Revolving Facility Lender to make payments to the Administrative Agent for the
account of Issuing Bank in connection with Issuing Bank’s payment under a Revolving Letter of Credit shall be absolute, unconditional and irrevocable, not subject to any counterclaim, setoff, qualification or exception whatsoever, and shall be
made in accordance with this Agreement under all circumstances, irrespective of any lack of validity or unenforceability of any Loan Documents; any draft, certificate or other document presented under a Revolving Letter of Credit having been
determined to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or the existence of any setoff or defense that any Loan Party may have with respect to any Obligations.
Issuing Bank does not assume any responsibility for any failure or delay in performance or any breach by any Borrower or other Person of any obligations under any LC Documents. Issuing Bank does not make to Revolving Facility Lenders any express or
implied warranty, representation or guaranty with respect to the Collateral, LC Documents or any Loan Party. Issuing Bank shall not be responsible to any Revolving Facility Lender for any recitals, statements, information, representations or
warranties contained in, or for the execution, validity, genuineness, effectiveness or enforceability of any LC Documents; the validity, genuineness, enforceability, collectibility, value or sufficiency of any Collateral or the perfection of any
Lien therein; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any Loan Party. 

  
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 (iv) No Issuing Bank Indemnitee shall be liable to any Revolving Facility
Lender for any action taken or omitted to be taken in connection with any Revolving Letter of Credit or LC Document except as a result of its gross negligence or willful misconduct. Issuing Bank may refrain from taking any action with respect to a
Revolving Letter of Credit until it receives written instructions from Required Lenders. 
 (c) Cash Collateral. If any
Revolving L/C Exposure, whether or not then due or payable, shall for any reason be outstanding at any time (a) that an Event of Default exists, (b) that Availability is less than zero, or (c) after the Maturity Date, then Borrowers
shall, at Issuing Bank’s or the Administrative Agent’s request, Cash Collateralize the stated amount of all outstanding Revolving Letters of Credit and pay to Issuing Bank the amount of all other Revolving L/C Exposure. Borrowers shall, on
demand by Issuing Bank or the Administrative Agent from time to time, Cash Collateralize the Fronting Exposure of any Defaulting Lender. If Borrowers fail to provide any Cash Collateral as required hereunder, Revolving Facility Lenders may (and
shall upon direction of the Administrative Agent) advance, as Revolving Facility Loans, the amount of the Cash Collateral required (whether or not the Commitments have terminated, an Overadvance exists or the conditions in Article IV are satisfied).

 (d) Resignation/Replacement of an Issuing Bank. 

(i) Bank of America, N.A. in its capacity as Issuing Bank may resign at any time if it has resigned in its capacity as
Administrative Agent. On and after the effective date of such resignation, Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Revolving Letter of Credit, but shall continue to have all rights and other
obligations of an Issuing Bank hereunder relating to any Revolving Letter of Credit issued by it prior to such date. 
 (ii) An Issuing Bank may be replaced at any time by written agreement among the Lead Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent
shall notify the Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the applicable Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank. From and after the
effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the replaced Issuing Bank under this Agreement with respect to Revolving Letters of Credit to be issued thereafter and
(ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of
an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of such Issuing Bank under this Agreement with respect to Revolving Letters of Credit issued by it prior to
such replacement but shall not be required to issue additional Revolving Letters of Credit. 

  
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 (e) Additional Issuing Banks. From time to time, the Lead Borrower may by notice to
the Administrative Agent designate up to four Lenders that agree (in their sole discretion) to act in such capacity and are reasonably satisfactory to the Administrative Agent as Issuing Banks. Each such additional Issuing Bank shall execute a
counterpart of this Agreement upon the approval of the Administrative Agent (which approval shall not be unreasonably withheld) and shall thereafter be an Issuing Bank hereunder for all purposes. 

(f) Reporting. Each Issuing Bank shall (i) provide to the Administrative Agent copies of any LC Request no later than the
next Business Day after receipt thereof, (ii) provide the Administrative Agent with a copy of the Revolving Letter of Credit, or the amendment, renewal or extension of the Revolving Letter of Credit, as applicable, on the Business Day on which
such Issuing Bank issues, amends, renews or extends any Revolving Letter of Credit, (iii) on each Business Day on which such Issuing Bank makes any Revolving L/C Disbursement, advise the Administrative Agent of the date of such Revolving L/C
Disbursement and the amount of such Revolving L/C Disbursement and (iv) on any other Business Day, furnish the Administrative Agent with such other information as the Administrative Agent shall reasonably request. If requested by any Lender,
the Administrative Agent shall provide copies to such Lender of the documents referred to in clause (ii) of the preceding sentence. 
 Section 2.06. Funding of Borrowings. 
 (a) Each Lender shall make each
Loan to be made by it to the Borrowers hereunder on the proposed date thereof by wire transfer of immediately available funds at the time specified by the Administrative Agent. Swingline Loans shall not be governed by this Section 2.06
but shall be made as provided in Section 2.04. The Administrative Agent will make such Loans available to the Borrowers by promptly crediting the amounts so received, in like funds, to such account of the Lead Borrower as is designated
in the Borrowing Request; provided that (i) Loans (other than Swingline Loans) made to finance the reimbursement of a Revolving L/C Disbursement and reimbursements as provided in Section 2.05 shall be remitted by the
Administrative Agent to the applicable Issuing Bank and (ii) Swingline Loans made to finance the reimbursement of a Revolving L/C Disbursement and reimbursements as provided in Section 2.05 shall be remitted by the Swingline
Lender to the applicable Issuing Bank, and the Issuing Bank shall promptly confirm receipt to the Administrative Agent. 
 (b)
Unless the Administrative Agent shall have received notice from a Lender prior to the proposed time of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative
Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrowers 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 Borrowers severally agree to pay to the Administrative Agent forthwith on demand (without
duplication) such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at (i) in the case of such
Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrowers the interest rate applicable to
LIBOR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 

  
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 Section 2.07. Interest Elections. 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a LIBOR Borrowing,
shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Lead Borrower may elect, in the case of a LIBOR Borrowing, Interest Periods therefor, all as provided in this Section 2.07. 

(b) To make an election pursuant to this Section 2.07, the Lead Borrower shall notify the Administrative Agent of such
election in writing (by hand delivery or telecopy) by the time that a Borrowing Request would be required under Section 2.03 if the Lead Borrower were requesting a Borrowing of the Type resulting from such election to be made on the
effective date of such election. Each such Interest Election Request shall be irrevocable and signed by such Borrower. 
 (c)
Each Interest Election Request shall specify the following information in compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each
resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 

(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
and 
 (iii) the Interest Period to be applicable thereto after giving effect to such election. 

If any such Interest Election Request made by the Lead Borrower does not specify an Interest Period, then the Lead Borrower shall be
deemed to have selected an Interest Period of one month’s duration. 
 (d) Promptly following receipt of an Interest
Election Request, the Administrative Agent shall advise each Lender to which such Interest Election Request relates of the details thereof and of such Lender’s portion of each resulting Borrowing. 

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

  
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 Section 2.08. Termination and Reduction of Commitments. 

(a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. Revolver Facility Loans shall be due and payable
in full on the Maturity Date, unless payment is sooner required hereunder. Revolving Facility Loans may be prepaid from time to time, without penalty or premium. 
 (b) The Borrowers may at any time terminate, or from time to time reduce, the Commitments under any Facility; provided that (i) each reduction of the Commitments under any Facility shall be in
an amount that is an integral multiple of U.S.$500,000 and not less than U.S.$2.0 million (or, if less, the remaining amount of the Commitments), and (ii) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to
any concurrent prepayment of the Revolving Facility Loans in accordance with Section 2.11, the Revolving Facility Credit Exposure would exceed the total Commitments. 

(c) The Lead Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph
(b) of this Section 2.08 at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the
Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Lead Borrower pursuant to this Section 2.08 shall be irrevocable; provided that a notice of termination of the
Commitments delivered by the Lead Borrower may state that such notice is conditioned upon the effectiveness of other Indebtedness or credit facilities, in which case such notice may be revoked by the Lead Borrower (by notice to the Administrative
Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments under any Facility shall be made ratably among the Lenders
in accordance with their respective Commitments under such Facility. 
 Section 2.09. Repayment of Loans; Evidence of
Debt. 
 (a) The Borrowers hereby, jointly and severally, unconditionally promise to pay (i) to the Administrative Agent
for the account of each Revolving Facility Lender the then unpaid principal amount (and other amounts owing hereunder, including interest, in respect) of each Revolving Facility Loan to the Borrowers on the Maturity Date, and (ii) to the
Swingline Lender the then unpaid principal amount (and other amounts owing hereunder, including interest, in respect) of each Swingline Loan made to such Borrower in accordance with Section 2.04. 

(b) The Borrowers hereby, jointly and severally, unconditionally promise to pay to the Administrative Agent for the account of the
applicable Lenders on the relevant maturity date for any Extended Revolving Facility Loans, all then outstanding Extended Revolving Facility Loans. 
 (c) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender,
including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

  
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 (d) The Administrative Agent (or its agents or sub-agent appointed by it) shall maintain the
Register, as set forth in Section 9.04(b)(iii), in which it shall record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or
interest due and payable or to become due and payable from the Borrowers to each Lender hereunder, and (iii) any amount received by such Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

 (e) The entries made in the accounts maintained pursuant to paragraph (c) or (d) of this Section 2.09
shall be prima facie evidence absent manifest error of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not
in any manner affect the obligation of any Borrower to repay the Loans made to the Borrowers in accordance with the terms of this Agreement. 
 (f) Any Lender may request that Loans made by it to the Borrowers be evidenced by a promissory note substantially in the form of Exhibit C. In such event, the Borrowers shall prepare, execute and
deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such
promissory note and interest thereon shall at all times (including, to the extent requested by any assignee, after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the order of
the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

Section 2.10. Application of Payment in the Dominion Accounts. Upon delivery of a written notice to the Lead Borrower from
the Administrative Agent that specifies that “cash dominion” is being instituted, the ledger balance in the Dominion Account as of the end of a Business Day shall be applied to reduce the outstanding Secured Obligations at the beginning of
the next Business Day during a Cash Dominion Event. If, as a result of such application, a credit balance exists, the balance shall accrue interest in favor of the Borrowers and shall be made available to the Borrowers as long as no Event of Default
under Section 7.01(b), (c), (i) or (j) is continuing. During a Cash Dominion Event, each Borrower irrevocably waives the right to direct the application of any payments or Collateral proceeds in the Dominion Account or any
Deposit Account subject to a Deposit Account Control Agreement, and agrees that the Administrative Agent shall have the continuing, exclusive right to apply and reapply the same against the outstanding Secured Obligations, in accordance with the
terms of this Agreement and the other Loan Documents. 
 Section 2.11. Prepayment of Loans. 

(a) The Borrowers shall have the right at any time and from time to time to prepay Borrowings by such Borrower in whole or in part,
without premium or penalty (but subject to Section 2.16), in an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum or, if less, the amount outstanding, in accordance
with Section 2.08. 

  
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 (b) If at any time, the sum of aggregate principal amount of all Revolving Facility Loans
plus the aggregate principal amount of all Revolving Letters of Credit then outstanding has exceeded Availability, the Borrowers shall, as soon as practicable and in any event within one Business Day, prepay the outstanding principal amount
of any Revolving Facility Loans owing by the Borrowers such that the aggregate amount so prepaid by the Borrowers and cash collateral deposited in an account with the Administrative Agent (or an account in the name of the Administrative Agent with
another institution designated by the Administrative Agent) pursuant to Section 2.05(c) shall be sufficient to reduce such sum to an amount not to exceed 100% of Availability on such date together with any interest accrued to the date of
such prepayment on the aggregate principal amount of Revolving Facility Loans prepaid. The Administrative Agent shall give prompt notice of any prepayment required under this Section 2.11(b) to the Lead Borrower and the Lenders.

 (c) If during the Cash Dominion Period, Holdings or a Borrower receives proceeds of any business interruption insurance, the
Borrowers shall, as soon as practicable and in any event within one Business Day of receipt, prepay with any net cash proceeds of such business interruption insurance, Revolving Facility Loans owing by the Borrowers without any permanent reduction
in commitments under the Revolving Facility. 
 (d) [reserved]. 

(e) In the event of any termination of all the Commitments, the Borrowers shall, on the date of such termination, repay or prepay all its
outstanding Revolving Loans and all outstanding Swingline Loans and terminate all its outstanding Revolving Letters of Credit and/or Cash Collateralize such Revolving Letters of Credit in accordance with Section 2.05(c). If as a result
of any partial reduction of the Commitments, the aggregate Revolving Facility Exposure would exceed the aggregate Commitments of all Revolving Facility Lenders after giving effect thereto, then the Borrowers shall, on the date of such reduction,
repay or prepay their respective Borrowings under Revolving Loans or Swingline Loans (or a combination thereof) and/or Cash Collateralize Revolving Letters of Credit in an amount sufficient to eliminate such excess. 

Section 2.12. Fees. 
 (a) The Borrowers agree to pay to each Lender, without duplication of any other amounts paid to such Lender, (other than any Defaulting Lender), through the Administrative Agent, in arrears, on the first
day of each January, April, July and October and on the date on which the Commitments of all the Lenders shall be terminated, a commitment fee (a “Commitment Fee”) for the immediately preceding fiscal quarter, in an amount equal to
the product of (i) the Applicable Commitment Fee Percentage and (ii) Quarterly Average Unused Facility Balance for such immediately preceding fiscal quarter. 
 All Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. For the purpose of calculating any Lender’s Commitment Fee, the outstanding Swingline
Loans during the period for which such Lender’s Commitment Fee is calculated shall be deemed to be zero. The Commitment Fee due to each Lender shall begin to accrue on the Closing Date and shall cease to accrue on the date on which the last of
the Commitments of such Lender shall be terminated as provided herein. 

  
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 (b) The Borrowers from time to time agree to pay to each Revolving Facility Lender, (other
than any Defaulting Lender), through the Administrative Agent, in arrears, on the first day of each January, April, July and October and on the date on which the Commitments of all the Lenders shall be terminated, a fee (a “Revolving L/C
Participation Fee”) for the immediately preceding fiscal quarter, on such Lender’s Revolving Facility Percentage of the daily aggregate Revolving L/C Exposure (excluding the portion thereof attributable to unreimbursed Revolving L/C
Disbursements), during the preceding quarter (or shorter period commencing with the Closing Date and ending with the Maturity Date or the date on which the Commitments shall be terminated) at the rate per annum equal to the Applicable Margin
for LIBOR Revolving Facility Borrowings effective for each day in such period. 
 (c) The Borrowers from time to time agree to
pay to each Issuing Bank, for its own account, (x) on the first day of each January, April, July and October for the immediately preceding fiscal quarter and on the date on which the Commitments of all the Lenders shall be terminated, a
fronting fee in an amount equal to 0.125% per annum of the daily average stated amount of such Revolving Letter of Credit for the immediately preceding fiscal quarter (or such other amount as the Lead Borrower and any Issuing Bank shall,
in their sole discretion, agree in writing), in respect of each Revolving Letter of Credit issued by such Issuing Bank for the period from and including the date of issuance of such Revolving Letter of Credit to and including the termination of such
Revolving Letter of Credit, plus (y) in connection with the issuance, amendment or transfer of any such Revolving Letter of Credit or any Revolving L/C Disbursement thereunder, such Issuing Bank’s customary documentary and
processing charges (collectively, “Issuing Bank Fees”). All Revolving L/C Participation Fees and Issuing Bank Fees that are payable pursuant to (ii) above on a per annum basis shall be computed on the basis of the actual
number of days elapsed in a year of 360 days. Issuing Bank Fees that are customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit shall be paid as and when incurred
on demand. 
 (d) The Borrowers agree to pay to the Administrative Agent and the Collateral Agent, for the account of the
Administrative Agent and the Collateral Agent, the fees set forth in the Fee Letter, as amended, restated, supplemented or otherwise modified from time to time, at the times specified therein (the “Agent Fees”). 

(e) All Fees shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, if and as
appropriate, among the Lenders, except that Issuing Bank Fees shall be paid directly to the applicable Issuing Banks. Once paid, none of the Fees shall be refundable under any circumstances. 

Section 2.13. Interest. 
 (a) The Borrowers shall pay interest on the unpaid principal amount of each ABR Loan made to the Borrowers at the Alternate Base Rate plus the Applicable Margin. 

(b) The Borrowers shall pay interest on the unpaid principal amount of each LIBOR Loan made to the Borrowers at the LIBOR Rate for the
Interest Period in effect for such LIBOR Loan plus the Applicable Margin. 

  
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 (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any Fees
or other amount payable by the Borrowers hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, the Borrowers shall pay interest on such overdue amount, after as well as before judgment, at a rate per annum
equal to (x) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section 2.13 or (y) in the case of any other amount, 2%
plus the rate applicable to ABR Loans; provided that this paragraph (c) shall not apply to any Default or Event of Default that has been waived by the Lenders pursuant to Section 9.08. 

(d) Accrued interest on each Loan shall be payable by the Borrowers in arrears on each Interest Payment Date for such Loan and, in the
case of Revolving Facility Loans, upon termination of the Commitments; provided that interest accrued pursuant to paragraph (c) of this Section 2.13 shall be payable on demand. In the event of any repayment or prepayment of
any Loan (other than Swingline Loans), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. 
 (e) All computations of interest shall be made by the Administrative Agent taking into account the actual number of days occurring in the period for which such interest is payable pursuant to this
Section 2.13, on the basis of a year of 360 days (or in the case of any interest payable in respect of the Alternate Base Rate (other than clause (iii) thereof), 365 or 366 days, as applicable). 

Section 2.14. Alternate Rate of Interest. 

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

(i) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and
reasonable means do not exist for ascertaining the LIBOR Rate for such Interest Period; or 
 (ii) the
Administrative Agent is advised by the Required Lenders or the Majority Lenders under the Revolving Facility that the LIBOR Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their
Loans included in such Borrowing for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Lead Borrower and
the Lenders by telephone (confirmed by telecopy) as promptly as practicable thereafter and, until the Administrative Agent notifies the Lead Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, the rate of
interest per annum on each Lender’s share of the affected Borrowings shall be the rate per annum which is the aggregate of (x) the Applicable Margin and (y) the rate notified to the Administrative Agent by such Lender as
soon as practicable, and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage per annum the cost to that Lender of funding its participation in that Borrowing from
whatever source it may reasonably select. 
 (b) If any of the circumstances described in paragraph (a) occur and the
Administrative Agent or the Lead Borrower so requests, the Administrative Agent and the Lead Borrower shall enter into negotiations (for a period of not more than 30 days) with a view to 

  
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agreeing on a substitute basis for determining the appropriate rate of interest applicable to affected Borrowings. Any alternative basis agreed pursuant to the foregoing sentence will, subject to
the consent of the Majority Lenders under each affected Facility, be binding on all Lenders and the Loan Parties. 

Section 2.15. Increased Costs. 
 (a) If any Change in Law shall: 
 (i) impose, modify or deem
applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the LIBOR) or Issuing Bank; or 

(ii) impose on any Lender or Issuing Bank or the London interbank market any other condition affecting this Agreement or
LIBOR Loans made by such Lender or any Revolving Letter of Credit or participation therein (except, in each case (A) for Indemnified Taxes and Excluded Taxes (B) for changes in the rate of tax on the overall rate of net income of such
Lender); 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any LIBOR Loan (or of
maintaining its obligation to make any such Loan) to a Borrower or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Revolving Letter of Credit or to reduce the amount of any sum received or
receivable by such Lender or Issuing Bank hereunder (whether of principal, interest or otherwise) (except, in each case (A) for Indemnified Taxes and Excluded Taxes and (B) for changes in the rate of tax on the overall rate of net income
of such Lender), then the Borrowers will pay to such Lender or Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or Issuing Bank, as applicable, for such additional costs incurred or reduction suffered.

 (b) If any Lender or Issuing Bank determines that any Change in Law regarding capital requirements has or would have the
effect of reducing the rate of return on such Lender’s or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement or any of the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy), then from
time to time the Borrowers shall pay to such Lender or such Issuing Bank, as applicable, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any
such reduction. 
 (c) A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate
such Lender or Issuing Bank or its holding company, as applicable, as specified in paragraph (a) or (b) of this Section 2.15 shall be delivered to the Lead Borrower and 

  
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shall be conclusive absent manifest error. The Borrowers shall pay such Lender or Issuing Bank, as applicable, the amount shown as due on any such certificate within 10 days after receipt
thereof. 
 (d) Promptly after any Lender or any Issuing Bank has determined that it will make a request for increased
compensation pursuant to this Section 2.15, such Lender or Issuing Bank shall notify the Lead Borrower thereof. Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section 2.15
shall not constitute a waiver of such Lender’s or Issuing Bank’s right to demand such compensation; provided that the Borrowers shall not be required to compensate a Lender or an Issuing Bank pursuant to this
Section 2.15 for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or Issuing Bank, as applicable, notifies such Borrower of the Change in Law giving rise to such increased costs or
reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period
referred to above shall be extended to include the period of retroactive effect thereof. 
 Section 2.16. Break Funding
Payments. In the event of (a) the payment of any principal of any LIBOR Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any LIBOR Loan other
than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any LIBOR Loan on the date specified in any notice delivered pursuant hereto or (d) the assignment of any LIBOR Loan
other than on the last day of the Interest Period applicable thereto as a result of a request by a Borrower pursuant to Section 2.19, then, in any such event, the Borrowers shall compensate each Lender for the loss, cost and expense
attributable to such event. In the case of a LIBOR Loan, such loss, cost or expense to any Lender shall be deemed to be the amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the
principal amount of such Loan had such event not occurred, at the LIBOR Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a
failure to borrow, convert or continue a LIBOR Loan, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which
such Lender would bid were it to bid, at the commencement of such period, for deposits in the U.S. Dollar Equivalent of a comparable amount and period from other banks in the LIBOR market. A certificate of any Lender setting forth any amount or
amounts that such Lender is entitled to receive pursuant to this Section 2.16 shall be delivered to the Lead Borrower and shall be conclusive absent manifest error. The Borrowers shall pay such Lender the amount shown as due on any such
certificate within 10 days after receipt thereof. 
 Section 2.17. Taxes. 

(a) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made free and clear of and
without deduction for any Taxes unless required by applicable law. If a Loan Party or other applicable withholding agent shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable by the
applicable Loan Party shall be increased as necessary so that after making all 

  
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required deductions (including deductions applicable to additional sums payable under this Section 2.17) any Administrative Agent, Lender or Issuing Bank, as applicable, receives an
amount equal to the sum it would have received had no such deductions for Indemnified Taxes and Other Taxes been made, (ii) such Loan Party or other applicable withholding agent shall make such deductions and (iii) such Loan Party or other
applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) In addition, each Loan Party shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c) Each Loan Party shall indemnify each Administrative Agent, each Lender and each Issuing Bank, within 30 days after written
demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (other than any penalty resulting from gross negligence or willful misconduct of such Administrative Agent, Lender or Issuing Bank and without duplication of any amounts
indemnified under Section 2.17(a)) paid or payable by such Administrative Agent, Lender or Issuing Bank, as applicable, on or with respect to any payment by or on account of any obligation of any Loan Party under any Loan Document
(including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) and any reasonable expenses arising therefrom or with respect thereto whether or not such Indemnified Taxes or
Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided that a certificate as to the amount of such payment or liability and setting forth in reasonable detail the basis and calculation for
such payment or liability is delivered to the Lead Borrower by a Lender or an Issuing Bank, or by the Administrative Agent on its own behalf, on behalf of another Administrative Agent or on behalf of a Lender or an Issuing Bank, which certificate
shall be conclusive absent manifest error of the Lender, the Issuing Bank or the Administrative Agent. 
 (d) As soon as
practicable after any payment of Indemnified Taxes or Other Taxes by a Loan Party to a Governmental Authority, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Each Lender or Issuing Bank shall, at such times as are reasonably requested by the Lead Borrower or the Administrative Agent, provide the Lead Borrower and the Administrative Agent with any
documentation prescribed by law or reasonably requested by the Lead Borrower or the Administrative Agent certifying as to any entitlement of such Lender or Issuing Bank to an exemption from, or reduction in, withholding tax with respect to any
payments to be made to such Lender or Issuing Bank under the Loan Documents. Each such Lender or Issuing Bank shall, whenever a lapse in time or change in circumstances renders such documentation obsolete, expired or inaccurate in any material
respect, deliver promptly to the Lead Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Lead Borrower or the Administrative Agent) or promptly notify the
Lead Borrower and the Administrative Agent of its inability to do so. 

  
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 (i) Without limiting the foregoing: 

(A) Each Lender or Issuing Bank that is a United States person (as defined in Section 7701(a)(30) of the Code) shall
deliver to the Lead Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement two properly completed and duly signed original copies of Internal Revenue Service Form W-9 certifying that such Lender or
Issuing Bank is exempt from U.S. federal backup withholding. 
 (B) Each Non-U.S. Lender shall deliver to the
Lead Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the request of the Lead Borrower or the Administrative Agent) whichever of the following is
applicable: 
  

	 	(1)	two properly completed and duly signed original copies of Internal Revenue Service Form W-8BEN (or any successor forms) claiming eligibility for the benefits of an
income tax treaty to which the United States is a party, and such other documentation as required under the Code, 

  

	 	(2)	two properly completed and duly signed original copies of Internal Revenue Service Form W-8ECI (or any successor forms), 

 

	 	(3)	in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (A) a certificate
substantially in the form of Exhibit D (any such certificate a “United States Tax Compliance Certificate”) and (B) two properly completed and duly signed original copies of Internal Revenue Service Form W-8BEN (or
any successor forms), 

  

	 	(4)	to the extent a Non-U.S. Lender is not the beneficial owner (for example, where the Non-U.S. Lender is a partnership or a participating Lender), Internal Revenue
Service Form W-8IMY (or any successor forms) of the Non-U.S. Lender, accompanied by a Form W-8ECI, W-8BEN, United States Tax Compliance Certificate, Form W-9, Form W-8IMY (or any successor forms) or any other required information from each
beneficial owner, as applicable (provided that, if one or more beneficial owners are claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such Non-U.S. Lender on behalf of such beneficial
owner), or 

  

	 	(5)	two properly completed and duly signed original copies of any other form prescribed by applicable U.S. federal income tax laws (including the Treasury Regulations) as a
basis for claiming a complete exemption from, or a reduction in, United States federal withholding tax on any payments to such Lender under the Loan Documents. 

  
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 (C) If a payment made to a Lender or Issuing Bank under any Loan Document
would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender or Issuing Bank 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 or Issuing Bank shall deliver to the Lead Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Lead 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 Lead Borrower or the Administrative Agent as may be necessary for the
Lead Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender or Issuing Bank has complied with such Lender’s or Issuing Bank’s obligations under FATCA or to determine the amount
to deduct and withhold from such payment. Solely for purposes of this clause (C), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 Each applicable Lender or Issuing Bank shall deliver to the Lead Borrower and the Administrative Agent two further original copies of any previously delivered form or certification (or any applicable
successor form) on or before the date that any such form or certification expires or becomes obsolete or inaccurate and promptly after the occurrence of any event requiring a change in the most recent form previously delivered by it to the Lead
Borrower or the Administrative Agent, or promptly notify the Lead Borrower and the Administrative Agent that it is unable to do so. Each applicable Lender or Issuing Bank shall promptly notify the Lead Borrower and the Administrative Agent at any
time it determines that it is no longer in a position to provide any previously delivered form or certification to the Lead Borrower or the Administrative Agent, 
 Notwithstanding any other provision of this Section 2.17(e), a Lender or Issuing Bank shall not be required to deliver any form that such Lender or Issuing Bank is not legally eligible to
deliver. 
 (f) If the Administrative Agent, Lender or Issuing Bank determines, in good faith and in its sole discretion, that
it has received a refund of Indemnified Taxes or Other Taxes as to which it has been indemnified by a Loan Party or with respect to which a Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such
refund to such Loan Party (but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of
all out-of-pocket expenses of the Administrative Agent, Lender or Issuing Bank (including any Taxes imposed with respect to such refund) as is determined by the Administrative Agent, Lender or Issuing Bank in good faith and in its sole discretion,
and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that such Loan Party, upon the request of the Administrative

  
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Agent, Lender or Issuing Bank, agrees to repay as soon as reasonably practicable the amount paid over to such Loan Party (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, Lender or Issuing Bank in the event such Administrative Agent, Lender or Issuing Bank is required to repay such refund to such Governmental Authority. Notwithstanding anything to the
contrary in this paragraph (f), in no event will the Administrative Agent, Lender or Issuing Bank be required to pay any amount to any Loan Party pursuant to this paragraph (f), the payment of which would place the Administrative Agent, Lender or
Issuing Bank in a less favorable net after-Tax position than the Loan 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 the Administrative Agent, Lender or Issuing Bank to make available its Tax returns (or any other information relating to its Taxes
which it deems confidential) to the Loan Parties or any other Person. 
 Section 2.18. Payments Generally; Pro Rata
Treatment; Sharing of Set-offs. 
 (a) Unless otherwise specified, each Borrower shall make each payment required to be made
by it hereunder (whether of principal, interest, fees or reimbursement of Revolving L/C Disbursements, or of amounts payable under Sections 2.15, 2.16 or 2.17, or otherwise) prior to the time reasonably specified by the
Administrative Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment, on the date when due, in immediately available funds, without condition or deduction for any defense, recoupment,
set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such
payments shall be made to the Administrative Agent to the applicable account designated to the Borrowers by the Administrative Agent, except payments to be made directly to the applicable Issuing Bank or the applicable Swingline Lender as expressly
provided herein and except that payments pursuant to Sections 2.15, 2.17, 2.17 and 9.05 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by
it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business
Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder of (i) principal or interest in respect of any Loan or (ii) Revolving L/C Reimbursement
Obligations shall in each case be made in the currency in which such Loan was made or such Revolving Letter of Credit was issued. All payments of other amounts due hereunder or under any other Loan Document shall be made in U.S. Dollars. Any payment
required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if such Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the
regulations or operating procedures of the clearing or settlement system used by such Administrative Agent to make such payment. 
 (b) If at any time insufficient funds are received by and available to the Administrative Agent from the Borrowers to pay fully all amounts of principal, unreimbursed Revolving L/C Disbursements, interest
and fees then due from such Borrower hereunder, such 

  
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funds shall be applied (i) first, towards payment of any Agent Fees then due from the Borrowers hereunder, ratably among the parties entitled thereto, (ii) second towards
payment of interest and fees then due from the Borrowers hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (iii) third, towards payment of principal
and unreimbursed Revolving L/C Disbursements then due from the Borrowers hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed Revolving L/C Disbursements then due to such parties.

 (c) If any Lender shall, by exercising any right of set-off, consolidation, banker’s lien or counterclaim, through the
application of any proceeds of Collateral or otherwise, obtain payment in respect of any principal of or Revolving Facility Loans or participations in Revolving L/C Disbursements or Swingline Loans resulting in such Lender receiving payment of a
greater proportion of the aggregate amount of its Revolving Facility Loans and participations in Revolving L/C Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving
such greater proportion shall purchase (for cash at face value) participations in the Revolving Facility Loans and participations in Revolving L/C Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all
such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Facility Loans and participations in Revolving L/C Disbursements and Swingline Loans;
provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery,
without interest, and (ii) the provisions of this paragraph (c) shall not be construed to apply to any payment made by the Borrowers pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender
as consideration for the assignment of or sale of a participation in any of its Loans or participations in Revolving L/C Disbursements to any assignee or participant, other than to a Borrower or any Loan Party (as to which the provisions of this
paragraph (c) shall apply). The Borrower consent to the foregoing and agree, 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
Borrowers rights of set-off 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. 

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

  
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 (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.04, 2.05 or (e), 2.06 or 2.18, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the
Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 Section 2.19. Mitigation Obligations; Replacement of Lenders; Defaulting Lenders. 
 (a) If any Lender requests compensation under Section 2.15, or if the Borrowers are required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or Affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or Section 2.17, as applicable, in the
future and (ii) would not subject such Lender to any material unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender in any material respect. The Borrowers hereby agree to pay all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment. 
 (b) If any Lender requests compensation under
Section 2.15, or if the Borrowers are required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.19, or is a Defaulting Lender, then the Borrowers
may, at their 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 Section 9.04,
all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment)); provided that (i) the Borrowers shall have
received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in
Revolving L/C Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or such Loan Party
(in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.17 or payments required to be made pursuant to Section 2.17, such assignment will
result in a reduction in such compensation or payments. Nothing in this Section 2.19 shall be deemed to prejudice any rights that any Loan Party may have against any Lender that is a Defaulting Lender. 

(c) If any Lender (such Lender, a “Non-Consenting Lender”) has failed to consent to a proposed amendment, waiver,
discharge or termination which pursuant to the terms of Section 9.08 requires the consent of all of the Lenders affected and with respect to which the Required Lenders shall have granted their consent, then provided no Event of
Default then exists, the Borrowers shall have the right (unless such Non-Consenting Lender grants such consent) to replace such Non- Consenting Lender by requiring such Non-Consenting Lender to assign its Loans and Commitments hereunder to one or
more assignees reasonably acceptable to the Administrative Agent, provided that: (i) all Obligations of the Borrowers under the Loan 

  
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Documents owing to such Non-Consenting Lender being replaced shall be paid in full to such Non-Consenting Lender concurrently with such assignment, and (ii) the replacement Lender shall
purchase the foregoing by paying to such Non- Consenting Lender a price equal to the principal amount thereof plus accrued and unpaid interest or fees thereon. In connection with any such assignment the Borrower, Administrative Agent, such
Non-Consenting Lender and the replacement Lender shall otherwise comply with Section 9.04. 
 (d) If any Swingline
Loans or LC Exposure exists or Protective Advance is outstanding at the time a Lender becomes a Defaulting Lender then: 
 (i) all or any part of such Swingline Loans, Revolving L/C Exposure, Protective Advances and Overadvance shall be reallocated among the non-Defaulting Lenders in accordance with their respective
Applicable Percentages but only to the extent the sum of all non-Defaulting Lenders’ Revolving Facility Credit Exposures plus the amount of the Applicable Percentage of the Defaulting Lender (determined immediately prior to its being a
Defaulting Lender) of Swingline Loans, Overadvance and Protective Advances that it has funded and are outstanding as of the date that it became a Defaulting Lender plus the Defaulting Lender’s Revolving L/C Exposure does not exceed the total of
all non-Defaulting Lenders’ Commitments; or 
 (ii) if the reallocation described in paragraph
(i) above cannot, or can only partially, be effected, the Borrowers shall, without prejudice to any other right or remedy available to them hereunder or under law, within two Business Days following notice by the Administrative Agent, cash
collateralize 100.0% of such Defaulting Lender’s Revolving L/C Exposure and any obligations of such Defaulting Lender to fund participations in any Swingline Loan, Overadvance or Protective Advance (after giving effect to any partial
reallocation pursuant to paragraph (i) above and any cash collateral provided by the Defaulting Lender) or make other arrangements reasonably satisfactory to the Administrative Agent and to the applicable Issuing Bank and/or Swingline
Lender with respect to such Revolving L/C Exposure and obligations to fund participations. Cash collateral (or the appropriate portion thereof) provided to reduce Revolving L/C Exposure or other obligations shall be released promptly following
(A) the elimination of the applicable Revolving L/C 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
clauses (a), (b) and (c) of this Section 2.19)) or (B) the Administrative Agent’s good faith determination that there exists excess cash collateral. 

(iii) if the Revolving L/C Exposure of the non-Defaulting Lenders are reallocated pursuant to this
Section 2.19(d), then the fees payable to the Lenders pursuant to Sections 2.12, as the case may be, shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; or 

(iv) if any Defaulting Lender’s Revolving L/C Exposure is not cash collateralized, prepaid or reallocated pursuant to
this Section 2.19(d), then, without prejudice to any rights or remedies of the applicable Issuing Bank or any Lender hereunder, all letter of credit fees payable under Section 2.12 with respect to such Defaulting
Lender’s Revolving L/C Exposure shall be payable to the applicable Issuing Bank until such Defaulting Lender’s Revolving L/C Exposure is Cash collateralized. 

  
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 (e) So long as any Lender is Defaulting Lender, the Swingline Lender shall not be required
to fund any Swingline Loan and no Issuing Bank shall be required to issue, extend, create, incur, amend or increase any Revolving Letter of Credit unless it is reasonably satisfied that the related exposure will be 100.0% covered by the Commitments
of the non-Defaulting Lenders and/or cash collateral will be provided by the Borrowers in accordance with Section 2.19(d), and participating interests in any such newly issued, extended or created Revolving Letter of Credit or newly made
Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.19(d)(i) (and Defaulting Lenders shall not participate therein). 

(f) In the event that the Administrative Agent, the Borrowers, the Issuing Banks and the Swingline Lender each agree that a Defaulting
Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Applicable Percentage of Swingline Loans, Overadvance and Protective Advances and Revolving L/C Exposure of the Lenders shall be readjusted to
reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) or participations in Loans as the Administrative Agent shall determine may
be necessary in order for such Lender to hold such Loans or participations in accordance with its Applicable Percentage; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of
the Borrowers 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. 

Section 2.20. Increase in Commitments. 
 (a) New Commitments. At any time following the Closing Date, the Lead Borrower may by written notice to the Administrative Agent elect to request an increase to the existing Commitments (any such
increase, whether or not implemented through a separate tranche, a “Incremental Facility” and commitments thereunder, the “New Revolving Facility Commitments”), by an amount not in excess of $150,000,000 in the
aggregate (the “Maximum Incremental Amount”) or a lesser amount in integral multiples of $5,000,000. Such notice shall specify the date (an “Increased Amount Date”) on which the Lead Borrower proposes that the New
Revolving Facility Commitments shall be made available, which shall be a date not less than 5 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter period as reasonably approved by the
Administrative Agent). The New Revolving Facility Commitments shall be provided by Revolving Facility Lenders, or other financial institution reasonably acceptable to the Administrative Agent (each, a “New Revolving Facility
Lender”) to whom the New Revolving Facility Commitments have been (in accordance with the prior sentence) allocated and the amounts of such allocations; provided that any Lender approached to provide all or a portion of the New
Revolving Facility Commitments may elect or decline, in its sole discretion, to provide a New Revolving Facility Commitment. Such New Revolving Facility Commitments shall become effective as of such Increased Amount Date;

  
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provided that (i) no Default or Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Revolving Facility Commitments and Loans;
(ii) the representations and warranties contained in Article III and the other Loan Documents shall be true and correct in all material respects on and as of the Increased Amount 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; (iii) the New Revolving Facility Commitments if drawn shall count against the Borrowing
Base; (iv) any Incremental Facility will mature no earlier than, and will require no scheduled amortization or differing mandatory commitment reduction prior to, the then maturity of the Revolving Facility, (v) any Incremental Facility
shall be on terms and pursuant to documentation applicable to and consistent with the Revolving Facility, (vi) no Incremental Facility shall be secured by any of the Collateral other than on a basis pari passu with or junior to the
Revolving Facility, (vii) the guarantors under any Incremental Facility shall be limited to the Guarantors under the Revolving Facility and (viii) such increase in the Commitments shall be evidenced by one or more joinder agreements
executed and delivered to Administrative Agent by each New Revolving Facility Lender; provided that, to the extent such terms and documentation are not consistent with the Revolving Facility (except to the extent permitted by the proviso
below), such other terms shall be reasonably satisfactory to the Administrative Agent; provided, further, that in the event that the interest rate margins for any Incremental Facility are more than 0.50% per annum greater than the
applicable interest rate margin under the Revolving Facility, the applicable interest rate margin under the Revolving Facility shall be increased to the extent necessary so that the interest rate margins under the Revolving Facility are equal to the
interest rate margins for such Incremental Facility minus 0.50% per annum. 
 (b) On any Increased Amount
Date on which New Revolving Facility Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each of the existing Revolving Facility Lenders shall assign to each of the New Revolving Facility Lenders,
and each of the New Revolving Facility Lenders shall purchase from each of the existing Revolving Facility Lenders, at the principal amount thereof, such interests in the outstanding Revolving Facility Loans and participations in Revolving Letters
of Credit and Swingline Loans outstanding on such Increased Amount Date that will result in, after giving effect to all such assignments and purchases, such Revolving Facility Loans and participations in Revolving Letters of Credit and Swingline
Loans being held by existing Revolving Facility Lenders and New Revolving Facility Lenders ratably in accordance with their Revolving Facility Commitments after giving effect to the addition of such New Revolving Facility Commitments to the
Revolving Facility Commitments, (ii) each New Revolving Facility Commitment shall be deemed for all purposes a Revolving Facility Commitment and each Loan made thereunder shall be deemed, for all purposes, a Revolving Facility Loan and have the
same terms as any existing Revolving Facility Loan and (iii) each New Revolving Facility Lender shall become a Lender with respect to the Revolving Facility Commitments and all matters relating thereto. 

(c) The Administrative Agent shall notify the Revolving Facility Lenders promptly upon receipt of the Lead Borrower’s notice of an
Increased Amount Date and, in respect thereof, the New Revolving Facility Commitments and the New Revolving Facility Lenders. 

  
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 Section 2.21. Designated Borrowers; Lead Borrower. 

(a) (i) The Subsidiaries of the Lead Borrower listed on Schedule I (effective as of the Closing Date) and (ii) any other
Wholly Owned Domestic Subsidiary of the Lead Borrower that executes a counterpart to this Agreement and to any other Loan Document as a Borrower, shall be “Designated Borrowers” hereunder. 

(b) Each Borrower hereby designates the Lead Borrower as its representative and agent for all purposes under the Loan Documents,
including requests for Revolver Facility Loans, Swingline Loans and Letters of Credit, designation of interest rates, delivery or receipt of communications, preparation and delivery of Borrowing Base and financial reports, receipt and payment of
Obligations, requests for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants), and all other dealings with the Administrative Agent, the Issuing Bank or any Revolving
Facility Lender. The Lead Borrower hereby accepts such appointment. The Administrative Agent and the Lenders shall be entitled to rely upon, any notice or communication (including any Borrowing Request) delivered by the Lead Borrower on behalf of
any Borrower. The Administrative Agent and the Lenders may give any notice or communication with a Borrower hereunder to the Lead Borrower on behalf of such Borrower. Each of the Administrative Agent, the Issuing Bank and the Lenders shall have the
right, in its discretion, to deal exclusively with the Lead Borrower for any or all purposes under the Loan Documents. Each Borrower agrees that any notice, election, communication, representation, agreement or undertaking made on its behalf by the
Lead Borrower shall be binding upon and enforceable against it. 
 Section 2.22. Illegality. If any Lender
reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender or its applicable lending office to make or maintain any LIBOR Loans, then,
on notice thereof by such Lender to the Lead Borrower through the Administrative Agent, any obligations of such Lender to make or continue LIBOR Loans, as the case may be, shall be suspended until such Lender notifies the Administrative Agent and
the Borrowers that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrowers shall, upon demand from such Lender, prepay all such LIBOR Borrowings of such Lender on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such LIBOR Borrowings to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans. Upon any such prepayment, the Borrowers shall also pay accrued
interest on the amount so prepaid. 
 Section 2.23. Extensions of Revolving Facility Loans and Commitments.

 (a) The Lead Borrower may at any time and from time to time request that all or a portion of the Commitments (and, in each
case, including any previously extended Commitments) existing at the time of such request (each, an “Existing Commitment” and any related revolving credit loans under any such facility, “Existing Revolving Facility
Loans”) be exchanged to extend the termination date thereof and the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of Existing Revolving Facility Loans related to such
Existing Commitments (any such Existing Commitments which have been so extended, “Extended Commitments” and any related revolving credit loans, “Extended Revolving Facility Loans”) and to provide for other terms
consistent with this Section 2.23. Prior to entering into any Extension Agreement with respect to 

  
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any Extended Commitments, the Lead Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders of the applicable Class of Existing
Commitments) setting forth the proposed terms of the Extended Commitments to be established thereunder, which terms shall be identical to those applicable to the Existing Commitments from which they are to be extended (the “Specified
Existing Commitment Class”) except (x) all or any of the final maturity dates of such Extended Commitments may be delayed to later dates than the final maturity dates of the Existing Commitments of the Specified Existing Commitment
Class, (y) the all-in pricing (including, without limitation, margins, fees and premiums) with respect to the Extended Commitments may be higher or lower than the all-in pricing (including, without limitation, margins, fees and premiums) for
the Existing Commitments of the Specified Existing Commitment Class; and (z) the revolving credit commitment fee rate with respect to the Extended Commitments may be higher or lower than the revolving credit commitment fee rate for Existing
Commitments of the Specified Existing Commitment, in each case, to the extent provided in the applicable Extension Agreement; provided that, notwithstanding anything to the contrary in this Section 2.23 or otherwise, (1) the
borrowing and repayment (other than in connection with a permanent repayment and termination of commitments) of the Extended Revolving Facility Loans under any Extended Commitments shall be made on a pro rata basis with any borrowings and
repayments of the Existing Revolving Facility Loans (the mechanics for which may be implemented through the applicable Extension Agreement and may include technical changes related to the borrowing and repayment procedures of the Revolving Credit
Facility), (2) assignments and participations of Extended Commitments and Extended Revolving Facility Loans shall be governed by the assignment and participation provisions set forth in Section 9.04 and (3) no termination of
Extended Commitments and no repayment of Extended Revolving Facility Loans accompanied by a corresponding permanent reduction in Extended Commitments shall be permitted unless such termination or repayment (and corresponding reduction) is
accompanied by at least a pro rata termination or permanent repayment (and corresponding pro rata permanent reduction), as applicable, of the Existing Revolving Facility Loans and Existing Commitments of the Specified Existing
Commitment Class (or all Existing Commitments of such Class and related Existing Revolving Facility Loans shall have otherwise been terminated and repaid in full). Any Extended Revolving Facility Loans shall constitute a separate Class of revolving
credit commitments from Existing Commitments of the Specified Existing Commitment Class and from any other Existing Commitments (together with any other Extended Revolving Facility Loans so established on such date); provided that in no event shall
there be more than three Classes of revolving credit commitments outstanding at any one time. 
 (b) Extended Loans/Commitments
shall be established pursuant to an amendment (an “Extension Agreement”) to this Agreement (which, except to the extent expressly contemplated by the penultimate sentence of this Section 2.23(b) and notwithstanding
anything to the contrary set forth in Section 9.08, shall not require the consent of any Lender other than the Extending Lenders with respect to the Extended Loans/Commitments established thereby) executed by the Loan Parties, the
Administrative Agent and the Extending Lenders. Notwithstanding anything to the contrary in this Section 2.25 and without limiting the generality or applicability of Section 9.08 to any Section 2.25 Additional
Agreements, any Extension Agreement may provide for additional terms and/or additional amendments other than those referred to or contemplated above (any such additional amendment, a “Section 2.25 Additional Agreement”) to this
Agreement and the other Loan Documents; provided that such Section 2.25 Additional 

  
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Agreements do not become effective prior to the time that such Section 2.25 Additional Agreements have been contested to (including, without limitation, pursuant to (1) consents
applicable to holders of Term Loans and Additional/Replacement Revolving Credit Commitment and (2) consents applicable to holders of any Extended Loans/Commitments provided for in any Extension Agreement) by such of the Lenders. Loan Parties
and other parties (if any) as may be required in order for such Section 2.25 Additional Agreements to become effective in accordance with Section 9.08. In connection with any Extension Agreement, the Lead Borrower shall
deliver an opinion of counsel reasonably acceptable to the Administrative Agent (i) as to the enforceability of such Extension Agreement, this Agreement as amended thereby, and such of the other Loan Documents (if any) as may be amended thereby
(in the case of such other Loan Documents as contemplated by the immediately preceding sentence), (ii) to the effect that such Extension Agreement, including without limitation, the Extended Loans/Commitments provided for therein, does not
conflict with or violate the terms and provisions of Section 9.08 and (iii) as to any other matter reasonably requested by the Administrative Agent. 
 Section 2.24. Protective Advances. The Administrative Agent shall be authorized, in its discretion, following notice to and consultation with the Lead Borrower, at any time, to make ABR Loans
(“Protective Advances”) (a) in an aggregate amount, together with the aggregate amount of all Overadvance Loans, not to exceed, at the time made, 10% of Availability, if the Administrative Agent deems such Protective Advances
necessary or desirable to preserve and protect the Collateral, or to enhance the collectability or repayment of the Obligations; or (b) to pay any other amounts chargeable to Loan Parties under any Loan Documents, including costs, fees and
expenses; provided that, the aggregate amount of outstanding Protective Advances plus the outstanding amount of Revolving Facility Loans and Revolving L/C Exposure shall not exceed the aggregate Total Commitments. Each Revolving Facility
Lender shall participate in each Protective Advance on a pro rata basis. Required Lenders may at any time revoke the Administrative Agent’s authority to make further Protective Advances under clause (a) by written notice to the
Administrative Agent. Absent such revocation, the Administrative Agent’s determination that funding of a Protective Advance is appropriate shall be conclusive. The Administrative Agent may use the proceeds of such Protective Advances to
(i) protect, insure, maintain or realize upon any Collateral; or (ii) defend or maintain the validity or priority of the Collateral Agent’s Liens in any Collateral, including any payment of a judgment, insurance premium, warehouse
charge, finishing or processing charge, or landlord claim, or any discharge of a Lien; provided that the Administrative Agent shall use reasonable efforts to notify the Lead Borrower after paying any such amount or taking any such action and, unless
an Event of Default exists, shall not make payment of any item that is being properly contested. 
 Section 2.25.
Overadvances. If the aggregate Revolver Facility Loans and Revolving L/C Exposure outstanding exceed the Borrowing Base (an “Overadvance”) at any time, the excess amount shall be payable by the Borrowers on demand by the
Administrative Agent, but all such Revolver Facility Loans and Revolving L/C Exposure shall nevertheless constitute Secured Obligations secured by the Collateral and entitled to all benefits of the Loan Documents. The Administrative Agent may
require the Lenders to honor requests for Overadvance Loans and to forbear from requiring the Borrowers to cure an Overadvance, (a) when no other Event of Default is known to the Administrative Agent, as long as (i) the Overadvance does
not continue for more than 30 consecutive days (and no Overadvance may exist for at least five consecutive days thereafter before further Overadvance Loans are required), 

  
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and (ii) the aggregate amount of all Overadvances and Protective Advances not known by the Administrative Agent to exceed 10% of Availability and (b) regardless of whether an Event of
Default exists, if the Administrative Agent discovers an Overadvance not previously known by it to exist, as long as from the date of such discovery the Overadvance (i) is not increased by more than $5 million and (ii) does not continue
for more than 30 consecutive days. In no event shall Overadvance Loans be required that would cause the aggregate outstanding Revolver Facility Loans and Revolving L/C Exposure to exceed the aggregate Total Commitments. The making of any Overadvance
shall not create nor constitute a Default or Event of Default; it being understood that the making or continuance of an Overadvance shall not constitute a waiver by the Administrative Agent or the Lenders of the then existing Event of Default. In no
event shall any Borrower or other Loan Party be permitted to require any Overadvance Loan to be made. 
 Section 2.26.
Application of Payment in the Dominion Accounts. 
 (a) During the existence of a Cash Dominion Period, the Collateral
Agent shall give notice to any depositary bank or securities intermediary that is party to a Control Agreement that it is exercising sole dominion over the account subject to such Control Agreement (such accounts, the “Dominion
Accounts”) (it being agreed that, if no Cash Dominion Period exists, Collateral Agent shall not give such notice and each Loan Party may direct the utilization of funds in each of its Deposit Accounts, Securities Accounts, investment
accounts, other bank accounts and commodities accounts) and each Borrower agrees that, upon the giving of such notice, during the existence of a Cash Dominion Period, the Collateral Agent shall exercise sole dominion over such account. At the
direction of Collateral Agent, after giving the notice specified above, all available cash balances and cash receipts, including the then contents or then entire ledger balance of any such account, shall be transferred by the end of each Business
Day by ACH or wire transfer into an account (the “Loan Account”) maintained by the Administrative Agent and applied in accordance with Section 2.26(b). Upon a Cash Dominion Event ceasing to exist, the
Administrative Agent shall provide the applicable banks or intermediaries notice that it has ceased to exercise control pursuant to the applicable Control Agreement. 
 (b) After the occurrence of an Event of Default and the exercise of remedies provided for in Section 2.26(c) or Section 7.01 (or after the Loans have automatically become due and
payable in the case of an Event of Default described in Section 7.01(i) or Section 7.01(j)) or the sale or other disposition of the Collateral through an enforcement action, all amounts received by the Administrative Agent
for distribution hereunder or under the Loan Documents shall, subject to the terms of the Intercreditor Agreement or any Junior Lien Intercreditor Agreement, be distributed in the following order and, if to Lenders, according to each Lender’s
pro rata share with respect to each category set forth below: 
 (i) first, to all fees, indemnification,
costs and expenses, owing to the Administrative Agent, including Extraordinary Expenses; 
 (ii) second,
to all amounts owing to the Administrative Agent on Swingline Loans, Protective Advances and any Loans or Revolving L/C Exposure that a Defaulting Lender has failed to settle or fund; 

  
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 (iii) third, to all amounts owing to the Issuing Bank; 

(iv) fourth, to all Secured Obligations (other than Secured Bank Product Obligations) constituting fees,
indemnification, costs and expenses owing to the Revolving Facility Lenders; 
 (v) fifth, to all Secured
Obligations (other than Secured Bank Product Obligations) constituting interest; 
 (vi) sixth, to Cash
Collateralization of Revolving L/C Exposure; 
 (vii) seventh, to all Loans and to Secured Bank Product
Obligations (including cash collateralization thereof) up to the amount of the Bank Product Reserves existing therefor; 
 (viii) eighth, to all other Secured Bank Product Obligations; 
 (ix) ninth, to all remaining Secured Obligations; and 
 (x)
last, any remaining balance to the Person entitled to receive such amounts under the Intercreditor Agreement or any Junior Lien Intercreditor Agreement and if no such agreement exists, to the Borrowers or their successors or assigns or to
whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 
 Amounts shall be applied to
payment of each category of Secured Obligations only after Full Payment of all amounts payable from time to time under all preceding categories. If amounts are insufficient to satisfy a category, they shall be paid ratably among Secured Obligations
in such category. The Administrative Agent shall have no obligation to calculate the amount of any Secured Bank Product Obligation and may request a reasonably detailed calculation thereof from the applicable Secured Bank Product Provider. If the
provider fails to deliver the calculation within five days following request, the Administrative Agent may assume the amount is zero. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 

The Holdings and each Borrower represents and warrants to each of the Lenders with respect to itself and each of its respective
Restricted Subsidiaries that: 
 Section 3.01. Organization; Powers. Except as set forth on
Schedule 3.01, each Loan Party and each of its Restricted Subsidiaries (a) is duly incorporated, established or organized, validly existing and (if applicable) in good standing under the laws of the jurisdiction of its
incorporation, establishment or organization except for such failure to be in good standing which could not reasonably be expected to have a Material Adverse Effect (b) has all requisite power and authority to own its property and assets and to
carry on its business as now conducted, (c) is qualified to do business in each jurisdiction where such qualification is required, except where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect and
(d) has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents subject to the terms of such Loan Documents and each other agreement or instrument contemplated thereby to which it is or will be a
party and, in the case of each Borrower, to borrow and otherwise obtain credit hereunder. 

  
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 Section 3.02. Authorization; No Violation; No Conflict. The execution, delivery
and performance by each Loan Party of each of the Loan Documents to which it is a party, and the borrowings hereunder and the Transactions (a) have been duly authorized by all necessary corporate, company, stockholder, limited liability company
or partnership action required to be obtained by such Loan Party and (b) will not (i) violate (A) the certificate, memorandum or articles of incorporation, association or amalgamation, or certificate or declaration of limited
partnership, or other constitutive documents or by-laws of, or unanimous shareholders’ agreement or shareholder declaration pertaining to, such Loan Party, (B) any provision of law, statute, rule or regulation, or any applicable order of
any court or any rule, regulation or order of any Governmental Authority or (C) any provision of any indenture, lease, agreement or other instrument to which such Loan Party is a party or by which any of them or any of their respective property
is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation
(including any payment) or to a loss of a material benefit under any such indenture, lease, agreement or other instrument, where any such conflict, violation, breach or default referred to in clauses (i)(B), (i)(C) or (ii) of this clause
(b), could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (c) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by
such Loan Party, other than the Liens created by the Loan Documents or permitted pursuant to Section 6.04. 

Section 3.03. Enforceability. This Agreement has been duly executed and delivered by Holdings and each Borrower and
constitutes, and each other Loan Document when executed and delivered by each Loan Party that is party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance with its
terms, subject to (a) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other laws affecting creditors’ rights generally, (b) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and (c) implied covenants of good faith and fair dealing. 
 Section 3.04. Governmental Approvals. No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with
the Transactions except for (a) the filing of UCC financing statements, (b) filings with the United States Patent and Trademark Office and the United States Copyright Office, (c) recordation of the Security Documents or any of the
Collateral to the extent required or customary under applicable law, (d) such consents, authorizations, approvals, registrations, filings or other actions (i) that have been made or obtained and are in full force and effect, (ii) that
are listed on Schedule 3.04 or (iii) the failure of which to be obtained or made could not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 3.05. Financial Statements. There has heretofore been furnished to the
Lenders: 
 (a) The audited consolidated balance sheets as of December 31, 2009 and December 31, 2010 and
December 31, 2011 and the related audited consolidated statements of earnings (loss), changes in shareholder’s equity and cash of Holdings for the years ended December 31, 2009 and December 31, 2010 and December 31, 2011
(which have heretofore been furnished to the Lenders), were prepared in accordance with GAAP applied not only during such periods but also as compared to the periods covered by the financial statements of Holdings referred to in paragraph
(b) of this Section 3.05 (except as may be indicated in the notes thereto) and fairly present the consolidated financial position of Holdings as of the dates thereof and its consolidated results of operations and cash flows for the
period then ended. 
 (b) The unaudited interim consolidated balance sheets as of September 30, 2012, and the related
statements of consolidated statements of earnings (loss), changes in shareholder’s equity and cash of Holdings as of September 30, 2012 were prepared in accordance with GAAP consistently applied not only during such periods but also as
compared to the periods covered by the financial statements of Holdings referred to in paragraph (a) of this Section 3.05 (except as may be indicated in the notes thereto) and fairly present the consolidated financial position of
Holdings as of the dates thereof and its consolidated results of operations and cash flows for the periods then ended (subject to normal year-end adjustments). 
 Section 3.06. No Material Adverse Effect. Since December 31, 2011, there has been no event or occurrence which has resulted in or would reasonably be expected to result in, individually
or in the aggregate, any Material Adverse Effect. 
 Section 3.07. Title to Properties; Possession Under Leases.

 (a) Holdings, the Borrowers and their Restricted Subsidiaries have good and valid title to, or valid leases, sub-leases or
licences of, or are otherwise entitled to use, all assets necessary for carrying on the business of Holdings, the Borrowers and their Restricted Subsidiaries as presently conducted, except where the failure to have such title could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. Holdings, the Borrowers and their Restricted Subsidiaries have maintained, in all material respects and in accordance with normal industry practice, all of the machinery,
equipment, vehicles, facilities and other tangible personal property now owned or leased by Holdings, the Borrowers and their Restricted Subsidiaries that is necessary to conduct their business as it is now conducted. All such assets are free and
clear of Liens, other than Prior Liens and other Liens expressly permitted by Section 6.04 or arising by operation of law. 
 (b) Holdings, the Borrowers and their Restricted Subsidiaries have complied with all obligations under all leases, sub- leases and other occupancy agreements to which it is a party, except where the
failure to comply could not reasonably be expect to have a Material Adverse Effect, and all such leases, sub-leases and other occupancy agreements are in full force and effect, except leases, sub-leases and other occupancy agreements in respect of
which the failure to be in full force and effect could not reasonably be expected to have a Material Adverse Effect. Holdings, the Borrowers and their Restricted Subsidiaries enjoy peaceful and undisturbed possession under all such leases, other
than leases in respect of which the failure to enjoy peaceful and undisturbed possession could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

  
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 (c) Holdings, the Borrowers and their Restricted Subsidiaries own or possess, or have the
right to use or could obtain ownership or possession of or a right to use, on terms not materially adverse to it, all patents, trademarks, service marks, trade names and copyrights necessary for the present conduct of their business, without any
known conflict with the rights of others, and free from any burdensome restrictions, except where such conflicts and restrictions could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

(d) As of the Closing Date, none of Holdings, the Borrowers and their Restricted Subsidiaries have received any notice of any pending or
contemplated condemnation proceeding affecting any Real Property that constitutes part of the Collateral or any sale or disposition thereof in lieu of condemnation that remains unresolved as of the Closing Date, except as set forth on Schedule
3.07(d). 
 (e) Neither Holdings, any Borrower nor any of their Restricted Subsidiaries is obligated on the Closing Date
under any right of first refusal, option or other contractual right to sell, assign or otherwise dispose of any Real Property that constitutes part of the Collateral or any interest therein, except as permitted under
Section 6.02(a) or Section 1.01. 
 (f) Schedule 3.07(f) sets forth as of the Closing
Date the name and jurisdiction of incorporation, establishment, formation or organization of each Subsidiary of Holdings and, as to each such Subsidiary, the percentage of each class of Equity Interests owned by Holdings or by any such Subsidiary,
indicating the ownership thereof. 
 (g) As of the Closing Date, there are no outstanding subscriptions, options, warrants,
calls, rights, pre-emptive rights or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to any Equity Interests of Holdings, the Borrowers or any
of their Restricted Subsidiaries, except as set forth on Schedule 3.07(g). 
 (h) Each of Holdings, the Borrowers and
their Restricted Subsidiaries owns or holds licenses or other rights to or under all the patents, patent applications, trademarks, designs, service marks, trademark and service mark registrations and applications therefor, trade names, copyrights,
copyright registrations and applications therefor, trade secrets, proprietary information, computer programs, data bases, licenses, permits, franchises and formulas, or rights with respect to the foregoing which are material to the business of
Holdings and its Subsidiaries (collectively, “Intellectual Property”), and has obtained assignments of all licenses and other rights of whatever nature, material to the present conduct of the business of Holdings and its
Subsidiaries without any known conflict with the rights of others in each case except as could not reasonably be expected to have a Material Adverse Effect. Neither Holdings nor any of its Subsidiaries has knowledge of any existing or threatened
claim by any Person contesting the validity, enforceability, use or ownership of the Intellectual Property, or of any existing state of facts that would support a claim that use by Holdings or any of its Subsidiaries of any such Intellectual
Property has infringed or otherwise violated any proprietary rights of any other Person, in each case except as could not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 3.08. Litigation; Compliance with Laws. 

