Document:

EX-10.2

 Exhibit 10.2 

FOURTH AMENDMENT TO 

AMENDED AND RESTATED LOAN AGREEMENT 

AND OMNIBUS AMENDMENT 

This FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN AGREEMENT AND OMNIBUS AMENDMENT (this “Amendment”) is
dated as of February 20, 2019, and is entered into by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (“Parent Borrower”), HORIZON GLOBAL AMERICAS INC., a Delaware corporation (“Horizon Americas”)
(f/k/a Cequent Performance Products, Inc., a Delaware corporation and successor by merger with Cequent Consumer Products, Inc., an Ohio corporation), CEQUENT UK LIMITED, a company incorporated in England and Wales with company number 08081641
(“Cequent UK”), CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of Ontario (“Cequent Canada”, and together with Parent Borrower, Horizon Americas and Cequent UK, collectively,
“Borrowers”), HORIZON GLOBAL COMPANY LLC, a Delaware limited liability company (“Horizon Global”), the other Persons party to this Amendment as Obligors, the financial institutions party to this Amendment as
Lenders, and BANK OF AMERICA, N.A., a national banking association, in its capacity as agent for itself and the other Secured Parties (“Agent”). 

WHEREAS, the Borrowers, the other Obligors party hereto, the Agent and the Lenders have entered into that certain Amended and
Restated Loan Agreement dated as of December 22, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”); 

WHEREAS, Parent Borrower, the other Obligors party thereto and Agent entered into that certain ABL Guarantee and Collateral
Agreement dated as of June 30, 2015 (the “ABL Guarantee”) in order to secure the Obligations; 

WHEREAS, certain Borrowers, Horizon International Holdings LLC, a Delaware limited liability company, Cequent UK, Cequent
Canada, Cequent Nederland Holdings B.V., a company formed under the laws of the Netherlands, Cequent Mexico Holdings B.V., a company formed under the laws of the Netherlands, Cequent Sales Company de Mexico, S. de R.L. de C.V., a limited
liability company formed under the laws of Mexico, Cequent Electrical Products de Mexico, S. de R.L. de C.V., a limited liability company formed under the laws of Mexico, and Agent entered into that certain Foreign Facility Guarantee and Collateral
Agreement dated as of December 22, 2015 in order to secure the Foreign Facility Obligations; and 
 WHEREAS, the
Borrowers and the other Obligors have requested that the Agent and the Required Lenders agree to enter into certain amendments to the Loan Agreement and ABL Guarantee described below. 

NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in the Loan Documents and this Amendment,
and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Initially capitalized terms used but not otherwise defined in this Amendment have the respective meanings set forth in the Loan
Agreement, as amended hereby. 

  
 1 

 ARTICLE II 

AMENDMENTS TO LOAN AGREEMENT AND GUARANTEE AND COLLATERAL 

AGREEMENT 

2.01        Loan Agreement Amendments. On the Amendment Effective Date (as defined below), the Loan
Agreement is hereby amended with the stricken text deleted (indicated textually in the same manner as the following example: stricken text) and with the double-underlined text added (indicated textually in the same manner as the following example:
double-underlined text) as set forth in the pages of the Credit Agreement
attached as Exhibit A hereto. 
 2.02        Guarantee and Collateral Agreement Amendments. On
the Amendment Effective Date, the definition of “Excluded Property” in Section 1.4 of the Guarantee and Collateral Agreement is hereby amended and restated in its entirety to read as follows: 

““Excluded Property” means (a) any asset, including, without limitation, Accounts and proceeds of Inventory, of any
kind, to the extent that (i) such asset is sold pursuant to any Specified Vendor Receivables Financing and in accordance with the applicable Specified Vendor Receivables Financing Documents and (ii) such sale or intended sale is permitted
by Section 10.2.5(c)(ii) of the Credit Agreement, (b) any asset acquired, constructed or improved pursuant to a capital lease or purchase money indebtedness permitted by Section 10.2.1(a)(viii) of the Credit Agreement,
(c) Excluded Contracts, (d) any Trademark applications filed in the United States Patent and Trademark Office on the basis of such Grantor’s “intent-to-use” such trademark solely to the extent that, and solely during the
period in which, granting a security interest in such Trademark application prior to such filing would adversely affect the enforceability or validity or result in the voiding thereof, unless and until acceptable evidence of use of the Trademark has
been filed with and accepted by the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), whereupon such trademark application will, without any further action taken
on the part of such Grantor or the Agent, be deemed to constitute Collateral, (e) any shares of Voting Stock of any Foreign Subsidiary or CFC in excess of 65% of the issued and outstanding shares of Voting Stock of such Foreign Subsidiary or
CFC (other than any CFC or Foreign Subsidiary organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands), (f) any property or assets for which the creation or perfection of pledges of, or
security interests in, pursuant to the Security Documents would result in material adverse tax consequences to the Obligors, as reasonably determined by the Borrowers in consultation with the Agent, (g) assets in circumstances where the cost of
obtaining a security interest in such assets, including, without limitation, the cost of title insurance, surveys or flood insurance (if necessary) would be excessive in light of the practical benefit to the Secured Parties afforded thereby as
reasonably determined by the Borrowers and the Agent, (h) any asset subject to a purchase money security interest, capital lease obligations or similar arrangement, in each case, to the extent the grant of a security interest therein would
violate or invalidate such purchase money or similar arrangement or create a right of termination in favor of any other party thereto after giving effect to the applicable anti-assignment provisions of the New York UCC or other Applicable Law, other
than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the New York UCC or other applicable law notwithstanding such prohibition, (i) any property of a Person existing at the time such Person is
acquired or merged with or into or consolidated with any Obligor that is subject to a Lien permitted by Section 10.2.2(e) of the Credit Agreement to the extent and for so long as the contract or other agreement in which such Lien is granted
validly prohibits the creation of any other Lien on such property, (j) any Excluded Trust Accounts and (k) Equity Interests in any non-wholly owned Subsidiaries, but only to the extent that (i) the organizational documents or other
agreements with equity holders of such non-wholly owned Subsidiaries do not permit or restrict the pledge of such Equity Interests, or (ii)

  
 2 

 
the pledge of such Equity Interests (including any exercise of remedies) would result in a change of control, repurchase obligation or other adverse consequence to any of the Obligors or such
Subsidiary.” 
 ARTICLE III 

JOINDER OF OBLIGOR 

3.01        Joinder to Loan Agreement. By executing and delivering this Amendment,
Horizon International Holdings LLC, a Delaware limited liability company (the “Additional Obligor”), as provided in Section 10.1.9 of the Loan Agreement, hereby becomes a party to the Loan Agreement as a U.S. Subsidiary Obligor and
U.S. Facility Obligor thereunder with the same force and effect as if originally named therein as a U.S. Subsidiary Obligor and U.S. Facility Obligor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and
liabilities of a U.S. Subsidiary Obligor and U.S. Facility Obligor thereunder. The Additional Obligor hereby represents and warrants that each of the representations and warranties contained in Section 9 of the Loan Agreement are true and
correct in all material respects with respect to the Additional Obligor (other than in the case of representations and warranties qualified by materiality, in which case the Additional Obligor hereby represents and warrants that such representations
and warranties are true and correct with respect to the Additional Obligor in all respects) on and as the date hereof (after giving effect to this Amendment) as if made on and as of such date. 

3.02        Joinder to Master Intercompany Note. By executing and delivering this
Amendment, the Additional Obligor, becomes a “Payor” under that certain Master Intercompany Note dated December 22, 2015 (the “Master Intercompany Note”) and related Note Power (the “Note Power”) and a
“Payee” and “Holder” under the Note Power thereto with the same force and effect as if originally named therein as a “Payor”, “Payee” and/or “Holder” as applicable, and the Additional Obligor
hereby (a) agrees to all of the terms and provisions of the Master Intercompany Note and the Note Power thereto applicable to it as a “Payor”, “Payee” and/or “Holder” thereunder and (b) represents and warrants
that the representations and warranties made by it as a “Payor”, “Payee” and/or “Holder” thereunder are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any
representations and warranties that are already qualified or modified by materiality in the text thereof) on and as of the date hereof. Each reference to a “Payor,” “Payee” and/or “Holder” in the Master
Intercompany Note or the Note Power thereto shall be deemed to include the Additional Obligor. The Master Intercompany Note and Note Power are incorporated herein by reference 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Each Obligor hereby represents and warrants to each Lender and the Agent, as of the date hereof, as of the Amendment Effective
Date, and at each time that the following representations and warranties are made or deemed to be made thereafter, as follows: 

4.01        Authority. The execution, delivery and performance by such Obligor of each
Loan Document described in Section 6.01 hereof, and the transactions contemplated hereby or thereby, have been duly authorized by all necessary action, and this Amendment is a legal, valid and binding obligation of such Obligor enforceable
against such Obligor in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. 
 4.02        Representations and
Warranties. Each representation and warranty of such Obligor in the Loan Documents is true and correct as of the date hereof, after giving effect to this Amendment (except for 

  
 3 

 
representations and warranties that expressly relate to an earlier date and except for the representations and warranties set forth in Section 9.1.4(d) {No Material Adverse Change} and
Section 9.1.15(d) {Solvency} of the Loan Agreement). 
 4.03      Governmental Approvals; No
Conflicts. The execution, delivery, and performance by such Obligor of the Loan Documents described in Section 6.01 hereof (a) do not require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) filings necessary to perfect Liens created under the Loan Documents and (iii) consents, approvals, registrations, filings or
actions the failure of which to obtain or perform could not reasonably be expected to result in a Material Adverse Effect, (b) will not violate any Applicable Law or regulation or the charter, by-laws or other organizational documents of any
Obligor or any Subsidiary of any Obligor or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon any Obligor or any Subsidiary of any Obligor or
their assets, or give rise to a right thereunder to require any payment to be made by any Obligor or any Subsidiary of any Obligor, except for violations, defaults or the creation of such rights that could not reasonably be expected to result in a
Material Adverse Effect, (d) will not result in the creation or imposition of any Lien on any asset of any Obligor or any Subsidiary of any Obligor, except Liens created under the Loan Documents and Liens permitted by Section 10.2.2 of the
Loan Agreement, and (e) do not require any acknowledgement, agreement or consent under any indenture, agreement or other instrument binding upon any Obligor or any Subsidiary of any Obligor or their assets, except for such acknowledgements,
agreements and consents as have been obtained or made and are in full force and effect, and such acknowledgements, agreements or consents the failure of which to obtain could not reasonably be expected to result in a Material Adverse Effect. 

4.04      No Defaults. No Default or Event of Default has occurred and is continuing. 

4.05      Beneficial Ownership Certification. As of the Amendment Effective Date, the information
included in the Beneficial Ownership Certification (as defined in the Loan Agreement after giving effect to this Amendment), if applicable, is true and correct in all respects. 

  
 4 

 ARTICLE V 

CERTIFICATIONS 

The Obligors hereby certify to Agent and Lenders that (a) the Fifth Amendment to Credit Agreement, dated on or about the
date hereof, by and among Parent Borrower, the Term Loan Lenders party thereto, and the Term Loan Agent (the “Term Loan Agreement Amendment”) is not prohibited by Section 10.2.11 of the Loan Agreement, as amended by this
Amendment, and (b) neither the execution or performance of this Amendment nor the incurrence of any Obligations by Obligors pursuant to the Loan Documents violates the Term Loan Documents or the Senior Term Loan Documents (as defined in the
Loan Agreement after giving effect to this Amendment). 
 ARTICLE VI 

CONDITIONS PRECEDENT AND FURTHER ACTIONS 

6.01        Conditions Precedent. This Amendment shall be deemed effective as of the
date first set forth above when each of the following conditions precedent have been satisfied in form and substance satisfactory to the Agent and its counsel (such date, the “Amendment Effective Date”): 

(a)        The Agent shall have received duly executed counterparts of this Amendment
which, when taken together, bear the authorized signatures of the Obligors, the Agent and the Required Lenders; 

(b)        The Agent shall have received fully executed copies of Term Loan Agreement
Amendment, which shall be on terms and conditions satisfactory to Agent and in full force and effect, and all conditions precedent set forth in Section 4 of the Term Loan Agreement Amendment shall have been met or waived by the Term Loan Agent
and/or the Term Loan Lenders in accordance with the terms of the Term Loan Documents. 

(c)        (i) The Agent shall have received fully executed copies (certified by an
officer of Parent Borrower) of the Senior Term Credit Agreement (as defined in the Loan Agreement after giving effect to this Amendment) and other the Senior Term Loan Documents delivered on or about the Amendment Effective Date, which shall be on
terms and conditions satisfactory to Agent and in full force and effect, and all conditions precedent set forth in Section 4.01 of the Senior Term Credit Agreement shall have been met or waived by the Senior Term Loan Agent and/or the
applicable lenders thereunder in accordance with the terms of the Senior Term Loan Documents; and (ii) the Parent Borrower shall have received (or will receive concurrently with the effectiveness of the Amendment) the net proceeds of a
borrowing of not less than $10,000,000 of Senior Term Loans (as defined in the Loan Agreement after giving effect to this Amendment). 

(d)        The Agent shall have received a fully executed copy of the Second Amendment
to Intercreditor Agreement in the form of Exhibit B hereto, which shall be on terms and conditions satisfactory to Agent and in full force and effect. 

(e)        Upon the reasonable request of any Lender made at least five days prior to
the Amendment Effective Date, the Obligors shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with the AML Legislation, including, without
limitation, the PATRIOT Act, in each case at least five days prior to the Amendment Effective Date; 

  
 5 

 (f)        At least five days prior
to the Amendment Effective Date, any Obligor that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall deliver, to each Lender that so requests, a Beneficial Ownership Certification in relation to such
Obligor; and 
 (g)        The Borrowers shall have paid to the Agent, for the
ratable benefit of the Lenders providing their written consent to this Amendment, an amendment fee equal to $30,000, which shall be shared by each consenting Lender in accordance with such consenting Lender’s ratable share of the outstanding
Obligations owing to all consenting Lenders. 
 (h)        The Borrowers shall have
paid all fees and expenses (provided that legal fees required to be paid as a condition precedent to the occurrence of the Amendment Effective Date shall be limited to such legal fees as to which Borrowers have received a summary invoice) owed to
and/or incurred by the Agent in connection with this Amendment. 
 6.02        Further
Actions. Each of the parties to this Amendment agrees that at any time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as such other
party may reasonably request in order to effect the purposes of this Amendment. 
 ARTICLE VII 

REAFFIRMATION 
 Each
Obligor hereby (i) acknowledges and consents to this Amendment; (ii) reaffirms its obligations under the Guaranties, the Security Documents and the other Loan Documents; (iii) reaffirms the Liens granted by it pursuant to the Security
Documents; and (iv) confirms that the Guaranties, the Security Documents and the other Loan Documents remain in full force and effect, without defense, offset or counterclaim. Although each Guarantor has been informed of the terms of the
Amendment, such Guarantor hereby confirms that it understands and agrees that the Agent and the Lenders have no duty to so notify such Guarantor or any other guarantor or to seek this or any future acknowledgment, consent or reaffirmation, and
nothing contained herein shall create or imply any such duty as to any transaction, past or future. 
 ARTICLE VIII 

MISCELLANEOUS 

8.01        Successors and Assigns. This Agreement shall be binding upon and inure to
the benefit of Obligors, Agent, Lenders, Secured Parties, and their respective successors and assigns. The successors and assigns of the Obligors include, without limitation, their respective receivers, trustees, and debtors-in-possession. 

8.02        Further Assurances. Each Obligor party hereto hereby agrees from time to
time, as and when requested by the Agent or any Lender, to execute and deliver or cause to be executed and delivered all such documents, instruments and agreements and to take or cause to be taken such further or other action as the Agent or such
Lender may reasonably deem necessary or desirable in order to carry out the intent and purposes of this Amendment and the other Loan Documents. 

8.03        Loan Document. This Amendment shall be deemed to be a “Loan
Document” for all purposes under the Loan Agreement. 
 8.04        Governing
Law. THIS AMENDMENT AND, UNLESS EXPRESSLY PROVIDED IN ANY LOAN DOCUMENT, ALL CLAIMS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF 

  
 6 

 
NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES EXCEPT FEDERAL LAWS RELATING TO NATIONAL BANKS. 

8.05        Consent to Forum. 

(a)        Forum. EACH OBLIGOR HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF
ANY STATE COURT SITTING IN NEW YORK COUNTY, NEW YORK OR THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, IN ANY DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY
DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH OBLIGOR IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING ANY SUCH COURT’S PERSONAL OR
SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 14.3.1 OF THE
LOAN AGREEMENT. A FINAL JUDGMENT IN ANY PROCEEDING OF ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR ANY OTHER MANNER PROVIDED BY APPLICABLE LAW. 

(b)        Other Jurisdictions. Nothing herein shall limit the right of Agent,
any Security Trustee or any Lender to bring proceedings against any Obligor (other than a Mexican Domiciled Obligor) in any other court, nor limit the right of any party to serve process in any other manner permitted by Applicable Law (except with
respect to service of process to Mexican Domiciled Obligors). Nothing in this Amendment shall be deemed to preclude enforcement by Agent or any Security Trustee of any judgment or order obtained in any forum or jurisdiction. Final judgment against
an Obligor in any action, suit or proceeding shall be conclusive and may be enforced in any other jurisdiction, including the country in which such Obligor is domiciled, by suit on the judgment. 

(c)        Each Mexican Domiciled Obligor waives any right to any jurisdiction (other
than as provided under Section 8.04 above and this Section 8.05) to which they may be entitled under Applicable Law, by reason of its present or future domicile, or otherwise, for the purposes of proceedings against or involving any of the Mexican
Domiciled Obligors, and waives any objection to those courts on the ground of venue or forum non conveniens. 

8.06        Severability. Wherever possible, each provision of this Amendment shall be
interpreted in such manner as to be valid under Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of this Amendment shall remain
in full force and effect. 
 8.07        Entire Agreement. Time is of the essence of
this Amendment. This Amendment constitutes the entire contract among the parties relating to the subject matter hereof, and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. 

8.08        Execution in Counterparts. This Amendment may be executed in counterparts,
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment shall become effective on the Amendment Effective Date. Delivery of a signature page of this 

  
 7 

 
Amendment by telecopy or other electronic means shall be effective as delivery of a manually executed counterpart of such agreement. 

8.09        Costs and Expenses. The Borrowers agree to reimburse Agent for all fees,
costs and expenses, including the reasonable fees, costs and expenses of counsel or other advisors for advice, assistance, or other representation in connection with this Amendment. 

8.10        Reference to and Effect upon the Loan Documents. The amendments and
modifications described in this Amendment shall apply and be effective only with respect to the provisions of the Loan Agreement, Master Intercompany Note, Note Power and ABL Guarantee specifically identified in this Amendment. Except as expressly
amended herein, the Loan Agreement and the other Loan Documents shall continue in full force and effect in accordance with the provisions thereof, and are hereby ratified and confirmed. In each case except as expressly provided in this Amendment,
the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or any Lender under any of the Loan Documents, nor constitute a waiver or amendment of any provision of any of the Loan
Documents. Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the
Loan Agreement as amended hereby. 
 8.11        Authorizations and Instructions.
Effective immediately upon their execution of this Amendment, the Lenders party thereto, which collectively constitute the Required Lenders, hereby authorize the Agent, in its discretion, to defer issuing directions to implement the sweeping of
ledger balances in the Dominion Accounts of the Borrowers to a date not later than February 22, 2019 if a Dominion Trigger Period occurs prior to such date and the Amendment Effective Date has not yet occurred. The Lenders party thereto, which
collectively constitute the Required Lenders, hereby instruct and authorize the Agent, solely in its capacity as the Administrative Agent, to execute and deliver on the Amendment Effective Date the Second Amendment to Intercreditor Agreement in the
form of Exhibit B hereto. 
 8.12        Section Headings. The section headings herein
are for convenience of reference only, and shall not affect in any way the interpretation of any of the provisions hereof. 
 Balance of Page
Intentionally Left Blank 
 Signature Pages Follow 

  
 8 

 IN WITNESS WHEREOF, duly authorized representatives of the parties have
executed this Amendment and the parties have delivered this Amendment, each as of the day and year first written above. 
  

	
	 OBLIGORS:
  

HORIZON GLOBAL CORPORATION,
 a
Delaware corporation, as a U.S. Borrower, a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor, a UK Facility Obligor and the Borrower Agent

 
 By: /s/
Brian Whittman                                      
      
 Name: Brian Whittman

Title: Vice President, Finance
  

	 HORIZON GLOBAL AMERICAS INC.,

a Delaware corporation, as a U.S. Borrower, a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian Facility Guarantor, a Canadian
Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor
  

By: /s/ Brian Whittman                    
                        
 Name:
Brian Whittman
 Title: Vice President, Finance
  

	 CEQUENT UK LIMITED, a company incorporated in England and Wales with company number 08081641, as UK Borrower, a UK Facility
Obligor, a Canadian Facility Guarantor and a Canadian Facility Obligor
  

By: /s/
Jay Goldbaum                                      
      
 Name: Jay Goldbaum

Title: Director
  

CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of Ontario, as Canadian Borrower, a Canadian Facility
Obligor, a UK Facility Guarantor and a UK Facility Obligor
  
 By: /s/
Jay Goldbaum                                      
      
 Name: Jay Goldbaum

Title: Vice President and Secretary
  

[Signatures continue on next page.]

	
	
	 HORIZON GLOBAL COMPANY LLC,

a Delaware limited liability company, as a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian Facility Guarantor, a Canadian Facility
Obligor, a UK Facility Guarantor and a UK Facility Obligor
  
 By:
/s/ Brian Whittman                                    

 Name: Brian Whittman
 Title: Vice
President, Finance
  
 HORIZON INTERNATIONAL HOLDINGS
LLC,
 a Delaware limited liability company, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor, a UK
Facility Obligor, a U.S. Facility Guarantor and a U.S. Facility Obligor
  

	By: /s/ Brian
Whittman                                    
	Name: Brian Whittman
	Title: Vice President, Finance
	
	 CEQUENT NEDERLAND HOLDINGS B.V.,

a company formed under the laws of the Netherlands, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor and
a UK Facility Obligor

	
	By: /s/ Jay Goldbaum                                
    
	Name: Jay Goldbaum
	Title: Director
	
	 CEQUENT MEXICO HOLDINGS B.V.,

a company formed under the laws of the Netherlands, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor and
a UK Facility Obligor

	
	By: /s/ Jay
Goldbaum                                    
	Name: Jay Goldbaum
	 Title: Director
  

[Signatures continue on next page.]

 
	
	 CEQUENT SALES COMPANY DE MEXICO, S. DE R.L. de C.V.,

	 a limited liability company formed under the laws of Mexico, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a
UK Facility Guarantor and a UK Facility Obligor
  

	 By: /s/ Jay
Goldbaum                                        

	 Name: Jay Goldbaum

	 Title: Vice President and Director

 

	 CEQUENT ELECTRICAL PRODUCTS DE MEXICO, S. DE R.L. de C.V.,

	 a limited liability company formed under the laws of Mexico, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a
UK Facility Guarantor and a UK Facility Obligor
  

	 By: /s/ Jay
Goldbaum                                        

	 Name: Jay Goldbaum

	 Title: Vice President and Director

  
  

[Signatures continue on next page.] 

 
	
	 AGENT AND REQUIRED LENDERS:
  

BANK OF AMERICA, N.A.,
 as Agent,
a U.S. Lender, a UK Lender and UK Swingline Lender
  

By: /s/ Kindra M. Mullarky               
                                         
    
 Name: Kindra M. Mullarky

Title: SVP
  

BANK OF AMERICA, N.A. (acting through its Canada branch), as a Canadian Lender and Canadian Swingline Lender

 
 By: /s/ Sylwia
Durkiewicz                                        
                    
 Name: Sylwia
Durkiewicz
 Title: Vice President
  

BANK OF AMERICA, N.A. (acting through its London branch), as UK Security Trustee

 
 By: /s/ Kindra M.
Mullarky                                        
                    
 Name: Kindra M.
Mullarky
 Title: SVP

  
  

[Signatures continue on next page.] 

 
	
	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as a U.S. Lender
  

By: /s/ Nykole Hanna                 
                           

Name: Nykole Hanna
 Title:
Authorized Signatory
  
 WELLS FARGO CAPITAL FINANCE

CORPORATION CANADA, as a Canadian Lender
  

By: /s/ David
G. Phillips                                       
 
 Name: David G. Phillips

Title: Senior Vice President
  

WELLS FARGO BANK, NATIONAL

ASSOCIATION, (London branch), as a UK Lender
  

By: /s/ N B
Hogg                                         
           
 Name: N B Hogg

Title: Authorized Signatory

  
 [Signatures continue on next
page.] 

 EXHIBIT A 

Amendments to Loan Agreement 

{see attached} 

Exhibit A 

Conformed to Fourth Amendment
dated as of February 20, 2019 
  

 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 Dated as of December 22, 2015 
  

 
 HORIZON GLOBAL CORPORATION,

 CEQUENT PERFORMANCE PRODUCTS, INC., and 

CEQUENT CONSUMER PRODUCTS, INC., 

as the U.S. Borrowers, 

CEQUENT UK LIMITED, 
 as
the UK Borrower, 
 CEQUENT TOWING PRODUCTS OF CANADA LTD., 

as the Canadian Borrower, 
 and
the other Obligors party hereto from time to time 
  
  

BANK OF AMERICA, N.A., 
 as
Agent 
  
  

BANK OF AMERICA, N.A., 
 as
Sole Lead Arranger and Sole Bookrunner 
  
  

 

							
	SECTION 1	    	 DEFINITIONS; RULES OF CONSTRUCTION
	  	 	5	 
			
	1.1  	    	 Definitions
	  	 	5	 
	1.2  	    	 Accounting Terms
	  	 	73	 
	1.3  	    	 Uniform Commercial Code/PPSA
	  	 	74	 
	1.4  	    	 Certain Matters of Construction
	  	 	74	 
	1.5  	    	 Currency Equivalents
	  	 	74	 
	1.6  	    	 Interpretation (Québec)
	  	 	75	 
			
	SECTION 2	    	 CREDIT FACILITIES
	  	 	76	 
			
	2.1  	    	 Revolver Commitment
	  	 	76	 
	2.2  	    	 Canadian Letter of Credit Facility
	  	 	81	 
	2.3  	    	 UK Letter of Credit Facility
	  	 	84	 
	2.4  	    	 U.S. Letter of Credit Facility
	  	 	87	 
	2.5  	    	 Resignation of Issuing Banks
	  	 	89	 
	2.6  	    	 Effect of Amendment and Restatement
	  	 	89	 
			
	SECTION 3	    	 INTEREST, FEES AND CHARGES
	  	 	90	 
			
	3.1  	    	 Interest
	  	 	90	 
	3.2  	    	 Fees
	  	 	92	 
	3.3  	    	 Computation of Interest, Fees, Yield Protection
	  	 	93	 
	3.4  	    	 Reimbursement Obligations
	  	 	94	 
	3.5  	    	 Illegality
	  	 	94	 
	3.6  	    	 Inability to Determine Rates
	  	 	95	 
	3.7  	    	 Increased Costs; Capital Adequacy
	  	 	95	 
	3.8  	    	 Mitigation
	  	 	96	 
	3.9  	    	 Funding Losses
	  	 	96	 
	3.10	    	 Maximum Interest
	  	 	97	 
			
	SECTION 4	    	 LOAN ADMINISTRATION
	  	 	98	 
			
	4.1  	    	 Manner of Borrowing and Funding Revolver Loans
	  	 	98	 
	4.2  	    	 Defaulting Lender
	  	 	100	 
	4.3  	    	 Number and Amount of Interest Period Loans; Determination of Rate
	  	 	101	 
	4.4  	    	 Borrower Agent
	  	 	101	 
	4.5  	    	 One Obligation
	  	 	101	 
	4.6  	    	 Effect of Termination
	  	 	102	 
	4.7  	    	 Limitation on Borrowings
	  	 	102	 
			
	SECTION 5	    	 PAYMENTS
	  	 	103	 
			
	5.1  	    	 General Payment Provisions
	  	 
	103
	 

	5.2  	    	 Repayment of Revolver Loans
	  	 
	103
	 

	5.3  	    	 Payment of Other Obligations
	  	 
	103
	 

	5.4  	    	 Marshaling; Payments Set Aside
	  	 
	103
	 

	5.5  	    	 Application and Allocation of Payments
	  	 	104	 
	5.6  	    	 Dominion Account
	  	 	108	 
	5.7  	    	 Account Stated
	  	 	108	 
	5.8  	    	 Taxes
	  	 	108	 
	5.9  	    	 Lender Tax Information
	  	 	117	 
	5.10	    	 Nature and Extent of Each Borrower’s Liability
	  	 	119	 

							
	5.11	    	 Currency Matters
	  	 	124	 
			
	SECTION 6	    	 CONDITIONS PRECEDENT
	  	 	125	 
			
	6.1   	    	 Conditions Precedent to Closing Date
	  	 	125	 
	6.2   	    	 Conditions Precedent to All Credit Extensions
	  	 	127	 
			
	SECTION 7	    	 COLLATERAL
	  	 	127	 
			
	7.1   	    	 Grant of Security Interest
	  	 	127	 
	7.2   	    	 Cash Collateral
	  	 	128	 
	7.3   	    	 Collateral Assignment of Leases
	  	 	128	 
	7.4   	    	 Limitations
	  	 	128	 
			
	SECTION 8	    	 COLLATERAL ADMINISTRATION
	  	 	128	 
			
	8.1   	    	 Borrowing Base Reports; Reallocation of U.S. Availability
	  	 	128	 
	8.2   	    	 Accounts
	  	 	129	 
	8.3   	    	 Inventory
	  	 	130	 
	8.4   	    	 [Reserved.]
	  	 
	130
	 

	8.5   	    	 Deposit Accounts
	  	 
	130
	 

	8.6   	    	 General Provisions
	  	 
	130
	 

			
	SECTION 9	    	 REPRESENTATIONS AND WARRANTIES
	  	 	131	 
			
	9.1   	    	 General Representations and Warranties
	  	 	131	 
			
	SECTION 10	    	 COVENANTS AND CONTINUING AGREEMENTS
	  	 	141	 
			
	10.1  	    	 Affirmative Covenants
	  	 	141	 
	10.2  	    	 Negative Covenants
	  	 	153	 
	10.3  	    	 Financial Covenant
	  	 	165	 
			
	SECTION 11	    	 EVENTS OF DEFAULT; REMEDIES ON DEFAULT
	  	 	165	 
			
	11.1  	    	 Events of Default
	  	 	165	 
	11.2  	    	 Remedies upon Default
	  	 	168	 
	11.3  	    	 License
	  	 	169	 
	11.4  	    	 Setoff
	  	 	169	 
	11.5  	    	 Remedies Cumulative; No Waiver
	  	 	170	 
			
	SECTION 12	    	 AGENT
	  	 	170	 
			
	12.1  	    	 Appointment, Authority and Duties of Agent
	  	 	170	 
	12.2  	    	 Security Trustees
	  	 	172	 
	12.3  	    	 Agreements Regarding Collateral and Borrower Materials
	  	 	175	 
	12.4  	    	 Reliance By Agent
	  	 	177	 
	12.5  	    	 Action Upon Default
	  	 	178	 
	12.6  	    	 Ratable Sharing
	  	 	178	 
	12.7  	    	 Indemnification
	  	 	178	 
	12.8  	    	 Successor Agent and Co-Agents
	  	 	178	 
	12.9  	    	 Limitation on Responsibilities of Agent
	  	 	179	 
	12.10	    	 Due Diligence and Non-Reliance
	  	 	179	 
	12.11	    	 Remittance of Payments and Collections
	  	 	180	 

  
 -2- 

							
	12.12	    	 Individual Capacities
	  	 	180	 
	12.13	    	 Titles
	  	 	180	 
	12.14	    	 Bank Product Providers
	  	 	180	 
	12.15	    	 No Third Party Beneficiaries
	  	 	181	 
	12.16	    	 Authorization Regarding Intercreditor Agreement
	  	 	181	 
	12.17	    	 Withholding Taxes
	  	 	181	 
			
	SECTION 13	    	 BENEFIT OF AGREEMENT; ASSIGNMENTS
	  	 	183	 
			
	13.1  	    	 Successors and Assigns
	  	 	183	 
	13.2  	    	 Participations
	  	 	183	 
	13.3  	    	 Assignments
	  	 	184	 
	13.4  	    	 Replacement of Certain Lenders
	  	 	185	 
			
	SECTION 14	    	 MISCELLANEOUS
	  	 	185	 
			
	14.1  	    	 Consents, Amendments and Waivers
	  	 	185	 
	14.2  	    	 Indemnity
	  	 	187	 
	14.3  	    	 Notices and Communications
	  	 	187	 
	14.4  	    	 Performance of Obligors’ Obligations
	  	 	188	 
	14.5  	    	 Credit Inquiries
	  	 	188	 
	14.6  	    	 Severability
	  	 	188	 
	14.7  	    	 Cumulative Effect; Conflict of Terms
	  	 	188	 
	14.8  	    	 Counterparts; Execution
	  	 	189	 
	14.9  	    	 Entire Agreement
	  	 	189	 
	14.10	    	 Relationship with Lenders
	  	 	189	 
	14.11	    	 No Advisory or Fiduciary Responsibility
	  	 	189	 
	14.12	    	 Confidentiality
	  	 	189	 
	14.13	    	 Certifications Regarding Senior Term Loan
Documents and Term Loan Documents
	  	 	190	 
	14.14	    	 GOVERNING LAW
	  	 	190	 
	14.15	    	 Consent to Forum
	  	 	190	 
	14.16	    	 Waivers by Obligors
	  	 	191	 
	14.17	    	 Patriot Act Notice and “Know Your Client/Customer” Checks
	  	 	191	 
	14.18	    	 Canadian Anti-Money Laundering Legislation
	  	 	192	 
	14.19	    	 NO ORAL AGREEMENT
	  	 	192	 
	14.20	    	 Process Agent
	  	 	192	 

 LIST OF EXHIBITS AND SCHEDULES 

 

			
	 Exhibit A
	 	 Assignment

	 Exhibit B
	 	 Assignment Notice

	 Exhibit C-1
	 	 Form of In-Transit Inventory Lien Waiver

	 Exhibit C-2
	 	 Form of Vendor Lien Waiver

	 Exhibit D
	 	 Form of Perfection Certificate

	 Exhibit E
	 	 Form of Special Irrevocable Power of Attorney

	 Exhibit F
	 	 Form of Notice of Borrowing

 

			
	 Schedule 1.1(A)
	    	 Existing Letters of Credit

	 Schedule 1.1(B)
	    	 Commitments of Lenders

  
 -3- 

			
	 Schedule 9.1.3
	    	 Governmental Licenses

	 Schedule 9.1.5
	    	 Real Property

	 Schedule 9.1.6
	    	 Disclosed Matters

	 Schedule 9.1.12
	    	 Subsidiaries

	 Schedule 9.1.13
	    	 Insurance

	 Schedule 9.1.23
	    	 Material Contracts

	 Schedule 10.2.1
	    	 Existing Debt

	 Schedule 10.2.2
	    	 Existing Liens

	 Schedule 10.2.4
	    	 Existing Investments

	 Schedule 10.2.5
	    	 Permitted Asset Dispositions

	 Schedule 10.2.9
	    	 Existing Affiliate Transactions

	 Schedule 10.2.10
	    	 Existing Restrictive Agreements

 AMENDED AND RESTATED LOAN AGREEMENT 

THIS AMENDED AND RESTATED LOAN AGREEMENT is dated as of December 22, 2015 (as amended, restated, supplemented or
otherwise modified from time to time, this “Agreement”), and is by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (“Parent Borrower”), CEQUENT PERFORMANCE PRODUCTS, INC., a Delaware
corporation (“Cequent Performance”), CEQUENT CONSUMER PRODUCTS, INC., an Ohio corporation (“Cequent Consumer”), CEQUENT UK LIMITED, a company incorporated in England and Wales with company number
08081641 (“Cequent UK”), CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of Ontario (“Cequent Canada”, and together with Parent Borrower, Cequent Performance, Cequent
Consumer, and Cequent UK, collectively, “Borrowers”), the other Persons from time to time party to this Agreement as Obligors (as defined herein), the financial institutions party to this Agreement from time to time as Lenders, and
BANK OF AMERICA, N.A., a national banking association, in its capacity as agent for itself and the other Secured Parties (“Agent”). 