(a) Except as set forth on Schedule 3.08(a), there are no actions, suits, investigations or proceedings at law or in equity or by
or on behalf of any Governmental Authority or in arbitration now pending against, or, to the knowledge of Holdings or any Borrower, threatened in writing against or affecting, any of Holdings and its Restricted Subsidiaries or any business, property
or rights of any such Person (i) as of the Closing Date, that involve any Loan Document or the Transactions or (ii) which individually could reasonably be expected to have a Material Adverse Effect or which could reasonably be expected,
individually or in the aggregate, to materially adversely affect the Transactions. 
 (b) Except as set forth in Schedule
3.08(b), none of the Borrowers or any of their Restricted Subsidiaries and their respective properties or assets is in violation of (nor will the continued operation of their material properties and assets as currently conducted violate) any
currently applicable law, rule or regulation (including any zoning, building, Environmental Law, ordinance, code or approval or any building permit) or any restriction of record or agreement affecting any Real Property that is part of the
Collateral, or is in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 (c) Each of Holdings, any Borrower or any Subsidiary is in compliance, in all material respects, with the USA PATRIOT Act. To
the best of Holdings’ and the Borrowers’ knowledge, Holdings and each of its Subsidiaries is in compliance with the Foreign Corrupt Practices Act (United States of America), regulations and orders made under any of the foregoing statute
and any other export controls or sanctions administered or enforced by the Government of United States of America (“Sanctions”) or any analogous laws. 
 (d) To the best of Holdings’ and the Borrowers’ knowledge none of Holdings, any Borrower or any Subsidiary nor, to the knowledge of Holdings and the Borrowers, any director, officer, agent,
employee or Affiliate of Holdings, the Borrowers or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Borrower will not
directly or indirectly use the proceeds of the Loans or the Letters of Credit or otherwise make available such proceeds to any Person, for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by
OFAC. 
 (e) To the best of Holdings’ and the Borrowers’ knowledge, none of it, any of its Subsidiaries or any
director, officer, employee, agent, affiliate or representative of it or any of its Subsidiaries is an individual or entity that is, or is owned or controlled by, a person that is (i) the subject of any Sanctions (as defined in paragraph
(c) above); or (ii) located, organized or resident in Cuba, Iran, North Korea, Sudan or Syria. Each member of the Group has terminated any and all business activities, direct or indirect, with or in any country or territory listed in the
preceding sentence. 
 (f) To the best of Holdings’ and the Borrowers’ knowledge, none of it, any of its Subsidiaries
or any director, officer, employee, agent, affiliate or representative of it or any of its 

  
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Subsidiaries has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything
else of value, directly or indirectly, to any “government official” (including any officer or employee of a government or government- owned or controlled entity or of a public international organization, or any person acting in an official
capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to influence official action or secure an improper advantage, where such offer, payment, promise to pay, or authorization
or approval of the payment or giving of money, property, gifts or anything else of value would be reasonably likely to have a Material Adverse Effect or could materially prejudice the Lenders or their reputations. 

Section 3.09. Federal Reserve Regulations. 
 (a) None of Holdings and the Borrowers or any of their Restricted Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of
purchasing or carrying Margin Stock. 
 (b) No part of the proceeds of any Loan will be used, whether directly or indirectly,
and whether immediately, incidentally or ultimately, (i) to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally incurred for such purpose, or
(ii) for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation U or Regulation X. 
 Section 3.10. Investment Company Act. None of Holdings or any of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act
of 1940, as amended. 
 Section 3.11. Use of Proceeds. Each Borrower will use the proceeds of the Revolving Facility
Loans and Swingline Loans, and may request the issuance of Revolving Letters of Credit, solely for general corporate purposes including, without limitation, the consummation of the Refinancing and to pay fees and expenses related thereto.

 Section 3.12. Tax Returns. Except as set forth on Schedule 3.12, each of Holdings and its Subsidiaries
(i) has timely filed or caused to be timely filed all federal, state, local and non-U.S. Tax returns required to have been filed by it and each such Tax return is complete and accurate in all material respects and (ii) has timely paid or
caused to be timely paid all Taxes shown thereon to be due and payable by it and all other material Taxes or assessments (including in the capacity of a withholding agent), except in each case referred to in clauses (i) or (ii) above,
(1) if the failure to comply could not reasonably be expected to cause a Material Adverse Effect or (2) if the Taxes or assessments are being contested in good faith by appropriate proceedings in accordance with Section 5.03
and for which Holdings or any of its Subsidiaries (as the case may be) has set aside on its books adequate reserves in accordance with GAAP. 
 Section 3.13. No Material Misstatements. 
 (a) All written information
(other than the Projections, estimates and information of a general economic nature) (the “Information”) concerning Holdings and its Subsidiaries, the 

  
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Transaction and any other transactions contemplated hereby disseminated by Holdings and its Subsidiaries to the Administrative Agent or the Lenders in connection with the Transaction or the other
transactions contemplated hereby, when taken as a whole, was true and correct in all material respects, as of the date such Information was furnished to the Lenders and as of the Closing Date, and did not contain any untrue statement of a material
fact as of any such date or omit to state any material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements were made. 

(b) The Projections prepared by or on behalf of Holdings or any of its representatives and that have been made available to any Lenders
or the Administrative Agent in connection with the Transactions or the other transactions contemplated hereby (i) have been prepared in good faith based upon assumptions believed by Holdings to be reasonable as of the date thereof, as of the
date such Projections were furnished to the Initial Lenders and as of the Closing Date, and (ii) as of the Closing Date, have not been modified in any material respect by Holdings. 

(c) At the time of delivery of each Borrowing Base Certificate, each Receivable reflected therein as eligible for inclusion in the
Borrowing Base is an Eligible Receivable and the Inventory reflected therein as eligible for inclusion in the Borrowing Base constitutes Eligible Inventory. 
 Section 3.14. Employee Benefit Plans. 
 (a) Each Plan has been
administered in compliance with the applicable provisions of ERISA and the Code (and the regulations and published interpretations thereunder), except for such noncompliance that could not reasonably be expected to have a Material Adverse Effect. As
of the Closing Date, the excess of the present value of all benefit liabilities under each Plan of each Borrower, and each Subsidiary of a Borrower and the ERISA Affiliates (based on those assumptions used to fund such Plan), as of the last annual
valuation date applicable thereto for which a valuation is available, over the value of the assets of such Plan could not reasonably be expected to have a Material Adverse Effect, and the excess of the present value of all benefit liabilities of all
underfunded Plans (based on those assumptions used to fund each such Plan) as of the last annual valuation dates applicable thereto for which valuations are available, over the value of the assets of all such underfunded Plans could not reasonably
be expected to have a Material Adverse Effect. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other ERISA Events which have occurred or for which liability is reasonably expected to occur, could
reasonably be expected to result in a Material Adverse Effect. 
 (b) All foreign pension schemes sponsored or maintained by
Holdings and each of its Subsidiaries, if any, are maintained in accordance with the requirements of applicable foreign law, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. 

Section 3.15. Environmental Matters. Except as set forth on Schedule 3.15 or to matters that could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect (i) no written notice, request for information, order, complaint, Environmental Claim or penalty has been received by Holdings, any Borrower or any of the

  
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Restricted Subsidiaries, and there are no judicial, administrative or other actions, suits or proceedings pending or to the knowledge of Holdings, any Borrower and its Restricted Subsidiaries
threatened against a Borrower or any of its Subsidiaries which allege a violation of or liability under any Environmental Laws, in each case relating to such Borrower or any of its Subsidiaries, (ii) Holdings, each Borrower and each of its
Restricted Subsidiaries has all environmental, health and safety permits and approvals necessary for its operations as currently conducted to comply with all applicable Environmental Laws and is, and has been, in compliance with the terms of such
permits and with all other applicable Environmental Laws except for non-compliances which have been resolved and the costs of such resolution have been paid, (iii) to the knowledge of any Holdings, Borrower and its Restricted Subsidiaries, no
Hazardous Material is located at any property currently or formerly owned, operated or leased by Holdings, such Borrower or any of its other Restricted Subsidiaries that would reasonably be expected to give rise to any liability to or Environmental
Claim against Holdings, such Borrower or any of its Restricted Subsidiaries under any Environmental Laws, and no Hazardous Material has been generated, owned or controlled by Holdings, such Borrower or any of its other Restricted Subsidiaries and
transported to or Released at any location in a manner that would reasonably be expected to give rise to any liability or Environmental Claim of Holdings, such Borrower or any of its Subsidiaries under any Environmental Laws, (iv) to the
knowledge of Holdings, any Borrower and its Restricted Subsidiaries, there are no acquisition agreements pursuant to which Holdings, such Borrower or any of its Subsidiaries has expressly assumed or undertaken responsibility for any liability or
obligation of any other Person arising under or relating to Environmental Laws, which in any such case has not been made available to the Administrative Agent prior to the date hereof, (v) to the knowledge of Holdings, any Borrower and its
Restricted Subsidiaries, there are no landfills or disposal areas located at, on, in or under the assets of Holdings, such Borrower or any of its Restricted Subsidiaries, and (vii) to the knowledge of Holdings, any Borrower and its Restricted
Subsidiaries, except as listed on Schedule 3.15 there are not currently and there have not been any underground storage tanks “owned” or “operated” (as defined by applicable Environmental Law) by Holdings, such Borrower or
any Restricted Subsidiary or present or located on Holdings’, such Borrower’s or any Restricted Subsidiary’s Real Property. For purpose of Section 7.01(a), each of the representations and warranties contained in parts
(iii), (iv), (v) and (vi) of this Section 3.15 that are qualified by the knowledge of Holdings, a Borrower and its Restricted Subsidiaries shall be deemed not to be so qualified. Representations and warranties of Holdings, a
Borrower or any Restricted Subsidiary with respect to environmental matters are limited to those in this Section 3.15 unless expressly stated. 
 Section 3.16. No Undisclosed Liabilities. 
 (a) No Lien exists on or
over all or any part of the present or future assets of Holdings, any Borrower or any of its Restricted Subsidiaries that secures Obligations under any Indebtedness of Holdings, any Borrower or any of its Restricted Subsidiaries other than as
permitted under Section 6.04. 
 (b) None of Holdings, any Borrower or any of its Restricted Subsidiaries have
incurred any Indebtedness to the extent such incurrence is prohibited by Section 6.02. 

  
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 Section 3.17. Creation of Security Interests. Each Security Document is
effective to create in favor of the Collateral Agent for the benefit of the Finance Parties, a legal, valid and enforceable security interest in the Collateral described therein except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law) and the implied covenants of
good faith and fair dealings and any other Reservations. Upon completion of the delivery, filing and other actions specified in the relevant Security Documents, the Collateral Agent shall have a fully perfected first priority Lien on, and security
interest in, all right, title and interest of the Loan Parties in such Collateral (to the extent a security interest in such Collateral can be perfected through taking of such actions), as security for the Obligations, in each case prior in right to
the Lien of any other Person except for Liens permitted pursuant to Section 6.04 and Liens having priority by operation of law. 
 Section 3.18. Solvency. 
 (a) Immediately after giving effect to the
Transactions (i) the fair value of the assets (for the avoidance of doubt, calculated to include goodwill and other intangibles) of Holdings, the Borrowers and their Restricted Subsidiaries on a consolidated basis, at a fair valuation, will
exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of Holdings, the Borrowers and their Restricted Subsidiaries on a consolidated basis, respectively; (ii) the present fair saleable value of the property of
Holdings, the Borrower and their Restricted Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability of Holdings, the Borrowers and their Restricted Subsidiaries that are Loan Parties
on a consolidated basis, respectively, on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) Holdings, the Borrowers and their Restricted
Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (iv) Holdings, the Borrowers and their
Restricted Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date.

 (b) Holdings, the Borrowers and their Restricted Subsidiaries, on a consolidated basis, do not intend to, and do not believe
that they will, incur debts beyond their ability to pay such debts as they mature, taking into account the timing and amounts of cash to be received by Holdings, any Borrower or any such Restricted Subsidiary and the timing and amounts of cash to be
payable on or in respect of the Indebtedness of Holdings, any Borrower or any such Restricted Subsidiary. 

Section 3.19. Labor Matters. There are no strikes pending or threatened against any Loan Party or any of its Subsidiaries
that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. The hours worked and payments made to employees of the Loan Parties and their Subsidiaries have not been in violation in any material respect of
the Fair Labor Standards Act or any other applicable law dealing with such matters. All material payments due from the Loan Parties or any of their Subsidiaries or for which any claim may be made against any Loan Party or any of its Subsidiaries, on
account of wages and 

  
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employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books of such Loan Party or such Subsidiary to the extent required by GAAP. Except as set
forth on Schedule 3.19, consummation of the Transactions will not give rise to a right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which any Loan Party or any of its
Subsidiaries (or any predecessor) is a party or by which any Loan Party or any of its Subsidiaries (or any predecessor) is bound, other than collective bargaining agreements that, individually or in the aggregate, are not material to Holdings and
its Subsidiaries, taken as a whole. 
 Section 3.20. Insurance. Schedule 3.20 sets forth a true, complete and
correct description of all material insurance maintained by or on behalf of Holdings and its Restricted Subsidiaries as of the Closing Date. As of such date, such insurance is in full force and effect. Holdings believes that the insurance maintained
by or on behalf of it and its Restricted Subsidiaries is adequate. 
 Section 3.21. Designation as Senior Debt. All
Obligations are and shall be treated as “Designated Senior Indebtedness” under, and defined in, the each subordinated debt document. 
 ARTICLE IV 
 CONDITIONS TO CREDIT EVENTS 

The obligations of (a) the Lenders to make Loans or (b) any Issuing Bank to issue, amend, extend or renew any Revolving Letter
of Credit hereunder (each of (a) and (b), a “Credit Event”) are subject to the satisfaction of the following conditions: 
 Section 4.01. All Credit Events. On the date of each Credit Event (other than any Credit Event on the Closing Date): 
 (a) The Administrative Agent shall have received, in the case of a Borrowing, a Borrowing Request as required by Section 2.03 (or a Borrowing Request shall have been deemed given in accordance
with the last paragraph of Section 2.03) or, in the case of the issuance of a Revolving Letter of Credit, the applicable Issuing Bank and the Administrative Agent shall have received a notice requesting the issuance of such Revolving
Letter of Credit as required by Section 2.05(b) (in the case of any Revolving Letter of Credit). 
 (b) The
representations and warranties set forth in Article III hereof shall be true and correct in all material respects on and as of the date of such Credit Event (other than an amendment, extension or renewal of a Revolving Letter of Credit
without any increase in the stated amount of such Revolving Letter of Credit), as applicable, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date
(in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

(c) At the time of and immediately after such Credit Event (other than an amendment, extension or renewal of a Revolving Letter of Credit
without any increase in the stated amount of such Revolving Letter of Credit), as applicable, no Event of Default or Default shall have occurred and be continuing. 

  
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 Each Credit Event (other than any Credit Event on the Closing Date) (other than an
amendment, extension or renewal of a Revolving Letter of Credit without any increase in the stated amount of such Revolving Letter of Credit) shall be deemed to constitute a representation and warranty by the Borrowers on the date of such Credit
Event as to the matters specified in paragraphs (b) and (c) of this Section 4.01. 
 Section 4.02.
First Credit Event. On the Closing Date: 
 (a) The Administrative Agent (or its counsel) shall have received from each party
hereto either (a) a counterpart of this Agreement signed on behalf of such party or (b) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission, or electronic transmission of a PDF copy, of a
signed signature page of this Agreement) that such party has signed a counterpart of this Agreement. 
 (b) The Administrative
Agent shall have received, on behalf of itself, the Collateral Agent, the Lenders and each Issuing Bank on the Closing Date, favorable written opinions of (i) Simpson Thacher & Bartlett LLP, special counsel for the Loan Parties, as to
matters of New York law and (ii) Baker Botts L.L.P as to matters of Texas law, in each case, in form and substance reasonably satisfactory to the Administrative Agent (A) dated the Closing Date, (B) addressed to each Issuing Bank on
the Closing Date, the Administrative Agent, the Collateral Agent and the Lenders and (C) in form and substance reasonably satisfactory to the Administrative Agent and covering such matters relating to the Loan Documents as the Administrative
Agent shall reasonably request, and, where applicable, each Loan Party and each Finance Party hereby instructs its counsel to deliver such opinions; provided that, if any of the above opinions is not required to cover Loan Documents being
entered into on the Closing Date, such opinion may instead be provided pursuant to Section 5.12. 
 (c) The
Administrative Agent shall have received in the case of each Loan Party each of the following: 
 (i) a copy of
the certificate or articles of incorporation, partnership agreement or limited liability agreement, including all amendments thereto, or other relevant constitutional documents under applicable law of each Loan Party, (A) in the case of a
corporation, certified as of a recent date by the Secretary of State (or other similar official, including a public notary or, where customary practice in any relevant jurisdiction, by an officer or director of such Loan Party) and a certificate as
to the good standing (to the extent such concept or a similar concept exists under the laws of such jurisdiction) of each such Loan Party as of a recent date from such Secretary of State (or other similar official), or (B) in the case of a
partnership or limited liability company, certified by the Secretary or Assistant Secretary of each such Loan Party; 
 (ii) a certificate of an officer of each Loan Party, in each case dated the Closing Date and certifying: 
 (A) that attached thereto is a true and complete copy of the by-laws (or partnership agreement, memorandum and articles of association, limited liability company agreement or other equivalent governing
documents) of such Loan Party as in effect on the Closing Date and at all times since a date prior to the date of the resolutions described in clause (B) below, 

  
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 (B) that attached thereto is a true and complete copy of resolutions duly
adopted by the Board of Directors (or equivalent governing body) of such Loan Party (or its managing general partner or managing member) authorizing a specified person or persons to execute, deliver and perform of the Loan Documents to which such
Loan Party is a party (or at least the Loan Documents to which such Loan Party is a party on the Closing Date) and any certificate, notice or document related thereto and, in the case of any Borrower, the borrowings hereunder, and that such
resolutions have not been modified, rescinded or amended and are in full force and effect on the Closing Date, 

(C) that the certificate or articles of incorporation, partnership agreement or limited liability agreement (or other
equivalent governing documents) of such Loan Party has not been amended since the date of the last amendment thereto disclosed pursuant to clause (i) above, and 

(D) as to the incumbency and specimen signature of each officer or director executing any Loan Document on behalf of such
Loan Party, and 
 (d) The Collateral and Guarantee Requirement with respect to items to be completed as of the Closing Date
shall have been satisfied and, if applicable, be in proper form for filing or be evidenced in the shareholder register. 
 (e)
The Refinancing shall have been consummated or shall be consummated substantially contemporaneously with the initial Credit Event hereunder. 
 (f) The Lenders shall have received the financial statements referred to in Section 3.05. 
 (g) The Lenders shall have received a solvency certificate substantially in the form of Exhibit B and signed by the chief financial officer or another Responsible Officer of Holdings confirming the
solvency of Holdings, the Borrowers and their Restricted Subsidiaries on a consolidated basis after giving effect to the Transactions. 
 (h) There has not been any Company Material Adverse Effect, after giving effect to the Transactions, taken as a whole, since December 31, 2011. 

(i) The Agents shall have received all fees payable thereto or to any Lender on or prior to the Closing Date and, to the extent invoiced
3 Business Days prior to the Closing Date, all other amounts due and payable pursuant to the Loan Documents on or prior to the Closing Date, including, to the extent invoiced 3 Business Days prior to the Closing Date, reimbursement or payment of all
reasonable out-of-pocket expenses required to be reimbursed or paid by the Loan Parties hereunder or under any Loan Document. 

  
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 (j) The Administrative Agent shall have received a certificate signed by a Responsible
Officer of each of Holdings and the Lead Borrower as to the matters set forth in clauses (e), (h) and (l)(ii) of this Section 4.02. 
 (k) The Administrative Agent shall have received a completed perfection certificate dated the Closing Date and signed by a Responsible Officer of each Loan Party, together with all attachments
contemplated thereby. 
 (l) The (i) Specified Acquisition Agreement Representations and (ii) the Specified
Representations shall be true and correct in all material respects. 
 (m) The Administrative Agent shall have received the
results of recent UCC Lien and judgment searches with respect to each Loan Party to the extent reasonably required by the Administrative Agent, and such results shall reveal no material judgments and no Liens on any of the assets of the Loan Parties
except for Permitted Liens or Liens discharged on or prior to the Closing Date. 
 (n) The Lead Borrower shall have duly
authorized, executed and delivered the Borrowing Base Certificate on or prior to the Closing Date. On or prior to the Closing Date, the Borrowers shall have provided to the Administrative Agent (i) an appraisal of the Inventory of each Borrower
and their respective Subsidiaries and (ii) the results of a field examination of the Inventory and Accounts and related assets and liabilities of each Borrower and their respective Subsidiaries and, in each case, the results of such appraisal
and field examination shall be in form, scope and substance reasonably satisfactory to the Administrative Agent. 
 (o) The
Administrative Agent shall have received 5 days prior to the Closing Date (or such later date that the Administrative Agent shall reasonably agree) all documentation and other information required by bank regulatory authorities under applicable
“know your customer” and anti-money laundering rules and regulations, including USA Patriot, for each of Holdings and each Borrower and any other Loan Party that the Administrative Agent has reasonably requested at least 10 days in advance
of the Closing Date. 
 ARTICLE V 
 AFFIRMATIVE COVENANTS 
 The Lead Borrower covenants and agrees with each Lender
that so long as this Agreement shall remain in effect and until the commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document shall have been paid in
full and all Revolving Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, the Lead Borrower will, and will cause each
other Borrower and each of its Restricted Subsidiaries (and with respect to Sections 5.01(a) and 5.14(f), Holdings) to: 

Section 5.01. Existence; Businesses and Properties. 
 (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.06,

  
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and except for the liquidation or dissolution of Subsidiaries if the assets of such Subsidiaries to the extent they exceed estimated liabilities are acquired by a Borrower or a Restricted
Subsidiary of a Borrower in such liquidation or dissolution; provided that Subsidiary Loan Parties may not be liquidated into Subsidiaries that are not Loan Parties unless permitted by Section 6.01. 

(b) Do or cause to be done all things necessary to (i) in the Lead Borrower’s reasonable business judgment obtain, preserve,
renew, extend and keep in full force and effect the permits, franchises, authorizations, patents, trademarks, service marks, trade names, copyrights, licenses and rights with respect thereto necessary to the normal conduct of its business,
(ii) comply in all material respects with all material applicable laws, rules, regulations (including any applicable zoning, building, ordinance, code or approval or any building permits) and judgments, writs, injunctions, decrees and orders of
any Governmental Authority, whether now in effect or hereafter enacted and (iii) at all times maintain and preserve all property necessary to the normal conduct of its business and keep such property in good repair, working order and condition
and from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at
all times (in each case except as expressly permitted by this Agreement); in each case in this paragraph (b) except where the failure could not reasonably be expected to have a Material Adverse Effect. 

Section 5.02. Insurance. 
 (a) Keep its insurable properties insured at all times by financially sound and reputable insurers in such amounts as shall be customary for similar businesses and maintain such other reasonable insurance
(including, to the extent consistent with past practices, self-insurance), of such types, to such extent and against such risks, as is customary with companies in the same or similar businesses and maintain such other insurance as may be required by
law or any other Loan Document. 
 (b) In connection with the covenants set forth in this Section 5.02, it is
understood and agreed that: 
 (i) none of the Agents, the Lenders, the Issuing Bank and their respective agents
or employees shall be liable for any loss or damage insured by the insurance policies required to be maintained under this Section 5.02, it being understood that (x) each Borrower and their Subsidiaries shall look solely to their
insurance companies or any parties other than the aforesaid parties for the recovery of such loss or damage and (y) such insurance companies shall have no rights of subrogation against the Agents, the Lenders, any Issuing Bank or their agents
or employees. If, however, the insurance policies do not provide waiver of subrogation rights against such parties, as required above, then each Borrower hereby agrees, to the extent permitted by law, to waive, and to cause each of its Restricted
Subsidiaries to waive, its right of recovery, if any, against the Agents, the Lenders, any Issuing Bank and their agents and employees; and 
 (ii) the designation of any form, type or amount of insurance coverage by the Administrative Agent, the Collateral Agent under this Section 5.02 shall in no event be deemed a representation,
warranty or advice by the Administrative Agent, the Collateral Agent or the Lenders that such insurance is adequate for the purposes of the business of any Borrower or any of their Subsidiaries or the protection of their properties. 

  
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 Section 5.03. Taxes. Pay and discharge promptly when due all material Taxes,
assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or
otherwise that, if unpaid, might give rise to a Lien upon such properties or any part thereof; provided, however, that such payment and discharge shall not be required with respect to any such Tax, assessment, charge, levy or claim so
long as (i) the validity or amount thereof shall be contested in good faith by appropriate proceedings, and the affected Borrower or the affected Subsidiary, as applicable, shall have set aside on its books reserves in accordance with GAAP with
respect thereto or (ii) the aggregate amount of such Taxes, assessments, charges, levies or claims does not exceed U.S.$2.5 million. 
 Section 5.04. Financial Statements, Reports, Etc. Furnish to the Administrative Agent (which will promptly furnish such information to the Lenders): 

(a) within 90 days after the end of each fiscal year (except 120 days after the end fiscal year 2012), a consolidated balance sheet and
related statements of operations, cash flows and owners’ equity showing the financial position of Holdings and its Subsidiaries as of the close of such fiscal year and the consolidated results of their operations during such year and setting
forth in comparative form the corresponding figures for the prior fiscal year, all audited by independent chartered accountants of recognized national standing reasonably acceptable to the Administrative Agent and accompanied by an opinion of such
accountants (which shall not be qualified in any material respect) to the effect that such consolidated financial statements fairly present, in all material respects, the financial position and results of operations of Holdings and its Subsidiaries
on a consolidated basis in accordance with GAAP; 
 (b) within 45 days after the end of each of the first three fiscal quarters
of each fiscal year (except 60 days after the end of the first full fiscal quarters of the fiscal year after the Closing Date), a consolidated balance sheet and related statements of operations and cash flows showing the financial position of
Holdings and its Subsidiaries as of the close of such fiscal quarter and the consolidated results of their operations during such fiscal quarter and the then-elapsed portion of the fiscal year and setting forth in comparative form the corresponding
figures for the corresponding periods of the prior fiscal year, all certified by a Financial Officer of Holdings, on behalf of Holdings, as fairly presenting, in all material respects, the financial position and results of operations of Holdings and
its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the absence of footnotes); 
 (c) concurrently with any delivery of financial statements under (a) or (b) above, a certificate of a Financial Officer of Holdings (i) certifying that no Event of Default or Default has
occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto and (ii) setting forth the reasonably detailed calculations
with respect to the Fixed Charge Coverage Ratio for such period, whether or not the requirements of Section 6.10 are then in effect and (iii) a list of Material Subsidiaries; 

  
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 (d) promptly after the same become publicly available, copies of all periodic and other
available reports, proxy statements and, to the extent requested by the Administrative Agent, other materials filed by Holdings, the Lead Borrower and its Subsidiaries with the SEC, or after an initial public offering, distributed to its
stockholders generally, if and as applicable; 
 (e) promptly, a copy of all reports submitted to the Board of Directors (or any
committee thereof) of any Borrower or any of its Restricted Subsidiaries in connection with any material interim or special audit made by independent accountants of the books of any Borrower or any of its Wholly Owned Subsidiaries; 

(f) promptly, from time to time, such other information regarding the operations, business affairs and financial condition of a Borrower
or any of its Restricted Subsidiaries, or compliance with the terms of any Loan Document, or such consolidating financial statements, as in each case the Administrative Agent may reasonably request (for itself or on behalf of any Lender);

 (g) promptly upon request by the Administrative Agent (and only if such documents are in existence), copies of: (i) each
Schedule B (Actuarial Information) to the annual report (Form 5500 Series) filed with the Internal Revenue Service with respect to a Plan; (ii) the most recent actuarial valuation report for any Plan; (iii) all notices received from
a Multiemployer Plan sponsor or a Plan sponsor or any governmental agency concerning an ERISA Event; and (iv) such other documents or governmental reports or filings relating to any Plan or Multiemployer Plan as the Administrative Agent shall
reasonably request; 
 (h) contemporaneously with the financial statements delivered pursuant to clause (a) above, a budget
(setting forth quarterly forecasts) for such fiscal year in form customarily prepared by Holdings; 
 (i) contemporaneously with
the financial statements delivered pursuant to clause (a) above, a certificate from an Responsible Officer containing any updates to Sections 1(a) or (c)(iii) of the perfection certificate or stating no changes to such sections have occurred
since the perfection certificate delivered on the Closing Date or last delivered pursuant to this clause (i), as applicable; 

(j) promptly upon the Administrative Agent’s reasonable request, from time to time, a listing of each Borrower’s trade
payables, specifying the trade creditor and balance due, and a detailed trade payable aging. 
 Section 5.05. Litigation
and Other Notices. Furnish to the Administrative Agent written notice of the following promptly after any Responsible Officer of Holdings or any Borrower obtains actual knowledge thereof: 

(a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken
with respect thereto; 
 (b) the filing or commencement of, or any written threat or written notice of intention of any Person
to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority or in arbitration, against any Loan Party or any of its Restricted Subsidiaries as to which an adverse determination is
reasonably probable and which, if adversely determined, could reasonably be expected to have a Material Adverse Effect; 

  
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 (c) any other development specific to Holdings, the Borrowers or any of their Restricted
Subsidiaries that is not a matter of general public knowledge and that has had, or could reasonably be expected to have, a Material Adverse Effect; and 
 (d) the occurrence of any ERISA Event, that together with all other ERISA Events that have occurred, could reasonably be expected to have a Material Adverse Effect. 

Section 5.06. Compliance with Laws. 
 (a) Comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property (owned or leased), except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect; provided that this Section 5.06 shall not apply to Environmental Laws, which are the subject of Section 5.09, or to laws related to
payment of Taxes, which are the subject of Section 5.03. 
 (b) Comply in all respects with the laws and regulations
set forth in Section 3.08(c), in each case to the extent applicable, where failure to comply would have a Material Adverse Effect or could materially prejudice the Lenders or their reputations. 

Section 5.07. Maintaining Records; Access to Properties and Inspections. 

(a) Maintain all financial records in accordance with GAAP. 
 (b) Permit the Administrative Agent, subject to reasonable advance notice to, and reasonable coordination with, the Lead Borrower and normal business hours, to visit and inspect the Properties of any
Borrower, at the Borrowers’ expense as provided in clause (c) below, inspect, audit and make extracts from any Borrower’s corporate, financial or operating records, and discuss with its officers, employees, agents, advisors and
independent accountants (subject to such accountants’ customary policies and procedures) such Borrower business, financial condition, assets and results of operations (it being understood that a representative of the Lead Borrower is allowed to
be present in any discussions with officers, employees, agent, advisors and independent accountants); provided that the Administrative Agent shall only be permitted to conduct one field examination and one inventory appraisal (each at the expense of
the Borrowers) with respect to any Collateral comprising the Borrowing Base per 12-month period; provided further, that if at any time Excess Availability is less than the greater of (i) 30% of Availability and (ii) $ 60.0 million for
a period of 3 consecutive Business Days during such 12-month period, one additional field examination and one additional inventory appraisal (each at the expense of the Borrowers) will be permitted in such 12-month period and (ii) during the
continuation of any Specified Event of Default, there shall be no limit on the number of additional field examinations and inventory appraisals (each at the expense of the Borrowers) that shall be permitted at the Administrative Agent’s
reasonable request. No such inspection or visit shall unduly interfere with the business or operations of any Borrower, nor result in any damage to the Property or other Collateral. No inspection shall involve invasive testing without the prior
written consent of the Lead Borrower. Neither the Administrative Agent nor any 

  
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Lender shall have any duty to any Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with any Borrower. Each of the Borrowers acknowledges that all
inspections, appraisals and reports are prepared by the Administrative Agent and Lenders for their purposes, and the Borrowers shall not be entitled to rely upon them. 
 (c) Reimburse the Administrative Agent for all reasonable out-of-pocket costs and expenses (other than any legal fees or costs and expenses covered under Section 9.05) of the Administrative
Agent in connection with field examinations and inventory appraisals of Collateral comprising the Borrowing Base; subject to the limitations on such field examinations and appraisals permitted under the preceding paragraph. Subject to and without
limiting the foregoing, the Borrowers specifically agree to pay the Administrative Agent’s then standard charges for examination activities, including the standard charges of the Administrative Agent’s internal appraisal group. This
Section 5.07 shall not be construed to limit the Administrative Agent’s right to use third parties for such purposes. 
 Section 5.08. Use of Proceeds. Use the proceeds of the Loans and the issuance of Letters of Credit solely for the purposes described in Section 3.11. 

Section 5.09. Compliance with Environmental Laws. Comply, and make commercially reasonable efforts to cause all lessees and
other Persons occupying its properties to comply, with all Environmental Laws applicable to its operations and properties; and obtain and renew all material authorizations and permits required pursuant to Environmental Law for its operations and
properties, in each case in accordance with Environmental Laws, except, in each case with respect to this Section 5.09, to the extent the failure to do so could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect. 
 Section 5.10. Further Assurances. 

(a) Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including
the filing and recording of financing statements, fixture filings, mortgages and other documents and recordings of Liens in stock registries or land title registries, as applicable), that may be required under any applicable law, or that the
Administrative Agent may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the applicable Loan Parties and provide to the Administrative Agent, from time to time upon reasonable
request, evidence reasonably satisfactory to the Administrative Agent as to the perfection and priority of the Liens created or intended to be created by the Security Documents. 

(b) Schedule 5.10 lists all of the Loan Parties’ owned Real Property as of the Closing Date. Each Borrower or Loan Party
shall, as applicable, on or prior to the date that is 180 days after the Closing Date (or 180 days after the date of acquisition in the case of Real Property acquired by a Loan Party after the Closing Date) grant to the Collateral Agent security
interests and mortgages in any owned Real Property of such Borrower or such Loan Party that is listed on Schedule 5.10 or is acquired after the Closing Date, in each case with a Fair Market Value of $5,000,000 or more pursuant to documentation in
such form as is reasonably satisfactory to the Administrative Agent (each, a “Mortgage”) and constituting valid and enforceable Liens subject to no other Liens except as are permitted by Section 6.04. Unless otherwise waived by
the 

  
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Administrative Agent, with respect to each such Mortgage, the applicable Loan Party shall deliver (at its expense) to the Administrative Agent contemporaneously therewith (i) a policy or
policies or marked up unconditional binder of title insurance insuring amounts reasonably determined by the Lead Borrower and, paid for by the Loan Parties, issued by a nationally recognized title insurance company insuring the Lien of each such
Mortgage as a valid first Lien on the Mortgaged Property described therein, free of any other Liens except as permitted by Section 6.04, together with such endorsements, coinsurance and reinsurance as the Administrative Agent may reasonably
request to the extent available at commercially reasonable rates and (ii) the legal opinions of local U.S. counsel in the state where such real property is located, in form and substance reasonably satisfactory to the Administrative Agent.

 (c) In the case of any Loan Party, (i) furnish to the Collateral Agent prompt written notice of any change (A) in
such Loan Party’s corporate or organization name, (B) in such Loan Party’s identity or organizational structure or (C) in such Loan Party’s organizational identification number; provided that no Loan Party shall
effect or permit any such change unless all filings have been made, or will have been made within any statutory period, under the UCC, or otherwise that are required in order for the Collateral Agent to continue at all times following such change to
have a valid, legal and perfected security interest in all the Collateral for the benefit of, among potentially other Secured Parties, the Finance Parties and (D) promptly notify the Administrative Agent if any material portion of the
Collateral is damaged or destroyed. 
 (d) The requirement to comply with the Collateral and Guarantee Requirement and the other
provisions of this Section 5.10. 
 Section 5.11. Fiscal Year. In the case of Holdings, the Borrowers,
cause their fiscal year to end on December 31. 
 Section 5.12. Post-Closing Matters. Execute and deliver the
documents and complete the tasks set forth in the definition of “Collateral and Guarantee Requirement,” to the extent not executed, delivered or completed on the Closing Date, in each case within the time periods specified therein
(including any extension of such time periods permitted by the Administrative Agent pursuant to the relevant paragraphs of the definition of “Collateral and Guarantee Requirement”). 

Section 5.13. Additional Guarantors and Security Coverage. 

(a) The Parent Borrower shall procure that any of its Domestic Subsidiaries which is listed as a Material Subsidiary pursuant to the most
recently delivered audited financial statements provided pursuant to Section 5.04(a) shall within 90 days after the date of delivery of such financial statements become a Guarantor and satisfy the Collateral and Guarantee Requirement
(provided that (i) the Administrative Agent may (in its reasonable discretion) extend such date and (ii) in no way event shall any Disregarded Domestic Subsidiary or any Domestic Subsidiary that is a Subsidiary of a Foreign
Subsidiary be required to be a Guarantor); provided further that this requirement shall not apply to Excluded Subsidiaries. 
 (b) On each date on which Holdings delivers audited financial statements pursuant to Section 5.04(a), Holdings will confirm whether the requirements in the proviso to the definition

  
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of “Material Subsidiary” have been met. In the event the thresholds set forth therein are not met, Holdings shall ensure that, within 60 days of the date on which the relevant audited
financial statements were delivered pursuant to Section 5.04(a), a sufficient number of Immaterial Subsidiaries are deemed Material Subsidiaries and, as applicable, satisfy the Collateral and Guarantee Requirement (provided that
the Administrative Agent may (in its reasonable discretion) extend such time period). 
 Notwithstanding anything herein
(including the definition of “Collateral and Guarantee Requirement”) (a) neither Holdings nor any of its Subsidiaries will be required to enter into any leasehold mortgages or take any action with respect to the perfection of security
interests in motor vehicles and other assets with certificates of title and (b) no actions in any non-U.S. jurisdiction shall be required in order to create or perfect any security interests in assets located or titled outside of the United
States (it being understood that there shall be no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction). 
 Section 5.14. Collateral Monitoring and Reporting. 
 (a) Borrowing
Base Certificates. By the 12th Business Day of each month, the Borrowers shall deliver to the Administrative Agent (and the Administrative Agent shall promptly deliver same to the Lenders) a Borrowing Base Certificate prepared as of the close of
business on the last Business Day of the previous month (provided that, if a Liquidity Event shall have occurred and be continuing, the Borrowers shall deliver to the Administrative Agent weekly Borrowing Base Certificates by the 3rd Business Day of
every week prepared as of the close of business on Friday of the previous week (or less frequently as required by the Administrative Agent), which weekly Borrowing Base Certificates shall be in standard form unless otherwise reasonably agreed to by
the Administrative Agent; it being understood that (i) Inventory amounts shown in the Borrowing Base Certificates delivered on a weekly basis will be based on the Inventory amount (a) set forth in the most recent weekly report, where
possible, and (b) for the most recently ended month for which such information is available with regard to locations where it is impracticable to report Inventory more frequently, and (ii) the amount of Eligible Accounts shown in such
Borrowing Base Certificate will be based on the amount of the gross Accounts set forth in the most recent weekly report, less the amount of ineligible Accounts reported for the most recently ended month). All calculations of Availability in any
Borrowing Base Certificate shall be made by the Borrowers and certified by a Responsible Officer. 
 (b) Certain Information
with Regard to Accounts. Each Borrower shall also provide to the Administrative Agent, on or before the date the Borrowing Base Certificate is delivered pursuant to clause (a) of this Section 5.14, (i) a detailed aged trial
balance of all Accounts as of the end of the preceding month, specifying each Account’s Account Debtor name and the amount, invoice date and due date, (ii) a reconciliation of Accounts Receivable to the general ledger and to the Borrowing
Base Certificate delivered pursuant to clause (a) of this Section 5.14 and (iii) a summary Inventory listing by category and a reconciliation of Inventory to the general ledger and to the Borrowing Base Certificate delivered pursuant
to clause (a) of this Section 5.14. 
 (c) Maintenance of Dominion Accounts. The Borrowers shall maintain
Dominion Accounts pursuant to lockbox or other arrangements reasonably acceptable to the Administrative 

  
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Agent and shall establish such lockbox or other arrangement as provided in clause (j) of the definition of “Collateral and Guarantee Requirement.” The Administrative Agent and the
Lenders assume no responsibility to the Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any check, draft or other item of payment payable to a Borrower (including
those constituting proceeds of Collateral) accepted by any bank. 
 (d) Proceeds of Collateral. The Borrowers shall
request in writing and otherwise take all necessary steps to ensure that all payments on Accounts (other than Accounts with balances less than $2,500,000) or otherwise relating to Current Asset Collateral are made directly to a Deposit Account
subject to a Deposit Account Control Agreement (or a lockbox relating to a Dominion Account). If any Borrower receives cash or any check, draft or other item of payment payable to a Borrower with respect to any Collateral, it shall hold the same in
trust for the Administrative Agent and promptly deposit the same into any such Deposit Account or Dominion Account. 
 (e)
Administration of Deposit Accounts. Schedule 5.14 sets forth all Deposit Accounts (other than Excluded Deposit Accounts) maintained by the Loan Parties, including all Dominion Accounts, as of the Closing Date. Subject to clause
(j) of the definition of “Collateral and Guarantee Requirement,” each Loan Party shall take all actions necessary to establish the Administrative Agent’s control (within the meaning of the UCC) over each such Deposit Account
other than Excluded Deposit Accounts and Deposit Accounts that do not have cash balances at any time exceeding $5,000,000 in the aggregate for all such Deposit Accounts at all times or exceed $2,500,000 with respect to any one Deposit Account. Each
Loan Party shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than the Administrative Agent and the Notes Trustee) to have control over a Deposit Account or any deposits therein. 

(f) Holdings will not engage in any business other than: (a) ownership and acquisition of Equity Interests in a Lead Borrower,
together with activities directly related thereto, (b) performance of its obligations under and in connection with the Loan Documents and Senior Notes (and Permitted Refinancing Indebtedness in respect thereof) and the other agreements
contemplated hereby and thereby, (c) actions required by law to maintain its existence, (d) the payment of taxes, fees, costs and other customary obligations, (e) the issuance of Equity Interests, (f) activities incidental to the
consummation of the Transactions, (g) the indemnification of officers and directors and (h) activities incidental to its maintenance and continuance and to the foregoing activities. 

Section 5.15. Fiscal Year. Each Loan Party will, and cause its Restricted Subsidiaries to, maintain the fiscal year such
Person had as of the Closing Date unless otherwise consented to by the Administrative Agent (such consent not to be unreasonably withheld, delayed or conditioned). 

  
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 ARTICLE VI 
 NEGATIVE COVENANTS 
 The Lead Borrower covenants and agrees with each Lender that
so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document have been paid in full and all
Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing: 

Section 6.01. Restricted Payments. 
 (a) Lead Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (i) declare or pay any dividend or make any other payment or distribution on account of Lead Borrower’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation,
any payment in connection with any merger or consolidation involving the Lead Borrower or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Lead Borrower’s or any of its Restricted Subsidiaries’ Equity
Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Lead Borrower and other than dividends or distributions payable to the Lead Borrower or a Restricted
Subsidiary of the Lead Borrower); 
 (ii) purchase, redeem or otherwise acquire or retire for value (including,
without limitation, in connection with any merger or consolidation involving the Lead Borrower) any Equity Interests of the Lead Borrower or any direct or indirect parent of the Lead Borrower; 

(iii) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value, any
Indebtedness of any Loan Party that is contractually subordinated to all of the Revolving Facility, the Guarantees given pursuant to the Loan Document Guarantee, the Senior Notes and any Note Guarantees (excluding any intercompany Indebtedness
between or among the Lead Borrower and any of its Restricted Subsidiaries) or (y) the purchase, repurchase or other acquisition of Indebtedness that is contractually subordinated to the Revolving Facility, the Guarantees given pursuant to the
Loan Document Guarantee, the Senior Notes and any Note Guarantee, as the case may be, purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of
purchase, repurchase or acquisition), except a payment of interest or principal at the stated maturity thereof; 

(iv) make any Restricted Investment; or 

(v) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value the
Senior Notes and any Note Guarantees other than regularly scheduled interest and principal payments thereof; 

  
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 (all such payments and other actions set forth in these clauses (i) through to (v) above being
collectively referred to as “Restricted Payments”), unless, at the time of and after giving effect to such Restricted Payment (x) under clauses (i) and (ii) above the Dividend Restricted Payment Conditions are met and
(y) under clauses (iii), (iv) and (v) above the Other Payment Conditions are met. 
 (b) The preceding provisions
will not prohibit: 
 (i) the payment of any dividend or distribution or the consummation of any redemption
within 60 days after the date of declaration of the dividend or distribution or giving of the redemption notice, as the case may be, if, at the date of declaration or notice, the dividend, distribution or redemption payment would have complied with
the provisions of this Agreement; 
 (ii) the making of any Restricted Payment in exchange for, or out of the net
cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Lead Borrower) of, Equity Interests of the Lead Borrower or any direct or indirect parent company of the Lead Borrower (other than Disqualified Stock) or from the
substantially concurrent contribution of common equity capital to the Lead Borrower; 
 (iii) the repurchase,
redemption, defeasance or other acquisition or retirement for value of Indebtedness of the Lead Borrower or any Restricted Subsidiary with the net cash proceeds from a substantially concurrent incurrence of Permitted Refinancing Indebtedness;

 (iv) the payment of any dividend (or, in the case of any partnership or limited liability company, any similar
distribution) by a Restricted Subsidiary of the Lead Borrower to the holders of its Equity Interests on a pro rata basis; 
 (v) The repurchase, redemption or other acquisition or retirement (or dividends or distributions to any direct or indirect parent company of the Lead Borrower to finance any such repurchase, redemption or
other acquisition or retirement) for value of any Equity Interests of the Lead Borrower or any Restricted Subsidiary of the Lead Borrower or any direct or indirect parent company of the Lead Borrower held by any current or former officer, director,
consultant or employee of the Lead Borrower or any of its Restricted Subsidiaries or any direct or indirect parent company of the company pursuant to any equity subscription agreement, stock option agreement, shareholders’ or members’
agreement or similar agreement, plan or arrangement, including any Equity Interests rolled over by management of the Lead Borrower or any direct or indirect parent of the Lead Borrower in connection with the Transactions; provided that the
aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests may not exceed $10.0 million in any calendar year (which shall increase to $20.0 million subsequent to the consummation of any underwritten public Equity
Offering by the Lead Borrower or any of its direct or indirect parent entities) (with unused amounts in any calendar year being permitted to be carried over for the two succeeding calendar years); provided further, that the amount in any
calendar year may be increased by an amount not to exceed: 

  
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 (A) The cash proceeds received by the Lead Borrower or any of its Restricted
Subsidiaries from the sale of Equity Interests (other than Disqualified Stock) of the Lead Borrower or any direct or indirect parent company of the Lead Borrower (to the extent contributed to the Lead Borrower) to members of management, directors or
consultants of the Lead Borrower and its Restricted Subsidiaries or any direct or indirect parent company of the Lead Borrower that occurs after the Closing Date (provided that the amount of such cash proceeds utilized for any such
repurchase, retirement, other acquisition, or dividend or distribution will not increase the amount available for the Restricted Payments under clause (C) of the immediately preceding paragraph; plus  

(B) The cash proceeds of key man life insurance policies received by the Lead Borrower or any direct or indirect parent
company of the Lead Borrower (to the extent contributed to the Lead Borrower) and its Restricted Subsidiaries after the Closing Date; 

(provided that the Lead Borrower may elect to apply all or any portion of the aggregate increase contemplated by clauses (A) and
(B) above in any single calendar year); 
 (vi) the repurchase of Equity Interests deemed to occur upon the
exercise of stock options or warrants to the extent such Equity Interests represent a portion of the exercise price of those stock options or warrants; 
 (vii) Permitted Payments to Parent; 
 (viii) other Restricted
Payments in an aggregate amount not to exceed $50.0 million since the Closing Date; 
 (ix) the satisfaction of
change of control obligations and asset sale obligations once the Borrowers have fulfilled their obligations under the Revolving Facility and the Senior Notes with respect to a Change of Control or an Asset Sale; 

(x) the repayment of intercompany debt that was permitted to be incurred under this Agreement; 

(xi) cash dividends or other distributions on the Lead Borrower’s Capital Stock used to, or the making of loans to
any direct or indirect parent of the Lead Borrower to, fund the payment of fees and expenses owned by the Lead Borrower or its Restricted Subsidiaries to Affiliates, to the extent permitted by Section 6.07 (other than under
Section 6.07(b)(vi)); 
 (xii) the payment of dividends or distributions on the Lead Borrower’s
common equity (or the payment of dividends or distributions to a direct or indirect parent company of the Lead Borrower to fund the payment by such parent company of dividends or distributions on its common equity) of up to 6.0% per calendar
year of the net proceeds received by the Lead Borrower from any public Equity Offering (other than a Qualifying MLP IPO) or contributed to the Lead Borrower by a direct or indirect parent company of the Lead Borrower from any public Equity Offering
(other than a Qualifying MLP IPO); provided that the amount of any such net cash proceeds that are utilized for any such Restricted Payment will be excluded from clause (C)(3) of the preceding paragraph; and 

  
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 (xiii) the distribution, as a dividend or otherwise, of shares of Capital
Stock of, or Indebtedness owed to the Lead Borrower or a Restricted Subsidiary of the Lead Borrower by, Unrestricted Subsidiaries; 
 (xiv) any Restricted Payment made in connection with the Transactions and the fees and expenses related thereto; 
 (xv) cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible or exchangeable for Capital Stock of the MLP;

 (xvi) [reserved]; and 
 (xvii) any MLP Drop-Down to the extent constituting an Investment. 
 (c) The
amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Lead Borrower or such Restricted Subsidiary, as the
case may be, pursuant to the Restricted Payment. In the event that a Restricted Payment meets the criteria of more than one of the exceptions described in Section 6.01(b)(i) through (b)(xvii) above or is entitled to be made
pursuant to the first paragraph above, the Lead Borrower shall, in its sole discretion, classify such Restricted Payment. 

Section 6.02. Incurrence of Indebtedness and Issuance of Preferred Equity. 

(a) The Lead Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue,
assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Lead Borrower will not issue any
Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of preferred equity; provided, however, that the Lead Borrower may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock,
and the Lead Borrower or any other Restricted Subsidiary may incur Indebtedness (including Acquired Debt) or issue preferred equity, if (v) on the date thereof the Other Debt Covenant Ratio for the Lead Borrower’s most recently ended four
full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or such preferred equity is issued, as the case may be, would have
been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred equity had been issued, as
the case may be, at the beginning of such four-quarter period, (w) it matures (or is otherwise payable or requires any sinking fund or other mandatory payment) no earlier than the date that is ninety-one (91) days after the Maturity Date,
(x) after giving effect to the incurrence of such Indebtedness no Default or Event of Default exists and (z) to the extent such Indebtedness is secured by a Lien, such Liens either (A) do not extend to any Revolving Facility Priority
Collateral or (B) are secured on a junior basis to the Liens securing the Obligations on any 

  
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Revolving Facility Priority Collateral and, in the case of this clause (B) relating to Indebtedness for borrowed money, are subject to the terms of the Intercreditor Agreement or a Junior
Lien Intercreditor Agreement, as applicable; provided, however incurrence of Indebtedness and issues Disqualified Stock and preferred equity by Persons that do not become Loan Parties shall be capped at $15.0 million. 

(b) Paragraph (a) above will not prohibit the incurrence of any of the following items of Indebtedness (collectively,
“Permitted Debt”): 
 (i) the incurrence by the Lead Borrower and its Restricted Subsidiaries of
Indebtedness to the extent outstanding on the Closing Date; 
 (ii) (a) the incurrence by the Lead Borrower
and its Restricted Subsidiaries (including any future Guarantor) of Indebtedness represented by the Senior Notes issued on the Closing Date and related Notes Guarantees, in each case, subject to the terms of the Intercreditor Agreement and
(b) the incurrence of Indebtedness pursuant to the Loan Documents; 
 (iii) the incurrence by the Lead
Borrower or any of its Restricted Subsidiaries of Indebtedness represented by (A) Capital Lease Obligations; and (B) other Capital Lease Obligations, mortgage financings, industrial revenue bonds, purchase money obligations or other
Indebtedness or preferred stock, or synthetic lease obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of design, development, construction, installation or improvement of property (real or
personal and including Capital Stock), plant or equipment used in the business of Holdings or any of its Restricted Subsidiaries (in each case, whether through the direct purchase of such assets or the Equity Interests of any Person owning such
assets), in an aggregate principal amount under this clause (B) not to exceed at any time outstanding the greater of (x) $40 million and 5.0% of Total Assets; provided that Capital Lease Obligations incurred by the Lead Borrower or
any Restricted Subsidiary of the Lead Borrower pursuant to this clause (iii) in connection with a sale and leaseback transaction shall not be subject to the foregoing limitation so long as the proceeds of such sale and leaseback transaction are
used by the Company or such Restricted Subsidiary to permanently repay outstanding Indebtedness of the Company and the Restricted Subsidiaries; 
 (iv) the incurrence by the Lead Borrower or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to renew, refund, refinance,
replace, defease or discharge any Indebtedness (other than intercompany Indebtedness) that was permitted to be incurred under Section 6.02(a) or clauses (i), (ii), (iii), (iv), (v), or (xii) of this
Section 6.02(b); 
 (v) the incurrence by the Lead Borrower or any of its Restricted Subsidiaries of
intercompany Indebtedness and cash management pooling obligations and arrangements between or among the Lead Borrower and any of its Restricted Subsidiaries; provided, however, that: 

  
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 (A) if the Lead Borrower or any Loan Party is the obligor on such
Indebtedness (other than cash management pooling obligations) and the payee is not the Lead Borrower or a Loan Party, such Indebtedness must be expressly subordinated to the Full Payment of the Secured Obligations; and 

(B) (x) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a
Person other than the Lead Borrower or a Restricted Subsidiary of the Lead Borrower and (y) any sale or other transfer of any such Indebtedness to a Person that is not either Holdings or a Restricted Subsidiary of the Lead Borrower, will be
deemed, in each case, to constitute an incurrence of such Indebtedness by the Lead Borrower such Restricted Subsidiary, as the case may be, that was not permitted by this clause (b)(vi); 

(vi) the issuance by any of the Lead Borrower’s Restricted Subsidiaries to the Lead Borrower or to any of its
Restricted Subsidiaries of shares of preferred equity; provided, however, that: 
 (A) any
subsequent issuance or transfer of Equity Interests that results in any such preferred equity being held by a Person other than the Lead Borrower or a Restricted Subsidiary of the Lead Borrower, and 

(B) any sale or other transfer of any such preferred equity to a Person that is not either the Lead Borrower or a
Restricted Subsidiary of the Lead Borrower, 
 will be deemed, in each case, to constitute an issuance of such preferred equity by such
Restricted Subsidiary that was not permitted by this clause (vii); 
 (vii) the incurrence by the Lead Borrower
or any of its Restricted Subsidiaries of Hedging Obligations other than for speculative purposes; 
 (viii) the
guarantee by the Lead Borrower or any of its Restricted Subsidiaries of Indebtedness and cash management pooling obligations and arrangements of the Lead Borrower or a Restricted Subsidiary of the Lead Borrower; provided that if the
Indebtedness being guaranteed shall be subordinated to the Obligations the Guarantee shall be so subordinated; 

(ix) the incurrence by the Lead Borrower or any of its Restricted Subsidiaries of Indebtedness in respect of workers’
compensation claims, payment obligations in connection with health or other types of social security benefits, unemployment or other insurance or self-insurance obligations, reclamation, statutory obligations, bankers’ acceptances, bid,
performance, surety or similar bonds and letters of credit or completion or performance guarantees (including without limitation, performance guarantees pursuant to flying contracts, supply agreements or equipment leases), or other similar
obligations in the ordinary course of business or consistent with past practice; 
 (x) the incurrence by the
Lead Borrower or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds; 

  
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 (xi) Indebtedness, Disqualified Stock or preferred equity of the Lead
Borrower or any Restricted Subsidiary incurred or issued to finance an acquisition or of Persons that are acquired by the Lead Borrower or any of its Restricted Subsidiaries or merged into a Restricted Subsidiary in accordance with the terms of this
Agreement; provided that (w) such Indebtedness, Disqualified Stock or preferred equity matures no earlier than (and requires no sinking fund or other payment) the date that is ninety-one (91) days after the Maturity Date,
(x) after giving effect to the incurrence of such Indebtedness, Disqualified Stock or preferred equity no Default or Event of Default exists and (z) to the extent such Indebtedness is secured by a Lien, such Liens either (A) do not
extend to any Revolving Facility Priority Collateral or (B) are secured on a junior basis to the Liens securing the Obligations on any Revolving Facility Priority Collateral and, in the case of this clause (B) relating to Indebtedness for
borrowed money, are subject to the terms of the Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable provided, however, that for any such indebtedness outstanding under this clause (xi) in excess of
$40.0 million, after giving effect to such acquisition and the incurrence of such Indebtedness, Disqualified Stock and preferred equity either: 
 (A) the Lead Borrower would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Other Debt Covenant Ratio test set forth in the first sentence of this covenant available
immediately preceding the date on which such additional Indebtedness is incurred of least 2.0 to 1.0, determined on a pro forma basis; or 
 (B) the Other Debt Covenant Ratio would not be less than immediately prior to such acquisition; 
 (xii) the incurrence of unsecured Indebtedness, Indebtedness Secured on a pari passu basis with the Senior Notes and/or Junior Lien Indebtedness by Holdings or a Restricted Subsidiary in an aggregate
amount not to exceed $100.0 million; provided that (x) if such Indebtedness matures earlier than the date that is ninety-one (91) days after the Maturity Date, the Administrative Agent shall have the right to establish a reserve
against Availability in an amount equal to the principal amount of such Indebtedness, (y) after giving effect to the incurrence of such Indebtedness no Default or Event of Default exists and (z) to the extent such Indebtedness is secured
by a Lien, such Liens either (A) do not extend to any Revolving Facility Priority Collateral or (B) are secured on a junior basis to the Liens securing the Obligations on any Revolving Facility Priority Collateral and, in the case of this
clause (B) relating to Indebtedness for borrowed money, are subject to the terms of the Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable; 

(xiii) the incurrence of Indebtedness arising from agreements of the Lead Borrower or a Restricted Subsidiary providing
for indemnification, adjustment of purchase price, earn outs, or similar obligations, in each case, incurred or assumed in connection with the disposition or acquisition of any business, assets or a Subsidiary in accordance with the terms of this
Agreement, other than guarantees of Indebtedness incurred or assumed by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; and 

  
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 (xiv) the incurrence by the Lead Borrower or any of its Restricted
Subsidiaries of additional Indebtedness or the issuance of Disqualified Stock or preferred equity in an aggregate principal amount (or accreted value, as applicable) or having an aggregate liquidation preference at any time outstanding not to exceed
the greater of $100 million or 7.5% of Total Assets (it being understood that any Indebtedness, Disqualified Stock or preferred equity incurred pursuant to this clause (xiv) shall cease to be deemed incurred or outstanding for purposes of this
covenant from and after the date on which the Lead Borrower could have incurred such Indebtedness or Disqualified Stock or preferred equity under the first paragraph of this covenant without reliance upon this clause (xiv)); provided to the extent
such Indebtedness is secured by a Lien, such Liens either (A) do not extend to any Revolving Facility Priority Collateral or (B) are secured on a junior basis to the Liens securing the Obligations on any Revolving Facility Priority
Collateral and, in the case of this clause (B) relating to Indebtedness for borrowed money, are subject to the terms of the Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable; 

(xv) Indebtedness of Restricted Subsidiaries of the Company that are not Guarantors in an amount not to exceed, in the
aggregate at any one time outstanding the greater of (x) $40.0 million and (y) 10.0% of Total Non-Guarantor Assets (it being understood that any Indebtedness incurred pursuant to this clause (xv) shall cease to be deemed
incurred or outstanding for purposes of this clause (xv) but shall be deemed incurred for the purposes of the first paragraph of this covenant from and after the first date on which such Restricted Subsidiary could have incurred such
Indebtedness under the first paragraph of this covenant without reliance on this clause (xv)); 
 (xvi)
any “bad boy”, or springing recourse, guarantee by the Lead Borrower or any Restricted Subsidiary of the Lead Borrower that is the parent company of an MTBE Subsidiary or Permitted MTBE Joint Venture of Indebtedness of an MTBE Subsidiary
or Permitted MTBE Joint Venture so long as such Indebtedness (x) is incurred by such MTBE Subsidiary or Permitted MTBE Joint Venture in connection with its ownership, development, use or operation of its MTBE Assets and (y) such
Indebtedness is otherwise non-recourse to the Lead Borrower and its Restricted Subsidiaries (other than any MTBE Subsidiary): 
 (xvii) the incurrence by the Lead Borrower or any of its Restricted Subsidiaries of Indebtedness in connection with the MLP Formation Transactions to the extent such Indebtedness is extinguished in
connection with the proceeds from a Qualifying MLP IPO; 
 (xviii) [reserved]; and 

(xix) Indebtedness of the Lead Borrower or any Restricted Subsidiary of Lead Borrower consisting of (x) the financing
of insurance premiums or (y) take or pay obligations contained in supply arrangements, in each case, in the ordinary course of business. 

  
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 (c) The Lead Borrower will not incur, and will not permit any Guarantor to incur, any
Indebtedness (including Permitted Debt) that is contractually subordinated in right of payment to any other Indebtedness of the Borrower or such Guarantor unless such Indebtedness is also contractually subordinated in right of payment to the
Revolving Facility on substantially identical terms (or terms more favorable to the Lenders under the Revolving Facility); provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to
any other Indebtedness solely by virtue of being unsecured or by virtue of being secured on a first or junior Lien basis. 
 (d)
For purposes of determining compliance with this Section 6.02, in the event that an item of proposed Indebtedness, Disqualified Stock or preferred equity meets the criteria of more than one of the categories of Permitted Debt described
in Section 6.02(b) above, or is entitled to be incurred pursuant to the first paragraph of this covenant, Holdings will be permitted to classify such item of Indebtedness, Disqualified Stock or preferred equity on the date of its
incurrence and will only be required to include the amount and type of such Indebtedness, Disqualified Stock or preferred equity in one of the above clauses, although Holdings may divide and classify an item of Indebtedness, Disqualified Stock or
preferred equity in one or more of the types of Indebtedness, Disqualified Stock or preferred equity and may later reclassify all or a portion of such item of Indebtedness, Disqualified Stock or preferred equity, in any manner that complies with
this covenant. The accrual of interest or dividends, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred
equity as Indebtedness due to a change in accounting principles, the payment of dividends on Disqualified Stock or preferred equity in the form of additional shares of the same class of Disqualified Stock or preferred equity and unrealized losses or
charges in respect of Hedging Obligations (including those resulting from the application of Standards Codification No. 815—Derivatives and Hedging (formerly SFAS 133)) or any comparable standard relating to hedge accounting) will not be
deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock or preferred equity for purposes of this covenant; provided, in each such case (other than preferred stock that is not Disqualified Stock), that the amount of any
such accrual, accretion or payment is included in Fixed Charges of the Lead Borrower as accrued. Notwithstanding any other provision of this covenant, the maximum amount of Indebtedness that the Lead Borrower or any Restricted Subsidiary may incur
pursuant to this covenant shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values. 
 (e) For purposes of determining compliance with any U.S. dollar denominated restriction on the incurrence of Indebtedness where the Indebtedness incurred is denominated in a different currency, the amount
of such Indebtedness will be the U.S. Dollar Equivalent determined on the date of the establishment of the facility or instrument under which such Indebtedness was incurred; provided, however, that if such Indebtedness denominated in a
different currency is subject to a Currency Agreement with respect to U.S. dollars, covering all principal, premium, if any, and interest payable on such Indebtedness, the amount of such Indebtedness expressed in U.S. dollars will be as provided in
such Currency Agreement. The principal amount of any refinancing Indebtedness incurred in the same currency as the Indebtedness being refinanced will be the U.S. Dollar Equivalent of the Indebtedness refinanced, except to the extent that
(i) such U.S. Dollar Equivalent was determined based on a Currency Agreement, in which case the refinancing Indebtedness will be determined in accordance with 

  
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the preceding sentence, and (ii) the principal amount of the refinancing Indebtedness exceeds the principal amount of the Indebtedness being refinanced, in which case the U.S. Dollar
Equivalent of such excess, as appropriate, will be determined on the date such refinancing Indebtedness is incurred. 
 (f) The
amount of any Indebtedness outstanding as of any date will be: 
 (i) the accreted value of the Indebtedness, in
the case of any Indebtedness issued with original issue discount; 
 (ii) the principal amount of the
Indebtedness, in the case of any other Indebtedness; and 
 (iii) in respect of Indebtedness of another Person
secured by a Lien on the assets of the specified Person, the lesser of: 
 (A) the Fair Market Value of such
assets at the date of determination; and 
 (B) the amount of the Indebtedness of the other Person. 

Section 6.03. Asset Sales. 
 (a) The Lead Borrower will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless the Lead Borrower (or the Restricted Subsidiary, as the case may be) receives
consideration at the time of the Asset Sale at least equal to the Fair Market Value (such Fair Market Value to be determined on the date of contractually agreeing to such Asset Sale) of the assets or Equity Interests issued or sold or otherwise
disposed of; and 
 (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Lead Borrower (or the
applicable Restricted Subsidiary, as the case may be) may: 
 (i) apply such Net Proceeds, at its option:

 (A) (1) to the extent the Net Proceeds constitute proceeds of Revolving Facility Priority Collateral
repay Loans (other than Swingline Loans) pursuant to Section 2.11(e) (and, in the case of repayment of Revolving Facility Loans, correspondingly and permanently reduce commitments under the Revolving Facility) or (2) to the extent
the Net Proceeds constitute proceeds of Notes Priority Collateral redeem or purchase Senior Notes, by way of optional redemption, open-market purchases (to the extent such purchases are at or above 100% of the principal amount thereof) or an
“Asset Sale Offer” in accordance with the terms of the Senior Notes Indenture; or 
 (B) in
reinvestment in the business of the Lead Borrower and its Subsidiaries by (1) acquiring all or substantially all of the assets of, or any Capital Stock of, another Permitted Business (provided, that in the case of any such acquisition of
Capital Stock, such Person is or becomes a Restricted Subsidiary of the Lead Borrower), (2) acquiring other short- or long-term assets that are not classified as current assets under GAAP and that are used or useful in a Permitted Business, or
(3) investing in Additional Assets; or 

  
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 (ii) enter into a binding commitment to apply the Net Proceeds pursuant to
paragraph (i) above, provided that such binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment until the earlier of (x) the date on which such acquisition or
expenditure is consummated, and (y) the 180th day following the expiration of the aforementioned 365 day period. 

Section 6.04. Liens. The Lead Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, create, incur, assume or suffer to exist any Lien that secures Indebtedness of the Lead Borrower or its Restricted Subsidiaries, on any asset or property of the Lead Borrower or any Restricted Subsidiary, or any income or profits
therefrom, or assign or convey any right to receive income therefrom in each such case to the extent such asset, property, income or profits constitute Collateral, except that, the foregoing shall not apply to Permitted Liens. 

Section 6.05. Dividend and other Payment Restrictions Affecting Subsidiaries 

(a) The Lead Borrower will not, and will not permit any of its Restricted Subsidiaries that is not a Loan Party to, directly or
indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of the Lead Borrower or any Restricted Subsidiary that is not a Loan Party to: 

(i) pay dividends or make any other distributions on its Capital Stock to the Lead Borrower or any of its Restricted
Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Lead Borrower or any of its Restricted Subsidiaries; 

(ii) make loans or advances to the Lead Borrower or any of its Restricted Subsidiaries; or 

(iii) sell, lease or transfer any of its properties or assets to the Lead Borrower or any of its Restricted Subsidiaries.

 (b) However, the preceding restrictions will not apply to encumbrances or restrictions existing under or by reason of:

 (i) agreements governing Indebtedness outstanding on the Closing Date, this Agreement and Credit Facilities as
in effect on the Closing Date and any amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings of those agreements; provided that the amendments, restatements, modifications, renewals,
supplements, refundings, replacements or refinancings are materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in those agreements on the Closing Date; 

(ii) the Senior Notes Indenture, the Senior Notes the Note Guarantees, the documentation governing any Indebtedness
permitted to be incurred under Section 6.02 

  
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and secured on a pari passu or junior basis to the Liens securing the Senior Notes, so long as they are subject to the terms of the Intercreditor Agreement or Junior Lien Intercreditor Agreement,
as applicable (to the extent they remain secured by Liens), and in each case the security documents or similar agreements related thereto; 
 (iii) applicable law, rule, regulation, order, approval, license, permit or similar restriction; 
 (iv) any instrument governing Indebtedness or Capital Stock of a Person acquired by the Lead Borrower or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the
extent such Indebtedness or Capital Stock was incurred in connection with or in contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person,
or the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness was permitted by the terms of this Agreement to be incurred; 

(v) non-assignment provisions or subletting restrictions in contracts, leases and licenses entered into in the ordinary
course of business; 
 (vi) purchase money obligations for property (including Capital Stock) acquired in the
ordinary course of business and Capital Lease Obligations that impose restrictions on the property purchased or leased of the nature described in Section 6.02(b)(iii); 

(vii) any agreement for the sale or other disposition of the Capital Stock or assets of a Restricted Subsidiary that
restricts distributions by that Restricted Subsidiary pending closing of the sale or other disposition; 
 (viii)
Permitted Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements
governing the Indebtedness being refinanced; 
 (ix) Liens permitted to be incurred under
Section 6.04 that limit the right of the debtor to dispose of the assets securing such Indebtedness; 

(x) provisions limiting the disposition or distribution of assets or property or transfer of Capital Stock in joint
venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements, limited liability company organizational documents, and other similar agreements entered into in the ordinary course of business, consistent with past
practice or with the approval of the Lead Borrower’s or Holdings’ Board of Directors, which limitation is applicable only to the assets, property or Capital Stock that are the subject of such agreements; 

(xi) restrictions on cash, Cash Equivalents, Marketable Securities or other deposits or net worth imposed by customers or
lessors under contracts or leases entered into in the ordinary course of business; 

  
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 (xii) other Indebtedness of Restricted Subsidiaries that are not Loan
Parties that is incurred subsequent to the Closing Date pursuant to Section 6.02; 
 (xiii)
encumbrances on property that exist at the time the property was acquired by Holdings or a Restricted Subsidiary; 
 (xiv) contractual encumbrances or restrictions in effect on the Closing Date, and any amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings of those
agreements; provided that the amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings are not materially more restrictive, taken as a whole, with respect to such dividend and other payment
restrictions than those contained in those agreements on the Closing Date; 
 (xv) any encumbrance or restriction
with respect to an Unrestricted Subsidiary pursuant to or by reason of an agreement that the Unrestricted Subsidiary is a party to or entered into before the date on which such Unrestricted Subsidiary became a Restricted Subsidiary; provided
that such agreement was not entered into in anticipation of the Unrestricted Subsidiary becoming a Restricted Subsidiary and any such encumbrance or restriction does not extend to any assets or property of Holdings or any other Restricted
Subsidiary other than the assets and property of such Unrestricted Subsidiary; 
 (xvi) any encumbrance or
restriction contained in the terms of any Indebtedness or any agreement pursuant to which such Indebtedness was incurred if either (x) the encumbrance or restriction applies only in the event of a payment default or a default with respect to a
financial covenant in such Indebtedness or agreement or (y) the Lead Borrower determines that any such encumbrance or restriction will not materially affect the Lead Borrower’s ability to make principal or interest payments on the
Revolving Facility or the Senior Notes, as determined in good faith by the Board of Directors of the Lead Borrower whose determination shall be conclusive; 
 (xvii) provisions with respect to the receipt of a rebate on an operating lease until all obligations due to a lessor on other operating leases are satisfied or other customary restrictions in respect of
assets or contract rights acquired by a Restricted Subsidiary in connection with a sale and leaseback transaction; 
 (xix) customary provisions in master limited partnership agreements, joint venture agreements or arrangements and other similar agreements or arrangements relating solely to such master limited
partnership or joint venture; 
 (xx) encumbrances and restrictions contained in contracts entered into in the
ordinary course of business, not relating to any Indebtedness, and that do not, individually or in the aggregate, detract from the value of property or assets of the Lead Borrower or any Restricted Subsidiary of the Lead Borrower or the ability of
the Lead Borrower or such Restricted Subsidiary to realize such value, or to make any distributions relating to such property or assets in each case in any material respect; 

  
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 (xxi) any encumbrances or restrictions imposed by any amendments or
refinancings of the contracts, instruments or obligations referred to above in Section 6.05(b)(i) through Section 6.05(b)(xx) above; provided that such encumbrances and restrictions contained in amendments or
refinancings are not materially more restrictive, taken as a whole, than such encumbrances and restrictions prior to such amendment or refinancing. 
 For purposes of determining compliance with this covenant, (i) the priority of any preferred stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions
being paid on ordinary shares shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made to the Lead Borrower or a Restricted Subsidiary to other Indebtedness
Incurred by the Lead Borrower or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 
 Section 6.06. Consolidation, Amalgamation, Merger, or Sale of Assets. 

(a) The Lead Borrower will not, directly or indirectly: (1) consolidate, amalgamate or merge with or into another Person; or
(2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the Lead Borrower’s properties or assets (determined on a consolidated basis for the Lead Borrower and its Restricted Subsidiaries) in one or more
related transactions to another Person, unless: 
 (i) (a) the Lead Borrower is the surviving entity; or
(b) the Person formed by or surviving any such consolidation or merger (if other than the Lead Borrower) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation, partnership (including a
master limited partnership) or limited liability company organized or existing under the laws of the United States, any state of the United States or the District of Columbia; 

(ii) the Person formed by or surviving any such consolidation or merger (if other than the Lead Borrower) or the Person to
which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Lead Borrower, as the case may be, under the Loan Documents pursuant to arrangements reasonably satisfactory to the Collateral
Agent; and 
 (iii) immediately before and after giving effect to such transaction the Other Payment Conditions
are met. 
 In addition, the Borrower will not, directly or indirectly, lease all or substantially all of the properties and assets of it and
its Restricted Subsidiaries taken as a whole, in one or more related transactions, to any other Person. 
 (b)
Section 6.06(a) will not apply to: 
 (i) any consolidation, amalgamation, merger, or any sale,
assignment, transfer, conveyance, lease or other disposition of assets between or among the Lead Borrower and any Loan Party; 

  
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 (ii) a merger of the Lead Borrower with an Affiliate solely for the purpose
of reincorporating the Lead Borrower under the laws of the United States, any state of the United States or the District of Columbia; and 
 (iii) any transaction contemplated by the Merger Agreement. 
 (c) A Subsidiary
Loan Party may not sell or otherwise dispose of all or substantially all of its assets to, or consolidate with or merge with or into (whether or not such Subsidiary Loan Party is the surviving Person), another Person, other than the Lead Borrower or
another Subsidiary Loan Party, unless immediately before and after giving effect to such transaction the Other Payment Conditions are met. 
 Section 6.07. Transactions with Affiliates. 
 (a) The Lead Borrower
will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend
any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Lead Borrower (each, an “Affiliate Transaction”), involving aggregate consideration in excess of $10.0
million, unless: 
 (i) the Affiliate Transaction is on terms that are not materially less favorable to the Lead
Borrower or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Lead Borrower or such Restricted Subsidiary with an unrelated Person; and 

(ii) the Lead Borrower delivers to the Administrative Agent (x) with respect to any Affiliate Transaction or series
of related Affiliate Transactions involving aggregate consideration in excess of $40.0 million, a resolution of the Board of Directors of Holdings or the Lead Borrower certifying that such Affiliate Transaction complies with this covenant and that
such Affiliate Transaction has been approved by a majority of the disinterested members, if any, of the Board of Directors of Holdings or the Lead Borrower. 
 (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions of Section 6.07(a): 

(i) any employment agreement, employee benefit plan, officer or director indemnification agreement or any similar
arrangement entered into by the Lead Borrower or any of its Restricted Subsidiaries in the ordinary course of business or consistent with past practice and payments pursuant thereto; 

(ii) transactions between or among Holdings and/or any of its Restricted Subsidiaries; 

(iii) transactions with a Person (other than an Unrestricted Subsidiary of the Lead Borrower) that is an Affiliate of the
Lead Borrower solely because the Lead Borrower owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; 

  
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 (iv) payment of reasonable fees to, and indemnity provided on behalf of,
officers, directors, employees or consultants of the Lead Borrower or any of its Restricted Subsidiaries or any direct or indirect parent company of the Lead Borrower; 

(v) any contribution to the capital of the Lead Borrower or any issuance of Equity Interests (other than Disqualified
Stock) of the Lead Borrower to Affiliates of the Lead Borrower or to any director, officer, employee or consultant of the Lead Borrower or any direct or indirect parent company of the Lead Borrower, and the granting and performance of registration
rights; 
 (vi) Restricted Payments and Investments that do not violate Section 6.01; 

(vii) the entering into any agreement to pay, and the payment of, customary annual management, consulting, monitoring and
advisory fees to the Equity Investors in an amount not to exceed in any four quarter period the greater of (x) $2.5 million and (y) 1.0% of Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries for such period and
related expenses; 
 (viii) loans or advances to employees or consultants in the ordinary course of business or
consistent with past practice; 
 (ix) any transaction in which the Lead Borrower or any of its Restricted
Subsidiaries, as the case may be, delivers to the Administrative Agent a letter from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Lead Borrower or such Restricted Subsidiary
from a financial point of view or that such transaction meets the requirements of Section 6.07(a)(i); 
 (x) the existence of, or the performance by the Lead Borrower or any of its Restricted Subsidiaries of its obligations under the terms of, any acquisition agreements or members’ or stockholders
agreement or related documents to which it is a party as of the Closing Date and any amendment thereto or similar agreements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Lead
Borrower or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such existing agreement or under any similar agreement entered into after the Closing Date shall only be permitted by this
Section 6.07(b)(x) to the extent that the terms of any such existing agreement, together with all amendments thereto, taken as a whole, or such new agreement are not otherwise more disadvantageous to the Lenders taken as a whole than the
original agreement as in effect on the Closing Date; 
 (xi) transactions with Unrestricted Subsidiaries,
customers, clients, suppliers, joint ventures, joint venture partners or purchasers or sellers of goods or services or lessor or lessees of property, in each case in the ordinary course of business and otherwise in compliance with the terms of this
Agreement which are, in the aggregate (taking into account all the costs and benefits associated with such transactions), materially no less favorable to the Lead Borrower or its Restricted Subsidiaries than those that would have been obtained in a
comparable transaction by the Lead Borrower or such Restricted Subsidiary with an unrelated Person, in the reasonable determination of the Board of 

  
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Directors of Holdings or the Lead Borrower or senior management of either of them, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated
party; 
 (xii) (A) guarantees of performance by the Lead Borrower and its Restricted Subsidiaries of
Unrestricted Subsidiaries in the ordinary course of business, except for guarantees of Indebtedness in respect of borrowed money, and (B) pledges of Equity Interests of Unrestricted Subsidiaries for the benefit of lenders of Unrestricted
Subsidiaries; 
 (xiii) if such Affiliate Transaction is with a Person in its capacity as a holder of
Indebtedness or Capital Stock of Holdings or any Restricted Subsidiary where such Person is treated no more favorably than the holders of Indebtedness or Capital Stock of the Lead Borrower or any Restricted Subsidiary; 

(xiv) transactions effected pursuant to agreements in effect on the Closing Date and any amendment, modification or
replacement of such agreement (so long as such amendment or replacement is not materially more disadvantageous to the holders of the notes, taken as a whole); 
 (xv) payments to the Equity Investors made for any financial advisory, financing or other investment banking activities, including without limitation, in connection with acquisitions or divestitures,
which payments are approved by a majority of the Board of Directors; 
 (xvi) the Transactions and the payment of
all fees and expenses related to the Transactions; 
 (xvii) intellectual property licenses in the ordinary
course of business; 
 (xviii) Permitted Liens of the type described in clause (xiv)(B) thereof granted in favor
of an MTBE Subsidiary or Permitted MTBE Joint Venture; 
 (xix) the MLP Formation Transactions; 

(xx) transactions with any MLP Subsidiary if approved by the MLP’s conflicts committee; and 

(xxi) transactions between the Lead Borrower or any of its Restricted Subsidiaries and any Person, a director of which is
also a director of the Lead Borrower; provided, however, that such director abstains from voting as a director of the Lead Borrower on any matter involving such other Person. 
 Section 6.08. Business Activities. The Lead Borrower will not, and will not permit any of their Restricted Subsidiaries to, engage in any business other than Permitted Businesses, except to
such extent as would not be material to the Lead Borrower and its Restricted Subsidiaries taken as a whole. 

  
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 Section 6.09. Designation of Restricted and Unrestricted Subsidiaries.

 (a) The Board of Directors of Holdings or the Lead Borrower may designate any Subsidiary of Holdings (including any newly
acquired or newly formed Subsidiary of Holdings) other than a Borrower to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of,
Holdings or any other Subsidiary of Holdings that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do
not thereafter incur Non-Recourse Debt (other than guarantees of performance of the Unrestricted Subsidiary in the ordinary course of business, excluding guarantees of Indebtedness for borrowed money); provided, further,
however, that both immediately before and after giving effect to any such designation the Other Payment Conditions are met. 
 (b) The Board of Directors of Holdings or the Lead Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, both immediately before and after
giving effect to any such designation the Other Payment Conditions are met. 
 (c) Any such designation by the Board of
Directors of Holdings or the Lead Borrower shall be evidenced to the Administrative Agent by promptly filing with the Administrative Agent a copy of the resolution of the applicable Board of Directors giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the foregoing provisions. 
 Section 6.10.
Minimum Fixed Charge Coverage Ratio. If, at any time during any Fiscal Quarter, (i) an Event of Default is continuing or (ii) Excess Availability is less than the greater of (x) 10% of Availability and (y) $20.0 million
(which in case of clause (y), shall be reduced after a Significant Asset Sale proportionately based on the Fair Market Value of the Significant Asset Sale in relation to Total Assets, but only to the extent that there is a permanent reduction in
Commitments on a pro rata basis), the Lead Borrower shall comply with a minimum Fixed Charge Coverage Ratio for the most recent period of four consecutive fiscal quarters for which financial statements have been delivered pursuant to
Section 3.05 of at least 1.0 to 1.0. Such requirement shall continue until the date that no Event of Default exists and Excess Availability shall have been not less than the greater of (x) 10% of Availability and (y) $20.0
million for a period of 21 consecutive calendar days. 
 ARTICLE VII 

EVENTS OF DEFAULT 

Section 7.01. Events of Default. In case of the happening of any of the following events (“Events of
Default”): 
 (a) any representation or warranty made or deemed made by a Borrower or any other Loan Party in any Loan
Document, or any representation, warranty, statement or information contained in any report, certificate, financial statement or other instrument furnished in connection with or pursuant to any Loan Document, shall prove to have been incorrect,
false or misleading in any material respect when so made, deemed made or furnished by a Borrower or any other Loan Party; 

  
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 (b) default shall be made in the payment of any principal of any Loan or the reimbursement
with respect to any Revolving L/C Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 

(c) default shall be made in the payment of any interest on any Loan or on any Revolving L/C Disbursement or in the payment of any Fee or
any other amount (other than an amount referred to in (b) above) due under any Loan Document, when and as the same shall become due and payable, and such default shall continue unremedied for a period of five (5) Business Days;

 (d) failure by Holdings to comply with its obligations under Section 5.01(a) (with respect to any Borrower),
Section 5.05(a) or Article VI. 
 (e) failure by Holdings or any of Holdings’ Restricted Subsidiaries to
comply with any of its other obligations (other than those specified in paragraphs (b), (c) or (d) above) under the Loan Documents and the continuance of such failure for 30 days (or 60 days in the case of a Reporting Failure (other than
Section 5.14, which shall be subject to a 5 Business Day grace period hereunder; provided that failure to deliver a weekly Borrowing Base certificate, if required under Section 5.14, shall be subject to a 2 day grace period
hereunder)) after notice thereof to Holdings by the Administrative Agent or any Lender (given through the Administrative Agent); 
 (f) (i) any event or condition occurs that (x) results in any Material Indebtedness becoming due prior to its scheduled maturity or (y) enables or permits (with all applicable grace periods
having expired) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to
its scheduled maturity or (ii) a Borrower or any of its Significant Subsidiaries (or a group of Subsidiaries that taken as a whole, would constitute, a Significant Subsidiary) shall fail to pay the principal of any Material Indebtedness at the
stated final maturity thereof; provided that this clause (f) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale or
transfer is permitted hereunder and under the documents providing for such Indebtedness; 
 (g) failure by Holdings, the Lead
Borrower or any Significant Subsidiary (or a group of Subsidiaries that taken as a whole, would constitute, a Significant Subsidiary), to pay final and non- appealable judgments entered by a court or courts of competent jurisdiction aggregating in
excess of $25.0 million (net of any amounts which are covered by insurance or bonded), which judgments are not paid, waived, satisfied, discharged or stayed for a period of 60 days; 

(h) there shall have occurred a Change in Control (other than a Qualifying MLP IPO); 

  
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 (i) Holdings, the Lead Borrower, or any Significant Subsidiary (or a group of Subsidiaries
that taken as a whole, would constitute, a Significant Subsidiary) pursuant to or within the meaning of Bankruptcy Law: 
 (i) commences a voluntary case or proceeding (including the filing of a notice of intention in respect thereof), 
 (ii) consents to the entry of an order for relief against it in an involuntary case or proceeding, 
 (iii) consents to the appointment of a custodian, receiver, receiver-manager, administrative receiver, administrator, liquidator, trustee, liquidation custodian, sequestrator, conservator, or similar
official of it or for all or substantially all of its property, or 
 (iv) makes a general assignment for the
benefit of its creditors; 
 (j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 (i) is for relief against Holdings, the Lead Borrower, or any Significant Subsidiary in an involuntary case or
proceeding; 
 (ii) appoints a custodian, receiver, receiver-manager, administrative receiver, administrator,
liquidator, trustee, liquidation custodian, sequestrator, conservator, or similar official of Holdings, the Lead Borrower, or any Significant Subsidiary or for all or substantially all of the property of Holdings, the Lead Borrower, or any
Significant Subsidiary; or 
 (iii) orders the liquidation, winding up, or dissolution or a suspension of
payments against Holdings, the Lead Borrower, or any Significant Subsidiary; 
 and the order or decree remains unstayed and in effect for 60
consecutive days; 
 (k) one or more ERISA Events shall have occurred that, when taken together with all other ERISA Events that
have occurred, could reasonably be expected to result in a Material Adverse Effect; 
 (l) (i) any Loan Document (subject
to the terms of such Loan Document) shall for any reason be asserted in writing by any Loan Party not to be a legal, valid and binding obligation of any party thereto, (ii) any security interest purported to be created by any Security Document
and to extend to Collateral that is not immaterial to Holdings and its Subsidiaries on a consolidated basis shall cease to be, or shall be asserted in writing by any Loan Party not to be, a valid and perfected security interest (having the priority
required by this Agreement or the relevant Security Document) in the securities, assets or properties covered thereby, except to the extent that (x) any such loss of perfection or priority results from the failure of the Collateral Agent to
maintain possession of certificates actually delivered to it representing securities pledged under any Security Document or to file UCC continuation statements, (y) such loss is 

  
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covered by a lender’s title insurance policy and the Administrative Agent shall be reasonably satisfied with the credit of such insurer or (z) any such loss of validity, perfection or
priority is the result of any failure by the Collateral Agent or the Administrative Agent to take any action necessary to secure the validity, perfection or priority of the liens, or (iii) the Guarantees pursuant to the Loan Document Guarantee
by Holdings, the Borrowers or the Subsidiary Loan Parties of any of the Obligations shall cease to be in full force and effect (other than in accordance with the terms thereof), or shall be asserted in writing by Holdings, any Borrower, any
Subsidiary Loan Party or any other Person not to be in effect or not to be legal, valid and binding obligations; then, and in every such event (other than an event with respect to a Borrower described in paragraph (i) or (j) above), and at
any time thereafter during the continuance of such event, the Administrative Agent, at the request of the Required Lenders, shall, by notice to Holdings, take any or all of the following actions, at the same or different times: (i) terminate
forthwith the Commitments, (ii) declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and any
unpaid accrued Fees and all other liabilities of the Borrowers accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby
expressly waived by the Borrowers, anything contained herein or in any other Loan Document to the contrary notwithstanding and (iii) demand cash collateral pursuant to Section 2.05(c); and in any event described in paragraph
(i) or (j) above, the Commitments shall automatically terminate, the principal of the Loans then outstanding, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrowers accrued hereunder
and under any other Loan Document, shall automatically become due and payable and the Administrative Agent shall be deemed to have made a demand for cash collateral to the full extent permitted under Section 2.05(c), without presentment,
demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrowers, anything contained herein or in any other Loan Document to the contrary notwithstanding. 

Section 7.02. Holdings’ Right to Cure. 
 (a) Financial Performance Covenant. Notwithstanding anything to the contrary contained in Section 7.01, in the event that Holdings fails to comply with the requirements of the Financial
Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c) (the “Last Cure
Date”), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings (collectively, the “Cure Right”), and upon the receipt by Holdings of such
cash (the “Cure Amount”) pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments: 

(i) Consolidated Adjusted EBITDA shall be increased, solely for the purpose of measuring the Financial Performance
Covenant (and measuring compliance with the Financial Performance Covenant in subsequent Test Periods that include the relevant fiscal quarter) and not for any other purpose under this Agreement, by an amount equal to the Cure Amount; and

  
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 (ii) if, after giving effect to the foregoing recalculations, Holdings shall
then be in compliance with the requirements of the Financial Performance Covenant, Holdings shall be deemed to have satisfied the requirements of the Financial Performance Covenant as of the relevant date of determination with the same effect as
though there had been no failure to comply therewith at such date, and the applicable breach or default of the financial covenant that had occurred shall be deemed cured for this purposes of the Agreement. 

(b) Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (i) in each four-fiscal- quarter
period there shall be at least two fiscal quarters in which the Cure Right is not exercised, (ii) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenant and (iii) the
Cure Right shall not be exercised more than four times during the term of this Agreement. The Lenders shall not be required to comply with any request for Borrowing during any Financial Performance Covenant default and until such time as the
Holdings has received the Cure Amount necessary for complying with the Financial Performance Covenant for the relevant period. 

ARTICLE VIII 
 THE
AGENTS 
 Section 8.01. Collateral Agent and Administrative Agent Appointment. Each Secured Party hereby irrevocably
designates and appoints Bank of America, N.A. as the Administrative Agent of such Lender under this Agreement and the other Loan Documents (for purposes of this Agreement, the term “Administrative Agent” shall include Bank of America, N.A.
in its capacity as Collateral Agent pursuant to the Security Documents and the Intercreditor Agreement), and each such Secured Party irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the
provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such
other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any
fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent.

 Section 8.02. Joint Lead Arrangers, etc. Each Lender and each Issuing Bank recognizes and agrees that the Joint
Lead Arrangers, Joint Book Manager, Syndication Agent and Documentation Agents in their respective capacities as such, shall have no duties or responsibilities under this Agreement or any other Loan Document, or any fiduciary relationship with any
Lender of Issuing Bank, and shall have no functions, responsibilities, duties, obligations or liabilities for acting as such hereunder. 
 Section 8.03. Withholding Taxes. To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender or Issuing Bank an amount equivalent to any
applicable withholding Tax. Without limiting or expanding the provisions of Section 2.17(a) or Section 2.17(c), each Lender or Issuing Bank shall, and does hereby,

  
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indemnify the Administrative Agent against, and shall make payable in respect thereof within 30 days after demand therefor, any and all Taxes and any and all related losses, claims, liabilities
and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the Internal Revenue Service or any other Governmental Authority as a result of the
failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of any Lender or Issuing Bank for any reason (including, without limitation, because the appropriate form was not delivered or not properly
executed, or because such Lender or Issuing Bank failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of withholding Tax ineffective). A certificate as to the amount of such payment or
liability delivered to any Lender or Issuing Bank by the Administrative Agent shall be conclusive absent manifest error. Each Lender and Issuing Bank Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any
time owing to such Lender or Issuing Bank under this Agreement or any other Loan Document against any amount due the Administrative Agent under this Section 8.03. The agreements in this Section 8.03 shall survive the
resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender or Issuing Bank, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

 Section 8.04. Lien Release; Care of Collateral. Secured Parties authorize the Agents to release any Lien with
respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is an Asset Sale permitted under Section 6.03 or a Permitted Lien entitled
to priority over the Collateral Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry) and (c) that does not constitute a material part of the Collateral. The Agents shall have no obligation to
assure that any Collateral exists or is owned by any Loan Party, or is cared for, protected or insured, nor to assure that the Collateral Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular
priority, nor to exercise any duty of care with respect to any Collateral. Without limiting the generality of the foregoing, the Agents are hereby expressly authorized to execute any and all documents (including releases) with respect to the
Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Section 8.04. 
 Section 8.05. Additional Agreement. The Administrative Agent is authorized to enter into the Intercreditor Agreement and any other intercreditor agreement contemplated hereby with respect to
Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens and which Indebtedness contemplates an intercreditor, subordination or collateral trust agreement (any such other intercreditor
agreement, an “Additional Agreement”), and the parties hereto acknowledge that the Intercreditor Agreement and any Additional Agreement is binding upon them. Each Lender (a) hereby consents to the subordination of the Liens on
the Collateral other than the “Revolving Facility Priority Collateral” securing the Obligations on the terms set forth in the Intercreditor Agreement, (b) hereby agrees that it will be bound by and will take no actions contrary to the
provisions of the Intercreditor Agreement or any Additional Agreement and (c) hereby authorizes and instructs the Administrative Agent to enter into the Intercreditor Agreement or any Additional Agreement and to subject the Liens on the
Collateral securing the obligations to the provisions thereof. The foregoing provisions are intended as an inducement to the Secured Parties to extend credit to the Borrowers and such Secured Parties are intended third-party beneficiaries of such
provisions and the provisions of the Intercreditor Agreement and/or any Additional Agreement. 

  
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 Section 8.06. Reliance by Agents. The Agents shall be entitled to rely, and
shall be fully protected in relying, upon any certification, notice or other communication (including those by telephone, telex, telegram, telecopy or e-mail) believed by it to be genuine and correct and to have been signed, sent or made by the
proper Person. The Agents shall have a reasonable and practicable amount of time to act upon any instruction, notice or other communication under any Loan Document, and shall not be liable for any delay in acting. 

Section 8.07. Action Upon Default. The Agents shall not be deemed to have knowledge of any Default or Event of Default, or of
any failure to satisfy any conditions in Article IV, unless it has received written notice from a Borrower or Required Lenders specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default, Event of Default or failure
of such conditions, it shall promptly notify the Agents and the other Lenders thereof in writing. Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of the Administrative Agent and Required
Lenders, it will not take any Enforcement Action, accelerate any Secured Obligations (other than Secured Bank Product Obligations), or exercise any right that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales
or other dispositions of Collateral, or to assert any rights relating to any Collateral. 
 Section 8.08.
Indemnification. EACH LENDER SHALL INDEMNIFY AND HOLD HARMLESS THE AGENTS AND THE ISSUING BANK, TO THE EXTENT NOT REIMBURSED BY THE LOAN PARTIES, ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY SUCH
PERSON, PROVIDED THAT ANY CLAIM AGAINST AN AGENT RELATES TO OR ARISES FROM ITS ACTING AS OR FOR AGENT (IN THE CAPACITY OF AGENT). If the Administrative Agent is sued by any receiver, trustee or other Person for any alleged preference or
fraudulent transfer, then any monies paid by the Administrative Agent in settlement or satisfaction of such proceeding, together with all interest, costs and expenses (including attorneys’ fees) incurred in the defense of same, shall be
promptly reimbursed to the Administrative Agent by each Lender to the extent of its pro rata share. 
 Section 8.09.
Successor Agent and Co-Agents. 
 (a) Resignation; Successor Administrative Agent. Subject to the appointment and
acceptance of a successor Agent as provided below, the Administrative Agent (and the Collateral Agent) may resign at any time by giving at least 30 days written notice thereof to Lenders and Borrowers. Upon receipt of such notice, Required Lenders
shall have the right to appoint a successor Administrative Agent (and Collateral Agent) which shall be (a) a Lender or an Affiliate of a Lender; or (b) a financial institution reasonably acceptable to Required Lenders and (provided no
Event of Default under Section 7.01(b), (c), (i) or (j) exists) Borrowers. If no successor agent is appointed prior to the effective date of the Administrative Agent’s (and the Collateral Agent’s)
resignation, then the Administrative Agent and Lead Borrower may appoint a successor agent that is a financial institution acceptable to it, which shall be a Lender unless no Lender accepts the role. Upon acceptance by a successor Agent of its
appointment hereunder, 

  
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such successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring the Administrative Agent (and the Collateral Agent) without further act, and the
retiring the Administrative Agent (and the Collateral Agent) shall be discharged from its duties and obligations hereunder but shall continue to have the benefits of the indemnification set forth in in this Agreement and the other Loan Documents.
Notwithstanding any Agent’s resignation, the provisions of this Section 8.09 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while the Administrative Agent (and the Collateral
Agent). Any successor to Bank of America by merger or acquisition of stock or this loan shall continue to be the Administrative Agent (and the Collateral Agent) hereunder without further act on the part of any Secured Party or Loan Party.

 (b) Co-Collateral Agent. If necessary or appropriate under Applicable Law, the Administrative Agent (and the
Collateral Agent) may appoint a Person to serve as a co-collateral agent or separate collateral agent under any Loan Document. Each right and remedy intended to be available to the Administrative Agent (and the Collateral Agent) under the Loan
Document shall also be vested in such agent. Secured Parties shall execute and deliver any instrument or agreement that the Administrative Agent (and the Collateral Agent) may request to effect such appointment. If an agent shall dissolve, become
incapable of acting, resign or be removed, then all the rights and remedies of such agent, to the extent permitted by applicable law, shall vest in and be exercised by the Administrative Agent (and the Collateral Agent) until appointment of a new
agent. 
 (c) Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its
resignation as Issuing Bank and Swingline Lender. If Bank of America resigns as an Issuing Bank, it shall retain all the rights, powers, privileges and duties of the Issuing Bank hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as L/C Issuer and all Revolving L/C Reimbursement Obligations with respect thereto, including the right to require the Lenders to make ABR Loans or fund risk participations in Fronting Exposure. If Bank of America
resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the
Lenders to make ABR Loans or fund risk participations in outstanding Swingline Loans. Upon the appointment by the Borrower of a successor Issuing Bank or Swingline 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 Issuing Bank or Swingline Lender, as applicable, (ii) the retiring Issuing Bank and Swingline
Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor Issuing Bank shall issue letters of credit in substitution for the Revolving Letters of Credit,
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 Revolving Letters of Credit. 

Section 8.10. Individual Capacities. As a Lender, Bank of America shall have the same rights and remedies under the Loan
Documents as any other Lender, and the terms “Lenders,” “Required Lenders” or any similar term shall include Bank of America in its capacity as a Lender. The Agents, Lenders and their Affiliates may accept deposits from, lend
money to, 

  
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provide Bank Products to, act as financial or other advisor to, and generally engage in any kind of business with, the Loan Parties and their Affiliates, as if they were not Agent or Lenders
hereunder, without any duty to account therefor to any Secured Party. In their individual capacities, the Agents, Lenders and their Affiliates may receive information regarding the Loan Parties, their Affiliates and their Account Debtors (including
information subject to confidentiality obligations), and shall have no obligation to provide such information to any Secured Party. 
 Section 8.11. Bank Product Providers; Hedging Obligations. Each Secured Bank Product Provider and counterparty to Hedging Obligations that are Secured Obligations agrees to be bound by
Section 2.26 and this Article VIII. Each Secured Bank Product Provider and counterparty to Hedging Obligations shall indemnify and hold harmless the Administrative Agent (and the Collateral Agent), to the extent not reimbursed by the
Loan Parties, against all Claims that may be incurred by or asserted against the Administrative Agent (and the Collateral Agent) in connection with such provider’s Secured Bank Product Obligations and Hedging Obligations. 

Section 8.12. No Third Party Beneficiaries. This Article VIII is an agreement solely among Secured Parties, and shall survive
Full Payment of the Obligations. Other than as set forth herein this Article VIII does not confer any rights or benefits upon Borrowers or any other Person. As between Borrowers and the Agents, any action that any Agents may take under any Loan
Documents or with respect to any Obligations shall be conclusively presumed to have been authorized and directed by Secured Parties. Anything herein to the contrary notwithstanding, none of the Joint Bookrunners, Joint Lead Arrangers, Administrative
Agent or Syndication Agents 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
Issuing Bank hereunder 
 ARTICLE IX 
 MISCELLANEOUS 
 Section 9.01. Notices. 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 telecopy, as follows: 

 

	 	(i)	if to any Loan Party: 

 c/o TPC
Group Inc. 
 5151 San Felipe, Suite 800 
 Houston, Texas 77056 
 Attn: Miguel Desdin 

with copies to: 
 First Reserve Corporation 
 One Lafayette Place 

Greenwich, CT 06830 
 Attn: Neil Wizel 

  
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 SK Capital Partners III, L.P. 

400 Park Avenue Suite 810 
 New York, NY 10022 
 Attn: Jack Norris 

Service of process to the Process Agent on behalf of any Borrower shall be made in accordance with Section 9.15 to the
addresses set forth above; 
 and 
  

	 	(ii)	if to the Administrative Agent and the Collateral Agent, to: 

 Bank of America, N.A. 
 901 Main Street, 11th Floor 

TX1-492-11-23 

Dallas, TX 75202 
 Attn: Laura Wieland 
 (b) Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to service of process, or to notices pursuant to
Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. Each of the Administrative Agent, the Collateral Agent and each Borrower may, in its discretion, agree to accept notices and other communications
to it hereunder by electronic communications pursuant to procedures approved by it; provided further that approval of such procedures may be limited to particular notices or communications. 

(c) All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to
have been given on the date of receipt if delivered by hand or overnight courier service or sent by telecopy or (to the extent permitted by paragraph (b) above) electronic means prior to 1:00 p.m. (New York time) on such date, or on the date
five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 9.01 or in accordance with the latest unrevoked direction
from such party given in accordance with this Section 9.01. 
 (d) Any party hereto may change its address or
telecopy number for notices and other communications hereunder by notice to the other parties hereto. 
 Section 9.02.
Survival of Agreement. All covenants, agreements, representations and warranties made by the Borrowers and the Loan Parties herein, in the other Loan Documents and in the certificates or other instruments prepared or delivered in connection with
or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and each Issuing Bank and shall survive the making by the Lenders of the Loans, the execution and delivery of the Loan Documents and
the issuance of the Letters of Credit, regardless of any investigation made by such Persons or on their behalf, and shall continue in full 

  
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force and effect as long as the principal of or any accrued interest on any Loan or Revolving L/C Disbursement or any Fee or any other amount payable under this Agreement or any other Loan
Document is outstanding and unpaid or any Revolving Letter of Credit is outstanding and so long as the Commitments have not been terminated. Without prejudice to the survival of any other agreements contained herein, indemnification and
reimbursement obligations contained herein (including pursuant to Section 2.15, 2.17 and 9.05) shall survive the payment in full of the principal and interest hereunder, the expiration of the Letters of Credit and the
termination of the Commitments or this Agreement. 
 Section 9.03. Binding Effect. This Agreement shall become
effective when it shall have been executed by Holdings, the Borrowers and the Agents and when the Administrative Agent shall have received copies hereof which, when taken together, bear the signatures of each of the other parties hereto, and
thereafter shall be binding upon and inure to the benefit of Holdings, the Borrowers, each Issuing Bank, the Agents and each Lender and their respective permitted successors and assigns. 

Section 9.04. Successors and Assigns. 
 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of any
Issuing Bank that issues any Revolving Letter of Credit), except that other than pursuant to a merger permitted by Section 6.06, no Borrower may assign or otherwise transfer any of its rights or obligations hereunder (except as part of
the Transaction) without the prior written consent of each Lender (and any attempted assignment or transfer by a Borrower without such consent shall be null and void) and no Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section 9.04. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby
(including any Affiliate of any Issuing Bank that issues any Revolving Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section 9.04) and, to the extent expressly contemplated hereby, the Related
Parties of each of the Agents, each Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of: 

(A) Holdings; provided that no consent of Holdings shall be required for an assignment to a Lender, an Affiliate of
a Lender or, if an Event of Default pursuant to Section 7.01(b), Section 7.01(c), Section 7.01(i) or Section 7.01(j) has occurred and is continuing, any other assignee (provided that any
liability of any Borrower to an assignee that is an Approved Fund or Affiliate of the assigning Lender under Section 2.17 or Section 2.19 shall be limited to the amount, if any, that would have been payable hereunder by such
Borrower in the absence of such assignment); 
 (B) the Administrative Agent, the Issuing Bank and the Swingline
Lender; 

  
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 (C) so long as no Event of Default has occurred and is continuing, Holdings
may withhold its consent if the costs or the taxes payable by the Borrowers to the assignee under Section 2.15 or Section 2.17 shall be greater than they would have been to assignor; 

 

	 	(ii)	Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an assignment of the entire remaining amount of the assigning
Lender’s Commitment, the amount of the commitment of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall
not be less than U.S.$5.0 million and increments of U.S. $1.0 million in excess thereof, in the case of assignments under the Revolving Facility, provided that no such consent of Holdings shall be required if an Event of Default under
paragraph (b), (c), (i) or (j) of Section 7.01 has occurred and is continuing; 
 (B) each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement; 
 (C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500 (which fee may be waived or
reduced in the sole discretion of the Administrative Agent); provided that (i) only one such fee shall be payable in the case of contemporaneous assignments to or by two or more related Approved Funds and (ii) such fee does not
apply to assignments by the Joint Lead Arrangers; 
 (D) the assignee, if it shall not be a Lender, shall deliver
to the Administrative Agent any administrative information that the Administrative Agent may reasonably request; and 
 (E) no Commitments or Loans under the Revolving Facility may be assigned to the Sponsor or any Sponsor Affiliate. 
 For purposes of this Section 9.04(b), the term “Approved Fund” shall have the following meaning: 
 “Approved Fund” shall mean any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course and that is administered or managed by a Lender, an Affiliate of a Lender or an entity or an Affiliate of an entity that administers or manages a Lender. 

(iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section 9.04,
from and after the effective date specified in each Assignment and Acceptance the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender hereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its 

  
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obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease
to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.05). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with
this Section 9.04 shall not be effective as an assignment hereunder. 
 (iv) The Administrative
Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the
Commitment of, and principal amount of the Loans and Revolving L/C Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the
Borrowers, the Agents, each Issuing Bank and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.
The Register shall be available for inspection by the Borrowers, any Issuing Bank and (solely with respect to its own Commitments) any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(v) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, any
administrative information reasonably requested by the Administrative Agent (unless the assignee shall already be a Lender hereunder), and any written consent to such assignment required by paragraph (b) of this Section 9.04, the
Administrative Agent shall accept such Assignment and Acceptance and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in
this paragraph. 
 (c) Any Lender may, without the consent of any Borrower, the Administrative Agent or any Issuing Bank, sell
participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans and Revolving
L/C Disbursements owing to it); provided that (H) such Lender’s obligations under this Agreement shall remain unchanged, (I) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (J) the Borrowers, the Agents, each Issuing Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement
or instrument (oral or written) pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to exercise rights under and to enforce this Agreement and the other Loan Documents and to approve any
amendment, modification or waiver of any provision of this Agreement and the other Loan Documents; provided that (x) such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any
amendment, modification or waiver described in Section 9.04(a)(i) or clause (i), (ii), (iii), (iv), (vi) or (vii) of the first proviso to Section 9.08(b) that affects such Participant and (y) no other
agreement (oral or written) with respect to such Participant may exist between such Lender and such Participant. Subject to paragraph (c)(ii) of this Section 9.04, the Borrowers agree that each

  
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Participant shall be entitled to the benefits (and subject to the requirements and limitations) of Sections 2.15, 2.16 and 2.17 to the same extent as if it were the
Lender from whom it obtained its participation (subject to the requirements and limitations therein, including the requirement to provide documentation under Section 2.17(e)) and had acquired its interest by assignment pursuant to
paragraph (b) of this Section 9.04. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.06 as though it were a Lender, provided such Participant agrees to be
subject to Section 2.18(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and
address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Revolver 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 to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Revolving
Facility Loans, Revolving Letters of Credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Revolving Facility Loans, Revolving Letters 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 
 (i) A Participant shall not be entitled to
receive any greater payment under Sections 2.15, 2.16 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made with Holdings’ prior written consent (which shall not be unreasonably withheld) and Holdings may withhold its consent if a Participant would be entitled to require greater payment than the applicable
Lender under such Sections. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion
of its rights under this Agreement and its promissory note, if any, to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section 9.04 shall not apply to any
such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a
party hereto, and any such pledgee (other than a pledgee that is the Federal Reserve Bank) shall acknowledge in writing that its rights under such pledge are in all respects subject to the limitations applicable to the pledging Lender under this
Agreement or the other Loan Documents. 
 (e) Notwithstanding anything to the contrary contained in this
Section 9.04, (i) guarantees, collateral security agreements, pledge agreements and related documents (if any) executed by the Loan Parties in connection with this Agreement may be in a form reasonably determined by the
Administrative Agent and may be amended, supplemented and/or waived with the consent of the Administrative Agent at the request of the Borrowers (or the Lead Borrower 

  
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on behalf of Borrowers) without the input or need to obtain the consent of any other Lenders to (x) comply with local law or advice of local counsel or (y) to cause such guarantees,
collateral security agreements, pledge agreement or other document to be consistent with this Agreement and the other Loan Documents, (ii) the Borrowers and the Administrative Agent may, without the input or consent of any other Revolving
Facility Lender (other than, in the case of Section 2.20, each applicable New Revolving Facility Lender), effect amendments to this Agreement and the other Loan Documents as may be necessary in the reasonable opinion of the Borrowers and
the Administrative Agent to effect the provisions of Sections 2.20 or 2.23 and (iii) if the Administrative Agent and the Borrowers have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any error
or omission of a technical nature or any necessary or desirable technical change, in each case, in any provision of the Loan Documents, then the Administrative Agent and the Borrowers shall be permitted to amend such provision solely to address such
matter as reasonably determined by them acting jointly. 
 Section 9.05. Expenses; Indemnity. 

(a) The Borrowers agree to pay all reasonable and documented out-of-pocket expenses incurred by the Agents in connection with the
preparation of this Agreement and the other Loan Documents, or by the Agents in connection with the syndication of the Commitments or the administration of this Agreement (including expenses incurred in connection with due diligence and initial and
ongoing Collateral examination, appraisals and field examinations and the preparation of reports based thereon and the reasonable fees, disbursements and the charges for no more than one counsel in each jurisdiction where Collateral is located) or
in connection with any amendments, modifications or waivers of the provisions hereof or thereof (whether or not such transactions hereby contemplated shall be consummated) or incurred by the Agents or any Lender in connection with the enforcement or
protection of their rights in connection with this Agreement and the other Loan Documents, in connection with the Loans made or the Letters of Credit issued hereunder and, in connection with any such enforcement or protection, the reasonable fees,
charges and disbursements of any other counsel (including the reasonable and documented expenses of Paul Hastings LLP and the reasonable and documented allocated costs of internal counsel for the Agents, the Joint Lead Arrangers, any Issuing Bank or
any Lender); provided that, absent any conflict of interest, the Agents and the Joint Lead Arrangers shall not be entitled to indemnification for the fees, charges or disbursements of more than one counsel in each jurisdiction. 

(b) The Borrowers agree to indemnify the Agents, the Joint Lead Arrangers, each Issuing Bank, each Lender and each of their respective
directors, trustees, officers, employees, investment advisors, agents, affiliates and assigns (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including reasonable and documented counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of (i) the execution or
delivery of the Commitment Letter, this Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto and thereto of their respective obligations thereunder or the
consummation of the Transactions and the other transactions contemplated hereby, (ii) the use of the proceeds of the Loans or the use of any Revolving Letter of Credit or (iii) any claim, litigation, investigation or proceeding relating to
any of the foregoing, whether or 

  
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not any Indemnitee is a party thereto, provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses are determined by a court of competent jurisdiction to have resulted from the gross negligence, bad faith, material breach of contract or willful misconduct of such Indemnitee (treating, for this purpose only, an Indemnitee and its Related
Parties as a single Indemnitee) as determined by a court of competent jurisdiction in a final non-appealable order. Subject to and without limiting the generality of the foregoing sentence, the Borrowers agree to indemnify each Indemnitee against,
and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable and documented counsel or consultant fees, charges and disbursements, incurred by or asserted against any Indemnitee
arising out of, in any way connected with, or as a result of (A) any Environmental Claim related in any way to Holdings, the Borrowers or any of their Subsidiaries, or (B) any actual or alleged presence, Release or threatened Release of
Hazardous Materials at, under, on or from any Real Property, any property owned, leased or operated by any predecessor of Holdings, the Borrowers or any of their Subsidiaries, or any property at which Holdings, the Borrowers or any of their
Subsidiaries has sent Hazardous Wastes for treatment, storage or disposal, provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are
determined by a court of competent jurisdiction in a final non-appealable order to have resulted from the gross negligence, bad faith, material breach of contract or willful misconduct of such Indemnitee or any of its Related Parties or would have
arisen as against the Indemnitee regardless of this Agreement or any Borrowings hereunder. In no event shall any Indemnitee be liable to any Loan Party for any consequential, indirect, special or punitive damages. The provisions of this
Section 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations under the Loan
Documents, the invalidity or unenforceability of any term or provision of the Commitment Letter, this Agreement or any other Loan Document, or any investigation made by or on behalf of any Agent, any Issuing Bank or any Lender. All amounts due under
this Section 9.05 shall be payable on written demand therefor accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested. 

(c) Unless an Event of Default shall have occurred and be continuing, the Borrowers shall be entitled to assume the defense of any action,
claim or other proceeding for which indemnification is sought hereunder with counsel of their choice at its expense (in which case the Borrowers shall not thereafter be responsible for the fees and expenses of any separate counsel retained by an
Indemnitee except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to each such Indemnitee. Notwithstanding a Borrower’s election to assume the defense of such action, claim or proceeding,
each Indemnitee shall have the right to employ separate counsel and to participate in the defense of such action, claim or proceeding, and such Borrower shall bear the reasonable fees, costs and expenses of such separate counsel, if (i) the use
of counsel chosen by such Borrower to represent such Indemnitee would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action, claim or proceeding include both such Borrower
and such Indemnitee and such Indemnitee shall have reasonably concluded that there may be legal defenses available to it that are different from or additional to those available to such Borrower (in which case such Borrower shall not have the right
to assume the defense or such action, claim or proceeding on behalf of such Indemnitee); (iii) such Borrower shall not have employed counsel reasonably 

  
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satisfactory to such Indemnitee to represent it within a reasonable time after notice of the institution of such action, claim or proceeding; or (iv) such Borrower shall authorize in writing
such Indemnitee to employ separate counsel at such Borrower’s expense. Such Borrower will not be liable under this Agreement for any amount paid by an Indemnitee to settle any claims, actions or proceedings if the settlement is entered into
without such Borrower’s consent, which consent may not be withheld or delayed unless such settlement is unreasonable in light of such claims, actions or proceedings against, and defenses available to, such Indemnitee; provided, that such
Borrower will have no such consent right if an Event of Default shall have occurred and be continuing. 
 (d) This
Section 9.05 shall not apply to Taxes, other than any Taxes that represent losses or damages arising from non-Tax claims (and taking into account any associated Tax benefits in determining such losses or damages). 

Section 9.06. Right of Set-off. If an Event of Default shall have occurred and be continuing, each Lender and each Issuing
Bank is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any
time owing by such Lender or such Issuing Bank or for the credit or the account of any Loan Party or any other Subsidiary incorporated in the United States of America of any jurisdiction therein, against any and all obligations of the Loan Parties,
now or hereafter existing under this Agreement or any other Loan Document held by such Lender or such Issuing Bank, irrespective of whether or not such Lender or such Issuing Bank shall have made any demand under this Agreement or such other Loan
Document and although the obligations may be unmatured. The rights of each Lender and each Issuing Bank under this Section 9.06 are in addition to other rights and remedies (including other rights of set-off) that such Lender or such
Issuing Bank may have. 
 Section 9.07. Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN
LETTERS OF CREDIT AND AS EXPRESSLY SET FORTH IN OTHER LOAN DOCUMENTS) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 Section 9.08. Waivers; Amendment. No failure or delay of the Agents, any Issuing Bank or any Lender in exercising any right or power hereunder or under any Loan Document shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or
power. The rights and remedies of the Agents, each Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
this Agreement or any other Loan Document or consent to any departure by any Borrower or any other Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent
shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any Borrower or any other Loan Party in any case shall entitle such Person to any other or further notice or demand in similar or other
circumstances. 

  
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 (a) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof
may be waived, amended or modified except (x) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrowers and the Required Lenders and (y) in the case of any other Loan Document, pursuant
to an agreement or agreements in writing entered into by each party thereto and the Collateral Agent and consented to by the Required Lenders (or otherwise in accordance with the terms of such Loan Document); provided, however, that no
such agreement shall 
 (i) decrease or forgive the principal amount of, or extend the final maturity of, or
decrease the rate of interest on, any Loan or any Revolving L/C Disbursement without the prior written consent of each Lender directly and adversely affected thereby; provided that any amendment to the financial covenant definitions or
“most favored nation” provisions in this Agreement shall not constitute a reduction in the rate of interest for purposes of this clause (i), 
 (ii) increase or extend the Commitment of any Lender or decrease the Commitment Fees or Revolving L/C Participation Fees or other fees of any Lender without the prior written consent of such Lender (it
being understood that waivers or modifications of conditions precedent, covenants, Defaults or Events of Default or of a mandatory reduction in the aggregate Commitments shall not constitute an increase of the Commitments of any Lender), 

(iii) extend any date on which payment of interest on any Loan, Revolving L/C Disbursement or any Fees is due, without the
prior written consent of each Lender directly and adversely affected thereby, 
 (iv) amend or modify the
provisions of Section 2.26(b), without the prior written consent of each Lender directly and adversely affected thereby, 
 (v) amend or modify the provisions of this Section 9.08 or the definition of the terms “Required Lenders,” “Majority Lenders,” “Super-Majority Lenders” or any
other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the prior written consent of each Lender directly and
adversely affected thereby, or 
 (vi) subject to Section 9.18, release all or substantially all of
the Collateral or release all or substantially all of the value of the Guarantees under the Loan Document Guarantee of the Subsidiary Loan Parties, taken as a whole, without the prior written consent of each Lender directly and adversely affected
thereby; 
 provided, further; that (x) the consent of Super-Majority Lenders shall be required to amend, modify,
supplement, waive or otherwise change, as applicable (A) the definition of “Availability” and “Excess Availability,” or (B) definition of Borrowing Base (including any applicable advance rates) and any defined terms
which appear in the definition of “Borrowing Base” and would have the effect of increasing Availability or the Borrowing Base (it being understood that the establishment, modification or elimination of reserves and adjustment,
establishment and elimination of criteria for Eligible Accounts Receivable and 

  
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Eligible Inventory, in each case in accordance with the terms hereof will not be deemed to require the consent of the Super-Majority Lenders); and (y) that no such agreement shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent or an Issuing Bank hereunder without the prior written consent of the Administrative Agent or such Issuing Bank acting as such at the effective date of such agreement, as
applicable. Each Lender shall be bound by any waiver, amendment or modification authorized by this Section 9.08 and any consent by any Lender pursuant to this Section 9.08 shall bind any assignee of such Lender. 