R E C I T A L S: 

Parent Borrower, Cequent Performance, Cequent Consumer, certain Lenders, and Agent are party to that certain Loan Agreement
dated as of June 30, 2015 (as amended, restated or otherwise modified prior to the date hereof, the “Original Loan Agreement”), pursuant to which Agent and such Lenders made certain loans and other financial accommodations to
such Borrowers; 
 Borrowers have elected to exercise their rights under Section 2.1.7 of the Original Loan Agreement
to seek an increase in the Commitments up to an aggregate principal amount of $99,000,000 and, subject to the terms and conditions set forth in this Agreement, the Lenders party hereto have agreed to modify their respective Commitments to the levels
described on Schedule 1.1(B) hereto; 
 Borrowers, Lenders and Agent desire to amend in certain respects and restate
in its entirety the Original Loan Agreement as set forth herein; and 
 Borrowers have requested that Lenders provide credit
facilities to Borrowers to finance their mutual and collective business enterprise. Lenders are willing to provide the credit facilities on the terms and conditions set forth in this Agreement. 

  
 -4- 

 NOW, THEREFORE, for valuable consideration hereby acknowledged, the
parties agree that the Original Loan Agreement shall be amended and restated to read in its entirety as set forth herein, and the parties further agree as follows: 

SECTION 1 
 DEFINITIONS;
RULES OF CONSTRUCTION 
 1.1         Definitions. As used herein,
the following terms have the meanings set forth below: 
 “Account” as defined in the UCC or the PPSA, as
applicable, and in any event shall include all rights to payment for goods sold or leased, or for services rendered, whether or not they have been earned by performance. 

“Account Debtor” a Person obligated under an Account, Chattel Paper or General Intangible. 

“Accounts Formula Amount” the Canadian Accounts Formula Amount or the U.S. Accounts Formula Amount, as the
context requires. 
 “Acquisition” a transaction or series of transactions resulting in
(a) acquisition of a business, division or substantially all assets of a Person; (b) record or beneficial ownership of 50% or more of the Equity Interests of a Person; or (c) merger, consolidation or combination of a Borrower or
Subsidiary with another Person. 
 “Acquisition Lease Financing” any sale or transfer by the Parent
Borrower or any Subsidiary of any property, real or personal, that is acquired pursuant to a Permitted Acquisition, in an aggregate amount not to exceed $20,000,000 at any time after the Original Closing Date, which property is rented or leased by
the Parent Borrower or such Subsidiary from the purchaser or transferee of such property, so long as the proceeds from such transaction consist solely of cash. 

“Affiliate” with respect to a specified Person, another Person that directly, or indirectly through one or
more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent
Indemnitees” Agent and its officers, directors, employees, Affiliates, branches, agents and attorneys, including, without limitation, the Security Trustees. 

“Agent Professionals” attorneys, accountants, appraisers, auditors, business valuation experts, environmental
engineers or consultants, turnaround consultants, and other professionals and experts retained by Agent. 
 “Agreed
Security Principles” shall mean, with respect to only the Foreign Facility Obligations and the Foreign Obligors that are not U.S. Obligors, principles in recognition of certain legal and practical difficulties in obtaining effective
guarantees and security from such Foreign Obligors in jurisdictions in which it has been agreed that a Lien on Collateral will be granted in order to secure the Foreign Facility Obligations, and the agreement that in such jurisdictions or with
respect to the Foreign Facility Obligations of such Foreign Obligors: 

(a)        general statutory limitations, financial assistance,
capital maintenance, corporate benefit, corporate interest(vennootschappelijk belang), fraudulent preference, “thin capitalization” rules, tax restrictions or costs, retention of title claims, liquidity maintenance and 

  
 -5- 

 
similar principles may limit the ability of any such Foreign Obligor to provide a guarantee or security or may require that the guarantee or security be limited by an amount or otherwise; 

(b)        the consent of certain supervisory boards, works councils or
other external bodies or persons may be required under Applicable Law in such jurisdiction to enable any such Foreign Obligor to provide a guarantee or security, and such Foreign Obligor shall use best efforts to obtain such consent, but such
guarantee and/or security shall not be required unless such consent has been received; 

(c)        any such Foreign Obligor will not be required to give
guarantees or enter into Security Documents if it would conflict with the fiduciary duties of the directors, officers, managers (or equivalent) of such Foreign Obligor or contravene any legal prohibition or would result in (or in a material risk of)
personal or criminal liability on the part of any directors, officers, managers (or equivalent) of any such Foreign Obligor; 

(d)        the Liens (including, for the avoidance of doubt, the
maximum amount secured thereunder to the extent required by any Applicable Law) securing the Foreign Facility Obligations and the extent of their perfection will be agreed by Agent and the Borrower Agent, taking into account the cost (including
material adverse tax consequences or material adverse effects on interest deductibility and stamp duty, notarization and registration fees) to such Foreign Obligors of providing such Liens so as to ensure that it is not excessive in light of the
benefit accruing to the Foreign Facility Secured Parties; 

(e)        in certain jurisdictions it may be either legally impossible
or impractical (such impossibility or impracticality to be agreed by Agent and the Borrower Agent) to grant guarantees or create Liens over certain categories of assets in which event such guarantees will not be granted and Liens will not be taken
over such assets; provided that, to the extent a change in law makes it possible or practical to grant a Lien where it was previously considered impossible or impractical, such Foreign Obligors will provide such guarantees and/or Liens subject to
these Agreed Security Principles as soon as reasonably practicable; 

(f)        no such Foreign Obligor shall be required to guarantee or
grant Liens to secure the Foreign Facility Obligations to the extent that providing such guarantee or Liens would result in material adverse tax consequences (including creation of any investment in United States property under Section 956 of
the Code) to an Obligor or a Subsidiary of an Obligor, as reasonably determined by Borrower Agent in consultation with Agent; and 

(g)        perfection of Liens, when required, and other legal
formalities will be completed as soon as reasonably practicable and, in any event, within the time periods specified in the relevant Security Documents or this Agreement (as such times may be extended by Agent in its reasonable discretion if the
relevant provision so allows). 
 As of the Closing Date, the Obligors agree that no condition of any of the types described
in the foregoing clauses (a) through (g) exists, and that the Agreed Security Principles shall not, as of the Closing Date, limit the guarantees provided and Liens granted by the Foreign Obligors on the Closing Date. 

“Agreement Currency” as defined in Section 1.5. 

“Allocable Amount” as defined in Section 5.10.3. 

“Alternative Incremental Debt” any Debt incurred by a U.S. Obligor in the form of one or more series of
secured or unsecured bonds, debentures, notes or similar instruments or in the form of loans; provided that 

  
 -6- 

 (a)        if such
Debt is secured, (i) such Debt shall be secured only by a Lien on the Collateral securing the Term Loan Debt having the same priorities in the Term Priority Collateral and the Revolver Priority Collateral as the Term Loan Debt (or on a junior
basis) and shall not be secured by any properties or assets of any Obligor other than the Collateral securing the Term Loan Debt (provided that if such Debt is in the form of loans, it may be secured by Liens on the Collateral only on a
junior basis to the Liens on the Collateral securing the Obligations), (ii) the security agreements relating to such Debt shall be substantially similar to the Term Loan Security Documents (with such differences as are reasonably satisfactory
to Agent and other than, in the case of Debt secured on a junior basis, with respect to priority) and (iii) such Debt shall be subject to a customary intercreditor agreement in form and substance reasonably satisfactory to Agent, 

(b)        such Debt does not mature earlier than the date that is 91
days after the Latest Maturity Date in effect hereunder at the time of incurrence thereof and has a weighted average life to maturity no shorter than the Term Loan Debt with the Latest Maturity Date in effect at the time of incurrence of such Debt,

 (c)        the definitive documentation in respect of such Debt
(i) contains covenants, events of default and other terms that are customary for similar Debt in light of then-prevailing market conditions and (ii) shall not contain additional covenants or events of default not otherwise applicable to
the Term Loan Debt or the Loans or covenants more restrictive than the covenants applicable to the Term Loan Debt or the Loans; provided that the foregoing clause (ii) shall not apply to covenants or events of default applicable only to
periods after the Latest Maturity Date in effect immediately prior to the establishment of such Debt; provided further that any such Debt may include additional covenants or events of default not otherwise applicable to the Term Loan
Debt or the Loans or covenants more restrictive than the covenants applicable to the Term Loan Debt or the Loans in each case prior to the Latest Maturity Date in effect immediately prior to the establishment of such Debt so long as this Agreement
is amended to provide all of the Lenders with the benefits of such additional covenants, events of default or more restrictive covenants, 

(d)        such Debt does not provide for any mandatory prepayment,
redemption or repurchase (other than upon a change of control, fundamental change, conversion or exchange in the case of convertible or exchangeable Debt, customary asset sale or event of loss mandatory offers to purchase, and customary acceleration
rights after an event of default) prior to the date that is 91 days after the Latest Maturity Date in effect hereunder at the time of incurrence of such Debt; provided that any such Debt secured by Liens on a pari passu basis with the Liens
on the Collateral securing the Term Loan Debt (any such Debt, “Pari Passu Alternative Incremental Debt”) may be subject to a mandatory prepayment offer from the Net Proceeds of any event that triggers a mandatory prepayment of the
Term Loan Debt so long as the holders of such Debt receive no more than their ratable share of such prepayment (such ratable share to be calculated by reference to the outstanding amount of such Debt, the outstanding amount of the Term Loan Debt and
the outstanding amount of Pari Passu Permitted Term Loan Refinancing Debt, in each case immediately prior to such prepayment), 

(e)        at the time of incurrence of such Alternative Incremental
Debt, (i) no Default shall have occurred and be continuing hereunder nor any “Default” under and as defined in the Term Loan Agreement, both immediately prior to and immediately after giving effect to the incurrence of such
Alternative Incremental Debt and (ii) the representations and warranties of each Obligor set forth in the Loan Documents and the Term Loan Documents shall be true and 

  
 -7- 

 correct in all material respects (or in all respects if qualified by
materiality) on and as of such date; and 
 (f)        such Debt is
not guaranteed by any Person other than U.S. Obligors. 
 Alternative Incremental Debt will include any Registered Equivalent Notes issued
in exchange therefor. 
 “AML Legislation” as defined in Section 14.17. 

“Anti-Corruption Laws” all laws, rules, and regulations of any jurisdiction applicable to any Borrower or its
Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Applicable Law” all
laws, rules, regulations and governmental guidelines applicable to the Person, conduct, transaction, agreement or matter in question, including all applicable statutory law, common law and equitable principles (including, without limitation, any
banking, exchange control, financial assistance, minimum capitalization, fraudulent conveyance, mandatory labor advice or similar rules or regulations), and all provisions of constitutions, treaties, statutes, rules, regulations, orders and decrees
of Governmental Authorities. 
 “Applicable Lenders” (a) with respect to the Canadian Borrower, the
Canadian Lenders, (b) with respect to the UK Borrower, the UK Lenders, and (c) with respect to the U.S. Borrowers, the U.S. Lenders. 

“Applicable Margin” the margin set forth below, as determined by the average daily Total Availability for the
last Fiscal Quarter: 
  

																									
		 		 		 	U.S. Base Rate	 	Canadian BA	 	Base Rate FILO	 	LIBOR FILO
		 		 	Average Daily	 	Loans, Canadian	 	Rate Loans,	 	Loans	 	Loans
							
		 	 Level
	 	Availability	 	Base Rate Loans	 	LIBOR Revolver	 		 	
							
		 		 		 	and Canadian	 	Loans	 		 	
		 		 		 	Prime Rate	 	(other than the	 		 	
		 		 		 	Loans, UK Base	 	FILO Loans)	 		 	
		 		 		 	Rate Loans	 		 		 	
		 		 		 	(other than the  	 		 		 	
		 		 		 	FILO Loans)	 		 		 	
							
		 	I	 	> $75,000,000	 	0.25%	 	1.25%	 	1.00%	 	2.00%
		 	II	 	> $50,000,000 and <	 	0.50%	 	1.50%	 	1.25%	 	2.25%
		 		 	$75,000,000	 		 		 		 	
		 	III	 	> $25,000,000 and <	 	0.75%	 	1.75%	 	1.50%	 	2.50%
		 		 	$50,000,000	 		 		 		 	
							
		 	 IV
	 	< $25,000,000	 	1.00%	 	2.00%	 	1.75%	 	2.75%

 Until the six-month anniversary of the Original Closing Date, margins shall be determined as if Level III were
applicable. Thereafter, margins shall be subject to increase or decrease by Agent on the first day of the calendar month following each Fiscal Quarter end. If Agent is unable to calculate average daily Total Availability for a Fiscal Quarter due to
Borrowers’ failure to deliver any Borrowing Base Report when required hereunder, then, at the option of Agent or Required Lenders, margins shall be determined as if Level IV were applicable until the first day of the calendar month following
its receipt. 

  
 -8- 

 “Approved Fund” any Person (other than a natural Person)
engaged in making, purchasing, holding or otherwise investing in commercial loans in its ordinary course of activities. 

“Asset Disposition” a sale, lease, license, consignment, transfer or other disposition of Property of an
Obligor, including any disposition in connection with a sale-leaseback transaction or synthetic lease. 

“Assignment” an assignment agreement between a Lender and an Eligible Assignee, in the form of Exhibit A
or otherwise satisfactory to Agent. 
 “Assumed Preferred Stock” any preferred stock or preferred
equity interests of any Person that becomes a Subsidiary after the Original Closing Date; provided that (a) such preferred stock or preferred equity interests exist at the time such Person becomes a Subsidiary and are not created in
contemplation of or in connection with such Person becoming a Subsidiary and (b) the aggregate liquidation value of all such outstanding preferred stock and preferred equity interests shall not exceed $10,000,000 at any time outstanding, less
the aggregate principal amount of Debt incurred and outstanding pursuant to Section 10.2.1(a)(x). 

“Availability Reserve” the Canadian Availability Reserve, the UK Availability Reserve and/or the U.S.
Availability Reserve, as the context requires. 
 “Bail-In Action” means the exercise of any Write-Down and
Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive
2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Bank of America” Bank of America, N.A., a national banking association, and its successors and assigns. 

“Bank of America (Canada)” Bank of America (acting through its Canada branch). 

“Bank of America (London)” Bank of America (acting through its London branch). 

“Bank of America Indemnitees” Bank of America, Bank of America (Canada), Bank of America (London), and their
respective officers, directors, employees, Affiliates, branches, agents and attorneys. 
 “Bank Product”
any of the following products, services or facilities extended to any Borrower or Affiliate of a Borrower by a Lender or any of its Affiliates or branches: (a) Cash Management Services; (b) products under Hedging Agreements; (c) commercial
credit card and merchant card services; (d) Supply Chain Finance Arrangements; and (e) other banking products or services, other than Letters of Credit. 

“Bank Product Reserve” the Canadian Bank Product Reserve, the UK Bank Product Reserve and/or the U.S. Bank
Product Reserve, as the context requires. 
 “Base Incremental Amount” as of any date, an amount equal to
(a) $75,000,00045,000,000 less (b) the aggregate principal amount of Incremental Term Commitments established prior to such date under the Term Loan Agreement in reliance on the Base Incremental Amount less (c) the aggregate

  
 -9- 

 
principal amount of Alternative Incremental Debt established prior to such date in reliance on the Base Incremental Amount. 

“Base Rate” Canadian Base Rate and/or U.S. Base Rate, as the context requires. 

“Base Rate Loan” a Canadian Base Rate Loan, UK Base Rate Loan and/or U.S. Base Rate Loan, as the context
requires. 

1
 “Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation. 

“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is
subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or
Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“Board” the Board of Governors of the Federal Reserve System of the United States of America. 

“Borrowed Money” with respect to any Obligor, without duplication, its (a) Debt that (i) arises
from the lending of money by any Person to such Obligor, (ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments or (iii) accrues interest or is a type upon which interest charges are customarily paid
(excluding trade payables owing in the Ordinary Course of Business); (b) Capital Lease Obligations and (c) reimbursement obligations with respect to letters of credit. 

“Borrower Agent” as defined in Section 4.4. 

“Borrower Group” a group consisting of (a) the Canadian Borrower, (b) the UK Borrower, or
(c) the U.S. Borrowers, as the context requires. 
 “Borrower Group Commitment” with respect to the
commitment of (a) a Canadian Lender, its Canadian Revolver Commitment, (b) a UK Lender, its UK Revolver Commitment and (c) a U.S. Lender, its U.S. Revolver Commitment. The term “Borrower Group Commitments” means
(i) the Borrower Group Commitment of all Canadian Lenders, (ii) the Borrower Group Commitment of all UK Lenders, or (iii) the Borrower Group Commitment of all U.S. Lenders, as the context requires. To the extent any Lender has more
than one Borrower Group Commitment, each such Commitment shall be considered as a separate Commitment for purposes of this definition. 

“Borrower Materials” Borrowing Base Reports, Compliance Certificates and other information, reports,
financial statements and other materials delivered by Borrowers hereunder, as well as other Reports and information provided by Agent to Lenders. 

“Borrowing” a group of Loans that are made or converted together on the same day and have the same interest
option and, if applicable, Interest Period. 
  

1
 Added per Third Amendment. 

  
 -10- 

 “Borrowing Base” (a) the Canadian Borrowing Base,
(b) the UK Borrowing Base, and/or (c) the U.S. Borrowing Base, as the context requires. 
 “Borrowing Base
Report” a report of each Borrowing Base and the Total Borrowing Base by Borrower Agent, on behalf of Borrowers, together with information regarding any retention of title from vendors to UK Borrower, all in form and substance satisfactory
to Agent. 
 “Borrowing Base Trigger Period” the period (a) commencing on the day that an Event of
Default occurs or U.S. Adjusted Availability is less than or equal to, for 2 consecutive Business Days, the lesser of (i) 15% of the U.S. Borrowing Base or (ii) 15% of the aggregate amount of all U.S. Revolver Commitments; and
(b) continuing until no Event of Default exists and, during each of the preceding 30 consecutive days, U.S. Adjusted Availability has been greater than the lesser of (i) 15% of the U.S. Borrowing Base or (ii) 15% of the aggregate
amount of all U.S. Revolver Commitments. 
 “Business Day” any day other than a Saturday, Sunday or other
day on which commercial banks are authorized to close under the laws of, or are in fact closed in, New York City, North Carolina or Illinois, and when used in reference to (a) a LIBOR Loan, the term shall also exclude any day on which dealings
in Dollar deposits are not conducted in the London interbank market, (b) a UK Revolver Loan, the term shall also exclude any day (i) on which banks are not open for the transaction of banking business in London, England and (ii) in
respect of any such UK Revolver Loan denominated in Euros, any day that is not a TARGET Day, and (c) a Canadian Revolver Loan, the term shall also exclude a day on which banks in Toronto, Ontario, Canada are not open for the transaction of
banking business. 
 “Canadian Accounts Formula Amount” 85% of the Value of Canadian Eligible Accounts;
provided, however, that such percentage shall be reduced by 1.0% for each percentage point (or portion thereof) that the Dilution Percent of the Canadian Borrower exceeds 5%. 

“Canadian Allocated U.S. Availability” U.S. Availability designated by the Borrower Agent for application to
the Canadian Borrowing Base. 
 “Canadian Availability” the Canadian Borrowing Base minus the
Canadian Revolver Usage. 
 “Canadian Availability Reserve” the sum (without duplication) of (a) the
Canadian Inventory Reserve; (b) the Canadian Rent and Charges Reserve; (c) the Canadian Bank Product Reserve; (d) the aggregate amount of liabilities secured by Liens upon Canadian Facility Collateral that are (or, in the opinion of
Agent in the exercise of its Permitted Discretion, may be) senior to Agent’s Liens or that Agent in its Permitted Discretion determines may be required to be paid to permit or facilitate exercise of rights or remedies with respect to Canadian
Facility Collateral (but imposition of any such reserve shall not waive an Event of Default arising therefrom), including, without limitation, any such amounts due and not paid for wages or vacation pay (including amounts protected by the Wage
Earner Protection Program Act (Canada)), amounts due and not paid under any legislation relating to workers’ compensation or to employment insurance, all amounts deducted or withheld and not paid and remitted when due under the Income
Tax Act (Canada), amounts currently or past due and not paid for realty, municipal or similar Taxes (to the extent impacting any Canadian Facility Collateral), all amounts currently or past due and not contributed, remitted or paid to any
Canadian Pension Plan or under the Canada Pension Plan or the PBA, and any amounts representing any unfunded liability, solvency deficiency or wind up deficiency with respect to any Canadian Pension Plan or Canadian Multi-Employer Plan and
(e) such additional reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion may elect to impose from time to time; provided the imposition of any such reserves or change in a reserve after the
Closing Date shall not be effective until two (2) Business Days after notice thereof (which may be oral notice, promptly confirmed in writing) to the Borrower Agent unless (i) 

  
 -11- 

 
a Default has occurred and is then continuing, (ii) the reserve or change in reserve is the result of a Lien, senior in priority to Agent’s or the applicable Security Trustee’s
Lien, attached to any Canadian Facility Collateral included in the Canadian Borrowing Base and/or (iii) the changes to any such reserve results solely from mathematical calculations of the amount of such reserve in accordance with the
methodology of calculation previously utilized (in the case of each of which such reserve or change in reserve shall be effective immediately); and provided further that during any such two (2) Business Day notice period, Lenders
shall have no obligations to fund any Canadian Revolver Loan or cause to be issued any Canadian Letter of Credit to the extent that, after giving pro forma effect to the making of such Canadian Revolver Loan or issuance of such Canadian Letter of
Credit and to the establishment of any such new reserve or change in such reserve, a Canadian Overadvance would exist. 

“Canadian BA Rate” with respect to each Interest Period for a Canadian BA Rate Loan, the rate of interest per
annum equal to the average rate applicable to Canadian Dollar bankers’ acceptances having an identical or comparable term as the proposed Canadian BA Rate Loan displayed and identified as such on the display referred to as the “CDOR
Page” (or any display substituted therefor) of Reuter Monitor Money Rates Service as at approximately 10:00 a.m. Toronto time on such day (or, if such day is not a Business Day, as of 10:00 a.m. Toronto time on the immediately preceding
Business Day), provided that if such rate does not appear on the CDOR Page at such time on such date, the rate for such date will be the annual discount rate (rounded upward to the nearest whole multiple of 1/100 of 1%) as of 10:00 a.m. Local Time
on such day at which a Canadian chartered bank listed on Schedule I of the Bank Act (Canada) as selected by Agent is then offering to purchase Canadian Dollar bankers’ acceptances accepted by it having such specified term (or a term as closely
as possible comparable to such specified term). In no event shall the Canadian BA Rate be less than zero. 

“Canadian BA Rate Loan” a Canadian Revolver Loan, or portion thereof, funded in Canadian Dollars and bearing
interest calculated by reference to the Canadian BA Rate. 
 “Canadian Bank Product Reserve” the aggregate
amount of reserves established by Agent from time to time in its Permitted Discretion in respect of Secured Bank Product Obligations for the account of the Canadian Domiciled Obligors and any Affiliate thereof domiciled in Canada. 

“Canadian Base Rate” on any date, the highest of (a) a fluctuating rate of interest per annum equal to
the rate of interest in effect for such day as publicly announced from time to time by Bank of America (Canada) as its “Base Rate”, (b) the sum of 0.50% plus the Federal Funds Rate for such day, and (c) the sum of 1.00% plus the LIBOR
rate for a thirty (30) day Interest Period as of such day. The “Base Rate” is a rate set by Bank of America (Canada) based upon various factors including Bank of America (Canada)’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans made in Dollars in Canada, which may be priced at, above, or below such announced rate. Any change in such rate shall take effect at the opening of business on the
day of such change. In the event Bank of America (Canada) (including any successor or assignee) does not at any time announce a “Base Rate”, clause (a) of Canadian Base Rate shall mean the “Base Rate” (being the rate for
loans made in Dollars in Canada) publicly announced by a Canadian chartered bank listed on Schedule I of the Bank Act (Canada) selected by Agent. In no event shall the Canadian Base Rate be less than zero. 

“Canadian Base Rate Loan” a Canadian Revolver Loan, or portion thereof, funded in Dollars and bearing
interest calculated by reference to the Canadian Base Rate. 
 “Canadian Borrower” Cequent Canada (as
defined in the preamble to this Agreement). 

  
 -12- 

 “Canadian Borrowing Base” on any date of determination, an
amount (expressed in Dollars, based on the Dollar Equivalent thereof) equal to the lesser of (a) the aggregate Canadian Revolver Commitments and (b) the sum of the Canadian Accounts Formula Amount, plus the Canadian Inventory
Formula Amount, plus Canadian Allocated U.S. Availability, minus the Canadian Availability Reserve; provided, however, that no Accounts, Inventory or other Property acquired in a Permitted Acquisition or otherwise outside the
Ordinary Course of Business shall be included in the calculation of the Canadian Borrowing Base until completion of a customary due diligence investigation by Agent, which may in Agent’s sole discretion include applicable field examinations and
appraisals (which shall not be included in the limits on the number of field examinations or appraisals provided in Section 10.1.1) satisfactory to Agent. 

“Canadian Commitment Termination Date” the earliest to occur of (a) the Revolver Termination Date;
(b) the date on which U.S. Borrowers terminate the U.S. Revolver Commitments pursuant to Section 2.1.4; (c) the date on which the U.S. Revolver Commitments are terminated pursuant to Section 11.2; (d) the
date on which Canadian Borrower terminates the Canadian Revolver Commitments pursuant to Section 2.1.4; and (e) the date on which the Canadian Revolver Commitments are terminated pursuant to Section 11.2. 

“Canadian Deposit Account Control Agreement” a control agreement (whether in the form of an agreement, notice
and acknowledgement or like instrument) satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor in favor of Agent or Security Trustee as security for the Canadian Facility Obligations of such Obligor. 

“Canadian Dollars or Cdn$” the lawful currency of Canada. 

“Canadian Domiciled Obligor” Canadian Borrower and each Canadian Subsidiary that is or is required to be
liable for payment of any Foreign Facility Obligations or that has granted a Lien on its assets in favor of Agent to secure any Foreign Facility Obligations, and “Canadian Domiciled Obligors” means all such Persons, collectively.

 “Canadian Dominion Account(s)” one or more special accounts established by the Canadian Borrower at Bank
of America (Canada) or another bank reasonably acceptable to Agent, and, as required under Section 8.2.4, with respect to which Agent has the right to issue a notice of exclusive control for withdrawal purposes during a Dominion Trigger
Period. 
 “Canadian Eligible Account” an Account owing to Canadian Borrower that arises in the Ordinary
Course of Business from the sale of goods, is payable in Dollars or Canadian Dollars and is deemed by Agent, in its Permitted Discretion, to be a Canadian Eligible Account. Without limiting the foregoing, no Account shall be a Canadian Eligible
Account if (a) it is unpaid for more than 60 days after the original due date, or more than 120 days after the original invoice date; (b) 50% or more of the Accounts owing by the Account Debtor are not Canadian Eligible Accounts under the
foregoing clause; (c) when aggregated with other Accounts owing by the Account Debtor, it exceeds (but solely to the extent of such excess) 15% of the aggregate Canadian Eligible Accounts (or such higher percentage as Agent may establish for
the Account Debtor from time to time); (d) it does not conform with a covenant or representation herein; (e) it is owing by a creditor or supplier, or is otherwise subject to a potential offset, counterclaim, dispute, deduction, discount,
recoupment, reserve, defense, chargeback, credit or allowance (but ineligibility shall be limited to the amount thereof); (f) an Insolvency Proceeding has been commenced by or against the Account Debtor; or the Account Debtor has failed, has
suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, is not Solvent, or is subject to any Sanction or on any specially designated nationals list maintained by OFAC or any other Governmental 

  
 -13- 

 Authority; or Canadian Borrower is not able to bring suit or enforce remedies against
the Account Debtor through judicial process, unless the Account is supported by a letter of credit (delivered to and directly drawable by Agent) from a financial institution reasonably acceptable to Agent and on terms reasonably satisfactory to
Agent; (g) the Account Debtor is organized or has its principal offices or assets outside the United States or Canada, unless the Account is supported by a letter of credit (delivered to and directly drawable by Agent) from a financial
institution reasonably acceptable to Agent and on terms reasonably satisfactory to Agent; (h) it is owing by a Governmental Authority, unless (i) the Account Debtor is the United States or any department, agency or instrumentality thereof
and the Account has been assigned to Agent in compliance with the United States federal Assignment of Claims Act or (ii) the Account Debtor is the government of Canada or a province or territory thereof, or any department, agency or
instrumentality of any such government, and the Account has been assigned to Agent in compliance with the Financial Administration Act (Canada) (or similar Applicable Law of such province or territory), and any other steps necessary to perfect or
render opposable the Lien of Agent on such Account have been complied with to Agent’s satisfaction; (i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any other Lien (other than Permitted
Encumbrances and Liens permitted under Sections 10.2.2(a) and 10.2.2(r) (in each case provided that no such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is prior to the
Lien of Agent, unless a Canadian Availability Reserve is in effect with respect thereto)); (j) the goods giving rise to it have not been delivered to the Account Debtor, the services giving rise to it have not been accepted by the Account
Debtor, or it otherwise does not represent a final sale; (k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; (l) its payment has been extended or the Account Debtor has made a partial
payment; (m) it arises from a sale to an Affiliate, from a sale on a cash-on-delivery, bill-and-hold, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale for personal, family or household purposes;
(n) it represents a progress billing or retainage, or relates to services for which a performance, surety or completion bond or similar assurance has been issued; or (o) it includes a billing for interest, fees or late charges, but
ineligibility shall be limited to the extent thereof. In calculating delinquent portions of Accounts under clauses (a) and (b), credit balances more than 120 days old will be excluded. 

“Canadian Eligible Inventory” Inventory owned by Canadian Borrower that Agent, in its Permitted Discretion,
deems to be Canadian Eligible Inventory. Without limiting the foregoing, no Inventory shall be Canadian Eligible Inventory unless it (a) is finished goods or raw materials or work-in-process and not packaging or shipping materials, labels,
samples, display items, bags, replacement parts or manufacturing supplies; (b) is not held on consignment, nor subject to any deposit or down payment; (c) is in new and saleable condition and is not damaged, defective, shopworn or
otherwise unfit for sale; (d) is not slow-moving, perishable, obsolete or unmerchantable, and does not constitute returned or repossessed goods; (e) meets all standards imposed by any Governmental Authority, has not been acquired from a
Person subject to any Sanction or on any specially designated nationals list maintained by OFAC or any other Governmental Authority, and does not constitute Hazardous Materials under any Environmental Law; (f) conforms with the covenants and
representations herein; (g) is subject to Agent’s duly perfected, first priority Lien, and no other Lien (other than Permitted Encumbrances and Liens permitted under Sections 10.2.2(a) and 10.2.2(r) (in each case provided
that no such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is prior to the Lien of Agent, unless a Canadian Availability Reserve is in effect with respect thereto)); (h) is within
the continental United States or Canada, is not in transit except between locations of Canadian Borrower, and is not consigned to any Person; (i) is not subject to any negotiable document; (j) is not subject to any License or other
arrangement that restricts Canadian Borrower’s or Agent’s right to dispose of such Inventory, unless Agent has received an appropriate Lien Waiver or an appropriate Canadian Rent and Charges Reserve has been established; and (k) is
not located on leased premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the 

  
 -14- 

 
lessor or such Person has delivered a Lien Waiver or an appropriate Canadian Rent and Charges Reserve has been established; and (l) is reflected in the details of a current perpetual
inventory report. 
 “Canadian Employee Plan” any employee benefit plan, policy, program, agreement or
arrangement, including retirement, pension, profit sharing, employment, bonus or other incentive compensation, retention, stock purchase, equity or equity-based compensation, deferred compensation, change in control, severance, sick leave, vacation,
loans, salary continuation, hospitalization, health, life insurance, educational assistance or other fringe benefit or perquisite plan, policy, agreement which is or was sponsored, maintained or contributed to by, or required to be contributed to
by, a Canadian Domiciled Obligor, or with respect to which a Canadian Domiciled Obligor has, or could reasonably be expected to have, any obligation or liability, contingent or otherwise, but excluding the Canada Pension Plan and any provincial or
federal program providing health benefits, employment insurance or workers’ compensation benefits. 
 “Canadian
Facility Collateral” Collateral that now or hereafter secures (or is intended to secure) any of the Canadian Facility Obligations. 

“Canadian Facility Guarantor” each Dutch Domiciled Obligor, each U.S. Domiciled Obligor, each UK Domiciled
Obligor, each Mexican Domiciled Obligor, each Canadian Subsidiary Obligor, and each other Person that guarantees or is required to guarantee payment or performance of the Canadian Facility Obligations (including pursuant to a Foreign
Cross-Guarantee) pursuant to Section 10.1.9 and/or the Collateral and Guarantee Requirement. 

“Canadian Facility Obligations” all Obligations of the Canadian Facility Obligors owed to the Canadian
Facility Secured Parties, and the other Foreign Facility Obligations that are the subject of a cross-Guarantee (including, without limitation, the Foreign Cross-Guarantee) made by the Canadian Facility Obligors. 

“Canadian Facility Obligor” Canadian Borrower, each Canadian Facility Guarantor and each other Person that
has or is required pursuant to Section 10.1.9 and/or the Collateral and Guarantee Requirement to grant a Lien on its assets in favor of Agent to secure any Canadian Facility Obligations. 

“Canadian Facility Secured Parties” Agent, Canadian Issuing Bank, Canadian Lenders, any Security Trustee with
respect to the Canadian Facility Obligations and Secured Bank Product Providers of Bank Products for the account of Canadian Domiciled Obligors and their Affiliates domiciled in Canada, and the other Foreign Facility Secured Parties that are the
beneficiaries of a Foreign Cross-Guarantee made by the Canadian Facility Obligors. 
 “Canadian Guaranties”
each guaranty agreement executed by a Canadian Facility Guarantor in favor of Agent in order to guaranty the payment and/or performance of the Canadian Facility Obligations (including without limitation this Agreement and the Foreign Facility
Guarantee and Collateral Agreement). 
 “Canadian Inventory Formula Amount” (a) the lesser of
(i) 70% of the Value of Canadian Eligible Inventory or (ii) 85% of the NOLV Percentage of the Value of Canadian Eligible Inventory; plus (b) the lesser of (i) 70% of the Value of Eligible In-Transit Inventory owned by Canadian
Borrower, or (ii) 85% of the NOLV Percentage of the Value of Eligible In-Transit Inventory owned by Canadian Borrower; provided that (i) prior to the date that the conditions set forth in clause (b) of the definition of “Eligible
In-Transit Inventory” are met, whether or not an Eligible In-Transit Inventory Trigger Period has occurred and is continuing, the Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Borrowers shall not exceed an
aggregate amount of $10,000,000 at any time and (ii) the 

  
 -15- 

 
Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Foreign Borrowers that is in transit to Mexico shall not exceed an aggregate amount of $2,000,000 at any time. 

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

“Canadian IP Assignment” a collateral assignment or security agreement pursuant to which a Canadian Facility
Obligor grants a Lien on its Intellectual Property to Agent, as security for (or given with the intent to secure) the Canadian Facility Obligations. 

“Canadian Issuing Bank” Bank of America (Canada) (including any Lending Office of Bank of America), any
Affiliate thereof, or any replacement issuer appointed pursuant to Section 2.5 that agrees to issue Canadian Letters of Credit. 

“Canadian Issuing Bank Indemnitees” Canadian Issuing Bank and its officers, directors, employees, Affiliates,
branches, agents and attorneys. 
 “Canadian LC Application” an application by Borrower Agent or Canadian
Borrower to Canadian Issuing Bank for issuance of a Canadian Letter of Credit, in form and substance satisfactory to Canadian Issuing Bank and Agent. 

“Canadian LC Conditions” the following conditions necessary for issuance of a Canadian Letter of Credit:
(a) each of the conditions set forth in Section 6; (b) after giving effect to such issuance, total Canadian LC Obligations do not exceed the Canadian Letter of Credit Subline, no Canadian Overadvance exists and Canadian
Revolver Usage does not exceed the Canadian Borrowing Base; (c) the Canadian Letter of Credit and payments thereunder are denominated in Canadian Dollars, Dollars or other currency satisfactory to Agent and Canadian Issuing Bank; and
(d) the purpose and form of the proposed Canadian Letter of Credit are satisfactory to Agent and Canadian Issuing Bank in their Permitted Discretion. 

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

“Canadian LC Obligations” the Dollar Equivalent of the sum of (a) all amounts owing by Canadian Borrower
for drawings under Canadian Letters of Credit; and (b) the Stated Amount of all outstanding Canadian Letters of Credit. 

“Canadian LC Request” a request for issuance of a Canadian Letter of Credit, to be provided by Borrower Agent
or Canadian Borrower to Canadian Issuing Bank, in form satisfactory to Agent and Canadian Issuing Bank. 
 “Canadian
Lenders” Bank of America (Canada), each other lender party to this Agreement that has issued a Canadian Revolver Commitment, the Canadian Swingline Lender, and any Person who hereafter becomes a “Lender” with a Canadian Revolver
Commitment pursuant to an Assignment, including any Lending Office of the foregoing. Unless an Event of Default shall have occurred and be continuing, each Canadian Lender shall be a financial institution that is listed on Schedule I, II or III of
the Bank Act (Canada), has received an approval to have a financial establishment in Canada pursuant to Section 522.21 of the Bank Act (Canada) or is not a foreign bank for purposes of the Bank Act (Canada) or is not prohibited by Applicable
Law, including the Bank Act (Canada), from having a Canadian 

  
 -16- 

 
Revolver Commitment, or making any Canadian Revolver Loans or having any Canadian LC Obligations under this Agreement, and if such financial institution is not resident in Canada and is not
deemed to be resident in Canada for purposes of the Income Tax Act (Canada), then such financial institution is not a “specified shareholder” of a Canadian Domiciled Obligor and deals at arm’s length with each Canadian Domiciled
Obligor and each “specified shareholder” of each Canadian Domiciled Obligor for purposes of the Income Tax Act (Canada). 

“Canadian Letter of Credit” any standby or documentary letter of credit, foreign guaranty, documentary
bankers acceptance or similar instrument issued by Canadian Issuing Bank for the account or benefit of Canadian Borrower or an Affiliate of Canadian Borrower. 

“Canadian Letter of Credit Subline” the lesser of (a) $0 and (b) the Canadian Revolver Commitments.

 “Canadian Mortgage” a mortgage, deed of immovable hypothec, deed of trust, assignment of leases and
rents, leasehold mortgage or other security document granting a Lien on any Mortgaged Property to secure (or given with the intent to secure) the Canadian Facility Obligations. Each Canadian Mortgage shall be in form and substance reasonably
satisfactory to Agent. 
 “Canadian Multi-Employer Plan” each multi-employer plan, within the meaning of
the regulations under the Income Tax Act (Canada). 
 “Canadian Overadvance” as defined in
Section 2.1.5. 
 “Canadian Overadvance Loan” a Canadian Base Rate Loan and/or a Canadian Prime
Rate Loan made to Canadian Borrower when a Canadian Overadvance exists or is caused by the funding thereof. 

“Canadian Overadvance Loan Balance” on any date, the Dollar Equivalent of the amount by which the aggregate
Canadian Revolver Loans of Canadian Borrower exceed the amount of the Canadian Borrowing Base on such date. 

“Canadian Pension Plan” a “registered pension plan,” as defined in the Income Tax Act
(Canada) and any other pension plan maintained or contributed to by, or to which there is or may be an obligation to contribute by, any Canadian Domiciled Obligor in respect of its Canadian employees or former employees, excluding, for greater
certainty, a Canadian Multi-Employer Plan. 
 “Canadian Prime Rate” on any date, the highest of (i) a
fluctuating rate of interest per annum equal to the rate of interest in effect for such day as publicly announced from time to time by Bank of America (Canada) as its “Prime Rate”, (ii) the sum of 0.50% plus the Bank of Canada
overnight rate, which is the rate of interest charged by the Bank of Canada on one-day loans to financial institutions, for such day, and (iii) the sum of 1.00% plus the Canadian BA Rate for a 30 day Interest Period as of such day. The
“Prime Rate” is a rate set by Bank of America (Canada) based upon various factors including the costs and desired return of Bank of America (Canada), general economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate shall take effect at the opening of business on the day specified in the public announcement of such change. Each interest rate based on the
Canadian Prime Rate hereunder shall be adjusted simultaneously with any change in the Canadian Prime Rate. In the event Bank of America (Canada) (including any successor or assignee) does not at any time announce a “Prime Rate”, clause
(i) of Canadian Prime Rate shall mean the “Prime Rate” (being the rate for loans made in Canadian Dollars in Canada) publicly announced by a Canadian chartered bank listed on Schedule I of the Bank Act (Canada) selected by Agent. In
no event shall the Canadian Prime Rate be less than zero. 

  
 -17- 

 “Canadian Prime Rate Loan” a Canadian Revolver Loan, or
portion thereof, funded in Canadian Dollars and bearing interest calculated by reference to the Canadian Prime Rate. 

“Canadian Protective Advances” as defined in Section 2.1.6. 

“Canadian Reimbursement Date” as defined in Section 2.2.2. 

“Canadian Rent and Charges Reserve” the aggregate of (a) all past due rent and other amounts owing by
Canadian Borrower to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any Canadian Facility Collateral or could assert a Lien on any Canadian Facility Collateral; and
(b) a reserve at least equal to two months’ rent and other charges that could be payable to any such Person, unless it has executed a Lien Waiver. 

“Canadian Revolver Commitment” for any Canadian Lender, its obligation to make Canadian Revolver Loans and to
participate in Canadian LC Obligations up to the maximum principal amount shown on Schedule 1.1(B), as hereafter modified pursuant to Section 2.1.4, Section 2.1.7 or an Assignment to which it is a party.
“Canadian Revolver Commitments” means the aggregate amount of such commitments of all Canadian Lenders. 

“Canadian Revolver Loan” a loan made by a Canadian Lender to Canadian Borrower pursuant to
Section 2.1, which loan shall, if denominated in Canadian Dollars, be either a Canadian BA Rate Loan or a Canadian Prime Rate Loan and, if denominated in Dollars, shall be either a Canadian Base Rate Loan or a LIBOR Loan, in each case as
selected by the Borrower Agent on behalf of the Canadian Borrower, and any Canadian Swingline Loan, Canadian Overadvance Loan or Canadian Protective Advance. 

“Canadian Revolver Usage” the Dollar Equivalent of an amount equal to (a) the aggregate amount of
outstanding Canadian Revolver Loans; plus (b) the aggregate Stated Amount of outstanding Canadian Letters of Credit, except to the extent Cash Collateralized by any Obligor. 

“Canadian Security Agreement” that certain Canadian Security Agreement, dated as of the Closing Date, by and
between Canadian Borrower and Agent, as amended, restated, supplemented or otherwise modified from time to time. 

“Canadian Security Documents” the Foreign Facility Guarantee and Collateral Agreement, the Canadian Security
Agreement, each Deed of Movable Hypothec, if any, among any of the Canadian Facility Obligors and Agent in order to secure any of the Canadian Facility Obligations, the Canadian Guaranties, the Canadian Mortgages, the Canadian IP Assignments, the
Canadian Deposit Account Control Agreements, the Dutch Security Documents, the Mexican Security Documents, the UK Security Documents, the U.S. Security Documents and all other documents, instruments and agreements now or hereafter securing (or given
with the intent to secure) any Canadian Facility Obligations. 
 “Canadian Subsidiary” each Subsidiary that
is incorporated or organized under the laws of Canada or any province or territory of Canada. 
 “Canadian
Subsidiary Obligor” any Subsidiary directly owned by a Canadian Domiciled Obligor that is not an Immaterial Subsidiary, if any. 

“Canadian Swingline Lender” Bank of America (Canada) in its capacity as provider of Canadian Swingline Loans.

  
 -18- 

 “Canadian Swingline Loan” any Borrowing of Canadian
Revolver Loans funded with Canadian Swingline Lender’s funds, until such Borrowing is settled among Canadian Lenders or repaid by Canadian Borrower, which Canadian Revolver Loan shall, if denominated in Canadian Dollars, be a Canadian Prime
Rate Loan and shall, if denominated in Dollars, be a Canadian Base Rate Loan, in each case as selected by the Borrower Agent on behalf of Canadian Borrower. 

“Capital Expenditures” for any period, without duplication, (a) the additions to property, plant and
equipment and other capital expenditures of the Parent Borrower and its consolidated Subsidiaries that are (or would be) set forth in a consolidated statement of cash flows of the Parent Borrower for such period prepared in accordance with GAAP
other than (x) such additions and expenditures classified as Permitted Acquisitions and (y) such additions and expenditures made with Net Proceeds from any casualty or other insured damage or condemnation or similar awards and
(b) Capital Lease Obligations incurred by the Parent Borrower and its consolidated Subsidiaries during such period. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts
under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under
GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided that any change in GAAP after the Original Closing Date that would require lease obligations that would have been
characterized and accounted for as operating leases in accordance with GAAP as in effect on the Original Closing Date to be characterized and accounted for as Capital Lease Obligations shall be disregarded for purposes hereof. 

“Cash Collateral” cash, and any interest or other income earned thereon, that is delivered to Agent or a
Security Trustee to Cash Collateralize any Obligations. 
 “Cash Collateral Account” a Foreign Cash
Collateral Account or a U.S. Cash Collateral Account, as the context requires. 
 “Cash Collateralize” the
delivery of cash to Agent or a Security Trustee, as security for the payment of Obligations, in an amount equal to (a) with respect to any LC Obligations, 103% of the aggregate of such LC Obligations, and (b) with respect to any inchoate,
contingent or other Obligations (including Secured Bank Product Obligations), Agent’s good faith estimate of the amount due or to become due, including fees, expenses and indemnification hereunder. “Cash Collateralization” has
a correlative meaning. 
 “Cash Management Services” services relating to operating, collections, payroll,
trust, or other depository or disbursement accounts, including automated clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services.

 “CCAA” the Companies’ Creditors Arrangement Act (Canada) (or any successor statute), as
amended from time to time, and includes all regulations thereunder. 
 “Cequent Mexico Holdings Share
Pledge” a Dutch law governed notarial deed of pledge over the shares in the capital of Cequent Mexico Holdings B.V., made between UK Borrower as pledgor and Agent as pledgee, as such agreement is amended, restated, supplemented or otherwise
modified from time to time. 

  
 -19- 

 “Cequent Nederland Holdings Share Pledge” a Dutch law
governed notarial deed of pledge over the shares in the capital of Cequent Nederland Holdings B.V., made between Horizon International Holdings LLC as pledgor and Agent as pledgee, as such agreement is amended, restated, supplemented or otherwise
modified from time to time. 
 “CFC” a “controlled foreign corporation” within the meaning of
Section 957 of the Code. 
 “CFC Holdco” any Subsidiary, other than Foreign Subsidiaries,
substantially all the assets of which consist of Equity Interests of one or more Foreign Subsidiaries. 
 “Change in
Control” (a) the acquisition of beneficial ownership, directly or indirectly, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Commission thereunder), of Equity Interests
representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in the Parent Borrower, (b) during any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of Parent Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that
board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose
election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that
board or equivalent governing body, or (c) the occurrence of any change in control (or similar event, however denominated) with respect to the Parent Borrower under (i) any indenture or other agreement in respect of Material Debt to which
the Parent Borrower or any Subsidiary is a party or (ii) any instrument governing any preferred stock of the Parent Borrower or any Subsidiary having a liquidation value or redemption value in excess of $5,000,000. 

“Change in Law” the occurrence, after the Original Closing Date, of (a) the adoption, taking effect or
phasing in 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) by any Governmental Authority; provided, however, that “Change in Law” shall include, regardless of the date enacted, adopted or issued, all requests, rules,
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 for International Settlements, the Basel Committee on
Banking Supervision (or any similar authority) or any other Governmental Authority. 
 “Civil Code” the
Civil Code of Québec, or any successor statute, as amended from time to time, and includes all regulations thereunder. 

“Claims” all claims, liabilities, obligations, losses, damages, penalties, judgments, proceedings, interest,
costs and expenses of any kind (including remedial response costs, reasonable attorneys’ fees and Extraordinary Expenses) at any time (including after Full Payment of the Obligations or replacement of Agent or any Lender) incurred by any
Indemnitee or asserted against any Indemnitee by any Obligor or other Person, in any way relating to (a) any Loans, Letters of Credit, Loan Documents, Borrower Materials, or the use thereof or transactions relating thereto, (b) any action
taken or omitted in connection with any Loan Documents, (c) the existence or perfection of any Liens, or realization upon any Collateral, (d) exercise of any rights or remedies under any Loan Documents or Applicable Law, or (e) failure by
any Obligor to perform or observe any terms of any Loan Document, in each case including all costs and expenses relating to any investigation, litigation, arbitration or other proceeding (including an Insolvency Proceeding or appellate proceedings),
whether or not the applicable Indemnitee is a party thereto. 

  
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 “Closing Date” as defined in Section 6.1. 

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

“Collateral” all Property described in any Security Documents as security for any Obligations and all other
Property that now or hereafter secures (or is intended to secure) any Obligations. 
 “Collateral and Guarantee
Requirement” the Foreign Facility Collateral and Guarantee Requirement and/or the U.S. Facility Collateral and Guarantee Requirement, as the context requires. 

“Commission” the Securities and Exchange Commission or any Governmental Authority succeeding to any or all of
the functions of said Commission. 
 “Commitment” for any Lender, the aggregate amount of such
Lender’s Borrower Group Commitments. “Commitments” means the aggregate amount of all Borrower Group Commitments (not to exceed the Maximum Facility Amount), which on the Closing Date consist of (a) $2,000,000 in respect of
the Canadian Revolver Commitments, (b) $3,000,000 in respect of the UK Revolver Commitments, and (c) $94,000,000 in respect of the U.S. Revolver Commitments. 

“Commitment Termination Date” (a) with respect to the Canadian Revolver Commitments, the Canadian
Commitment Termination Date, (b) with respect to the UK Revolver Commitments, the UK Commitment Termination Date and (c) with respect to the U.S. Revolver Commitments, the U.S. Commitment Termination Date. 

“Commodity Exchange Act” the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to
time, and any successor statute. 
 “Compliance Certificate” a certificate, in form and substance
satisfactory to Agent, by which Borrower Agent certifies compliance with Section 10.3. 
 “Consolidated
EBITDA” for any period, Consolidated Net Income for such period plus (a) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period,
(ii) consolidated income tax expense for such period (including all single business tax expenses imposed by state law), (iii) all amounts attributable to depreciation and amortization for such period, (iv) any extraordinary noncash
charges for such period, (v) interest-equivalent costs associated with any Specified Vendor Receivables Financing for such period, whether accounted for as interest expense or loss on the sale of receivables, and all Preferred Dividends, (vi)
all losses during such period that relate to the retirement of Debt, (vii) noncash expenses during such period resulting from the grant of Equity Interests to management and employees of the Parent Borrower or any of the Subsidiaries,
(viii) the aggregate amount of deferred financing expenses for such period, (ix) all other noncash expenses or losses of the Parent Borrower or any of the Subsidiaries for such period (excluding any such charge that constitutes an accrual
of or a reserve for cash charges for any future period), (x) any nonrecurring fees, expenses or charges realized by the Parent Borrower or any of the Subsidiaries for such period related to any offering of Equity Interests or incurrence of
Debt, whether or not consummated, (xi) fees and expenses in connection with the Original Closing Date Transactions, (xii) any nonrecurring costs and expenses arising from the integration of any business acquired pursuant to any Permitted
Acquisition consummated after the Original Closing Date, (xiii) the amount of reasonably identifiable and factually supportable “run rate” cost savings, operating expense reductions, and other synergies not to exceed $12,500,000
resulting from the Westfalia Acquisition that are projected by the Parent Borrower in good faith and certified by a Financial Officer of the Parent Borrower in writing to the Agent to result from actions either taken or expected to be taken within
eighteen (18) months of the 

  
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Westfalia Acquisition Closing Date, net of the amount of actual benefits realized prior to or during such period from such actions (which cost savings, operating expense reductions, and synergies
shall be calculated on a pro forma basis as though such cost savings, operating expense reductions, or synergies had been realized on the first day of such period), (xiv) any nonrecurring expenses or similar costs relating to cost savings
projects, including restructuring and severance expenses, (xv) net losses from discontinued operations, (xvi) losses associated with the prepayment of leases (whether operating leases or capital leases) outstanding on January 1, 2015
from discontinued operations, and (xvii) losses or charges associated with asset sales otherwise permitted hereunder, minus (b) without duplication and to the extent included in determining such Consolidated Net Income, (i) any
extraordinary gains for such period, (ii) any non-cash income, profits or gains for such period and (iii) any gains realized from the retirement of Debt after the Original Closing Date, all determined on a consolidated basis in accordance
with GAAP; provided, however that the amounts added to Consolidated Net Income pursuant to clauses (xii) through (xvii) above for any period shall not exceed twenty percent (20%) of Consolidated EBITDA for such period (determined without
including amounts added to Consolidated Net Income pursuant to clauses (xii) through (xvii) above for such period). If any Borrower or any Subsidiary has made any Permitted Acquisition or Significant Investment or any sale, transfer, lease
or other disposition of assets outside of the ordinary course of business permitted by Section 10.2.5 during the relevant period for determining any leverage ratio hereunder, Consolidated EBITDA for the relevant period shall be calculated only
for purposes of determining such leverage ratio after giving pro forma effect thereto, as if such Permitted Acquisition or Significant Investment or sale, transfer, lease or other disposition of assets had occurred on the first day of the relevant
period for determining Consolidated EBITDA; provided that with respect to any Significant Investment, (x) any pro forma adjustment made to Consolidated EBITDA shall be in proportion to the percentage ownership of such Borrower or such
Subsidiary, as applicable, in the Subject Person (e.g. if such Borrower acquires 70% of the Equity Interests of the Subject Person, a pro forma adjustment to Consolidated EBITDA shall be made with respect to no more than 70% of the EBITDA of the
Subject Person) and (y) pro forma effect shall only be given to such Significant Investment if the Debt of the Subject Person is included in Total Debt for purposes of calculating the applicable leverage ratio in proportion to the percentage
ownership of such Borrower or such Subsidiary, as applicable, in such Subject Person. Any such pro forma calculations may include operating and other expense reductions and other adjustments for such period resulting from any Permitted Acquisition,
or sale, transfer, lease or other disposition of assets that is being given pro forma effect to the extent that such operating and other expense reductions and other adjustments (a) would be permitted pursuant to Article XI of Regulation S-X
under the Securities Act of 1933 (“Regulation S-X”) or (b) are reasonably consistent with the purpose of Regulation S-X as determined in good faith by the Borrowers in consultation with Agent. 

“Consolidated Net Income” for any period, the net income or loss of the Parent Borrower and the Subsidiaries
for such period, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income of any Person (other than the Parent Borrower or a Significant Investment) in which any other Person (other
than the Parent Borrower or any Subsidiary or any director holding qualifying shares in compliance with Applicable Law) owns an Equity Interest, except to the extent of the amount of dividends or other distributions actually paid to the Parent
Borrower or any of the Subsidiaries during such period, (b) the income or loss of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Parent Borrower or any Subsidiary or the date that such
Person’s assets are acquired by the Parent Borrower or any Subsidiary and (c) the cumulative effect of a change in accounting principles during such period to the extent included in Consolidated Net Income. 

“Contingent Obligation” any obligation of a Person arising from a guaranty, indemnity or other assurance of
payment or performance of any Debt, lease, dividend or other obligation (“primary  

  
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obligations”) of another obligor (“primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person under any
(a) guaranty, endorsement, co-making or sale with recourse of an obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments regardless of nonperformance by any other party to an agreement; and
(c) arrangement (i) to purchase any primary obligation or security therefor, (ii) to supply funds for the purchase or payment of any primary obligation, (iii) to maintain or assure working capital, equity capital, net worth or
solvency of the primary obligor, (iv) to purchase Property or services for the purpose of assuring the ability of the primary obligor to perform a primary obligation, or (v) otherwise to assure or hold harmless the holder of any primary
obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the primary obligation (or, if less, the maximum amount for which such Person may be liable under the
instrument evidencing the Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto. 

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

“Controlled Accounts” each Deposit Account and Securities Account required to be subject to the Lien and
control of Agent or a Security Trustee pursuant to the Loan Documents. 
 “Controlling Term Loan Agent” means (a) Senior Term Loan Agent until the end of the Senior Term Period and (b) Term Loan
Agent at all times thereafter. 
 “Copyrights”
means, with respect to any Person, all of such Person’s right, title, and interest in and to the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright
applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future
infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 

“Credit Party” Agent, a Lender or any Issuing Bank; and “Credit Parties” means Agent,
Lenders and Issuing Banks. 
 “Creditor Representative” under any Applicable Law, a receiver, manager,
controller, interim receiver, receiver and manager, trustee (including any trustee in bankruptcy), custodian, conservator, administrator, examiner, sheriff, monitor, assignee, liquidator, provisional liquidator, sequestrator, administrative
receiver, judicial manager, statutory manager or similar officer or fiduciary. 
 “CTA” the Corporation Tax
Act 2009 (UK), as amended from time to time. 
 “Debt” of any Person means, without duplication,
(a) all obligations of such Person for Borrowed Money or with respect to advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon
which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the
deferred purchase price of property or services (excluding current accounts payable incurred in the Ordinary Course of Business), (f) all Debt of others secured by (or for which the holder of such Debt has an existing right, contingent or
otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Debt secured thereby has been assumed, (g) all Guarantees by such Person of Debt of others, (h) all Capital Lease Obligations of such
Person, (i) all obligations, contingent 

  
 -23- 

 or otherwise, of such Person as an account party in respect of letters of credit and letters
of guaranty and (j) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances. The Debt of any Person shall include the Debt of any other entity (including any partnership in which such Person is a general
partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Debt provide that such Person is not liable therefor.
Notwithstanding anything to the contrary in this paragraph, the term “Debt” shall not include (a) agreements providing for indemnification, purchase price adjustments or similar obligations incurred or assumed in connection
with the acquisition or disposition of assets or Equity Interests and (b) trade payables and accrued expenses in each case arising in the Ordinary Course of Business. 

“Deed of Movable Hypothec” a deed of hypothec charging the movable (personal) property of an Obligor pursuant
to the Civil Code, in the event that any of the Canadian Facility Obligors own movable (personal) property in Quebec. 

“Default” any event or condition which constitutes an Event of Default or which upon notice, lapse of time or
both would, unless cured or waived, become an Event of Default. 
 “Default Rate” for any Obligation
(including, to the extent permitted by law, interest not paid when due), 2% plus the interest rate otherwise applicable thereto. 

“Defaulting Lender” any Lender that (a) has failed to comply with its funding obligations hereunder, and
such failure is not cured within two Business Days; (b) has notified Agent or any Borrower that such Lender does not intend to comply with its funding obligations hereunder or under any other credit facility, or has made a public statement to
that effect; (c) has failed, within three Business Days following request by Agent or any Borrower, to confirm in a manner satisfactory to Agent and Borrowers that such Lender will comply with its funding obligations hereunder; or (d) has,
or has a direct or indirect parent company that has, (i) become the subject of an Insolvency Proceeding (including reorganization, liquidation, or appointment of a receiver, custodian, administrator or similar Person by the Federal Deposit
Insurance Corporation or any other regulatory authority) or (ii) become the subject of a Bail-in Action; provided, however, that a Lender shall not be a Defaulting Lender solely by virtue of a Governmental Authority’s ownership of an
equity interest in such Lender or parent company unless the ownership provides immunity for such Lender from jurisdiction of courts within the United States or from enforcement of judgments or writs of attachment on its assets, or permits such
Lender or Governmental Authority to repudiate or otherwise to reject such Lender’s agreements; and provided further, that a Lender shall not be deemed to be a Defaulting Lender under clauses (a), (b) or (c) if it has notified Agent
and Borrowers in writing that it will not make a funding because a condition to funding (specifically identified in the notice) is not or cannot be satisfied. 

“Deposit Account” (a) any “deposit account” as such term is defined in Article 9 of the UCC
and in any event shall include all accounts and sub-accounts relating to any of the foregoing and (b) with respect to any such Deposit Account located outside of the U.S., any bank account with a deposit function. 

“Deposit Account Control Agreements” the Canadian Deposit Account Control Agreements, the UK Deposit Account
Control Agreements and/or the U.S. Deposit Account Control Agreements, as the context requires. 
 “Dilution
Percent” the percent, determined for each Borrower Group for the most recently ended twelve-month period, equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items
with respect to the Accounts of the Borrower(s) in the 

  
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applicable Borrower Group, divided by (b) gross sales of the Borrower(s) in the applicable Borrower Group. 

“Discharge
 of Senior Obligations” shall have the meaning as defined in the Term Intercreditor Agreement. 

“Disclosed Matters” the actions, suits and proceedings and the environmental matters disclosed in Schedule
9.1.6. 
 “Disqualified Equity Interests” means any Equity Interests that, by their terms (or by the
terms of any security or other Equity Interests into which they are convertible or for which they are exchangeable), or upon the happening of any event or condition (a) matures or are mandatorily redeemable (other than solely for Qualified
Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be
subject to the prior Full Payment of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) are redeemable at the option of the holder thereof (other than solely for Qualified Equity
Interests), in whole or in part, (c) provide for the scheduled payments of dividends in cash, or (d) are or become convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity
Interests, in each case, prior to the date that is 91 days after the Latest Maturity Date with respect to the Obligations. 

“Distribution” any declaration or payment of a distribution, interest or dividend on any Equity Interest
(other than payment-in-kind); distribution, advance or repayment of Debt to a holder of Equity Interests; or purchase, redemption, or other acquisition or retirement for value of any Equity Interest. 

“Document” as defined in the UCC (and/or with respect to any Document of a Canadian Domiciled Obligor, a
“document of title” as defined in the PPSA) or any other Applicable Law, as applicable. 
 “Dollar
Equivalent” on any date, with respect to any amount denominated in Dollars, such amount in Dollars, and with respect to any stated amount in a currency other than Dollars, the amount of Dollars that Agent determines (which determination
shall be conclusive and binding absent manifest error) would be necessary to be sold on such date at the applicable Spot Rate to obtain the stated amount of the other currency. 

“Dollars” lawful money of the United States. 

“Domestic Subsidiary” any Subsidiary, other than the Foreign Subsidiaries. 

“Dominion Account” with respect to (a) the Canadian Borrower, each Canadian Dominion Account,
(b) the UK Borrower, each UK Dominion Account, and (c) the U.S. Borrowers, each U.S. Dominion Account. 

“Dominion Trigger Period”
(I) prior to February 28, 2019, the period (a) commencing on the
dateday that an Event of Default occurs or U.S.
Adjusted, or U.S. Availability is less than or equal to $6,700,000 (computed without reference to the U.S. Special Availability Block), and (b) continuing until the earlier of
(x) February 28, 2019 and (y) no Event of Default having existed and U.S. Availability having been greater than $6,700,000 (computed without reference to the U.S. Special Availability Block) during each of the preceding 30 consecutive
days; or (II) from and after February 28, 2019 (a) commencing on the day that an Event of Default occurs, or U.S. Availability is less than the Dominion

  
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Trigger Threshold and (b) continuing until no Event of Default exists and, during each of the previous 30 consecutive days, U.S. Adjusted Availability has been not less than the Dominion
Trigger Threshold. 
 “Dominion Trigger Threshold” the greater of (a) 10% of the U.S. Revolver
Commitments and (b) $10,000,000. 
 “Dutch Collateral and Guarantee Requirement” subject to any applicable
limitations set forth in the Security Documents and the Agreed Security Principles, with respect to any and all Dutch Domiciled Obligors (provided that the scope of the Lien granted by the Netherland Holdcos (as defined in the Foreign Facility
Guarantee and Collateral Agreement) shall exclude the Netherland Holdco Excluded Property (as defined in the Foreign Facility Guarantee and Collateral Agreement)), the requirement that: 

(a) each Dutch Domiciled Obligor shall have obtained all consents and approvals required to be obtained by it in accordance
with Dutch law and its articles of association in connection with the execution of all Dutch Security Documents to which it is a party, the performance of its obligations thereunder and the granting of the Liens thereunder, and in each case except
to the extent not required to be obtained pursuant to the terms of the Loan Documents; 
 (b) each Dutch Domiciled Obligor
shall have validly executed the notarial power of attorney for the purpose of executing the Dutch Security Document to which it is a party; 

(c) each Dutch Security Document shall have been executed before a Dutch law civil notary (notaris); 

(d) Agent shall have received certified copies of each of the Dutch Security Documents; and 

(e) each Lien which is granted by means of the Dutch Security Documents shall have been registered in the relevant
shareholders register. 
 “Dutch Domiciled Obligors” Cequent Nederland Holdings B.V., a private
company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), incorporated under the laws of the Netherlands, having its registered office (statutaire zetel) in Amsterdam, the Netherlands and registered with
the trade register of the chamber of commerce, under number 34347776, Cequent Mexico Holdings B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), incorporated under the laws of the
Netherlands, having its registered office (statutaire zetel) in Amsterdam, the Netherlands and registered with the trade register of the chamber of commerce, under number 55435637, and each other Obligor organized under the laws of the
Netherlands or any jurisdiction thereof. 
 “Dutch Security Documents” the Cequent Nederland
Holdings Share Pledge and the Cequent Mexico Holdings Share Pledge. 
 “EEA Financial Institution” means
(a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution
described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the
European Union, Iceland, Liechtenstein, and Norway. 

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

“Eligible Accounts” the (a) Canadian Eligible Accounts and/or (b) U.S. Eligible Accounts, as the
context requires. 
 “Eligible Assignee” a Person that is (a) a Lender, Affiliate or branch of a
Lender or Approved Fund; (b) an assignee approved by Borrower Agent (which approval shall not be unreasonably withheld or delayed, and shall be deemed given if no objection is made within two Business Days after notice of the proposed
assignment) and Agent; and (c) during an Event of Default under Section 11.1(a), (b), (h) or (i) (without regard to any waiting period) or any other Event of Default that has occurred and remains continuing for a
period equal to or exceeding 30 days, any Person acceptable to Agent in its Permitted Discretion. 
 “Eligible
Inventory” the (a) Canadian Eligible Inventory, (b) UK Eligible Inventory, and/or (c) U.S. Eligible Inventory, as the context requires. 

“Eligible In-Transit Inventory” Inventory owned by a Borrower that would be Eligible Inventory of such
Borrower if it were not of a type subject to a Document and/or in transit from a foreign location to a location of (x) the Canadian Borrower within the United States or Canada, (y) the UK Borrower within the United States or Mexico or
(z) a U.S. Borrower within the United States, and that Agent, in its Permitted Discretion, deems to be Eligible In-Transit Inventory. Without limiting the foregoing, (a) no Inventory shall be Eligible In-Transit Inventory unless
(i) it is insured in an amount and manner reasonably satisfactory to Agent; (ii) it is not sold by a vendor that has asserted any right to reclaim, divert shipment of, repossess, stop delivery, claim any reservation of title or otherwise
assert Lien rights against the Inventory, or with respect to whom any Borrower is in default of any obligations; (iii) it is subject to purchase orders and other sale documentation satisfactory to Agent, and title has passed to such Borrower;
(iv) it is shipped by a common carrier that is not affiliated with the vendor and is not subject to any Sanction or on any specially designated nationals list maintained by OFAC or any other Governmental Authority; (v) it is being handled
by a customs broker, freight-forwarder or other handler that has delivered a Lien Waiver in the form of Exhibit C-1 (with appropriate modifications to remove the references
to the Senior Term Agent, the Senior Term Loan Documents, the Term Loan Agent and
the Term Loan Documents if such Lien Waiver is delivered with respect to an Obligor that is not a U.S. Obligor) or on terms acceptable to Agent in its Permitted Discretion; and (vi) if purchased from any Affiliate of a Borrower (including
without limitation, TriMas Sourcing B.V. and any successor thereof) or any Affiliate of TriMas Corporation, such Affiliate shall have executed a Lien Waiver in the form of Exhibit C-2 (with appropriate modifications to remove the references
to the Senior Term Agent, the Senior Term Loan Documents, the Term Loan
Agent and the Term Loan Documents if such Lien Waiver is delivered with respect to an Obligor that is not a U.S. Obligor) or on terms acceptable to Agent in its Permitted Discretion; and (b) no Inventory shall be Eligible In-Transit Inventory
during an Eligible In-Transit Inventory Trigger Period unless it (i) satisfies all of the conditions set forth in the foregoing clause (a) and (ii) is subject to a negotiable Document showing Agent or a Security Trustee (or, with the
consent of Agent, the applicable Borrower) as consignee, which Document is in the possession of Agent or such other Person as Agent shall approve. 

“Eligible In-Transit Inventory Trigger Period” the period (a) commencing on the day that (i) an
Event of Default occurs, (ii) U.S. Adjusted Availability is less than or equal to, for 3 consecutive Business Days, the lesser of (A) 30% of the U.S. Borrowing Base or (B) 30% of the aggregate amount of all U.S. Revolver Commitments,
or (iii) U.S. Adjusted Availability is at any time less than or equal to the lesser of 

  
 -27- 

 
(A) 25% of the U.S. Borrowing Base or (B) 25% of the aggregate amount of all U.S. Revolver Commitments; and (b) continuing until no Event of Default exists and, during each of the
preceding 30 consecutive days, U.S. Adjusted Availability has been greater than the lesser of (i) 30% of the U.S. Borrowing Base or (ii) 30% of the aggregate amount of all U.S. Revolver Commitments. 