(b) Without the consent of any Syndication Agent, Joint Lead Arranger or Lender, the Loan Parties and the Administrative Agent and/or
Collateral Agent may (in their respective sole discretion, or shall, to the extent required by any Loan Document) enter into any amendment, modification or waiver of any Loan Document, or enter into any new agreement or instrument, to effect the
granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or additional property to become Collateral for the benefit of the Finance Parties (and potentially other Secured Parties), or as required by local
law to give effect to, or protect any security interest for the benefit of the Finance Parties (and potentially other Secured Parties), in any property or so that the security interests therein comply with applicable law. 

(c) Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the Required
Lenders, the Administrative Agent, and the Borrowers (ii) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in
respect there to share ratably in the benefits of this Agreement and the other Loan Documents with the Loans and the accrued interest and fees in respect thereof and (ii) to include appropriately the Lenders holding such credit facilities in
any determination of the Required Lenders. 
 (d) In addition, notwithstanding the foregoing, technical and conforming
modification to the Loan Documents may be made with the consent of the Lead Borrower and the Administrative Agent to the extent necessary to integrate any New Term Commitments, New Commitments or facilities provided pursuant to
Section 9.08(d) or Section 9.08(e) on substantially the same basis as the Loans and any then existing Term Loans, or on customary terms for term loans, as applicable. 

Section 9.09. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the applicable
interest rate, together with all fees and charges that are treated as interest under applicable law (collectively, the “Charges”), as provided for herein or in any other document executed in connection herewith, or otherwise
contracted for, charged, received, taken or reserved by any Lender or any Issuing Bank, shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by such Lender in
accordance with applicable law, the rate of interest payable hereunder, together with all Charges payable to such Lender or such Issuing Bank, shall be limited to the Maximum Rate, provided that such excess amount shall be paid to such Lender
or such Issuing Bank on subsequent payment dates to the extent not exceeding the legal limitation. 

  
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 Section 9.10. Entire Agreement. This Agreement, the other Loan Documents and the
agreements regarding certain Fees referred to herein constitute the entire contract between the parties relative to the subject matter hereof. Any previous agreement among or representations from the parties or their Affiliates with respect to the
subject matter hereof is superseded by this Agreement and the other Loan Documents. Notwithstanding the foregoing, the Fee Letter shall survive the execution and delivery of this Agreement and remain in full force and effect. Nothing in this
Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any party other than the parties hereto and thereto any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Loan
Documents. 
 Section 9.11. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (i) CERTIFIES THAT
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.11. 

Section 9.12. Severability. In the event any one or more of the provisions contained in this Agreement or in any other Loan
Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall
endeavour in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 9.13. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an
original but all of which, when taken together, shall constitute but one contract, and shall become effective as provided in Section 9.03. Delivery of an executed counterpart to this Agreement by facsimile transmission or an electronic
transmission of a PDF copy thereof shall be as effective as delivery of a manually signed original; provided, however, that any such delivery shall be followed promptly by delivery of the manually signed original. 

Section 9.14. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 Section 9.15. Jurisdiction; Consent to Service of Process. 
 (a) Each
of the Borrowers, the Agents, the Issuing Bank and the Lenders hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction 

  
 160

 
of any New York State court or federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may
be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each Borrower further irrevocably consents to the service of process in any action or proceeding in such courts by the mailing thereof by any
parties thereto by registered or certified mail, postage prepaid, to such Borrower at the address specified for the Loan Parties in Section 9.01, or in accordance with the following sentence. Each Borrower appoints Lead Borrower (the
“Process Agent”) as its agent for service of process in relation to any action or proceeding in such courts and agrees that failure by the Process Agent to notify the relevant Borrower of any process will not invalidate the
proceedings concerned. In the event the Process Agent is unable to act as a Borrower’s agent for service of process for any reason, the relevant Borrower will immediately appoint another process agent reasonably acceptable to the Administrative
Agent. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement
shall affect any right that any Lender or any Issuing Bank may otherwise have to bring any action or proceeding relating to this Agreement or the other Loan Documents against any Borrower or any Loan Party or their properties in the courts of any
jurisdiction. 
 (b) Each of the Borrowers, the Agents, the Issuing Bank and the Lenders hereby irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or the other Loan Documents in
any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

Section 9.16. Confidentiality. Each of the Lenders, each Issuing Bank and each of the Agents agrees that it shall maintain in
confidence any information relating to Holdings, the Borrowers and their other Subsidiaries and their respective Affiliates furnished to it by or on behalf of Holdings, the Borrowers or the other Loan Parties or such Subsidiary or Affiliate (other
than information that (x) has become generally available to the public other than as a result of a disclosure by such party in breach of this Agreement, (y) has been independently developed by such Lender, such Issuing Bank or such Agent
without violating this Section 9.16 or (z) was available to such Lender, such Issuing Bank or such Agent from a third party having, to such Person’s actual knowledge, no obligations of confidentiality to Holdings, the Borrowers
or any other Subsidiary or any such Affiliate) and shall not reveal the same other than to its directors, trustees, officers, employees and advisors with a need to know or to any Person that approves or administers the Loans on behalf of such Lender
or Issuing Bank (so long as each such Person shall have been instructed to keep the same confidential in accordance with this Section 9.16), except: (i) to the extent necessary to comply with law or any legal process or the
regulatory or supervisory requirements of any Governmental Authority (including bank examiners), the National Association of Insurance Commissioners or of any securities exchange on which securities of the disclosing party or any Affiliate of the
disclosing party are listed or traded, 

  
 161

 
(ii) as part of reporting or review procedures to Governmental Authorities (including bank examiners) or the National Association of Insurance Commissioners, (iii) to its parent
companies, Affiliates or auditors (so long as each such Person shall have been instructed to keep the same confidential in accordance with this Section 9.16), (iv) in order to enforce its rights under any Loan Document in a legal
proceeding, (v) to any actual or prospective assignee of, or actual or prospective Participant in, any of its rights under this Agreement (so long as such Person shall have been instructed to keep the same confidential in accordance with this
Section 9.16 or on terms at least as restrictive as those set forth in this Section 9.16) and (vi) to any direct or indirect contractual counterparty in Hedge Agreements or such contractual counterparty’s
professional advisor (so long as such contractual counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this Section or on terms at least as restrictive as those set forth in this
Section 9.16). If a Lender, an Issuing Bank or an Agent is requested or required to disclose any such information (other than to its bank examiners and similar regulators, internal or external auditors) pursuant to or as required by law
or legal process or subpoena to the extent reasonably practicable, it shall give prompt notice thereof to Holdings so that Holdings may seek an appropriate protective order and such Lender, Issuing Bank or Agent will cooperate with Holdings (or the
applicable Subsidiary or Affiliate) in seeking such protective order. Notwithstanding the foregoing, the Agents and the Lenders may publish or disseminate general information concerning this credit facility for league table, tombstone and
advertising purposes, and with the Lead Borrower’s written consent, may use Borrowers’ logos, trademarks or product photographs in advertising materials for such purposes . 

Section 9.17. Communications. Delivery. Each Loan Party hereby agrees that it will use all reasonable efforts to provide to
the Administrative Agent all information, documents and other materials that it is obligated to furnish to the Administrative Agent pursuant to this Agreement and any other Loan Document, including, without limitation, all notices, requests,
financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that (A) relates to a request for a new, or a conversion of an existing, borrowing or other extension of
credit (including any election of an interest rate or interest period relating thereto), (B) relates to the payment of any principal or other amount due under this Agreement prior to 5:00 p.m. (CST) on the scheduled date therefor,
(C) provides notice of any Default or Event of Default under this Agreement or (D) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any borrowing or other extension of credit
hereunder (all such non-excluded communications collectively, the “Communications”), by transmitting the Communications in an electronic/soft medium in a format reasonably acceptable to the Administrative Agent at the address
referenced in Section 9.01(a)(ii). Nothing in this Section 9.17 shall prejudice the right of the Agents, the Syndication Agent, the Joint Lead Arrangers or any Lender or Issuing Bank or any Loan Party to give any notice or
other communication pursuant to this Agreement or any other Loan Document in any other manner specified in this Agreement or any other Loan Document. 
 (i) Each Lender agrees that notice to it (as provided in the next sentence) specifying that the Communications have been posted to the Platform (as defined below) shall constitute effective delivery of
the Communications to such Lender for purposes of the Loan Documents. Each Lender agrees (A) to notify the Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e mail address to which
the foregoing notice may be sent by electronic transmission and (B) that the foregoing notice may be sent to such e mail address. 

  
 162

 (b) Posting. Each Loan Party further agrees that the Administrative Agent may make
the Communications available to the Lenders by posting the Communications on an electronic transmission system (the “Platform”). 
 (c) The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the accuracy or completeness of the Communications, or the adequacy of the
Platform and expressly disclaim liability for errors or omissions in the communications. No warranty of any kind, express, implied or statutory, including, without limitation, 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 Communications or the Platform. In no event shall the Administrative Agent or any of its affiliates or any of
their respective officers, directors, employees, agents advisors or representatives (collectively, “Agent Parties”) have any liability to the Loan Parties, any Lender or Issuing Bank or any other Person or entity for damages of any
kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of any Loan Party’s or the Administrative Agent’s transmission
of communications through the internet, except to the extent the liability of any Agent Party is found in a final non-appealable judgment by a court of competent jurisdiction to have resulted primarily from such Agent Party’s gross negligence
or willful misconduct. 
 Section 9.18. Release of Liens and Guarantees. 

(a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, automatically and without the need for any
further action by any person (or, if automatic release is not permitted in accordance with any applicable law, upon request to the Collateral Agent by Holdings or the relevant Loan Party): 

(i) the Liens on the Collateral held by the Collateral Agent shall (without notice to, or vote or consent of, any Secured
Party) be released: (A) in whole or in part, as applicable, as to all or any portion of the Collateral which has been taken by eminent domain, condemnation or other similar circumstances, at the time of such event; (B) in part, as to any
property that is sold, transferred, leased or otherwise disposed of by any Loan Party (other than to any other Loan Party) in a transaction not prohibited by Section 6.03 or Section 6.06, at the time of such sale, transfer or
disposition (which, in connection with sale and leaseback transactions and novations and any refinancings thereof shall include the assets which are the subject of such sale and leaseback transactions, novations and/or refinancings, assets and
contract rights related thereto (including, without limitation, the right to receive rental rebates or deferred sale payments), sub-lease rights, insurances relating thereto and rental deposits); (C) in part, as to any property that is owned or
at any time acquired by a Loan Party that has been released from its Guarantee in accordance with paragraph (b) of this Section 9.18, concurrently with the release of such Guarantee; and (D) otherwise in accordance with any
applicable provisions of the Security Documents or the Intercreditor Agreement; and 

  
 163

 (ii) the Guarantee of a Subsidiary Loan Party given under the Loan Document
Guarantee will be released: (A) in connection with any sale, disposition or transfer of all or substantially all of the assets of that Subsidiary Loan Party (including by way of merger, amalgamation or consolidation) to a Person that is not
(either before or after giving effect to such transaction) Holdings or a Restricted Subsidiary of Holdings, if such sale, disposition or transfer is not prohibited by Section 6.03 or Section 6.06; (B) in connection with
any sale, disposition or transfer of all of the Capital Stock of that Subsidiary Loan Party to a Person that is not (either before or after giving effect to such transaction) Holdings or a Restricted Subsidiary of Holdings, if the sale, disposition
or transfer is not prohibited by Section 6.03 or Section 6.06; or (C) if Holdings designates any Restricted Subsidiary that is a Subsidiary Loan Party to be an Unrestricted Subsidiary in accordance with the applicable
provisions of this Agreement. 
 (b) The Security Documents and the Loan Document Guarantee shall terminate, and each Loan Party
shall automatically and without the need for any further action by any person be released from its obligations thereunder and the security interests in the Collateral granted by any Loan Party shall be automatically released (or, if automatic
release is not permitted in accordance with any applicable law, the Security Documents and the Loan Document Guarantee shall terminate, and each Loan Party shall be released from its obligations thereunder and the security interests in the
Collateral shall be released upon request to the Collateral Agent by Holdings or the relevant Loan Party) upon Full Payment of the Secured Obligations. 
 (c) The Administrative Agent and the Collateral Agent shall promptly (and the Lenders hereby authorize the Administrative Agent and the Collateral Agent to) take such action and execute any such documents
as may be reasonably requested by the applicable Loan Party and at such Loan Party’s expense to evidence or effect any release or termination provided for in this Section 9.18. 

(d) Any representation, warranty or covenant contained in any Loan Document relating to any Equity Interests or assets shall no longer be
deemed to be made once such Equity Interests or asset is conveyed, sold, leased, assigned, transferred or disposed of. 

Section 9.19. U.S.A. PATRIOT Act and Similar Legislation. Each Lender and Issuing Bank hereby notifies each Loan Party that
pursuant to the requirements of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (signed into law on October 26, 2001) (the “U.S.A. PATRIOT
Act”), it is required to obtain, verify and record information that identifies Loan Parties, which information includes the name and address of each Loan Party and other information that will allow the Lenders to identify such Loan Party in
accordance with such legislation. Each Loan Party agrees to furnish such information promptly upon request of a Lender. Each Lender shall be responsible for satisfying its own requirements in respect of obtaining all such information. 

Section 9.20. Judgment. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder
in one currency into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent

  
 164

 
could purchase the first mentioned currency with such other currency at the Administrative Agent’s principal office in New York on the Business Day preceding that on which final judgment is
given. 
 Section 9.21. No Fiduciary Duty. Each Agent, each Lender and their Affiliates (collectively, solely for
purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those of the Borrowers and the other Loan Parties. Each Borrower hereby agrees that subject to applicable law, nothing in the Loan Documents
or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between the Lenders and Borrower, their stockholders or their Affiliates. Each Borrower hereby acknowledges and agrees that
(i) the transactions contemplated by the Loan Documents are arm’s-length commercial transactions between the Lenders, on the one hand, and the Loan Parties, on the other, (ii) in connection therewith and with the process leading to
such transaction none of the Lenders is acting as the agent or fiduciary of any Loan Party, its management, stockholders, creditors or any other person, (iii) no Lender has assumed an advisory or fiduciary responsibility in favor of any Loan
Party with respect to the transactions contemplated hereby or the process leading thereto (irrespective of whether any Lender or any of its Affiliates has advised or is currently advising such Loan Party on other matters) or any other obligation to
any Loan Party except the obligations expressly set forth in the Loan Documents and (iv) each Borrower and other Loan party has consulted its own legal and financial advisors to the extent it has deemed appropriate. Each Borrower further
acknowledges and agrees that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. 
 Section 9.22. Joint and Several Obligations.  
 (a) Each of the
Borrowers shall be jointly and severally liable hereunder and under each of the other Loan Documents with respect to all Obligations, regardless of which of the Borrowers actually receives the proceeds of the Loans or the benefit of any other
extensions of credit hereunder, or the manner in which the Lead Borrower, the Borrowers, the Administrative Agent, the Lenders or any of the Issuing Banks account therefore in their respective books and records. In furtherance and not in limitation
of the foregoing, (i) each Borrower’s obligations and liabilities with respect to proceeds of Loans which it receives or Letters of Credit issued for its account, and related fees, costs and expenses, and (ii) each Borrower’s
obligations and liabilities arising as a result of the joint and several liability of the Borrowers hereunder with respect to proceeds of Loans received by, or Letters of Credit issued for the account of, any of the other Borrowers, together with
the related fees, costs and expenses, shall be separate and distinct obligations, both of which are primary obligations of such Borrower. Except as otherwise provided in any Loan Document, the joint and several liability of any of the Borrowers
shall not be impaired or released by (A) the failure of the Administrative Agent, any Lender, the Collateral Agent or any Issuing Bank, any successors or assigns thereof, or any holder of any Note or any of the Obligations to assert any claim
or demand or to exercise or enforce any right, power or remedy against the Lead Borrower, any Borrower, any Subsidiary of any Borrower, any other Person, the Collateral or otherwise; (B) any extension or renewal for any period (whether or not
longer than the original period) or exchange of any of the Obligations or the release or compromise of any obligation of any nature of any Person with respect thereto; (C) the surrender, release or exchange of all or any part of any property
(including without 

  
 165

 
limitation the Collateral) securing payment, performance and/or observance of any of the Obligations or the compromise or extension or renewal for any period (whether or not longer than the
original period) of any obligations of any nature of any Person with respect to any such property; (D) any action or inaction on the part of the Administrative Agent, the Collateral Agent, any Lender or any Issuing Bank, or any other event or
condition with respect to any other Borrower, including any such action or inaction or other event or condition, which might otherwise constitute a defense available to, or a discharge of, such Borrower, or a guarantor or surety of or for any or all
of the Obligations; and (E) any other act, matter or thing (other than payment or performance of the Obligations) which would or might, in the absence of this provision, operate to release, discharge or otherwise prejudicially affect the
obligations of such Borrower or any other Borrower. 
 (b) Notwithstanding any provision to the contrary contained herein or in
any other of the Loan Documents, to the extent the joint obligations of a Borrower shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of Section 548 of Chapter 11 of the Bankruptcy
Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law) then the Obligations of each Borrower hereunder shall be limited to the maximum amount that is permissible under
applicable law (whether federal or state and including, without limitation, the Bankruptcy Code). 
 (c) To the extent that any
Borrower shall make a payment under this Section 9.22 of all or any of the Obligations (other than Loans made to that Borrower for which it is primarily liable) (a “Guarantor Payment”) that, taking into account all other
Guarantor Payments then previously or concurrently made by any other Borrower, exceeds the amount that such Borrower would otherwise have paid if each Borrower had paid the aggregate Obligations satisfied by such Guarantor Payment in the same
proportion that such Borrower’s Allocable Amount (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Borrowers as determined immediately prior to the making of
such Guarantor Payment, then, following indefeasible payment in full in cash of the Obligations and termination of the Commitments, such Borrower shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each
other Borrower for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. As of any date of determination, the “Allocable Amount” of any Borrower
shall be equal to the maximum amount of the claim that could then be recovered from such Borrower under this Section 9.22 without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code
or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law. This Section 9.22 is intended only to define the relative rights of Borrowers and nothing set forth in
this Section 9.22(c) is intended to or shall impair the obligations of Borrowers, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of this Credit Agreement. Nothing
contained in this Section 9.22 shall limit the liability of any Borrower to pay the Loans made directly or indirectly to that Borrower and accrued interest, Fees and Expenses with respect thereto for which such Borrower shall be
primarily liable. The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets of the Borrower to which such contribution and indemnification is owing. The rights of the indemnifying Borrowers
against other Credit Parties under this Section 9.22 shall be exercisable upon the full and indefeasible payment of the Obligations and the termination of the Commitments. 

  
 166

 (d) The liability of Borrowers under this Section 9.22 is in addition to and
shall be cumulative with all liabilities of each Borrower to Agent and Lenders under this Credit Agreement and the other Loan Documents to which such Borrower is a party, without any limitation as to amount. 

Section 9.23. Appointment for Perfection. Each Lender hereby appoints each other Lender as its agent for the purpose of
perfecting Liens, for the benefit of the Administrative Agent and the Lenders, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession. Should any Lender (other than the Administrative
Agent) obtain possession of any such Collateral, such Lender shall notify the Administrative Agent thereof; and, promptly upon the Administrative Agent’s request therefor shall deliver such Collateral to the Administrative Agent or otherwise
deal with such Collateral in accordance with the Administrative Agent’s instructions. 

  
 167

 IN WITNESS WHEREOF, each of the undersigned has caused this Credit Agreement to be duly
executed and delivered by its duly authorized officer or other representative as of the day and year first above written. 
  

			
	Lead Borrower
	
	TPC GROUP INC.
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel
	
	SAWGRASS MERGER SUB INC.
	
	 /s/ Neil A. Wizel

	By:	 	Neil A. Wizel
	Its:	 	Co-President and Treasurer
	
	 /s/ Jack Norris

	By:	 	Jack Norris
	Its:	 	Co-President and Secretary
	
	Holdings
	
	TPC HOLDINGS, INC.
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel

			
	Designated Borrowers
	
	TPC GROUP LLC
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel
	
	TP CAPITAL CORP.
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel
	
	TEXAS BUTYLENE CHEMICAL CORPORATION
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel
	
	TEXAS OLEFINS DOMESTIC INTERNATIONAL SALES CORPORATION
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel

			
	PORT NECHES FUELS, LLC
	
	 /s/ Rishi A. Varma

	By:	 	Rishi A. Varma
	Its:	 	Vice President, General Counsel

 
			
	Administrative Agent
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Laura Wieland

	Name:	 	Laura Wieland
	Title:	 	Vice President
	
	Collateral Agent
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Laura Wieland

	Name:	 	Laura Wieland
	Title:	 	Vice President

			
	Lenders
	
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Laura Wieland

	Name:	 	Laura Wieland
	Title:	 	Vice President
	
	WELLS FARGO BANK, N.A.
		
	By: 	 	 /s/ Karen Cox

	Name:	 	Karen Cox
	Title:	 	Director
	
	BANK OF MONTREAL
		
	By: 	 	 /s/ Michael Scolaro

	Name:	 	Michael W. Scolaro
	Title:	 	Managing Director
	
	JEFFERIES FINANCE LLC
		
	By: 	 	 /s/ E.J. Hess

	Name:	 	E.J. Hess
	Title:	 	Managing Director
	
	MORGAN STANLEY BANK, N.A.
		
	By:	 	 /s/ Lisa Hanson

	Name:	 	Lisa Hanson
	Title:	 	Authorized Signatory

			
	 DEUTSCHE BANK TRUST
 COMPANY AMERICAS

		
	By: 	 	 /s/ MZL

	Name:	 	MZL
	Title:	 	
		
	By:	 	 /s/ Phil Sauders

	Name:	 	Phil Sauders
	Title:	 	Director
	
	GOLDMAN SACHS BANK USA
		
	By: 	 	 /s/ Robert Ehudin

	Name:	 	Robert Ehudin
	Title:	 	Authorized SignatoryIndenture

 Exhibit 10.2 
 EXECUTION VERSION 
  
  

TPC Group Inc. 
 8.75% SENIOR SECURED NOTES DUE 2020 
 INDENTURE 

Dated as of December 20, 2012 
 Wells Fargo Bank, National Association 
 Trustee & Collateral Agent

  
  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	 Section 1.01
	 	 Definitions
	  	 	1	  
			
	 Section 1.02
	 	 Other Definitions
	  	 	46	  
			
	 Section 1.03
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	47	  
			
	 Section 1.04
	 	 Rules of Construction
	  	 	47	  
		
	 ARTICLE 2 THE NOTES
	  	 	47	  
			
	 Section 2.01
	 	 Form and Dating
	  	 	47	  
			
	 Section 2.02
	 	 Execution and Authentication
	  	 	48	  
			
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	49	  
			
	 Section 2.04
	 	 Paying Agent to Hold Money in Trust
	  	 	49	  
			
	 Section 2.05
	 	 Holder Lists
	  	 	50	  
			
	 Section 2.06
	 	 Transfer and Exchange
	  	 	50	  
			
	 Section 2.07
	 	 Replacement Notes
	  	 	61	  
			
	 Section 2.08
	 	 Outstanding Notes
	  	 	61	  
			
	 Section 2.09
	 	 Treasury Notes
	  	 	61	  
			
	 Section 2.10
	 	 Temporary Notes
	  	 	62	  
			
	 Section 2.11
	 	 Cancellation
	  	 	62	  
			
	 Section 2.12
	 	 Defaulted Interest
	  	 	62	  
			
	 Section 2.13
	 	 CUSIP Numbers
	  	 	62	  
		
	 ARTICLE 3 REDEMPTION AND PREPAYMENT
	  	 	63	  
			
	 Section 3.01
	 	 Notices to Trustee
	  	 	63	  
			
	 Section 3.02
	 	 Selection of Notes to Be Redeemed
	  	 	63	  
			
	 Section 3.03
	 	 Notice of Redemption
	  	 	63	  
			
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	64	  
			
	 Section 3.05
	 	 Deposit of Redemption Price
	  	 	65	  
			
	 Section 3.06
	 	 Notes Redeemed in Part
	  	 	65	  
			
	 Section 3.07
	 	 Optional Redemption
	  	 	65	  
			
	 Section 3.08
	 	 Mandatory Redemption
	  	 	67	  
			
	 Section 3.09
	 	 Calculation of Redemption Price
	  	 	67	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE 4 COVENANTS
	  	 	67	  
			
	 Section 4.01
	 	 Payment of Notes
	  	 	67	  
			
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	67	  
			
	 Section 4.03
	 	 Reports
	  	 	68	  
			
	 Section 4.04
	 	 Compliance Certificate
	  	 	69	  
			
	 Section 4.05
	 	 Restricted Payments
	  	 	70	  
			
	 Section 4.06
	 	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	 	77	  
			
	 Section 4.07
	 	 Incurrence of Indebtedness and Issuance of Preferred Equity
	  	 	80	  
			
	 Section 4.08
	 	 Asset Sales
	  	 	85	  
			
	 Section 4.09
	 	 Transactions with Affiliates
	  	 	89	  
			
	 Section 4.10
	 	 Liens
	  	 	92	  
			
	 Section 4.11
	 	 Business Activities
	  	 	92	  
			
	 Section 4.12
	 	 Offer to Repurchase Upon Change of Control
	  	 	92	  
			
	 Section 4.13
	 	 Payments for Consent
	  	 	94	  
			
	 Section 4.14
	 	 Additional Note Guarantees
	  	 	95	  
			
	 Section 4.15
	 	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	95	  
			
	 Section 4.16
	 	 Changes in Covenants upon Notes being Rated Investment Grade
	  	 	96	  
			
	 Section 4.17
	 	 Further Assurances, Instruments and Acts
	  	 	96	  
			
	 Section 4.18
	 	 Real Property
	  	 	97	  
			
	 Section 4.19
	 	 Post-Closing Matters
	  	 	97	  
			
	 Section 4.20
	 	 Notification
	  	 	99	  
		
	 ARTICLE 5 SUCCESSORS
	  	 	99	  
			
	 Section 5.01
	 	 Consolidation, Amalgamation, Merger, or Sale of Assets
	  	 	99	  
			
	 Section 5.02
	 	 Successor Substituted
	  	 	101	  
			
	 Section 5.03
	 	 Evidence to Be Given to Trustee
	  	 	101	  
		
	 ARTICLE 6 DEFAULTS AND REMEDIES
	  	 	101	  
			
	 Section 6.01
	 	 Events of Default
	  	 	101	  
			
	 Section 6.02
	 	 Acceleration
	  	 	104	  
			
	 Section 6.03
	 	 Other Remedies
	  	 	104	  

  
 -ii-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 6.04
	 	 Waiver of Past Defaults
	  	 	105	  
			
	 Section 6.05
	 	 Control by Majority
	  	 	105	  
			
	 Section 6.06
	 	 Limitation on Suits
	  	 	105	  
			
	 Section 6.07
	 	 Rights of Holders to Receive Payment
	  	 	105	  
			
	 Section 6.08
	 	 Collection Suit by Trustee
	  	 	106	  
			
	 Section 6.09
	 	 Trustee or Collateral Agent May File Proofs of Claim
	  	 	106	  
			
	 Section 6.10
	 	 Priorities
	  	 	107	  
			
	 Section 6.11
	 	 Undertaking for Costs
	  	 	107	  
		
	 ARTICLE 7 TRUSTEE
	  	 	107	  
			
	 Section 7.01
	 	 Duties of Trustee
	  	 	107	  
			
	 Section 7.02
	 	 Rights of Trustee
	  	 	108	  
			
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	110	  
			
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	110	  
			
	 Section 7.05
	 	 Notice of Defaults
	  	 	110	  
			
	 Section 7.06
	 	 Reports by Trustee to Holders
	  	 	110	  
			
	 Section 7.07
	 	 Compensation and Indemnity
	  	 	111	  
			
	 Section 7.08
	 	 Replacement of Trustee
	  	 	112	  
			
	 Section 7.09
	 	 Successor Trustee by Merger, etc.
	  	 	113	  
			
	 Section 7.10
	 	 Eligibility; Disqualification
	  	 	113	  
			
	 Section 7.11
	 	 Preferential Collection of Claims Against the Issuer
	  	 	113	  
		
	 ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	113	  
			
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	113	  
			
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	113	  
			
	 Section 8.03
	 	 Covenant Defeasance
	  	 	114	  
			
	 Section 8.04
	 	 Conditions to Legal or Covenant Defeasance
	  	 	115	  
			
	 Section 8.05
	 	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	  	 	116	  
			
	 Section 8.06
	 	 Repayment to the Issuer
	  	 	116	  
			
	 Section 8.07
	 	 Reinstatement
	  	 	117	  

  
 -iii-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	117	  
			
	 Section 9.01
	 	 Without Consent of Holders
	  	 	117	  
			
	 Section 9.02
	 	 With Consent of Holders
	  	 	118	  
			
	 Section 9.03
	 	 Intentionally Omitted
	  	 	120	  
			
	 Section 9.04
	 	 Revocation and Effect of Consents
	  	 	120	  
			
	 Section 9.05
	 	 Notation on or Exchange of Notes
	  	 	120	  
			
	 Section 9.06
	 	 Trustee to Sign Amendments, etc.
	  	 	120	  
		
	 ARTICLE 10 NOTE GUARANTEES
	  	 	121	  
			
	 Section 10.01
	 	 Guarantee
	  	 	121	  
			
	 Section 10.02
	 	 Limitation on Guarantor Liability
	  	 	122	  
			
	 Section 10.03
	 	 Intentionally Omitted
	  	 	122	  
			
	 Section 10.04
	 	 Guarantors May Consolidate, etc., on Certain Terms
	  	 	122	  
			
	 Section 10.05
	 	 Releases
	  	 	123	  
		
	 ARTICLE 11 SATISFACTION AND DISCHARGE
	  	 	124	  
			
	 Section 11.01
	 	 Satisfaction and Discharge
	  	 	124	  
			
	 Section 11.02
	 	 Application of Trust Money
	  	 	125	  
		
	 ARTICLE 12 COLLATERAL AND SECURITY
	  	 	125	  
			
	 Section 12.01
	 	 Security Documents; Additional Collateral; Intercreditor Agreement
	  	 	125	  
			
	 Section 12.02
	 	 Intentionally Omitted
	  	 	126	  
			
	 Section 12.03
	 	 Release of Collateral
	  	 	126	  
			
	 Section 12.04
	 	 Form and Sufficiency of Release
	  	 	127	  
			
	 Section 12.05
	 	 Possession and Use of Collateral
	  	 	128	  
			
	 Section 12.06
	 	 Intentionally Omitted
	  	 	128	  
			
	 Section 12.07
	 	 Collateral Agent
	  	 	128	  
			
	 Section 12.08
	 	 Purchaser Protected
	  	 	132	  
			
	 Section 12.09
	 	 Authorization of Actions to Be Taken by the Collateral Agent Under the Security Documents
	  	 	132	  
			
	 Section 12.10
	 	 Authorization of Receipt of Funds by the Trustee Under the Security Agreement
	  	 	132	  
			
	 Section 12.11
	 	 Powers Exercisable by Receiver or Collateral Agent
	  	 	132	  

  
 -iv-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 12.12
	 	 Compensation and Indemnification
	  	 	133	  
		
	 ARTICLE 13 APPLICATION OF TRUST MONIES
	  	 	133	  
			
	 Section 13.01
	 	 Collateral Account
	  	 	133	  
			
	 Section 13.02
	 	 Withdrawal of Net Proceeds to Fund an Asset Sale Offer
	  	 	133	  
			
	 Section 13.03
	 	 Withdrawal of Trust Monies for Investment in Replacement Assets
	  	 	134	  
			
	 Section 13.04
	 	 Investment of Trust Monies
	  	 	134	  
			
	 Section 13.05
	 	 Use of Trust Monies; Retirement of Notes
	  	 	134	  
			
	 Section 13.06
	 	 Disposition of Notes Retired
	  	 	135	  
		
	 ARTICLE 14 MISCELLANEOUS
	  	 	135	  
			
	 Section 14.01
	 	 Intentionally Omitted
	  	 	135	  
			
	 Section 14.02
	 	 Notices
	  	 	135	  
			
	 Section 14.03
	 	 Communication by Holders with Other Holders
	  	 	137	  
			
	 Section 14.04
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	137	  
			
	 Section 14.05
	 	 Statements Required in Certificate or Opinion
	  	 	137	  
			
	 Section 14.06
	 	 Rules by Trustee and Agents
	  	 	138	  
			
	 Section 14.07
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	138	  
			
	 Section 14.08
	 	 Governing Law
	  	 	138	  
			
	 Section 14.09
	 	 Successors
	  	 	139	  
			
	 Section 14.10
	 	 Severability
	  	 	139	  
			
	 Section 14.11
	 	 Counterpart Originals
	  	 	139	  
			
	 Section 14.12
	 	 Table of Contents, Headings, etc.
	  	 	139	  
			
	 Section 14.13
	 	 Waiver of Immunity
	  	 	139	  
			
	 Section 14.14
	 	 Waiver of Jury Trial
	  	 	139	  
			
	 Section 14.15
	 	 U.S.A. Patriot Act
	  	 	140	  

  

					
	 EXHIBITS
	 	
			
	Exhibit A1	 	 Form of 144A Note
	 	
	Exhibit A2	 	 Form of Regulation S Global Note
	 	
	Exhibit B	 	 Form of Certificate of Transfer
	 	
	Exhibit C	 	 Form of Certificate of Exchange
	 	
	Exhibit D	 	 Form of Supplemental Indenture
	 	

  
 -v-

 INDENTURE dated as of December 20, 2012 among TPC Group Inc., a Delaware corporation
(the “Issuer”), the Guarantors (as defined herein) and Wells Fargo Bank, National Association, a national banking association, as Trustee and Collateral Agent. 

The Issuer, the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the
Holders (as defined herein) of (a) the $655,000,000 aggregate principal amount of the Issuer’s 8.75% Senior Secured Notes due 2020 issued on the date hereof (the “Initial Notes”) and (b) any Additional Notes (as
defined herein) that may be issued after the date hereof (all such securities in clauses (a) and (b) being referred to collectively as the “Notes”): 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

“144A Global Note” means a Global Note substantially in the form of Exhibit A1 hereto bearing the Global Note Legend and
the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 “ABL Facility Collateral Agent” means the collateral agent under the Credit Agreement, which, on the Issue
Date, will be Bank of America, N.A., or if the Credit Agreement is no longer outstanding, the “Successor ABL Facility Collateral Agent”. 
 “ABL Liens” means all Liens in favor of the ABL Facility Collateral Agent on Collateral securing the ABL Obligations. 

“ABL Obligations” means (i) the Indebtedness and other obligations incurred under Section 4.07(b)(1) and
Section 4.07(b)(15) (to the extent incurred under a Credit Facility) which are secured by Permitted Liens on the Collateral, including any interest, fees, expenses or indemnification obligations related thereto and (ii) certain Hedging
Obligations and cash management and other “bank product” obligations owed to an agent, an arranger or a lender or an affiliate of an agent, an arranger or a lender under a Credit Facility and more particularly described in the
Intercreditor Agreement. 
 “ABL Priority Collateral” has the meaning ascribed to the term “Revolver First
Priority Collateral” in the Intercreditor Agreement. 
 “ABL Security Documents” means one or more
security agreements, pledges, mortgages, deeds of trust, pledge agreements, collateral assignments, trust deeds or other security documents or instruments evidencing or creating or purporting to create any security interests in favor of the ABL
Facility Collateral Agent under the Credit Agreement or another Credit Facility. 

  
 -1-

 “Acquired Debt” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted
Subsidiary of such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person; and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Additional Assets” means: 
 (1) any properties or assets to be used by the Issuer or a Restricted Subsidiary of the Issuer in a Permitted Business; 

(2) capital expenditures by the Issuer or a Restricted Subsidiary of the Issuer in a Permitted Business; 

(3) the Capital Stock of a Person that becomes a Restricted Subsidiary of the Issuer as a result of the acquisition of
such Capital Stock by the Issuer or another Restricted Subsidiary of the Issuer; or 
 (4) Capital Stock
constituting a minority interest in any Person that at such time is a Restricted Subsidiary of the Issuer. 
 provided,
however, that, in the case of clauses (3) and (4), such Restricted Subsidiary is primarily engaged in a Permitted Business. 
 “Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Sections 2.02, 4.07, and 4.10 hereof, as part of the same series as
the Initial Notes, whether or not they bear the same “CUSIP” number. 
 “Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means
the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the
terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 
 “Agent” means any Registrar, co–registrar, Paying Agent or other agent appointed hereunder. 
 “Applicable Premium” means, with respect to any Note on any redemption date, the greater of: 
 (1) 1.0% of the principal amount of the Note; or 

  
 -2-

 (2) the excess of: (a) the present value at such redemption date of
(i) the redemption price of the Note at December 15, 2016, (such redemption price being set forth in the table appearing in Section 3.07(b) hereof) plus (ii) all required interest payments due on the Note through
December 15, 2016 (excluding accrued but unpaid interest to the applicable redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the principal amount of the
Note. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests
in any Global Note, the rules and procedures of the Depositary that apply to such transfer or exchange. 
 “Asset
Acquisition” means: 
 (1) an Investment by the Issuer or any Restricted Subsidiary of the Issuer in any
other Person pursuant to which such Person shall become a Restricted Subsidiary of the Issuer or any Restricted Subsidiary of the Issuer, or shall be merged with or into or consolidated with the Issuer or any Restricted Subsidiary of the Issuer; or

 (2) the acquisition by the Issuer or any Restricted Subsidiary of the Issuer of the assets of any Person
(other than a Restricted Subsidiary of the Issuer) which constitute all or substantially all of the assets of such Person or comprise any division or line of business of such Person or any other properties or assets of such Person other than in the
ordinary course of business. 
 “Asset Sale” means: 

(1) the sale, lease, conveyance or other disposition of any assets or rights of the Issuer and its Restricted Subsidiaries
(including by way of a Sale/Leaseback Transaction); provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries taken as a whole will be governed by
Section 4.12 hereof and/or Section 5.01 hereof and not by Section 4.08 hereof; and 
 (2) the
issuance or sale of Equity Interests in any of the Issuer’s Restricted Subsidiaries (other than Preferred Stock of Restricted Subsidiaries issued in compliance with Section 4.07 and directors’ qualifying shares or shares required by
applicable law to be held by a Person other than the Issuer or a Restricted Subsidiary). 
 Notwithstanding the preceding, none
of the following items will be deemed to be an Asset Sale: 
 (1) any single transaction or series of related
transactions that involves assets or Equity Interests of any Restricted Subsidiary of the Issuer having a Fair Market Value of less than $20.0 million; 
 (2) a transfer of assets between or among the Issuer and any Restricted Subsidiary of the Issuer; provided that any transfers from the Issuer or a Guarantor to a Restricted Subsidiary of the Issuer
of assets that constitute Collateral do not result in the Lien on such Collateral being released; 

  
 -3-

 (3) an issuance or sale of Equity Interests by a Restricted Subsidiary of
the Issuer to the Issuer or to another Restricted Subsidiary of the Issuer; 
 (4) the sale or lease of
inventory, products or services or the lease, assignment or sub–lease of any real or personal property; 

(5) the sale or discounting of accounts receivable in the ordinary course of business; 

(6) any sale or other disposition of damaged, worn–out, obsolete or no longer useful assets or properties;

 (7) any sale of assets received by the Issuer or any of its Restricted Subsidiaries upon the foreclosure,
condemnation or similar action on a Lien; 
 (8) the sale or other disposition of cash, Cash Equivalents or
Marketable Securities; 
 (9) a sale of accounts receivable and related assets of the type specified in the
definition of “Receivables Financing” to a Receivables Subsidiary in a Qualified Receivables Financing; 
 (10) a transfer of accounts receivable and related assets of the type specified in the definition of “Receivables Financing” (or a fractional undivided interest therein) by a Receivables
Subsidiary in a Qualified Receivables Financing; 
 (11) a Restricted Payment that does not violate
Section 4.05 hereof or a Permitted Investment; 
 (12) any sale of Equity Interests in, or Indebtedness or
other securities of, an Unrestricted Subsidiary; 
 (13) the granting of Liens not otherwise prohibited by this
Indenture; 
 (14) the surrender, or waiver of contract rights, leases or settlement, release or surrender of
contract, tort or other claims; 
 (15) the grant in the ordinary course of business of any license of patents,
trademarks, know–how and any other intellectual property; 
 (16) the early termination or unwinding of any
Hedging Obligations; 
 (17) sales, transfers and other dispositions of Investments in joint ventures to the
extent required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth in joint venture arrangements or similar binding arrangements; 

  
 -4-

 (18) the lapse, cancellation or abandonment of intellectual property rights
in the ordinary course of business, which in the reasonable good faith determination of the Issuer are not material to the conduct of the business of the Issuer and the Restricted Subsidiaries taken as a whole; 

(19) the sale of any property in a Sale/Leaseback Transaction within six months of the acquisition of such property;

 (20) any disposition of (x) MTBE Assets, (y) Capital Stock of any MTBE Subsidiary or Permitted MTBE
Joint Venture and (z) the real property upon which MTBE Assets disposed of pursuant to subclause (x) are located; provided that with respect to the disposition of real property the boundaries of the real property being disposed of
shall have been described in a third–party survey; and 
 (21) any transaction occurring as a result of the
MLP Formation Transactions or any MLP Drop–Down. 
 In the event that a transaction (or any portion thereof) meets the
criteria of a permitted Asset Sale and would also be a permitted Restricted Payment or Permitted Investment, the Issuer, in its sole discretion, will be entitled to divide and classify such transaction (or any portion thereof) as an Asset Sale
and/or one or more of the types of permitted Restricted Payments or Permitted Investments. 
 “Bankruptcy Law”
means Title 11, United States Bankruptcy Code of 1978, as amended, or any similar U.S. federal or state law relating to bankruptcy, insolvency, receivership, winding–up, liquidation, reorganization or relief of debtors or any amendment to,
succession to or change in any such law. 
 “Bank Products” means any facilities or services related to cash
management, including treasury, depository, overdraft, credit or debit card, purchase card, electronic funds transfer, cash pooling and other cash management arrangements and commercial credit card and merchant card services. 

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

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

  
 -5-

 (2) with respect to a partnership, the board of directors or other governing
body of the general partner of the partnership; 
 (3) with respect to a limited liability company, the board of
directors or other governing body, and in the absence of the same, the manager or board of managers or the managing member or members or any controlling committee thereof; and 

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

“Borrowing Base” means the sum of (1) 85% of the book value (calculated in accordance with GAAP) of the accounts
receivable of the Issuer and its Restricted Subsidiaries and (2) 65% of the book value (calculated in accordance with GAAP) of the inventory of the Issuer and its Restricted Subsidiaries, in each case as shown on the most recent consolidated
balance sheet of the Issuer and its Restricted Subsidiaries. 
 “Business Day” means a day other than a
Saturday, Sunday or other day on which banking institutions are authorized or required by law to close in New York State. 

“Capital Improvement” means any (a) addition or improvement to the capital assets owned by any Group Member,
(b) acquisition (through an asset acquisition, merger, stock acquisition or other form of investment) of existing, or the construction of new, capital assets or (c) capital contribution by a Group Member to a Person that is not an MLP
Subsidiary, in which a Group Member has an equity interest, or after such capital contribution will have an equity interest, to fund the Group Member’s pro rata share of the cost of the acquisition of existing, or the construction of new or the
improvement of existing, capital assets, in each case, if such addition, improvement, acquisition or construction is made to increase the long–term operating capacity or net income of the Company Group from the long–term operating capacity
or net income of the Company Group, in the case of clauses (a) or (b) above, or such Person, in the case of clause (c) above, from that existing immediately prior to such addition, improvement, acquisition or construction. 

“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of
a lease that would at that time be required to be capitalized on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP; provided that any obligations of the Issuer or its Restricted Subsidiaries, or of a special
purpose or other entity not consolidated with the Issuer and its Restricted Subsidiaries, either existing on the Issue Date or created prior to any recharacterization described below (or any refinancings thereof) (i) that were not included on
the consolidated balance sheet of the Issuer as capital lease obligations and (ii) that are subsequently recharacterized as capital lease obligations or, in the case of such a special purpose or other entity becoming consolidated with the
Issuer and its Restricted Subsidiaries, due to a change in accounting treatment or otherwise, shall for all purposes not be treated as Capital Lease Obligations or Indebtedness. 

“Capital Stock” means: 
 (1) in the case of a corporation, corporate stock; 

  
 -6-

 (2) in the case of an association or business entity that is not a
corporation, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and 

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

“Cash Contributions” means the aggregate amount of cash contributions made to the capital of the Issuer or any Guarantor
described in the definition of “Contribution Indebtedness.” 
 “Cash Equivalents” means: 

(1) Canadian dollars, Euros, U.S. dollars or such local currencies held by the Issuer and any of its Restricted
Subsidiaries from time to time in the ordinary course of business; 
 (2) securities issued or directly and fully
guaranteed or insured by the government of the United States or any agency or instrumentality thereof (provided that the full faith and credit of such government is pledged in support of those securities) having maturities of not more than
one year from the date of acquisition; 
 (3) certificates of deposit, time deposits and eurodollar time deposits
with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any lender party to the Credit Agreement having combined capital and
surplus and undivided profits of not less than $500.0 million, whose debt has a rating, at the time as of which any investment made therein is made of at least A–1 by S&P or at least P–1 by Moody’s or having capital and surplus in
excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 
 (4) repurchase
obligations for underlying securities of the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(5) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P and, in each case,
maturing within one year after the date of acquisition; 
 (6) securities issued or fully guaranteed by any state
or commonwealth of the United States, or by any political subdivision or taxing authority thereof having one of the two highest ratings obtainable from Moody’s or S&P, and, in each case, maturing within one year after the date of
acquisition; 

  
 -7-

 (7) money market funds at least 95% of the assets of which constitute Cash
Equivalents of the kinds described in clauses (1) through (5) of this definition; and 
 (8)
Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or “A–2” from Moody’s with maturities of 24 months or less from the date of acquisition. 

“Cash Management Obligations” means obligations owed by the Issuer or any Guarantor to any lender or Affiliate of a
lender under the Credit Agreement in respect of any overdraft and related liabilities arising from treasury, depositary and cash management services or any automated clearing house transfers of funds. 

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

(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d) of the
Exchange Act), other than the Permitted Holders; or 
 (2) the consummation of any transaction (including,
without limitation, any merger or consolidation), the result of which is that any “person” (as defined above), other than the Permitted Holders, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of
the Issuer, measured by voting power rather than number of shares. 
 Notwithstanding the preceding, a conversion of the Issuer
or any of its Restricted Subsidiaries from a limited liability company, corporation, limited partnership or other form of entity to a limited liability company, corporation, limited partnership or other form of entity or an exchange of all of the
outstanding Capital Stock in one form of entity for Capital Stock for another form of entity shall not constitute a Change of Control, so long as following such conversion or exchange the “persons” (as that term is used in
Section 13(d)(3) of the Exchange Act) who Beneficially Owned the Capital Stock of the Issuer immediately prior to such transactions continue to Beneficially Own in the aggregate more than 50% of the Voting Stock of such entity, or continue
to Beneficially Own sufficient Equity Interests in such entity to elect a majority of its directors, managers, trustees or other persons serving in a similar capacity for such entity, and in either case no “person” Beneficially Owns more
than 50% of the Voting Stock of such entity. 
 “Code” means the Internal Revenue Code of 1986, as amended.

 “Collateral” means all of the assets and properties subject to the Liens created by the Security Documents.

 “Collateral Account” means the collateral account established pursuant to this Indenture and the Security
Documents in the name and under the sole dominion and control of the Collateral Agent. 

  
 -8-

 “Collateral Agent” means Wells Fargo Bank, National Association, acting in
its capacity as collateral agent under the Security Documents, or any successor thereto. 
 “Commences Commercial
Services” means a Capital Improvement is first put into commercial service by a Group Member following, if applicable, completion of construction and testing. 
 “Commodity Agreements” means, in respect of any Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement and designed
to protect such Person against fluctuation in commodity prices. 
 “Company Group” means the Issuer, its
Restricted Subsidiaries and its MLP Subsidiaries treated as a single entity. 
 “Consolidated Adjusted EBITDA”
means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period (A) plus, without duplication to the extent the same was deducted in calculating Consolidated Net Income: 

(1) provision for taxes based on income, profits or capital, including without limitation provincial, state, franchise,
local, foreign and similar taxes, of such Person and its Restricted Subsidiaries, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 

(2) the Fixed Charges of such Person and its Restricted Subsidiaries for such period (including net losses on Hedging
Obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, to the extent included in Fixed Charges), to the extent that such Fixed Charges were deducted in computing such Consolidated Net Income;
plus 
 (3) depreciation, amortization (including the amortization of turnaround costs, goodwill and other
intangibles, deferred financing fees and any amortization included in pension, OPEB or other employee benefit expenses, but excluding amortization of prepaid cash expenses that were paid in a prior period) and other non–cash expenses (including
without limitation write–downs and impairment of property, plant, equipment and intangibles and other long–lived assets (including pursuant to the application of ASC 350 and ASC 360 (formerly Financial Accounting Standards Board Statement
Nos. 142 and 144, respectively)) and the impact of purchase accounting, but excluding any such non–cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash
expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non–cash expenses were deducted in computing such Consolidated Net Income;
plus 
 (4) the amount of any restructuring charges (which, for the avoidance of doubt, shall include
retention, severance, integration, business optimization, systems establishment cost or excess pension, OPEB, curtailment or other excess charges); plus 

  
 -9-

 (5) the minority expense relating to any partner in a joint venture which is
consolidated with the Issuer for accounting purposes and the minority interest expense consisting of subsidiary income attributable to minority equity interests of third parties in any non–Wholly Owned Subsidiary in such period or any prior
period, except to the extent of dividends declared or paid on Equity Interests held by third parties; plus 
 (6) the amount of management, consulting, monitoring and advisory fees and related expenses paid to the Equity Investors or any other Permitted Holder (or any accruals related to such fees and related
expenses) during such period; provided that such amount shall not exceed in any four quarter period the greater of (x) $2.5 million and (y) 1.0% of Consolidated Adjusted EBITDA of the Issuer and its Restricted Subsidiaries for such
period; plus 
 (7) accretion of asset retirement obligations in accordance with SFAS No. 143,
Accounting for Asset Retirement Obligations, and any similar accounting in prior periods; plus 
 (8) to
the extent not otherwise included, the proceeds of any business interruption insurance received during such period; plus 
 (9) any adjustments that result from timing differences between the purchase of crude C4 in one period and the sale of finished butadiene in a later period, caused by monthly butadiene price changes, to
the extent such adjustments are calculated in a manner consistent with the calculation of such adjustments as presented in the Offering Document; plus 
 (10) any adjustments related to any impact from supplier plant shut downs, other than in the ordinary course of business; minus 

(B) (1) non–cash items increasing such Consolidated Net Income for such period, other than (i) any items which represent
the reversal of any accrual of, or cash reserve for, anticipated charges in any prior period where such accrual or reserve is no longer required and (ii) any items which represent the impact of purchase accounting; and (2) the minority
interest income consisting of subsidiary losses attributable to the minority equity interests of third parties in any non–Wholly Owned Restricted Subsidiary. 
 “Consolidated Net Income” means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a
consolidated basis; provided that: 
 (1) any net after–tax extraordinary, unusual or nonrecurring
gains or losses or income or expense or charge (including, without limitation, income, expenses and charges from litigation and arbitration settlements, severance, relocation and other restructuring costs), any severance or relocation expense,
pre–operating expenses that are expensed and not capitalized, and fees, expenses or charges related to any offering of Equity Interests of such Person, any Investment, acquisition, disposition or incurrence or repayment of Indebtedness or other
obligations permitted to be incurred hereunder (in each case, whether or not successful), including all fees, expenses and charges, and any 

  
 -10-

 
financing charges (including relating to the Transactions), including penalty interest and bank charges, related to any Indebtedness or other obligations, in each case, shall be excluded;

 (2) any net after–tax income or loss from disposed, abandoned, transferred, closed or discontinued
operations and any net after–tax gain or loss on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; 
 (3) any net after–tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of
business (as determined in good faith by the Issuer) shall be excluded; 
 (4) any net after–tax income or
loss (less all fees and expenses or charges relating thereto) attributable to the early extinguishment of indebtedness and Hedging Obligations or other derivative instruments shall be excluded; 

(5) (A) the Net Income for such period of any Person that is not a Subsidiary, or that is an Unrestricted Subsidiary, or
that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments in respect of equity that are actually paid in cash (or to the extent converted into cash)
by the referent Person to the Issuer or a Restricted Subsidiary thereof in respect of such period and (B) the Net Income for such period shall include any dividend, distribution or other payments in respect of equity paid in cash by such Person
to the Issuer or a Restricted Subsidiary thereof in excess of the amount included in clause (A); 
 (6) any
increase in depreciation or amortization or any one–time non–cash charges (such as purchased in–process research and development or capitalized manufacturing profit in inventory) resulting from purchase accounting in connection with
any acquisition that is consummated prior to or after the Issue Date shall be excluded; 
 (7) accruals and
reserves that are established within 12 months after an acquisition’s closing date and that are so required to be established as a result of such transaction in accordance with GAAP or as a result of a modification of accounting policies shall
be excluded; 
 (8) any impairment charges resulting from the application of ASC 350 and ASC 360 (formerly
Financial Accounting Standards Board Statement Nos. 142 and No. 144, respectively) and the amortization of intangibles pursuant to ASC 805 (formerly Financial Accounting Standards Board Statement No. 141) or asset write–offs
shall be excluded; 
 (9) any long–term incentive plan accruals and any compensation expense realized from
grants of stock appreciation or similar rights, stock options or other rights to officers, directors and employees of such Person or any of its Restricted Subsidiaries shall be excluded; 

  
 -11-

 (10) any asset impairment writedowns or writeoffs under GAAP or SEC
guidelines shall be excluded; 
 (11) (A) any unrealized non–cash gains or losses or charges in respect of
Hedging Obligations (including those resulting from the application of Financial Accounting Standards Codification No. 815–Derivatives and Hedging (formerly SFAS 133)(or such successor provision)), (B) any foreign exchange gains
and losses and (C) any adjustments for financial instruments, derivatives or Hedging Obligations required by GAAP shall be excluded except for any realized exchange gains or losses on derivative instruments which are included as offsets to
operating items as part of a designated hedging relationship; 
 (12) solely for the purpose of determining the
amount available for Restricted Payments under Section 4.05(a)(C)(i) hereof and the calculation of Operating Surplus and Incremental Funds, as applicable, the Net Income of any Restricted Subsidiary of the Issuer (other than a Guarantor
and any joint venture that is consolidated with the Issuer for accounting purposes) will be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the
date of determination permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or
governmental regulation applicable to that Restricted Subsidiary or its stockholders or members, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; provided that Consolidated Net
Income of such Person shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into cash) by such Person to the Issuer or another Restricted Subsidiary thereof in
respect of such period, to the extent not already included therein; 
 (13) the cumulative effect of a change in
accounting principles shall be excluded; and 
 (14) any non–cash compensation expense realized from
employee benefit plans or post–employment benefit plans, grants of stock appreciation or similar rights, stock options or other rights to officers, directors and employees of such Person or any of its Restricted Subsidiaries shall be excluded.

 “Consolidated Total Indebtedness” means, as at any date of determination, an amount equal to the sum of
(1) the aggregate amount of all outstanding Indebtedness of the Issuer and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money and debt obligations evidenced by promissory notes and similar
instruments, as determined in accordance with GAAP (excluding for the avoidance of doubt all undrawn amounts under revolving credit facilities and letters of credit and all obligations under Qualified Receivables Financings, all Hedging Obligations
and all Capital Lease Obligations) and (2) the aggregate amount of all outstanding Disqualified Stock of the Issuer and its Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock equal to the greater of
their respective voluntary or involuntary liquidation preferences and maximum fixed 

  
 -12-

 
repurchase prices, in each case determined on a consolidated basis in accordance with GAAP. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock that does
not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any date on which Consolidated Total Indebtedness shall be required to be determined
pursuant to this Indenture, and if such price is based upon, or measured by, the Fair Market Value of such Disqualified Stock, such Fair Market Value shall be determined reasonably and in good faith by the Issuer. The U.S. Dollar–Equivalent
principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations for currency exchange risks with respect to the applicable currency in
effect on the date of determination of the U.S. Dollar–Equivalent principal amount of such Indebtedness. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any performance,
leases, dividends, taxes or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person in any manner, whether directly or indirectly, including, without limitation, any obligation of such
Person, whether or not contingent: 
 (1) to purchase any such primary obligation or any property constituting
direct or indirect security thereof; 
 (2) to advance or supply funds (a) for the purchase or payment of
any such primary obligation or (b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor; or 

(3) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary
obligation of the ability of the primary obligor to make payment of such obligation against loss in respect thereof. 

“Contribution Indebtedness” means Indebtedness of the Issuer or any Guarantor in an aggregate principal amount not
greater than twice the aggregate amount of cash contributions (other than Excluded Contributions) made to the equity capital of the Issuer or such Guarantor after the Issue Date, provided that: 

(1) if the aggregate principal amount of such Contribution Indebtedness is greater than one times such cash contributions
to the equity capital of the Issuer or such Guarantor, as applicable, the amount in excess shall be Indebtedness (other than secured Indebtedness) with a Stated Maturity later than the Stated Maturity of the Notes, and 

(2) such Contribution Indebtedness (x) is incurred within 180 days after the making of such cash contributions and
(y) is designated as Contribution Indebtedness pursuant to an Officer’s Certificate on the incurrence date thereof. 

“Corporate Trust Office of the Trustee” means the designated office of the Trustee at which at any time its corporate
trust business shall be administered, which office at the date hereof is located at 150 East 42nd Street, 40th Floor, New York, New York 10017, Attention: Corporate Trust Services – Administrator for TPC Group, Inc., or such other address

  
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as the Trustee may designate from time to time by notice to the Holders and the Issuer, or the designated corporate trust office of any successor Trustee (or such other address as such successor
Trustee may designate from time to time by notice to the Holders and the Issuer). 
 “Credit Agreement” means
that certain credit agreement, dated as of the Issue Date, by and among the Issuer, Bank of America, N.A., as administrative agent and collateral agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arranger and joint
bookrunner and Jefferies Finance LLC and Morgan Stanley Senior Funding Inc., as joint lead arrangers, joint bookrunners and syndication agents, and the lenders party thereto from time to time, providing for revolving credit borrowings and letters of
credit, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and, in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or
otherwise) or refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time. 
 “Credit Facilities” means one or more debt facilities (including, without limitation, the Credit Agreement), indentures or commercial paper facilities, in each case with banks or other
institutional lenders or investors providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such
receivables), letters of credit or other indebtedness, in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time, including any agreement or indenture extending the maturity thereof or otherwise restructuring all or any portion of the indebtedness thereunder or increasing the amount loaned or
issued thereunder or altering the maturity thereof. 
 “Currency Agreement” means, in respect of a Person, any
foreign exchange contract, currency swap agreement, futures contract, option contract or other similar agreement as to which such Person is a party or a beneficiary. 
 “Custodian” means the custodian appointed by the Depository with respect to any Global Notes, or any successor entity thereto. 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of
Default. 
 “Definitive Note” means a certificated, non–global Note registered in the name of the Holder
thereof and issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A1 or A2 hereto, as applicable, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of
Interests in the Global Note” attached thereto. 
 “Depositary” means, with respect to the Notes issuable
or issued in whole or in part in global form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the
applicable provision of this Indenture. 

  
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 “Designated Non–cash Consideration” means the Fair Market Value of
non–cash consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as “Designated Non–cash Consideration” pursuant to an Officer’s Certificate, setting
forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Non–cash Consideration. 
 “Designated Preferred Stock” means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than Disqualified Stock) that is issued for cash (other than to the
Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date
thereof, the cash proceeds of which are excluded from (i) the calculation set forth in Section 4.05(a)(C)(ii) hereof and (ii) the calculation of Operating Surplus and Incremental Funds, as applicable. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock will not constitute
Disqualified Stock solely because the holders of the Capital Stock have the right to require the Issuer to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale. The amount of Disqualified Stock deemed to be
outstanding at any time for purposes of this Indenture will be the maximum amount that the Issuer and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such
Disqualified Stock, exclusive of accrued dividends. 
 “Domestic Subsidiary” means any Restricted Subsidiary of
the Issuer that was formed under the laws of the United States or any state of the United States or the District of Columbia. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding
any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Investors” means
each of FR XII Alpha AIV, L.P., FR XII-A Alpha AIV, L.P., FR XII Charlie AIV, L.P., FR XII-A Charlie AIV, L.P., and SK Capital Partners III, L.P., and their respective Affiliates. 