“Enforcement Action” any action to enforce any 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, setoff or recoupment, credit bid, action in an Obligor’s Insolvency Proceeding or
otherwise). 
 “Environmental Laws” all laws, rules, regulations, codes, ordinances, orders, decrees,
judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or threatened
Release of any Hazardous Material or to health and safety matters. 
 “Environmental Liability” any
liabilities, obligations, damages, losses, claims, actions, suits, judgments, or orders, contingent or otherwise (including any liability for damages, costs of environmental remediation, costs of administrative oversight, fines, natural resource
damages, penalties or indemnities), directly or indirectly resulting from or relating to (a) compliance or non-compliance with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any
Hazardous Materials, (c) any actual or alleged exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing. 
 “Environmental Notice” a notice
(whether written or oral) from any Governmental Authority or other Person of any possible noncompliance with, investigation of a possible violation of, litigation relating to, or potential fine or liability under any Environmental Law, or with
respect to any Release, environmental pollution or Hazardous Materials, including any complaint, summons, citation, order, claim, demand or request for correction, remediation or otherwise. 

“Equity Interest” shares of capital stock, partnership interests, membership interests in a limited liability
company, beneficial interests in a trust or other equity ownership interests in a Person or any warrants, options or other rights to acquire such interests, but excluding any debt securities convertible into or referencing any of the foregoing. 

2
 “ERISA” the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder. 

“ERISA Affiliate” any trade or business (whether or not incorporated) that, together with the Parent
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(b), (c),
(m) or (o) of the Code. 
 “ERISA Event” (a) any “reportable event,” as
defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a U.S. Pension Plan (other than an event for which the 30 day notice period is waived); (b) a failure by any U.S. Pension Plan to satisfy the minimum
funding standards (as defined in Section 412 of the Code or Section 302 of ERISA) applicable to such U.S. Pension Plan in each instance, whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or
Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with 
  

 
 2 Amended per Third
Amendment. 

  
 -28- 

 
respect to any U.S. Pension Plan; (d) a determination that any U.S. Pension Plan is, or is expected to be, in “at risk” status (as defined in Section 430(i)(4) of the
Code or Section 303(i)(4) of ERISA; (e) the incurrence by the Parent Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any U.S. Pension Plan; (f) the receipt by the
Parent Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any U.S. Pension Plan or U.S. Pension Plans or to appoint a trustee to administer any U.S. Pension Plan; (g) the
incurrence by the Parent Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any U.S. Pension Plan or Multiemployer Plan; or (h) the receipt by the Parent Borrower or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the Parent 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, within the meaning of Title IV of ERISA or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA). 

“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market
Association (or any successor person), as in effect from time to time. 
 “Euro” the single currency of the
Participating Member States. 
 “Event of Default” as defined in Section 11. 

“Excluded Account” (a) Excluded Trust Accounts, (b) Deposit Accounts and Securities Accounts of the
Obligors located in the United States, Canada or the United Kingdom and containing not more than $50,000 individually or $250,000 in the aggregate at any time, (c) zero-balance accounts that sweep on a daily basis to an account maintained with
Agent or subject to a Deposit Account Control Agreement and (d) Deposit Accounts and Securities Accounts of the Foreign Domiciled Obligors not located in the United States, Canada or the United Kingdom and containing not more than $300,000
individually or $1,000,000 in the aggregate for any period of time exceeding three (3) consecutive Business Days. 

“Excluded Swap Obligation” with respect to any Obligor, any Swap Obligation if, and to the extent that, and
only for so long as, all or a portion of the guarantee of such Obligor of, or the grant by such Obligor of a security interest to secure, as applicable, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Obligor’s failure to constitute an “eligible contract
participant,” as defined in the Commodity Exchange Act and the regulations thereunder, at the time the guarantee of (or grant of such security interest by, as applicable) such Obligor becomes or would become effective with respect to such Swap
Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such guarantee or security interest is or
becomes illegal. 
 “Excluded Taxes” (a) Taxes imposed on or measured by a Recipient’s net or
overall gross income or net worth or similar Taxes (however denominated), capital Taxes within the meaning of Section 190.1 of the Income Tax Act (Canada) (or similar Taxes imposed by Canada or any political subdivision thereof), franchise
Taxes and branch profits Taxes (i) as a result of such Recipient being organized under the laws of, or having its principal office or applicable Lending Office located in, the jurisdiction imposing such Tax, or (ii) constituting Other
Connection Taxes; (b) in the case of a Lender, any U.S. withholding Taxes imposed on amounts payable to or for the account of a Lender with respect to its interest in a Loan or Commitment pursuant to a law in effect when the Lender
(i) acquires such interest in the Loan or Commitment (except any assignee pursuant to an assignment request by Borrower Agent under Section 13.4) or (ii) such Lender changes its Lending Office, except in each case to the extent
that, 

  
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 pursuant to Section 5.8.1, amounts with respect to such Taxes were payable
either to such Lender’s assignor immediately before such Lender become a party hereto or to such Lender immediately before it changed its Lending Office; (c) Taxes attributable to a Recipient’s failure to comply with
Section 5.9; (d) U.S. withholding Taxes imposed pursuant to FATCA; and (e) any Canadian withholding Taxes resulting from (i) a Lender not dealing at arm’s length within the meaning of the Income Tax Act (Canada) with a
Credit Party or (ii) a Lender being, or not dealing at arm’s length with, a “Specified Shareholder” within the meaning of Section 18(5) of the Income Tax Act (Canada) of a Credit Party. 

“Excluded Trust Accounts” means Deposit Accounts or Securities Accounts used exclusively (a) for
payroll, taxes or employee benefits, (b) to receive proceeds of Accounts sold to third parties pursuant to Specified Vendor Receivables Financings permitted under the Loan Documents, (c) to hold cash and/or cash equivalents pledged to
secure other obligations of the Parent Borrower or any Subsidiary thereof pursuant to Liens permitted under the Loan Documents, (d) as escrow accounts, (e) as fiduciary or trust accounts held exclusively for the benefit of third parties,
other than an Obligor and (f) that contain solely deposits permitted by clauses (c) and (d) of the definition of “Permitted Encumbrances”, including in connection with any letters of credit issued pursuant to such clauses,
if the documents governing such deposits prohibit the granting of a Lien on such deposits. 
 “Existing Letters of
Credit” those letters of credit existing on the Closing Date and identified on Schedule 1.1(A). 

“Extraordinary Expenses” all costs, expenses or advances that Agent or any Security Trustee may incur during
an Event of Default, or during the pendency of an Insolvency Proceeding of an Obligor, 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 Agent, any Security Trustee, any Lender, any Obligor, any representative of
creditors of an Obligor or any other Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability of Agent’s and/or Security Trustee’s Liens with respect to any Collateral), Loan Documents,
Letters of Credit or Obligations, including any lender liability or other Claims; (c) the exercise of any rights or remedies of Agent and/or Security Trustee in, or the monitoring of, any Insolvency Proceeding; (d) settlement or satisfaction of
taxes, charges or Liens with respect to any Collateral; (e) any Enforcement Action; and (f) negotiation and documentation of any modification, waiver, workout, restructuring or forbearance with respect to any Loan Documents or Obligations.
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’ and auctioneers’ fees and commissions,
accountants’ fees, environmental study fees, wages and salaries paid to employees of any Obligor or independent contractors in liquidating any Collateral, and travel expenses. 

“FATCA” (a) Sections 1471 through 1474 of the Code as of the Original Closing Date or any amended or
successor provision that is substantively comparable and not materially more onerous to comply with, and, in each case, any regulations or official interpretations thereof, (b) any agreements entered into pursuant to Section 1471(b)(1) of
the Code as of the Original Closing Date or any amended or successor provision as described in clause (a) above and (c) any law, regulation, rule, promulgation or official agreement implementing an official government agreement with
respect to the foregoing. 
 “Federal Funds Rate” (a) the weighted average of interest rates on
overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on the applicable Business Day (or on the preceding Business Day, if the applicable day is not a Business Day), as published by the
Federal Reserve Bank of New York on the next Business Day; or (b) if no such rate is 

  
 -30- 

 
published on the next Business Day, the average rate (rounded up, if necessary, to the nearest 1/8 of 1%) charged to Bank of America on the applicable day on such transactions, as determined by
Agent. 
 “FILO Amount” from and after the FILO Commencement Date, as of any date of determination, the
Dollar-equivalent result of: 
 (a)        the sum of (i) (a) 5% of
the Value of U.S. Eligible Accounts, plus (b) 10% of the NOLV Percentage of the Value of U.S. Eligible Inventory at such time, multiplied by 

(b)        (i) one (1), during the 21 month period following the FILO Commencement
Date and (ii) at all times thereafter (up to the FILO Termination Date), a fraction, the numerator of which shall be the number of full fiscal quarterly periods remaining prior to FILO Termination Date and the denominator of which shall be 6;
provided that from and after the FILO Termination Date, the FILO Amount shall be zero ($0). For purposes of clarity, the first “full fiscal quarterly period” shall mean a fiscal quarterly period commencing on the same calendar day that
corresponds to the 21 month anniversary of the FILO Commencement Date with reductions in the FILO Amount being effective on the first day of each applicable full fiscal quarterly period. 

“FILO Commencement Date” June 30, 2015. 

“FILO Loan” a U.S. Revolver Loan constituting a FILO Loan that is borrowed and deemed outstanding
pursuant to Section 4.1.1(a). 
 “FILO Termination Date” June 30, 2018. 

“Financial Covenant Trigger Period” the period (a) commencing on the day that an Event of Default
occurs, or U.S. Availability (computed without reference to the U.S. Special Availability Block during the period from the Fourth
Amendment Effective Date to but excluding February 28, 2019) is less than or equal to (i) if no principal amount
of FILO Loans is outstanding, the lesser of (A) 10% of the U.S. Borrowing Base or (B) 10% of the aggregate amount of all U.S. Revolver Commitments, or (ii) if any portion of the principal amount of FILO Loans is outstanding, the lesser of (A) 15% of the U.S. Borrowing Base or (B) 15% of the aggregate amount of all U.S.
Revolver Commitments; and (b) continuing until, during each of the preceding 30 consecutive days, no Event of Default has existed and U.S. Availability (computed without reference to the U.S. Special Availability Block during the period from the Fourth Amendment Effective Date to but
excluding February 28, 2019) has been greater than (i) if no principal amount of FILO Loans is
outstanding, the lesser of (A) 10% of the U.S. Borrowing Base or (B) 10% of the aggregate amount of all U.S.
Revolver Commitments, or (ii) if any portion of the principal amount of FILO Loans is outstanding, the lesser of (A) 15% of the U.S. Borrowing Base or (B) 15% of the aggregate amount of all U.S. Revolver Commitments. 
 “Financial Officer” the chief
financial officer, principal accounting officer, treasurer or controller of the Parent Borrower. 
 “First Lien Net
Leverage Ratio” on any date, the ratio of (a) First Lien Secured Debt as of such date less the aggregate amount (not to exceed $100,000,000) of the sum of Unrestricted Domestic Cash plus 65% of Unrestricted Foreign Cash, in each case
as of such date, to (b) Consolidated EBITDA for the period of four consecutive Fiscal Quarters of the Parent Borrower ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter of
the Parent Borrower most recently ended prior to such date for which financial statements are available). 

  
 -31- 

 “First Lien Secured Debt” Total Debt that is secured by a
first priority Lien on any asset of the Parent Borrower or any of its Subsidiaries (it being understood that any Debt outstanding under this Agreement and any Debt outstanding
under the Senior Term Loan Agreement and the Term Loan Agreement is First Lien
Secured Debt). 
 “Fiscal Quarter” each period of three months, commencing on the first day of a
Fiscal Year. 
 “Fiscal Year” the fiscal year of Borrowers and Subsidiaries for accounting and tax
purposes, ending on December 31 of each year. 
 “Fixed Charge Coverage Ratio” the ratio, determined
on a consolidated basis for Borrowers and Subsidiaries for the most recent 12 months, of (a) Consolidated EBITDA minus Capital Expenditures (except those financed with Borrowed Money other than Revolver Loans) and cash taxes paid, to
(b) Fixed Charges. For purposes of calculating the Fixed Charge Coverage Ratio for the 12-month periods ending December 31, 2015, January 31, 2016, February 29, 2016, March 31, 2016, April 30, 2016,
and May 31, 2016, cash taxes paid for each such 12-month period shall be calculated by using the amount of cash taxes paid for the period from July 1, 2015 through the last day of the applicable 12-month period and multiplying such amount
by (i) 2, in the case of the 12-month period ending December 31, 2015, (ii) 12/7, in the case of the 12-month period ending January 31, 2016, (iii) 3/2, in the case of the 12-month period ending February 29, 2016,
(iv) 4/3, in the case of the 12-month period ending March 31, 2016, (v) 6/5, in the case of the12-month period ending April 30, 2016, and (vi) 12/11, in the case of the 12-month period ending May 31, 2016. 

“Fixed Charges” the sum of interest expense (other than payment-in-kind), scheduled principal payments made
on Borrowed Money, and cash Distributions made by the Parent Borrower. 
 “Floating Rate Loan” a Base Rate
Loan or a Canadian Prime Rate Loan. 
 “FLSA” the Fair Labor Standards Act of 1938, as amended from time to
time. 
 “Foreign Allocated U.S. Availability” Canadian Allocated U.S. Availability and UK Allocated U.S.
Availability. 
 “Foreign Allocated U.S. Availability Reserve” the aggregate amount of U.S. Availability
allocated by Borrower Agent for inclusion in the Borrowing Bases of the Foreign Borrowers. 
 “Foreign
Borrowers” the Canadian Borrower and the UK Borrower. 
 “Foreign Cash Collateral Account” a
demand deposit, money market or other account established by Agent at such financial institution as Agent may select in its Permitted Discretion, which account shall be held in the United States and shall be subject to a Lien in favor of Agent for
the benefit of the Foreign Facility Secured Parties. 
 “Foreign Cross-Guarantee” as defined in
Section 5.10.4. 
 “Foreign Domiciled Obligor” any Obligor that is not a U.S. Domiciled
Obligor. 
 “Foreign Facility Collateral and Guarantee Requirement” subject to any applicable limitations
set forth in the Security Documents and the Agreed Security Principles: 
  

	 	(a)	 with respect to any and all Canadian Facility Obligors, the requirement that: 

  
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 (i)         Agent
shall have received from each party thereto (other than Agent) either (A) a counterpart of the Foreign Facility Guarantee and Collateral Agreement (with respect to Foreign Domiciled Obligors and, to the extent requested by Agent, U.S. Domiciled
Obligors) and each of the other Canadian Security Documents to which such Person is a party, duly executed and delivered on behalf of such Canadian Facility Obligor, as applicable, or (B) in the case of any Person that becomes a Canadian
Facility Obligor after the Closing Date, a joinder to this Agreement and a supplement or a counterpart to the Foreign Facility Guarantee and Collateral Agreement (with respect to Foreign Domiciled Obligors and, to the extent requested by Agent, U.S.
Domiciled Obligors) and each other applicable Canadian Security Document, in each case in the form specified therein, duly executed and delivered on behalf of such Canadian Facility Obligor, as applicable; 

(ii)        all outstanding Equity Interests of each Subsidiary
Obligor owned by or on behalf of any Canadian Facility Obligor shall have been pledged pursuant to an appropriate Canadian Security Document and, subject to the Intercreditor Agreement, Agent
or Controlling Term Loan Agent, as applicable, shall have received certificates or
other instruments representing all such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 

(iii)        all Debt for borrowed money having an aggregate principal
amount in excess of $500,000 that is owing to any Canadian Facility Obligor shall be evidenced by a promissory note and shall have been pledged pursuant to an appropriate Canadian Security Document, and, subject to the Intercreditor Agreement, Agent
and/or Controlling Term Loan Agent, as applicable, shall have received all such
promissory notes, together with instruments of transfer with respect thereto endorsed in blank; 

(iv)        all documents and instruments, including UCC and PPSA
financing statements, required by Applicable Law or reasonably requested by Agent to be filed, registered or recorded to create the Liens on the assets of such Canadian Facility Obligor intended to be created by the Canadian Security Documents and
perfect such Liens to the extent required by, and with the priority required by, the Canadian Security Documents (with respect to U.S. Obligors that are also Canadian Facility Obligors, in each case subject to the Intercreditor Agreement), shall
have been filed, registered or recorded; 
 (v)         Agent shall
have received, with respect to any Mortgaged Property of any Canadian Facility Obligor (A) counterparts of a Canadian Mortgage with respect to such Mortgaged Property duly executed and delivered by the record owner of such Mortgaged Property,
(B) a policy or policies of title insurance issued by a nationally recognized title insurance company insuring the Lien of each such Canadian Mortgage as a valid first Lien on the Mortgaged Property described therein, free of any other Liens
except as expressly permitted by Section 10.2.2, together with such endorsements, coinsurance and reinsurance as Agent or the Required Lenders may reasonably request, but only to the extent such endorsements are (1) available in the
relevant jurisdiction (provided in no event shall Agent request a creditors’ rights endorsement) and (2) available at commercially reasonable rates, (C) if reasonably requested by Agent, a current appraisal of any such Mortgaged
Property, prepared by an appraiser acceptable to Agent, and in form and substance satisfactory to Required Lenders (it being understood that if such appraisal is required in order to comply with Agent’s internal policies, such request shall be
deemed to be reasonable), (D) if reasonably requested by Agent, an environmental assessment with respect to any such Mortgaged Property, prepared by environmental engineers reasonably acceptable to Agent, and such other reports, certificates,
studies or data with respect to such 

  
 -33- 

 
Mortgaged Property as Agent may reasonably require, all in form and substance reasonably satisfactory to Required Lenders (it being understood that if such assessment or other materials are
required in order to comply with Agent’s internal policies, such request shall be deemed to be reasonable), and (E) such abstracts, legal opinions and other documents as Agent or the Required Lenders may reasonably request with respect to
any such Canadian Mortgage or Mortgaged Property; provided, however, in no event shall surveys be required to be obtained with respect to any such Mortgaged Property; 

(vi)        each Canadian Facility Obligor shall have obtained all
material consents and approvals required to be obtained by it in connection with the execution and delivery of all Canadian Security Documents to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens
thereunder, and in each case except to the extent not required to be obtained pursuant to the terms of the Loan Documents; and 

(vii)       the U.S. Facility Collateral and Guarantee Requirement (with
respect to U.S. Obligors only), the Mexican Collateral and Guarantee Requirement (with respect to Mexican Domiciled Obligors only), and the Dutch Collateral and Guarantee Requirement (with respect to Dutch Domiciled Obligors only) shall be met; and

  

	 	(b)	 with respect to any and all UK Facility Obligors, the requirement that: 

(i) Agent shall have received from each party thereto (other than Agent) either (A) a counterpart of the
Foreign Facility Guarantee and Collateral Agreement (with respect to Foreign Domiciled Obligors and, to the extent requested by Agent, U.S. Domiciled Obligors) and each of the other UK Security Document to which such Person is a party, duly executed
and delivered on behalf of such UK Facility Obligor, as applicable, or (B) in the case of any Person that becomes a UK Facility Obligor after the Closing Date, a joinder to this Agreement and deeds of accession or supplements to the Foreign
Facility Guarantee and Collateral Agreement (with respect to Foreign Domiciled Obligors and, to the extent requested by Agent, U.S. Domiciled Obligors) and each other applicable UK Security Document, in each case in the form specified therein, duly
executed and delivered on behalf of such UK Facility Obligor, as applicable; 

(ii)        all outstanding Equity Interests of each Subsidiary
Obligor owned by or on behalf of any UK Facility Obligor shall have been pledged pursuant to an appropriate UK Security Document (such as the Mexican Equity Pledges) and, subject to the Intercreditor Agreement, Agent or Controlling Term Loan Agent, as applicable, shall have received certificates or other
instruments representing all such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 

(iii)       each UK Facility Obligor shall have obtained all material
consents and approvals required to be obtained by it in connection with the execution and delivery of all UK Security Documents to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens thereunder, and
in each case except to the extent not required to be obtained pursuant to the terms of the Loan Documents; 

(iv)       Agent shall have received all documents and instruments required
by law or reasonably requested by Agent to be filed, registered or recorded to create the Liens intended to be created by the UK Security Documents and perfect such Liens to the extent required by the UK Security Documents shall have been filed,
registered, recorded or delivered to Agent for filing, registration or recording (including without limitation, with respect to the UK Borrower, the ratified notarial instrument corresponding to the Mexican Asset Pledge); and 

  
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 (v)         the U.S.
Facility Collateral and Guarantee Requirement (with respect to U.S. Obligors only), the Mexican Collateral and Guarantee Requirement (with respect to Mexican Domiciled Obligors only), and the Dutch Collateral and Guarantee Requirement (with respect
to Dutch Domiciled Obligors only) shall be met. 
 “Foreign Facility Guarantee and Collateral Agreement”
that certain Foreign Facility Guarantee and Collateral Agreement, dated as of the Closing Date, by and among Cequent Performance, Horizon International Holdings LLC, a Delaware limited liability company, the Canadian Domiciled Obligors, the UK
Domiciled Obligors, the Mexican Domiciled Obligors, Cequent Nederland Holdings B.V., certain other Obligors and Agent, as amended, restated, supplemented or otherwise modified from time to time. 

“Foreign Facility Obligations” the Canadian Facility Obligations and the UK Facility Obligations. 

“Foreign Facility Secured Parties” Canadian Facility Secured Parties and/or UK Facility Secured Parties, as
the context requires. 
 “Foreign Lender” (a) with respect to each Borrower that is a U.S. Person,
each Lender or Issuing Bank that is not a U.S. Person, and (b) with respect to each Borrower that is not a U.S. Person, each Lender or Issuing Bank that is resident or organized under the laws of a jurisdiction other than that in which such
Borrower is resident for Tax purposes. 
 “Foreign Obligor” each Obligor that is not a U.S. Obligor. For
the avoidance of confusion, “Foreign Obligors” shall include all U.S. Domiciled Obligors that are not U.S. Facility Obligors, including, without limitation, CFC Holdcos and U.S. Holdcos. 

“Foreign Plan” any employee benefit plan, program, policy, arrangement or agreement maintained or contributed
to by Parent Borrower or any of its Subsidiaries with respect to employees employed outside of the U.S. or Canada, other than any state social security arrangements. 

“Foreign Revolver Commitments” the Canadian Revolver Commitment and/or the UK Revolver Commitment, as the
context requires. 
 “Foreign Subsidiary” any Subsidiary that is organized under the laws of a jurisdiction
other than the United States of America or any State thereof or the District of Columbia. 
 “Fourth Amendment” means that certain Fourth Amendment to this Agreement, dated as of February 20, 2019 among the Borrowers,
the other Obligors party thereto, the Agent and the Lenders party thereto. 

“Fourth
Amendment Effective Date” means the “Amendment Effective Date” as set forth in the Fourth Amendment. 

“Fronting Exposure” a Defaulting Lender’s interest in LC Obligations, Swingline Loans and Protective
Advances, except to the extent Cash Collateralized by the Defaulting Lender or allocated to other Lenders hereunder. 

“FSCO” The Financial Services Commission of Ontario or like body in Canada or in any other province or
territory or jurisdiction of Canada with whom a Canadian Pension Plan is required to be registered in accordance with Applicable Law and any other Governmental Authority succeeding to the functions thereof. 

  
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 “Full Payment” with respect to any Obligations,
(a) the full cash payment thereof, including any interest, fees and other charges accruing during an Insolvency Proceeding (whether or not allowed in the proceeding) (other than contingent indemnification obligations for which no claim has been
asserted or is reasonably expected to be asserted); (b) if such Obligations are LC Obligations or inchoate or contingent in nature, Cash Collateralization thereof (or delivery of a standby letter of credit acceptable to Agent in its Permitted
Discretion, in the amount of required Cash Collateral); and (c) the release of any and all claims of the Obligors against Agent, Lenders and their Affiliates arising on or before the payment date. “Fully Paid” has a correlative
meaning. No Loans shall be deemed to have been paid in full unless all Commitments related to such Loans have terminated. 

“GAAP” generally accepted accounting principles in effect in the United States from time to time. 

“General Intangibles” as defined in the UCC (and/or with respect to any General Intangible of a Canadian
Domiciled Obligor, an “intangible” as defined in the PPSA) or any other Applicable Law, as applicable. 

“Governmental Approvals” all authorizations, consents, approvals, licenses and exemptions of, registrations
and filings with, and required reports to, all Governmental Authorities. 
 “Governmental Authority” the
government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including, without limitation, the Financial Conduct Authority, the Prudential Regulation Authority and any supra-national body
exercising such powers or functions, such as the European Union or the European Central Bank), in each case whether it is or is not associated with Canada, the United Kingdom, the U.S. or any state, province, district or territory thereof, or any
other foreign entity or government. 
 “Guarantee” of or by any Person (the “guarantor”)
means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Debt or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation or to purchase (or to advance or supply funds for
the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Debt or other obligation of the payment thereof, (c) to maintain working
capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Debt or other obligation or (d) as an account party in respect of any letter of credit or
letter of guaranty issued to support such Debt or obligation; provided, that the term “Guarantee” shall not include endorsements for collection or deposit in the Ordinary Course of Business. 

“Guarantee and Collateral Agreement” that certain ABL Guarantee and Collateral Agreement, dated as of
June 30, 2015, by and among the U.S. Obligors and Agent, as amended, restated, supplemented or otherwise modified from time to time. 

“Guarantor Payment” as defined in Section 5.10.3. 

“Guarantors” Canadian Facility Guarantors, UK Facility Guarantors, U.S. Facility Guarantors, and each other
Person that guarantees payment or performance of Obligations, in each case as the context requires. 

  
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 “Guaranties” the Canadian Guaranties, the UK Guaranties
and/or the U.S. Guaranties, as the context requires. 
 “Hazardous Materials” all explosive, radioactive,
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes
of any nature regulated pursuant to any Environmental Law. 
 “Hedging Agreement” any (i) interest
rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement, (ii) Permitted Bond Hedge Transactions and
(iii) Permitted Warrant Transactions. 
 “Immaterial Subsidiary” at any date, any Subsidiary of the
Parent Borrower that, together with its consolidated Subsidiaries (i) does not, as of the last day of the Fiscal Quarter of the Parent Borrower most recently ended on or prior to such date for which financial statements are available, have
assets with a value in excess of 2.5% of the consolidated total assets of the Parent Borrower and its consolidated Subsidiaries and (ii) did not, during the period of four consecutive Fiscal Quarters of the Parent Borrower most recently ended
on or prior to such date for which financial statements are available, have revenues exceeding 2.5% of the total revenues of the Parent Borrower and its consolidated Subsidiaries; provided that, the aggregate assets or revenues of all
Immaterial Subsidiaries, determined in accordance with GAAP, may not exceed 5.0% of consolidated assets or consolidated revenues, respectively, of the Parent Borrower and its consolidated Subsidiaries, collectively, at any time (and the Parent
Borrower will promptly designate in writing to Agent the Subsidiaries which will cease to be treated as “Immaterial Subsidiaries” in order to comply with the foregoing limitation). 

“IMPI” the Mexican Institute of Intellectual Property (Instituto Mexicano de la Propiedad Industrial).

 “Incremental Facility Agreement” an Incremental Facility Agreement, in form and substance reasonably
satisfactory to Agent, among the Parent Borrower, the Term Loan Agent and one or more Term Loan Lenders and effecting such other amendments to the Term Loan Documents as are contemplated by Section 2.21 of the Term Loan Agreement. 

“Incremental Term Commitment” with respect to any Term Loan Lender, the commitment, if any, of such Term Loan
Lender, established pursuant to an Incremental Facility Agreement and Section 2.21 of the Term Loan Agreement, to make Incremental Term Loans of any series under the Term Loan Agreement, expressed as an amount representing the maximum principal
amount of the Incremental Term Loans of such series to be made by such Term Loan Lender. 
 “Incremental Term
Loans” any term loans made pursuant to Section 2.21(a) of the Term Loan Agreement. 
 “Indemnified
Taxes” (a) Taxes, other than Excluded Taxes, imposed on or relating to any payment of an Obligation; and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitees” Agent Indemnitees, Lender Indemnitees, Issuing Bank Indemnitees and Bank of America
Indemnitees. 
 “Insolvency Proceeding” any case or proceeding, application, meeting convened, resolution
passed, proposal, corporate action or any other proceeding commenced by or against a Person under any 

  
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state, provincial, federal or foreign law for, including without limitation the Mexican Bankruptcy Law, or any agreement of such Person to, (a) the entry of an order for relief under the
U.S. Bankruptcy Code, or any other insolvency, debtor relief, bankruptcy, receivership, debt adjustment law or other similar law (whether state, provincial, federal or foreign), including the Bankruptcy and Insolvency Act (Canada) and the
CCAA; (b) the appointment of a Creditor Representative or other custodian for such Person or any part of its Property; (c) an assignment or trust mortgage for the benefit of creditors; (d) the winding up or strike off of the Person
(other than in connection with a solvent reorganization permitted by Section 10.2.3); (e) the proposal or implementation of a scheme of arrangement; (f) a suspension of payment, moratorium of any debts, official
assignment, composition or arrangement with a Person’s creditors; or (g) in the case of a UK Domiciled Obligor, any corporate action, legal proceedings or other procedure commenced or other step taken (including the making of an
application, the presentation of a petition, the filing or service of a notice or the passing of a resolution) in relation to (i) such UK Domiciled Obligor being adjudicated or found insolvent, (ii) the suspension of payments, a moratorium
of any indebtedness, winding-up, dissolution, administration or reorganization (by way of voluntary arrangement, scheme of arrangement or otherwise) of such UK Domiciled Obligor other than a solvent liquidation or reorganization of such UK Domiciled
Obligor permitted by Section 10.2.3, (iii) a composition, assignment or arrangement with any class of creditors of such UK Domiciled Obligor or (iv) the appointment of a liquidator, supervisor, receiver,
administrator, administrative receiver, compulsory manager, trustee or other similar officer in respect of such UK Domiciled Obligor or any of its assets. 

“Intellectual Property” the collective reference to all rights, priorities and privileges relating to
intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the Trademarks and the Trademark
Licenses, and all rights to sue at law or in equity for any infringement, misappropriation or violation thereof, including the right to receive all proceeds and damages therefrom. 

“Intellectual Property Claim” any claim or assertion (whether in writing, by suit or otherwise) that a
Borrower’s or Subsidiary’s ownership, use, marketing, sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person’s Intellectual Property. 

“Intercreditor Agreement” the Intercreditor Agreement, dated as of June 30, 2015, between Term Loan
Agent and Agent, acknowledged by the U.S. Domiciled Obligors and relating to the Term Loan Debt, as amended by that certain First
Amendment to Intercreditor Agreement, dated as of October 3, 2016, and by that certain Second Amendment to Intercreditor Agreement, dated on or about the Fourth Amendment Effective Date and supplemented by that certain Joinder Agreement to
Intercreditor Agreement dated on or about the Fourth Amendment Effective Date and as further amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms
thereof. 
 “Interest Period” as defined in Section 3.1.4. 

“Interest Period Loan” a Canadian BA Rate Loan or a LIBOR Loan. 

“Inventory” as defined in the UCC, the PPSA or any other Applicable Law, including all goods intended for
sale, lease, display or demonstration; all work in process; and all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or
furnishing of such goods, or otherwise used or consumed in a Borrower’s business (but excluding Equipment). 

“Inventory Formula Amount” the Canadian Inventory Formula Amount, the UK Inventory Formula Amount and/or the
U.S. Inventory Formula Amount, as the context requires. 

  
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 “Inventory Reserve” the Canadian Inventory Reserve, the UK
Inventory Reserve and/or the U.S. Inventory Reserve, as the context requires. 
 “IRS” the United States
Internal Revenue Service. 
 “Issuing Bank Indemnitees” the Canadian Issuing Bank Indemnitees, the UK
Issuing Bank Indemnitees and the U.S. Issuing Bank Indemnitees. 
 “Issuing Banks” the Canadian Issuing
Banks, the UK Issuing Banks and/or the U.S. Issuing Banks, as the context requires. 
 “ITA” the Income Tax
Act 2007 (United Kingdom), as amended from time to time. 
 “Judgment Currency” as defined in
Section 1.5. 
 “Latest Maturity Date” as of any date of determination, the latest maturity
date applicable to any Loans outstanding or Commitments in effect hereunder and/or any Term Loan Debt or Incremental Term Commitment. 

“LC Document” any of the Canadian LC Documents, UK LC Documents, and/or the U.S. LC Documents, as the context
requires. 
 “LC Obligations” the Canadian LC Obligations, the UK LC Obligations and/or the U.S. LC
Obligations, as the context requires. 
 “LC Request” a Canadian LC Request, a UK LC Request or a U.S. LC
Request, as the context requires. 
 “Lender Indemnitees” Lenders and Secured Bank Product Providers, and
their officers, directors, employees, Affiliates, branches, agents and attorneys. 
 “Lenders” lenders
party to this Agreement, including (a) Bank of America and its Affiliates and branches in their respective capacities as the Canadian Swingline Lender, the UK Swingline Lender and the U.S. Swingline Lender, (b) the Canadian Lenders,
(c) the UK Lenders, (d) the U.S. Lenders and (e) their respective permitted successors and assigns and, where applicable, any Issuing Bank, and any other Person who hereafter becomes a “Lender” pursuant to an Assignment,
including any Lending Office of the foregoing. 
 “Lending Office” the office (including any domestic or
foreign Affiliate or branch) designated as such by a Lender or Issuing Bank by notice to Agent and Borrower Agent. 

“Letters of Credit” the Canadian Letters of Credit, the UK Letters of Credit and/or the U.S. Letters of
Credit, as the context requires. 
 “LIBOR” the per annum rate of interest (rounded up to the nearest 1/8th
of 1% and in no event less than zero) determined by Agent at or about 11:00 a.m. (London time) two Business Days prior to an interest period, for a term equivalent to such period, equal to the London Interbank Offered Rate, or comparable or
successor rate approved by Agent, as published on the applicable Reuters screen page (or other commercially available source designated by Agent from time to time); provided, that any comparable or successor rate shall be applied by Agent, if
administratively feasible, in a manner consistent with market practice. 