“Equity Offering” means (i) an offer and sale of Capital Stock (other than Disqualified Stock) of the Issuer or
(ii) an offer and sale of Capital Stock (other than Disqualified Stock) of a direct or indirect parent of the Issuer (to the extent the net proceeds therefrom are contributed to the equity capital of the Issuer) pursuant to (x) a
registration statement that has been declared effective by the SEC pursuant to the Securities Act (other than a registration statement on Form S–8 or otherwise relating to equity securities issuable under any employee benefit plan of the Issuer
or such direct or indirect parent), or (y) a private issuance exempt from registration under the Securities Act. 

  
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 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Excluded Contributions” means the net cash proceeds received by the Issuer after the Issue Date from:

 (1) contributions to its common equity capital, and 

(2) the sale (other than to a Subsidiary of the Issuer) of Capital Stock (other than Disqualified Stock and Designated
Preferred Stock) of the Issuer, 
 in each case designated as “Excluded Contributions” pursuant to an Officer’s
Certificate, the net cash proceeds of which are excluded from (i) the calculation set forth in Section 4.05(a)(C)(ii) and (ii) the calculation of Operating Surplus and Incremental Funds, as applicable. 

“Expansion Capital Expenditures” means cash expenditures for Capital Improvements. Expansion Capital Expenditures shall
not include Maintenance Capital Expenditures or Investment Capital Expenditures. Expansion Capital Expenditures shall include interest (and related fees) on debt incurred to finance the construction of a Capital Improvement and paid in respect of
the period beginning on the date that a Group Member enters into a binding obligation to commence construction of a Capital Improvement and ending on the earlier to occur of (a) the date that such Capital Improvement Commences Commercial
Service and (b) the date that such Capital Improvement is abandoned or disposed of. Debt incurred or equity issued to fund interest payments described in the immediately preceding sentence or incurred to fund distributions in respect of equity
issued (including incremental incentive distributions related thereto) to fund the construction of a Capital Improvement as described in clause (a)(iv) of the definition of Operating Surplus shall also be deemed to be debt incurred to finance the
construction of a Capital Improvement. Where capital expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the Managing Member shall determine the allocation between the amounts paid for each. 

“Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a
transaction not involving distress or necessity of either party, determined in good faith by (i) the principal financial officer of the Issuer for transactions less than $50.0 million and (ii) the Board of Directors of the Issuer (unless
otherwise provided in this Indenture) for transactions valued at, or in excess of, $50.0 million. 
 “Fixed Charge
Coverage Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated Adjusted EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified
Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than (i) ordinary working capital borrowings and (ii) in the case of revolving
credit borrowings or revolving advances under any Qualified Receivables Financing, in which case interest expense will be computed based upon the average daily balance of such Indebtedness during the applicable period) or issues, repurchases or
redeems preferred equity subsequent to the commencement of the period for which the Fixed 

  
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Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation
Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance,
repurchase or redemption of preferred equity, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four–quarter reference period. 

In addition, for purposes of calculating the Fixed Charge Coverage Ratio, Asset Acquisitions, dispositions, mergers, consolidations and
discontinued operations (as determined in accordance with GAAP), and any related financing transactions, that the specified Person or any of its Restricted Subsidiaries has both determined to make and made after the Issue Date and during the
four–quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall be calculated on a pro forma basis assuming that all such Asset Acquisitions, dispositions, mergers,
consolidations and discontinued operations (and the change of any associated Fixed Charges and the change in Consolidated Adjusted EBITDA resulting therefrom) had occurred on the first day of the four–quarter reference period, including any pro
forma expense and cost reductions and other operating improvements that have occurred or are reasonably expected to occur, in the reasonable judgment of the chief financial officer of the Issuer (regardless of whether these cost savings or operating
improvements could then be reflected in pro forma financial statements in accordance with Regulation S–X promulgated under the Securities Act or any other regulation or policy of the SEC related thereto). Any Person that is a Restricted
Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary at all times during such four–quarter period, and if, since the beginning of the four–quarter reference period, any Person that subsequently became a
Restricted Subsidiary or was merged with or into the Issuer or any of its other Restricted Subsidiaries since the beginning of such period shall have made any acquisition, Investment, disposition, merger, consolidation or discontinued operation, in
each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be adjusted giving pro forma effect thereto for such period as if such Asset
Acquisition, disposition, discontinued operation, merger or consolidation had occurred at the beginning of the applicable four–quarter reference period. Any Person that is not a Restricted Subsidiary on the Calculation Date will be deemed not
to have been a Restricted Subsidiary at any time during such four–quarter period. 
 For purposes of this definition,
whenever pro forma effect is to be given to any transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. If any Indebtedness bears a floating rate of interest and is being
given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such
Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capital Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the
Issuer to be the rate of interest implicit in such Capital Lease Obligation. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed
based upon the average daily balance of such Indebtedness during the applicable period. Interest 

  
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on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have
been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. Any such pro forma calculation may include adjustments appropriate, in the reasonable determination of the Issuer as set
forth in an Officer’s Certificate, to reflect operating expense reductions reasonably expected to result from any acquisition or merger. 
 “Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of: 

(1) the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or
accrued, excluding amortization of deferred financing fees, debt issuance costs and commissions, fees and expenses and the expensing of any bridge, commitment or other financing fees, commissions, discounts, yield and other fees and charges
(including any interest expense) related to any receivables facility but including original issue discount, non–cash interest payments, the interest component of any deferred payment obligations (classified as Indebtedness under this
Indenture), the interest component of all payments associated with Capital Lease Obligations and net of the effect of all payments made or received pursuant to Hedging Obligations in respect of interest rates; plus 

(2) the consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such
period; provided that for purposes of calculating consolidated interest expense, no effect shall be given to the discount and/or premium resulting from the bifurcation of derivatives under Standards Codification No. 815—Derivatives
and Hedging (formerly SFAS 133) and related interpretations as a result of the terms of the Indebtedness to which such consolidated interest expense relate; plus 

(3) all cash dividend payments or other cash distributions on any series of preferred equity of such Person and all other
dividend payments or other distributions on the Disqualified Stock of such Person; less 
 (4) interest
income; less 
 (5) non–cash interest expense attributable to movement in mark to market valuation of
Hedging Obligations or other derivatives under GAAP; less 
 (6) accretion or accrual of discounted
liabilities not constituting Indebtedness; and less 
 (7) any expense resulting from the discounting of
Indebtedness in connection with the application of purchase accounting in connection with any acquisition. 
 “Foreign
Subsidiary” means any Restricted Subsidiary that is not organized under the laws of the United States of America or any state thereof or the District of Columbia. 

  
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 “GAAP” means generally accepted accounting principles in the United States,
set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by
such other entity as have been approved by a significant segment of the accounting profession, as in effect on the Issue Date. At any time after the Issue Date, the Issuer may elect to apply IFRS accounting principles in lieu of GAAP and, upon any
such election, references herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise provided in this Indenture); provided that any such election, once made, shall be irrevocable; provided, further, any
calculation or determination in this Indenture that requires the application of GAAP for periods that include fiscal quarters ended prior to the Issuer’s election to apply IFRS shall remain as previously calculated or determined in accordance
with GAAP. The Issuer shall give notice of any such election made in accordance with this definition to the Trustee. 

“Global Note Legend” means the legend set forth in Section 2.06(f)(2) hereof, which is required to be placed
on all Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each
of the Restricted Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A1 or A2 hereto, as applicable, and that bears the
Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.06(b)(4), 2.06(d)(2) or 2.06(d)(3). 

“Government Securities” means direct obligations of, or obligations Guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Group Member” means a member of the
Company Group. 
 “Guarantee” means a guarantee, other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner, including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any
Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep–well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise). 

“Guarantors” means (1) the Subsidiaries of the Issuer that execute a Note Guarantee on the Issue Date and
(2) any other Subsidiary of the Issuer that executes a Note Guarantee in accordance with the provisions of this Indenture. 

“Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under Interest Rate
Agreements, Currency Agreements or Commodity Agreements. 
 “Holder” means a Person in whose name a Note is
registered in the register maintained by the Registrar. 

  
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 “Indebtedness” means, with respect to any specified Person, any
indebtedness of such Person, whether or not contingent: 
 (1) in respect of borrowed money; 

(2) evidenced by (A) bonds, notes, debentures or similar instruments or (B) letters of credit (or reimbursement
agreements in respect thereof), provided that the underlying obligation in respect of which the letter of credit was issued would, under one or more of clauses (1) above or (3) through (7) below, be treated as being
Indebtedness; 
 (3) in respect of banker’s acceptances; 

(4) representing Capital Lease Obligations; 

(5) representing the balance deferred and unpaid of the purchase price of any property or services due more than six
months after such property is acquired or such services are completed; 
 (6) to the extent not otherwise
included in this definition, net obligations of such Person under Commodity Agreements, Currency Agreements and Interest Rate Agreements (the amount of any such obligations to be equal at any time to the termination value of such agreement or
arrangement giving rise to such obligation that would be payable by such Person at such time); or 
 (7) to the
extent not otherwise included, with respect to the Issuer and its Restricted Subsidiaries, the amount then outstanding (i.e., advanced, and received by, and available for use by, the Issuer or any of its Restricted Subsidiaries) under any
Receivables Financing (as set forth in the books and records of the Issuer or any Restricted Subsidiary of the Issuer and confirmed by the agent, trustee or other representative of the institution or group providing such Receivables Financing),

 if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a
liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes (i) all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or
not such Indebtedness is assumed by the specified Person); provided, however, that the amount of such Indebtedness shall be the lesser of (x) the Fair Market Value of such asset as such date of determination and (y) the
amount of such Indebtedness of such other Person; and (ii) to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person. 

Notwithstanding the foregoing, “Indebtedness” shall not include (a) accrued expenses, royalties and trade payables;
(b) Contingent Obligations; (c) asset retirement obligations and obligations in respect of reclamation and workers’ compensation (including pensions and retiree medical care) that are not overdue by more than 90 days; or (d) any
obligations under Currency Agreements, Commodity Agreements and Interest Rate Agreements; provided that such Agreements are entered into for bona fide hedging purposes of the Issuer or its Restricted Subsidiaries (as determined in good faith
by the Board of Directors or senior management of the Issuer, whether or not accounted for as a hedge in accordance with GAAP) 

  
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and, in the case of Currency Agreements or Commodity Agreements, such Currency Agreements or Commodity Agreements are related to business transactions of the Issuer or its Restricted Subsidiaries
entered into in the ordinary course of business and, in the case of Interest Rate Agreements, such Interest Rate Agreements substantially correspond in terms of notional amount, duration and interest rates, as applicable, to Indebtedness of the
Issuer or its Restricted Subsidiaries incurred without violation of this Indenture. 
 “Indenture” means this
Indenture, as amended or supplemented from time to time. 
 “Indirect Participant” means a Person who holds a
beneficial interest in a Global Note through a Participant. 
 “Initial Notes” has the meaning assigned to it
in the preamble to this Indenture. 
 “Initial Mortgaged Property” means each parcel of real property
designated as being subject to a Mortgage on Schedule C to the Purchase Agreement dated December 11, 2012, among Sawgrass Merger Sub Inc., a Delaware corporation, and the Initial Purchasers, and the improvements and fixtures located thereon.

 “Initial Purchasers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Jefferies &
Company, Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. 

“Intercreditor Agreement” means that certain Intercreditor Agreement dated as of the Issue Date by and among the Issuer,
the other grantors party thereto, the ABL Facility Collateral Agent and the Collateral Agent. 
 “Interest Rate
Agreement” means with respect to any Person any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement,
interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a beneficiary. 

“Interim Capital Transactions” means the following transactions: (a) borrowings, refinancing or refunding of
indebtedness (other than Working Capital Borrowings and other than for items purchased on open account or for a deferred purchase price in the ordinary course of business) by any Group Member and sales of debt securities of any Group Member;
(b) sales of equity interests of any Group Member; and (c) sales or other voluntary or involuntary dispositions of any assets of any Group Member other than (i) sales or other dispositions of inventory, accounts receivable and other
assets in the ordinary course of business and (ii) sales or other dispositions of assets as part of normal retirements or replacements. 
 “Investment Capital Expenditures” means capital expenditures that are neither Expansion Capital Expenditures nor Maintenance Capital Expenditures. 

“Investment Grade Rating” means a Moody’s rating of Baa3 (or the equivalent) or higher and an S&P rating of
BBB– (or the equivalent) or higher or, if either such Rating Agency ceases to rate the Notes for reasons outside of the Issuer’s control, the equivalent investment grade credit rating from any other Rating Agency. 

  
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 “Investment Grade Securities” means: 

(1) securities issued or directly and fully Guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents) and in each case with maturities not exceeding two years from the date of acquisition; 
 (2) investments in any fund that invests exclusively in investments of the type described in clause (1) which fund may also hold immaterial amounts of cash pending investment and/or distribution; and

 (3) corresponding instruments in countries other than the United States customarily utilized for high quality
investments and in each case with maturities not exceeding two years from the date of acquisition. 

“Investments” means, with respect to any Person, all direct or indirect investments by such Person in other Persons
(including Affiliates) in the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar advances to
officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as
investments on a balance sheet prepared in accordance with GAAP. 
 “Issue Date” means December 20, 2012.

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

“Maintenance Capital Expenditures” means cash expenditures (including expenditures for the addition or improvement to or
replacement of the capital assets owned by the Company Group or for the acquisition of existing, or the construction of new, capital assets) made to maintain the operating capacity or net income of the Company Group. 

“Managing Member” means the business entity with the ultimate authority to manage the business and operations of the MLP
(which may be the MLP or its successors). 
 “Marketable Securities” means, with respect to any Asset Sale, any
readily marketable equity securities that are (i) traded on The New York Stock Exchange, the American Stock Exchange or the Nasdaq National Market; and (ii) issued by a corporation having a total equity market capitalization of not less
than $250.0 million; provided that the excess of (A) the aggregate amount of securities of any one such corporation held by the Issuer and any Restricted 

  
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Subsidiary of the Issuer over (B) ten times the average daily trading volume of such securities during the 20 immediately preceding trading days shall be deemed not to be Marketable
Securities, as determined on the date of the contract relating to such Asset Sale. 
 “Member” means any holder
of Membership Interests. 
 “Membership Interests” means the capital stock of the MLP. 

“Merger Agreement” means the Agreement and Plan of Merger dated as of August 24, 2012, as amended on
November 7, 2012, among the Issuer, TPC Holdings, Inc., a Delaware corporation and Sawgrass Merger Sub Inc., a Delaware corporation. 
 “Minority Interest” means the percentage interest represented by any class of Capital Stock of a Restricted Subsidiary that is not owned by the Issuer or a Restricted Subsidiary.

 “MLP” means an entity formed to acquire, directly or indirectly, substantially all of the Equity Interests
of the Issuer, in order to undertake an initial public offering of its Capital Stock and that, immediately following consummation of such offering, will be treated as a partnership for U.S. federal income tax purposes. 

“MLP Drop-Down” means any contribution of assets by a Group Member to an MLP Subsidiary if such contribution is made to
increase the long-term operating capacity or net income of the Company Group from the long-term operating capacity or net income of the Company Group existing immediately prior to such contribution. 

“MLP Formation Transactions” means (i) the legal formation of the MLP, (ii) the acquisition, directly or
indirectly, of the Issuer by the MLP, (iii) the borrowing under Credit Facilities of an amount not to exceed the anticipated gross proceeds of a Qualified MLP IPO and the distribution of that amount to the Equity Investors immediately prior to
such Qualified MLP IPO, (iv) transactions related to a Qualifying MLP IPO and (v) transactions reasonably related thereto. 
 “MLP Subsidiary” means, with respect to any Person (a) a corporation of which more than 50% of the voting power of shares are entitled (without regard to the occurrence of any
contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more MLP Subsidiaries (as defined, but excluding subsection
(d) of this definition) of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or an MLP Subsidiary (as defined, but excluding subsection (d) of this definition) of such Person is,
at the date of determination, a general or limited partner of such partnership, but only if more than 50% of the partnership interests of such partnership (considering all of the partnership interests of the partnership as a single class) is owned,
directly or indirectly, at the date of determination, by such Person, by one or more MLP Subsidiaries (as defined, but excluding subsection (d) of this definition) of such Person, or a combination thereof, (c) any other Person (other than
a corporation or a partnership) in which such Person, one or more MLP Subsidiaries (as defined, but excluding subsection (d) of this definition) of such Person, or a combination thereof, directly or indirectly, at the date of determination, has
(i) at least a majority ownership interests or (ii) the 

  
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power to elect or direct the election of a majority of the directors or other governing body of such Person or (d) any other Person in which such Person, one or more MLP Subsidiaries of such
Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) less than a majority ownership interest or (ii) less than the power to elect or direct the election of a majority of the directors or other
governing body of such Person, provided that (A) such Person, one or more MLP Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date of the determination, has at least a 20% ownership interest in such
other Person, (B) such Person accounts for such other Person (under GAAP, as in effect on the later of the date of investment in such other Person or material expansion of the operations of such other Person) on a consolidated or equity
accounting basis, (C) such Person has directly or indirectly material negative control rights regarding such other Person including over such other Person’s ability to materially expand its operations beyond that contemplated at the date
of investment in such other Person, and (D) such other Person is obligated under its constituent documents, or as a result of a unanimous agreement of its owners, to distribute to its owners all of its available cash on at least an annual basis
(less any cash reserves that are approved by such Person). 
 “Moody’s” means Moody’s Investors
Service, Inc. and any successor to its rating agency business. 
 “Mortgage” means each mortgage, deed of trust
or deed to secure debt creating a Lien on the Mortgaged Property granted by the Issuer or any Guarantor in favor of the Collateral Agent for the benefit of the Secured Parties securing the Note Obligations. 

“Mortgaged Property” means all right, title and interest of the Issuer and the Guarantors in and to (i) the Initial
Mortgaged Property and (ii) each additional parcel of real property (and the improvements and fixtures located thereon) that becomes subject to a Mortgage pursuant to Section 4.19 hereof. 

“MTBE” means methyl tertiary butyl ether. 
 “MTBE Assets” means the assets of the Issuer and its Subsidiaries consisting of (a) two dehydrogenation units and the MTBE processing unit associated therewith, all situated on real
property in Houston, Harris County, Texas, (b) the MTBE processing units situated on real property in Port Neches, Jefferson County, Texas, (c) the related structures, fixtures, buildings, equipment, easements, pipelines, piping, vehicles,
rolling stock, trailers, MTBE product inventory and other tangible personal property reasonably related to such dehydrogenation or MTBE processing units and the manufacture, purchase, sale or transportation of MTBE and (d) the Capital Stock in
any Permitted MBTE Joint Venture, but excluding cash and Cash Equivalents and excluding any Capital Stock in an MTBE Subsidiary. 
 “MTBE Subsidiaries” means (x) Port Neches Fuels, LLC, a Delaware limited liability company and (y) any other Subsidiary of the Issuer that owns MTBE Assets, in each case so long
as such Person owns no material assets other than MTBE Assets. 
 “Net Income” means, with respect to any
Person for any period, the net income (loss) of such Person for such period, determined in accordance with GAAP and before any reduction in respect of dividends on preferred interests, excluding, however, (a) any gain or loss,

  
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together with any related provision for taxes on such gain or loss, realized in connection with (1) any Asset Sale (including, without limitation, dispositions pursuant to Sale/Leaseback
Transactions) or (2) the disposition of any securities by such Person or any of its Subsidiaries or the extinguishment of any Indebtedness of such Person or any of its Subsidiaries and (b) any extraordinary or nonrecurring gain or loss,
together with any related provision for taxes on such extraordinary or nonrecurring gain or loss. 
 “Net
Proceeds” means the aggregate cash proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any Designated
Non–cash Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by
the acquiring Person of Indebtedness relating to the disposed assets or other consideration received in any non–cash form), net of the direct costs relating to such Asset Sale and the sale of such Designated Non–cash Consideration,
including, without limitation, legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result of the Asset Sale, taxes paid or payable as a result of the Asset Sale, in each case, after taking
into account any available tax credits or deductions and any tax sharing arrangements, amounts paid in connection with the termination of Hedging Obligations repaid with Net Proceeds, and amounts required to be applied to the repayment of
Indebtedness secured by a Lien on the asset or assets that were the subject of such Asset Sale, all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures or to holders of royalty or
similar interests as a result of such Asset Sale and any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP, including without limitation, pension and post–employment benefit
liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 
 “Non–Recourse Debt” means Indebtedness: 
 (1)
as to which neither the Issuer nor any of its Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness) other than a pledge of the Equity Interests of
any Unrestricted Subsidiaries, (b) is directly or indirectly liable (as a guarantor or otherwise) other than by virtue of a pledge of the Equity Interests of any Unrestricted Subsidiaries, or (c) constitutes the lender; and 

(2) no default with respect to which (including any rights that the holders of the Indebtedness may have to take
enforcement action against an Unrestricted Subsidiary) would permit, upon notice, lapse of time or both, any holder of any other Indebtedness (other than the Notes offered hereby) of the Issuer or any of its Restricted Subsidiaries to declare a
default on such other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity. 
 “Non–U.S. Person” means a Person who is not a U.S. Person. 

  
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 “Note Guarantee” means the Guarantee by each Guarantor of the Issuer’s
obligations under this Indenture and the Notes, executed pursuant to the provisions of this Indenture. 
 “Note
Liens” means all Liens in favor of the Collateral Agent on Collateral securing the Note Obligations, and any Permitted Additional Pari Passu Obligations. 
 “Note Obligations” means the Indebtedness incurred and Obligations under this Indenture and the Notes. 
 “Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes and any Additional Notes shall be treated as a single class for all purposes under this
Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes. 
 “Notes Priority Collateral” has the meaning ascribed to the term “Notes First Priority Collateral” in the Intercreditor Agreement. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities payable under the documentation governing any Indebtedness. 
 “Offering Document” means the
offering memorandum, dated December 11, 2012, pursuant to which the Initial Notes were offered to potential purchasers. 

“Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the
Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice–President of such Person. 
 “Officer’s Certificate” means a certificate signed by an Officer of the Issuer or any other Person, as the case may be, who must be a manager or director, the principal executive
officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer (or of a Subsidiary of the Issuer acting in such capacity for the Issuer and its Subsidiaries, as determined by the Issuer) or such other
Person, that meets the requirements set forth in this Indenture and is provided to the Trustee. 
 “Opinion of
Counsel” means an opinion from legal counsel that meets the requirements of Section 14.05 hereof and is provided to the Trustee. Such counsel may be an employee of or counsel to the Issuer or any Subsidiary of the Issuer. 

“Operating Expenditures” means all Company Group cash expenditures (or the Issuer’s proportionate share of
expenditures in the case of MLP Subsidiaries that are not wholly owned), including taxes, reimbursements of expenses of the Managing Member, payments made in the ordinary course of business underlying Hedging Obligations, repayment of Working
Capital Borrowings, debt service payments and capital expenditures, subject to the following: 
 (1) repayment of
Working Capital Borrowings deducted from Operating Surplus pursuant to clause (b)(iii) of the definition of Operating Surplus shall not constitute Operating Expenditures when actually repaid; 

  
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 (2) payments (including prepayments and prepayment penalties) of principal
of and premium on indebtedness other than Working Capital Borrowings shall not constitute Operating Expenditures; 
 (3) Operating Expenditures shall not include (i) Expansion Capital Expenditures or Investment Capital Expenditures, (ii) payment of transaction expenses relating to Interim Capital Transactions,
(iii) distributions to Members or (iv) repurchases of Membership Interests of any class, other than repurchases of Membership Interests to satisfy obligations under employee benefit plans, or reimbursements of expenses of the Managing
Member for such purchases. Where capital expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the Managing Member shall determine the allocation between the amounts paid for each; and 

(4) payments made in connection with the termination of any Hedging Obligations prior to the expiration of its stipulated
settlement or termination date shall be excluded and amounts paid in connection with the initial purchase of Hedging Obligations shall be amortized over the life of the applicable Hedging Obligation. 

“Operating Surplus” means, with respect to any period, on a cumulative basis and without duplication, 

(a) the sum of (i) $25.0 million, (ii) all cash receipts of the Company Group (or the Issuer’s
proportionate share of cash receipts in the case of MLP Subsidiaries that are not wholly owned) for the period beginning on the IPO Date and ending on the last day of such period, but excluding cash receipts from Interim Capital Transactions and the
termination of Hedging Obligations (provided that cash receipts from the termination of a Hedging Obligation prior to its specified termination date shall be included in Operating Surplus in equal quarterly installments over the remaining scheduled
life of such Hedging Obligation), (iii) all cash receipts of the Company Group (or the Issuer’s proportionate share of cash receipts in the case of MLP Subsidiaries that are not wholly owned) after the end of such period but on or before
the date of determination of Operating Surplus with respect to such period resulting from Working Capital Borrowings and (iv) the amount of distributions paid on equity (including incremental incentive distributions) issued to finance all or a
portion of the construction, acquisition or improvement of a Capital Improvement and paid in respect of the period beginning on the date that the Group Member enters into a binding obligation to commence construction or improvement of, or to
acquire, such Capital Improvement and ending on the earlier to occur of (A) the date that such Capital Improvement Commences Commercial Service and (B) the date that it is abandoned or disposed of (equity issued to fund the construction
period interest payments on debt incurred (including periodic net payments under related interest swap agreements), or construction period distributions on equity issued, to finance the construction, acquisition or improvement of a Capital
Improvement shall also be deemed to be equity issued to finance the construction, acquisition or improvement of a Capital Improvement for purposes of this clause (iv)), less 

  
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 (b) the sum of (i) Operating Expenditures for the period beginning on
the IPO Date and ending on the last day of such period, (ii) the amount of cash reserves established by the Managing Member (or the Issuer’s proportionate share of cash reserves in the case of MLP Subsidiaries that are not wholly owned) to
provide funds for future Operating Expenditures, (iii) all Working Capital Borrowings not repaid within 12 months after having been incurred and (iv) any loss realized on disposition of an Investment Capital Expenditure; provided,
however, that disbursements made (including contributions to a Group Member or disbursements on behalf of a Group Member) or cash reserves established, increased or reduced after the end of such period but on or before the date of
determination of cash to be distributed with respect to such period shall be deemed to have been made, established, increased or reduced, for purposes of determining Operating Surplus, within such period if the Managing Member so determines.

 Cash receipts from an Investment Capital Expenditures shall be treated as cash receipts only to the extent they are a return
on principal, but return of principal shall not be treated as cash receipts. 
 “Pari Passu Payment Lien
Obligations” means any Additional Notes and any other Indebtedness that is permitted to have Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that
an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Security Documents in the form provided therein. 

“Pari Passu Payment Lien Priority” means, relative to specified Indebtedness and other obligations, having equal Lien
priority to the Notes and the Note Guarantees, as the case may be, on the Collateral. 
 “Participant” means,
with respect to the Depositary, a Person who has an account with the Depositary. 
 “Permitted Additional Pari Passu
Obligations” means Obligations under any additional Indebtedness in an amount not to exceed an amount such that immediately after giving effect to the incurrence of such additional Indebtedness and the receipt and application of the
proceeds therefrom, the Issuer’s Senior Secured Leverage Ratio would not exceed 4.50 to 1.00, in each case secured by the Note Liens on the same or substantially similar intercreditor arrangements as those set forth in the Intercreditor
Agreement; provided, that (i) the representative of such Permitted Additional Pari Passu Obligation executes a joinder agreement to the applicable Security Documents in the form attached thereto agreeing to be bound thereby and
(ii) the Issuer has designated such Indebtedness as “Permitted Additional Pari Passu Obligations” under the Security Agreement. 
 “Permitted Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and cash or Cash

  
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Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received must be applied in accordance with
Section 4.08 hereof. 
 “Permitted Business” means the businesses of the Issuer and its Subsidiaries
engaged in on the Issue Date and any other activities that are similar, ancillary or reasonably related to, or a reasonable extension, expansion or development of, such businesses or ancillary thereto. 

“Permitted Employee Stock Purchase Loans” means loans, in an aggregate amount outstanding at any time not to exceed
$25.0 million, whether made by the Issuer or any third party (other than any Affiliate of the Issuer), to employees of the Issuer and its Subsidiaries who become participants in the Issuer’s stock purchase program to enable such employees to
purchase Equity Interests in the Issuer or any of its parent entities. 
 “Permitted Holders” means
(i) the Equity Investors and Related Parties and (ii) any Permitted Parent. Any Person or group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance
with the requirements of this Indenture will thereafter, together with its Affiliates, constitute an additional Permitted Holder. 
 “Permitted Investments” means: 
 (1) any
Investment in the Issuer or in a Restricted Subsidiary of the Issuer; 
 (2) any Investment in cash, Cash
Equivalents, Marketable Securities or Investment Grade Securities; 
 (3) any Investment by the Issuer or any
Restricted Subsidiary of the Issuer in a Person, if as a result of such Investment: 
 (a) such Person becomes a
Restricted Subsidiary of the Issuer; or 
 (b) such Person, in one transaction or a series of related
transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; 

and, in each case, any Investment held by any such Person; 

(4) any Investment made as a result of the receipt of non–cash consideration from an Asset Sale that was made
pursuant to and in compliance with Section 4.08 hereof; 
 (5) any acquisition of assets or Capital Stock
solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Issuer or a direct or indirect parent of the Issuer; 

  
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 (6) any Investments received (i) in compromise or resolution of
(A) obligations of trade creditors or customers that were incurred in the ordinary course of business of the Issuer or any of its Restricted Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the
bankruptcy or insolvency of any trade creditor or customer; or (B) litigation, arbitration or other disputes; or (ii) as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment
or other transfer of title with respect to any secured Investment in default; 
 (7) Investments represented by
Hedging Obligations; 
 (8) loans or advances to officers, directors and employees made in the ordinary course of
business or consistent with the past practice of the Issuer or any Restricted Subsidiary of the Issuer and Permitted Employee Stock Purchase Loans or Guarantees thereof; 

(9) repurchases of the Notes; 
 (10) Investments in Permitted Businesses, joint ventures or Unrestricted Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause
(10) that are at that time outstanding, not to exceed the greater of (x) $40.0 million and (y) 5.0% of Total Assets; provided, however, that if any Investment pursuant to this clause (10) is made in a Person that is
not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause
(1) above and shall cease to have been made pursuant to this clause (10) for so long as such Person continues to be a Restricted Subsidiary of the Issuer; 

(11) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; provided, however,
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest; 
 (12) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of Section 4.09(b) hereof (except for transactions described in
clauses (6), (8), (10) and (12) of Section 4.09(b)); 
 (13) (A) Guarantees issued in accordance
with Section 4.07 and Section 4.14 hereof and (B) Guarantees of performance or other obligations (other than Indebtedness) arising in the ordinary course of business or consistent with past practice; 

(14) any Investment existing on the Issue Date and any Investment that replaces, refinances or refunds an existing
Investment; provided, that the new Investment is in an amount that does not exceed the amount replaced, refinanced or refunded, and is made in the same Person as the Investment replaced, refinanced or refunded; 

  
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 (15) Investments consisting of purchases and acquisitions of parts,
buildings, inventory, supplies, materials and equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; 

(16) additional Investments by the Issuer or any Restricted Subsidiary having an aggregate Fair Market Value (measured on
the date each such Investment was made and without giving effect to subsequent changes in value), taken together with all other Investments made pursuant to this clause (16) that are at the time outstanding not to exceed the greater of
(x) $40.0 million and (y) 5.0% of Total Assets; provided, however, that if any Investment pursuant to this clause (16) is made in a Person that is not a Restricted Subsidiary of the Issuer at the date of the making of
such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause
(16) for so long as such Person continues to be a Restricted Subsidiary of the Issuer; 
 (17) [RESERVED];

 (18) any Investment made in connection with MLP Formation Transactions; 

(19) Investments in any Person to the extent such Investments consist of prepaid expenses, negotiable instruments held for
collection and lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Issuer or any of its Restricted Subsidiaries; and 

(20) pledges or deposits made in the ordinary course of business. 

provided, however, that with respect to any Investment, the Issuer may, in its sole discretion, allocate all or any portion
of any Investment to one or more of the above clauses (1) through (20) so that the entire Investment would be a Permitted Investment. 
 “Permitted Liens” means: 
 (1) Liens securing
Indebtedness and other Obligations under Credit Facilities incurred pursuant to Section 4.07(b)(i) hereof and/or securing Hedging Obligations related thereto; provided that so long as the Credit Agreement is outstanding, such Liens
are subject to the provisions of the Intercreditor Agreement (including with respect to the relative priority of the ABL Priority Collateral and Notes Priority Collateral); 

(2) Liens in favor of the Issuer or any of its Restricted Subsidiaries; 

(3) Liens on property of a Person existing at the time such Person is merged with or into or consolidated with the Issuer
or any Subsidiary of the Issuer; provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the Issuer
or the Subsidiary; 

  
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 (4) Liens on property (including Capital Stock) existing at the time of
acquisition of the property by the Issuer or any Subsidiary of the Issuer; provided that such Liens were in existence prior to, such acquisition, and not incurred in contemplation of, such acquisition; 

(5) Liens or deposits to secure the performance of statutory or regulatory obligations, or surety, appeal, indemnity or
performance bonds, warranty and contractual requirements or other obligations of a like nature incurred in the ordinary course of business and Liens over cash deposits in connection with an acquisition, lease, disposition or investment; 

(6) Liens securing reimbursement obligations with respect to commercial letters of credit which encumber documents and
other assets relating to such letters of credit and products and proceeds thereof and any cash cover relating to a letter of credit or bank guarantee; 
 (7) Liens to secure Indebtedness (including Capital Lease Obligations) permitted to be incurred pursuant to Section 4.07(b)(4) hereof covering only the assets acquired with or financed by such
Indebtedness; provided that such Lien (i) extends only to the assets and/or Capital Stock, the acquisition, lease, design, construction, installation, repair, replacement or improvement of which is financed thereby and any proceeds or
products thereof, accessions thereto, upgrades thereof and improvements thereto or (ii) does not extend to any assets or property that constitute Collateral; 

(8) Liens securing Indebtedness permitted to be incurred pursuant to Section 4.07(b)(15) hereof; 

(9) Liens existing on the Issue Date; 

(10) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being
contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor; 

(11) Liens incurred or deposits made in the ordinary course of business to secure payment of workers’ compensation or
to participate in any fund in connection with workmen’s compensation, unemployment insurance, old–age pensions or other social security programs; 
 (12) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s, lessor’s, suppliers, banks, repairmen’s and mechanics’ Liens, and Liens of landlords securing
obligations to pay lease payments that are not yet due and payable or in default, in each case, incurred in the ordinary course of business; 
 (13) leases or subleases granted to others that do not materially interfere with the ordinary conduct of business of the Issuer or any of its Restricted Subsidiaries; 

  
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 (14) (A) survey exceptions, easements, rights of way, zoning and similar
restrictions, reservations or encumbrances in respect of real property or title defects that were not incurred in connection with Indebtedness and that do not in the aggregate materially adversely affect the value of said properties (as such
properties are used by the Issuer or its Subsidiaries) or materially impair their use in the operation of the business of the Issuer and its Subsidiaries and (B) access agreements, easements, leases, licenses, use agreements, utility
agreements, service agreements, and other like encumbrances granted by the Issuer or a Restricted Subsidiary of the Issuer to an MTBE Subsidiary, Permitted MTBE Joint Venture or any other third party in connection with the disposition of the MTBE
Assets to, or the use or ownership of the MTBE Assets by, such MTBE Subsidiary, Permitted MTBE Joint Venture or third party so long as such encumbrances do not in the aggregate materially adversely affect the value of said properties (as such
properties are used by the Issuer or its Subsidiaries) or materially impair their use in the operation of the business of the Issuer and its Subsidiaries; 
 (15) Liens created for the benefit of (or to secure) the Notes and the Note Guarantees; 
 (16) Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred under this Indenture; provided, however, that: 

(a) the new Lien shall be limited to all or part of the same property and assets that secured or, under the written
agreements pursuant to which the original Lien arose, could secure the original Lien (plus improvements and accessions to, such property or proceeds or distributions thereof); and 

(b) the Indebtedness secured by the new Lien is not increased to any amount greater than the sum of (x) the
outstanding principal amount, or, if greater, committed amount, of the Permitted Refinancing Indebtedness and (y) an amount necessary to pay any fees and expenses, including premiums, related to such renewal, refunding, refinancing,
replacement, defeasance or discharge; 
 (17) Liens arising from precautionary Uniform Commercial Code financing
statement filings regarding operating leases entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of business; 
 (18) judgment Liens not giving rise to an Event of Default so long as any appropriate legal proceedings that may have been duly initiated for the review of such judgment shall not have been finally
terminated or the period within which such legal proceedings may be initiated shall not have expired; 
 (19)
Liens securing Indebtedness or other obligations of the Issuer or any Subsidiary of the Issuer with respect to obligations that do not exceed the greater of (x) $50.0 million and (y) 5.0% of Total Assets at any one time outstanding;

 (20) Liens on accounts receivable and related assets of the type specified in the definition of
“Receivables Financing” incurred in connection with a Qualified Receivables Financing; 

  
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 (21) licenses of intellectual property in the ordinary course of business;

 (22) Liens on Capital Stock of an Unrestricted Subsidiary that secure Indebtedness or other obligations of
such Unrestricted Subsidiary; 
 (23) leases and subleases of real property which do not materially interfere
with the ordinary conduct of the business of the Issuer and its Restricted Subsidiaries; 
 (24) Liens to secure
a defeasance trust; 
 (25) Liens on equipment of the Issuer or any Restricted Subsidiary of the Issuer granted
in the ordinary course of business to clients of which such equipment is located; 
 (26) Liens securing
insurance premium financing arrangements, provided that such Lien is limited to the applicable insurance contracts; 
 (27) Liens securing the aggregate amount of Indebtedness (including Acquired Debt) incurred in connection with (or at any time following the consummation of) an Asset Acquisition made in accordance with
this Indenture equal to, at the time of incurrence, the net increase in inventory, accounts receivable and net property, reserves, plant and equipment attributable to such Asset Acquisition from the amounts reflected on the Issuer’s historical
consolidated balance sheet as of the end of the full fiscal quarter ending on or prior to the date of such Asset Acquisition, calculated after giving effect on a pro forma basis to such Asset Acquisition (which amount may, but need not, be
incurred in whole or in part under the Credit Agreement) less the amount of Indebtedness incurred in connection with such Asset Acquisition secured by Liens pursuant to clauses (4) or (7) above; 

(28) Liens arising under retention of title, hire purchase or conditional sale arrangements arising under provisions in a
supplier’s standard conditions of supply in respect of goods or services supplied to the Issuer or any Restricted Subsidiary in the ordinary course of business and on arm’s length terms; 

(29) Liens arising by way of set–off or pledge (in favor of the account holding bank) arising by operation of law or
pursuant to standard banking terms or conditions, provided that the relevant bank account has not been set up nor has the relevant credit balance arisen in order to implement a secured financing; 

(30) Liens securing Indebtedness permitted to be incurred pursuant to Sections 4.07(b)(3) and 4.07(b)(17); provided
that in the case of Section 4.07(b)(17), such Lien may not extend to any assets other than the assets owned by the Restricted Subsidiaries incurring such Indebtedness; 

(31) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity
trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
 (32) Liens securing Hedging Obligations; 

  
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 (33) any (a) interest or title of a lessor or sublessor under any
lease; (b) restriction or encumbrance that the interest or title of such lessor or sublessor may be subject to (including, without limitation, ground leases or other prior leases of the demised premises, mortgages, mechanics’ Liens, tax
Liens and easements); (c) subordination of the interest of the lessee or sublessee under such lease to any restrictions or encumbrance referred to in the preceding subclause (b) or (d) Liens over rental deposits with a lessor pursuant
to a property lease entered into in the ordinary course of business; 
 (34) Liens incurred under or in
connection with lease and Sale/Leaseback Transactions and novations and any refinancings thereof (and Liens securing obligations under lease transaction documents relating thereto), including, without limitation, Liens over the assets which are the
subject of such lease, sale and leaseback, novations, refinancings, assets and contract rights related thereto (including, without limitation, the right to receive rental rebates or deferred sale payments), sub–lease rights, insurances relating
thereto and rental deposits; 
 (35) Liens to secure Indebtedness and any related Guarantees on assets
constituting Collateral that are junior in priority to the Liens on the Collateral securing the Notes; 
 (36)
Liens on the Collateral granted under the Security Documents in favor of the ABL Facility Collateral Agent and the Collateral Agent to secure the Notes, the Note Guarantees and any Permitted Additional Pari Passu Obligations; and 

(37) Liens arising under this Indenture in favor of the Trustee for its own benefit and similar Liens in favor of other
trustees, agents and representatives arising under instruments governing Indebtedness permitted to be incurred under this Indenture, provided, however, that such Liens are solely for the benefit of the trustees, agents or
representatives in their capacities as such and not for the benefit of the holders of such Indebtedness. 
 “Permitted
MTBE Joint Venture” means a Person (together with its Subsidiaries, if any) organized by the Issuer or an MTBE Subsidiary and one or more third parties for the purpose, among other things, of utilizing the MTBE Assets regardless of whether
such Person is a joint venture or a minority-owned Person; provided that such Person shall not be a Subsidiary. 

“Permitted Parent” means any direct or indirect parent of the Issuer formed not in connection with, or in contemplation
of, a transaction that, assuming such parent was not so formed, after giving effect thereto would constitute a Change of Control and any direct or indirect parent of the Issuer formed in connection with an underwritten public Equity Offering.

 “Permitted Payments to Parent” means, without duplication as to amounts: 

(1) payments to any parent companies of the Issuer in amounts equal to the amounts required for any direct payment of the
Issuer to pay fees and expenses (including franchise or similar taxes) required to maintain its corporate existence, customary salary, bonus and other benefits payable to officers and employees of any direct parent of the Issuer and general
corporate overhead expenses of any direct parent of the Issuer to the extent such fees and expenses are attributable to the ownership or operation of the Issuer and its Subsidiaries; 

  
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 (2) for so long as the Issuer is a member of a group filing a consolidated
or combined tax return with such parent companies, payments to such parent companies in respect of an allocable portion of the tax liabilities of such group that is attributable to the Issuer and its Subsidiaries (“Tax Payments”).
The Tax Payments shall not exceed the lesser of (i) the amount of the relevant tax (including any penalties and interest) that the Issuer would owe if the Issuer were filing a separate tax return (or a separate consolidated or combined return
with its Subsidiaries that are members of the consolidated or combined group), taking into account any carryovers and carrybacks of tax attributes (such as net operating losses) of the Issuer and such Subsidiaries from other taxable years and
(ii) the net amount of the relevant tax that such parent companies actually owe to the appropriate taxing authority. Any Tax Payments received from the Issuer shall be paid over to the appropriate taxing authority within 30 days of such parent
companies’ receipt of such Tax Payments or refunded to the Issuer; and 
 (3) dividends or distributions
paid to such parent companies, if applicable, in amounts equal to amounts required for such parent companies, if applicable, to pay interest and/or principal on Indebtedness the proceeds of which have been contributed to the Issuer or any of its
Restricted Subsidiaries and that has been Guaranteed by, or is otherwise considered Indebtedness of, the Issuer incurred in accordance with Section 4.07 hereof. 
 “Permitted Refinancing Indebtedness” means any Indebtedness of the Issuer or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to renew,
refund, refinance, replace, defease or discharge other Indebtedness of the Issuer or any of the Issuer’s Restricted Subsidiaries (other than intercompany Indebtedness); provided that: 

(1) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the
principal amount (or accreted value, if applicable) of the Indebtedness renewed, refunded, refinanced, replaced, defeased or discharged (plus any premium required to be paid on the Indebtedness being so renewed, refunded, replaced, defeased or
discharged, plus the amount of all fees and expenses incurred in connection therewith); 
 (2) such Permitted
Refinancing Indebtedness has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of, the Indebtedness being
renewed, refunded, refinanced, replaced, defeased or discharged; provided that this clause (2) shall not apply to debt under Credit Facilities; 
 (3) if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged is subordinated in right of payment to the Notes, such Permitted Refinancing Indebtedness has a final maturity
date later than the final maturity date of, and is subordinated in right of payment to, the Notes on terms at least as favorable to the Holders as those contained in the documentation governing the Indebtedness being renewed, refunded, refinanced,
replaced, defeased or discharged; and 

  
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 (4) such Refinancing Indebtedness shall not include Indebtedness of the
Issuer or a Restricted Subsidiary of the Issuer that refinances Indebtedness of an Unrestricted Subsidiary. 

“Person” means any individual, corporation, partnership, joint venture, association, joint–stock company, trust,
unincorporated organization, limited liability company or government or other entity; provided that when Person is used to refer to the Issuer, it shall refer (i) prior to a Qualified MLP IPO, to TPC Group Inc. and (ii) after a
Qualified MLP IPO, to the MLP. 
 “Private Placement Legend” means the legend set forth in
Section 2.06(f)(1) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “Purchase Money Note” means a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable, from the Issuer or any Subsidiary of the Issuer to a
Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the purchase price that is not paid by cash or a contribution of equity. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified MLP IPO” means an initial offer and sale of common units of the MLP in an underwritten public offering for
cash pursuant to a registration statement that has been declared effective by the SEC pursuant to the Securities Act (other than a registration statement on Form S-4 or Form S-8 or otherwise relating to Equity Interests of the MLP issuable under any
employee benefit plan); provided, however, that (i) immediately after such offering, the MLP is treated as a partnership for U.S. federal income tax purposes and qualifies for the exception contained in Section 7704(c) of the
Code for partnerships with “qualifying income” (as defined in Section 7704(d) of the Code) and (ii) the Issuer and/or selling shareholders receive aggregate gross proceeds (including in any combination of primary and secondary
offerings) of at least $75.0 million from such sale(s). 
 “Qualified Receivables Financing” means any
Receivables Financing of a Receivables Subsidiary that meets the following conditions: 
 (1) the Board of
Directors of the Issuer will have determined in good faith that such Qualified Receivables Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer
and the Receivables Subsidiary, 
 (2) all sales of accounts receivable and related assets to the Receivables
Subsidiary are made at Fair Market Value (as determined in good faith by the Issuer), and 

  
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 (3) the financing terms, covenants, termination events and other provisions
thereof will be market terms (as determined in good faith by the Issuer) and may include Standard Securitization Undertakings. 

The grant of a security interest in any accounts receivable of the Issuer or any of its Restricted Subsidiaries (other than a Receivables
Subsidiary) to secure a Credit Facility will not be deemed a Qualified Receivables Financing. For purposes of this Indenture, a receivables facility whether now in existence or arising in the future (and any replacement thereof with substantially
similar terms in the aggregate) will be deemed to be a Qualified Receivables Financing that is not recourse to the Issuer (except for Standard Securitization Undertakings). 
 “Rating Agency” means each of S&P and Moody’s, or if S&P or Moody’s or both shall not make a rating on the Notes publicly available, a nationally recognized statistical
rating organization or organizations, within the meaning of Rule 15c3–1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer as a replacement agency or agencies for S&P or Moody’s, or both, as the case may be. 

“Receivables Financing” means any transaction or series of transactions that may be entered into by the Issuer or any of
its Subsidiaries pursuant to which the Issuer or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary (in the case of a transfer by the Issuer or any of its Subsidiaries), and (b) any other Person
(in the case of a transfer by a Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of the Issuer or any of its Subsidiaries, and any assets related thereto including,
without limitation, all collateral securing such accounts receivable, all contracts and all Guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily
transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Issuer or any such Subsidiary in
connection with such accounts receivable. 
 “Receivables Repurchase Obligation” means any obligation of a
seller of receivables in a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to
any asserted defense, dispute, off–set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 

“Receivables Subsidiary” means a Wholly–Owned Restricted Subsidiary of the Issuer (or another Person formed for the
purposes of engaging in a Qualified Receivables Financing with the Issuer and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which engages in no activities other than in connection with the
financing of accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and
which is designated by the Board of Directors of the Issuer (as provided below) as a Receivables Subsidiary and: 

(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is Guaranteed by
the Issuer or any other Subsidiary of the Issuer (excluding Guarantees of Obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Issuer or
any other Subsidiary of the Issuer in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of the Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or
otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, 

  
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 (2) with which neither the Issuer nor any other Subsidiary of the Issuer has
any material contract, agreement, arrangement or understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the time from Persons that are not
Affiliates of the Issuer, and 
 (3) to which neither the Issuer nor any other Subsidiary of the Issuer has any
obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by filing
with the Trustee a certified copy of the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing conditions. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Global Note substantially in the form of Exhibit A2 hereto deposited with or behalf
of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance of Regulation S. 

“Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful in a Permitted Business;
provided that any assets received by the Issuer or a Restricted Subsidiary of the Issuer in exchange for assets transferred by the Issuer or a Restricted Subsidiary of the Issuer shall not be deemed to be Related Business Assets if they
consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary of the Issuer. 
 “Related Party” means: 
 (1) any controlling stockholder,
partner, member, 50% (or more) owned Subsidiary, or immediate family member (in the case of an individual) of any Equity Investor; 
 (2) any trust, corporation, partnership or other entity, the beneficiaries, stockholders, partners, owners or Persons beneficially holding an 50% or more controlling interest of which consist of any one
or more Equity Investors and/or such other Persons referred to in the immediately preceding clause; or 

  
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 (3) any Person with whom an Equity Investor or a Related Party (under clause (1) or
(2) of this definition of Related Party) may be deemed as part of a “group” within the meaning of Section 13(d)(3) of the Exchange Act. 
 “Reporting Failure” means the failure of the Issuer to hold conference calls with respect to, or make available, post or otherwise deliver to the Trustee, within the time periods
specified in Section 4.03 (after giving effect to any grace period specified under Rule 12b–25 under the Exchange Act), the periodic reports, information, documents or other reports which the Issuer or a parent Guarantor may be required to
make available, post or otherwise deliver pursuant to such provision. 
 “Responsible Officer” when used with
respect to the Trustee, means any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, trust officer or any other officer of the Trustee customarily performing functions similar to
those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other person to whom such matter is referred because of such person’s knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Representative” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, in its capacity as representative of
the several Initial Purchasers. 
 “Restricted Definitive Note” means a Definitive Note bearing the Private
Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

 “Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Period” means the 40–day distribution compliance period as defined in Regulation S, as notified to the
Trustee by the Issuer in writing. 
 “Restricted Subsidiary” of a Person means any Subsidiary of the referent
Person that is not an Unrestricted Subsidiary. 
 “Rule 144” means Rule 144 promulgated under the Securities
Act. 
 “Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

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

  
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 “Sale/Leaseback Transaction” means an arrangement relating to property now
owned or hereafter acquired by the Issuer or a Restricted Subsidiary of the Issuer whereby the Issuer or a Restricted Subsidiary of the Issuer transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such
Person, other than leases between the Issuer and a Restricted Subsidiary of the Issuer or between Restricted Subsidiaries of the Issuer. 
 “SEC” means the Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness secured by a Lien. 

“Secured Parties” means (i) the Holders of the Notes, (ii) the Trustee, (iii) the Collateral Agent and
(iv) any successors, indorsees, transferees and assigns of each of the foregoing. 
 “Securities Act”
means the Securities Act of 1933, as amended. 
 “Security Agreement” means the security agreement dated as of
the Issue Date among the Collateral Agent, the Issuer and the Guarantors granting, among other things, a second-priority Lien on the ABL Priority Collateral and a first-priority Lien on the Notes Priority Collateral, in each case, subject to
Permitted Liens, and in each case in favor of the Collateral Agent for its benefit and for the benefit of the Trustee and the Holders of the Notes and the holders of any Permitted Additional Pari Passu Obligations, as amended, modified, restated,
supplemented or replaced from time to time in accordance with its terms. 
 “Security Documents” means the
Security Agreement, any mortgages, the Intercreditor Agreement and all of the security agreements, pledges, collateral assignments, mortgages, deeds of trust, trust deeds or other instruments evidencing or creating or purporting to create any
security interests in favor of the Collateral Agent for its benefit and for the benefit of the Trustee and the Holders of the Notes and the holders of any Permitted Additional Pari Passu Obligations, in all or any portion of the Collateral, in each
case as amended, modified, restated, supplemented or replaced from time to time. 
 “Senior Secured Leverage
Ratio” means, as of any date of determination (the “Senior Secured Leverage Ratio Calculation Date”), the ratio of (a) the Consolidated Total Indebtedness of the Issuer and its Restricted Subsidiaries as of the end of
the most recent fiscal quarter for which internal financial statements are available that is secured by Liens, less an amount equal to the amount of any cash and Cash Equivalents of the Issuer and its Restricted Subsidiaries as of such date, to
(b) Consolidated Adjusted EBITDA of the Issuer and its Restricted Subsidiaries for the most recently ended four fiscal quarters ending immediately prior to such date for which internal financial statements are available. 

In the event that the Issuer or any Restricted Subsidiary of the Issuer incurs, assumes, Guarantees, redeems, repays, retires or
extinguishes any Indebtedness (other than Indebtedness incurred or repaid under any revolving credit facility unless such Indebtedness has been permanently repaid and has not been replaced) or issues or redeems Disqualified Stock or preferred stock
subsequent to the commencement of the period for which the Senior Secured Leverage Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Senior Secured Leverage Ratio is made, then the Senior
Secured Leverage 

  
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Ratio shall be calculated giving pro forma effect to such incurrence, assumption, Guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of
Disqualified Stock or preferred stock, as if the same had occurred immediately prior to the end of such most recent fiscal quarter end. 
 For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with
GAAP) that have been made by the Issuer or any of its Restricted Subsidiaries during the four–quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Senior Secured Leverage Ratio
Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (and the change in Consolidated Adjusted EBITDA resulting
therefrom) had occurred on the first day of the four–quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary of the Issuer or was merged with or into the Issuer or any of its
Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation or discontinued operation that would have required adjustment pursuant to this definition, then
the Senior Secured Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, amalgamation, consolidation or discontinued operation had occurred at the beginning of the
applicable four–quarter period. For purposes of this definition, whenever pro forma effect is to be given to an Investment, acquisition, disposition, merger or consolidation, the pro forma calculations shall be made in good faith by a
responsible financial or accounting officer of the Issuer (and may include, for the avoidance of doubt, cost savings, synergies and operating expense reductions resulting from such Investment, acquisition, merger, amalgamation or consolidation which
is being given pro forma effect that have been or are expected to be realized). 
 “Significant Subsidiary”
means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1–02 of Regulation S–X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the Issue Date. 

“Standard Securitization Undertakings” means representations, warranties, covenants, indemnities and Guarantees of
performance entered into by the Issuer or any Subsidiary of the Issuer which the Issuer has determined in good faith to be customary in a Receivables Financing including, without limitation, those relating to the servicing of the assets of a
Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 
 “Stated Maturity” means, with respect to any installment of principal on any series of Indebtedness, the date on which the final payment of principal was scheduled to be paid in the
documentation governing such Indebtedness as of the Issue Date, and will not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally scheduled for the payment thereof. 

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

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

(2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a
Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 “Successor ABL Facility Collateral Agent” means, in the event that the Credit Agreement is no longer outstanding, the “ABL Facility Collateral Agent” (or other collateral agent,
representative or trustee) designated pursuant to the terms of the documentation relating to the ABL Obligations. 

“Total Assets” means the total consolidated assets of the Issuer and its Restricted Subsidiaries, as shown on the most
recent balance sheet of the Issuer 
 “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C.
§§ 77aaa–77bbbb). 
 “Total Non-Guarantor Assets” means the total assets of the Restricted
Subsidiaries of the Issuer that are not Guarantors, as shown on the most recent balance sheet of the Issuer. 

“Transactions” has the definition set forth in the Offering Document. 

“Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption date of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H. 15(519) that has become publicly available at least two Business Days prior to the redemption date (or, if such
Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to December 15, 2016; provided, however, that if the period from the
redemption date to December 15, 2016, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Monies” means all cash and Cash Equivalents received by the Paying Agent or the Collateral Agent: 

(1) upon the release of Collateral from the Lien of this Indenture or the Security Documents, including all Net Proceeds
and all moneys received in respect of the principal of all purchase money, governmental and other obligations; 

(2) pursuant to the Security Documents; 

  
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 (3) as proceeds of any sale or other disposition of all or any part of the
Collateral by or on behalf of the Trustee or the Collateral Agent or any collection, recovery, receipt, appropriation or other realization of or from all or any part of the Collateral, in each case, pursuant to the exercise or remedies under this
Indenture or any of the Security Documents or otherwise; or 
 (4) for application as provided in the relevant
provisions of this Indenture or any Security Document or which disposition if not otherwise specifically provided for in this Indenture or in any Security Document; 
 provided, however, that Trust Monies shall in no event include any property deposited with the paying agent for any redemption, legal defeasance or covenant defeasance of the Notes, for the
satisfaction and discharge of this Indenture or to pay the purchase price of the Notes pursuant to a Change of Control Offer or an Asset Sale Offer in accordance with the terms of this Indenture and shall not include any cash received or applicable
by the paying agent in payment of the Trustee’s, Collateral Agent’s or paying agent’s fees and expenses (or, prior to the discharge of ABL Obligations, any ABL Priority Collateral). 

“Trustee” means Wells Fargo Bank, National Association until a successor replaces it in accordance with the applicable
provisions of this Indenture and thereafter means the successor serving hereunder. 
 “U.S. Dollar Equivalent”
means with respect to any monetary amount in a currency other than U.S. dollars, at any time for determination thereof, the amount of U.S. dollars obtained by converting such foreign currency involved in such computation into U.S. dollars at the
spot rate for the purchase of U.S. dollars with the applicable foreign currency as published in The Wall Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two Business Days prior to
such determination. 
 “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the
Securities Act. 
 “Unrestricted Definitive Note” means a Definitive Note that does not bear and is not
required to bear the Private Placement Legend. 
 “Unrestricted Global Note” means a Global Note that does not
bear and is not required to bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the
Board of Directors of the Issuer in the manner provided below; and 
 (2) any Subsidiary of an Unrestricted
Subsidiary. 
 The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or
newly formed Subsidiary of the Issuer) to be an Unrestricted 

  
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Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the
Issuer that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter incur Non–recourse
Debt (other than Guarantees of performance of the Unrestricted Subsidiary in the ordinary course of business, excluding Guarantees of Indebtedness for borrowed money); provided further, however, that either: 

 

	 	(a)	the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or 

 

	 	(b)	if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under Section 4.05 hereof. 

The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Issuer;
provided, however, that immediately after giving effect to such designation: 
 (x) (1) the Issuer could
incur $1.00 of additional Indebtedness pursuant to Section 4.07(a) hereof or (2) the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio for the Issuer and its
Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and 
 (y) no Event of Default shall have occurred and be continuing. 
 Any such
designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the resolution of the applicable Board of Directors giving effect to such designation and an Officer’s
Certificate certifying that such designation complied with the foregoing provisions. 
 “Voting Stock” of any
specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: 

(1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund,
serial maturity or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest one–twelfth) that will elapse between such date and the
making of such payment; by 
 (2) the then outstanding principal amount of such Indebtedness. 

“Wholly–Owned Restricted Subsidiary” of any specified Person means a Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares) will at the time be owned by such Person or by one or more Wholly–Owned Restricted Subsidiaries of such Person. 

  
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 “Working Capital Borrowings” means borrowings, used solely for working
capital purposes, including the purchase of inventory and other current assets or to fund current liabilities, and specifically excluding any borrowings for the purchase of property, plant and equipment, acquisitions or capital improvements, or to
pay distributions to Members, made in the ordinary course of business pursuant to a credit facility, commercial paper facility or similar financing arrangement; provided that when incurred it is the intent of the borrower to repay such
borrowings within 12 months from sources other than additional Working Capital Borrowings. 
 Section 1.02 Other Definitions.