  
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 “LIBOR Loan” each set of LIBOR Revolver Loans having a
common length and commencement of Interest Period. 
 “LIBOR Revolver Loan” a Revolver Loan that bears
interest based on LIBOR; provided, however, that a Canadian Base Rate Loan bearing interest as set forth in clause (c) of the definition of Canadian Base Rate, or a U.S. Base Rate Loan bearing interest as set forth in clause
(c) of the definition of U.S. Base Rate, shall not constitute a LIBOR Revolver Loan. 
 “License”
means, with respect to any Person, all of such Person’s right, title, and interest in and to (a) any and all licensing agreements or similar arrangements in and to its Patents, Copyrights, or Trademarks, (b) all income, royalties,
damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future breaches thereof, and (c) all rights to sue for past, present, and future
breaches thereof. 
 “Licensor” any Person from whom an Obligor obtains the right to use any
Intellectual Property. 
 “Lien” with respect to any asset, (a) any mortgage
(hypotheek), deed of trust, lien and in general any right in rem (beperkte recht), pledge (pandrecht), hypothecation, encumbrance, charge, trust (deemed, constructive, statutory or otherwise) or security interest in, on
or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Lien Waiver” documents in the form of Exhibits C-1 and C-2 (in each case with appropriate
modifications to remove the references to the Term Loan Agent, the Term Loan Documents, the Term Loan Agent and the Term Loan Documents if such Lien Waiver is delivered with respect to an Obligor that is not a U.S. Obligor) and each other landlord waiver, bailee letter, or acknowledgement agreement
of any lessor, mortgagee, warehouseman, processor, shipper, customs broker, freight forwarder, repairman, mechanic, bailee, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in any Obligor’s books
and records, Equipment, or Inventory, or, with respect to any Collateral subject to a Licensor’s Intellectual Property rights, an agreement of such Licensor, in each case, in form and substance reasonably satisfactory to Agent. 

“Loan” a Revolver Loan. 

“Loan Documents” this Agreement, Other Agreements and Security Documents. 

“Loan Year” each 12 month period commencing on the Original Closing Date and on each anniversary of the
Original Closing Date. 
 “Local Time” with respect to (a) Canadian Revolver Loans, prevailing
time in Toronto, Ontario, Canada, (b) UK Revolver Loans, prevailing time at Agent’s notice address under Section 14.3.1 and (c) U.S. Revolver Loans, prevailing time at Agent’s notice address under
Section 14.3.1. 
 “Margin Stock” as defined in Regulation U of the Board. 

“Material Adverse Effect” a material adverse effect on (a) the business, operations, properties, assets,
financial condition, or material agreements of the Parent Borrower and the Subsidiaries, taken as a whole, (b) the ability of any Obligor in any material respect to perform any of its obligations under any 

  
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Loan Document or (c) the rights of or benefits available to the Lenders under any Loan Document or the validity or priority of Agent’s or any Security Trustee’s Liens on any
Collateral. 
 “Material Agreements” any agreements or instruments relating to Material Debt. 

“Material Debt” (a) the Term Loan Debt
and (b, (b) the Debt outstanding in respect of the Senior Term Loan Documents and (c) any other Debt (other than the Loans and Letters of Credit), or obligations in respect of one or more Hedging Agreements, of any one or more of the Parent Borrower and its Subsidiaries in an aggregate principal
amount exceeding $25,000,000. For purposes of determining Material Debt, the “principal amount” of the obligations of the Parent Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum
aggregate amount (giving effect to any netting agreements) that the Parent Borrower or such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time. For the avoidance of doubt, the term “Material Debt”
shall not include any obligations under any Permitted Warrant Transaction. 
 “Maximum Alternative
Incremental Debt Amount” an aggregate principal amount of Alternative Incremental Debt that would not, immediately after giving effect to the establishment thereof and any other Debt incurred substantially simultaneously therewith (and any
related repayment of Debt), cause (a) with respect to any Pari Passu Alternative Incremental Debt, the First Lien Net Leverage Ratio, calculated on a pro forma basis as of the date of incurrence of such Debt (but disregarding the proceeds of
any such Debt in calculating Unrestricted Domestic Cash), to exceed 3.25 to 1.00, (b) with respect to any Alternative Incremental Debt secured by Liens that are junior to the Liens on the Collateral securing the Term Loan Debt, the Secured Net
Leverage Ratio, calculated on a pro forma basis as of the date of incurrence of such Debt (but disregarding the proceeds of any such Debt in calculating Unrestricted Domestic Cash), to exceed 3.50 to 1.00 and (c) with respect to any unsecured
Alternative Incremental Debt, the Net Leverage Ratio, calculated on a pro forma basis as of the date of incurrence of such Debt (but disregarding the proceeds of any such Debt in calculating Unrestricted Domestic Cash), to exceed 4.00 to 1.00. 

“Maximum Facility Amount” $99,000,000. 

“Mexican Asset Pledges” (i) three (3) non-possessory pledge agreements (contratos de
prenda sin transmisión de posesión) dated on or about the Closing Date and satisfactory to Agent, pursuant to which the Mexican Domiciled Obligors have pledged and granted a first priority Lien in favor of Agent over all or
substantially all of the present and future movable assets (bienes muebles) and/or equipment owned by each Mexican Domiciled Obligor located in Mexico, including but not limited to Inventory, Equipment, Intellectual Property, among others;
and (ii) one (1) pledge agreement dated on or about the Closing Date and satisfactory to Agent, pursuant to which the UK Borrower has pledged and granted a first priority Lien in favor of Agent over all present and future assets and/or
equipment owned by the UK Borrower located in Mexico, including but not limited to Inventory, Equipment, Intellectual Property, among others, in each case as amended, restated, supplemented or otherwise modified from time to time. 

“Mexican Bankruptcy Law” the Mexican Ley de Concursos Mercantiles, as amended, implemented and/or
supplemented from time to time. 
 “Mexican Collateral and Guarantee Requirement” subject to any applicable
limitations set forth in the Security Documents and the Agreed Security Principles, with respect to all Mexican Domiciled Obligors, the requirement that Agent shall have received evidence of the following documents: 

  
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 (a)         a copy of the mercantile
folio (folio mercantil) of each Mexican Domiciled Obligor, issued by the corresponding Public Registry of the Property and Commerce (Registro Público de la Propiedad y del Comercio) evidencing the absence of any Insolvency
Proceedings; 
 (b)         notarized copies of the partner’s resolutions of
the Mexican Domiciled Obligors: (i) authorizing the execution, delivery and performance of the Loan Documents to which such Mexican Domiciled Obligors are party; (ii) authorizing a specific person or persons to execute the Loan Documents
to which each such Mexican Domiciled Obligor is a party on behalf of such Mexican Domiciled Obligor; (iii) authorizing a specific person or persons, on behalf of each Mexican Domiciled Obligor, to sign and/or dispatch all documents and notices
to be signed or dispatched by such Mexican Domiciled Obligor under or in connection with the Loan Documents to which it is a party; (iv) authorizing the appointment of the Borrower Agent as each Mexican Domiciled Obligor’s agent for
service of process in New York; and (v) waiving the pre-emptive rights of each Mexican Domiciled Obligor in respect of any pledged Equity Interests, authorizing the division of such Equity Interests and approving any sale of such Equity
Interests conducted in the context of foreclosures under the Security Documents; 
 (c)
        a certificate of a member of the board of managers or an authorized officer of each Mexican Domiciled Obligor as to the Solvency of such Mexican Domiciled Obligor; 

(d)         a ratified notarial instrument by a Mexican notary public of the Mexican
Asset Pledges and Mexican Equity Pledges; 
 (e)         all documents and
instruments, required by law or reasonably requested by Agent to be filed, registered or recorded to create the Liens intended to be created by the Foreign Facility Guarantee and Collateral Agreement and by the Mexican Security Documents and to
perfect such Liens to the extent required by, and with the priority required by, the Foreign Facility Guarantee and Collateral Agreement and by the Mexican Security Documents, shall have been filed, registered or recorded or delivered to Agent for
filing, registration or recording; and 
 (f)         duly executed Canadian
Guaranties and UK Guaranties. 
 “Mexican Domiciled Obligors” Cequent Sales Company de Mexico, S. de R.L.
de C.V., a limited liability company organized under the laws of Mexico, Cequent Trailer Products, S. de R.L. de C.V., a limited liability company organized under the laws of Mexico, Cequent Electrical Products de Mexico, S. de R.L. de C.V., a
limited liability company organized under the laws of Mexico, and each other Obligor organized or incorporated under the laws of Mexico or any jurisdiction thereof. 

“Mexican Equity Pledges” three (3) non- possessory pledge agreements (contratos de prenda sin
transmisión de posesión), dated on or about the Closing Date and satisfactory to Agent, pursuant to which the interest holders of the Mexican Domiciled Obligors have pledged and granted a first priority Lien in favor of Agent over
all of the Equity Interests in each of the Mexican Domiciled Obligors, in each case as amended, restated, supplemented or otherwise modified from time to time. 

“Mexican Security Documents” the Mexican Asset Pledges, the Mexican Equity Pledges, and all other documents,
instruments and agreements governed by the laws of Mexico now or hereafter securing (or given with the intent to secure) any of the Foreign Facility Obligations, in each case as amended, restated, supplemented or otherwise modified from time to
time. 
 “Mexico” means the United Mexican States. 

  
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 “Moody’s” Moody’s Investors Service, Inc., and
its successors. 
 “Mortgages” the Canadian Mortgages, the UK Mortgages and/or the U.S. Mortgages, as the
context requires. 
 “Mortgaged Property” each parcel of real property and improvements thereto with
respect to which a Mortgage is required to be granted pursuant to Section 10.1.9. 
 “Multiemployer
Plan” any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which an Obligor or ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been
obligated to make contributions. 
 “Net Leverage Ratio” on any date, the ratio of (a) Total Debt as
of such date less the aggregate amount (not to exceed $100,000,000) of the sum of Unrestricted Domestic Cash plus 65% of Unrestricted Foreign Cash, in each case as of such date, to (b) Consolidated EBITDA for the period of four consecutive
Fiscal Quarters of the Parent Borrower ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter of the Parent Borrower most recently ended prior to such date for which financial
statements are available). 
 “Net Proceeds” with respect to any event, (a) the cash proceeds received
in respect of such event including (i) any cash received in respect of any noncash proceeds, but only as and when received, (ii) in the case of a casualty, insurance proceeds in excess of $1,000,000 and (iii) in the case of a
condemnation or similar event, condemnation awards and similar payments, net of (b) the sum of (i) all reasonable fees and out-of-pocket expenses paid by the Parent Borrower and the Subsidiaries to third parties (other than Affiliates) in
connection with such event, (ii) in the case of a sale, transfer or other disposition of an asset (including pursuant to a sale and leaseback transaction or a casualty or a condemnation or similar proceeding), the amount of all payments
required to be made by the Parent Borrower and the Subsidiaries as a result of such event to repay Debt (other than Loans, Debt in
respect of the Senior Term Loans, Term Loan Debt, Pari Passu Alternative Incremental Debt or any Permitted Term Loan Refinancing Debt) secured by such asset or otherwise subject to mandatory
prepayment as a result of such event, and (iii) the amount of all Taxes paid (or reasonably estimated to be payable) by the Parent Borrower and the Subsidiaries, and the amount of any reserves established by the Parent Borrower and the
Subsidiaries to fund contingent liabilities reasonably estimated to be payable, in each case during the 24-month period immediately following such event and that are directly attributable to such event (as determined reasonably and in good faith by
the chief financial officer of the Parent Borrower) to the extent such liabilities are actually paid within such applicable time periods. 

“New Borrower” as defined in Section 10.1.9(d). 

“New Lender” each Lender that becomes a party to this Agreement after the Closing Date. 

“NOLV Percentage” the net orderly liquidation value of any particular type of Inventory (whether raw
materials, work-in-process or finished goods), expressed as a percentage, expected to be realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal
of Borrowers’ Inventory performed by an appraiser and on terms satisfactory to Agent. 
 “Notice of
Borrowing” a request by Borrower Agent of a Borrowing of Revolver Loans in the form attached as Exhibit F hereto or otherwise in form satisfactory to Agent. 

  
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 “Notice of Conversion/Continuation” a request by Borrower
Agent of a conversion or continuation of any Loans as Canadian BA Rate Loans or LIBOR Loans, in form satisfactory to Agent. 

“Obligations” all (a) principal of and premium, if any, on the Loans, (b) LC Obligations and other
obligations of Obligors with respect to Letters of Credit, (c) interest, expenses, fees, indemnification obligations, Extraordinary Expenses and other amounts payable by Obligors under Loan Documents, (d) Secured Bank Product Obligations,
and (e) other Debts, obligations and liabilities of any kind owing by Obligors pursuant to the Loan Documents, whether now existing or hereafter arising, whether evidenced by a note or other writing, whether allowed in any Insolvency
Proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, or
joint or several, including without limitation the Foreign Facility Obligations and the U.S. Facility Obligations; provided that Obligations of an Obligor shall not include its Excluded Swap Obligations. 

“Obligors” the Canadian Facility Obligors, the UK Facility Obligors and the U.S. Facility Obligors,
collectively, and “Obligor” means any of the Obligors, individually. 
 “Obligor Group” a
group consisting of (a) the Canadian Facility Obligors, (b) the UK Facility Obligors or (c) the U.S. Facility Obligors, as the context requires. 

“OFAC” Office of Foreign Assets Control of the U.S. Treasury Department. 

“Ordinary Course of Business” the ordinary course of business of any Borrower or Subsidiary, undertaken in
good faith and consistent with Applicable Law and past practices. 
 “Organic Documents” with respect to
any Person, its charter, certificate or articles of incorporation, memorandum of association, bylaws, articles of organization, limited liability agreement, operating agreement, members agreement, shareholders agreement, partnership agreement,
certificate of partnership, certificate of formation, voting trust agreement, or similar agreement or instrument governing the formation or operation of such Person. 

“Original Closing Date” June 30, 2015. 

“Original Closing Date Dividend” as defined in the definition of “Original Closing Date
Transactions”. 
 “Original Closing Date Transactions” collectively, (a) the consummation of the
Spin-Off in accordance with the terms of the Spin-Off Agreement, (b) the payment of a dividend in an amount not to exceed $225,000,000, $200,000,000 of such dividend being funded with Term Loan Debt and the remaining amount being funded with
cash on-hand, made on the Original Closing Date by the Parent Borrower to TriMas in accordance with the Spin-Off Agreement (the “Original Closing Date Dividend”), (c) the execution, delivery and performance on the Original Closing
Date by each U.S. Obligor of the Loan Documents to which it was a party as of such date, the borrowing (if any) of the Loans on the Original Closing Date and issuance (if any) of Letters of Credit under the Original Loan Agreement on the Original
Closing Date and the use of the proceeds of the foregoing, (d) the execution, delivery and performance by each U.S. Obligor of the Term Loan Documents to which it is a party, the borrowing of Term Loan Debt on the Original Closing Date and
the use of the proceeds thereof and (e) the payment of the fees and expenses payable in connection with the foregoing. 

“OSHA” the Occupational Safety and Hazard Act of 1970. 

  
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 “Other Agreement” the Intercreditor Agreement and each LC
Document, fee letter, Lien Waiver, Borrowing Base Report, Compliance Certificate, Perfection Certificate, Borrower Materials, or other note, document, instrument or agreement (other than this Agreement or a Security Document) now or hereafter
delivered by an Obligor or other Person to Agent, a Security Trustee or a Lender in connection with any transactions relating hereto. 

“Other Connection Taxes” Taxes imposed on a Recipient due to a present or former connection between it and
the taxing jurisdiction (other than connections arising from the Recipient having executed, delivered, become party to, performed obligations or received payments under, received or perfected a Lien or engaged in any other transaction pursuant to,
enforced, or sold or assigned an interest in, any Loan or Loan Document). 
 “Other Taxes” all
present or future stamp, court, documentary, intangible, recording, filing or similar excise or property Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or
perfection of a Lien under, or otherwise with respect to, any Loan Document, except Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 13.4). 

“Overadvance” a Canadian Overadvance, a UK Overadvance or a U.S. Overadvance, as the context requires. 

“Overadvance Loan” a Canadian Overadvance Loan, a UK Overadvance Loan or a U.S. Overadvance Loan, as the
context requires. 
 “Parent Borrower” as defined in the preamble to this Agreement. 

“Pari Passu Alternative Incremental Debt” as defined in the definition of “Alternative Incremental
Debt”. 
 “Pari Passu Permitted Term Loan Refinancing Debt” Permitted Term Loan Refinancing Debt that
is secured by Liens on a pari passu basis with the Liens on the Collateral securing the Term Loan Debt. 

“Participant” as defined in Section 13.2. 

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

“Patents” with respect to any Person, all of such Person’s right, title, and interest in and to:
(a) any and all patents and patent applications and any and all industrial designs and industrial design applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisionals, continuations,
renewals and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future
infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 

“Patriot Act” the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001). 

  
 -45- 

 “Payment Item” each check, draft or other item of payment
payable to an Obligor, including those constituting proceeds of any Collateral. 
 “PBA” the
Pension Benefits Act (Ontario), as amended from time to time, or any other Canadian federal or provincial or territorial pension benefit standards legislation pursuant to which any Canadian Pension Plan is required to be registered.

 “PBGC” the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor
entity performing similar functions. 
 “Perfection Certificate” a certificate in the form of Exhibit D
hereto or any other form approved by Agent. 
 “Permitted Acquisition” any Acquisition, whether by
purchase, merger, consolidation or otherwise, by the Parent Borrower or a Subsidiary of all or substantially all the assets of, or all of the Equity Interests in, a Person or a division, line of business or other business unit of a Person so long as
(a) such Acquisition shall not have been preceded by a tender offer that has not been approved or otherwise recommended by the board of directors of such Person, (b) such assets are to be used in, or such Person so acquired is engaged in,
as the case may be, a business of the type conducted by the Parent Borrower and its Subsidiaries on the date of execution of this Agreement or in a business reasonably related thereto and (c) immediately after giving effect thereto, (i) no
Default has occurred and is continuing or would result therefrom, (ii) all transactions related thereto are consummated in all material respects in accordance with Applicable Laws, (iii) all of the Equity Interests (other than Assumed
Preferred Stock) of each Subsidiary formed for the purpose of or resulting from such acquisition shall be owned directly by the Parent Borrower or a Subsidiary and all actions required to be taken under Section 10.1.9 have been taken,
(iv) the investment is permitted under clauses (q), (r) or (s) of Section 10.2.4, (v) any Debt or any preferred stock that is incurred, acquired or assumed in connection with such acquisition
shall be in compliance with Section 10.2.1 and (vi) the Parent Borrower has delivered to Agent an officers’ certificate to the effect set forth in clauses (a), (b) and (c)(i) through (v) above, together with all
relevant financial information for the Person or assets to be acquired. Notwithstanding anything to the contrary herein, no acquisition
or other transaction shall be deemed to be a Permitted Acquisition during the Senior Term Period. 

“Permitted Bond Hedge Transaction” means any call or capped call option (or substantively equivalent
derivative transaction) relating to the Parent Borrower’s common stock (or other securities or property following a merger event or other change of the common stock of the Parent Borrower so long as any such securities do not constitute
Disqualified Equity Interests of an Obligor) purchased by the Parent Borrower in connection with the issuance of any Permitted Convertible Indebtedness; provided, that the purchase price for such Permitted Bond Hedge Transaction, less the proceeds
received by the Parent Borrower from the sale of any related Permitted Warrant Transaction, does not exceed the net proceeds received by the Parent Borrower from the sale of such Permitted Convertible Indebtedness issued in connection with such
Permitted Bond Hedge Transaction. 
 “Permitted Convertible Indebtedness” means senior, unsecured Debt of
the Parent Borrower that (i) has no scheduled principal amortization prior to maturity, (ii) has a scheduled maturity date not earlier than 91 days following the Latest Maturity Date then in effect with respect to the Obligations and
(iii) is convertible into shares of common stock of the Parent Borrower (or other securities or property following a merger event or other change of the common stock of the Parent Borrower so long as any such securities do not constitute
Disqualified Equity Interests of an Obligor) (and cash in lieu of fractional 

  
 -46- 

 
shares) and/or cash (in an amount determined by reference to the price of such common stock or such other securities). 

“Permitted Discretion” a determination made in the exercise, in good faith, of reasonable business judgment
(from the perspective of a secured, asset-based lender). 
 “Permitted Encumbrances” 

(a)         Liens imposed by law for taxes that are not yet due or are being contested
in compliance with Section 10.1.6; 
 (b)         carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in the Ordinary Course of Business and securing obligations that are not overdue by more than 30 days or are being contested in
compliance with Section 10.1.6; 
 (c)         pledges and deposits made
in the Ordinary Course of Business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; 

(d)         deposits to secure the performance of bids, trade contracts, leases,
statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the Ordinary Course of Business; 

(e)         judgment Liens in respect of judgments that do not constitute an Event of
Default under clause (k) of Section 11.1; 
 (f)
        easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the Ordinary Course of Business that do not secure any monetary obligations and do
not materially detract from the value of the affected property or interfere with the ordinary conduct of business of any Borrower or any Subsidiary and, with respect to any Real Estate located in Canada, the qualifications, limitations, reservations
and provisos contained in the original grant from the Crown, as varied by statutes; 

(g)        ground leases in respect of real property on which facilities owned or
leased by any Borrower or any of the Subsidiaries are located, other than any Mortgaged Property; 

(h)        Liens in favor or customs and revenue authorities arising as a matter of
law to secure payment of customs duties in connection with the importation of goods in the Ordinary Course of Business; 

(i)         leases or subleases granted to other Persons and not interfering in any
material respect with the business of the Borrowers and the Subsidiaries, taken as a whole; 
 (j)
        banker’s liens, rights of set-off or similar rights, in each case arising by operation of law; 

(k)        Liens in favor of a landlord on leasehold improvements in leased premises;
and 
 (l)         any Lien arising under the general terms and conditions
(algemene bankvoorwaarden) of any member of the Dutch Bankers’ Association (Nederlandse Vereniging van Banken) or any similar term applied by a financial institution in the Netherlands pursuant to its general terms and conditions;

 provided that the term “Permitted Encumbrances” shall not include any Lien securing Debt. 

  
 -47- 

 “Permitted Incremental Term Loans” any Incremental Term
Commitment (and the Incremental Term Loans in respect thereof) incurred so long as the aggregate principal amount thereof, as of the date of incurrence of such Debt, did not exceed (i) (together with the amount of Alternative Incremental Debt
established on such date in reliance on the Base Incremental Amount) an amount equal to the Base Incremental Amount as of the date of incurrence of such Debt plus (ii) an additional amount so long as after giving effect to the establishment of
such Incremental Term Commitment (and assuming such Incremental Term Commitment was fully drawn) and any other Debt incurred substantially simultaneously therewith and any related repayment of Debt, the First Lien Net Leverage Ratio, calculated on a
pro forma basis as of the date of incurrence of such Debt (but disregarding the proceeds of any such Debt in calculating Unrestricted Domestic Cash) did not exceed 3.50 to 1.00. 

“Permitted Investments” 

(a)         direct obligations of, or obligations the principal of and interest on
which are unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from
the date of acquisition thereof; 
 (b)         investments in commercial paper
maturing within one year from the date of acquisition thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody’s; 

(c)         investments in certificates of deposit, banker’s acceptances and time
deposits maturing within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United
States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000; 

(d)         fully collateralized repurchase agreements with a term of not more than 30
days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; 

(e)         securities issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof having maturities of not more than six months from the date of acquisition thereof and, at the time of acquisition, having the highest credit rating obtainable from
S&P or from Moody’s; 
 (f)         securities issued by any foreign
government or any political subdivision of any foreign government or any public instrumentality thereof having maturities of not more than six months from the date of acquisition thereof and, at the time of acquisition, having the highest credit
rating obtainable from S&P or from Moody’s; 
 (g)         investments of
the same quality as those identified on Schedule 10.2.4 as “Qualified Foreign Investments” made in the Ordinary Course of Business; 

(h)         cash; and 

(i)         investments in funds that invest solely in one or more types of securities
described in clauses (a), (e) and (f) above. 
 “Permitted Jurisdiction” as defined in
Section 10.1.9(a). 

  
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 “Permitted Term Loan Refinancing Debt” any Debt incurred to
refinance all or any portion of the outstanding Term Loan Debt or Incremental Term Loans; provided that, (i) such refinancing Debt, if secured, is secured only by the Collateral securing the Term Loan Debt, and having lien priorities no
more beneficial than those applicable to the Term Loan Debt as in effect on the Original Closing Date, (ii) no Subsidiary that is not originally obligated with respect to repayment of the Debt being refinanced is obligated with respect to the
refinancing Debt, (iii) the weighted average life to maturity of the refinancing Debt shall be no shorter than the remaining weighted average life to maturity of the Term Loan Debt being refinanced, (iv) the maturity date in respect of the
refinancing Debt shall not be earlier than the maturity date in respect of the Debt being refinanced, (v) the principal amount of such refinancing Debt does not exceed the principal amount of the Debt so refinanced except by an amount (such
amount, the “Additional Permitted Amount”) equal to unpaid accrued interest and premium thereon at such time plus reasonable fees and expenses incurred in connection with such refinancing, (vi) the Debt being so refinanced is
paid down on a dollar-for-dollar basis by such refinancing Debt (other than by the Additional Permitted Amount), (vii) the terms of any such refinancing Debt (1) (excluding pricing, fees and rate floors and optional prepayment or
redemption terms and subject to clause (2) below) reflect, in Parent Borrower’s reasonable judgment, then-existing market terms and conditions and (2) (excluding pricing, fees and rate floors) are no more favorable to the lenders
providing such refinancing Debt than those applicable to the Debt being refinanced (in each case, including with respect to mandatory and optional prepayments); provided that the foregoing shall not apply to covenants or other provisions
applicable only to periods after the Latest Maturity Date in effect immediately prior to the establishment of such refinancing Debt; provided further that any such refinancing Debt may contain, without any Lender’s consent, additional
covenants or events of default not otherwise applicable to the Debt being refinanced or covenants more restrictive than the covenants applicable to the Debt being refinanced, in each case prior to the Latest Maturity Date in effect immediately prior
to the establishment of such refinancing Debt, so long as all Lenders receive the benefits of such additional covenants, events of default or more restrictive covenants and (viii) such refinancing Debt, if secured, shall be subject to a
customary intercreditor agreement in form and substance reasonably satisfactory to Agent. 
 “Permitted Unsecured
Debt” any unsecured notes or bonds or other unsecured debt securities; provided that (a) such Debt shall not mature prior to the date that is 91 days after the Latest Maturity Date in effect at the time of the issuance of such
Debt and shall not have any principal payments due prior to such date, except upon the occurrence of a change of control or similar event (including asset sales), in each case so long as the provisions relating to change of control or similar events
(including asset sales) included in the governing instrument of such Debt provide that the provisions of this Agreement must be satisfied prior to the satisfaction of such provisions of such Debt, (b) such Debt is not Guaranteed by any
Subsidiary of Parent Borrower other than the U.S. Obligors (which Guarantees shall be unsecured and shall be permitted only to the extent permitted by Section 10.2.1(a)(vii)), (c) such Debt shall not have any financial maintenance
covenants, (d) such Debt shall not have a definition of “Change of Control” or “Change in Control” (or any other defined term having a similar purpose) that is materially more restrictive than the definition of Change in
Control set forth herein and (e) such Debt, if subordinated in right of payment to the Obligations, shall be subject to subordination and intercreditor provisions that are, in Agent’s reasonable judgment, customary under then-existing
market convention. 
 “Permitted Warrant Transaction” means any call option, warrant or right to purchase
(or substantively equivalent derivative transaction) relating to the Parent Borrower’s common stock (or other securities or property following a merger event or other change of the common stock of the Parent Borrower so long as any such
securities do not constitute Disqualified Equity Interests of an Obligor) and/or cash (in an amount determined by reference to the price of such common stock) sold by the Parent Borrower substantially concurrently with any purchase by the Parent
Borrower of a Permitted Bond Hedge Transaction. 

  
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 “Person” any individual, corporation, limited liability
company, partnership, joint venture, association, trust, unincorporated organization, Governmental Authority or other entity. 

“Platform” as defined in Section 14.3.3. 

“PPSA” the Personal Property Security Act (Ontario), as amended from time to time, (or any
successor statute) and the regulations thereunder; provided, however, if validity, perfection and effect of perfection and non-perfection and opposability of Agent’s security interest in and Lien on any Canadian Facility
Collateral of any Canadian Domiciled Obligor are governed by the personal property security laws of any jurisdiction other than Ontario, PPSA shall mean those personal property security laws (including the Civil Code) in such other jurisdiction for
the purposes of the provisions hereof relating to such validity, perfection, and effect of perfection and non-perfection and for the definitions related to such provisions, as from time to time in effect. 

“Preferred Dividends” any cash dividends of the Parent Borrower permitted hereunder to be paid with
respect to preferred stock of the Parent Borrower in reliance on Section 10.2.8(a)(iv). 
 “Prime
Rate” the rate of interest announced by Bank of America from time to time as its prime rate. Such rate is set by Bank of America on the basis of various factors, including its costs and desired return, general economic conditions and other
factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate publicly announced by Bank of America shall take effect at the opening of business on the day specified in
the announcement. 
 “Pro Rata” with respect to any Lender and any Borrower Group, a percentage (rounded to
the ninth decimal place) determined, (a) by dividing the amount of such Lender’s Borrower Group Commitment to such Borrower Group by the aggregate outstanding Borrower Group Commitments of all Lenders to such Borrower Group; or
(b) following termination of the Borrower Group Commitments to such Borrower Group, by dividing the amount of such Lender’s Loans and LC Obligations with respect to such Borrower Group by the aggregate outstanding Loans and LC Obligations
with respect to such Borrower Group or, if all Loans and LC Obligations with respect to such Borrower Group have been paid in full and/or Cash Collateralized, by dividing such Lender’s and its Affiliates’ remaining Obligations with respect
to such Borrower Group by the aggregate remaining Obligations with respect to such Borrower Group. 
 “Proceeds of
Crime Act” the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (or any successor statute), as amended from time to time, and including all regulations thereunder. 

“Property” any interest in any kind of property or asset, whether real, personal or mixed, or tangible or
intangible. 
 “Protected Party” a Lender, Agent or a Security Trustee which is or will be subject to any
liability or required to make any payment for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) from the Relevant Borrower under a Loan Document. 

“Protective Advances” Canadian Protective Advances, UK Protective Advances and/or U.S. Protective Advances,
as the context requires. 

  
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 3 “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be
amended from time to time. 
 “Purchase Money Debt” (a) Debt (other than the Obligations) for
payment of any of the purchase price of fixed assets; (b) Debt (other than the Obligations) incurred within 10 days before or after acquisition of any fixed assets, for the purpose of financing any of the purchase price thereof; and
(c) any renewals, extensions or refinancings (but not increases) thereof. 
 “Purchase Money Lien” a
Lien that secures Purchase Money Debt, encumbering only the fixed assets acquired with such Debt and constituting a Capital Lease Obligation or a purchase money security interest under the UCC or PPSA. 

“Qualified ECP” an Obligor with total assets exceeding $10,000,000, or that constitutes an “eligible
contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” under Section 1a(18)(A)(v)(II) of such act. 

“Qualified Equity Interests” means and refers to any Equity Interests issued by an Obligor that are not
Disqualified Equity Interests. 
 “Qualified Parent Borrower Preferred Stock” any preferred Equity
Interests of Parent Borrower (a)(i) that does not provide for any cash dividend payments or other cash distributions in respect thereof prior to the Latest Maturity Date in effect as of the date of issuance of such Equity Interests and
(ii) that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable) or upon the happening of any event does not (A)(x) mature or become mandatorily redeemable pursuant to a
sinking fund obligation or otherwise, (y) become convertible or exchangeable at the option of the holder thereof for Debt or preferred stock that is not Qualified Parent Borrower Preferred Stock or (z) become redeemable at the option of
the holder thereof (other than as a result of a change of control event), in whole or in part, in each case on or prior to the date that is 365 days after the Latest Maturity Date in effect at the time of the issuance thereof and (B) provide
holders thereunder with any rights upon the occurrence of a “change of control” event prior to the repayment of the Obligations and termination of the Commitments under the Loan Documents, (b) with respect to which Parent
Borrower has delivered a notice to Agent that it has issued preferred Equity Interests in lieu of incurring Debt permitted under Section 10.2.1(a)(xii), with such notice specifying to which of such Debt such preferred stock or preferred
equity interest applies; provided that (i) the aggregate liquidation value of all such preferred stock or preferred equity interest issued pursuant to this clause (b) shall not exceed at any time the dollar limitation related to the
applicable Debt hereunder, less the aggregate principal amount of such Debt then outstanding and (ii) the terms of such preferred stock or preferred equity interests (x) shall provide that upon a default thereof, the remedies of the
holders thereof shall be limited to the right to additional representation on the board of directors of Parent Borrower and (y) shall otherwise be no less favorable to the Lenders, in the aggregate, than the terms of the applicable Debt or
(c) having an aggregate initial liquidation value not to exceed $10,000,000; provided that the terms of such preferred stock or preferred equity interests shall provide that upon a default thereof, the remedies of the holders thereof
shall be limited to the right to additional representation on the board of directors of Parent Borrower. 

“Qualifying Lender” as defined, in relation to United Kingdom Tax matters, in Section 5.8.4. 

“Real Estate” all right, title and interest (whether as owner, lessor or lessee) in any real Property or any
buildings, structures, parking areas or other improvements thereon. 
  

 
 3 Added per Third Amendment. 

  
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 “Reallocation” as defined in Section 2.1.7(a).

 “Reallocation Date” as defined in Section 2.1.7(a). 

“Recipient” Agent, Issuing Bank, any Lender, any Security Trustee or any other recipient of a payment to be
made by an Obligor under a Loan Document or on account of an Obligation. 
 “Registered Equivalent Notes”
with respect to any bonds, notes, debentures or similar instruments originally issued in a Rule 144A or other private placement transaction under the Securities Act of 1933, substantially identical notes (having the same Guarantees) issued in a
dollar for dollar exchange therefor pursuant to an exchange offer registered with the Commission. 
 “Regulation
U” Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 

“Regulation X” Regulation X of the Board as from time to time in effect and all official rulings and
interpretations thereunder or thereof. 
 “Release” any release, spill, emission, leaking, dumping,
injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment (including ambient air, surface water, groundwater, land surface or subsurface strata) or within any building, structure, facility or
fixture. 
 “Relevant Borrower” as defined, in relation to United Kingdom Tax matters, in
Section 5.8.4. 
 “Rent and Charges Reserve” the Canadian Rent and Charges Reserve, the UK Rent
and Charges Reserve or the U.S. Rent and Charges Reserve, as the context requires. 
 “Report” as defined
in Section 12.3.3. 
 “Reporting Trigger Period” the period (a) commencing on the day that an
Event of Default occurs, or U.S. Adjusted Availability (computed without reference to the U.S. Special Availability Block during the
period from the Fourth Amendment Effective Date to but excluding February 28, 2019) is less than or equal to the greater of (i) the lesser of (A) 20% of the U.S. Borrowing Base or
(B) 20% of the aggregate amount of all U.S. Revolver Commitments or (ii) $17,500,000; and (b) continuing until no Event of Default exists and, during each of the preceding 30 consecutive days, U.S. Adjusted Availability (computed without reference to the U.S. Special Availability Block during the period from the Fourth Amendment Effective Date to but
excluding February 28, 2019) has been greater than the greater of (i) the lesser of (A) 20% of the U.S. Borrowing Base or (B) 20% of the aggregate amount of all U.S. Revolver
Commitments or (ii) $17,500,000. 
 “Required Conditions” with respect to any event, the
following conditions: no Default exists or is caused thereby and upon giving pro forma effect thereto, either (a) during each of the preceding 30 consecutive days and as of such event, U.S. Availability is greater than or equal to the greater
of (i) the lesser of (A) 20% of the U.S. Borrowing Base or (B) 20% of the aggregate amount of all U.S. Revolver Commitments or (ii) $17,500,000; or (b) (i) during each of the preceding 30 consecutive days and as of such
event, U.S. Availability is greater than or equal to the greater of (A) the lesser of (1) 15% of the U.S. Borrowing Base or (2) 15% of the aggregate amount of all U.S. Revolver Commitments or (B) $12,500,000 and (ii) the
Fixed Charge Coverage Ratio, determined on a pro forma basis giving effect to such event, is not less than 1.0 to 1.0, whether or not a Financial Covenant Trigger Period exists. 

  
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 “Required Lenders” Secured Parties holding more than 50% of
(a) the aggregate outstanding Revolver Commitments; or (b) following termination of the Revolver Commitments, the aggregate outstanding Loans and LC Obligations or, if all Loans and LC Obligations have been Fully Paid, the aggregate
remaining Obligations; provided, however, (i) if there are more than one (1), but fewer than three (3) unaffiliated Secured Parties at such time, “Required Lenders” must include at least two (2) unaffiliated Secured Parties
and (ii) that Commitments, Loans and other Obligations held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation, but any related Fronting Exposure shall be deemed held as a Loan or LC Obligation by the
Secured Party that funded the applicable Loan or issued the applicable Letter of Credit. 
 “Restricted
Debt” Debt of the Parent Borrower or any Subsidiary, the payment, prepayment, redemption, repurchase or defeasance of which is restricted under Section 10.2.8(b). 

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

“Revolver Commitments” the Canadian Revolver Commitments, the UK Revolver Commitments and/or the U.S.
Revolver Commitments, as the context requires. 
 “Revolver Loan” a Canadian Revolver Loan, a UK Revolver
Loan or a U.S. Revolver Loan, as the context requires. 
 “Revolver Priority Collateral” the “ABL
Priority Collateral”, as defined in the Intercreditor Agreement. 
 “Revolver Termination Date” the
fifth anniversary of the Original Closing Date. 
 “Revolver Usage” the Canadian Revolver Usage, the UK
Revolver Usage or the U.S. Revolver Usage, as the context requires. 
 “RUG” the Mexican Sole Registry of
Liens Over Movable Assets (Registro Único de Garantías Mobiliarias). 
 “S&P”
Standard & Poor’s Financial Services LLC, or any successor thereto. 
 “Sanctioned Country”
at any time, a country, region or territory which is itself the subject or target of any Sanctions (including, without limitation, the Crimea region of Ukraine, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” at any time, (a) any Person listed in any Sanctions-related list of designated
Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the Government of Canada, the United Nations Security Council, the European Union or any European Union member
state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

  
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 “Sanctions” all economic or financial sanctions or trade
embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or
(b) the Government of Canada, the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom. 

“Secured Bank Product Obligations” Debt, obligations and other liabilities with respect to Bank Products
owing by a Borrower or Affiliate of a Borrower to a Secured Bank Product Provider; provided, that Secured Bank Product Obligations of an Obligor shall not include its Excluded Swap Obligations; and provided, further, that the aggregate
amount of Secured Bank Product Obligations attributable to Supply Chain Finance Arrangements shall not exceed $20,000,000 at any time. 

“Secured Bank Product Provider” (a) Bank of America or any of its Affiliates or branches; and (b) any
other Lender or Affiliate or branch of a Lender that is providing a Bank Product, provided such provider delivers written notice to Agent, in form and substance satisfactory to Agent, within 10 days 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
12.14. 
 “Secured Debt” Total Debt that is secured by a Lien on any asset of the Parent Borrower or
any of its Subsidiaries. 
 “Secured Net Leverage Ratio” on any date, the ratio of (a) Secured Debt as
of such date less the aggregate amount (not to exceed $100,000,000) of the sum of Unrestricted Domestic Cash plus 65% of Unrestricted Foreign Cash, in each case as of such date, to (b) Consolidated EBITDA for the period of four consecutive
Fiscal Quarters of the Parent Borrower ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter of the Parent Borrower most recently ended prior to such date for which financial
statements are available). 
 “Secured Parties” the Canadian Facility Secured Parties, the UK Facility
Secured Parties and/or the U.S. Facility Secured Parties, as the context requires. 
 “Securities Accounts”
all present and future “securities accounts” (as defined in Article 8 of the UCC or the STA, as applicable), including all monies, “uncertificated securities,” “securities entitlements” and other “financial
assets” (as defined in Article 8 of the UCC or the STA, as applicable) contained therein. 
 “Securities
Account Control Agreement” means with respect to a Securities Account established by an Obligor (or a Securities Account of an Obligor in existence as of the Closing Date), an agreement, in form and substance reasonably satisfactory to
Agent, establishing Control of such Securities Account by Agent or a Security Trustee to perfect Agent’s or such Security Trustee’s Lien on such Securities Account and whereby the bank or other financial institution maintaining such
Securities Account agrees to comply only with the instructions originated by Agent or such Security Trustee without the further consent of any Obligor upon the delivery of a notice of sole control by Agent or such Security Trustee. As used in this
definition, “Control” has the meaning set forth in the PPSA, the STA, Article 8 or Section 9-102(b) of Article 9 or, if applicable, shall mean satisfaction of the requirements set forth in Section 9-104, 9-105, 9-106 or 9-107 of
Article 9 of the UCC. 
 “Security Documents” without duplication, the Canadian Security Documents, the
Mexican Security Documents, the UK Security Documents, the Dutch Security Documents, and/or the U.S. Security Documents, as the context requires. 

  
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 “Security Trustee” the UK Security Trustee and/or any other
security trustee appointed by Agent from time to time, as the context requires. 
 “Senior Debt” Total Debt
less Subordinated Debt. 
 “Senior Officer” the chairman of the board, president, chief executive officer
or chief financial officer, or in the case of a UK Domiciled Obligor, a director, of a Borrower or, if the context requires, an Obligor; provided, however, that the vice president of the Canadian Borrower shall be deemed to be a Senior Officer.

“Senior
Term Agent” the Administrative Agent under the Senior Term Credit Agreement. 

“Senior
Term Credit Agreement” the Credit Agreement, dated as of the Fourth Amendment Effective Date, by and among Horizon Global Corporation, the several banks and other financial institutions or entities from time to time party thereto and Cortland
Capital Market Services LLC, as Administrative Agent. 
 “Senior Term Loan Debt” the Debt and “Obligations” (as defined under the Senior Term Loan Agreement) evidenced by the
Senior Term Loan Documents, in aggregate principal amount (in the case of loans) not to exceed $10,000,000. 

“Senior
Term Loans” the “Loans” as defined in the Senior Term Credit Agreement. 

“Senior
Term Loan Documents” the “Loan Documents” as defined in the Senior Term Credit Agreement. 

“Senior
Term Loan Debt” the Debt and “Obligations” (as defined under the Term Loan Agreement) evidenced by the Term Loan Documents, in aggregate principal amount (in the case of loans) not to exceed $10,000,000. 

“Senior
Term Period” means the period beginning on the Fourth Amendment Effective Date and ending at the time of the Discharge of Senior Obligations. “Settlement Report” a report
summarizing Revolver Loans and participations in LC Obligations outstanding as of a given settlement date, allocated to Lenders on a Pro Rata basis in accordance with their Revolver Commitments. 

“Significant Investment” any acquisition by a Borrower or a Subsidiary of more than 50% (but less than 100%)
of the Equity Interests in a Person (such Person, the “Subject Person”), so long as such acquisition is permitted by Section 10.2.4. 

“Solvent” (a) as to any Person (other than a Person incorporated or organized under the laws of any
legal jurisdiction of Canada, Mexico, the Netherlands or any legal jurisdiction of the UK, or any province or territory of Canada), such Person (i) owns Property whose fair salable value is greater than the amount required to pay all of its
debts (including contingent, subordinated, unmatured and unliquidated liabilities); (ii) owns Property whose present fair salable value (as defined below) is greater than the probable total liabilities (including contingent, subordinated,
unmatured and unliquidated liabilities) of such Person as they become absolute and matured; (iii) is able to pay all of its debts as they mature; (iv) has capital that is not unreasonably small for its business and is sufficient to carry
on its business and transactions and all business and transactions in which it is about to engage; (v) is not “insolvent” within the meaning of Section 101(32) of the U.S. Bankruptcy Code; and (vi) has not incurred (by way
of assumption or otherwise) any obligations or liabilities (contingent or otherwise) under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or 

  
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 defraud either present or future creditors of such Person or any of its Affiliates;
(b) as to any Person incorporated or organized under the laws of Canada or any province or territory of Canada, such Person is not an “insolvent person” as defined in the Bankruptcy and Insolvency Act (Canada); (c) as to
any Person incorporated or organized under the laws of Mexico, such Person is not under an Insolvency Proceeding or a “concurso mercantil” as defined in the Mexican Bankruptcy Law; (d) as to any Person incorporated or organized
under the laws of the Netherlands, such Person is not declared bankrupt (in staat van faillissement verklaard) or granted (provisional) suspension of payments ((voorlopige) surceance van betaling verleend); and (e) as to any
Person incorporated in any legal jurisdiction of the UK, such Person is able or does not admit its inability to pay its debts as they fall due, does not suspend or threaten to suspend making payments on any of its debt, does not by reason of actual
or anticipated financial difficulties, commence negotiations with its creditors with a view of rescheduling its indebtedness and no moratorium is declared in respect of its indebtedness. “Fair salable value” means the amount that
could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase.
“Solvency” has a correlative meaning. 
 “Specified Obligor” an Obligor that is not then
an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 5.10). 

“Specified Vendor Payables Financing” the sale by one or more vendors of the Parent Borrower and certain
Subsidiaries of accounts receivable (which such accounts receivable are accounts payable of the Parent Borrower and such Subsidiaries) to a Lender or any of its Affiliates pursuant to financing agreements to which the Parent Borrower and such
Subsidiaries are party, in transactions constituting “true sales”; provided that the aggregate amount of all such vendor payables financings shall not exceed $30,000,000 at any time outstanding. 

“Specified Vendor Payables Financing Documents” all documents and agreements relating to the Specified Vendor
Payables Financing. 
 “Specified Vendor Receivables Financing” the sale by the Parent Borrower and certain
Subsidiaries of accounts receivable to one or more financial institutions pursuant to third-party financing agreements in transactions constituting “true sales”; provided that the aggregate amount of all such receivables financings shall
not exceed $50,000,000 at any time outstanding. 
 “Specified Vendor Receivables Financing Documents” all
documents and agreements relating to Specified Vendor Receivables Financing. 
 “Spin-Off” a
“spin-off” transaction that occurred on the Original Closing Date with respect to the Parent Borrower such that all of the Equity Interests in the Parent Borrower were “spun-off” from TriMas ratably to the holders of all the
Equity Interests in TriMas and the Parent Borrower ceased to be a Subsidiary of TriMas and became a public company. 

“Spin-Off Agreement” a Separation and Distribution Agreement, dated as of or prior to the Original Closing
Date, by and between the Parent Borrower and TriMas. 
 “Spin-Off Documentation” collectively, the Spin-Off
Agreement and all schedules, exhibits and annexes thereto and all side letters and agreements affecting the terms thereof or entered into in connection therewith, including, without limitation, (i) an employee matters agreement by and between
the Parent Borrower and TriMas, (i) a tax sharing agreement by and between the Parent Borrower and TriMas, and (iii) a transition services agreement by and between the Parent Borrower and TriMas. 

  
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 “Spot Rate” the exchange rate, as determined by Agent, that
is applicable to conversion of one currency into another currency, which is (a) the exchange rate reported by Bloomberg (or other commercially available source designated by Agent) as of the end of the preceding Business Day in the financial
market for the first currency; or (b) if such report is unavailable for any reason, the spot rate for the purchase of the first currency with the second currency as in effect during the preceding Business Day in Agent’s principal foreign
exchange trading office for the first currency. 
 “STA” the Securities Transfer Act, 2006 (Ontario)
(or any successor statute), as amended from time to time, and the regulations thereunder. 
 “Stated
Amount” the outstanding amount of a Letter of Credit, including any automatic increase or tolerance (whether or not then in effect) provided by the Letter of Credit or related LC Documents. 

“Sterling” the lawful currency of the United Kingdom. 

“Subject Person” as defined in the definition of “Significant Investment.” 

“Subordinated Debt” Debt incurred by a Borrower that is expressly subordinate and junior in right of payment
to Full Payment of all Obligations, and is on terms (including maturity, interest, fees, repayment, covenants and subordination) satisfactory to Agent. 

“Subsidiary” any entity at least 50% of whose voting securities or Equity Interests is owned by a Borrower or
combination of Borrowers (including indirect ownership through other entities in which a Borrower directly or indirectly owns 50% of the voting securities or Equity Interests). 

“Subsidiary Obligor” a Canadian Subsidiary Obligor, a UK Subsidiary Obligor, a U.S. Subsidiary Obligor and/or
any other Obligor that is a Subsidiary, as the context requires. 
 “Supply Chain Finance Arrangements”
means an arrangement entered into by a Borrower or an Affiliate of a Borrower with a Secured Bank Product Provider pursuant to which such Secured Bank Product Provider finances open account payables of a Borrower or an Affiliate of Borrower owing to
its vendors. 
 “Swap” any agreement, contract, or transaction that constitutes a “swap” within
the meaning of section 1a(47) of the Commodity Exchange Act. 
 “Swap Obligation” with respect to any
person, any obligation to pay or perform under any Swap. 
 “Swingline Loan” a Canadian Swingline Loan, a
UK Swingline Loan or a U.S. Swingline Loan, as the context requires. 
 “Synthetic Purchase Agreement” any
swap, derivative or other agreement or combination of agreements pursuant to which the Parent Borrower or a Subsidiary is or may become obligated to make (i) any payment (other than in the form of Equity Interests in the Parent Borrower) in
connection with a purchase by a third party from a Person other than the Parent Borrower or a Subsidiary of any Equity Interest or Restricted Debt or (ii) any payment (other than on account of a permitted purchase by it of any Equity Interest
or any Restricted Debt) the amount of which is determined by reference to the price or value at any time of any Equity Interest or Restricted Debt; provided that phantom stock or similar plans providing for payments only to current or former
directors, officers, consultants, advisors or employees of the Parent Borrower or the Subsidiaries (or to their heirs or estates) shall not be deemed to be Synthetic Purchase Agreements. For the avoidance of doubt, the term “Synthetic Purchase
Agreement” shall not 

  
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include any agreement, indenture or other document governing any Permitted Bond Hedge Transaction, Permitted Convertible Indebtedness or Permitted Warrant Transaction. 

“TARGET Day” any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any) determined by Agent to be a suitable replacement) is open for the settlement of payments in Euros. 

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

“Term
Intercreditor Agreement” means that Term Intercreditor Agreement, dated as of the Fourth Amendment Effective Date, among the Obligors, the Term Loan Agent and the Senior Term Agent, as amended, restated, supplemented, or otherwise modified from
time to time in accordance with the terms thereof. 

“Term Loan Agent” JPMorgan Chase Bank, N.A. in its capacity as agent for the lenders under the Term Loan
Agreement, and its successors and assigns including under any replacement or refinancing with respect thereto. 

“Term Loan Agreement” that certain Term Loan Credit Agreement, dated as of June 30, 2015, among Term
Loan Agent, the Term Loan Lenders, the Parent Borrower, and the other parties thereto. 
 4 “Term Loan Agreement Fourth Amendment” that certain Fourth
Amendment to Credit Agreement, dated as of July 31, 2018, among Term Loan Agent, the Term Loan Lenders party thereto, the Parent Borrower, Horizon Global Americas Inc., a Delaware corporation, Horizon Global Company LLC, a Delaware limited
liability company, and the other parties thereto. 
 “Term Loan Debt” the Debt and
“Obligations” (as defined under the Term Loan Agreement) evidenced by the Term Loan Documents, in aggregate principal amount (in the case of loans) not to exceed (a) $200,000,000 plus (b) the aggregate principal amount of
Permitted Incremental Term Loans less (c) the aggregate principal amount of Senior Term Loans. 
 “Term Loan Documents” collectively”
(a) the Term Loan Agreement and (b) all other agreements, instruments, documents and certificates executed and delivered to, or in favor of, the Term Loan Agent or the Term Loan Lenders in connection therewith. 

“Term Loan Lenders” the lenders party to the Term Loan Agreement. 

“Term Loan Security Documents” collectively, the Guarantee and Collateral Agreement (as defined in the Term
Loan Agreement), the Mortgages (as defined in the Term Loan Agreement) and all other security documents delivered to the Term Loan Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Obligor under the
Term Loan Agreement or the Guarantee and Collateral Agreement (as defined in the Term Loan Agreement), as such documents may be amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the
requirements thereof and of this Agreement. 
 “Term Priority Collateral” the “Term Priority
Collateral”, as defined in the Intercreditor Agreement. 
  

4 Added per Third Amendment. 

  
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 “Termination Event” (a) the voluntary full or partial
wind up of a Canadian Pension Plan that is a registered pension plan by a Canadian Domiciled Obligor; (b) the institution of proceedings by any Governmental Authority to terminate in whole or in part or have a trustee appointed to administer
such a plan; or (c) any other event or condition which might constitute grounds for the termination of, winding up or partial termination of winding up or the appointment of trustee to administer, any such plan. 

“Total Availability” the sum of the Canadian Availability, the UK Availability and the U.S. Availability.

 “Total Borrowing Base” the sum of the Canadian Borrowing Base, the UK Borrowing Base and the U.S.
Borrowing Base. 
 “Total Debt” as of any date, the aggregate principal amount of Debt for Borrowed Money
of the Parent Borrower and the Subsidiaries outstanding as of such date, in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP. 

“Total Revolver Usage” the sum of the Canadian Revolver Usage, the UK Revolver Usage and the U.S. Revolver
Usage. 
 “Trademarks” with respect to any Person, all of such Person’s right, title, and interest in
and to the following: (a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing;
(b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements
thereof; (d) all rights to sue for past, present, and future infringements of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 

“Transactions” collectively, (a) the Original Closing Date Transactions, (b) the execution,
delivery and performance on the Closing Date by each Obligor of the Loan Documents to which it was a party as of such date, the borrowing (if any) of the Loans on the Closing Date and issuance (if any) of Letters of Credit hereunder on the Closing
Date and the use of the proceeds of the foregoing, and (c) the payment of the fees and expenses payable in connection with the foregoing. 

“Transferee” any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in
any Obligations. 
 “Treaty” a double taxation agreement. 

“Treaty Lender” a Lender which: 

(a)         is treated as a resident of a Treaty State for the purposes of the
relevant Treaty; 
 (b)         does not carry on a business in the United Kingdom
through a permanent establishment with which that Lender’s participation in any advance is effectively connected; and 

(c)         meets all of the conditions in the Treaty for full exemption from Taxes
imposed by the United Kingdom on interest, subject to the completion of any necessary procedural formalities. 

“Treaty State” as defined, in relation to United Kingdom Tax matters, in Section 5.8.4. 

  
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 “TriMas” TriMas Company LLC, a Delaware limited liability
company. 
 “UCC” the Uniform Commercial Code as in effect in the State of New York or, when the laws of
any other jurisdiction govern the perfection or enforcement of any Lien, the Uniform Commercial Code of such jurisdiction. 

“UK or United Kingdom” the United Kingdom of Great Britain and Northern Ireland. 

“UK Allocated U.S. Availability” U.S. Availability designated by the Borrower Agent for application to the UK
Borrowing Base. 
 “UK Availability” the UK Borrowing Base minus the UK Revolver Usage. 

“UK Availability Reserve” the sum (without duplication) of (a) the UK Inventory Reserve; (b) the UK
Rent and Charges Reserve; (c) the UK Bank Product Reserve; (d) the aggregate amount of liabilities secured by Liens upon UK Facility Collateral that are (or, in the opinion of Agent in the exercise of its Permitted Discretion, may be)
senior to Agent’s or any Security Trustee’s Liens or that Agent in its Permitted Discretion determines may be required to be paid to permit or facilitate exercise of rights or remedies with respect to UK Facility Collateral (but imposition
of any such reserve shall not waive an Event of Default arising therefrom); including, without limitation, (i) amounts due to employees in respect of unpaid wages and holiday pay, (ii) the “prescribed part” of floating charge
realisations held for unsecured creditors and (iii) the expenses and liabilities incurred by any administrator (or other insolvency officer) and any remuneration of such administrator (or other insolvency officer) and (e) such additional
reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion may elect to impose from time to time; provided the imposition of any such reserves or change in a reserve after the Closing Date shall not be
effective until two (2) Business Days after notice thereof (which may be oral notice, promptly confirmed in writing) to the Borrower Agent unless (i) a Default has occurred and is then continuing, (ii) the reserve or change in reserve
is the result of a Lien, senior in priority to Agent’s or applicable Security Trustee’s Lien, attached to any UK Facility Collateral included in the UK Borrowing Base and/or (iii) the changes to any such reserve results solely from
mathematical calculations of the amount of such reserve in accordance with the methodology of calculation previously utilized (in the case of each of which such reserve or change in reserve shall be effective immediately); and provided
further that during any such two (2) Business Day notice period, Lenders shall have no obligations to fund any UK Revolver Loan or cause to be issued any UK Letter of Credit to the extent that, after giving pro forma effect to the making
of such UK Revolver Loan or issuance of such UK Letter of Credit and to the establishment of any such new reserve or change in such reserve, a UK Overadvance would exist. 

“UK Bank Product Reserve” the aggregate amount of reserves established by Agent from time to time in its
Permitted Discretion in respect of Secured Bank Product Obligations for the account of the UK Domiciled Obligors and any Affiliate thereof domiciled in the UK. 

“UK Base Rate Loan” a UK Revolver Loan, or portion thereof, funded in Dollars and bearing interest calculated
by reference to the U.S. Base Rate. 
 “UK Borrower” Cequent UK (as defined in the preamble to this
Agreement). 
 “UK Borrowing Base” on any date of determination, an amount (expressed in Dollars,
based on the Dollar Equivalent thereof) equal to the lesser of (a) the aggregate UK Revolver Commitments and (b) the sum of the UK Inventory Formula Amount, plus UK Allocated U.S. Availability, minus the UK Availability
Reserve; provided, however, that no Inventory or other Property acquired in a Permitted 

  
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 Acquisition or otherwise outside the Ordinary Course of Business shall be included in the
calculation of the UK Borrowing Base until completion of a customary due diligence investigation by Agent, which may in Agent’s sole discretion include applicable field examinations and appraisals (which shall not be included in the limits on
the number of field examinations or appraisals provided in Section 10.1.1) satisfactory to Agent. 
 “UK
Commitment Termination Date” the earliest to occur of (a) the Revolver Termination Date; (b) the date on which U.S. Borrowers terminate the U.S. Revolver Commitments pursuant to Section 2.1.4; (c) the date on which the
U.S. Revolver Commitments are terminated pursuant to Section 11.2; (d) the date on which UK Borrower terminates the UK Revolver Commitments pursuant to Section 2.1.4; (c) the date on which the UK Revolver
Commitments are terminated pursuant to Section 11.2. 
 “UK Debenture” the debenture, governed by
English law dated on or about the date of this Agreement and made between UK Borrower and UK Security Trustee, as such debenture is amended, restated, supplemented or otherwise modified from time to time. 

“UK Deposit Account Control Agreement” a control agreement (whether in the form of an agreement, notice and
acknowledgement or like instrument) satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor in favor of Agent as security for the UK Facility Obligations of such Obligor. 

“UK Domiciled Obligor” UK Borrower and each UK Subsidiary that is or is required to be liable for payment of
any Foreign Facility Obligations or that has granted a Lien on its assets in favor of Agent or any Security Trustee to secure any Foreign Facility Obligations, and “UK Domiciled Obligors” means all such Persons, collectively. 

“UK Dominion Account(s)” one or more special accounts established by the UK Borrower at Bank of America or
another bank reasonably acceptable to Agent, held in the United States, and, as required under Section 8.2.4, with respect to which Agent has the right to issue a notice of exclusive control for withdrawal purposes during a Dominion
Trigger Period. 
 “UK Eligible Inventory” Inventory owned by UK Borrower that Agent, in its Permitted
Discretion, deems to be UK Eligible Inventory. Without limiting the foregoing, no Inventory shall be UK Eligible Inventory unless it (a) is finished goods or raw materials or work-in-process and not packaging or shipping materials, labels,
samples, display items, bags, replacement parts or manufacturing supplies; (b) is not held on consignment, nor subject to any deposit or down payment; (c) is in new and saleable condition and is not damaged, defective, shopworn or
otherwise unfit for sale; (d) is not slow-moving, perishable, obsolete or unmerchantable, and does not constitute returned or repossessed goods; (e) meets all standards imposed by any Governmental Authority, has not been acquired from a
Person subject to any Sanction or on any specially designated nationals list maintained by OFAC, and does not constitute Hazardous Materials under any Environmental Law; (f) conforms with the covenants and representations herein; (g) is
subject to Agent’s or a Security Trustee’s duly perfected, first priority Lien, and no other Lien (other than Permitted Encumbrances and Liens permitted under Sections 10.2.2(a) and 10.2.2(r) (in each case provided that no
such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is prior to the Lien of Agent or of the Security Trustee, as applicable, unless a UK Availability Reserve is in effect with respect
thereto)); (h) is within the UK, U.S. or Mexico, is not in transit except between locations of UK Borrower, and is not consigned to any Person; (i) is not subject to any negotiable document; (j) is not subject to any License or other
arrangement that restricts UK Borrower’s or Agent’s right to dispose of such Inventory, unless Agent has received an appropriate Lien Waiver or an appropriate UK Rent and Charges Reserve has been established; and (k) is not located on

  
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leased premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person has delivered a Lien Waiver or
an appropriate UK Rent and Charges Reserve has been established; and (l) is reflected in the details of a current perpetual inventory report. 

“UK Facility Collateral” Collateral that now or hereafter secures (or is intended to secure) any of the UK
Facility Obligations. 
 “UK Facility Guarantor” each Dutch Domiciled Obligor, each U.S. Domiciled Obligor,
each Canadian Domiciled Obligor, each Mexican Domiciled Obligor, each UK Subsidiary Obligor, and each other Person that guarantees or is required to guarantee payment or performance of the UK Facility Obligations (including pursuant to a Foreign
Cross-Guarantee) pursuant to Section 10.1.9 and/or the Collateral and Guarantee Requirement. 
 “UK
Facility Obligations” all Obligations of the UK Facility Obligors owed to the UK Facility Secured Parties, and the other Foreign Facility Obligations that are the subject of a cross-Guarantee (including, without limitation, the Foreign
Cross-Guarantee) made by the UK Facility Obligors. 
 “UK Facility Obligor” UK Borrower, each UK Facility
Guarantor and each other Person that has or is required pursuant to Section 10.1.9 and/or the Collateral and Guarantee Requirement to grant a Lien on its assets in favor of Agent or any Security Trustee to secure any UK Facility
Obligations. 
 “UK Facility Secured Parties” Agent, UK Issuing Bank, UK Lenders, UK Security Trustee, any
other Security Trustee with respect to the UK Facility Obligations, and Secured Bank Product Providers of Bank Products for the account of UK Domiciled Obligors and their Affiliates domiciled in the UK, and the other Foreign Facility Secured Parties
that are the beneficiaries of a Foreign Cross-Guarantee made by the UK Domiciled Obligors. 
 “UK
Guaranties” each guaranty executed by a UK Facility Guarantor in favor of Agent in order to guaranty the payment and/or performance of the UK Facility Obligations (including without limitation this Agreement and the Foreign Facility
Guarantee and Collateral Agreement). 
 “UK Inventory Formula Amount” (a) the lesser of (i) 70%
of the Value of UK Eligible Inventory or (ii) 85% of the NOLV Percentage of the Value of UK Eligible Inventory; plus (b) the lesser of (i) 70% of the Value of Eligible In-Transit Inventory owned by UK Borrower or (ii) 85% of the
NOLV Percentage of the Value of Eligible In-Transit Inventory owned by UK Borrower; provided that (i) prior to the date that the conditions set forth in clause (b) of the definition of “Eligible In-Transit Inventory” are met,
whether or not an Eligible In-Transit Inventory Trigger Period has occurred and is continuing, the Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Borrowers shall not exceed an aggregate amount of $10,000,000 at any
time and (ii) the Inventory Formula Amount applicable to the Eligible In-Transit Inventory of all Foreign Borrowers that is in transit to Mexico shall not exceed an aggregate amount of $2,000,000 at any time. 

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

“UK IP Assignment” a Lien on the Intellectual Property of a UK Facility Obligor in favor of Agent or a
Security Trustee, as security for (or given with the intent to secure) the UK Facility Obligations. 

  
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 “UK Issuing Bank” Bank of America (including any Lending
Office of Bank of America), any Affiliate thereof, or any replacement issuer appointed pursuant to Section 2.5 that agrees to issue UK Letters of Credit. 

“UK Issuing Bank Indemnitees” UK Issuing Bank and its officers, directors, employees, Affiliates, agents and
attorneys. 
 “UK LC Application” an application by Borrower Agent or UK Borrower to UK Issuing Bank for
issuance of a UK Letter of Credit, in form and substance satisfactory to UK Issuing Bank and Agent. 
 “UK LC
Conditions” the following conditions necessary for issuance of a UK Letter of Credit: (a) each of the conditions set forth in Section 6; (b) after giving effect to such issuance, total UK LC Obligations do not exceed the UK
Letter of Credit Subline, no UK Overadvance exists and UK Revolver Usage does not exceed the UK Borrowing Base; (c) the UK Letter of Credit and payments thereunder are denominated in Sterling, Euros, Dollars or other currency satisfactory to
Agent and UK Issuing Bank; and (d) the purpose and form of the proposed UK Letter of Credit are satisfactory to Agent and UK Issuing Bank in their Permitted Discretion. 

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

“UK LC Obligations” the Dollar Equivalent of the sum of (a) all amounts owing by UK Borrower for
drawings under UK Letters of Credit; and (b) the Stated Amount of all outstanding UK Letters of Credit. 
 “UK
LC Request” a request for issuance of a UK Letter of Credit, to be provided by Borrower Agent or UK Borrower to UK Issuing Bank, in form satisfactory to Agent and UK Issuing Bank. 

“UK Lenders” Bank of America, each other lender party to this Agreement that has issued a UK Revolver
Commitment, the UK Swingline Lender, and any Person who hereafter becomes a “Lender” with a UK Revolver Commitment pursuant to an Assignment, including any Lending Office of the foregoing. 

“UK Letter of Credit” any standby or documentary letter of credit, foreign guaranty, documentary bankers
acceptance or similar instrument issued by UK Issuing Bank for the account or benefit of UK Borrower or an Affiliate of UK Borrower. 

“UK Letter of Credit Subline” the lesser of (a) $0 and (b) the UK Revolver Commitments. 

“UK Mortgage” a Lien on any Mortgaged Property to secure (or given with the intent to secure) the UK Facility
Obligations. Each UK Mortgage shall be in form and substance reasonably satisfactory to Agent. 
 “UK
Overadvance” as defined in Section 2.1.5. 
 “UK Overadvance Loan” a UK Base Rate Loan
made to UK Borrower when a UK Overadvance exists or is caused by the funding thereof. 

  
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 “UK Overadvance Loan Balance” on any date, the Dollar
Equivalent of the amount by which the aggregate UK Revolver Loans of the UK Borrower exceed the amount of the UK Borrowing Base on such date. 

“UK Protective Advances” as defined in Section 2.1.6. 

“UK Reimbursement Date” as defined in Section 2.3.2. 

“UK Rent and Charges Reserve” the aggregate of (a) all past due rent and other amounts owing by UK
Borrower to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any UK Facility Collateral or could assert a Lien on any UK Facility Collateral; and (b) a reserve at least
equal to two months’ rent and other charges that could be payable to any such Person, unless it has executed a Lien Waiver. 

“UK Revolver Commitment” for any UK Lender, its obligation to make UK Revolver Loans and to participate in UK
LC Obligations up to the maximum principal amount shown on Schedule 1.1(B), as hereafter modified pursuant to Section 2.1.4, Section 2.1.7 or an Assignment to which it is a party. “UK Revolver
Commitments” means the aggregate amount of such commitments of all UK Lenders. 
 “UK Revolver
Loan” a loan made by a UK Lender to UK Borrower pursuant to Section 2.1, which loan shall be either a LIBOR Loan (in which case such loan shall be denominated in Sterling, Dollars or Euros) or a UK Base Rate Loan (in which case
such loan shall be denominated in Dollars), in each case as selected by the Borrower Agent on behalf of the UK Borrower, and any UK Swingline Loan, UK Overadvance Loan or UK Protective Advance. 

“UK Revolver Usage” the Dollar Equivalent of an amount equal to (a) the aggregate amount of outstanding
UK Revolver Loans; plus (b) the aggregate Stated Amount of outstanding UK Letters of Credit, except to the extent Cash Collateralized by UK Borrower. 

“UK Security Agreements” the UK Debenture, the UK Share Mortgage and each other debenture or security
agreement governed by English law among any Obligor and Agent or UK Security Trustee. 
 “UK Security
Documents” the UK Security Agreements, the UK Guaranties, the UK Mortgages, the UK IP Assignments, the UK Deposit Account Control Agreements, the Foreign Facility Guarantee and Collateral Agreement, the Dutch Security Documents, the Mexican
Security Documents, the Canadian Security Documents, the U.S. Security Documents and all other documents, instruments and agreements now or hereafter securing (or given with the intent to secure) any UK Facility Obligations. 

“UK Security Trustee” Bank of America (London) or any successor security trustee appointed in accordance with
Section 12.2. 
 “UK Share Mortgage” the share mortgage governed by English law among Cequent
Nederland Holdings B.V. and UK Security Trustee. 
 “UK Subsidiary” each Subsidiary that is incorporated or
organized under the laws of any legal jurisdiction of the United Kingdom. 
 “UK Subsidiary Obligor” any
Subsidiary directly owned by a UK Domiciled Obligor that is not an Immaterial Subsidiary. 

  
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 “UK Swingline Lender” Bank of America or an Affiliate of
Bank of America in its capacity as provider of UK Swingline Loans. 
 “UK Swingline Loan” any Borrowing of
UK Revolver Loans funded with UK Swingline Lender’s funds, until such Borrowing is settled among UK Lenders or repaid by UK Borrower, which UK Revolver Loan shall be a UK Base Rate Loan. 

“Unfunded Current Liability” of any Canadian Pension Plan shall mean the excess of the present value of the
benefit liabilities determined on a plan termination basis in accordance with actuarial assumptions over the current value of the assets, and in any event includes any unfunded liability, solvency liability or wind up deficiency in respect of any
Canadian Pension Plan. 
 “Unrestricted Domestic Cash” as of any date, domestic unrestricted cash and
domestic unrestricted Permitted Investments of the Parent Borrower and its Domestic Subsidiaries as of such date. 

“Unrestricted Foreign Cash” as of any date, unrestricted cash and unrestricted Permitted Investments of the
Obligors (other than Parent Borrower and its Domestic Subsidiaries) as of such date. 
 “Unused Line Fee
Rate” a per annum rate equal to 0.25%. 
 “U.S. or United States” the United States of
America. 
 “U.S. Accounts Formula Amount” 85% of the Value of U.S. Eligible Accounts; provided,
however, that such percentage shall be reduced by 1.0% for each percentage point (or portion thereof) that the Dilution Percent exceeds 5%. 