  

			
	 Term
	  	 Defined

in Section

	 “Affiliate Transaction”
	  	4.09
	 “After–Acquired Real Property”
	  	4.18
	 “Asset Sale Offer”
	  	4.08
	 “Authentication Order”
	  	2.02
	 “Change of Control Offer”
	  	4.12
	 “Change of Control Payment”
	  	4.12
	 “Change of Control Payment Date”
	  	4.12
	 “Covenant Defeasance”
	  	8.03
	 “DTC”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.08
	 “Fall–Away Period”
	  	4.16
	 “Flood Insurance Laws”
	  	4.19
	 “Incremental Funds”
	  	4.05(b)
	 “incur”
	  	4.07(a)
	 “IPO Date”
	  	4.05(b)
	 “Issuer”
	  	Preamble
	 “Legal Defeasance”
	  	8.02
	 “Mortgage Policies”
	  	4.19
	 “Offer Period”
	  	4.08
	 “Paying Agent”
	  	2.03
	 “Payment Default”
	  	6.01
	 “Permitted Debt”
	  	4.07(b)
	 “Prohibition”
	  	10.01
	 “Registrar”
	  	2.03
	 “Released Trust Monies”
	  	13.03
	 “Replacement Assets”
	  	13.03
	 “Restricted Payments”
	  	4.05
	 “Title Company”
	  	4.19
	 “Trailing Four Quarters”
	  	4.05(b)

  
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 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 Section 1.04 Rules of Construction. 
 Unless the context otherwise requires: 
 (i) a term has the meaning
assigned to it; 
 (ii) an accounting term not otherwise defined has the meaning assigned to it in accordance
with GAAP; 
 (iii) “or” is not exclusive; 

(iv) words in the singular include the plural, and in the plural include the singular; 

(v) “will” shall be interpreted to express a command; 

(vi) provisions apply to successive events and transactions; and 

(vii) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the SEC from time to time. 
 ARTICLE 2 

THE NOTES 
 Section 2.01
Form and Dating. 
 (a) General. The Notes and the Trustee’s certificate of authentication will be
substantially in the form of Exhibits A1 and A2 hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The Notes shall be in denominations
of $2,000 and integral multiples of $1,000 in excess of $2,000. 
 The terms and provisions contained in the Notes will
constitute, and are hereby expressly made, a part of this Indenture and the Issuer, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to
the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Global Notes. Notes issued in global form will be substantially in the form of Exhibits A1 or A2 hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Notes issued in definitive form 

  
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will be substantially in the form of Exhibit A1 hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached
thereto). Each Global Note will represent such of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or
decrease in the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the written direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.06 hereof. 
 (c) None of the Trustee or any Agent shall have any responsibility or obligation to any beneficial
owner of an interest in a Global Note, a member of, or a Participant or Indirect Participant in, the Depositary or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Participant or Indirect
Participant in, or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any Participant, Indirect Participant, member, beneficial owner or other Person (other than the Depositary) of any notice
(including any notice of redemption) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to
Holders in respect of the Notes shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be
exercised only through the Depositary subject to the Applicable Procedures of the Depositary. The Trustee and each Agent may conclusively rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its
members, Participants, Indirect Participants and any beneficial owners. Neither the Trustee nor any Agent shall have any responsibility or liability for actions take or not taken by the Depositary. 

Section 2.02 Execution and Authentication. 
 (a) At least one Officer must sign the Notes for the Issuer by manual or facsimile signature. 
 (b) If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be valid. 

(c) A Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence that
the Note has been authenticated under this Indenture. 
 (d) The Trustee will, upon receipt of a written order of the Issuer
signed by two Officers of the Issuer (an “Authentication Order”), authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes
outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof. 

  
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 (e) The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to
deal with Holders or an Affiliate of the Issuer. 
 Section 2.03 Registrar and Paying Agent. 

(a) The Issuer will maintain a register of Notes at its registered office in which the Holders of the Notes will be registered.

 (b) The Issuer will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Holders and the Notes and of their transfer and exchange. The Issuer may
appoint one or more co–registrars and one or more additional Paying Agents. The term “Registrar” includes any co–registrar and the term “Paying Agent” includes any additional paying agent. The Issuer may change any
Paying Agent or Registrar without notice to any Holder. The Issuer will notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. The Issuer or any of the Issuer’s Subsidiaries may act as Paying Agent or
Registrar. 
 (c) The Issuer initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Notes. 
 (d) The Issuer initially appoints the Trustee to act as the Registrar and Paying Agent with
respect to the Global Notes. 
 Section 2.04 Paying Agent to Hold Money in Trust. 

The Issuer will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium or interest on the Notes, and will notify the Trustee in writing of any default by the Issuer in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent
(if other than the Issuer or a Subsidiary of the Issuer) will have no further liability for the money. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the
Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee will serve as Paying Agent for the Notes. 

  
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 Section 2.05 Holder Lists. 

The Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of all Holders. If the Trustee is not the Registrar, the Issuer will furnish to the Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form
and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 
 Section 2.06 Transfer and
Exchange. 
 (a) Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the
Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All
Global Notes will be exchanged by the Issuer for Definitive Notes if: 
 (1) the Issuer delivers to the Trustee
written notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Issuer
within 120 days after the date of such notice from the Depositary; 
 (2) the Issuer, at its option and subject
to the procedures of the Depositary, determine that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes and deliver a written notice to such effect to the Trustee; or 

(3) there has occurred and is continuing an Event of Default with respect to the Notes. 

Upon the occurrence of either of the preceding events in clauses (1), (2) or (3) above, Definitive Notes shall be issued in
such names as the Depositary shall instruct the Trustee in writing. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu
of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note
other than as provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b) or (c) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the
Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either clause (1) or (2) below, as applicable, as well as one or more of the other
following clauses, as applicable: 
 (1) Transfer of Beneficial Interests in the Same Global Note.
Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private
Placement Legend. 

  
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 (2) All Other Transfers and Exchanges of Beneficial Interests in Global
Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the Registrar either: 

 

	 	(A)	both: 

  

	 	(i)	a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or
cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

  

	 	(ii)	instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase; or

  

	 	(B)	both: 

  

	 	(i)	a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to
be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

  

	 	(ii)	instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the
transfer or exchange referred to in clause (1) above. 

 Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to
Section 2.06(g) hereof. 
 (3) Transfer of Beneficial Interests to Another Restricted Global Note.
A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of
Section 2.06(b)(2) above and the Registrar receives: 
 (A) if the transferee will take delivery in the
form of a beneficial interest in the 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

  
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 (B) if the transferee will take delivery in the form of a beneficial
interest in the Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof. 

(4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an
Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the following: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this Section 2.06(b)(4), if the Issuer so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to
Section 2.06(b)(4) above at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to Section 2.06(b)(4) above. 

Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the
form of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of Beneficial
Interests for Definitive Notes. 
 (1) Beneficial Interests in Restricted Global Notes to Restricted
Definitive Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of
Exhibit C hereto, including the certifications in item (2)(a) thereof; 

  
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 (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such beneficial interest is being transferred to a Non–U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (2) thereof; 
 (D) if such beneficial interest is being
transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof;

 (E) if such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F)
if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof;

 and the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to
Section 2.06(g) hereof, and the Issuer shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the
Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(2) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a
beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note
only if the Registrar receives the following: 
 (A) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

  
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 (B) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof; 
 and, in each such case set forth in this Section 2.06(c)(2), if the Issuer so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(3) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a
beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon
satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Issuer
will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this
Section 2.06(c)(3) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests through instructions to the Registrar from or through the Depositary and
the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this
Section 2.06(c)(3) will not bear the Private Placement Legend. 
 (d) Transfer and Exchange of
Definitive Notes for Beneficial Interests. 
 (1) Restricted Definitive Notes to Beneficial Interests in
Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery
thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto,
including the certifications in item (2)(b) thereof; 

  
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 (B) if such Restricted Definitive Note is being transferred to a QIB in
accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Definitive Note is being transferred to a Non–U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (2) thereof; 
 (D) if such Restricted Definitive Note is being
transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof;

 (E) if such Restricted Definitive Note is being transferred to the Issuer or any of the Issuer’s
Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F) if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(c) thereof; 
 and the Trustee will cancel the Restricted Definitive Note, increase or cause
to be increased the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, and in the case of clause (C) above, the Regulation S
Global Note. 
 (2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.
A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in
an Unrestricted Global Note only if the Registrar receives the following: 
 (A) if the Holder of such Definitive
Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(B) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in
the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this Section 2.06(d)(2), if the Issuer so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 

  
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 Upon satisfaction of the conditions of any of the clauses in this Section 2.06(d)(2),
the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 
 (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an
Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the
Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 
 If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to Section 2.06(d)(2), or 2.06(d)(3) above at a time when an Unrestricted Global Note has
not yet been issued, the Issuer will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the
principal amount of Definitive Notes so transferred. 
 (e) Transfer and Exchange of Definitive Notes for Definitive
Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration
of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by
its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e).

 (1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note
may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made
pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act,
then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

  
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 (2) Restricted Definitive Notes to Unrestricted Definitive Notes.
Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if the Registrar receives
the following: 
 (A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an
Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
 (B) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such
Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set
forth in this Section 2.06(e)(2), if the Issuer so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive
Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to
the instructions from the Holder thereof. 
 (f) Legends. The following legends will appear on the face of all
Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
 (1) Private Placement Legend. 
 (A) Except as permitted by
subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5
OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM.
EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS 

  
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HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED
HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (1)(A) INSIDE THE UNITED STATES TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (B) OUTSIDE THE UNITED STATES
TO A FOREIGN PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF
APPLICABLE) OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER IF THE ISSUER SO REQUESTS), (2) TO THE ISSUER OR
(3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT
HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE
SECURITY EVIDENCED HEREBY.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued
pursuant to clauses (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2) or (e)(3) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 

(2) Global Note Legend. Each Global Note will bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.01 AND SECTION 2.06 OF THE INDENTURE,
(2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND
(4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 

  
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 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE
MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR
A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(g) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note
have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in accordance with
Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly and an
endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 (h) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Issuer will execute and the Trustee will authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 
 (2) No service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuer may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10,
3.06, 4.08, 4.12 and 9.05 hereof). 

  
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 (3) The Registrar will not be required to register the transfer of or
exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 
 (4) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Issuer, evidencing the same debt,
and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
 (5) Neither the Registrar nor the Issuer will be required: 
 (A) to
issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the mailing of a notice of redemption of Notes to be redeemed under Section 3.02 hereof or purchased pursuant to an
offer to purchase and ending at the close of business on the day such notice of redemption is mailed; 
 (B) to
register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; or 

(C) to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date.

 (6) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the
Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, any
Agent or the Issuer shall be affected by notice to the contrary. 
 (7) The Trustee will authenticate Global
Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 
 (8) All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

(9) Neither the Trustee nor any Agent shall have any obligation or duty to monitor, determine or inquire as to compliance
with any tax or securities laws with respect to any restrictions on transfer imposed under this Indenture or under applicable law (including any transfers between or among Depositary Participants, Indirect Participants, members or beneficial owners
in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof. 

  
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 Section 2.07 Replacement Notes. 

(a) If any mutilated Note is surrendered to the Trustee or the Issuer and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Issuer will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s requirements are met. An indemnity bond must be supplied by the Holder
that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuer may charge for its expenses in
replacing a Note. 
 (b) Every replacement Note is an additional obligation of the Issuer and will be entitled to all of the
benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 
 Section 2.08 Outstanding
Notes. 
 (a) The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by
it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in
Section 2.09 hereof, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or a Subsidiary of the Issuer shall not be deemed to be outstanding for purposes of
Section 3.07(a) and Section 9.02(a) hereof. 
 (b) If a Note is replaced pursuant to Section 2.07
hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. 
 (c) If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 

(d) If the Paying Agent (other than the Issuer, a Subsidiary of the Issuer or an Affiliate of any thereof) holds, on a redemption date or
maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 
 Section 2.09 Treasury Notes. 
 In determining whether the Holders of
the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer or any Guarantor, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control
with the Issuer or any Guarantor, will be considered as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that a Responsible
Officer of the Trustee actually knows are so owned will be so disregarded. 

  
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 Section 2.10 Temporary Notes. 

(a) Until certificates representing Notes are ready for delivery, the Issuer may prepare and the Trustee, upon receipt of an
Authentication Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to
the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes. 
 (b) Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.11 Cancellation. 
 The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or
payment. The Trustee and no one else will cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of such canceled Notes in its customary manner (subject to the record retention
requirement of the Exchange Act). Certification of the disposition of all canceled Notes will be delivered to the Issuer at the Issuer’s written request. The Issuer may not issue new Notes to replace Notes that it has paid or that have been
delivered to the Trustee for cancellation. 
 Section 2.12 Defaulted Interest. 

If the Issuer defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer will notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will
mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 
 Section 2.13 CUSIP Numbers. 
 The Issuer in issuing the Notes may use
“CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as
to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Issuer will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 

  
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 ARTICLE 3 
 REDEMPTION AND PREPAYMENT 
 Section 3.01 Notices to Trustee. 

If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the
Trustee, at least 30 days but not more than 60 days before a redemption date, or such shorter notice period as the Trustee and Issuer shall agree, an Officer’s Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the redemption date; 
 (3) the principal amount of Notes to be redeemed; 
 (4) the
redemption price; and 
 (5) the applicable CUSIP Numbers. 

Section 3.02 Selection of Notes to Be Redeemed. 
 (a) If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption or purchase as follows: 

(1) if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal
national securities exchange on which the Notes are listed; or 
 (2) if the Notes are not listed on any national
securities exchange, on a pro rata basis. 
 (b) In the event of partial redemption or purchase by lot, the particular
Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption date by the Trustee from the outstanding Notes not previously called for redemption. 

(c) The Trustee will promptly notify the Issuer in writing of the Notes selected for redemption and, in the case of any Note selected for
partial redemption or purchase, the principal amount thereof to be redeemed. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess of $2,000; provided that no Notes of $2,000 or less shall be
redeemed in part. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. 
 Section 3.03 Notice of Redemption. 
 (a) At least 30 days but not more
than 60 days before a redemption date, the Issuer will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may

  
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be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles
8 or 11 hereof. 
 (b) The notice will identify the Notes (including CUSIP Numbers) to be redeemed and will state: 

(1) the redemption date; 
 (2) the redemption price; 
 (3) if any Note is being redeemed in
part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the
original Note; 
 (4) the name and address of the Trustee; 

(5) that Notes called for redemption must be surrendered to the Trustee to collect the redemption price; 

(6) that, unless the Issuer defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date; 
 (7) the paragraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; 
 (8) that no representation is made as to
the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes; and 

(9) if in connection with any conditional notice of redemption pursuant to Section 3.07 hereof, any condition to
the related redemption. In addition, if such redemption is subject to satisfaction of one or more conditions precedent, such notice of redemption shall describe each such condition, and if applicable, shall state that, in the Issuer’s
discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been
satisfied by the stated redemption date, or by the redemption date as so delayed. 
 (c) At the Issuer’s written request,
the Trustee will give the notice of redemption in the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee, at least 45 days prior to the redemption date, an Officer’s Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03(b). 

Section 3.04 Effect of Notice of Redemption. 
 Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price, except as
provided for in Section 3.07(h) hereof. The notice, if mailed in accordance with Section 3.03 hereof, shall be conclusively presumed to have been given, 

  
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whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder designated for redemption in whole or in part shall not
affect the validity of the proceedings for the redemption of any other Note. 
 Section 3.05 Deposit of Redemption Price.

 (a) One Business Day prior to the redemption date, the Issuer will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption price of and accrued interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying Agent by the Issuer in
excess of the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed. 
 (b) If the
Issuer complies with the provisions of Section 3.05(a), on and after the redemption date, interest will cease to accrue on the Notes or the portions of Notes called for redemption. If a Note is redeemed on or after an interest record date but
on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption is not so paid
upon surrender for redemption because of the failure of the Issuer to comply with Section 3.05(a), interest shall be paid on the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest
not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 
 Section 3.06 Notes
Redeemed in Part. 
 Upon surrender of a Note that is redeemed in part, the Issuer will issue and, upon receipt of an
Authentication Order, the Trustee will authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered, provided that each new Note will be in a
principal amount of $2,000 or an integral multiple of $1,000 in excess of $2,000. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and not an Opinion of Counsel or Officer’s
Certificate is required for the Trustee to authenticate such new Note. 
 Section 3.07 Optional Redemption. 

(a) At any time prior to December 15, 2015, the Issuer may on any one or more occasions redeem up to 35% of the aggregate principal
amount of Notes issued under this Indenture (including any Additional Notes) at a redemption price of 108.750% of the principal amount thereof, plus accrued and unpaid interest on the Notes redeemed to, but not including, the redemption date
(subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the aggregate principal amount of Notes issued under this Indenture (excluding Notes held by the
Issuer and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption (unless all of such Notes are redeemed); and 

  
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 (2) the redemption occurs within 180 days of the date of the closing of such
Equity Offering. 
 Except pursuant to this Section 3.07(a) or as otherwise set forth below, the Notes will not be
redeemable at the Issuer’s option prior to December 15, 2016. The Issuer will not, however, be prohibited from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise, so
long as the acquisition does not violate the terms of this Indenture. 
 (b) On or after December 15, 2016, the Issuer may
redeem all or a part of the Notes, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, on the Notes redeemed to, but not including, the applicable redemption date, if
redeemed during the 12–month period beginning on December 15 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2016
	  	 	104.375	% 
	 2017
	  	 	102.188	% 
	 2018 and thereafter
	  	 	100.000	% 

 Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable redemption date. 
 (c) During any 12–month period
commencing on the date that is one year after the Issue Date until December 15, 2016, the Issuer will be entitled at its option to redeem up to 10% of the aggregate principal amount of the Notes issued under this Indenture at a redemption price
equal to 103.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
 (d) At any time prior to December 15, 2016, the Issuer may
also redeem all or a part of the Notes, at a redemption price equal to 100% of the aggregate principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the
date of redemption (subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date). 
 (e) Any redemption pursuant to this Section 3.07 shall be made pursuant to and in compliance with the provisions of Sections 3.01 through 3.06 hereof. 

(f) Any notice of any redemption pursuant to this Section 3.07 may be given prior to the redemption thereof, and any such redemption
or notice may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of an Equity Offering or other corporate transaction. In the event that any conditional notice of redemption
pursuant to this Section 3.07(h) is rescinded by the Issuer, the 

  
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Issuer shall promptly deliver an Officer’s Certificate to the Trustee instructing it to notify the Depositary to rescind such notice in accordance with the Applicable Procedures. The Issuer
will mail or cause to be mailed, by first class mail, a notice of such redemption having been rescinded to each Holder whose Notes were to be redeemed at its registered address. 
 Section 3.08 Mandatory Redemption. 
 The Issuer shall not be required
to make mandatory redemption or sinking fund payments with respect to the Notes. 
 Section 3.09 Calculation of Redemption Price

 Neither the Trustee nor any Agent shall have an obligation to calculate the redemption price of any Notes. 

ARTICLE 4 

COVENANTS 
 Section 4.01
Payment of Notes. 
 (a) The Issuer will pay or cause to be paid the principal of, premium, if any, and interest on the
Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest will be considered paid on the date due if the Paying Agent, if other than the Issuer or a Subsidiary of the Issuer, holds as of 10:00 a.m. New York
City Time on the Business Day immediately preceding the due date money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal of, premium, if any, and interest, then due. 

(b) The Issuer will pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on overdue
installments of interest at the same rate borne by the Notes to the extent lawful. 
 Section 4.02 Maintenance of Office or Agency.

 (a) The Issuer will maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of
the Trustee or an affiliate of the Trustee, Registrar or co–registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer (other than the type contemplated by
Section 14.13) in respect of the Notes and this Indenture may be served. The Issuer will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer fails to
maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

(b) The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered
for any or all such purposes and 

  
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may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Issuer of its obligation to maintain an office or
agency in the Borough of Manhattan, the City of New York for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.

 (c) The Issuer hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Issuer in
accordance with Section 2.03 hereof. 
 Section 4.03 Reports. 

(a) So long as any Notes are outstanding, commencing with the year ending December 31, 2012, the Issuer shall make available without
cost to the Trustee: 
 (1) as soon as available but within 90 days after the end of each financial year of the
Issuer, all annual financial statements that would be required to be contained in a filing with the SEC on Form 10-K of the Issuer, plus a “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, a
presentation of EBITDA and Adjusted EBITDA of the Issuer substantially consistent with the presentation thereof in the Offering Document and derived from such financial information and a report on the annual financial statements by the Issuer’s
independent registered public accounting firm; 
 (2) as soon as available but within 45 days after the end of
each of the first three fiscal quarters of each financial year of the Issuer, all quarterly financial statements that would be required to be contained in a filing with the SEC on Form 10-Q of the Issuer, plus a “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” and a presentation of EBITDA and Adjusted EBITDA of the Issuer substantially consistent with the presentation thereof in the Offering Document and derived from such financial
information; and 
 (3) promptly from time to time after the occurrence of an event required to be therein
reported, such other reports (in each case, without exhibits) containing substantially the same information required to be contained in a Current Report on Form 8-K under Item 1.01 (Entry into a Material Definitive Agreement), 1.02 (Termination
of a Material Definitive Agreement), 1.03 (Bankruptcy or Receivership), 2.01 (Completion of Acquisition or Disposition of Assets), 2.02 (Results of Operations and Financial Condition), 2.03 (Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant), 2.04 (Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement), 2.05 (Costs Associated with Exit or Disposal
Activities), 2.06 (Material Impairments), 4.01 (Changes in Registrant’s Certifying Accountant), 4.02 (Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review), 5.01 (Changes in Control of
Registrant) and 5.02(a)(1)(i)-(ii), (b) and (c)(1) (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers); provided, however, that no report in this clause (3) shall be required
to be furnished if the Issuer determines in its good faith judgment that such event is not material to the Holders or the business, assets, operations, financial position or prospects of the Issuer and the Restricted Subsidiaries of the Issuer.

  
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 (b) The Issuer will use commercially reasonable efforts to hold a quarterly conference call
for the Holders of the Notes, securities analysts and prospective investors to discuss financial information for the previous fiscal quarter or previous fiscal year, as applicable, to be held as soon as reasonably practicable after furnishing or
posting the financial information as set forth in 4.03(a). No fewer than three days prior to the conference call, the Issuer shall post on its website the time and date of such conference call and provide instructions for Holders of Notes,
securities analysts and prospective investors to obtain access to such call. 
 (c) This Section 4.03 shall not impose any
duty on the Issuer under the Sarbanes–Oxley Act of 2002 and the related SEC rules that would not otherwise be applicable. 

(d) For so long as any Notes remain outstanding, if at any time they are not required furnish the information required by
Section 4.03(a), the Issuer and the Guarantors will furnish to the Holders and to prospective purchasers of the Notes or beneficial owner of the Notes in connection with any sale thereof, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (e) In the event that any direct or indirect parent of
the Issuer becomes a Guarantor of the Notes, the Issuer may satisfy its obligations under this Section 4.03 with respect to financial information relating to the Issuer by furnishing financial information relating to such parent; provided
that the same is accompanied by information that explains in reasonable detail the differences between the information relating to such parent, on the one hand, and the information relating to the Issuer and its Restricted Subsidiaries on a
standalone basis, on the other hand. 
 (f) Notwithstanding the foregoing, the requirements of this Section 4.03 shall be
deemed satisfied by posting reports on the Issuer’s website (or on the publicly available website of any of its parent companies or Subsidiaries) containing the financial information (including a “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” section) that would be required to be included in such reports, subject to exceptions consistent with the presentation of financial information in the Offering Document. The Trustee will have no
responsibility to determine whether such posting has occurred. 
 (g) Delivery of such reports, information and documents to the
Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s or any
Guarantor’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
 Section 4.04 Compliance Certificate. 
 (a) The Issuer shall deliver to
the Trustee within 120 days after the end of each fiscal year of the Issuer (beginning with the fiscal year ended December 31, 2012) an Officer’s Certificate stating that in the course of the performance by the signers of their duties as

  
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Officers they would normally have knowledge of any Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the
Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 
 (b) So long as any of the
Notes are outstanding, the Issuer will deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Issuer is
taking or propose to take with respect thereto. 
 Section 4.05 Restricted Payments. 

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

(1) declare or pay any dividend or make any other payment or distribution on account of the Issuer’s or any of its
Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Issuer or any of its Restricted Subsidiaries) or to the direct or indirect holders of the
Issuer’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Issuer and other than dividends or
distributions payable to the Issuer or a Restricted Subsidiary of the Issuer); 
 (2) purchase, redeem or
otherwise acquire or retire for value (including, without limitation, in connection with any merger or consolidation involving the Issuer) any Equity Interests of the Issuer or any direct or indirect parent of the Issuer; 

(3) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value, any
Indebtedness of the Issuer or any Guarantor that is contractually subordinated to the Notes or to any Note Guarantee (excluding (x) any intercompany Indebtedness between or among the Issuer and any of its Restricted Subsidiaries or (y) the
purchase, repurchase or other acquisition of Indebtedness that is contractually subordinated to the Notes or to any Note Guarantee, as the case may be, purchased in anticipation of satisfying a sinking fund obligation, principal installment or final
maturity, in each case due within one year of the date of purchase, repurchase or acquisition), except a payment of interest or principal at the Stated Maturity thereof; or 

(4) make any Restricted Investment (all such payments and other actions set forth in these clauses (1) through
(4) above being collectively referred to as “Restricted Payments”), unless, at the time of and after giving effect to such Restricted Payment: 

(A) no Default or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted
Payment; 
 (B) the Issuer would, after giving pro forma effect thereto as if such Restricted Payment had
been made at the beginning of the applicable four–quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to Section 4.07(a); and 

  
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 (C) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Issuer and its Restricted Subsidiaries since the Issue Date (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (6), (8), (9), (10), (11), (12), (13), (15), (16), (17), (19) and (20) of
Section 4.05(c) hereof), is less than the sum, without duplication, of: 
  

	 	(i)	50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period) beginning on the first day of the Issuer’s fiscal quarter in which
the Issue Date occurred to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a
deficit, less 100% of such deficit); plus 

  

	 	(ii)	100% of the aggregate net proceeds, including cash and the Fair Market Value of property other than cash, received by the Issuer since the Issue Date (x) as a
contribution to its common equity capital or (y) from the issue or sale of Equity Interests of the Issuer or any direct or indirect parent of the Issuer (other than Disqualified Stock, Designated Preferred Stock, Excluded Contributions or Cash
Contributions) or from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or
Disqualified Stock or debt securities) sold to a Subsidiary of the Issuer); plus 

  

	 	(iii)	to the extent that any Restricted Investment that was made after the Issue Date is sold for cash or otherwise liquidated or repaid for cash, 100% of the aggregate
amount received in cash and the Fair Market Value of property other than cash received; plus 

  

	 	(iv)	 to the extent that any Unrestricted Subsidiary of the Issuer designated as such after the Issue Date is redesignated as a Restricted Subsidiary of the
Issuer after the Issue Date or has been merged into, consolidated or amalgamated with or into, or transfers or conveys its assets to, the Issuer or a Restricted Subsidiary of the Issuer, 100% of the Fair Market Value of the Issuer’s Investment
in such Subsidiary as of the date of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable) 

  
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after deducting any Indebtedness associated with the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed; plus

  

	 	(v)	100% of any dividends or distributions received by the Issuer or a Restricted Subsidiary of the Issuer after the Issue Date from an Unrestricted Subsidiary of the
Issuer, to the extent that such dividends or distributions were not otherwise included in the Consolidated Net Income of the Issuer for such period. 

 (b) Upon the completion of a Qualified MLP IPO (the date of such completion, the “IPO Date”), the Issuer and its Restricted Subsidiaries will no longer be subject to the foregoing
covenant set forth in Section 4.05(a) and the Issuer and its Restricted Subsidiaries will be subject to the covenant set forth in this Section 4.05(b) from and after the IPO Date. 

(1) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, make any
Restricted Payment unless, at the time of and after giving effect to such Restricted Payment, no Default or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment and either: 

(A) if the Fixed Charge Coverage Ratio for the Issuer’s most recently ended four full fiscal quarters for which
internal financial statements are available (the “Trailing Four Quarters”) at the time of such Restricted Payment is not less than 1.75 to 1.0, such Restricted Payment, together with the aggregate amount of all other Restricted
Payments made by the Issuer and its Restricted Subsidiaries (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (6), (8), (9), (10), (11), (12), (13), (15), (16), (17), (19) and (20) of Section 4.05(c) hereof)
from the date of the completion of a Qualified MLP IPO, is less than the sum, without duplication of: 
  

	 	(i)	Operating Surplus as of the end of the immediately preceding quarter for which internal financial statements are available at the time of such Restricted Payment,
plus 

  

	 	(ii)	 to the extent not included in the calculation of Operating Surplus calculated as of the end of the Issuer’s preceding fiscal quarter, 100% of the
aggregate net proceeds, including cash and the Fair Market Value of property other than cash, received by the Issuer since the Issue Date (x) as a contribution to its common equity capital or (y) from the issue or sale of Equity Interests
of the Issuer or any direct or indirect parent of the Issuer (other than Disqualified Stock, Designated Preferred Stock, Excluded Contributions or Cash Contributions) or from the issue or sale of convertible or exchangeable Disqualified Stock or

  
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convertible or exchangeable debt securities that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold to a
Subsidiary of the Issuer; plus 

  

	 	(iii)	to the extent not included in the calculation of Operating Surplus calculated as of the end of the Issuer’s preceding fiscal quarter, to the extent that any
Restricted Investment that was made after the Issue Date is sold for cash or otherwise liquidated or repaid for cash, 100% of the aggregate amount received in cash and the Fair Market Value of property other than cash received; plus

  

	 	(iv)	to the extent not included in the calculation of Operating Surplus calculated as of the end of the Issuer’s preceding fiscal quarter, to the extent that any
Unrestricted Subsidiary of the Issuer designated as such after the Issue Date is redesignated as a Restricted Subsidiary of the Issuer after the Issue Date or has been merged into, consolidated or amalgamated with or into, or transfers or conveys
its assets to, the Issuer or a Restricted Subsidiary of the Issuer, 100% of the Fair Market Value of the Issuer’s Investment in such Subsidiary as of the date of such redesignation, combination or transfer (or of the assets transferred or
conveyed, as applicable) after deducting any Indebtedness associated with the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed to the extent such amounts have not been
included in Available Cash from Operating Surplus for any period commencing on or after the Issue Date; plus 

  

	 	(v)	to the extent not included in the calculation of Operating Surplus calculated as of the end of the Issuer’s preceding fiscal quarter, 100% of any dividends or
distributions received by the Issuer or a Restricted Subsidiary of the Issuer after the Issue Date from an Unrestricted Subsidiary of the Issuer (items (ii), (iii), (iv) and (v) being referred to collectively as the “Incremental
Funds”), minus 

  

	 	(vi)	the aggregate amount of Incremental Funds previously expended pursuant to Sections 4.05(a) and this Section 4.05(b); or 

(B) if the Fixed Charge Coverage Ratio for the Trailing Four Quarters at the time of such Restricted Payment is less than
1.75 to 1.00, such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries (excluding Restricted Payments 

  
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permitted by clauses (2), (3), (4), (5), (6), (8), (9), (10), (11), (12), (13), (15), (16), (17), (19) and (20) of Section 4.05(c) hereof) from the date of completion of a
Qualified MLP IPO, is less than the sum, without duplication of: 
  

	 	(i)	$125.0 million less the aggregate amount of all prior Restricted Payments made by the Issuer and its Restricted Subsidiaries pursuant to this clause (B)(i) since the
IPO Date, plus 

  

	 	(ii)	Incremental Funds to the extent not previously expended pursuant to Sections 4.05(a) and this Section 4.05(b). 

(c) The provisions of Sections 4.05(a) and 4.05(b) hereof will not prohibit: 

(1) the payment of any dividend or distribution or the consummation of any redemption within 60 days after the date of
declaration of the dividend or distribution or giving of the redemption notice, as the case may be, if, at the date of declaration or notice, the dividend, distribution or redemption payment would have complied with the provisions of this Indenture;

 (2) the making of any Restricted Payment in exchange for, or out of the net cash proceeds of the substantially
concurrent sale (other than to a Subsidiary of the Issuer) of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer (other than Disqualified Stock) or from the substantially concurrent contribution of common equity capital
to the Issuer; provided that the amount of any such net cash proceeds that are utilized for any such Restricted Payment will be excluded from (x) clause (C)(ii) of Section 4.05(a) hereof and (y) the calculation of
Operating Surplus and Incremental Funds, as applicable; 
 (3) the repurchase, redemption, defeasance or other
acquisition or retirement for value of Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer that is contractually subordinated to the Notes or to any Note Guarantee with the net cash proceeds from a substantially concurrent
incurrence of Permitted Refinancing Indebtedness; 
 (4) the payment of any dividend (or, in the case of any
partnership or limited liability company, any similar distribution) by a Restricted Subsidiary of the Issuer to the holders of its Equity Interests on a pro rata basis; 

(5) the repurchase, redemption or other acquisition or retirement (or dividends or distributions to any direct or indirect
parent of the Issuer to finance any such repurchase, redemption or other acquisition or retirement) for value of any Equity Interests of the Issuer or any Restricted Subsidiary of the Issuer or any direct or indirect parent of the Issuer held by any
current or former officer, director, consultant or employee of the Issuer or any of its Restricted Subsidiaries or any direct or indirect parent of the Issuer pursuant to any equity subscription agreement, stock option agreement, shareholders’
or members’ agreement or similar agreement, plan or arrangement, including any Equity Interests rolled over by management of the Issuer 

  
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or any director or indirect parent of the Issuer in connection with the Transactions; provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity
Interests may not exceed $10.0 million in any calendar year (which shall increase to $20.0 million subsequent to the consummation of an underwritten public Equity Offering by the Issuer or any of its direct or indirect parent entities) (with unused
amounts in any calendar year being permitted to be carried over for the two succeeding calendar years); provided further, that the amount in any calendar year may be increased by an amount not to exceed: 

(i) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests
(other than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its Restricted Subsidiaries or any direct or
indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition, or dividend or distribution will not increase the amount available
for Restricted Payments under (x) clause (C)(ii) of Section 4.05(a) hereof and (y) the calculation of Operating Surplus and Incremental Funds, as applicable); plus 

(ii) the cash proceeds of key man life insurance policies received by the Issuer or any direct or indirect parent of the
Issuer (to the extent contributed to the Issuer) and its Restricted Subsidiaries after the Issue Date; 
 provided that
the Issuer may elect to apply all or any portion of the aggregate increase contemplated by (i) and (ii) above in any single calendar year; 
 (6) the repurchase of Equity Interests deemed to occur upon the exercise of stock options or warrants to the extent such Equity Interests represent a portion of the exercise price of those stock options
or warrants; 
 (7) the declaration and payment of regularly scheduled or accrued dividends or distributions to
holders of any class or series of Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer issued on or after the Issue Date in accordance with Section 4.07(a) hereof; 

(8) Permitted Payments to Parent; 
 (9) purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables Financing; 

(10) the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) issued after the Issue Date and the declaration and payment of dividends to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends or distributions to
holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date; provided, however, that (A) for the most recently ended four
full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after 

  
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giving effect to such issuance (and the payment of dividends or distributions) on a pro forma basis, the Issuer could incur an additional $1.00 of Indebtedness pursuant to the Fixed Charge
Coverage Ratio, and (B) the aggregate amount of dividends declared and paid pursuant to this clause (10) does not exceed the net cash proceeds actually received by the Issuer (including any such proceeds contributed to the Issuer by any
direct or indirect parent of the Issuer) from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; 
 (11) any Restricted Payment made in connection with the Transactions (including payments made in connection with the consummation of the offering of the Initial Notes) and the fees and expenses related
thereto; 
 (12) Restricted Payments in an aggregate amount equal to the amount of Excluded Contributions
previously received by the Issuer and its Restricted Subsidiaries; 
 (13) other Restricted Payments in an
aggregate amount not to exceed $50.0 million since the Issue Date; 
 (14) the satisfaction of change of control
obligations and asset sale obligations once the Issuer has fulfilled its obligations under this Indenture with respect to a Change of Control or an Asset Sale; 
 (15) the repayment of intercompany debt that was permitted to be incurred under this Indenture; 
 (16) cash dividends or other distributions on the Issuer’s Capital Stock used to, or the making of loans to any direct or indirect parent of the Issuer to, fund the payment of fees and expenses owed
by the Issuer or its Restricted Subsidiaries to Affiliates, to the extent permitted by Section 4.09 hereof (except for transactions described in Section 4.09(b)(6)); 

(17) the payment of dividends or distributions on the Issuer’s common equity (or the payment of dividends or
distributions to a direct or indirect parent of the Issuer to fund the payment by such parent of dividends or distributions on its common equity) of up to 6.0% per calendar year of the net proceeds received by the Issuer from any public Equity
Offering (other than a Qualified MLP IPO) or contributed to the Issuer by a direct or indirect parent of the Issuer from any public Equity Offering (other than a Qualified MLP IPO); provided that the amount of any such net cash proceeds that
are utilized for any such Restricted Payment will be excluded from (x) clause (C)(ii) of Section 4.05(a) hereof and (y) the calculation of Operating Surplus and Incremental Funds, as applicable; and 

(18) the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Issuer or a
Restricted Subsidiary of the Issuer by, Unrestricted Subsidiaries; 
 (19) cash payments in lieu of the issuance
of fractional shares in connection with the exercise of warrants, options or other securities convertible or exchangeable for Capital Stock of the MLP; and 

  
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 (20) any Restricted Payment made in connection with or as a result of the
MLP Formation Transactions; provided that the amount of Incremental Funds shall be reduced by the amount of any distribution described in clause (iii) of the definition of MLP Formation Transactions; 

provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses
(10) or (17) of this Section 4.05(c), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 
 (d) The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the
Issuer or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. In the event that a Restricted Payment meets the criteria of more than one of the exceptions described in (1) through (20) above or is entitled
to be made pursuant to Section 4.05(a), Section 4.05(b)(1) or Section 4.05(b)(2), as applicable, the Issuer shall, in its sole discretion, classify such Restricted Payment (or portion thereof) on the date made or later reclassify such
Restricted Payment (or portion thereof) in any manner that complies with this Section 4.05. 
 Section 4.06 Dividend and Other
Payment Restrictions Affecting Subsidiaries. 
 (a) The Issuer will not, and will not permit any of its Restricted
Subsidiaries that is not a Guarantor to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of the Issuer or any of its Restricted Subsidiary that is not a Guarantor to:

 (1) pay dividends or make any other distributions on its Capital Stock to the Issuer or any of its Restricted
Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Issuer or any of its Restricted Subsidiaries; 

(2) make loans or advances to the Issuer or any of its Restricted Subsidiaries; or 

(3) sell, lease or transfer any of its properties or assets to the Issuer or any of its Restricted Subsidiaries.

 (b) The restrictions in Section 4.06(a) hereof will not apply to encumbrances or restrictions existing under or by
reason of: 
 (1) agreements governing Indebtedness outstanding on the Issue Date, the Credit Agreement and
Credit Facilities, including any related documentation and related Hedging Obligations, as in effect on the Issue Date; 
 (2) this Indenture, the Notes, the Note Guarantees (and any Additional Notes and related Guarantees under this Indenture or other Pari Passu Payment Lien Obligations) and the Security Documents;

 (3) applicable law, rule, regulation, order, approval, license, permit or similar restriction; 

  
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 (4) any instrument governing Indebtedness or Capital Stock of a Person
acquired by the Issuer or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection with or in contemplation of such acquisition), which
encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness
was permitted by the terms of this Indenture to be incurred; 
 (5) non–assignment provisions or subletting
restrictions in contracts, leases and licenses entered into in the ordinary course of business; 
 (6) purchase
money obligations for property (including Capital Stock) acquired in the ordinary course of business and Capital Lease Obligations that impose restrictions on the property purchased or leased of the nature described in
Section 4.06(a)(3) hereof; 
 (7) any agreement for the sale or other disposition of the Capital Stock
or assets of a Restricted Subsidiary of the Issuer that restricts distributions by that Restricted Subsidiary pending closing of the sale or other disposition; 
 (8) Permitted Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a
whole, than those contained in the agreements governing the Indebtedness being refinanced; 
 (9) Liens permitted
to be incurred under Section 4.10 hereof that limit the right of the debtor to dispose of the assets securing such Indebtedness; 
 (10) provisions limiting the disposition or distribution of assets or property or transfer of Capital Stock in joint venture agreements, asset sale agreements, sale–leaseback agreements, stock sale
agreements, limited liability company organizational documents, and other similar agreements entered into in the ordinary course of business, consistent with past practice or with the approval of the Issuer’s Board of Directors, which
limitation is applicable only to the assets, property or Capital Stock that are the subject of such agreements; 

(11) any encumbrance or restriction of a Receivables Subsidiary effected in connection with a Qualified Receivables
Financing; provided, however, that such restrictions apply only to such Receivables Subsidiary; 

(12) restrictions on cash, Cash Equivalents, Marketable Securities or other deposits or net worth imposed by customers or
lessors under contracts or leases entered into in the ordinary course of business; 
 (13) other Indebtedness of
Restricted Subsidiaries that are non–Guarantors that is incurred subsequent to the Issue Date pursuant to Section 4.07 hereof; 
 (14) encumbrances on property that exist at the time the property was acquired by the Issuer or a Restricted Subsidiary of the Issuer; 

(15) contractual encumbrances or restrictions in effect on the Issue Date; 

  
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 (16) customary provisions in master limited partnership agreements, joint
venture agreements or arrangements and other similar agreements or arrangements relating solely to such master limited partnership or joint venture; 
 (17) any encumbrance or restriction with respect to an Unrestricted Subsidiary pursuant to or by reason of an agreement that the Unrestricted Subsidiary is a party to or entered into before the date on
which such Unrestricted Subsidiary became a Restricted Subsidiary of the Issuer; provided that such agreement was not entered into in anticipation of the Unrestricted Subsidiary becoming a Restricted Subsidiary of the Issuer and any such
encumbrance or restriction does not extend to any assets or property of the Issuer or any Restricted Subsidiary other than the assets and property of such Unrestricted Subsidiary; 

(18) any encumbrance or restriction contained in the terms of any Indebtedness or any agreement pursuant to which such
Indebtedness was incurred if either (x) the encumbrance or restriction applies only in the event of a payment default or a default with respect to a financial covenant in such Indebtedness or agreement or (y) the Issuer determines that any
such encumbrance or restriction will not materially affect the Issuer’s ability to make principal or interest payments on the Notes, as determined in good faith by the Issuer, whose determination shall be conclusive; 

(19) provisions with respect to the receipt of a rebate on an operating lease until all obligations due to a lessor on
other operating leases are satisfied or other customary restrictions in respect of assets or contract rights acquired by a Restricted Subsidiary of the Issuer in connection with a Sale/Leaseback Transaction; 

(20) Permitted Additional Pari Passu Obligations or any other Secured Indebtedness otherwise permitted to be incurred
pursuant to Sections 4.07 and 4.10 hereof that limit the right of the debtor to dispose of the assets securing such Indebtedness; 
 (21) encumbrances and restrictions contained in contracts entered into in the ordinary course of business, not relating to any Indebtedness, and that do not, individually or in the aggregate, detract from
the value of property or assets of the Issuer or any Restricted Subsidiary of the Issuer or the ability of the Issuer or such Restricted Subsidiary to realize such value, or to make any distributions relating to such property or assets in each case
in any material respect; and 
 (22) any encumbrances or restrictions imposed by any amendments or refinancings
of the contracts, instruments or obligations referred to above in clauses (1) through (21); provided that such encumbrances and restrictions contained in such amendments or refinancings are not materially more restrictive, taken as a
whole, than such encumbrances and restrictions prior to such amendment or refinancing. 
 (c) For purposes of determining
compliance with this Section 4.06, (i) the priority of any preferred stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on ordinary shares shall not be deemed a restriction
on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made to the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness incurred by the Issuer or any such Restricted Subsidiary
shall not be deemed a restriction on the ability to make loans or advances. 

  
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 Section 4.07 Incurrence of Indebtedness and Issuance of Preferred Equity. 

(a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume,
guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Issuer will not issue any Disqualified Stock and
will not permit any of its Restricted Subsidiaries to issue any shares of preferred equity; provided, however, that the Issuer may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Issuer or any
Restricted Subsidiary of the Issuer may incur Indebtedness (including Acquired Debt) or issue preferred equity, if on the date thereof the Fixed Charge Coverage Ratio for the Issuer’s most recently ended four full fiscal quarters for which
internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or such preferred equity is issued, as the case may be, would have been at least 2.0 to 1.0,
determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred equity had been issued, as the case may be, at the
beginning of such four–quarter period; provided, further, that Restricted Subsidiaries of the Issuer that are not Guarantors may not incur Indebtedness or issue any shares of preferred equity if, after giving pro forma effect to
such incurrence or issuance (including a pro forma application of the net proceeds therefrom), Indebtedness or preferred equity at any one time outstanding and incurred by Restricted Subsidiaries of the Issuer that are not Guarantors pursuant to
this Section 4.07(a) shall exceed $50.0 million. 
 (b) The provisions of Section 4.07(a) hereof will not
prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): 
 (1) the incurrence under Credit Facilities by the Issuer or any of its Restricted Subsidiaries of Indebtedness and letters of credit and bankers’ acceptances thereunder in an aggregate principal
amount under this clause (1) (with letters of credit deemed to have a principal amount equal to the maximum potential liability of the Issuer and its Restricted Subsidiaries thereunder) not to exceed the greater of (x) $400.0 million and
(y) the Borrowing Base as of the date of incurrence of such Indebtedness outstanding at any one time; 
 (2)
the incurrence by the Issuer and its Restricted Subsidiaries of Indebtedness to the extent outstanding on the Issue Date; 
 (3) the incurrence by the Issuer and its Restricted Subsidiaries (including any future Guarantor) of Indebtedness represented by the Notes and the related Note Guarantees to be issued on the Issue Date;

 (4) Indebtedness (including Capitalized Lease Obligations), Disqualified Stock and preferred stock incurred by
the Issuer or any Restricted Subsidiary of the Issuer, to finance the purchase, lease, design, construction, installation, repair, replacement or improvement of property (real or personal) or equipment that is used or useful in a Permitted Business,
whether through the direct purchase of assets or the 

  
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Capital Stock of any Person owning such assets and Indebtedness arising from the conversion of the obligations of the Issuer or any Restricted Subsidiary of the Issuer under or pursuant to any
“synthetic lease” transactions to on-balance sheet Indebtedness of the Issuer or such Restricted Subsidiary, in an aggregate principal amount which, when aggregated with the principal amount of all other Indebtedness, Disqualified Stock
and preferred stock incurred pursuant to this clause (4), does not exceed the greater of (x) $40.0 million and (y) 5.0% of Total Assets at the time of incurrence; provided that Capitalized Lease Obligations incurred by the Issuer or
any Restricted Subsidiary of the Issuer pursuant to this clause (4) in connection with a Sale/Leaseback Transaction shall not be subject to the foregoing limitation so long as the proceeds of such Sale/Leaseback Transaction are used by the
Issuer or such Restricted Subsidiary to permanently repay outstanding Indebtedness of the Issuer and the Restricted Subsidiaries; 
 (5) the incurrence by the Issuer or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace,
defease or discharge any Indebtedness (other than intercompany Indebtedness) that was permitted by this Indenture to be incurred under Section 4.07(a) hereof or clauses (2), (3), (4), (5), (12), (16) or (17) of this
Section 4.07(b); 
 (6) the incurrence by the Issuer or any of its Restricted Subsidiaries of intercompany
Indebtedness and cash management pooling obligations and arrangements between or among the Issuer and any of its Restricted Subsidiaries; provided, however, that: 

(A) if the Issuer or any Guarantor is the obligor on such Indebtedness (other than cash management pooling obligations)
and the payee is not the Issuer or a Guarantor, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations then due with respect to the Notes, in the case of the Issuer, or the Note Guarantee, in the
case of a Guarantor; and 
 (B) (i) any subsequent issuance or transfer of Equity Interests that results in
any such Indebtedness being held by a Person other than the Issuer or a Restricted Subsidiary of the Issuer, and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the Issuer or a Restricted Subsidiary of
the Issuer, will be deemed, in each case, to constitute an incurrence of such Indebtedness by the Issuer or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); 

(7) the issuance by any of the Issuer’s Restricted Subsidiaries to the Issuer or to any of its Restricted
Subsidiaries of shares of preferred equity; provided, however, that: 
 (A) any subsequent issuance
or transfer of Equity Interests that results in any such preferred equity being held by a Person other than the Issuer or a Restricted Subsidiary of the Issuer, and 

  
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 (B) any sale or other transfer of any such preferred equity to a Person that
is not either the Issuer or a Restricted Subsidiary of the Issuer, 
 will be deemed, in each case, to constitute an issuance of
such preferred equity by such Restricted Subsidiary that was not permitted by this clause (7); 
 (8) the
incurrence by the Issuer or any of its Restricted Subsidiaries of Hedging Obligations other than for speculative purposes; 
 (9) the Guarantee by the Issuer or any of its Restricted Subsidiaries of Indebtedness and cash management pooling obligations and arrangements of the Issuer or a Restricted Subsidiary of the Issuer that
was permitted to be incurred by another provision of this Section 4.07 (including Section 4.07(a) hereof); provided that if the Indebtedness being guaranteed is subordinated to or pari passu with the Notes, then the
Guarantee shall be subordinated or pari passu, as applicable, to the same extent as the Indebtedness guaranteed; 
 (10) the incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness in respect of workers’ compensation claims, payment obligations in connection with health or other types of
social security benefits, unemployment or other insurance or self–insurance obligations, reclamation, statutory obligations, bankers’ acceptances, bid, performance, surety or similar bonds and letters of credit or completion or performance
guarantees (including without limitation, performance guarantees pursuant to flying contracts, supply agreements or equipment leases), or other similar obligations in the ordinary course of business or consistent with past practice; 

(11) the incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a
bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds; 
 (12) Indebtedness, Disqualified Stock or preferred equity of the Issuer or any Restricted Subsidiary of the Issuer incurred or issued to finance an acquisition or of Persons that are acquired by the
Issuer or any of its Restricted Subsidiaries or merged into a Restricted Subsidiary of the Issuer in accordance with the terms of this Indenture; provided, however, that for any such indebtedness outstanding under this clause
(12) in excess of $40.0 million, after giving effect to such acquisition and the incurrence of such Indebtedness, Disqualified Stock and preferred equity either: 

(A) the Issuer would be permitted to incur at least $1.00 of additional Indebtedness pursuant to Section 4.07(a)
hereof; or 
 (B) the Fixed Charge Coverage Ratio would not be less than immediately prior to such acquisition;

 (13) Indebtedness incurred by a Receivables Subsidiary in a Qualified Receivables Financing that is not
recourse to the Issuer or any Restricted Subsidiary of the Issuer other than a Receivables Subsidiary (except for Standard Securitization Undertakings); 

  
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 (14) the incurrence of Indebtedness arising from agreements of the Issuer or
a Restricted Subsidiary of the Issuer providing for indemnification, adjustment of purchase price, earn outs, or similar obligations, in each case, incurred or assumed in connection with the disposition or acquisition of any business, assets or a
Subsidiary in accordance with the terms of this Indenture, other than Guarantees of Indebtedness incurred or assumed by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition;

 (15) the incurrence by the Issuer or any of its Restricted Subsidiaries of additional Indebtedness or the
issuance of Disqualified Stock or preferred equity in an aggregate principal amount (or accreted value, as applicable) or having an aggregate liquidation preference at any time outstanding not to exceed the greater of (x) $100.0 million and
(y) 7.5% of Total Assets (it being understood that any Indebtedness, Disqualified Stock or preferred equity incurred pursuant to this clause (15) shall cease to be deemed incurred or outstanding for purposes of this Section 4.07 from
and after the date on which the Issuer could have incurred such Indebtedness or Disqualified Stock or preferred equity under Section 4.07(a) hereof without reliance upon this clause (15)); 

(16) Contribution Indebtedness; 
 (17) Indebtedness of Restricted Subsidiaries of the Issuer that are not Guarantors in an amount not to exceed, in the aggregate at any one time outstanding the greater of (x) $40.0 million and
(y) 10.0% of Total Non-Guarantor Assets (it being understood that any Indebtedness incurred pursuant to this clause (17) shall cease to be deemed incurred or outstanding for purposes of this clause (17) but shall be deemed incurred
under Section 4.07(a) from and after the first date on which such Restricted Subsidiary could have incurred such Indebtedness under Section 4.07(a) without reliance on this clause (17)); 

(18) any “bad boy”, or springing recourse, Guarantee by the Issuer or any Restricted Subsidiary of the Issuer
that is the parent of an MTBE Subsidiary or Permitted MTBE Joint Venture of Indebtedness of an MTBE Subsidiary or Permitted MTBE Joint Venture so long as such Indebtedness (x) is incurred by such MTBE Subsidiary or Permitted MTBE Joint Venture
in connection with its ownership, development, use or operation of its MTBE Assets and (y) such Indebtedness is otherwise non-recourse to the Issuer and its Restricted Subsidiaries (other than any MTBE Subsidiary); 

(19) the incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness in connection with the MLP
Formation Transactions to the extent such Indebtedness is extinguished in connection with the proceeds from a Qualified MLP IPO; 
 (20) Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer supported by a letter of credit or bank guarantee issued pursuant to a Credit Facility, in a principal amount not in excess of
the stated amount of such letter of credit or bank guarantee; and 

  
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 (21) Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer
consisting of (x) the financing of insurance premiums or (y) take or pay obligations contained in supply arrangements, in each case, in the ordinary course of business. 

(c) The Issuer will not incur, and will not permit any Guarantor to incur, any Indebtedness (including Permitted Debt) that is
contractually subordinated in right of payment to any other Indebtedness of the Issuer or such Guarantor unless such Indebtedness is also contractually subordinated in right of payment to the Notes and the applicable Note Guarantee on substantially
identical terms; provided, however, that no Indebtedness shall be deemed to be contractually subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured or by virtue of being secured on a first or
junior Lien basis. 
 (d) For purposes of determining compliance with this Section 4.07, in the event that an item of
proposed Indebtedness, Disqualified Stock or preferred equity meets the criteria of more than one of the categories of Permitted Debt described in clauses (1) through (21) above or is entitled to be incurred pursuant to
Section 4.07(a) hereof, the Issuer will be permitted to classify such item of Indebtedness, Disqualified Stock or preferred equity on the date of its incurrence and will only be required to include the amount and type of such Indebtedness,
Disqualified Stock or preferred equity in one of the above clauses, although the Issuer may divide and classify an item of Indebtedness, Disqualified Stock or preferred equity in one or more of the types of Indebtedness, Disqualified Stock or
preferred equity and may later reclassify all or a portion of such item of Indebtedness, Disqualified Stock or preferred equity, in any manner that complies with this Section 4.07. The accrual of interest or dividends, the accretion or
amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred equity as Indebtedness due to a change in accounting principles, the
payment of dividends on Disqualified Stock or preferred equity in the form of additional shares of the same class of Disqualified Stock or preferred equity and unrealized losses or charges in respect of Hedging Obligations (including those resulting
from the application of Standards Codification No. 815—Derivatives and Hedging (formerly SFAS 133)) will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock or preferred equity for purposes of this
Section 4.07; provided, in each such case (other than preferred stock that is not Disqualified Stock), that the amount of any such accrual, accretion or payment is included in Fixed Charges of the Issuer as accrued. Notwithstanding any
other provision of this Section 4.07, the maximum amount of Indebtedness that the Issuer or any Restricted Subsidiary of the Issuer may incur pursuant to this Section 4.07 shall not be deemed to be exceeded solely as a result of
fluctuations in exchange rates or currency values. 
 (e) For purposes of determining compliance with any U.S. dollar
denominated restriction on the incurrence of Indebtedness where the Indebtedness incurred is denominated in a different currency, the amount of such Indebtedness will be the U.S. Dollar Equivalent determined on the date of the establishment of
the facility or instrument under which such Indebtedness was incurred; provided, however, that if such Indebtedness denominated in a different currency is subject to a Currency Agreement with respect to U.S. dollars, covering all
principal, premium, if any, and interest payable on such Indebtedness, the amount of such Indebtedness expressed in U.S. dollars will be as provided in such Currency Agreement. The principal amount of any refinancing Indebtedness incurred in the
same currency as the 

  
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Indebtedness being refinanced will be the U.S. Dollar Equivalent of the Indebtedness refinanced, except to the extent that (i) such U.S. Dollar Equivalent was determined based on a
Currency Agreement, in which case the refinancing Indebtedness will be determined in accordance with the preceding sentence, and (ii) the principal amount of the refinancing Indebtedness exceeds the principal amount of the Indebtedness being
refinanced, in which case the U.S. Dollar Equivalent of such excess, as appropriate, will be determined on the date such refinancing Indebtedness is incurred. 
 (f) The amount of any Indebtedness outstanding as of any date will be: 
 (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount; (2) the principal amount of the Indebtedness, in the case of any other Indebtedness;
and 
 (2) in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person,
the lesser of: 
 (A) the Fair Market Value of such assets at the date of determination; and 

(B) the amount of the Indebtedness of the other Person. 
 Section 4.08 Asset Sales. 
 (a) The Issuer will not, and will not
permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Issuer (or the
Restricted Subsidiary of the Issuer, as the case may be) receives consideration at the time of the Asset Sale at least equal to the Fair Market Value (such Fair Market Value to be determined on the date of contractually agreeing to such Asset Sale)
of the assets or Equity Interests issued or sold or otherwise disposed of; 
 (2) except in the case of a
Permitted Asset Swap, at least 75% of the aggregate consideration received from such Asset Sale and all other Asset Sales since the Issue Date, on a cumulative basis, by the Issuer or such Restricted Subsidiary is in the form of cash, Cash
Equivalents, Marketable Securities or Additional Assets, or any combination thereof. For purposes of this provision, each of the following shall be deemed to be cash: 

(A) any liabilities of the Issuer or any Restricted Subsidiary of the Issuer (other than contingent liabilities and
liabilities that are by their terms subordinated to the Notes or any Note Guarantee) that are assumed by the transferee of any such assets and as a result of which the Issuer or such Restricted Subsidiary is released from further liability;

 (B) any securities, notes, other obligations or assets received by the Issuer or any such Restricted
Subsidiary from such transferee that are converted by the Issuer or such Restricted Subsidiary into cash or Cash Equivalents within 180 days of the receipt thereof, to the extent of the cash or Cash Equivalents received in that conversion;

  
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 (C) any Designated Non–cash Consideration received by the Issuer or any
of its Restricted Subsidiaries in such Asset Sale; provided that the aggregate Fair Market Value of such Designated Non–cash Consideration, taken together with the Fair Market Value at the time of receipt of all other Designated
Non–cash Consideration received pursuant to this clause (C) less the amount of Net Proceeds previously realized in cash from prior Designated Non–cash Consideration is less than the greater of (x) $40.0 million and (y) 5.0%
of Total Assets at the time of the receipt of such Designated Non–cash Consideration (with the Fair Market Value of each item of Designated Non–cash Consideration being measured at the time received and without giving effect to subsequent
changes in value); and 
 (D) accounts receivable of a business retained by the Issuer or any of its Restricted
Subsidiaries, as the case may be, following the sale of such business; provided that such accounts receivable (i) are not past due more than 90 days and (ii) do not have a payment date greater than 120 days from the date of the
invoices creating such accounts receivable; and 
 (E) any Capital Stock or assets of the kind referred to in
Section 4.08(b)(1)(F), (G) or (H). 
 (3) if such Asset Sale involves the disposition of Collateral,
the Issuer or such Restricted Subsidiary has complied with the provisions of this Indenture and the Security Documents; and 
 (4) if such Asset Sale involves the disposition of Notes Priority Collateral or, after the discharge of ABL Obligations, the disposition of ABL Priority Collateral, the Net Proceeds thereof shall be
delivered to the Collateral Agent for deposit into the Collateral Account, and, if any property other than cash or Cash Equivalents is included in such Net Proceeds, such property shall be made subject to the Note Liens. 