“U.S. Adjusted Availability” the difference of (a) the U.S. Borrowing Base, calculated as though the
FILO Amount were equal to $0, minus (b) U.S. Revolver Usage. 
 “U.S. Availability” the U.S.
Borrowing Base minus U.S. Revolver Usage. 
 “U.S. Availability Reserve” the sum (without
duplication) of (a) the U.S. Inventory Reserve; (b) the U.S. Rent and Charges Reserve; (c) the U.S. Bank Product Reserve; (d) the aggregate amount of liabilities secured by Liens upon U.S Facility Collateral that are (or, in the
opinion of Agent in the exercise of its Permitted Discretion, may be) senior to Agent’s Liens or any Security Trustee’s Liens or that Agent in its Permitted Discretion determines may be required to be paid to permit or facilitate exercise
of rights or remedies with respect to U.S. Facility Collateral (but imposition of any such reserve shall not waive an Event of Default arising therefrom); (e) the Foreign Allocated U.S. Availability Reserve, (f) the U.S. Special Availability Block and (fg) such additional reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion may elect to impose from time to time;
provided the imposition of any such reserves or change in a reserve after the Closing Date shall not be effective until two (2) Business Days after notice thereof (which may be oral notice, promptly confirmed in writing) to the Borrower
Agent unless (i) a Default has occurred and is then continuing, (ii) the reserve or change in reserve is the result of a Lien, senior in priority to Agent’s or applicable Security Trustee’s Lien, attached to any U.S. Facility
Collateral that is Revolver Priority Collateral included in the U.S. Borrowing Base and/or (iii) the changes to any such reserve results solely from mathematical calculations of the amount of such reserve in accordance with the methodology of
calculation previously utilized (in the case of each of which such reserve or change in reserve shall be effective immediately); provided further that during any such two (2) Business Day notice period, Lenders shall have no
obligations to fund any U.S. Revolver Loan or cause to be issued any U.S. Letter of Credit to the extent that, after giving pro forma effect to the making of such U.S. Revolver Loan or issuance of such U.S. Letter of 

  
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Credit and to the establishment of any such new reserve or change in such reserve, a U.S. Overadvance would exist; and provided still further that the Foreign Allocated U.S.
Availability Reserve and changes thereto will be effective immediately without necessity of notice to Borrower Agent. 

“U.S. Bank Product Reserve” the aggregate amount of reserves established by Agent from time to time in its
Permitted Discretion in respect of Secured Bank Product Obligations for the account of the U.S. Domiciled Obligors and the Affiliates thereof domiciled in the U.S. 

“U.S. Bankruptcy Code” Title 11 of the United States Code. 

“U.S. Base Rate” for any day, a per annum rate equal to the greater of (a) the Prime Rate for such day;
(b) the Federal Funds Rate for such day, plus 0.50%; or (c) LIBOR for a 30 day interest period as of such day, plus 1.0%. 

“U.S. Base Rate Loan” any Revolver Loan that bears interest based on the U.S. Base Rate. 

“U.S. Borrowers” Parent Borrower, Cequent Performance and Cequent Consumer (each as defined in the preamble
to this Agreement). 
 “U.S. Borrowing Base” on any date of determination, an amount equal to the lesser of
(a) the aggregate U.S. Revolver Commitments and (b) the sum of the U.S. Accounts Formula Amount, plus the U.S. Inventory Formula Amount, plus on and after the FILO Commencement Date, the FILO Amount, minus the U.S.
Availability Reserve; provided, however, that no Accounts, Inventory or other Property acquired in a Permitted Acquisition or otherwise outside the Ordinary Course of Business shall be included in the calculation of the U.S. Borrowing Base
until completion of a customary due diligence investigation by Agent, which may in Agent’s sole discretion include applicable field examinations and appraisals (which shall not be included in the limits on the number of field examinations or
appraisals provided in Section 10.1.1) satisfactory to Agent. 
 “U.S. Cash Collateral Account”
a demand deposit, money market or other account established by Agent at such financial institution as Agent may select in its Permitted Discretion, which account shall be subject to a Lien in favor of Agent for the benefit of the U.S. Facility
Secured Parties. 
 “U.S. Commitment Termination Date” the earliest to occur of (a) the Revolver
Termination Date; (b) the date on which U.S. Borrowers terminate the U.S. Revolver Commitments pursuant to Section 2.1.4; or (c) the date on which the U.S. Revolver Commitments are terminated pursuant to Section 11.2. 

“U.S. Deposit Account Control Agreement” a control agreement satisfactory to Agent executed by an institution
maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account, as security for (or given with the intent to secure) the Obligations. 

“U.S. Domiciled Obligor” each U.S. Borrower and each U.S. Subsidiary that is or is required to be liable for
payment of any Obligations or that has granted a Lien on its assets in favor of Agent or any Security Trustee to secure any Obligations, and “U.S. Domiciled Obligors” means all such Persons, collectively. 

“U.S. Dominion Account(s)” one or more special accounts established by one or more U.S. Borrowers at Bank of
America or another bank reasonably acceptable to Agent, and, as required under Section 8.2.4, with respect to which Agent has the right to issue a notice of exclusive control for withdrawal purposes during a Dominion Trigger Period. 

  
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 “U.S. Eligible Account” an Account owing to a U.S. Borrower
that arises in the Ordinary Course of Business from the sale of goods, is payable in Dollars and is deemed by Agent, in its Permitted Discretion, to be a U.S. Eligible Account. Without limiting the foregoing, no Account shall be a U.S. Eligible
Account if (a) it is unpaid for more than 60 days after the original due date, or more than 120 days after the original invoice date; (b) 50% or more of the Accounts owing by the Account Debtor are not U.S. Eligible Accounts under the
foregoing clause; (c) when aggregated with other Accounts owing by the Account Debtor, it exceeds (but solely to the extent of such excess) 15% of the aggregate U.S. Eligible Accounts (or such higher percentage as Agent may establish for the
Account Debtor from time to time); (d) it does not conform with a covenant or representation herein; (e) it is owing by a creditor or supplier, or is otherwise subject to a potential offset, counterclaim, dispute, deduction, discount,
recoupment, reserve, defense, chargeback, credit or allowance (but ineligibility shall be limited to the amount thereof); (f) an Insolvency Proceeding has been commenced by or against the Account Debtor; or the Account Debtor has failed, has
suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, is not Solvent, or is subject to any Sanction or on any specially designated nationals list maintained by OFAC; or the applicable U.S. Borrower is not able to
bring suit or enforce remedies against the Account Debtor through judicial process, unless the Account is supported by a letter of credit (delivered to and directly drawable by Agent) from a financial institution reasonably acceptable to Agent and
on terms reasonably satisfactory to Agent; (g) the Account Debtor is organized or has its principal offices or assets outside the United States or Canada, unless the Account is supported by a letter of credit (delivered to and directly drawable
by Agent) from a financial institution reasonably acceptable to Agent and on terms reasonably satisfactory to Agent; (h) it is owing by a Governmental Authority, unless the Account Debtor is the United States or any department, agency or
instrumentality thereof and the Account has been assigned to Agent in compliance with the federal Assignment of Claims Act; (i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any other Lien (other
than Permitted Encumbrances and Liens permitted under Sections 10.2.2(a) and 10.2.2(r) (in each case provided that no such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is
prior to the Lien of Agent or of the Security Trustee, as applicable, unless a U.S. Availability Reserve is in effect with respect thereto)); (j) the goods giving rise to it have not been delivered to the Account Debtor, the services giving
rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; (k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; (l) its payment has been extended
or the Account Debtor has made a partial payment; (m) it arises from a sale to an Affiliate, from a sale on a cash-on-delivery, bill-and-hold, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale
for personal, family or household purposes; (n) it represents a progress billing or retainage, or relates to services for which a performance, surety or completion bond or similar assurance has been issued; or (o) it includes a billing for
interest, fees or late charges, but ineligibility shall be limited to the extent thereof. In calculating delinquent portions of Accounts under clauses (a) and (b), credit balances more than 120 days old will be excluded. 

“U.S. Eligible Inventory” Inventory owned by a U.S. Borrower that Agent, in its Permitted Discretion, deems
to be U.S. Eligible Inventory. Without limiting the foregoing, no Inventory shall be U.S. Eligible Inventory unless it (a) is finished goods or raw materials or work-in-process and not packaging or shipping materials, labels, samples, display
items, bags, replacement parts or manufacturing supplies; (b) is not held on consignment, nor subject to any deposit or down payment; (c) is in new and saleable condition and is not damaged, defective, shopworn or otherwise unfit for sale;
(d) is not slow-moving, perishable, obsolete or unmerchantable, and does not constitute returned or repossessed goods; (e) meets all standards imposed by any Governmental Authority, has not been acquired from a Person subject to any
Sanction or on any specially designated nationals list maintained by OFAC, and does not constitute Hazardous Materials under any Environmental Law; (f) conforms with the covenants and representations herein; (g) is subject to Agent’s
duly perfected, first priority Lien, and no other Lien 

  
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 (other than Permitted Encumbrances and Liens permitted under Sections 10.2.2(a)
and 10.2.2(r) (in each case provided that no such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is prior to the Lien of Agent or of the Security Trustee, as applicable, unless
a U.S. Availability Reserve is in effect with respect thereto)); (h) is within the continental United States or Canada, is not in transit except between locations of U.S. Borrowers, and is not consigned to any Person; (i) is not subject to
any negotiable document; (j) is not subject to any License or other arrangement that restricts such U.S. Borrower’s or Agent’s right to dispose of such Inventory, unless Agent has received an appropriate Lien Waiver or an appropriate
U.S. Rent and Charges Reserve has been established; and (k) is not located on leased premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person
has delivered a Lien Waiver or an appropriate U.S. Rent and Charges Reserve has been established; and (l) is reflected in the details of a current perpetual inventory report. 

“U.S. Facility Collateral” Collateral that now or hereafter secures (or is intended to secure) any of the
U.S. Facility Obligations. 
 “U.S. Facility Collateral and Guarantee Requirement” with respect to any and
all U.S. Facility Obligors, the requirement that, subject to any applicable limitations set forth in the Security Documents: 

(a)         Agent shall have received from each party thereto (other than Agent)
either (i) a counterpart of each applicable U.S. Security Document, duly executed and delivered on behalf of such U.S. Facility Obligor, or (ii) in the case of any Person that becomes a U.S. Facility Obligor after the Original Closing
Date, a joinder to this Agreement and a supplement to each applicable U.S. Security Document and the Intercreditor Agreement, in each case in the form specified therein, duly executed and delivered on behalf of such U.S. Facility Obligor; 

(b)         all outstanding Equity Interests of the Parent Borrower and each
Subsidiary owned by or on behalf of any U.S. Facility Obligor shall have been pledged pursuant to the Guarantee and Collateral Agreement (except that the U.S. Facility Obligors shall not be required to pledge more than 65% of the outstanding voting
Equity Interests of any Foreign Subsidiary, any CFC (other CFC, or any CFC Holdcothan any CFC organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands)) to secure the U.S. Facility Obligations; provided, however, that if one or more of
the Senior Term Loan Documents and/or the Term Loan Documents would require
a greater pledge, the limitation in this parenthetical shall be automatically deemed to be modified to require a pledge equivalent to that required
by the Senior Term Loan Documents and/or the Term Loan Documents) and,
subject to the Intercreditor Agreement, Agent or the Controlling Term Loan
Agent, as applicable, shall have received certificates or other instruments representing all such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 

(c)         all Debt for borrowed money having an aggregate principal amount in excess
of $500,000 that is owing to any U.S. Facility Obligor shall be evidenced by a promissory note and shall have been pledged pursuant to the Guarantee and Collateral Agreement and subject to the Intercreditor Agreement, Agent and/or the Controlling Term Loan Agent, as applicable, shall have received all such promissory
notes, together with instruments of transfer with respect thereto endorsed in blank; 
 (d)
        all documents and instruments, including UCC financing statements, required by law or reasonably requested by Agent to be filed, registered or recorded to create the Liens intended to be created by the
U.S. Security Documents and perfect such Liens to the extent required by, and with the priority required by, the U.S. Security Documents (in each case subject to the Intercreditor Agreement), shall have been filed, registered or recorded or
delivered to Agent for filing, registration or recording; 

  
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 (e)         Agent shall have
received, with respect to any Mortgaged Property of any U.S. Facility Obligor, (i) counterparts of a U.S. Mortgage with respect to such Mortgaged Property duly executed and delivered by the record owner of such Mortgaged Property, (ii) a
policy or policies of title insurance issued by a nationally recognized title insurance company insuring the Lien of each such U.S. Mortgage as a valid first Lien on the Mortgaged Property described therein, free of any other Liens except as
expressly permitted by Section 10.2.2, together with such endorsements, coinsurance and reinsurance as Agent or the Required Lenders may reasonably request, but only to the extent such endorsements are (A) available in the relevant
jurisdiction (provided in no event shall Agent request a creditors’ rights endorsement) and (B) available at commercially reasonable rates, (iii) if any such Mortgaged Property is located in an area determined by the Federal
Emergency Management Agency to have special flood hazards, evidence of such flood insurance as may be required under Applicable Law, including Regulation H of the Board of Governors, and an acknowledged notice to U.S. Facility Obligors, (iv) if
reasonably requested by Agent, a current appraisal of any such Mortgaged Property, prepared by an appraiser acceptable to Agent, and in form and substance satisfactory to Required Lenders (it being understood that if such appraisal is required in
order to comply with Agent’s internal policies, such request shall be deemed to be reasonable), (v) if reasonably requested by Agent, an environmental assessment with respect to any such Mortgaged Property, prepared by environmental
engineers reasonably acceptable to Agent, and such other reports, certificates, studies or data with respect to such Mortgaged Property as Agent may reasonably require, all in form and substance reasonably satisfactory to Required Lenders (it being
understood that if such assessment or other materials are required in order to comply with Agent’s internal policies, such request shall be deemed to be reasonable), and (vi) such abstracts, legal opinions and other documents as Agent or
the Required Lenders may reasonably request with respect to any such U.S. Mortgage or Mortgaged Property; provided, however, in no event shall surveys be required to be obtained with respect to any such Mortgaged Property; and 

(f)         each U.S. Facility Obligor shall have obtained all material consents and
approvals required to be obtained by it in connection with the execution and delivery of all U.S. Security Documents to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens thereunder, and in each
case except to the extent not required to be obtained pursuant to the Loan Documents; 
 provided, that, (i) with respect to any U.S. Facility Obligor that is a Foreign Subsidiary organized under the laws of Germany, the
United Kingdom (or any political subdivision thereof), or the Netherlands, the U.S. Collateral and Guarantee Requirement shall require the provision of the documents and satisfaction of the requirements set forth in Schedule I to the Fourth
Amendment and (ii) with respect to any U.S. Facility Obligor that is a Foreign Subsidiary organized under the laws of any other jurisdiction, the U.S. Collateral and Guarantee Requirement shall be modified as reasonably requested by the
Required Lenders to reflect the requirements and limitations of the jurisdiction in which such Foreign Subsidiary is organized. 

“U.S. Facility Guarantor” each U.S. Borrower, Horizon Global Company LLC, a Delaware limited liability
company, each other U.S. Subsidiary Obligor. and each other Person that has or is required by Section 10.1.9 and/or the
U.S. Facility Collateral and Guarantee Requirement to provide a guarantee in favor of Agent of any U.S. Facility Obligations. 

“U.S. Facility Obligor” each U.S. Borrower, each U.S. Facility Guarantor and each other Person that has or is
required by Section 10.1.9 and/or the U.S. Facility Collateral and Guarantee Requirement to grant a Lien on its assets in favor of Agent to secure any U.S. Facility Obligations. 

  
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 “U.S. Facility Obligations” all Obligations of the U.S.
Facility Obligors owed to the U.S. Facility Secured Parties and the Obligations of the U.S. Facility Guarantors as guarantors of the Foreign Facility Obligations). 

“U.S. Facility Secured Parties” Agent, U.S. Issuing Bank, U.S. Lenders and Secured Bank Product Providers of
Bank Products for the account of U.S. Domiciled Obligors and their Affiliates domiciled in the U.S. 
 “U.S.
Guaranties” the Guarantee and Collateral Agreement and each other guaranty agreement executed by a U.S. Facility Guarantor in favor of Agent in order to guarantee the payment and/or performance of the U.S. Facility Obligations (including
without limitation this Agreement). 
 “U.S. Holdco” any existing or future Domestic Subsidiary the Equity
Interests of which are held solely by Foreign Subsidiaries, so long as such existing or newly formed Subsidiary does not engage in any business or own any assets other than the ownership of Equity Interests in Foreign Subsidiaries and intercompany
obligations that are otherwise permitted hereunder. 
 “U.S. Inventory Formula Amount” (a) the lesser
of (i) 70% of the Value of U.S. Eligible Inventory or (ii) 85% of the NOLV Percentage of the Value of U.S. Eligible Inventory; plus (b) the lesser of (i) 70% of the Value of Eligible In-Transit Inventory owned by a U.S. Borrower,
or (ii) 85% of the NOLV Percentage of the Value of Eligible In-Transit Inventory owned by a U.S. Borrower; provided that notwithstanding anything to the contrary contained in this Agreement, prior to the date that the conditions set forth in
clause (b) of the definition of “Eligible In-Transit Inventory” are met, whether or not an Eligible In-Transit Inventory Trigger Period has occurred and is continuing, the Inventory Formula Amount applicable to the Eligible In-Transit
Inventory of all Borrowers shall not exceed an aggregate amount of $10,000,000 at any time. 
 “U.S. Inventory
Reserve” reserves established by Agent to reflect factors that may negatively impact the Value of Inventory of the U.S. Borrowers, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition
or mix, markdowns and vendor chargebacks. 
 “U.S. IP Assignment” a collateral assignment or security
agreement pursuant to which a U.S. Facility Obligor grants a Lien on its Intellectual Property to Agent, as security for (or given with the intent to secure) the U.S. Facility Obligations. 

“U.S. Issuing Bank” Bank of America (including any Lending Office of Bank of America), any Affiliate thereof,
or any replacement issuer appointed pursuant to Section 2.5 that agrees to issue U.S. Letters of Credit. 

“U.S. Issuing Bank Indemnitees” U.S. Issuing Bank and its officers, directors, employees, Affiliates, agents
and attorneys. 
 “U.S. LC Application” an application by Borrower Agent or a U.S. Borrower to U.S. Issuing
Bank for issuance of a U.S. Letter of Credit, in form and substance satisfactory to U.S. Issuing Bank and Agent. 

“U.S. LC Conditions” the following conditions necessary for issuance of a U.S. Letter of Credit: (a) each of
the conditions set forth in Section 6; (b) after giving effect to such issuance, total U.S. LC Obligations do not exceed the U.S. Letter of Credit Subline, no U.S. Overadvance exists and U.S. Revolver Usage does not exceed the U.S.
Borrowing Base; (c) the U.S. Letter of Credit and payments 

  
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 thereunder are denominated in Dollars or other currency satisfactory to Agent and U.S.
Issuing Bank; and (d) the purpose and form of the proposed U.S. Letter of Credit are satisfactory to Agent and U.S. Issuing Bank in their Permitted Discretion. 

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

“U.S. LC Obligations” the sum of (a) all amounts owing by U.S. Borrowers for drawings under U.S. Letters
of Credit; and (b) the Stated Amount of all outstanding U.S. Letters of Credit. 
 “U.S. LC Request” a
request for issuance of a U.S. Letter of Credit, to be provided by Borrower Agent or a U.S. Borrower to U.S. Issuing Bank, in form satisfactory to Agent and U.S. Issuing Bank. 

“U.S. Lenders” Bank of America, each other lender party to this Agreement that has issued a U.S. Revolver
Commitment, U.S. Swingline Lender, and any Person who hereafter becomes a “Lender” with a U.S. Revolver Commitment pursuant to an Assignment, including any Lending Office of the foregoing. 

“U.S. Letter of Credit” any of the Existing Letters of Credit and any standby or documentary letter of
credit, foreign guaranty, documentary bankers acceptance or similar instrument issued by U.S. Issuing Bank for the account or benefit of a U.S. Borrower or Affiliate of a U.S. Borrower. 

“U.S. Letter of Credit Subline” the lesser of (a) the positive difference of (i) $20,000,000 less
(ii) the sum of all Canadian LC Obligations and UK LC Obligations and (b) the U.S. Revolver Commitments. 

“U.S. Mortgage” a mortgage, deed of trust, assignment of leases and rents, leasehold mortgage or other
security document granting a Lien on any Mortgaged Property to secure (or given with the intent to secure) the U.S. Facility Obligations. Each U.S. Mortgage shall be in form and substance reasonably satisfactory to Agent. 

“U.S. Obligor” any Obligor that is both a U.S. Domiciled Obligor and a U.S. Facility Obligor. 

“U.S. Overadvance” as defined in Section 2.1.5. 

“U.S. Overadvance Loan” a U.S. Base Rate Loan made to the U.S. Borrowers when an U.S. Overadvance exists or
is caused by the funding thereof. 
 “U.S. Overadvance Loan Balance” on any date, the amount by which the
aggregate U.S. Revolver Loans of the U.S. Borrowers exceed the amount of the U.S. Borrowing Base on such date. 

“U.S. Pension Plan” any employee pension benefit plan (other than a Multiemployer 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 the Parent 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. 
 “U.S. Person”
“United States Person” as defined in Section 7701(a)(30) of the Code. 
 “U.S. Protective
Advances” as defined in Section 2.1.6. 
 “U.S. Reimbursement Date” as defined in
Section 2.4.2. 

  
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 “U.S. Rent and Charges Reserve” the aggregate of
(a) all past due rent and other amounts owing by a U.S. Borrower to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any U.S. Facility Collateral or could assert a Lien
on any U.S. Facility Collateral; and (b) a reserve at least equal to two months’ rent and other charges that could be payable to any such Person, unless it has executed a Lien Waiver. 

“U.S. Revolver Commitment” for any U.S. Lender, its obligation to make U.S. Revolver Loans and to participate
in U.S. LC Obligations up to the maximum principal amount shown on Schedule 1.1(B), as hereafter modified pursuant to Section 2.1.4, Section 2.1.7, Section 2.1.8 or an Assignment to which it is a party.
“U.S. Revolver Commitments” means the aggregate amount of such commitments of all Lenders. 
 “U.S.
Revolver Loan” a loan made in Dollars by a U.S. Lender to a U.S. Borrower made pursuant to Section 2.1, and any U.S. Swingline Loan, U.S. Overadvance Loan or U.S. Protective Advance. 

“U.S. Revolver Usage” (a) the aggregate amount of outstanding U.S. Revolver Loans; plus
(b) the aggregate Stated Amount of outstanding U.S. Letters of Credit, except to the extent Cash Collateralized by U.S. Borrowers. 

“U.S. Security Documents” the U.S. Guaranties, the Guarantee and Collateral Agreement, the U.S. Mortgages,
the U.S. IP Assignments, the U.S. Deposit Account Control Agreements, and all other documents, instruments and agreements now or hereafter securing (or given with the intent to secure) any U.S Facility Obligations. 

“U.S.
Special Availability Block” means $6,700,000. 

“U.S. Subsidiary” each Subsidiary that is organized under the laws of a jurisdiction of the United States of
America or any State thereof or the District of Columbia. 
 “U.S. Subsidiary Obligor” means any Subsidiary that is not (a) a Foreign Subsidiary, (b) a CFC, (c) a CFC Holdco, (other than any
Foreign Subsidiary organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands), (b) a CFC (other than any CFC organized under the laws of Germany, the United Kingdom (or any political
subdivision thereof) or the Netherlands), (c) a U.S. Holdco or (d) a U.S. Holdco or (e) an Immaterial Subsidiary.; provided, that the Required Lenders, in their sole discretion,
may at any time request any Foreign Subsidiary, CFC or U.S. Holdco to become a U.S. Subsidiary Obligor if such Foreign Subsidiary, CFC or U.S. Holdco has become a “Loan Party” under the Senior Term Loan Documents. 
 “U.S. Swingline Lender” Agent in its capacity as provider
of U.S. Swingline Loans. 
 “U.S. Swingline Loan” any Borrowing of U.S. Base Rate Loans funded with U.S.
Swingline Lender’s funds, until such Borrowing is settled among U.S. Lenders or repaid by U.S. Borrowers. 

“U.S. Tax Compliance Certificate” as defined in Section 5.9.2(b)(iii). 

“Value” (a) for any particular type of Inventory (whether raw materials, work-in-process or finished
goods), 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 returns, 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.

  
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 “VAT” 

“(a) any Tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value
added tax (EC Directive 2006/112); and 
 “(b) any other Tax of a similar nature, whether imposed in a member state of
the European Union in substitution for, or levied in addition to, such Tax referred to in paragraph (a) above, or imposed elsewhere. 

“VAT Recipient” as defined in Section 5.8.4. 

“VAT Relevant Party” as defined in Section 5.8.4. 

“VAT Supplier” as defined in Section 5.8.4. 

“Westfalia Acquisition” the acquisition of all Equity Interests of Westfalia-Automotive Holding GmbH, a
limited liability company organized under the laws of Germany, and TeIJs Holding B.V., a private company with limited liability organized under the laws of the Netherlands (collectively, the “Westfalia Group”), by Blitz K16-102
GmbH, a limited liability company organized under the laws of Germany, and the guarantee by Parent Borrower of the obligations of Blitz K16-102 GmbH, a limited liability company organized under the laws of Germany, under the Westfalia Purchase
Agreement, all pursuant to the Westfalia Purchase Agreement and all in accordance with the terms of the Westfalia Purchase Agreement without giving effect to any amendment thereto. 

“Westfalia Acquisition Closing Date” means October 4, 2016. 

“Westfalia Group” as defined in the definition of “Westfalia Acquisition”. 

“Westfalia Purchase Agreement” that certain Sale and Purchase Agreement, recorded in Munich on
August 24, 2016, by and among Parcom Deutschland I GmbH & Co. KG, a limited partnership organized under the laws of Germany, as a seller; Co-Investment Partners Europe L.P., a limited partnership organized under the laws of the Cayman
Islands, as a seller; Bayernlb Private Equity GmbH, a limited liability company organized under the laws of Germany, as a seller; Walter Gnauert, an individual resident of Cavaion, Italy, as a seller; Dr. Bernd Welzel, an individual resident of
Bramsche, Germany, as a seller; Frank Klebedamz, an individual resident of Gladbeck, Germany, as a seller; Jurgen Lotter, an individual resident of Rosrath, Germany, as a seller; Westfalia Mitarbeiterbeteiligungs GmbH & Co. KG, a limited
partnership organized under the laws of Germany, as a seller; Blitz K16-102 GmbH, a limited liability company organized under the laws of Germany, as purchaser; and Parent Borrower, as guarantor. 

“Withdrawal Liability” 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. 
 “Write-Down and
Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which
write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

1.2        “Accounting Terms. Under the Loan Documents (except as
otherwise specified therein), all accounting terms shall be interpreted, all accounting determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis consistent with the

  
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audited financial statements of Borrowers delivered to Agent with respect to the Fiscal Year ending on December 31, 2014 and using the same inventory valuation method as used in such
financial statements, except for any change required or permitted by GAAP if Borrowers’ certified public accountants concur in such change, the change is disclosed to Agent, and all relevant provisions of the Loan Documents are amended in a
manner satisfactory to Required Lenders to take into account the effects of the change. 

1.3        Uniform Commercial Code/PPSA. 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,” “Equipment,” “Goods,” “Instrument” and “Investment
Property”; provided, however, that (a) as such terms relate to any such Property of any Canadian Domiciled Obligor, such terms shall refer to such Property as defined in the PPSA, to the extent applicable and (b) as such terms relate
to any such Property encumbered by or to be encumbered by a Mexican Security Document, such terms shall have the meanings assigned to them in such Mexican Security Document, to the extent applicable. In addition, other terms relating to Collateral
used and not otherwise defined herein that are defined in the UCC or the PPSA shall have the meanings set forth in the UCC or the PPSA, as applicable and as the context requires. 

1.4        Certain Matters of Construction. The terms
“herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. In
the computation of periods of time from a specified date to a later specified date, “from” means “from and including,” and “to” and “until” each mean “to but excluding.” The terms
“including” and “include” shall mean “including, without limitation” and, for purposes of each Loan Document, the parties agree that the rule of ejusdem generis shall not be applicable to limit any provision. Section
titles appear as a matter of convenience only and shall not affect the interpretation of any Loan Document. All references to (a) laws include all related regulations, interpretations, supplements, amendments and successor provisions;
(b) any document, instrument or agreement include any amendments, waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c) any section mean, unless the context otherwise requires, a
section of this Agreement; (d) any exhibits or schedules mean, unless the context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e) any Person include successors and assigns; or
(f) time of day mean time of day at Agent’s notice address under Section 14.3.1. All determinations (including calculations of the Total Borrowing Base, each component of the Total Borrowing Base and financial covenants) made
from time to time under the Loan Documents shall be made in light of the circumstances existing at such time. Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to Agent
(and not necessarily calculated in accordance with GAAP). Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by Agent, any Security Trustee, Issuing Bank or any Lender under any Loan Documents.
No provision of any Loan Documents shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision. Reference to a Borrower’s “knowledge” or similar concept means actual knowledge of
a Senior Officer, or knowledge that a Senior Officer would have obtained if he or she had engaged in good faith and diligent performance of his or her duties, including reasonably specific inquiries of employees or agents and a good faith attempt to
ascertain the matter. 
 1.5        Currency Equivalents. 

1.5.1     Calculations. All references in the Loan Documents to Loans, Letters of Credit,
Obligations, Borrowing Base components and other amounts shall be denominated in Dollars, unless expressly provided otherwise. The Dollar Equivalent of any amounts denominated or reported under a Loan Document in a currency other than Dollars shall
be determined by Agent on a daily basis, based on 

  
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the current Spot Rate. Borrowers shall report Value and other Borrowing Base components to Agent in the currency invoiced by Borrowers or shown in Borrowers’ financial records, and unless
expressly provided otherwise, shall deliver financial statements and calculate financial covenants in Dollars. Notwithstanding anything herein to the contrary, if any Obligation is funded and expressly denominated in a currency other than Dollars,
Borrowers shall repay such Obligation in such other currency. 

1.5.2        Judgments. If, for purposes of obtaining judgment in any court,
it is necessary to convert a sum from the currency provided under a Loan Document (“Agreement Currency”) into another currency, the Spot Rate shall be used as the rate of exchange. Notwithstanding any judgment in a currency
(“Judgment Currency”) other than the Agreement Currency, Obligors shall discharge their obligations in respect of any sum due under a Loan Document only if, on the Business Day following receipt by Secured Parties or Security
Trustees of payment in the Judgment Currency, such Secured Parties or such Security Trustees, as applicable, can use the amount paid to purchase the sum originally due in the Agreement Currency. If the purchased amount is less than the sum
originally due, Obligors agree, as a separate obligation and notwithstanding any such judgment, to indemnify such Secured Parties and Security Trustees against such loss. If the purchased amount is greater than the sum originally due, Secured
Parties or Security Trustees, as applicable, shall return the excess amount to Obligors (or to the Person legally entitled thereto). The covenants contained in this Section 1.5.2 shall survive the Full Payment of the Obligations. 

1.6        Interpretation (Québec). For purposes of any
Collateral located in the Province of Québec or charged by any Deed of Movable Hypothec (or any other Loan Document) and for all other purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws
of the Province of Québec or a court or tribunal exercising jurisdiction in the Province of Québec, (a) “personal property” shall be deemed to include “movable property”, (b) “real property” shall be
deemed to include “immovable property”, (c) “tangible property” shall be deemed to include “corporeal property”, (d) “intangible property” shall be deemed to include “incorporeal property”,
(e) “security interest”, “mortgage” and “lien” shall be deemed to include a “hypothec”, “prior claim” and a “resolutory clause”, (f) all references to filing, registering or
recording under the UCC or the PPSA shall be deemed to include publication under the Civil Code, (g) all references to “perfection” of or “perfected” Liens shall be deemed to include a reference to an “opposable”
or “set up” Liens as against third parties, (h) any “right of offset”, “right of setoff” or similar expression shall be deemed to include a “right of compensation”, (i) “goods” shall be
deemed to include “corporeal movable property” other than chattel paper, documents of title, instruments, money and securities, (j) an “agent” shall be deemed to include a “mandatary”, (k) “construction
liens” shall be deemed to include “legal hypothecs”, (l) “joint and several” shall be deemed to include “solidary”, (m) “gross negligence or willful misconduct” shall be deemed to be
“intentional or gross fault”, (n) “beneficial ownership” shall be deemed to include “ownership on behalf of another as mandatary”, (o) “servitude” shall be deemed to include “easement”,
(p) “priority” shall be deemed to include “prior claim”, (q) “survey” shall be deemed to include “certificate of location and plan”, and (r) “fee simple title” shall be deemed to
include “absolute ownership”. The parties hereto confirm that it is their wish that this Agreement and any other document executed in connection with the transactions contemplated herein be drawn up in the English language only (except if
another language is required under any Applicable Law) and that all other documents contemplated thereunder or relating thereto, including notices, may also be drawn up in the English language only. Les parties aux présentes confirment que
c’est leur volonté que cette convention et les autres documents de crédit soient rédigés en langue anglaise seulement et que tous les documents, y compris tous avis, envisagés par cette convention et les
autres documents peuvent être rédigés en la langue anglaise seulement (sauf si une autre langue est requise en vertu d’une loi applicable). 

  
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 SECTION 2 

CREDIT FACILITIES 

2.1        Revolver Commitment. 

2.1.1            Revolver Loans. 

(a)        Canadian Revolver Loans. Each Canadian Lender
agrees, severally on a Pro Rata basis up to its Canadian Revolver Commitment, on the terms set forth herein, to make Canadian Revolver Loans to Canadian Borrower from time to time through the Canadian Commitment Termination Date. The Canadian
Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Canadian Lenders have any obligation to honor a request for a Canadian Revolver Loan if Canadian Revolver Usage at such time plus the requested Canadian Revolver Loan
would exceed the Canadian Borrowing Base. 
 (b)        UK
Revolver Loans. Each UK Lender agrees, severally on a Pro Rata basis up to its UK Revolver Commitment, on the terms set forth herein, to make UK Revolver Loans to UK Borrower from time to time through the UK Commitment Termination Date. The UK
Revolver Loans may be repaid and reborrowed as provided herein. In no event shall UK Lenders have any obligation to honor a request for a UK Revolver Loan if UK Revolver Usage at such time plus the requested UK Revolver Loan would exceed the UK
Borrowing Base. 
 (c)        U.S. Revolver Loans.
Immediately prior to the effectiveness of this Agreement, the outstanding principal balance of the “Revolver Loans” as of the date hereof made under the Original Loan Agreement was $0.00 (the “Outstanding Original Revolver Loan
Balance”). Immediately upon giving effect to this Agreement, the Outstanding Original Revolver Loan Balance shall be continued and shall convert automatically, for all purposes of this Agreement, to outstanding U.S. Revolver Loans hereunder
owing to the U.S. Lenders as if such U.S. Revolver Loans had been made by the U.S. Lenders to U.S. Borrowers hereunder on a Pro Rata basis in accordance with their respective U.S. Revolver Commitments. Each U.S. Lender agrees, severally on a Pro
Rata basis up to its U.S. Revolver Commitment, on the terms set forth herein, to make U.S. Revolver Loans to U.S. Borrowers from time to time through the U.S. Commitment Termination Date. The U.S. Revolver Loans may be repaid and reborrowed as
provided herein. In no event shall U.S. Lenders have any obligation to honor a request for a U.S. Revolver Loan if U.S. Revolver Usage at such time plus the requested U.S. Revolver Loan would exceed the U.S. Borrowing Base. 