(b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Issuer (or the applicable Restricted Subsidiary of the
Issuer, as the case may be) may: 
 (1) apply such Net Proceeds, at its option: 

(A) to the extent such Net Proceeds constitute proceeds from the sale of ABL Priority Collateral, to repay Indebtedness
under the Credit Agreement secured by such ABL Priority Collateral; 
 (B) to the extent such Net Proceeds
constitute proceeds from the sale of Notes Priority Collateral, to permanently repay, equally and ratably, the Notes and any Permitted Additional Pari Passu Obligations; 

(C) if the assets subject of such Asset Sale do not constitute Collateral, but constitute collateral for other pari passu
Indebtedness, which Lien is permitted by this Indenture, to reduce Obligations under such other pari passu Indebtedness that is secured by such Lien (provided that such reduction, in the case of revolving credit Indebtedness, correspondingly and
permanently reduces commitments thereunder); 

  
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 (D) if the assets subject of such Asset Sale do not constitute Collateral or
collateral for any pari passu Indebtedness, to permanently reduce (or offer to reduce) Obligations under the Notes and other pari passu Indebtedness (and to correspondingly and permanently reduce commitments with respect thereto), provided that the
Issuer shall equally and ratably reduce Obligations under the Notes and any Pari Passu Payment Lien Obligations on a pro rata basis, provided that all reductions of or offers to reduce Obligations under the Notes shall be made pursuant to and in
compliance with Section 3.07 or through open–market purchases (to the extent such purchases are at or above 100.0% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth below for an Asset Sale
Offer) to all Holders to purchase their Notes at 100.0% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes to be repurchased; 

(E) if the assets subject of such Asset Sale are the property or assets of a Restricted Subsidiary of the Issuer that is
not a Guarantor, to permanently reduce Indebtedness of such Restricted Subsidiary (and to correspondingly and permanently reduce commitments with respect thereto), other than Indebtedness owed to the Issuer or another Restricted Subsidiary of the
Issuer; 
 (F) to acquire all or substantially all of the assets of, or any Capital Stock of, another Permitted
Business; provided, that in the case of any such acquisition of Capital Stock, such Person is or becomes a Restricted Subsidiary of the Issuer; 
 (G) to acquire other short– or long–term assets that are not classified as current assets under GAAP and that are used or useful in a Permitted Business; or 

(H) to invest in Additional Assets; or 

(2) enter into a binding commitment to apply the Net Proceeds pursuant to Section 4.08(b)(1)(F), (G) or (H),
provided that such binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment until the earlier of (x) the date on which such acquisition or expenditure is consummated, and
(y) the 180th day following the expiration of the aforementioned 365 day period. 
 In the case of
Section 4.08(b)(1)(F), (G) and (H), the assets acquired with the Net Proceeds from an Asset Sale of assets constituting Collateral (or assets received in exchange therefor pursuant to Section 4.08(a)(2)) shall be pledged as
Collateral under the Security Documents (except that the aggregate Net Proceeds from Asset Sales of assets constituting Collateral (or assets received in exchange therefor pursuant to Section 4.08(a)(2)), taken together with all other Net
Proceeds from Asset Sales of assets constituting Collateral (or assets received in exchange therefor pursuant to Section 4.08(a)(2)) previously excluded, may be excluded from this requirement in an aggregate amount not to exceed the greater of
(x) $40.0 million and (y) 5.0% of Total Assets at the time of the receipt of such Net Proceeds or such exchange. 

  
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 (c) Pending the final application of any Net Proceeds, the Issuer may temporarily reduce
revolving credit borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture. 
 (d)
Any Net Proceeds from Asset Sales that are not applied or invested as provided in Section 4.08(b) will constitute “Excess Proceeds.” Not later than the 366th day (or such later date as permitted by Section 4.08(b)(2))
from the later of the date of such Asset Sale or the receipt of such Net Proceeds, if the aggregate amount of Excess Proceeds exceeds $25.0 million, within ten Business Days thereof, the Issuer will make an offer to all Holders of Notes (an
“Asset Sale Offer”) and (x) in the case of Net Proceeds from Notes Priority Collateral, to the holders of any other Permitted Additional Pari Passu Obligations containing provisions similar to those set forth in this Indenture
with respect to offers to purchase or redeem with the proceeds of sales of assets or (y) in the case of any other Net Proceeds, to all holders of other Pari Passu Payment Lien Obligations containing provisions similar to those set forth in this
Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets to purchase the maximum principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as
appropriate, that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the principal amount plus accrued and unpaid interest, if any, to, but excluding, the date of purchase and will be
payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Issuer or any Restricted Subsidiary of the Issuer may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the
aggregate principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as appropriate, tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the
Notes to be purchased on a pro rata basis. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero. 
 (e) The Issuer will comply with the requirements of Rule 14e–1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable
in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the Asset Sale provisions of this Indenture, the Issuer will comply with the
applicable securities laws and regulations and will not be deemed to have breached its obligations under the Asset Sale provisions of this Indenture by virtue of such compliance. 

(f) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the Issuer
shall deliver to the Trustee an Officer’s Certificate as to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and (iii) the
compliance of such allocation with the provisions of this Section 4.08. Upon the expiration of the period for which the Asset Sale Offer remains open (the “Offer Period”), the Issuer shall deliver to the Trustee for
cancellation the Notes or portions thereof that have been properly tendered to and are to be accepted by the Issuer. No later than one Business Day preceding any date of purchase, the Issuer shall deposit with the Trustee (or a Paying Agent, if not
the Trustee) the purchase price for the tendered Notes and the Trustee (or a Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in

  
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the amount of the purchase price. In the event that the Excess Proceeds delivered by the Issuer to the Trustee is greater than the purchase price of the Notes tendered, the Trustee shall deliver
the excess to the Issuer immediately after the expiration of the Offer Period for application in accordance with this Section 4.08. 
 (g) Holders electing to have a Note purchased shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Note duly completed, to the
Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to the purchase
date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note which was delivered by the Holder for purchase and a statement that such Holder is withdrawing his election to have such
Note purchased. If at the end of the Offer Period more Notes are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase, selection of such Notes for purchase shall be made by the Trustee in compliance with the requirements
of the principal national securities exchange, if any, on which such Notes are listed, or if such Notes are not so listed, on a pro rata basis, by lot or by such other method as the Trustee shall deem fair and appropriate (and in such manner as
complies with applicable legal requirements); provided that no Notes of $2,000 or less shall be purchased in part. 
 (h)
Notices of an Asset Sale Offer shall be mailed by the Issuer by first class mail, postage prepaid, at least 30 but not more than 60 days before the purchase date to each Holder at such Holder’s registered address. If any Note is to be purchased
in part only, any notice of purchase that relates to such Security shall state the portion of the principal amount thereof that is to be purchased. 
 (i) A new Note in principal amount equal to the unpurchased portion of any Note purchased in part shall be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the
purchase date, unless the Issuer defaults in payment of the purchase price, interest shall cease to accrue on Notes or portions thereof purchased. 
 Section 4.09 Transactions with Affiliates. 
 (a) The Issuer will not,
and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any
transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each, an “Affiliate Transaction”), involving aggregate consideration in excess of $10.0 million,
unless: 
 (1) the Affiliate Transaction is on terms that are not materially less favorable to the Issuer or the
relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; and 

(2) the Issuer delivers to the Trustee with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $40.0 million, a resolution of the Board of Directors of the Issuer certifying that 

  
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such Affiliate Transaction complies with this Section 4.09 and that such Affiliate Transaction has been approved by a majority of the disinterested members, if any, of the Board of Directors
of the Issuer. 
 (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to
the provisions of Section 4.09(a) hereof: 
 (1) any employment agreement, employee benefit plan,
officer or director indemnification agreement or any similar arrangement entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of business or consistent with past practice and payments pursuant thereto; 

(2) transactions (including a merger) between or among the Issuer and/or any of its Restricted Subsidiaries; 

(3) transactions with a Person (other than an Unrestricted Subsidiary of the Issuer) that is an Affiliate of the Issuer
solely because the Issuer owns, directly or through a Restricted Subsidiary of the Issuer, an Equity Interest in, or controls, such Person; 
 (4) payment of reasonable fees to, and indemnity provided on behalf of, officers, directors, employees or consultants of the Issuer or any of its Restricted Subsidiaries or any direct or indirect parent
of the Issuer; 
 (5) any contribution to the capital of the Issuer or any issuance of Equity Interests (other
than Disqualified Stock) of the Issuer to Affiliates of the Issuer or to any director, officer, employee or consultant of the Issuer or any direct or indirect parent of the Issuer, and the granting and performance of registration rights; 

(6) Restricted Payments and Investments that do not violate Section 4.05 hereof; 

(7) the entering into any agreement to pay, and the payment of, customary annual management, consulting, monitoring and
advisory fees to the Equity Investors in an amount not to exceed in any four quarter period the greater of (x) $2.5 million and (y) 1.0% of Consolidated Adjusted EBITDA of the Issuer and its Restricted Subsidiaries for such period and
related expenses; 
 (8) loans or advances to employees or consultants in the ordinary course of business or
consistent with past practice; 
 (9) any transaction effected as part of a Qualified Receivables Financing;

 (10) any transaction in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivers
to the Trustee a letter from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or that such transaction meets the
requirements of clause (1) of Section 4.09(a); 
 (11) the existence of, or the performance by the
Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any acquisition agreements or members’ or stockholders’ agreement or related documents to which it is a party as of the Issue Date and any amendment
thereto or similar agreements which it may enter 

  
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into thereafter; provided, however, that the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment to
any such existing agreement or under any similar agreement entered into after the Issue Date shall only be permitted by this clause (11) to the extent that the terms of any such existing agreement, together with all amendments thereto, taken as
a whole, or such new agreement are not otherwise more disadvantageous to the Holders taken as a whole than the original agreement as in effect on the Issue Date; 

(12) transactions with Unrestricted Subsidiaries, customers, clients, suppliers, joint ventures, joint venture partners or
purchasers or sellers of goods or services or lessors or lessees of property, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture which are, in the aggregate (taking into account all the costs
and benefits associated with such transactions), materially no less favorable to the Issuer or its Restricted Subsidiaries than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an
unrelated Person, in the reasonable determination of the Board of Directors of the Issuer or senior management of either of them, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party;

 (13) (x) guarantees of performance by the Issuer and its Restricted Subsidiaries of Unrestricted
Subsidiaries in the ordinary course of business, except for guarantees of Indebtedness in respect of borrowed money, and (y) pledges of Equity Interests of Unrestricted Subsidiaries for the benefit of lenders of Unrestricted Subsidiaries;

 (14) if such Affiliate Transaction is with a Person in its capacity as a holder of Indebtedness or Capital
Stock of the Issuer or any Restricted Subsidiary of the Issuer where such Person is treated no more favorably than the holders of Indebtedness or Capital Stock of the Issuer or any Restricted Subsidiary of the Issuer; 

(15) transactions effected pursuant to agreements in effect on the Issue Date and any amendment, modification or
replacement of such agreement (so long as such amendment or replacement is not materially more disadvantageous to the Holders, taken as a whole); 
 (16) payments to the Equity Investors made for any financial advisory, financing or other investment banking activities, including without limitation, in connection with acquisitions or divestitures,
which payments are approved by a majority of the Board of Directors; 
 (17) the Transactions and the payment of
all fees and expenses related to the Transactions, in each case, as contemplated in the Offering Document; 

(18) intellectual property licenses in the ordinary course of business; 

(19) Permitted Liens of the type described in clause (14)(B) of the definition of “Permitted Liens” granted
in favor of an MTBE Subsidiary or Permitted MTBE Joint Venture; 
 (20) the MLP Formation Transactions;

  
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 (21) transactions with any MLP Subsidiary if approved by the MLP’s
conflicts committee; and 
 (22) transactions between the Issuer or any of its Restricted Subsidiaries and any
Person, a director of which is also a director of the Issuer; provided, however, that such director abstains from voting as a director of the Issuer on any matter involving such other Person. 

Section 4.10 Liens. 

(a) The Issuer will not, and will not permit any Restricted Subsidiary of the Issuer to, directly or indirectly, create, incur or assume
any Lien (other than Permitted Liens) on any asset or property of the Issuer or such Restricted Subsidiary that secures any Indebtedness of the Issuer or such Restricted Subsidiary or any related Guarantees, except that the Issuer and any Restricted
Subsidiary of the Issuer may incur or suffer to exist Liens on assets not constituting Collateral, so long as the Issuer or such Restricted Subsidiary effectively provides that the Notes or the applicable Note Guarantee, as the case may be, shall be
equally and ratably secured with (or on a senior basis to, in the case such Lien secures any Indebtedness that is contractually subordinated in right of payment to the Notes or the applicable Note Guarantee) the Indebtedness or related Guarantees
secured by such Lien. 
 (b) Section 4.10(a) will not require the Issuer or any Restricted Subsidiary of the Issuer to
secure the Notes if the relevant Lien consists of a Permitted Lien. Any Lien which is granted to secure the Notes or such Note Guarantee under Section 4.10(a) shall be automatically released and discharged at the same time as the release of the
Lien that gave rise to the obligation to secure the Notes or such Note Guarantee under Section 4.10(a). 
 Section 4.11 Business
Activities. 
 The Issuer will not, and will not permit any of its Restricted Subsidiaries to, engage in any business other
than Permitted Businesses, except to such extent as would not be material to the Issuer and its Restricted Subsidiaries taken as a whole. 

Section 4.12 Offer to Repurchase Upon Change of Control. 
 (a) Upon the occurrence of a Change of Control, the Issuer will make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral
multiple of $1,000 in excess of $2,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not
including, the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date (the “Change of Control Payment”). Within 30 days following any Change of
Control, except to the extent that the Issuer has exercised its right to redeem the Notes in accordance with Article 3 of this Indenture, the Issuer will mail a notice to each Holder describing the transaction or transactions that constitute the
Change of Control and stating: 
 (1) that the Change of Control Offer is being made pursuant to this
Section 4.12 and that all Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment; 

  
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 (2) the purchase price and the purchase date, which shall be no earlier than
30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
 (3) that any Note not tendered will continue to accrue interest; 

(4) that, unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender
the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book–entry transfer, to the Trustee at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date; 
 (6) that Holders will be entitled to withdraw
their election if the Trustee receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the
principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 
 (7) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be
equal to $2,000 in principal amount or an integral multiple of $1,000 in excess of $2,000. 
 The Issuer will comply with the
requirements of Rule 14e–1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of
Control. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.12 hereof, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have
breached its obligations under this Section 4.12 by virtue of such compliance. 
 (b) On the Business Day immediately
preceding the Change of Control Payment Date, the Issuer will, to the extent lawful, deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes accepted for payment. 

  
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 (c) On the Change of Control Payment Date, the Issuer will, to the extent lawful:

 (1) accept for payment all Notes or portions of Notes (in a minimum principal amount of $2,000 and integral
multiples of $1,000 in excess of $2,000) properly tendered pursuant to the Change of Control Offer and not properly withdrawn; and 
 (2) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being
purchased by the Issuer. 
 The Paying Agent will promptly mail to each Holder properly tendered the Change of Control Payment
for such Notes, and the Trustee, upon receipt of an Authentication Order, will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided, that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess of $2,000. The Issuer will publicly announce the results of the Change of Control Offer on or as soon as
reasonably practicable after the Change of Control Payment Date. 
 (d) If Holders of not less than 90% in aggregate principal
amount of the outstanding Notes validly tender and do not withdraw such Notes in a Change of Control Offer and the Issuer, or any other Person making a Change of Control Offer in lieu of the Issuer as described below, purchases all of the Notes
validly tendered and not withdrawn by such Holders, the Issuer shall have the right, upon not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following such purchase pursuant to the Change of Control Offer
described above, to redeem all Notes that remain outstanding following such purchase at a redemption price in cash equal to the applicable Change of Control Payment plus, to the extent not included in the Change of Control Payment, accrued and
unpaid interest, if any, to the date of redemption (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

(e) Notwithstanding anything to the contrary in this Section 4.12, the Issuer will not be required to make a Change of Control Offer
upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.12 and purchases all Notes properly tendered and not
withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to Section 3.03 hereof, unless and until there is a default in payment of the applicable redemption price. 

(f) The Issuer’s obligation to make a Change of Control Offer pursuant to this Section 4.12 may be waived or modified or
terminated with the written consent of the Holders of a majority in principal amount of the Notes then outstanding (including consents obtained in connection with a tender offer or exchange offer for the Notes) prior to the occurrence of such Change
of Control. 
 Section 4.13 Payments for Consent. 
 The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any cash consideration to or for the benefit of any Holder for any consent,
waiver or amendment of any of the terms or provisions of this Indenture, 

  
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the Notes, or the Security Documents unless such consideration is offered to be paid and is paid to all Holders that are QIBs and that consent, waive or agree to amend in the time frame set forth
in the solicitation documents relating to such consent, waiver or agreement. 
 Section 4.14 Additional Note Guarantees. 

If the Issuer or any of its Restricted Subsidiaries acquires or creates another Restricted Subsidiary of the Issuer that is a Domestic
Subsidiary after the Issue Date, then that newly acquired or created Restricted Subsidiary, if such Restricted Subsidiary Guarantees any Credit Facilities of the Issuer (unless such Restricted Subsidiary is a Receivables Subsidiary), will become a
Guarantor and execute a supplemental indenture substantially in the form of Exhibit D hereto and the applicable Security Documents or joinders or supplements thereto and deliver an Opinion of Counsel satisfactory to the Trustee within 30 days of the
date on which it was acquired or created; provided that this Section 4.14 shall not be applicable to any Guarantee of any Restricted Subsidiary of the Issuer that existed at the time such Person became a Restricted Subsidiary of the
Issuer and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary of the Issuer. 

Section 4.15 Designation of Restricted and Unrestricted Subsidiaries. 

(a) The Board of Directors of the Issuer may designate any Restricted Subsidiary of the Issuer to be an Unrestricted Subsidiary if that
designation would not cause a Default. If a Restricted Subsidiary of the Issuer is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Issuer and its Restricted Subsidiaries in the
Subsidiary designated as an Unrestricted Subsidiary will be deemed to be an Investment made as of the time of the designation and will reduce the amount available for Restricted Payments under Section 4.05 hereof or under one or more clauses of
the definition of Permitted Investments, as determined by the Issuer. That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted
Subsidiary. The Board of Directors of the Issuer may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if that redesignation would not cause a Default. 
 (b) Any designation of a Subsidiary of the Issuer as an Unrestricted Subsidiary will be evidenced to the Trustee by filing with the Trustee a certified copy of a resolution of the Board of Directors
giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the preceding conditions and was permitted by Section 4.05 hereof. If, at any time, any Unrestricted Subsidiary would fail to
meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary
of the Issuer as of such date and, if such Indebtedness is not permitted to be incurred as of such date under Section 4.07 hereof, the Issuer will be in default of such covenant. The Board of Directors of the Issuer may at any time designate
any Unrestricted Subsidiary to be a Restricted Subsidiary of the Issuer; provided that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Issuer of any outstanding Indebtedness of such
Unrestricted Subsidiary, and such designation will only be permitted if (1) (x) the Issuer could incur such Indebtedness 

  
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pursuant to Section 4.07(a) hereof, or (y) the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio for the
Issuer and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation; and (2) no Default or Event of Default would be in existence following such designation.

 Section 4.16 Changes in Covenants upon Notes being Rated Investment Grade. 

(a) During any period of time and beginning on the day that (a) the Notes have an Investment Grade Rating and (b) no Default or
Event of Default has occurred and is continuing under this Indenture, the Issuer and its Restricted Subsidiaries will not be subject to the covenants contained in Sections 4.05, 4.06, 4.07, 4.08, 4.09, 4.11 and 4.15 hereof, and
Section 5.01(a)(4) shall terminate. If the Issuer and its Restricted Subsidiaries are not subject to these covenants for any period of time as a result of the previous sentence (a “Fall–Away Period”) and,
subsequently, the ratings assigned to the Notes are withdrawn or downgraded so the Notes no longer have an Investment Grade Rating or an Event of Default (other than with respect to a suspended covenant) occurs and is continuing, then the Issuer and
its Restricted Subsidiaries will thereafter again be subject to these covenants. The ability of the Issuer and its Restricted Subsidiaries to make Restricted Payments after the time of such withdrawal, downgrade or Event of Default will be
calculated as if the covenant governing Restricted Payments had been in effect during the entire period of time from the Issue Date. Notwithstanding the foregoing, the continued existence after the end of the Fall–Away Period of facts and
circumstances or obligations arising from transactions that occurred during a Fall–Away Period shall not constitute a breach of any covenant set forth in this Indenture or cause an Event of Default hereunder. 

(b) Neither the Trustee nor any Agent shall have any liability or responsibility with respect to, or obligation or duty to monitor,
determine or inquire (i) as to the Issuer’s or any Guarantor’s compliance with any covenant under this Indenture (other than the covenant to make payment on the Notes), (ii) as to whether or not the rating of the Notes has been
adjusted, or (iii) as to whether or not a Fall–Away Period has occurred or is continuing. 
 Section 4.17 Further Assurances,
Instruments and Acts. 
 (a) The Issuer shall execute and deliver such further instruments and do such further acts as may be
reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 (b) The Issuer and the Guarantors
shall execute and deliver such additional instruments, certificates or documents, and take all such actions as may be reasonably required from time to time in order to: 

(1) carry out more effectively the purposes of the Security Documents; 

(2) create, grant, perfect and maintain the validity, effectiveness and priority of any of the Security Documents and the
Liens created, or intended to be created, by the Security Documents; and 

  
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 (3) ensure the protection and enforcement of any of the rights granted or
intended to be granted to the Trustee under any other instrument executed in connection therewith. 
 Section 4.18 Real Property.

 The Issuer shall notify the Collateral Agent in writing within 30 days after the acquisition of any real property owned by the
Issuer or any Guarantor that has a fair market value in excess of $5,000,000 that is not subject to the existing Mortgages (the “After–Acquired Real Property”), and, within 180 days after the acquisition of such owned real
property, as such date may be extended by the Collateral Agent, deliver to the Collateral Agent, with respect to such owned real property, each of the documents described in Section 4.19 hereof (but excluding the documents described in clause
(h) thereof) and such other documents as may be reasonably requested by the Collateral Agent to evidence the Liens contemplated by this Indenture and the Mortgages. 
 Section 4.19 Post-Closing Matters. 
 The Issuer and the Guarantors
shall deliver to the Collateral Agent within 180 days after the Closing Date, to the extent not previously provided, each of the following documents, which shall be reasonably satisfactory in form and substance to the Collateral Agent and its
counsel with respect to the Notes Priority Collateral, as appropriate: 
 (a) Mortgages. With respect to each Mortgaged
Property, counterparts of a Mortgage, together with the assignments of leases and rents referred to therein, in proper form for recording in the appropriate recording office of the political subdivision where such Mortgaged Property is located, duly
executed and acknowledged by the Issuer or the applicable Guarantor effective to create a valid and enforceable first-priority (with respect to Notes Priority Collateral) mortgage Lien, subject to no Liens other than Permitted Liens, on each
Mortgaged Property, except to the extent such Mortgaged Property is located in a jurisdiction which imposes mortgage recording taxes, intangible taxes, documentary taxes or other similar fees and charges, the subject Mortgage shall only secure an
amount equal to the fair market value of such Mortgaged Property as reasonably determined, in good faith, by the Issuer and reasonably acceptable to the Collateral Agent, and such financing statements in respect of such Mortgage, any other
instruments necessary to grant the interests purported to be granted by such Mortgage (and to record such Mortgage in the appropriate recording offices) under the laws of any applicable jurisdiction. 

(b) Title Insurance. With respect to each Mortgage encumbering any Mortgaged Property, a policy of title insurance (or commitment
to issue such a policy) in an amount not to exceed the fair market value of such Mortgaged Property as reasonably determined, in good faith, by the Issuer and reasonably acceptable to the Collateral Agent (such policies collectively, the
“Mortgage Policies”) issued by any title insurance company reasonably acceptable to the Collateral Agent (the “Title Company”), insuring (or committing to insure) that such Mortgage constitutes a valid and
enforceable first-priority (with respect to Notes Priority Collateral) mortgage Lien on the respective Mortgaged Property, free and clear of all Liens other than Permitted Liens, which Mortgage Policies shall (A) not include the general title
exception for mechanics’ liens, (B) provide for such affirmative insurance as the 

  
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Collateral Agent may reasonably request and which is available in the applicable jurisdiction at commercially reasonable rates and (C) otherwise be in form and substance reasonably
satisfactory to the Collateral Agent. 
 (c) Surveys. With respect to each Mortgaged Property, the Issuer shall deliver
either an as-built ALTA survey certified to the Collateral Agent for its benefit, for the benefit of the Trustee, for the benefit of the Holders and for the benefit of the Title Company prepared by an independent professional licensed land surveyor
or an affidavit of “no change” executed by the Issuer with respect to any existing survey, sufficient for the Title Company to delete the survey exception and issue a “same-as-survey” endorsement to the Mortgage Policies to the
extent such endorsement is available in the relevant jurisdiction at commercially reasonable rates. 
 (d) Fixture
Filings. With respect to each Mortgaged Property, to the extent the Mortgages are not sufficient to qualify as a fixture filing under applicable laws of the jurisdiction, a copy of a filed UCC-1 in the jurisdiction in which such Mortgaged
Property is located in order to perfect the Lien on and security interest in the fixtures encumbered by the applicable Mortgage in favor of the Collateral Agent for its benefit and the benefit of the Trustee and the Holders. 

(e) Flood Hazard Determinations and Insurance. With respect to each Mortgaged Property, subject to the Flood Insurance Laws (as
defined below), a “Life-of Loan” Federal Emergency Management Agency Standard Flood Hazard Determination and, if the area in which any Building (as defined in the Flood Insurance Laws) is located on any Mortgaged Property is designated a
“special flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), a notice with respect to special flood hazard area status, duly executed by the Issuer and, to the
extent required, the applicable Subsidiary and evidence of flood insurance, naming the Collateral Agent for its benefit and the benefit of the Trustee and the Holders as mortgagee/loss payee to the extent (including with respect to amounts) required
in order to comply with the Flood Insurance Laws. “Flood Insurance Laws” means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood
Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood
Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto 
 (f) Title Insurance
Documents. With respect to each Mortgaged Property, such affidavits, certificates, information and instruments as shall be reasonably and customarily required to induce the Title Company to issue the Mortgage Policies. 

(g) Collateral Fees and Expenses. Evidence reasonably acceptable to the Collateral Agent of payment by the Issuer of all search
and examination charges, escrow charges and related charges, title insurance premiums, filing, documentary, stamp, intangible and mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgages, fixture
filings and issuance of the Mortgage Policies and endorsements required pursuant to clause (b) above. 

  
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 (h) Release of Existing Mortgages. Release the lien with respect to each existing
mortgage, deed of trust and deed to secure debt encumbering each Mortgaged Property. 
 (i) Real Estate Opinion Letter.
The opinion of counsel to the Issuer in the jurisdiction in which a Mortgaged Property is located, dated as of the date of the Mortgages and addressed to the Representative, the Trustee and the Collateral Agent, in form and substance reasonably
satisfactory to the Representative, relating to the enforceability of the Mortgages. 
 Section 4.20 Notification. 

In the event that any Permitted Additional Pari Passu Obligations are incurred following the date hereof, the Issuer shall notify the
Collateral Agent thereof in writing and take all such action as may be reasonably required to amend each then existing Mortgage and endorse each then existing Mortgage Policy (to the extent such endorsements are available in the applicable
jurisdiction at commercially reasonable rates) in order to appropriately ensure that such Permitted Additional Pari Passu Obligations are secured equally and ratably with the Note Obligations, including delivering such opinions of local counsel in
each jurisdiction in which any Mortgaged Property is located as Collateral Agent reasonably requests, covering the mortgages as amended. 
 ARTICLE 5 
 SUCCESSORS 
 Section 5.01 Consolidation, Amalgamation, Merger, or Sale of Assets. 

(a) The Issuer will not, directly or indirectly: (i) consolidate, amalgamate or merge with or into another Person; or (ii) sell,
assign, transfer, convey or otherwise dispose of all or substantially all of the Issuer’s properties or assets (determined on a consolidated basis for the Issuer and its Restricted Subsidiaries) in one or more related transactions to another
Person, unless: 
 (1) either: 

(A) the Issuer is the surviving entity; or 

(B) the Person formed by or surviving any such consolidation or merger (if other than the Issuer) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a corporation, partnership (including a master limited partnership) or limited liability company organized or existing under the laws of the United States, any state of the
United States or the District of Columbia; 
 (2) the Person formed by or surviving any such consolidation or
merger (if other than the Issuer) or the Person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Issuer under the Notes, this Indenture and the Security Documents pursuant to
agreements reasonably satisfactory to the Trustee; 

  
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 (3) immediately after such transaction, no Default or Event of Default
exists; 
 (4) either: 
 (A) the Issuer or the Person formed by or surviving any such consolidation or merger (if other than the Issuer), or to which such sale, assignment, transfer, conveyance or other disposition has been made
would, on the date of such transaction after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the applicable four–quarter period be permitted to incur at least $1.00 of
additional Indebtedness pursuant to Section 4.07(a) hereof; or 
 (B) the Fixed Charge Coverage Ratio
for the successor entity and its Restricted Subsidiaries would not be less than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; 

(5) the successor entity causes such amendments, supplements or other instruments to be executed, delivered, filed and
recorded, as applicable, in such jurisdictions as may be required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or transferred to the successor entity; 

(6) the Collateral owned by or transferred to the successor entity shall (a) continue to constitute Collateral under
this Indenture and the Security Documents, (b) be subject to the Lien in favor of the Collateral Agent for the benefit of the Trustee and the Holders, and (c) not be subject to any Lien other than Permitted Liens; and 

(7) the property and assets of the Person which is merged or consolidated with or into the successor entity, to the extent
that they are property or assets of the types which would constitute Collateral under the Security Documents, shall be treated as after-acquired property and the successor entity shall take such action as may be reasonably necessary to cause such
property and assets to be made subject to the Lien of the Security Documents in the manner and to the extent required in this Indenture. 
 (b) The Issuer shall not, directly or indirectly, lease all or substantially all of the properties and assets of it and its Restricted Subsidiaries taken as a whole, in one or more related transactions,
to any other Person. 
 (c) Clause (4) of Section 5.01(a) will not apply to: 

(1) any MLP Formation Transactions; and 

(2) any MLP Drop-Down. 
 (d) This Section 5.01 will not apply to: 
 (1) a merger of the
Issuer with an Affiliate solely for the purpose of reincorporating the Issuer under the laws of Canada or any province or territory thereof or the United States, any state of the United States or the District of Columbia; 

  
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 (2) any consolidation, amalgamation, merger, or any sale, assignment,
transfer, conveyance, lease or other disposition of assets between or among the Issuer and any Guarantor; and 

(3) any transaction contemplated by the Merger Agreement. 
 Section 5.02 Successor Substituted. 
 Upon any consolidation or merger,
or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties or assets of the Issuer, in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof,
the successor Person formed by such consolidation or into or with which the Issuer is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after
the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Issuer” shall refer instead to the successor Person and not to the Issuer), and
may exercise every right and power of the Issuer under this Indenture with the same effect as if such successor Person had been named as the Issuer herein; provided, however, that the Issuer shall not be relieved from the obligation to
pay the principal of and interest on the Notes except in the case of a sale of all or substantially all of the Issuer’s properties or assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01
hereof. 
 Section 5.03 Evidence to Be Given to Trustee. 
 No consolidation, merger, sale, conveyance, transfer or lease shall be effective unless the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any
such consolidation, merger, sale, conveyance, transfer or lease and any such assumption and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, complies with the provisions of this Article 5.

 ARTICLE 6 
 DEFAULTS AND REMEDIES 
 Section 6.01 Events of Default. 

Each of the following is an “Event of Default”: 

(1) default for 30 days in the payment when due of interest on the Notes; 

(2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any,
on, the Notes; 
 (3) failure by the Issuer or any of the Issuer’s Restricted Subsidiaries for 60 days (or
180 days in the case of a Reporting Failure) after notice to the Issuer by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the other agreements in
this Indenture or the Security Documents; 

  
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 (4) default under any mortgage, indenture or instrument under which there
may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Issuer or any of the Issuer’s Restricted Subsidiaries that are Significant Subsidiaries or any group of the Issuer’s Restricted
Subsidiaries that taken as a whole would constitute a Significant Subsidiary of the Issuer (or the payment of which is guaranteed by the Issuer or any of the Issuer’s Restricted Subsidiaries), whether such Indebtedness or Guarantee now exists,
or is created after the Issue Date (but excluding Indebtedness owing to the Issuer or a Restricted Subsidiary of the Issuer), if that default: 
 (A) is caused by a failure to pay principal on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness following the Stated Maturity of such Indebtedness (a
“Payment Default”); or 
 (B) results in the acceleration of such Indebtedness prior to its
Stated Maturity, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated,
aggregates $35.0 million or more; 
 (5) failure by the Issuer or any of the Issuer’s Restricted
Subsidiaries that are Significant Subsidiaries, or any group of the Issuer’s Restricted Subsidiaries that taken as a whole would constitute a Significant Subsidiary, to pay final and non–appealable judgments entered by a court or courts of
competent jurisdiction aggregating in excess of $35.0 million (net of any amounts which are covered by insurance or bonded), which judgments are not paid, waived, satisfied, discharged or stayed for a period of 60 days; 

(6) the Issuer or any of the Issuer’s Restricted Subsidiaries that is a Significant Subsidiary or any group of the
Issuer’s Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: 
 (A) commences a voluntary case, or proceeding (including the filing of a notice of intention in respect thereof), 
 (B) consents to the entry of an order for relief against it in an involuntary case or proceeding, 
 (C) consents to the appointment of a custodian, receiver, receiver–manager, administrative receiver, administrator, liquidator, trustee, liquidation custodian, sequestrator, conservator, or similar
official of it or for all or substantially all of its property, or 
 (D) makes a general assignment for the
benefit of its creditors. 

  
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 (7) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (A) is for relief against the Issuer or any of the Issuer’s Restricted Subsidiaries
that is a Significant Subsidiary or any group of the Issuer’s Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary in an involuntary case or proceeding; 

(B) appoints a custodian, receiver, receiver–manager, administrative receiver, administrator, liquidator, trustee,
liquidation custodian, sequestrator, conservator, or similar official of the Issuer or any of the Issuer’s Restricted Subsidiaries that is a Significant Subsidiary or any group of the Issuer’s Restricted Subsidiaries that, taken together,
would constitute a Significant Subsidiary or for all or substantially all of the property of the Issuer or any of the Issuer’s Restricted Subsidiaries that is a Significant Subsidiary or any group of the Issuer’s Restricted Subsidiaries
that, taken together, would constitute a Significant Subsidiary; or 
 (C) orders the liquidation, winding up, or
dissolution or a suspension of payments against the Issuer or any of the Issuer’s Restricted Subsidiaries that is a Significant Subsidiary or any group of the Issuer’s Restricted Subsidiaries that, taken together, would constitute a
Significant Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days; 

(8) except as permitted by this Indenture, any Note Guarantee of any Restricted Subsidiary of the Issuer that is a
Significant Subsidiary or any group of the Issuer’s Restricted Subsidiaries that taken as a whole would constitute a Significant Subsidiary of the Issuer is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason
to be in full force and effect (other than in accordance with the terms of such Note Guarantee and this Indenture), or any Guarantor, or any Person acting on behalf of any such Guarantor, denies or disaffirms its obligations under its Note Guarantee
and such Default continues for ten days; 
 (9) any (x) Security Document governing a security interest with
respect to any Collateral having a Fair Market Value in excess of $35.0 million or (y) obligation under the Security Documents of the Issuer or any of the Issuer’s Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of the Issuer that, taken together as of the latest audited consolidated financial statements for the Issuer and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in full force and effect
(except as contemplated by the terms of this Indenture and the Note Guarantees and except for the failure of any security interest with respect to the Collateral to remain in full force and effect, which is governed by clause
(10) below) or is declared null and void in a judicial proceeding or the Issuer or any Guarantor that is a Significant Subsidiary or group of Guarantors that taken together as of the latest audited consolidated financial statements of the
Issuer and its Restricted Subsidiaries would constitute a Significant Subsidiary denies or disaffirms its obligations under this Indenture, its Note Guarantee or any Security Document and the Issuer fails to cause such Guarantor or Guarantors, as
the case may be, to rescind such denials or disaffirmations within 60 days; 

  
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 (10) with respect to any Collateral having a Fair Market Value in excess of
$35.0 million, individually or in the aggregate, (A) the failure of the security interest with respect to such Collateral under the Security Documents, at any time, to be in full force and effect for any reason other than in accordance with
their terms and the terms of this Indenture and other than the satisfaction in full of all obligations under this Indenture and discharge of this Indenture if such failure continues for 60 days or (B) the declaration that the security interest
with respect to such Collateral created under the Security Documents or under this Indenture is invalid or unenforceable, if such Default continues for 60 days or (C) the assertion by the Issuer or any Guarantor, in any pleading in any court of
competent jurisdiction, that any such security interest is invalid or unenforceable. 
 Section 6.02 Acceleration. 

(a) In the case of an Event of Default specified in clause (6) or (7) of Section 6.01 hereof, with respect to the Issuer or
any Restricted Subsidiary of the Issuer that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary, all outstanding Notes will become due and payable
immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and
payable immediately. Upon any such declaration, the Notes shall become due and payable immediately. 
 (b) In the event of any
Event of Default specified in clause (4) of Section 6.01, such Event of Default and all consequences thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded, automatically and without any action
by the Trustee or the Holders, if within 20 days after such Event of Default arose the Issuer delivers an Officer’s Certificate to the Trustee stating that (x) the Indebtedness or Guarantee that is the basis for such Event of Default has
been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has been cured,
it being understood that in no event shall an acceleration of the principal amount of the Notes as described in this Section 6.02 be annulled, waived or rescinded upon the happening of any such events. 

Section 6.03 Other Remedies. 
 (a) If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium and interest on the Notes or to enforce the performance of any
provision of the Notes, Note Guarantees or this Indenture, including giving instructions to the Collateral Agent to take enforcement action in accordance with the terms of the Security Documents. 

(b) The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding.
A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative
to the extent permitted by law. 

  
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 Section 6.04 Waiver of Past Defaults. 

Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on
behalf of the Holders of all of the Notes, rescind an acceleration or waive an existing Default or Event of Default and its consequences hereunder except a continuing Default or Event of Default in the payment of interest or premium on, or the
principal of, the Notes. Upon any such rescission or waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon. 
 Section 6.05 Control by Majority. 

Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be
unduly prejudicial to the rights of other Holders or that may involve the Trustee in personal liability. 
 Section 6.06 Limitation on
Suits. 
 (a) A Holder may pursue a remedy with respect to this Indenture or the Notes only if: 

(1) such Holder has previously given the Trustee written notice that an Event of Default is continuing; 

(2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee in
writing to pursue the remedy; 
 (3) such Holder or Holders offer and, if requested, provide to the Trustee
security or indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee does
not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (5) during such 60–day period, Holders of a majority in aggregate principal amount of the then outstanding Notes do not give the Trustee a written direction inconsistent with such request.

 (b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over
another Holder. 
 Section 6.07 Rights of Holders to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal, premium, if any, and
interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired
or affected without the consent of such Holder. 

  
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 Section 6.08 Collection Suit by Trustee. 

If an Event of Default specified in clauses (1) or (2) of Section 6.01 hereof occurs and is continuing, the Trustee is
authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

Section 6.09 Trustee or Collateral Agent May File Proofs of Claim. 

The Trustee or the Collateral Agent is authorized to file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee or the Collateral Agent (including any claim for the compensation, expenses, disbursements and advances of the Trustee or the Collateral Agent, their agents and counsel) and the Holders allowed in
any judicial proceedings relative to the Issuer (or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any
such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee or the Collateral Agent, and in the event that the Trustee shall consent to the making of such payments directly
to the Holders, to pay to the Trustee or the Collateral Agent any amount due to it for the reasonable and documented compensation, expenses, disbursements and advances of the Trustee or the Collateral Agent, their agents and counsel, and any other
amounts due the Trustee or the Collateral Agent under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee or the Collateral Agent, their agents and counsel, and any
other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends,
money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the
Trustee or the Collateral Agent to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee or
the Collateral Agent to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.10 Priorities. 

(a) If the Trustee collects any money pursuant to this Article 6, it shall, subject to the Intercreditor Agreement (to the extent
applicable), pay out the money in the following order: 
 First: to the Trustee, the Collateral Agent, and each of their
respective agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the Collateral Agent and the costs and expenses of
collection; 
 Second: to Holders for amounts due and unpaid on the Notes for principal, premium and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium and interest, respectively; and 
 Third: to the Issuer or to such party as a court of competent jurisdiction shall direct in writing. 
 (b) The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 
 Section 6.11 Undertaking for Costs. 
 In any suit for the enforcement
of any right or remedy under this Indenture or in any suit against the Trustee or the Collateral Agent for any action taken or omitted by it as a Trustee or the Collateral Agent, a court in its discretion may require the filing by any party litigant
in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses against any party litigant in the suit, having due regard to the merits
and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee or the Collateral Agent, a suit by a Holder pursuant to Section 6.07 hereof, or a suit by Holders of more than
10% in aggregate principal amount of the then outstanding Notes. 
 ARTICLE 7 

TRUSTEE 
 Section 7.01
Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the
rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, with respect to certificates or opinions specifically required by any provision
hereof to be furnished to it, the Trustee will 

  
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examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations
or other facts stated therein). 
 (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (1) this Section 7.01(c) does
not limit the effect of Section 7.01(b); 
 (2) the Trustee will not be liable for any error of judgment
made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Sections 6.04 and 6.05 hereof, relating to
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Notes. 

(d) No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. 

(e) The Trustee will not be liable for interest on or the investment of any money received by it except as the Trustee may agree in
writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (f) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to Section 7.01. 

Section 7.02 Rights of Trustee. 
 (a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper Person. 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel of its own selection and the advice of such counsel or any
Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct, negligence or failure to act of
any attorney or agent appointed with due care. 

  
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 (d) The Trustee will not be liable for any action it takes, suffers or omits to take in good
faith that it believes to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 (e)
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer or any Guarantor, as applicable, will be sufficient if signed by an Officer of the Issuer or such Guarantor, as applicable.

 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture or the
Security Documents at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against the losses, liabilities and expenses that might be incurred by it in compliance
with such request or direction. 
 (g) In no event shall the Trustee be responsible or liable for special, indirect, punitive,
or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has
actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder as Collateral Agent, Registrar and Paying Agent, and each Agent, custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Issuer and each Guarantor deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s Certificate, including any Person
specified as so authorized in any such certificate previously delivered and not superseded. 
 (k) Notwithstanding any provision
herein to the contrary, in no event shall the Trustee be liable for any failure or delay in the performance of its obligations under this Indenture because of circumstances beyond its control, including, but not limited to, nuclear or natural
catastrophes or acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes or work stoppages for any reason, embargo, government action, including any laws, ordinances, regulations or the like which restrict or prohibit
the providing of the services contemplated by this Indenture, inability to obtain material, equipment, or communications or computer (software and hardware) facilities, or the failure of equipment or interruption of utilities, communications or
computer (software and hardware) facilities, and other causes beyond its control whether or not of the same class or kind as specifically named above. 
 (l) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,

  
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request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or
attorney at the sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
 (m) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 
 Section 7.03 Individual Rights of Trustee. 
 The Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with either Issuer or any Guarantor or any Affiliate of either Issuer or any Guarantor with the same rights it would have if it were not Trustee.
However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent
may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 
 Section 7.04
Trustee’s Disclaimer. 
 The Trustee will not be responsible for and makes no representation as to the validity or
adequacy of any offering materials, this Indenture, the Notes or any Note Guarantee, it shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any
provision of this Indenture, it will not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes,
any Note Guarantee or any other document in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication. 
 Section 7.05 Notice of Defaults. 
 If a Default or Event of Default
occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of,
premium, if any, or interest on, any Note, the Trustee may and shall be protected in withholding the notice if and so long as it in good faith determines that withholding the notice is in the interests of the Holders. 

Section 7.06 Reports by Trustee to Holders. 
 Within 60 days after each June 15 beginning with the June 15 following the Issue Date, and for so long as Notes remain outstanding, the Trustee will mail to the Holders a brief report dated as
of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the 12 months preceding the reporting date, no report need be transmitted). The Trustee also will
comply with TIA § 313(b). The Trustee will also transmit by mail all reports as required by TIA § 313(c). 

  
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 Section 7.07 Compensation and Indemnity. 

(a) The Issuer will pay to each of the Trustee and the Collateral Agent from time to time such compensation, as agreed in writing from
time to time, for its acceptance and administration of this Indenture, the Intercreditor Agreement and/or the other the Security Documents and services hereunder. The Trustee’s and the Collateral Agent’s compensation will not be limited by
any law on compensation of a trustee of an express trust. The Issuer will reimburse each of the Trustee and the Collateral Agent promptly upon request for all reasonable and documented disbursements, advances and expenses incurred or made by it in
addition to the compensation for its services. Such expenses will include the reasonable and documented compensation, disbursements and expenses of each of the Trustee’s and the Collateral Agent’s agents and counsel. 

(b) The Issuer and each Guarantor, jointly and severally, will indemnify each of the Trustee and the Collateral Agent and hold each of
them harmless from and against any and all losses, liabilities, claims, damages, costs or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties or the exercise of its rights under this Indenture,
the Intercreditor Agreement and/or the other the Security Documents, including the reasonable and documented costs and expenses of enforcing this Indenture, the Intercreditor Agreement and/or the other the Security Documents against the Issuer and
the Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the Issuer, the Guarantors, any Holder or any other Person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its own gross negligence or willful misconduct. The Trustee or the Collateral Agent, as the case may be, will notify the Issuer promptly of
any claim of which it or a Responsible Officer has received written notice for which it may seek indemnity. Failure by the Trustee or the Collateral Agent, as the case may be, to so notify the Issuer will not relieve the Issuer or any of the
Guarantors of their obligations hereunder. 
 (c) The obligations of the Issuer and the Guarantors under this Section 7.07
will survive the satisfaction and discharge of this Indenture, the payment of the Notes and/or the resignation or removal of the Trustee or the Collateral Agent. 
 (d) To secure the Issuer’s and the Guarantors’ payment obligations in this Section 7.07, each of the Trustee and the Collateral Agent will have a Lien prior to the Notes on all money or
property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture, the payment of the Notes and/or the resignation or
removal of the Trustee or the Collateral Agent. 
 (e) When the Trustee or the Collateral Agent incurs expenses or renders
services after an Event of Default specified in clause (6) or (7) of Section 6.01 hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute
expenses of administration under any Bankruptcy Law. 

  
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 (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the
extent applicable. 
 Section 7.08 Replacement of Trustee. 
 (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.08. 
 (b) The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the
Issuer in writing. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing not less than 30 days prior to the effective date of such removal.
The Issuer may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof;

 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the
Trustee under any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its
property; or 
 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint
a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuer. 
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the
retiring or removed Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor
Trustee. 
 (e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to
comply with Section 7.10 hereof, such Holder may petition at the expense of the Issuer any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been 

  
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paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under
Section 7.07 hereof will continue for the benefit of the retiring Trustee. 
 (g) The retiring Trustee shall have no
responsibility or liability for any action or inaction of a successor Trustee. 
 Section 7.09 Successor Trustee by Merger, etc.

 If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business
(including this transaction) to, another corporation, the successor corporation without any further act will be the successor Trustee. 

Section 7.10 Eligibility; Disqualification. 
 There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws
to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $50.0 million as set forth in its most recent published annual report of
condition. 
 This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA§ 310(b). 
 Section 7.11 Preferential Collection of Claims Against the
Issuer. 
 The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA
§ 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE 8 
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Issuer may at any time, at the option of the Issuer’s Board of Directors evidenced by a resolution set forth in an Officer’s
Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes and Note Guarantees upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge. 
 (a) Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer and each of the Guarantors will, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes (including the Note Guarantees) on the date the conditions set forth below are satisfied (hereinafter,
“Legal 

  
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Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding Notes (including the Note Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and
(2) below, and to have satisfied all their other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on written demand of and at the expense of the Issuer, shall execute instruments acknowledging the same),
except for the following provisions which will survive until otherwise terminated or discharged hereunder: 
 (1)
the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.05 hereof; 

(2) the Issuer’s obligations with respect to such Notes under Sections 2.02, 2.03, 2.04, 2.05, 2.06, 2.07, 2.08,
2.09, 2.10 and Section 4.02 hereof; 
 (3) the rights, powers, trusts, duties and immunities of the Trustee
hereunder and the Issuer’s and the Guarantors’ obligations in connection therewith; and 
 (4) this
Article 8. 
 (b) Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02
notwithstanding the prior exercise of its option under Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer and each of
the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.03, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12,
4.13, 4.14, 4.15, 4.16, 4.17, 4.18 and 4.19 and Section 5.01(a)(3) and 5.01(a)(4) hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter,
“Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with
such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that,
with respect to the outstanding Notes and Note Guarantees, the Issuer and the Guarantors may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply with such covenants will not
constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified in this Section 8.03, the remainder of this Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the
Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, clauses (3) through (5) of Section 6.01
hereof will not constitute Events of Default. 

  
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 Section 8.04 Conditions to Legal or Covenant Defeasance. 

In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 

(1) the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars,
non–callable Government Securities, or a combination thereof, in such amounts as will be sufficient, in the case of non-callable Government Securities, in the written opinion of a U.S. nationally recognized investment bank, appraisal firm, or
firm of independent public accountants delivered to the Trustee, to pay the principal of, premium, if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as the case may be, and
the Issuer must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date; 
 (2) in the case of an election under Section 8.02 hereof, the Issuer must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee (subject to customary exceptions and
exclusions) confirming that: 
 (A) the Issuer has received from, or there has been published by, the Internal
Revenue Service a ruling; or 
 (B) since the Issue Date there has been a change in the applicable federal income
tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the
outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such Legal Defeasance had not occurred; 
 (3) in the case of an election under Section 8.03
hereof, the Issuer must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee (subject to customary exceptions and exclusions) confirming that the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 (4) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other
than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the grant of any Lien securing such borrowing); 
 (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the
Issuer or any of its Subsidiaries is a party or by which the Issuer or any of its Subsidiaries is bound; 

  
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 (6) the Issuer must deliver to the Trustee an Officer’s Certificate
stating that the deposit was not made by the Issuer with the intent of preferring the Holders over the other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or others; and

 (7) the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 Section 8.05
Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. 
 (a) Subject to
Section 8.06 hereof, all money and non–callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the
“Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either
directly or through any Paying Agent (including the Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such
money need not be segregated from other funds except to the extent required by law. 
 (b) The Issuer will pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the cash or non–callable Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 
 (c) Notwithstanding
anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the written request of the Issuer any money or non–callable Government Securities held by it as provided in Section 8.04
hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under clause (1) of Section 8.04
hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 Section 8.06 Repayment to the Issuer. 
 Any money deposited with the
Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium or interest on, any Note and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall
be paid to the Issuer on its written request or (if then held by the Issuer) will be discharged from such trust; and the Holders will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such

  
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repayment, shall, at the expense of the Issuer, cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and
that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. 

Section 8.07 Reinstatement. 
 If the Trustee or Paying Agent is unable to apply any U.S. dollars or non–callable Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s and the Guarantors’ obligations under this Indenture and the Notes and the Note Guarantees will be
revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the
case may be; provided, however, that, if the Issuer makes any payment of principal of, premium, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders
of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 
 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders. 
 (a) Notwithstanding Section 9.02 of this Indenture, the Issuer and the Trustee may amend or supplement this Indenture or the Notes or the Note Guarantees or any Security Document without the consent
of any Holder to cure any ambiguity, omission, defect or inconsistency or to provide for the assumption by a successor corporation, partnership or limited liability company of the obligations of the Issuer under this Indenture, the Notes and the
Security Documents: 
 (1) to provide for uncertificated Notes in addition to or in place of certificated Notes
(provided that the uncertificated notes are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated notes are described in Section 163(f)(2)(B) of the Code); 

(2) to add guarantees with respect to the Notes or to evidence the release of any Guarantor from its Note Guarantee and
under the Security Documents as provided in this Indenture; 
 (3) to further secure the Notes; 

(4) to add to the covenants of the Issuer for the benefit of the Holders; 

(5) to surrender any right or power conferred upon the Issuer; 

(6) to make any change that does not adversely affect the rights of any Holder; 

  
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 (7) to comply with any requirement of the SEC in connection with the
qualification of this Indenture under the TIA; 
 (8) to evidence or provide for the acceptance of appointment
under this Indenture of a successor Trustee; 
 (9) to conform the text of this Indenture, the Note Guarantees or
the Notes to any provision of the “Description of the Notes” section of the Offering Document; 
 (10)
to make certain changes to this Indenture to provide for the issuance of Additional Notes; 
 (11) to provide for
the release of Collateral from the Liens of this Indenture and the Security Documents when permitted or required by the Security Documents or this Indenture; or 
 (12) to secure any Permitted Additional Pari Passu Obligations under the Security Documents and to appropriately include the same in the lntercreditor Agreement. 

(b) Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amendment
or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 9.06 hereof, the Trustee will join with the Issuer and the Guarantors in the execution of any amendment or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amendment or supplemental indenture that affects its own
rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02 With Consent of Holders. 

(a) Except as provided in this Section 9.02, the Issuer, the Guarantors and the Trustee and, if applicable, the Collateral Agent, may
amend or supplement this Indenture (including, without limitation, Sections 4.08 and 4.12 hereof) and the Notes or the Note Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default
(other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this
Indenture, any Security Document or the Notes or the Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes voting as a single class (including, without limitation,
consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes). Section 2.08 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.02.

 (b) Upon the written request of the Issuer accompanied by a resolution of its Boards of Directors authorizing the execution
of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the 

  
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Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.06 hereof, the Trustee will join with the Issuer and the Guarantors in the execution of such
amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be
obligated to, enter into such amended or supplemental Indenture. 
 (c) It is not be necessary for the consent of the Holders
under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 

(d) After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer will mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.
Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class may waive compliance in a particular instance by the Issuer or any Guarantor with any provision
of this Indenture, the Intercreditor Agreement, the other the Security Documents or the Notes or the Note Guarantees. However, without the consent of each Holder affected thereby, an amendment, supplement or waiver under this Section 9.02 may
not (with respect to any Notes held by a non–consenting Holder): 
 (1) reduce the principal amount of Notes
whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce the principal of or extend the
fixed maturity of any Note or alter the provisions with respect to the redemption of the Notes (for the avoidance of doubt, repurchases of the Notes by the Issuer pursuant to Sections 4.08 and 4.12 hereof are not redemptions of the Notes);

 (3) reduce the rate of or extend the time for payment of interest, including default interest, or premium on
any Note; 
 (4) waive a Default or Event of Default in the payment of principal of, or premium, if any, or
interest on, the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration);

 (5) make any Note payable in money other than that stated in the Notes; 

(6) make any change in the provisions of this Indenture relating to waivers of past Defaults or impair the rights of
Holders to receive payments of principal of, or interest or premium, if any, on, the Notes; 
 (7) waive a
redemption payment with respect to any Note (for the avoidance of doubt, any payment required by Sections 4.08 or 4.12 hereof is not a redemption payment); 

  
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 (8) release any Guarantor that is a Significant Subsidiary of the Issuer
from any of its obligations under its Note Guarantee or this Indenture, except in accordance with the terms of this Indenture; 
 (9) make any change in the preceding amendment and waiver provisions; or 
 (10) make any change in the provisions in the Intercreditor Agreement or this Indenture dealing with the application of proceeds of Collateral that would adversely affect the Holders. 

(e) In addition, any amendment to, or waiver of, the provisions of this Indenture, any Security Document or any other indenture governing
Permitted Additional Pari Passu Obligations that has the effect of releasing all or substantially all of the Collateral from the Liens securing the Notes or otherwise modifies the Intercreditor Agreement or other Security Documents in any manner
adverse in any material respect to the Holders will require the consent of the holders of at least 66- 2/3% in aggregate principal amount of the Notes and any Permitted Additional Pari Passu Obligations then outstanding. 

Section 9.03 Intentionally Omitted. 

Section 9.04 Revocation and Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder or portion of a Note that evidences the same debt
as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date
the amendment, supplement or waiver becomes effective. After an amendment, supplement or waiver becomes effective in accordance with its terms, it thereafter binds every Holder. 
 Section 9.05 Notation on or Exchange of Notes. 
 The Trustee may place
an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect
the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue a new Note will not affect the
validity and effect of such amendment, supplement or waiver. 
 Section 9.06 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental indenture until the Issuer’s Board of Directors approves it. In executing any amended or supplemental indenture,
the Trustee will be provided with and (subject to Section 7.01 hereof) will be fully protected in conclusively relying upon, in addition to the documents required by Section 14.04 hereof, an Officer’s Certificate and an Opinion of
Counsel stating that the 

  
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execution of such amended or supplemental indenture is authorized or permitted by this Indenture and that such amended or supplemental indenture is the legal, valid and binding obligation of the
Issuer or Guarantor, as applicable, enforceable against the Issuer or the Guarantor, as applicable, in accordance with its terms. 
 ARTICLE 10 
 NOTE GUARANTEES 

Section 10.01 Guarantee. 
 (a) Subject to this Article 10, each of the Guarantors hereby, jointly and severally, unconditionally Guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and
the Collateral Agent and their respective successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Issuer hereunder or thereunder, that: 

(1) the principal of, premium, if any, and interest on, the Notes will be promptly paid in full when due, whether at
maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee or the Collateral Agent hereunder or
thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will
be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 
 Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors will be jointly and severally obligated to pay the same immediately. Each
Guarantor agrees that this is a Guarantee of payment and not a Guarantee of collection. 
 (b) The Guarantors hereby agree that
their obligations hereunder are unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby
waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of either Issuer, any right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever and
covenant that this Note Guarantee will not be discharged except by complete performance of the obligations contained in the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any court or otherwise to return to the Issuer, the Guarantors or any custodian, trustee, liquidator or other similar official acting

  
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in relation to either the Issuer or the Guarantors, any amount paid by either to the Trustee or the Collateral Agent or such Holder, this Note Guarantee, to the extent theretofore discharged,
will be reinstated in full force and effect. 
 (d) Each Guarantor agrees that it will not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders, the
Collateral Agent and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations (whether or not due and
payable) will forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors will have the right to seek contribution from any non–paying Guarantor so long as the exercise of such right does not impair
the rights of the Holders under the Note Guarantee. 
 Section 10.02 Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal, state or provincial law in any
jurisdiction to the extent applicable to any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Collateral Agent, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be limited to
the maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this Article 10, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent
transfer or conveyance. 
 Section 10.03 Intentionally Omitted. 
 Section 10.04 Guarantors May Consolidate, etc., on Certain Terms. 

(a) Except as otherwise provided in this Section 10.04, a Guarantor may not sell or otherwise dispose of all or substantially all of
its assets to, or consolidate with or merge or amalgamate with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Issuer or another Guarantor, unless: 

(1) immediately after giving effect to such transaction, no Default or Event of Default exists; and 

(2) either: 
 (a) the Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such consolidation or merger assumes all

  
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the obligations of that Guarantor under this Indenture, its Note Guarantee, the Intercreditor Agreement and the other Security Documents, pursuant to, in the case of this Indenture and the
relevant agreements, a supplemental indenture in form and substance satisfactory to the Trustee; or 
 (b) the
Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of this Indenture. 
 In
case of any such consolidation, merger, amalgamation, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the Note Guarantee
and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same effect as if it had been named
herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Issuer and delivered to the
Trustee. All the Note Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such
Note Guarantees had been issued at the date of the execution hereof. 
 (b) Except as set forth in Articles 4 and 5 hereof, and
notwithstanding clauses 2(a) and 2(b) above, nothing contained in this Indenture or in any of the Notes will prevent any consolidation, merger or amalgamation of a Guarantor with or into the Issuer or another Guarantor, or will prevent any
sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Issuer or another Guarantor. 

Section 10.05 Releases. 
 (a) The Note Guarantee of a Guarantor will be automatically released and discharged: 
 (1) in connection with any sale, disposition or transfer of all or substantially all of the assets of that Guarantor (including by way of merger, amalgamation, or consolidation) to a Person that is not
(either before or after giving effect to such transaction) the Issuer or a Restricted Subsidiary of the Issuer, if the sale, disposition or transfer does not violate Section 4.08 hereof; 

(2) in connection with any sale, disposition or transfer of all of the Capital Stock of that Guarantor to a Person that is
not (either before or after giving effect to such transaction) the Issuer or a Restricted Subsidiary of the Issuer, if the sale, disposition or transfer does not violate Section 4.08 hereof; 

(3) if the Issuer designates any Restricted Subsidiary that is a Guarantor to be an Unrestricted Subsidiary in accordance
with the applicable provisions of this Indenture; 
 (4) upon Legal Defeasance in accordance with Article 8
hereof or satisfaction and discharge of this Indenture in accordance with Article 11 and Article 8 hereof; or 

  
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 (5) upon the release of such Guarantors’ Guarantee under the Credit
Agreement or such other Indebtedness that triggered such Guarantor’s Note Guarantee. 
 (b) Any Guarantor not released from
its obligations under its Note Guarantee as provided in this Section 10.05 will remain liable for the full amount of principal of and interest and premium, if any, on the Notes and for the other obligations of any Guarantor under this Indenture
as provided in this Article 10. 
 ARTICLE 11 
 SATISFACTION AND DISCHARGE 
 Section 11.01 Satisfaction and Discharge. 

(a) This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when: 

(1) either: 
 (a) all Notes that have been authenticated and, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust or segregated and held
in trust by the Issuer and thereafter repaid to the Issuer, have been delivered to the Trustee for cancellation; or 
 (b) all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within
one year or may be called for redemption within one year and the Issuer or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars,
non–callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness (including all principal and interest) on
the Notes not delivered to the Trustee for cancellation; 
 (2) the Issuer or any Guarantor has paid or caused to
be paid all sums payable by it under this Indenture; and 
 (3) the Issuer has delivered irrevocable written
instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be. 
 (b) In addition, an Officer’s Certificate and an Opinion of Counsel have been delivered to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

 (c) Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant
to Section 11.01(a)(1)(b), the provisions of 

  
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Sections 11.02 and 8.06 hereof will survive such satisfaction and discharge. In addition, nothing in this Section 11.01 will be deemed to discharge those provisions of Section 7.07
hereof, or any other provision hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. 
 Section 11.02
Application of Trust Money. 
 (a) Subject to the provisions of Section 8.06 hereof, all money deposited with the
Trustee pursuant to Section 11.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as
its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from
other funds except to the extent required by law. 
 (b) If the Trustee or Paying Agent is unable to apply any money or
Government Securities in accordance with Section 11.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Issuer’s and any Guarantor’s obligations under this Indenture and the Notes and Note Guarantees, as applicable, shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that
if the Issuer has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from
the money or Government Securities held by the Trustee or Paying Agent. 
 ARTICLE 12 

COLLATERAL AND SECURITY 

Section 12.01 Security Documents; Additional Collateral; Intercreditor Agreement. 

(a) Security Documents. In order to secure the due and punctual payment of the Note Obligations and any Permitted Additional Pari
Passu Obligations, the Issuer, the Guarantors, the Collateral Agent and the other parties thereto have simultaneously with the execution of this Indenture entered or, in accordance with the provisions of Section 4.14, Section 4.17,
Section 4.19 and this Article 12, will enter into the Security Documents. In the event of a conflict or inconsistency between the terms of this Indenture and the Security Documents, the Security Documents shall control. The Issuer shall, and
shall cause each of its Restricted Subsidiaries to, and each Restricted Subsidiary shall, make all filings (including filings of continuation statements and amendments to UCC financing statements that may be necessary to continue the effectiveness
of such UCC financing statements) and take all other actions as are reasonably necessary or required by the Security Documents to maintain (at the sole cost and expense of the Issuer and its Restricted Subsidiaries) the security interest created by
the Security Documents in the Collateral (other than with respect to any Collateral the security interest in which is not required to be perfected under the Security Documents) as a perfected security interest subject only to Permitted Liens.

  
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 (b) Additional Collateral. With respect to assets acquired after the Issue Date, the
applicable Company or Guarantor will take the actions required by the Security Agreement or Section 4.18 of this Indenture. 
 (c) Intercreditor Agreement. The Security Documents, the Trustee, the Collateral Agent and the Holders are bound by the terms of the Intercreditor Agreement and each Holder of a Note, by accepting
such Note, agrees to all the terms and provisions of the Intercreditor Agreement and the other Security Documents. Notwithstanding anything to the contrary, (i) the liens and security interests granted to the Collateral Agent pursuant to the
Security Documents and all rights and obligations of the Trustee and Collateral Agent hereunder are expressly subject to the Intercreditor Agreement and (ii) the exercise of any right or remedy by the Trustee hereunder is subject to the
limitation and provisions of the Intercreditor Agreement. In the event of any conflict or inconsistency between the terms of the Intercreditor Agreement and the terms of this Indenture, the terms of the Intercreditor Agreement, shall govern.

 Section 12.02 Intentionally Omitted. 
 Section 12.03 Release of Collateral. 
 The Liens securing the Notes
and the Guarantees will, automatically and without the need for any further action by any Person be released: 
 (a) in whole or
in part, as applicable, as to all or any the portion of property subject to such Liens which has been taken by eminent domain, condemnation or other similar circumstances in accordance with the terms of Section 4.08; 

(b) in whole upon: 
 (1) payment in full of the principal of, together with accrued and unpaid interest, if any, on the Notes and all other Obligations under this Indenture, the Note Guarantees and the Security Documents that
are due and payable at or prior to the time such principal, together with accrued and unpaid interest, if any, are paid; 
 (2) satisfaction and discharge of this Indenture as set forth under Article 11; or 
 (3) a legal defeasance or covenant defeasance of this Indenture as set forth under Article 8; 
 (c) in part, as to any property that (i) is sold, transferred or otherwise disposed of by the Issuer or any Guarantor (other than to the Issuer or another Guarantor) in a transaction not prohibited
by this Indenture at the time of such transfer or disposition, including, without limitation, as a result of a transaction of the type permitted under Sections 4.08 and 5.01 or (ii) is owned or at any time acquired by a Guarantor that has been
released from its Guarantee, concurrently with the release of such Guarantee; 
 (d) as to property that constitutes all or
substantially all of the Collateral securing the Notes, with the consent of each Holder of the Notes and each holder of any Permitted Additional Pari Passu Obligations outstanding; 

  
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 (e) as to property that constitutes less than all or substantially all of the Collateral
securing the Notes, with the consent of the Holders of at least 66 2/3% of the aggregate principal amount of Notes (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, Notes) and
any Permitted Additional Pari Passu Obligations outstanding; 
 (f) as to any MTBE Assets (including the Capital Stock of any
Permitted MTBE Joint Venture) subject to a security interest granted under a mortgage, security agreement or other security interest in favor of the Collateral Agent, upon the earlier of (a) the Issuer’s written request and (b) the
disposition of such MTBE Asset; 
 (g) as to (A) any Capital Stock of any MTBE Subsidiary that is a Restricted Subsidiary
of the Issuer or (B) the real property upon which the MTBE Assets are situated, upon (i) the release of such Capital Stock or real property, as applicable, from the security interest granted pursuant to the ABL Security Documents, in each
case other than in connection with a discharge of ABL Obligations and (ii) solely with respect to such real property, the Collateral Agent’s receipt from the Issuer of an Officer’s Certificate certifying that the release of such real
property does not materially adversely affect or impair (1) the business operations of the Issuer and its Restricted Subsidiaries as a whole or (2) the validity or priority of the Lien of the Security Documents on the balance of the
Mortgaged Property; and 
 (h) in part or in whole, in accordance with the applicable provisions of the Intercreditor Agreement
and the other the Security Documents. 
 In addition, to the extent necessary and for so long as required for such Guarantor not
to be subject to any requirement pursuant to Rule 3-16 of Regulation S-X under the Securities Act to file separate financial statements with the SEC (or any other governmental agency), the Capital Stock and other securities of any Guarantor shall
not be included in the Collateral with respect to the Notes (or any Permitted Additional Pari Passu Obligations outstanding) so affected and shall not be subject to the Liens securing such Notes and any Permitted Additional Pari Passu Obligations.
In determining whether any such release is permitted, the Collateral Agent may rely upon a certificate of the Issuer that the Collateral is permitted to be released under this Indenture. 

Any release of Collateral permitted by this Section 12.03 shall be deemed not to impair the remaining Liens under this Indenture and
the Security Agreement and the other Security Documents in contravention thereof. 
 Section 12.04 Form and Sufficiency of Release.

 In the event that either the Issuer or any Guarantor has sold, exchanged, or otherwise disposed of or proposes to sell,
exchange or otherwise dispose of any portion of the Collateral that, under the terms of this Indenture may be sold, exchanged or otherwise disposed of by the Issuer or any Guarantor, and the Issuer or such Guarantor requests the Trustee in writing
to furnish a written disclaimer, release or quitclaim of any interest in such property under this Indenture, the applicable Guarantee and the Security Documents, upon receipt of an Officer’s Certificate and Opinion of Counsel to the effect that
such release complies with Section 12.03 

  
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and specifying the provision in Section 12.03 pursuant to which such release is being made (upon which the Trustee may exclusively and conclusively rely), the Trustee shall execute,
acknowledge and deliver to the Issuer or such Guarantor (or instruct the Collateral Agent to do the same) such an instrument in the form provided by the Issuer, and providing for release without recourse and shall take such other action as the
Issuer or such Guarantor may reasonably request and as necessary to effect such release. 
 Section 12.05 Possession and Use of
Collateral. 
 Subject to the provisions of the Security Documents, the Issuer and the Guarantors shall have the right to
remain in possession and retain exclusive control of and to exercise all rights with respect to the Collateral (other than Trust Monies held by the Collateral Agent, other monies or U.S. Government Obligations deposited pursuant to Article 8 or
Article 11, and other than as set forth in the Security Documents and this Indenture), to freely operate, manage, develop, lease, use, consume and enjoy the Collateral (other than Trust Monies held by the Collateral Agent, other monies and U.S.
Government Obligations deposited pursuant to Article 8 or Article 11 and other than as set forth in the Security Documents and this Indenture), to alter or repair any Collateral so long as such alterations and repairs do not materially impair the
Lien of the Security Documents thereon, and to collect, receive, use, invest and dispose of the reversions, remainders, interest, rents, lease payments, issues, profits, revenues, proceeds and other income thereof and to effect transactions
permitted under Sections 4.08 and 5.01. 
 Section 12.06 Intentionally Omitted. 

Section 12.07 Collateral Agent. 
 (a) The Trustee and each of the Holders by acceptance of the Notes hereby acknowledge the Issuer’s appointment of the Collateral Agent as the Trustee’s collateral agent under this Indenture and
the Security Documents and the Trustee and each of the Holders by acceptance of the Notes hereby irrevocably authorizes the Collateral Agent to take such action on its behalf under the provisions of this Indenture and the Security Documents and to
exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Indenture and the Security Documents, together with such powers as are reasonably incidental thereto. The Collateral Agent agrees to
act as such on the express conditions contained in this Section 12.07. The provisions of this Section 12.07 are solely for the benefit of the Collateral Agent and none of the Trustee, any of the Holders nor the Issuer or any of the
Guarantors shall have any rights as a third party beneficiary of any of the provisions contained herein other than as expressly provided in Section 12.03. Notwithstanding any provision to the contrary contained elsewhere in this Indenture and
the Security Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein or in the Security Documents, nor shall the Collateral Agent have or be deemed to have any fiduciary relationship
with the Trustee, any Holder or the Issuer or any Guarantor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Indenture and the Security Documents or otherwise exist against the
Collateral Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” in this Indenture with reference to the Collateral Agent shall not be construed to connote any fiduciary or other implied (or express)
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applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.
Except as expressly otherwise provided in this Indenture and the Security Documents, the Collateral Agent shall exercise or refraining from exercising any discretionary rights or taking or refraining from taking any actions which the Collateral
Agent is expressly entitled to take or assert under this Indenture and the Security Documents, including the exercise of remedies pursuant to Article 6, and any action so taken or not taken shall be deemed consented to by the Trustee and the
Holders. 
 (b) The Collateral Agent may execute any of its duties under this Indenture and the Security Documents by or through
agents, employees or attorneys–in–fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Collateral Agent shall not be responsible for the negligence or misconduct of any agent, employee or
attorney–in–fact that it selects as long as such selection was made with due care. 
 (c) None of the Collateral Agent
or any of its agents or employees shall (i) be liable for any action taken or omitted to be taken by any of them under or in connection with this Indenture or the transactions contemplated hereby (except for its own gross negligence or willful
misconduct) or under or in connection with any Security Document or the transactions contemplated thereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to the Trustee or any Holder for any
recital, statement, representation, warranty, covenant or agreement made by the Issuer or any Guarantor, contained in this Indenture or any indenture, or in any certificate, report, statement or other document referred to or provided for in, or
received by the Collateral Agent under or in connection with, this Indenture or any other indenture, the Security Documents, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Indenture or any other indenture or the
Security Documents, or for any failure of the Issuer or any Guarantor or any other party to this Indenture or the Security Documents to perform its obligations hereunder or thereunder. None of the Collateral Agent or any of its agents or employees
shall be under any obligation to the Trustee or any Holder to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Indenture or any other indenture or the Security Documents or to
inspect the properties, books or records of the Issuer or any Guarantor. 
 (d) The Collateral Agent shall not be deemed to have
actual knowledge or notice of the occurrence of any Default or Event of Default, unless the Collateral Agent shall have received written notice from the Trustee or the Issuer referring to this Indenture, describing such Default or Event of Default
and stating that such notice is a “notice of default.” The Collateral Agent shall take such action with respect to such Default or Event of Default as may be requested by the Trustee in accordance with Article 6 (subject to this
Section 12.07); provided, however, that unless and until the Collateral Agent has received any such request, the Collateral Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable. 
 (e) A resignation or removal of the Collateral Agent and appointment
of a successor Collateral Agent shall become effective only upon the successor Collateral Agent’s acceptance of appointment as provided in this Section 12.07(e). The Collateral Agent may

  
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resign in writing at any time by so notifying the Issuer, the Trustee and each trustee, agent or representative of holders of Permitted Additional Pari Passu Obligations at least 30 days prior to
the proposed date of resignation. The Issuer may remove the Collateral Agent if: (i) the Collateral Agent (x) fails to meet the requirements for being a Trustee under Section 7.10 (prior to the discharge or defeasance of this
Indenture) and (y) following the discharge or defeasance of this Indenture, fails to meet the requirements for being the trustee, agent or representative of holders of any extant Permitted Additional Pari Passu Obligations; (ii) the
Collateral Agent is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Collateral Agent under any Bankruptcy Law; (iii) a custodian or public officer takes charge of the Collateral Agent or its property;
or (iv) the Collateral Agent becomes incapable of acting. If the Collateral Agent resigns or is removed or if a vacancy exists in the office of Collateral Agent for any reason, the Issuer shall promptly appoint a successor Collateral Agent
which complies with the eligibility requirements contained in this Indenture and each indenture, credit agreement or other agreements which any Permitted Additional Pari Passu Obligations (other than Additional Notes) are incurred. If a successor
Collateral Agent does not take office within ten days after the retiring Collateral Agent resigns or is removed, the retiring or removed Collateral Agent, the Issuer or the holders of at least 10% in principal amount of the then outstanding
principal amount of (x) the Notes (other than any Additional Notes except to the extent constituting Permitted Additional Pari Passu Obligations) and (y) Permitted Additional Pari Passu Obligations (to the extent the trustee, agent or
representative of holders of such Permitted Additional Pari Passu Obligations executed a joinder to the Security Agreement) may petition any court of competent jurisdiction, at the expense of the Issuer for the appointment of a successor Collateral
Agent. A successor Collateral Agent shall deliver a written acceptance of its appointment to the retiring Collateral Agent and to the Issuer. Thereupon, the resignation or removal of the retiring Collateral Agent shall become effective, and the
successor Collateral Agent shall have all the rights, powers and the duties of the Collateral Agent under this Indenture and the Security Documents. The successor Collateral Agent shall mail a notice of its succession to the Trustee and each
trustee, agent or representative of holders of Permitted Additional Pari Passu Obligations. The retiring Collateral Agent shall promptly transfer all property held by it as Collateral Agent to the successor Collateral Agent, provided that all sums
owing to the Collateral Agent hereunder have been paid. Notwithstanding replacement of the Collateral Agent pursuant to this Section 12.07(e), the Issuer’s obligations under this Section 12.07 and Section 12.12 shall continue for
the benefit of the retiring Collateral Agent. 
 (f) Except as otherwise explicitly provided herein or in the Security
Documents, neither the Collateral Agent nor any of its officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to
sell or otherwise dispose of any Collateral upon the request of any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The Collateral Agent shall be accountable only for amounts that it actually
receives as a result of the exercise of such powers, and neither the Collateral Agent nor any of its officers, directors, employees or agents shall be responsible for any act or failure to act hereunder, except for its own willful misconduct, gross
negligence or bad faith. 
 (g) The Trustee is authorized and directed in writing by the Holders and the Holders by acquiring
the Notes are deemed to have authorized the Trustee, as applicable, to (i)

  
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enter into the Security Documents, (ii) bind the Holders on the terms as set forth in the Security Documents and (iii) perform and observe its obligations under the Security Documents.
The Collateral Agent is authorize and directed by the Trustee and the Holders and the Holders by acquiring the Notes and deemed to have authorized the Collateral Agent to (i) enter into the Security Documents, (ii) bind the Trustee and the
Holders on the terms as set forth in the Security Documents and (iii) perform and observe its obligations under the Security Documents. 
 (h) Neither the Collateral Agent nor the Trustee shall have any obligation whatsoever to assure that the Collateral exists or is owned by the Issuer and the Guarantors or is cared for, protected or
insured or has been encumbered, or that the Collateral Agent’s Liens have been properly or sufficiently or lawfully created, perfected, protected, maintained or enforced or are entitled to any particular priority, or to determine whether all of
the Grantor’s property constituting collateral intended to be subject to the Lien and security interest of the Security Documents has been properly and completely listed or delivered, as the case may be, or the genuineness, validity,
marketability or sufficiency thereof or title thereto, or to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to
the Collateral Agent pursuant to this Indenture or any Security Document, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Collateral Agent may act in any manner it may deem
appropriate, in its sole discretion given the Collateral Agent’s own interest in the Collateral, and that neither the Collateral Agent nor the Trustee shall have any other duty or liability whatsoever as to any of the foregoing. 

(i) The Collateral Agent (i) shall not be liable for any action it takes or omits to take in good faith which it reasonably believes
to be authorized or within its rights or powers, or for any error of judgment made in good faith by an authorized officer, unless it is proved that the Collateral Agent was negligent in ascertaining the pertinent facts, (ii) shall not be liable
for interest on any money received by it except as the Collateral Agent may agree in writing with the Issuer (and money held in trust by the Collateral Agent need not be segregated from other funds except to the extent required by law), and
(iii) may consult with counsel of its selection and the advice or opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it in
good faith and in accordance with the advice or opinion of such counsel. The grant of permissive rights or powers to the Collateral Agent shall not be construed to impose duties to act. In no event shall the Collateral Agent be responsible or liable
for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Collateral Agent has been advised of the likelihood of such loss or damage and
regardless of the form of action. 
 (j) Notwithstanding anything to the contrary in this Indenture (including this Article 12),
in the event of a foreclosure on the Mortgaged Property and/or the exercise of its remedies under the Security Documents, the Trustee and Collateral Agent agree that they shall not take any action that results in the disturbance, extinguishment or
termination of any Permitted Liens granted pursuant to clause 14(B) of the definition thereof. Upon the request of the Issuer, the Collateral Agent shall enter into (x) in the case of any such Permitted Lien that is a lease, a subordination
non–disturbance and attornment agreement and (y) in the case of 

  
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any such other Permitted Lien, a nondisturbance agreement, consent or such other agreement which, in each case, confirms that in the event of a foreclosure on the Mortgaged Property and/or
exercise of remedies under the Security Documents, the Collateral Agent (and its successors and assigns) will not disturb, extinguish or terminate any such Permitted Liens (or the rights thereunder). Any request by the Issuer pursuant to the
preceding sentence shall be evidenced by a certificate from an officer of the Issuer which certificate shall certify that (1) the Permitted Liens in question do not materially adversely affect or impair (A) the business operations of the
Issuer and its Restricted Subsidiaries as a whole or (B) the validity or priority of the Lien of the Mortgages on the balance of the Mortgaged Property and (2) the applicable non–disturbance agreement, consent or other agreement
provides that the Permitted Liens in question are subordinate to the Lien in favor of the Collateral Agent on the Mortgaged Property. 
 (k) The Trustee and the Collateral Agent shall be deemed to have exercised reasonable care in the custody of the Collateral in their possession if the Collateral is accorded treatment substantially equal
to that which it accords its own property and shall not be liable or responsible for any loss or diminution in the value of any Collateral, by reason of the act or omission of any carrier, forwarding agent or other agent or bailee selected by the
Trustee or the Collateral Agent in good faith. Neither the Trustee nor the Collateral Agent shall be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times
or otherwise perfecting or maintaining the perfection of any security interest in the Collateral. 
 Section 12.08 Purchaser
Protected. 
 No purchaser or grantee of any property or rights purporting to be released shall be bound to ascertain the
authority of the Collateral Agent or Trustee to execute the release or to inquire as to the existence of any conditions herein prescribed for the exercise of such authority so long as the conditions set forth in Section 12.04 have been
satisfied. 
 Section 12.09 Authorization of Actions to Be Taken by the Collateral Agent Under the Security Documents. 

The Holders agree that the Collateral Agent shall be entitled to the rights, privileges, protections immunities, indemnities and benefits
provided to the Collateral Agent by the Security Documents. Furthermore, each holder of a Note, by accepting such Note, consents to the terms of and authorizes and directs the Trustee (in each of its capacities) and the Collateral Agent to enter
into and perform the Security Documents in each of its capacities thereunder. 
 Section 12.10 Authorization of Receipt of Funds by the
Trustee Under the Security Agreement. 
 The Trustee is authorized to receive any funds for the benefit of Holders
distributed under the Security Documents to the Trustee, to apply such funds as provided in Section 6.10 hereof. 
 Section 12.11
Powers Exercisable by Receiver or Collateral Agent. 
 In case the Collateral shall be in the possession of a receiver or
trustee, lawfully appointed, the powers conferred in this Article 12 upon the Issuer or any Guarantor, as 

  
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applicable, with respect to the release, sale or other disposition of such property may be exercised by such receiver or trustee, and an instrument signed by such receiver or trustee shall be
deemed the equivalent of any similar instrument of the Issuer or any Guarantor, as applicable, or of any officer or officers thereof required by the provisions of this Article 12. 
 Section 12.12 Compensation and Indemnification. 
 The Collateral Agent
shall be entitled to the compensation and indemnification set forth in Section 7.07 (with the references to the Trustee therein being deemed to refer to the Collateral Agent). 

ARTICLE 13 

APPLICATION OF TRUST MONIES 

Section 13.01 Collateral Account. 
 All Trust Monies received by the Paying Agent or the Collateral Agent shall be maintained with the Collateral Agent in the Collateral Account. The Collateral Account shall be established and maintained by
the Collateral Agent at the office of the Collateral Agent or as a deposit account or securities account subject to a control agreement in favor of the Collateral Agent. 
 Section 13.02 Withdrawal of Net Proceeds to Fund an Asset Sale Offer. 

To the extent that any Trust Monies consist of Net Proceeds received by the Collateral Agent pursuant to the provisions of
Section 4.08 and an Asset Sale Offer has been made in accordance therewith, such Trust Monies may be withdrawn by the Issuer and shall be paid by the Trustee to the Paying Agent for application in accordance with Section 4.08 upon written
notice by the Issuer to the Trustee and upon receipt by the Trustee and the Collateral Agent of an Officer’s Certificate, dated not more than ten days prior to the date of purchase, stating: 

(a) that no Event of Default shall have occurred and be continuing; 

(b) (x) that such Trust Monies constitute Net Proceeds or (y) that pursuant to and in accordance with Section 4.08, the Issuer
has made an Asset Sale Offer and (z) the amount of Excess Proceeds to be applied to the repurchase of the Notes and Permitted Additional Pari Passu Obligations pursuant to the Asset Sale Offer; 

(c) the date of purchase; and 
 (d) that all conditions precedent and covenants herein provided for relating to such application of Trust Monies have been complied with. 

Upon compliance with the foregoing provisions of this Section 13.02, the Paying Agent shall apply the Trust Monies as directed and
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 Section 13.03 Withdrawal of Trust Monies for Investment in Replacement Assets. 

In the event the Issuer intends to reinvest Net Proceeds of an Asset Sale in assets in compliance with Section 4.08
(“Replacement Assets”), such Net Proceeds constituting Trust Monies (the “Released Trust Monies”) may be withdrawn by the Issuer and shall be paid by the Collateral Agent to the Issuer upon receipt by the Trustee
and the Collateral Agent of a written notice from the Issuer (i) referring to this Section 13.03, (ii) describing with particularity the Released Trust Monies, (iii) describing the intended use of the Released Trust Monies and
stating that such use shall comply with Section 4.08 hereof, (iv) stating that the release of the Released Trust Monies shall not result in a Event of Default hereunder and (v) stating that all conditions precedent herein to such
release have been complied with. Upon compliance with the foregoing provisions, the Paying Agent shall apply the Released Trust Monies as directed and specified by the Issuer. 
 Section 13.04 Investment of Trust Monies. 
 (a) So long as no Event of
Default shall have occurred and be continuing, all or any part of any Trust Monies held by (or held in account subject to the sole control of) the Collateral Agent shall from time to time be invested or reinvested by the Collateral Agent in any Cash
Equivalents pursuant to a written request by the Issuer in the form of an Officer’s Certificate, which shall specify the Cash Equivalents in which such Trust Monies shall be invested and shall certify that such investments constitute Cash
Equivalents; and the Collateral Agent shall sell any such Cash Equivalent only upon receipt of such a written request by the Issuer specifying the particular Cash Equivalent to be sold. So long as no Event of Default occurs and is continuing, any
interest or dividends accrued, earned or paid on such Cash Equivalents (in excess of any accrued interest or dividends paid at the time of purchase) that may be received by the Collateral Agent shall be forthwith paid to the Issuer. Such Cash
Equivalents shall be held by the Collateral Agent as a part of the Collateral, subject to the same provisions hereof as the cash used by it to purchase such Cash Equivalents. 
 (b) The Trustee and Collateral Agent shall not be liable or responsible whatsoever for any loss fee, tax, or other charge incurred in connection with any investment, reinvestment or liquidation of an
investment hereunder. 
 Section 13.05 Use of Trust Monies; Retirement of Notes. 

The Paying Agent shall apply Trust Monies not reinvested pursuant to Section 13.04 hereof, not required to be applied to fund an
Asset Sale Offer or required to be held pending application to the acquisition of Replacement Assets from time to time to the payment of the principal of, premium, and interest on, any Notes and any Permitted Additional Pari Passu Obligations by lot
or by such other method as the Registrar shall deem to be fair and appropriate (in such manner as complies with applicable legal requirements and provided that the Registrar shall not select Notes or such other Permitted Additional Pari Passu
Obligations for purchase which would result in a Holder with a principal amount of Notes or such other Permitted Additional Pari Passu Obligations less than the applicable minimum denomination to the extent practicable), on any redemption date or
the maturity date or to the redemption thereof or the purchase thereof upon tender or in the open market or at private sale or upon any exchange or in any one or more of such ways, including, without limitation, pursuant to a Change of Control Offer
or an Asset Sale Offer, as the Issuer shall request in writing, upon receipt by the Trustee and the Paying Agent of the following: 
 (a) an Officer’s Certificate, dated not more than ten days prior to the date of the relevant application, stating: 

(1) that no Event of Default exists unless such Event of Default would be cured thereby; and 

  
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 (2) that all conditions precedent and covenants herein provided for relating
to such application of Trust Monies have been complied with; and 
 (b) an Opinion of Counsel stating that all conditions
precedent herein provided for relating to such application of Trust Monies have been complied with. Such Opinion of Counsel may rely on an Officer’s Certificate of the Issuer. 

Upon compliance with the foregoing provisions of this Section 13.05, the Paying Agent shall apply Trust Monies as directed and
specified by the Officer’s Certificate. 
 Section 13.06 Disposition of Notes Retired. 

All Notes received by the Trustee and for whose purchase Trust Monies are applied under Section 13.05, if not otherwise cancelled,
shall be promptly delivered to the Registrar for cancellation and destruction in accordance with the Registrar’s customary procedures. 
 ARTICLE 14 
 MISCELLANEOUS 

Section 14.01 Intentionally Omitted. 
 Section 14.02 Notices. 
 (a) Any notice, direction, request,
instruction, document, or communication by the Issuer, any Guarantor or the Trustee to the others is duly given if in writing and delivered in Person or by first class mail (registered or certified, return receipt requested), facsimile transmission
electronically in PDF format or overnight air courier guaranteeing next day delivery, to the others’ address: 
 If to
either Issuer and/or any Guarantor: 
 TPC Group Inc. 
 5151 San Felipe, Suite 800 
 Houston, Texas 77056 

Facsimile: (832) 415-0456 
 Attention: Rishi A. Varma 
 Email: Rishi.Varma@tpcgrp.com 

  
 -135-

 With a copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 

New York, New York 10017 
 Facsimile: (212) 455-2502 
 Attention: Edward P. Tolley III, Esq. 

Email: etolley@stblaw.com 
 If to the Trustee or the Collateral Agent: 
 Wells Fargo Bank, National
Association 
 150 East 42nd Street 
 New York, New York 10017 
 Facsimile: 917-260-1593 

Attention: Corporate Trust Services – Administrator for TPC Group, Inc. 

The Issuer, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices
or communications; provided, however, that notices to the Trustee shall only be effective upon actual receipt. 
 (b) All
notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when
receipt acknowledged, if transmitted by facsimile; when sent, if sent electronically in PDF format and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 

(c) Any notice or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by
overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders.

 (d) If a notice or communication is mailed in the manner provided in this Section 14.02 within the time prescribed, it
is duly given, whether or not the addressee receives it. 
 (e) If the Issuer mails a notice or communication to Holders, it
will mail a copy to the Trustee and each Agent at the same time. 
 (f) In respect of this Indenture, the Trustee and Collateral
Agent shall not have any duty or obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such
instructions, directions, reports, notices or other communications or information on behalf of the party purporting to send such electronic transmission; and neither the Trustee nor the Collateral Agent shall have any liability for any

  
 -136-

 
losses, liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such instructions, directions, reports, notices or other
communications or information. Each other party agrees to assume all risks arising out of the use of electronic methods to submit instructions, directions, reports, notices or other communications or information to the Trustee and the Collateral
Agent, including without limitation the risk of the Trustee and the Collateral Agent acting on unauthorized instructions, notices, reports or other communications or information, and the risk of interception and misuse by third parties. 

Section 14.03 Communication by Holders with Other Holders. 
 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Agents and anyone else shall
have the protection of TIA § 312(c). 
 Section 14.04 Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Issuer to the Trustee to take any action under this Indenture (other than in connection with the
Authentication Order, dated the date hereof, and delivered to the Trustee in connection with the issuance of the Initial Notes), the Issuer shall furnish to the Trustee: 

(1) an Officer’s Certificate in form and substance satisfactory to the Trustee (which must include the statements set
forth in Section 14.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel in form and substance satisfactory to the Trustee (which must include the statements set forth
in Section 14.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

Section 14.05 Statements Required in Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture must include substantially: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or
she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

  
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 (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been satisfied. 
 Section 14.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Agents may make reasonable rules and set reasonable
requirements for its functions. 
 Section 14.07 No Personal Liability of Directors, Officers, Employees and Stockholders.

 To the extent permitted by law, no past, present or future director, manager, officer, employee, incorporator, stockholder or
member of the Issuer, any parent of the Issuer or any Subsidiary, as such, will have any liability for any obligations of the Issuer or the Guarantors under the Notes, this Indenture, the Note Guarantees or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 14.08 Governing Law. 
 (a) THIS INDENTURE, THE NOTES, AND THE NOTE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

(b) Each party hereto irrevocably and unconditionally submits to the jurisdiction of the Supreme Court of the State of New York sitting
in the Borough of Manhattan, New York County and of the United States District Court of the Southern District of New York sitting in the Borough of Manhattan, and any appellate court from any jurisdiction thereof, in any action or proceeding arising
out of or relating to this Indenture, the Notes or the Note Guarantees, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each party hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Indenture shall affect any right that any party hereto or any Secured Party may otherwise have to bring any action or proceeding relating to this Indenture
against any party hereto or its properties in the courts of any jurisdiction. 
 (c) Each party hereto irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Indenture in any court
referred to in Section 14.08(b) hereto. Each party hereto irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 14.02 hereof, such
service to be effective upon receipt. Nothing in this Indenture will affect the right of any party hereto or any Secured Party to serve process in any other manner permitted by law. 

  
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 Section 14.09 Successors. 

All agreements of the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture
will bind its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 10.04. 
 Section 14.10 Severability. 
 In case any provision in this Indenture
or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 
 Section 14.11 Counterpart Originals. 
 The parties may sign any number
of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original
signatures for all purposes. 
 Section 14.12 Table of Contents, Headings, etc. 

The Table of Contents, Cross–Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 
 Section 14.13 Waiver of Immunity 
 To the extent that any of the Issuer
or the Guarantors has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution or execution, on the ground of
sovereignty or otherwise) with respect to itself or its property, it hereby irrevocably waives, to the fullest extent permitted by applicable law, such immunity in respect of its obligations under this Indenture, Note and/or Note Guarantees.

 Section 14.14 Waiver of Jury Trial 
 ALL PARTIES HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES, THE NOTE GUARANTEES, THE SECURITY DOCUMENTS, THE INTERCREDITOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

  
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 Section 14.15 U.S.A. Patriot Act 

The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial
institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

[Signatures on following page] 

  
 -140-

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

			
	TPC GROUP INC.
		
	By:	 	 /s/ Miguel A. Desdin

	Name:	 	Miguel A. Desdin
	Title:	 	Senior Vice President and Chief Financial Officer
	
	TPC GROUP LLC
		
	By:	 	 /s/ Rishi A. Varma

	Name:	 	Rishi A. Varma
	Title:	 	Vice President, General Counsel and Secretary
	
	TP CAPITAL CORPORATION
		
	By:	 	 /s/ Rishi A. Varma

	Name:	 	Rishi A. Varma
	Title:	 	Vice President, General Counsel and Secretary
	
	TEXAS BUTYLENE CHEMICAL CORPORATION
		
	By:	 	 /s/ Rishi A. Varma

	Name:	 	Rishi A. Varma
	Title:	 	Vice President, General Counsel and Secretary
	
	TEXAS OLEFINS DOMESTIC-INTERNATIONAL SALES CORPORATION
		
	By:	 	 /s/ Rishi A. Varma

	Name:	 	Rishi A. Varma
	Title:	 	Vice President, General Counsel and Secretary
	
	PORT NECHES FUELS, LLC
		
	By:	 	 /s/ Rishi A. Varma

	Name:	 	Rishi A. Varma
	Title:	 	Vice President, General Counsel and Secretary

 [Indenture] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Martin G. Reed

	Name:	 	Martin G. Reed
	Title:	 	Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	 /s/ Martin G. Reed

	Name:	 	Martin G. Reed
	Title:	 	Vice President

 [Indenture] 

 EXHIBIT A1 
 [Face of 144A Global Note] 
 [Insert the Global Note Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

  
  
 CUSIP/ISIN 89236Y AA2/ US89236YAA29 
 8.750% Senior Secured Note due 2020

  

					
	 No.        
	 		 	$            

 TPC Group Inc. 
 5151 San Felipe, Suite 800 
 Houston, Texas 77056 

promise to pay to CEDE & CO. or registered assigns, 
 the principal sum of              DOLLARS on December 15, 2020. 
 Interest Payment Dates: June 15 and December 15 
 Record Dates:
June 1 and December 1 
 Dated: December 20, 2012 

  
 A1-1

 
			
	 TPC GROUP INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 This is one of the Notes referred to
 in the within–mentioned Indenture:

	
	
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

			
		
	By:	 	  

		 	Authorized Signatory

  
 A1-2

 [Back of 144A Global Note] 

8.75% Senior Secured Notes due 2020 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. TPC Group Inc., a Delaware corporation (the “Issuer”), promises to pay interest on the principal amount of this Note at 8.75% per annum from December 20,
2012 until maturity. The Issuer will pay interest semi–annually in arrears on June 15 and December 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from December 20, 2012 until the principal hereof is due. The first Interest Payment Date shall be
June 15, 2013. The Issuer will pay interest on overdue principal at the rate borne by the Notes, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. Interest will be computed on the basis of a
360–day year of twelve 30–day months. 
 (2) METHOD OF PAYMENT. The Issuer will pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders at the close of business on the June 1 or December 1 immediately preceding the Interest Payment Date (whether or not a Business Day), even if such Notes are canceled
after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. Payments in respect of Notes represented by Global Notes (including principal, premium,
if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuer will make all payments in respect of a Definitive Note (including
principal, premium, if any, and interest), at the office of each Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each Holder thereof; provided,
however, that payments on the Notes may also be made in the case of a Holder of at least $1,000,000 aggregate principal amount of Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if
such Holder elects payment by wire transfer by giving written notice to the Trustee or a Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the
Trustee may accept in its discretion). Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

(3) PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as
Paying Agent and Registrar. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of the Issuer’s Subsidiaries may act in any such capacity. 

(4) INDENTURE. The Issuer issued the Notes under an Indenture dated as of December 20, 2012 (the
“Indenture”) among the Issuer, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture.
The Notes are subject to all the terms and provisions of the Indenture, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. 

  
 A1-3

 The Notes are senior secured obligations of the Issuer. This Note is one of the Notes
referred to in the Indenture. The Notes include the Initial Notes and any Additional Notes. The Initial Notes and any Additional Notes are treated as a single class of securities under the Indenture. The Indenture imposes certain limitations on the
ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of
certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make
asset sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

To guarantee the due and punctual payment of the principal and interest on the Notes and all other amounts payable by the Issuer under
the Indenture, the Notes and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Obligations of the Issuer under the Notes on a senior secured basis pursuant to the terms of the Indenture. 
 The Notes shall be secured by Liens and security interests, subject to Permitted Liens, in the Collateral on the terms and conditions set forth in the Indenture, the Intercreditor Agreement and the other
Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Holders of the Note Obligations and the Trustee and the Holders, in each case pursuant to the Security Documents. The Collateral will also secure
obligations under Permitted Additional Pari Passu Obligations and Indebtedness and other Obligations permitted under the Indenture to be secured. 
 Each Holder by accepting this Note consents and agrees to the terms of the Intercreditor Agreement and the other Security Documents as the same may be in effect or may be amended from time to time in
accordance with their terms and the Indenture authorizes and directs the Collateral Agent and the Trustee, as applicable, to enter into the Intercreditor Agreement and the other Security Documents and to perform its obligations and exercise its
rights thereunder in accordance therewith. 
 (5) OPTIONAL REDEMPTION. 

(a) At any time prior to December 15, 2015, the Issuer may on any one or more occasions redeem up to 35% of the aggregate principal
amount of Notes issued under the Indenture at a redemption price of 108.750% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date (subject to the right of Holders on the relevant record date to
receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings; provided that: 
 (1) at least 50% of the aggregate principal amount of Notes issued under the Indenture (excluding Notes held by the Issuer and its Subsidiaries, including the Issuer) remains outstanding immediately after
the occurrence of such redemption (unless all of such Notes are redeemed); and 

  
 A1-4

 (2) the redemption occurs within 180 days of the date of the closing of such
Equity Offering. 
 (b) On or after December 15, 2016, the Issuer may redeem all or a part of the Notes at the redemption
prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest on the Notes redeemed to, but not including, the applicable redemption date, if redeemed during the 12–month period beginning on
December 15 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2016
	  	 	104.375	% 
	 2017
	  	 	102.188	% 
	 2018 and thereafter
	  	 	100.000	% 

 Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable redemption date. 
 (c) During any 12–month period
commencing on the date that is one year after the Issue Date until December 15, 2016, the Issuer will be entitled at its option to redeem up to 10% of the aggregate principal amount of the Notes issued under the Indenture at a redemption price
equal to 103.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
 (d) The Notes will be subject to redemption as a whole, but not
in part, at the option of the Issuer at any time, at 100% of the principal amount, plus accrued and unpaid interest on the Notes to be redeemed to, but not including, the redemption date (subject to the right of Holders on the relevant record date
to receive interest due on the relevant Interest Payment Date). 
 (e) At any time prior to December 15, 2016, the Issuer
may also redeem all or a part of the Notes, at a redemption price equal to 100% of the aggregate principal amount hereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the date of redemption, subject to the
rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (6) MANDATORY
REDEMPTION. 
 The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

  
 A1-5

 (7) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but
not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess of $2,000. 

(8) REPURCHASE AT THE OPTION OF HOLDER. 
 (a) If there is a Change of Control, the Issuer will make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of
$1,000 in excess of $2,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest on the Notes repurchased to, but not including, the date of
purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. Within 30 days following any Change of Control, the Issuer will mail a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture. 
 (b) If the Issuer or a Restricted Subsidiary
of the Issuer consummates any Asset Sales, within ten Business Days of each date on which the aggregate amount of Excess Proceeds exceeds $25.0 million, the Issuer will commence an offer to all Holders and (x) in the case of Net Proceeds from
Notes Priority Collateral, to the holders of any other Permitted Additional Pari Passu Obligations containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets
or (y) in the case of any other Net Proceeds, to all holders of other Pari Passu Payment Lien Obligations containing provisions similar to those set forth in the Indenture with respect to offers to purchase or redeem with the proceeds of sales
of assets (an “Asset Sale Offer”) pursuant to Section 4.08 of the Indenture to purchase the maximum principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as
appropriate, that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the date of purchase, in accordance with
the procedures set forth in the Indenture. To the extent that any Excess Proceeds remain after the consummation of an Asset Sale Offer, the Issuer or any Restricted Subsidiary of the Issuer may use those Excess Proceeds for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as appropriate, tendered into such Asset Sale Offer exceeds the amount of Excess
Proceeds, the Trustee shall select the Notes to be purchased on a pro rata basis. Holders that are the subject of an offer to purchase will receive an Asset Sale Offer from the Issuer prior to any related purchase date and may elect to have
such Notes purchased by completing the form entitled “Option of Holder to Elect Purchase” attached to the Notes. 
 (9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. The transfer of Notes may be
registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any

  
 A1-6

 
taxes and fees required by law or permitted by the Indenture. The Issuer need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the
unredeemed portion of any Note being redeemed in part. Also, the Issuer need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the
corresponding Interest Payment Date. 
 (10) PERSONS DEEMED OWNERS. The registered Holder may be treated as its owner for
all purposes. 
 (11) AMENDMENT, SUPPLEMENT AND WAIVER. The provisions governing amendment, supplement and waiver of any
provision of the Indenture, the Notes or the Note Guarantees are set forth in Article 9 of the Indenture. 
 (12) DEFAULTS
AND REMEDIES. The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. 
 (13)
DISCHARGE AND DEFEASANCE. Subject to certain conditions, the Issuer at any time may terminate some or all of its obligations under the Notes, the Note Guarantees and the Indenture if the Issuer deposits with the Trustee money or Government
Securities for the payment of principal of and interest on the Notes to redemption or maturity, as the case may be. 
 (14)
TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as
if it were not the Trustee. 
 (15) NO RECOURSE AGAINST OTHERS. A director, manager, officer, employee, incorporator,
member or stockholder of the Issuer or any of the Guarantors, as such, will not have any liability for any obligations of the Issuer or the Guarantors under the Notes, the Note Guarantees or the Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

(16) AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent. 
 (17) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(18) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the
Issuer has caused CUSIP numbers to be printed on the Notes, and CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

  
 A1-7

 (19) GOVERNING LAW. THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 A1-8

 The Issuer will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to: 
 TPC Group Inc. 
 5151 San Felipe, Suite 800 
 Houston, Texas 77056 

  
 A1-9

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 (I) or (we) assign and transfer
this Note to: 

                      
                                         
                                      

(Insert assignee’s legal name)  
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s
name, address and zip code)
 and irrevocably 
 appoint                                
                                         
                                         
                                
 to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
 Date: 
  

			
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this Note)

  

	
	 Signature Guarantee*:
                                         
           

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A1-10

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.08 or 4.12 of the Indenture, check the appropriate
box below: 
  

					
	  ̈  Section 4.08
	  	  ̈  Section 4.12

If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.08 or Section 4.12 of the
Indenture, state the amount you elect to have purchased: 
 $         

Date: 
  

					
	 Your Signature:
	 	  
 (Sign exactly as your name appears
on the face of this Note)

  

					
	Tax Identification No.:	 	  

Signature Guarantee*:
                             

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A1-11

 SCHEDULE OF TRANSFERS AND EXCHANGES OF INTERESTS IN THE 144A GLOBAL NOTE* 

The following exchanges of a part of this 144A Global Note for an interest in another Global Note or for a Definitive Note, or exchanges
of a part of another Global Note or Definitive Note for an interest in this 144A Global Note, have been made: 
  

									
	 Date of Transfer or Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Note	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal Amount
of this Global
Note following
such decrease (or
increase)	  	Signature of
authorized
signatory of
Trustee or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	*	This schedule should be included only if the Note is issued in global form 

  
 A1-12

 EXHIBIT A2 
 [Face of Regulation S Global Note] 
 [Insert the Global Note Legend]

 [Insert the Private Placement Legend] 
  

 
 CUSIP/ISIN U8925W AA9/USU8925WAA90

 8.75% Senior Secured Note due 2020 
  

			
	No.         	  	$            

 TPC Group Inc. 
 5151 San Felipe, Suite 800 
 Houston, Texas 77056 

promise to pay to CEDE & CO. or registered assigns, 
 the principal sum of          DOLLARS on December 15, 2020. 
 Interest Payment Dates: June 15 and December 15 
 Record Dates:
June 1 and December 1 
 Dated: December 20, 2012 

  
 A2-1

 
			
	TPC GROUP INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 This is one of the Notes referred to
 in the within mentioned Indenture:

  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A2-2

 [Back of Regulation S Global Note] 

8.75% Senior Secured Note due 2020 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. TPC Group Inc., a Delaware corporation (the “Issuer”), promises to pay interest on the principal amount of this Note at 8.75% per annum from December 20,
2012 until maturity. The Issuer will pay interest semi–annually in arrears on June 15 and December 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from December 20, 2012 until the principal hereof is due. The first Interest Payment Date shall be
June 15, 2013. The Issuer will pay interest on overdue principal at the rate borne by the Notes, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. Interest will be computed on the basis of a
360–day year of twelve 30–day months. 
 (2) METHOD OF PAYMENT. The Issuer will pay interest on the Notes
(except defaulted interest) to the Persons who are registered Holders at the close of business on the June 1 or December 1 immediately preceding the Interest Payment Date (whether or not a Business Day), even if such Notes are canceled
after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. Payments in respect of Notes represented by Global Notes (including principal, premium,
if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuer will make all payments in respect of a Definitive Note (including
principal, premium, if any, and interest), at the office of each Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each Holder thereof; provided, however, that
payments on the Notes may also be made in the case of a Holder of at least $1,000,000 aggregate principal amount of Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects
payment by wire transfer by giving written notice to the Trustee or a Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in
its discretion). Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

(3) PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as
Paying Agent and Registrar. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of the Issuer’s Subsidiaries may act in any such capacity. 

(4) INDENTURE. The Issuer issued the Notes under an Indenture dated as of December 20, 2012 (the
“Indenture”) among the Issuer, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture.
The Notes are subject to all the terms and provisions of the Indenture, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. 

  
 A2-3

 The Notes are senior secured obligations of the Issuer. This Note is one of the Notes
referred to in the Indenture. The Notes include the Initial Notes and any Additional Notes. The Initial Notes and any Additional Notes are treated as a single class of securities under the Indenture. The Indenture imposes certain limitations on the
ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of
certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make
asset sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

To guarantee the due and punctual payment of the principal and interest on the Notes and all other amounts payable by the Issuer under
the Indenture, the Notes and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Obligations of the Issuer under the Notes on a senior secured basis pursuant to the terms of the Indenture. 
 The Notes shall be secured by Liens and security interests, subject to Permitted Liens, in the Collateral on the terms and conditions set forth in the Indenture, the Intercreditor Agreement and the other
Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Holders of the Note Obligations and the Trustee and the Holders, in each case pursuant to the Security Documents. The Collateral will also secure
obligations under Permitted Additional Pari Passu Obligations and Indebtedness and other Obligations permitted under the Indenture to be secured. 
 Each Holder by accepting this Note consents and agrees to the terms of the Intercreditor Agreement and the other Security Documents as the same may be in effect or may be amended from time to time in
accordance with their terms and the Indenture authorizes and directs the Collateral Agent and the Trustee, as applicable, to enter into the Intercreditor Agreement and the other Security Documents and to perform its obligations and exercise its
rights thereunder in accordance therewith. 
 (5) OPTIONAL REDEMPTION. 

(a) At any time prior to December 15, 2015, the Issuer may on any one or more occasions redeem up to 35% of the aggregate principal
amount of Notes issued under the Indenture at a redemption price of 108.750% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date (subject to the right of Holders on the relevant record date to
receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings; provided that: 
 (1) at least 50% of the aggregate principal amount of Notes issued under the Indenture (excluding Notes held by the Issuer and its Subsidiaries, including the Issuer) remains outstanding immediately after
the occurrence of such redemption (unless all of such Notes are redeemed); and 

  
 A2-4

 (2) the redemption occurs within 180 days of the date of the closing of such
Equity Offering. 
 (b) On or after December 15, 2016, the Issuer may redeem all or a part of the Notes at the redemption
prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest on the Notes redeemed to, but not including, the applicable redemption date, if redeemed during the 12–month period beginning on
December 15 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2016
	  	 	104.375	% 
	 2017
	  	 	102.188	% 
	 2018 and thereafter
	  	 	100.000	% 

 Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the
Notes or portions thereof called for redemption on the applicable redemption date. 
 (c) During any 12–month period
commencing on the date that is one year after the Issue Date until December 15, 2016, the Issuer will be entitled at its option to redeem up to 10% of the aggregate principal amount of the Notes issued under the Indenture at a redemption price
equal to 103.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
 (d) The Notes will be subject to redemption as a whole, but not
in part, at the option of the Issuer at any time, at 100% of the principal amount, plus accrued and unpaid interest on the Notes to be redeemed to, but not including, the redemption date (subject to the right of Holders on the relevant record date
to receive interest due on the relevant Interest Payment Date). 
 (e) At any time prior to December 15, 2016, the Issuer
may also redeem all or a part of the Notes, at a redemption price equal to 100% of the aggregate principal amount hereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the date of redemption, subject to the
rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (6) MANDATORY
REDEMPTION. 
 The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

  
 A2-5

 (7) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but
not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess of $2,000. 

(8) REPURCHASE AT THE OPTION OF HOLDER. 
 (a) If there is a Change of Control, the Issuer will make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of
$1,000 in excess of $2,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest on the Notes repurchased to, but not including, the date of
purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. Within 30 days following any Change of Control, the Issuer will mail a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture. 
 (b) If the Issuer or a Restricted Subsidiary
of the Issuer consummates any Asset Sales, within ten Business Days of each date on which the aggregate amount of Excess Proceeds exceeds $25.0 million, the Issuer will commence an offer to all Holders and (x) in the case of Net Proceeds from
Notes Priority Collateral, to the holders of any other Permitted Additional Pari Passu Obligations containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets
or (y) in the case of any other Net Proceeds, to all holders of other Pari Passu Payment Lien Obligations containing provisions similar to those set forth in the Indenture with respect to offers to purchase or redeem with the proceeds of sales
of assets (an “Asset Sale Offer”) pursuant to Section 4.08 of the Indenture to purchase the maximum principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as
appropriate, that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the date of purchase, in accordance with
the procedures set forth in the Indenture. To the extent that any Excess Proceeds remain after the consummation of an Asset Sale Offer, the Issuer or any Restricted Subsidiary of the Issuer may use those Excess Proceeds for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount of Notes and Permitted Additional Pari Passu Obligations or other Pari Passu Payment Lien Obligations, as appropriate, tendered into such Asset Sale Offer exceeds the amount of Excess
Proceeds, the Trustee shall select the Notes to be purchased on a pro rata basis. Holders that are the subject of an offer to purchase will receive an Asset Sale Offer from the Issuer prior to any related purchase date and may elect to have
such Notes purchased by completing the form entitled “Option of Holder to Elect Purchase” attached to the Notes. 
 (9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. The transfer of Notes may be
registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any

  
 A2-6

 
taxes and fees required by law or permitted by the Indenture. The Issuer need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the
unredeemed portion of any Note being redeemed in part. Also, the Issuer need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the
corresponding Interest Payment Date. 
 (10) PERSONS DEEMED OWNERS. The registered Holder may be treated as its owner for
all purposes. 
 (11) AMENDMENT, SUPPLEMENT AND WAIVER. The provisions governing amendment, supplement and waiver of any
provision of the Indenture, the Notes or the Note Guarantees are set forth in Article 9 of the Indenture. 
 (12) DEFAULTS AND
REMEDIES. The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. 
 (13)
DISCHARGE AND DEFEASANCE. Subject to certain conditions, the Issuer at any time may terminate some or all of its obligations under the Notes, the Note Guarantees and the Indenture if the Issuer deposits with the Trustee money or Government
Securities for the payment of principal of and interest on the Notes to redemption or maturity, as the case may be. 
 (14)
TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as
if it were not the Trustee. 
 (15) NO RECOURSE AGAINST OTHERS. A director, manager, officer, employee, incorporator,
member or stockholder of the Issuer or any of the Guarantors, as such, will not have any liability for any obligations of the Issuer or the Guarantors under the Notes, the Note Guarantees or the Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

(16) AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent. 
 (17) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(18) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the
Issuer has caused CUSIP numbers to be printed on the Notes, and CUSIP numbers may be used in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

  
 A2-7

 (19) GOVERNING LAW. THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 The Issuer will furnish to any Holder upon
written request and without charge a copy of the Indenture. Requests may be made to: 
 TPC Group Inc. 

5151 San Felipe, Suite 800 
 Houston, Texas 77056 

  
 A2-8

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 (I) or (we) assign and transfer
this Note to: 
  

                      
                                         
                                         
                               

(Insert assignee’s legal name)
                     
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s
name, address and zip code)
 and irrevocably 
 appoint                                
                                         
                                         
                                         
                       
 to
transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
 Date: 

 

			
	Your Signature:	    	  

		    	(Sign exactly as your name appears on the face of this Note)

 Signature
Guarantee*:                                       
                        
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A2-9

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.08 or 4.12 of the Indenture, check the appropriate
box below: 
  ̈  Section
4.08                                         
                 ̈  Section 4.12 
 If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.08 or Section 4.12 of the Indenture, state the amount you elect to have purchased: 

$             

Date: 
  

					
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this
Note)

 
					
		
	Tax Identification No.:	 	  

 Signature
Guarantee*:                                       
                    
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A2-10

 SCHEDULE OF TRANSFERS AND EXCHANGES OF INTERESTS IN THE REGULATION S GLOBAL NOTE* 

The following exchanges of a part of this Regulation S Global Note for an interest in another Global Note or for a Definitive Note, or
exchanges of a part of another Global Note or Definitive Note for an interest in this Regulation S Global Note, have been made: 
  

									
	 Date of Transfer or Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Note	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal Amount
of this Global
Note following
such decrease (or
increase)	  	Signature of
authorized
signatory of
Trustee or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	*	This schedule should be included only if the Note is issued in global form 

  
 A2-11

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 TPC Group Inc. 

5151 San Felipe, Suite 800 
 Houston, Texas 77056

 Wells Fargo Bank, National Association, 
 as Trustee and Registrar – DAPS Reorg 
 MAC N9303-121 

608
2nd Avenue South 

Minneapolis, MN 55479 
 Telephone No.:
(877) 872-4605 
 Fax No.: (866) 969-1290 
 Email: DAPSReorg@wellsfargo.com 
 Re: 8.75% Senior Secured Notes due
2020 
 Reference is hereby made to the Indenture, dated as of December 20, 2012 (the “Indenture”),
among TPC Group Inc. (the “Issuer”), the Guarantors and Wells Fargo Bank, National Association, as trustee and collateral agent. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

                     ,
(the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $         in such Note[s] or interests (the
“Transfer”),                      to (the “Transferee”), as further specified in Annex A hereto. In connection with
the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A
Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and,
accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own
account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction
meeting the requirements of Rule 144A, and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture and the
Securities Act. 
 2.  ̈ Check if Transferee will take delivery of a
beneficial interest in the Regulation S Global Note or a Restricted Definitive Note pursuant to Regulation S. The 

  
 B-1

 
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is
not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the
Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction
was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or
for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

3.  ̈ Check if Transferee will take delivery of a beneficial interest in a
Restricted Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. 
 (a)  ̈ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; or 
 (b)  ̈ such Transfer is being effected to the Issuer or a subsidiary of the Issuer thereof; or 

(c)  ̈ such Transfer is being effected pursuant to an effective registration statement
under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act. 
 4.  ̈ Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive Note. 

(a)  ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being
effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

 (b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in 

  
 B-2

 
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(c)  ̈ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is
being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 
 This certificate and the statements
contained herein are made for your benefit and the benefit of the Issuer. 
  

			
	  

	 [Insert Name of Transferor]

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 Dated:
                     

Signature Guarantee*:
                                         
                                        

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-3

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
  

							
	(a)	 	 ̈	 	a beneficial interest in the:
				
		 	(i)	 	 ̈	  	144A Global Note (CUSIP                     ), or
				
		 	(ii)	 	 ̈	  	Regulation S Global Note (CUSIP                     ),
or
			
	(b)	 	 ̈	 	a Restricted Definitive Note.
		
	2.	 	After the Transfer the Transferee will hold:
	
	[CHECK ONE]
			
	(a)	 	 ̈	 	a beneficial interest in the:
				
		 	(i)	 	 ̈	  	144A Global Note (CUSIP                     ), or
				
		 	(ii)	 	 ̈	  	Regulation S Global Note (CUSIP                     ),
or
				
		 	(iii)	 	 ̈	  	Unrestricted Global Note (CUSIP                     );
or
			
	(b)	 	 ̈	 	a Restricted Definitive Note; or
			
	(c)	 	 ̈	 	an Unrestricted Definitive Note,
		
		 	in accordance with the terms of the Indenture.

  
 B-4

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 TPC Group Inc. 

5151 San Felipe, Suite 800 
 Houston, Texas 77056

 Wells Fargo Bank, National Association, 
 as Trustee and Registrar – DAPS Reorg 
 MAC N9303-121 

608
2nd Avenue South 

Minneapolis, MN 55479 
 Telephone No.:
(877) 872-4605 
 Fax No.: (866) 969-1290 
 Email: DAPSReorg@wellsfargo.com 
 Re: 8.75% Senior Secured Notes due
2020 
 (CUSIP
                    ) 

Reference is hereby made to the Indenture, dated as of December 20, 2012 (the “Indenture”), among TPC Group Inc.
(the “Issuer”), the Guarantors and Wells Fargo Bank, National Association, as trustee and collateral agent. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                , (the “Owner”) owns and
proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $         in such Note[s] or interests (the “Exchange”). In connection with the
Exchange, the Owner hereby certifies that: 
 1. Exchange of Restricted Definitive Notes or Beneficial Interests in a
Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note 
 (a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”),
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of the Owner’s

  
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beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of
any state of the United States. 
 (c)  ̈ Check if Exchange is from Restricted
Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive
Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the
Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
 (b)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the
Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Note,  ̈ Regulation S Global Note with an equal
principal amount, the Owner hereby certifies 

  
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(i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in
accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the
Securities Act. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer.

  

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     

  
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 EXHIBIT D 
 [FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT GUARANTORS]

 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
            , 200  , among                      (the “New
Guarantor”), TPC Group Inc. (the “Issuer”), each other existing Guarantor under the Indenture referred to below and Wells Fargo Bank, National Association, as trustee under the Indenture referred to below (the
“Trustee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 W I T N E S S E T H 
 WHEREAS, the Issuer and the existing Guarantors have
heretofore executed and delivered to the Trustee an indenture ( as amended, supplemented or otherwise modified, the “Indenture”), dated as of December 20, 2012 providing for the issuance of 8.75% Senior Secured Notes due 2020
(the “Notes”); 
 WHEREAS, Section 4.14 of the Indenture provides that under certain circumstances the New
Guarantor shall execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally Guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set
forth herein (the “Note Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the
Trustee, the Issuer and the existing Guarantors are authorized to execute and deliver this Supplemental Indenture. 
 NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Issuer, the other Guarantors and the Trustee mutually covenant and agree for the equal
and ratable benefit of the Holders as follows: 
 1. DEFINED TERMS. Defined terms used herein without definition shall have the
meanings assigned to them in the Indenture. 
 2. AGREEMENT TO GUARANTEE. The New Guarantor hereby agrees, jointly and severally
with all existing Guarantors (if any), to provide an unconditional Note Guarantee on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture and the Notes
and to perform all of the obligations and agreements of a Guarantor under the Indenture. 
 3. NO RECOURSE AGAINST OTHERS. To
the extent permitted by law, no past, present or future director, manager, officer, employee, incorporator, stockholder or member of the Issuer, any parent of the Issuer or any Subsidiary, as such, will have any liability for any obligations of the
Issuer or the Guarantors under the Notes, this Supplemental Indenture, the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. 

 4. NOTICES. All notices or other communications to the New Guarantor shall be given as
provided in Section 14.02 of the Indenture. 
 5. RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURES PART OF INDENTURE.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture
for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 6.
GOVERNING LAW. THE INDENTURE, THIS SUPPLEMENTAL INDENTURE, THE NOTES AND THE NOTE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

7. ALL PARTIES HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON
CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE INDENTURE, THE NOTES, THE NOTE GUARANTEES, THE SECURITY DOCUMENTS, THE INTERCREDITOR AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 8. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all
purposes. 
 9. EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction
hereof. 
 10. TRUSTEE MAKES NO REPRESENTATION. The Trustee makes no representation as to the recitals contained in this
Supplemental Indenture or any representation as to the validity or sufficiency of this Supplemental Indenture. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated:
            , 20     
  

			
	[NEW GUARANTOR]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	ISSUER:
	
	TPC GROUP INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	EXISTING GUARANTORS:
	
	TPC GROUP LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	TP CAPITAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	TEXAS BUTYLENE CHEMICAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	TEXAS OLEFINS DOMESTIC-INTERNATIONAL SALES CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  
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	PORT NECHES FUELS, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
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