(d)        Cap on Total Revolver Usage. Notwithstanding
anything to the contrary contained in this Section 2.1.1, in no event shall any Borrower be entitled to receive a Revolver Loan if at the time of the proposed funding of such Revolver Loan (and after giving effect thereto and all
pending requests for Revolver Loans), the Total Revolver Usage exceeds (or would exceed) the Commitments. 

2.1.2            Notes. Loans and interest accruing
thereon shall be evidenced by the records of Agent and the applicable Lender. At the request of a Lender, Borrowers within the Borrower Group to which such Lender has extended a Commitment shall deliver promissory note(s) to such Lender, evidencing
its Loan(s), in the amount of such Lender’s Commitment to such Borrower Group. 

2.1.3            Use of Proceeds. The proceeds of Revolver
Loans shall be used by Borrowers solely (a) to satisfy existing Debt; (b) to pay fees and transaction expenses associated with the 

  
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closing of this credit facility; (c) to pay Obligations in accordance with this Agreement; and (d) for lawful corporate purposes of Borrowers, including working capital. 

2.1.4            Voluntary Reduction or Termination of
Revolver Commitments. 
 (a)        The Canadian Revolver
Commitments shall terminate on the Canadian Commitment Termination Date. Upon at least 90 days prior written notice to Agent from Borrower Agent at any time after the first Loan Year, Canadian Borrower may, at its option, terminate the Canadian
Revolver Commitments. On the Canadian Commitment Termination Date, Canadian Borrower shall make Full Payment of all Canadian Facility Obligations. 

(b)        The UK Revolver Commitments shall terminate on the UK
Commitment Termination Date. Upon at least 90 days prior written notice to Agent from Borrower Agent at any time after the first Loan Year, UK Borrower may, at its option, terminate the UK Revolver Commitments. On the UK Commitment Termination Date,
UK Borrower shall make Full Payment of all UK Facility Obligations. 

(c)        The U.S. Revolver Commitments shall terminate on the U.S.
Commitment Termination Date. Upon at least 90 days prior written notice to Agent from Borrower Agent at any time after the first Loan Year, U.S. Borrowers may, at their option, terminate the U.S. Revolver Commitments and this credit facility. If the
U.S. Borrowers elect to terminate the U.S. Revolver Commitments pursuant to the previous sentence, the Foreign Revolver Commitments shall automatically terminate concurrently with the termination of the U.S. Revolver Commitments. On the U.S.
Commitment Termination Date, U.S. Borrowers shall make Full Payment of all U.S. Facility Obligations. 

(d)        Any notice of termination given by Borrower Agent shall be
irrevocable. 
 (e)        Borrowers may permanently reduce the
Revolver Commitments, on a ratable basis for all Lenders, upon at least 90 days prior written notice from Borrower Agent to Agent delivered at any time after the first Loan Year, which notice shall (i) specify the amount of the reduction,
(ii) specify the allocation of the reduction to, and the corresponding reductions of, each Foreign Revolver Commitment and/or the U.S. Revolver Commitment (each of which shall be allocated to the Lenders among the affected Borrower Groups on a
ratable basis at the time of such reduction) and (iii) be irrevocable once given. Each reduction shall be in a minimum amount of $5,000,000, or an increment of $1,000,000 in excess thereof; provided that in no event may any reduction of
a Borrower Group Commitment be made pursuant to this Section 2.1.4(e) if, after giving effect thereto, the U.S. Revolver Commitments would be less than 75% of the Commitments. 

2.1.5            Overadvances. 

(a)        Canadian Overadvances. If Canadian Revolver Usage
exceeds the Canadian Borrowing Base (a “Canadian Overadvance”) at any time (whether as a result of fluctuations in Spot Rates or otherwise), the excess amount shall be payable by the Canadian Borrower on demand by Agent, but
all such Canadian Revolver Loans shall nevertheless constitute Canadian Facility Obligations secured by the Canadian Facility Collateral and entitled to all benefits of the Loan Documents. 

(b)        UK Overadvances. If UK Revolver Usage exceeds the
UK Borrowing Base (a “UK Overadvance”) at any time (whether as a result of fluctuations in Spot Rates or 

  
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 otherwise), the excess amount shall be payable by the UK Borrower on
demand by Agent, but all such UK Revolver Loans shall nevertheless constitute UK Facility Obligations secured by the UK Facility Collateral and entitled to all benefits of the Loan Documents. 

(c)        U.S. Overadvances. If U.S. Revolver Usage exceeds
the U.S. Borrowing Base (a “U.S. Overadvance”) at any time, the excess amount shall be payable by the U.S. Borrowers on demand by Agent, but all such U.S. Revolver Loans shall nevertheless constitute U.S. Facility Obligations
secured by the U.S. Facility Collateral and entitled to all benefits of the Loan Documents. 

(d)        Funding of Overadvance Loans. Agent may require
Applicable Lenders to honor requests for Overadvance Loans and to forbear from requiring the applicable Borrower(s) to cure an Overadvance, (a) when no other Event of Default is known to 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), and (ii) (A) if a Canadian Overadvance, such Overadvance, when combined
with all Canadian Protective Advances and all other Canadian Overadvances existing at such time, is not known by Agent to exceed 10% of the Canadian Borrowing Base, (B) if a UK Overadvance, such Overadvance, when combined with all UK Protective
Advances and all other UK Overadvances existing at such time, is not known by Agent to exceed 10% of the UK Borrowing Base or (C) if a U.S. Overadvance, such Overadvance, when combined with all U.S. Protective Advances and all other U.S.
Overadvances existing at such time, is not known by Agent to exceed 10% of the U.S. Borrowing Base; and (b) regardless of whether an Event of Default exists, if Agent discovers an Overadvance not previously known by it to exist, as long as from
the date of such discovery the Overadvance does not continue for more than 30 consecutive days. Required Lenders may at any time revoke Agent’s authority under the immediately preceding sentence to require Lenders to honor requests for
Overadvance Loans and to forbear from requiring the applicable Borrowers to cure an Overadvance by written notice to Agent. In no event shall Overadvance Loans be required that would cause (A) Canadian Revolver Usage to exceed the aggregate
Canadian Revolver Commitments, (B) the UK Revolver Usage to exceed the aggregate UK Revolver Commitments or (C) the U.S. Revolver Usage to exceed the aggregate U.S. Revolver Commitments. Any funding of an Overadvance Loan or sufferance of
an Overadvance shall not constitute a waiver by Agent or Lenders of the Event of Default caused thereby. In no event shall any Borrower or other Obligor be deemed a beneficiary of this Section nor authorized to enforce any of its terms. 

2.1.6            Protective Advances. 

(a)        Canadian Protective Advances. Agent shall be
authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make Canadian Base Rate Loans or Canadian Prime Rate Loans to Canadian Borrower (as applicable, through its Canadian Lending Office, branch
or Affiliate) (“Canadian Protective Advances”) (i) up to an aggregate amount, when combined with all Canadian Overadvances and all other Canadian Protective Advances, of 10% of the Canadian Borrowing Base outstanding at any
time, if Agent deems such Loans necessary or desirable to preserve or protect Canadian Facility Collateral, or to enhance the collectability or repayment of the Canadian Facility Obligations, as long as such Loans do not cause Canadian Revolver
Usage to exceed the Canadian Borrowing Base; or (ii) to pay any other amounts chargeable to Canadian Facility Obligors under any of the Loan Documents, including interest, costs, fees and expenses. Canadian Lenders shall participate on a Pro
Rata basis in Canadian Protective Advances outstanding from time to time. Required 

  
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Lenders may at any time revoke Agent’s authority to make further Canadian Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s
determination that funding of a Canadian Protective Advance is appropriate shall be conclusive. All Canadian Protective Advances shall be Canadian Facility Obligations, secured by the Canadian Facility Collateral and, if denominated in Canadian
Dollars, shall be treated for all purposes as a Canadian Prime Rate Loan or, if denominated in Dollars, shall be treated for all purposes as a Canadian Base Rate Loan. 

(b)        UK Protective Advances. Agent shall be authorized,
in its discretion, at any time that any conditions in Section 6 are not satisfied, to make UK Base Rate Loans to UK Borrower (“UK Protective Advances”) (i) up to an aggregate amount, when combined with all UK
Overadvances and all other UK Protective Advances, of 10% of the UK Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to preserve or protect UK Facility Collateral, or to enhance the collectability or repayment
of the UK Facility Obligations, as long as such Loans do not cause UK Revolver Usage to exceed the UK Borrowing Base; or (ii) to pay any other amounts chargeable to UK Facility Obligors under any of the Loan Documents, including interest,
costs, fees and expenses. UK Lenders shall participate on a Pro Rata basis in UK Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to make further UK Protective Advances under clause
(i) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a UK Protective Advance is appropriate shall be conclusive. All UK Protective Advances shall be UK Facility Obligations and secured by the UK
Facility Collateral. 
 (c)        U.S. Protective Advances.
Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, to make U.S. Base Rate Loans to U.S. Borrowers (“U.S. Protective Advances”) (i) up to an aggregate
amount, when combined with all U.S. Overadvances and all other U.S. Protective Advances, of 10% of the U.S. Borrowing Base outstanding at any time, if Agent deems such Loans necessary or desirable to preserve or protect U.S. Facility Collateral, or
to enhance the collectability or repayment of the U.S. Facility Obligations, as long as such Loans do not cause U.S. Revolver Usage to exceed the U.S. Borrowing Base; or (ii) to pay any other amounts chargeable to U.S. Facility Obligors under
any of the Loan Documents, including interest, costs, fees and expenses. U.S. Lenders shall participate on a Pro Rata basis in U.S. Protective Advances outstanding from time to time. Required Lenders may at any time revoke Agent’s authority to
make further U.S. Protective Advances under clause (i) by written notice to Agent. Absent such revocation, Agent’s determination that funding of a U.S. Protective Advance is appropriate shall be conclusive. All U.S. Protective Advances
shall be U.S. Facility Obligations and secured by the U.S. Facility Collateral. 

2.1.7      Reallocation of Revolver Commitments. 

(a)        Reallocation Mechanism. Subject to the terms and
conditions of this Section 2.1.7, the Borrower Agent may request that the Lenders to certain Borrower Groups (and such Lenders hereby agree to) change the then current allocation of each such Lender’s (and, if applicable,
each of its Affiliate’s and branch’s) Commitments among the Borrower Group Commitments in order to effect an increase or decrease to particular Borrower Group Commitments, with any such increase or decrease in a Borrower Group Commitment
to be accompanied by a concurrent and equal decrease or increase, respectively, in the other Borrower Group Commitments (each, a “Reallocation”). Any such Reallocation shall be subject to the

  
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following conditions: (i) the Borrower Agent shall have provided to Agent a written request (in reasonable detail) at least ten (10) Business Days prior to the requested effective date
therefor (which effective date must be a Business Day) (the “Reallocation Date”) setting forth the proposed Reallocation Date and the amounts of the proposed Borrower Group Commitment reallocations to be effected, (ii) any such
Reallocation shall increase or decrease the applicable Borrower Group Commitments in an amount equal to $2,500,000 and in increments of $500,000 in excess thereof, (iii) after giving effect to any such Reallocation (A) the U.S. Revolver
Commitments shall be at least 75% of the Commitments and (B) the UK Revolver Commitments shall in no event exceed $10,000,000, (iv) no more than one Reallocation may be requested in any Fiscal Quarter, (v) no Default or Event of
Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (vi) any increase in a Borrower Group Commitment shall
result in a dollar-for-dollar decrease in one or more of the other Borrower Group Commitments, and any decrease in a Borrower Group Commitment pursuant to this Section 2.1.7 shall result in a dollar-for-dollar increase in one or more of
the other Borrower Group Commitments, (vii) in no event shall the sum of all the Borrower Group Commitments exceed the aggregate amount of the Commitments then in effect, (viii) after giving effect to such Reallocation, no Overadvance
would exist or would result therefrom, and (ix) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Officer of the Borrower Agent shall have delivered to Agent a certificate in form and substance acceptable
to Agent certifying as to compliance with the foregoing conditions and demonstrating (in reasonable detail) the calculations required in connection therewith, which certificate shall be deemed recertified to Agent by a Senior Officer of the Borrower
Agent on and as of the Reallocation Date. 

(b)        Reallocations Generally. Agent shall promptly
inform the Lenders of the affected Borrower Groups of any request for a Reallocation. On the Reallocation Date, each Lender’s affected Borrower Group Commitments shall be increased or decreased on a pro rata basis based on the affected Borrower
Group Commitments of the Lenders. If the conditions set forth in Section 2.1.7(a) are not satisfied on the applicable Reallocation Date (or, to the extent such conditions relate to an earlier date, on such earlier date), Agent shall
notify the Borrower Agent in writing that the requested Reallocation will not be effectuated; provided that Agent shall in all cases be entitled to rely (without liability) on the certificate delivered by the Borrower Agent pursuant to
Section 2.1.7(a) in making its determination as to the satisfaction of the conditions set forth in Section 2.1.7(a). On each Reallocation Date, Agent shall notify the Lenders of the affected Borrower Groups and the Borrower
Agent, on or before 3:00 p.m. (Eastern time) by facsimile, e-mail or other electronic means, of the occurrence of the Reallocation to be effected on such Reallocation Date, the amount of the Loans held by each such Lender as a result thereof and the
amount of the affected Borrower Group Commitments of each such Lender as a result thereof. To the extent necessary where a Lender in one Borrower Group and its separate Affiliate or branch that is a Lender in another Borrower Group are participating
in a Reallocation, the Reallocation among such Persons shall be deemed to have been consummated pursuant to an Assignment. The respective Pro Rata shares of the Lenders shall thereafter be determined based on such reallocated amounts (subject to any
subsequent changes thereto in accordance with this Agreement), and Agent and the affected Lenders shall make such adjustments as Agent shall deem necessary so that the outstanding Loans and LC Obligations of each Lender equals its Pro Rata share
thereof after giving effect to the Reallocation. 
 2.1.8      Increase in U.S. Revolver
Commitments. U.S. Borrowers may request an increase in U.S. Revolver Commitments from time to time upon notice to Agent, as long as (a) the requested increase is in a minimum amount of $10,000,000 and is offered on the same terms as
existing 

  
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 U.S. Revolver Commitments, except for a closing fee specified by U.S. Borrowers,
(b) increases under this Section 2.1.8 do not exceed $25,000,000 in the aggregate and no more than five (5) increases are made, (c) no reduction in Commitments pursuant to Section 2.1.4 has occurred prior to
the requested increase, (d) the requested increase does not cause the Commitments to exceed 90% of any applicable cap under any Subordinated Debt agreement, (e) the requested increase does not cause the Commitments to exceed 90% of any
applicable cap contained in the Term Loan Documents (excluding the effect of any provision permitting Revolver Loans or Letters of Credit in amounts exceeding any expressed dollar cap in reliance upon the Borrowing Base), and (f) the Obligors
deliver such resolutions, acknowledgements, and reaffirmations as are requested by the Agent in connection with such increase. Agent shall promptly notify U.S. Lenders of the requested increase and, within ten (10) Business Days
thereafter, each U.S. Lender shall notify Agent if and to what extent such U.S. Lender commits to increase its U.S. Revolver Commitment. Any U.S. Lender not responding within such period shall be deemed to have declined an increase. If U.S.
Lenders fail to commit to the full requested increase, other Lenders or Eligible Assignees may issue additional U.S. Revolver Commitments and become U.S. Lenders hereunder. Agent may allocate, in its discretion, the increased U.S. Revolver
Commitments among committing U.S. Lenders and, if necessary, other Lenders and Eligible Assignees. Provided the conditions set forth in Section 6.2 are satisfied, total U.S. Revolver Commitments shall be increased by the requested amount
(or such lesser amount committed by U.S. Lenders, other Lenders and Eligible Assignees) on a date agreed upon by Agent and Borrower Agent, but no later than 45 days following U.S. Borrowers’ increase request. Agent, Obligors, and new and
existing Lenders shall execute and deliver such documents and agreements as Agent deems appropriate to evidence the increase in and allocations of U.S. Revolver Commitments. On the effective date of an increase, the U.S. Revolver Usage and other
exposures under the U.S. Revolver Commitments shall be reallocated among U.S. Lenders, and settled by Agent if necessary, in accordance with U.S. Lenders’ adjusted shares of such Commitments. 

2.2        Canadian Letter of Credit Facility. 

2.2.1            Issuance of Canadian Letters of Credit.
Canadian Issuing Bank shall issue Canadian Letters of Credit in Canadian Dollars or, at the option of Canadian Borrower, Dollars, or any other currency acceptable to Agent and Canadian Issuing Bank, from time to time until 30 days prior to the
Revolver Termination Date (or until the Canadian Commitment Termination Date, if earlier), on the terms set forth herein, including the following: 

(a)        Canadian Borrower acknowledges that Canadian Issuing
Bank’s issuance of any Canadian Letter of Credit is conditioned upon Canadian Issuing Bank’s receipt of a Canadian LC Application with respect to the requested Canadian Letter of Credit, as well as such other instruments and agreements as
Canadian Issuing Bank may customarily require for issuance of a letter of credit of similar type and amount. Canadian Issuing Bank shall have no obligation to issue any Canadian Letter of Credit unless (i) Canadian Issuing Bank receives a
Canadian LC Request and Canadian LC Application at least three Business Days prior to the requested date of issuance; (ii) each Canadian LC Condition is satisfied; and (iii) if a Defaulting Lender exists that is a Canadian Lender, such
Canadian Lender or Canadian Borrower has entered into arrangements satisfactory to Agent and Canadian Issuing Bank to eliminate any Fronting Exposure associated with such Canadian Lender. If, in sufficient time to act, Canadian Issuing Bank receives
written notice from Agent or Required Lenders that a Canadian LC Condition has not been satisfied, Canadian Issuing Bank shall not issue the requested Canadian Letter of Credit. Prior to receipt of any such notice, Canadian Issuing Bank shall not be
deemed to have knowledge of any failure of Canadian LC Conditions. 

  
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 (b)        Canadian
Letters of Credit may be requested by Canadian Borrower to support obligations incurred in the Ordinary Course of Business, or as otherwise approved by Agent. Increase, renewal or extension of a Canadian Letter of Credit shall be treated as issuance
of a new Canadian Letter of Credit, except that Canadian Issuing Bank may require a new Canadian LC Application in its discretion. 

(c)        Canadian Borrower assumes all risks of the acts, omissions
or misuses of any Canadian Letter of Credit by the beneficiary. In connection with issuance of any Canadian Letter of Credit, none of Agent, Canadian Issuing Bank or any Canadian 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 Canadian Letter of Credit or Document; 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 Canadian 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 Canadian Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of Canadian Issuing Bank, Agent or any Canadian Lender, including any act or omission of a
Governmental Authority. The rights and remedies of Canadian Issuing Bank under the Loan Documents shall be cumulative. Canadian Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary whose claims against Canadian
Borrower are discharged with proceeds of any Canadian Letter of Credit. 

(d)        In connection with its administration of and enforcement
of rights or remedies under any Canadian Letters of Credit or Canadian LC Documents, Canadian Issuing Bank shall be entitled to act, and shall be fully protected in acting, upon any certification, documentation or communication in whatever form
believed by Canadian Issuing Bank, in good faith, to be genuine and correct and to have been signed, sent or made by a proper Person. Canadian 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. Canadian Issuing Bank may employ agents and
attorneys-in-fact in connection with any matter relating to Canadian Letters of Credit or Canadian LC Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care. 

2.2.2             Canadian Letter of Credit Reimbursement;
Canadian Participations. 
 (a)        If Canadian Issuing Bank
honors any request for payment under a Canadian Letter of Credit, Canadian Borrower shall pay to Canadian Issuing Bank, on the same day (“Canadian Reimbursement Date”), the amount paid by Canadian Issuing Bank under such Canadian
Letter of Credit, together with interest at the interest rate for Canadian Prime Rate Loans (if the Canadian Letter of Credit was denominated in Canadian Dollars) and Canadian Base Rate Loans (if the Canadian Letter of Credit was denominated in
Dollars) from the Canadian Reimbursement Date until payment by Canadian Borrower. The obligation of Canadian Borrower to reimburse Canadian Issuing Bank for any payment made under a Canadian 

  
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 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 Canadian Letter of Credit or the existence of any claim, setoff, defense or other right that Canadian Borrower may have at any time against the
beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Canadian Borrower shall be deemed to have requested a Borrowing of Canadian Prime Rate Loans or Canadian Base Rate Loans, as applicable, in an amount necessary to pay all
amounts due Canadian Issuing Bank in the currency in which the underlying Canadian Letter of Credit was issued on any Canadian Reimbursement Date and each Canadian Lender shall fund its Pro Rata share of such Borrowing whether or not the Canadian
Revolver Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. 

(b)        Each Canadian Lender hereby irrevocably and
unconditionally purchases from Canadian Issuing Bank, without recourse or warranty, an undivided Pro Rata participation in all Canadian LC Obligations outstanding from time to time. Canadian Issuing Bank is issuing Canadian Letters of Credit in
reliance upon this participation. If Canadian Borrower does not make a payment to Canadian Issuing Bank when due hereunder, Agent shall promptly notify Canadian Lenders and each Canadian Lender shall within one Business Day after such notice pay to
Agent, for the benefit of Canadian Issuing Bank, such Canadian Lender’s Pro Rata share of such payment. Upon request by a Canadian Lender, Canadian Issuing Bank shall provide copies of Canadian Letters of Credit and Canadian LC Documents in its
possession at such time. 
 (c)        The obligation of each
Canadian Lender to make payments to Agent for the account of Canadian Issuing Bank in connection with Canadian Issuing Bank’s payment under a Canadian 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 Canadian Letter of Credit having been determined to be forged, fraudulent, noncompliant, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; any waiver by Canadian
Issuing Bank of a requirement that exists for its protection (and not Canadian Borrower’s protection) or that does not materially prejudice Canadian Borrower; any honor of an electronic demand for payment even if a draft is required; any
payment of an item presented after a Canadian Letter of Credit’s expiration date if authorized by applicable customs or practices; or any setoff or defense that a Canadian Facility Obligor may have with respect to any Canadian Facility
Obligations. Canadian Issuing Bank does not assume any responsibility for any failure or delay in performance or any breach by Canadian Borrower or other Person of any obligations under any Canadian LC Documents. Canadian Issuing Bank does not make
to Canadian Lenders any express or implied warranty, representation or guaranty with respect to any Canadian Letter of Credit, Canadian Facility Collateral, Canadian LC Document or Canadian Facility Obligor. Canadian Issuing Bank shall not be
responsible to any Canadian Lender for any recitals, statements, information, representations or warranties contained in, or for the execution, validity, genuineness, effectiveness or enforceability of any Canadian LC Documents; the validity,
genuineness, enforceability, collectability, value or sufficiency of any Canadian Facility Collateral or the perfection of any Lien therein; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal
status of any Canadian Facility Obligor. 
 (d)        No Canadian
Issuing Bank Indemnitee shall be liable to any Canadian Lender or other Person for any action taken or omitted to be taken in connection with any 

  
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Canadian Letter of Credit or Canadian LC Document except as a result of its gross negligence or willful misconduct. Canadian Issuing Bank may refrain from taking any action with respect to a
Canadian Letter of Credit until it receives written instructions (and in its discretion, appropriate assurances) from the Canadian Lenders. 

2.2.3      Canadian Letter of Credit Cash Collateral. Subject to
Section 2.1.5, if at any time (a) an Event of Default exists, (b) the Canadian Commitment Termination Date has occurred, or (c) the Revolver Termination Date is scheduled to occur within 20 Business Days, then Canadian
Borrower shall, at Canadian Issuing Bank’s or Agent’s request, Cash Collateralize all outstanding Canadian Letters of Credit. Canadian Borrower shall, at Canadian Issuing Bank’s or Agent’s request at any time, Cash Collateralize
the Fronting Exposure of any Defaulting Lender that is a Canadian Lender. If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the Canadian LC Obligations exceeds the Canadian Letter of Credit Subline, the excess amount
shall be payable by the Canadian Borrower within three (3) Business Days following demand by Agent or the Canadian Issuing Bank. If Canadian Borrower fails to provide any Cash Collateral as required hereunder, Canadian Lenders may (and shall
upon direction of Agent) advance, as Canadian Revolver Loans, the amount of Cash Collateral required (whether or not the Canadian Revolver Commitments have terminated, a Overadvance exists or the conditions in Section 6 are satisfied).

 2.3        UK Letter of Credit Facility. 

2.3.1            Issuance of UK Letters of Credit. UK
Issuing Bank shall issue UK Letters of Credit in Sterling or, at the option of the UK Borrower, Dollars or Euros, or any other currency acceptable to Agent and UK Issuing Bank, from time to time until 30 days prior to the Revolver Termination Date
(or until the UK Commitment Termination Date, if earlier), on the terms set forth herein, including the following: 

(a)        UK Borrower acknowledges that UK Issuing Bank’s
issuance of any UK Letter of Credit is conditioned upon UK Issuing Bank’s receipt of a UK LC Application with respect to the requested UK Letter of Credit, as well as such other instruments and agreements as UK Issuing Bank may customarily
require for issuance of a letter of credit of similar type and amount. UK Issuing Bank shall have no obligation to issue any UK Letter of Credit unless (i) UK Issuing Bank receives a UK LC Request and UK LC Application at least three Business
Days prior to the requested date of issuance; (ii) each UK LC Condition is satisfied; and (iii) if a Defaulting Lender exists that is a UK Lender, such UK Lender or UK Borrower has entered into arrangements satisfactory to Agent and UK
Issuing Bank to eliminate any Fronting Exposure associated with such UK Lender. If, in sufficient time to act, UK Issuing Bank receives written notice from Agent or Required Lenders that a UK LC Condition has not been satisfied, UK Issuing Bank
shall not issue the requested UK Letter of Credit. Prior to receipt of any such notice, UK Issuing Bank shall not be deemed to have knowledge of any failure of UK LC Conditions. 

(b)        UK Letters of Credit may be requested by UK Borrower to
support obligations incurred in the Ordinary Course of Business, or as otherwise approved by Agent. Increase, renewal or extension of a UK Letter of Credit shall be treated as issuance of a new UK Letter of Credit, except that UK Issuing Bank may
require a new UK LC Application in its discretion. 
 (c)        UK
Borrower assumes all risks of the acts, omissions or misuses of any UK Letter of Credit by the beneficiary. In connection with issuance of any UK Letter of Credit, none of Agent, UK Issuing Bank or any UK Lender shall be responsible for the
existence, 

  
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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 UK Letter of Credit or Document; 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 UK 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 UK Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of UK Issuing Bank, Agent or any
UK Lender, including any act or omission of a Governmental Authority. The rights and remedies of UK Issuing Bank under the Loan Documents shall be cumulative. UK Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary
whose claims against UK Borrower are discharged with proceeds of any UK Letter of Credit. 

(d)        In connection with its administration of and enforcement
of rights or remedies under any UK Letters of Credit or UK LC Documents, UK Issuing Bank shall be entitled to act, and shall be fully protected in acting, upon any certification, documentation or communication in whatever form believed by UK Issuing
Bank, in good faith, to be genuine and correct and to have been signed, sent or made by a proper Person. UK 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. UK Issuing Bank may employ agents and attorneys-in-fact in connection with any matter
relating to UK Letters of Credit or UK LC Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care. 

2.3.2            UK Letter of Credit Reimbursement; UK
Participations. 
 (a)        If UK Issuing Bank honors any
request for payment under a UK Letter of Credit, UK Borrower shall pay to UK Issuing Bank, on the same day (“UK Reimbursement Date”), the amount paid by UK Issuing Bank under such UK Letter of Credit, together with interest
at the interest rate for UK Base Rate Loans from the UK Reimbursement Date until payment by UK Borrower. The obligation of UK Borrower to reimburse UK Issuing Bank for any payment made under a UK 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 UK Letter of Credit or the existence of any claim, setoff, defense or other right that UK Borrower may have at any time against the
beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, UK Borrower shall be deemed to have requested a Borrowing of UK Base Rate Loans in an amount necessary to pay all amounts due UK Issuing Bank in the currency in which the
underlying UK Letter of Credit was issued on any UK Reimbursement Date and each UK Lender shall fund its Pro Rata share of such Borrowing whether or not the UK Revolver Commitments have terminated, a Overadvance exists or is created thereby, or the
conditions in Section 6 are satisfied. 

(b)        Each UK Lender hereby irrevocably and unconditionally
purchases from UK Issuing Bank, without recourse or warranty, an undivided Pro Rata participation in all UK LC 

  
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Obligations outstanding from time to time. UK Issuing Bank is issuing UK Letters of Credit in reliance upon this participation. If UK Borrower does not make a payment to UK Issuing Bank when due
hereunder, Agent shall promptly notify UK Lenders and each UK Lender shall within one Business Day after such notice pay to Agent, for the benefit of UK Issuing Bank, such UK Lender’s Pro Rata share of such payment. Upon request by a UK Lender,
UK Issuing Bank shall provide copies of UK Letters of Credit and UK LC Documents in its possession at such time. 

(c)        The obligation of each UK Lender to make payments to Agent
for the account of UK Issuing Bank in connection with UK Issuing Bank’s payment under a UK 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 UK Letter of Credit having been
determined to be forged, fraudulent, noncompliant, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; any waiver by UK Issuing Bank of a requirement that exists for its protection (and not UK
Borrower’s protection) or that does not materially prejudice UK Borrower; any honor of an electronic demand for payment even if a draft is required; any payment of an item presented after a UK Letter of Credit’s expiration date if
authorized by applicable customs or practices; or any setoff or defense that a UK Facility Obligor may have with respect to any UK Facility Obligations. UK Issuing Bank does not assume any responsibility for any failure or delay in performance or
any breach by UK Borrower or other Person of any obligations under any UK LC Documents. UK Issuing Bank does not make to UK Lenders any express or implied warranty, representation or guaranty with respect to any UK Letter of Credit, UK Facility
Collateral, UK LC Document or UK Facility Obligor. UK Issuing Bank shall not be responsible to any UK Lender for any recitals, statements, information, representations or warranties contained in, or for the execution, validity, genuineness,
effectiveness or enforceability of any UK LC Documents; the validity, genuineness, enforceability, collectability, value or sufficiency of any UK Facility Collateral or the perfection of any Lien therein; or the assets, liabilities, financial
condition, results of operations, business, creditworthiness or legal status of any UK Facility Obligor. 

(d)        No UK Issuing Bank Indemnitee shall be liable to any UK
Lender or other Person for any action taken or omitted to be taken in connection with any UK Letter of Credit or UK LC Document except as a result of its gross negligence or willful misconduct. UK Issuing Bank may refrain from taking any action with
respect to a UK Letter of Credit until it receives written instructions (and in its discretion, appropriate assurances) from the UK Lenders. 

2.3.3      UK Letter of Credit Cash Collateral. Subject to Section 2.1.5, if
at any time (a) an Event of Default exists, (b) the UK Commitment Termination Date has occurred, or (c) the Revolver Termination Date is scheduled to occur within 20 Business Days, then UK Borrower shall, at UK Issuing Bank’s or
Agent’s request, Cash Collateralize all outstanding UK Letters of Credit. UK Borrower shall, at UK Issuing Bank’s or Agent’s request at any time, Cash Collateralize the Fronting Exposure of any Defaulting Lender that is a UK Lender.
If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the UK LC Obligations exceeds the UK Letter of Credit Subline, the excess amount shall be payable by the UK Borrower within three (3) Business Days following
demand by Agent or the UK Issuing Bank. If UK Borrower fails to provide any Cash Collateral as required hereunder, UK Lenders may (and shall upon direction of Agent) advance, as UK Revolver Loans, the amount of Cash Collateral required (whether or
not the UK Revolver Commitments have terminated, a Overadvance exists or the conditions in Section 6 are satisfied). 

  
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 2.4        U.S. Letter of Credit
Facility. 
 2.4.1            Issuance of U.S.
Letters of Credit. U.S. Issuing Bank shall issue U.S. Letters of Credit (which, together with the Existing Letters of Credit, constitute U.S. Letters of Credit) in Dollars, or any other currency acceptable to Agent and U.S. Issuing Bank, from
time to time until 30 days prior to the Revolver Termination Date (or until the U.S. Commitment Termination Date, if earlier), on the terms set forth herein, including the following: 

(a)        Each U.S. Borrower acknowledges that U.S. Issuing
Bank’s issuance of any U.S. Letter of Credit is conditioned upon U.S. Issuing Bank’s receipt of a U.S. LC Application with respect to the requested U.S. Letter of Credit, as well as such other instruments and agreements as U.S. Issuing
Bank may customarily require for issuance of a letter of credit of similar type and amount. U.S. Issuing Bank shall have no obligation to issue any U.S. Letter of Credit unless (i) U.S. Issuing Bank receives a U.S. LC Request and U.S. LC
Application at least three Business Days prior to the requested date of issuance; (ii) each U.S. LC Condition is satisfied; and (iii) if a Defaulting Lender exists that is a U.S. Lender, such U.S. Lender or U.S. Borrowers have entered into
arrangements satisfactory to Agent and U.S. Issuing Bank to eliminate any Fronting Exposure associated with such U.S. Lender. If, in sufficient time to act, U.S. Issuing Bank receives written notice from Agent or Required Lenders that a U.S. LC
Condition has not been satisfied, U.S. Issuing Bank shall not issue the requested U.S. Letter of Credit. Prior to receipt of any such notice, U.S. Issuing Bank shall not be deemed to have knowledge of any failure of U.S. LC Conditions. 

(b)        U.S. Letters of Credit may be requested by a U.S. Borrower
to support obligations incurred in the Ordinary Course of Business, or as otherwise approved by Agent. Increase, renewal or extension of a U.S. Letter of Credit shall be treated as issuance of a new U.S. Letter of Credit, except that U.S. Issuing
Bank may require a new U.S. LC Application in its discretion. 

(c)        U.S. Borrowers assume all risks of the acts, omissions or
misuses of any U.S. Letter of Credit by the beneficiary. In connection with issuance of any U.S. Letter of Credit, none of Agent, U.S. Issuing Bank or any U.S. 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 U.S. Letter of Credit or Document; 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
U.S. 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 U.S. Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of U.S. Issuing Bank, Agent or any U.S. Lender, including any act or omission of a Governmental Authority. The rights and
remedies of U.S. Issuing Bank under the Loan Documents shall be cumulative. U.S. Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary whose claims against U.S. Borrowers are discharged with proceeds of any U.S.
Letter of Credit. 

  
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 (d)        In
connection with its administration of and enforcement of rights or remedies under any U.S. Letters of Credit or U.S. LC Documents, U.S. Issuing Bank shall be entitled to act, and shall be fully protected in acting, upon any certification,
documentation or communication in whatever form believed by U.S. Issuing Bank, in good faith, to be genuine and correct and to have been signed, sent or made by a proper Person. U.S. 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. U.S.
Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to U.S. Letters of Credit or U.S. LC Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with
reasonable care. 
 (e)        As of the Closing Date, each of the
Existing Letters of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a U.S. Letter of Credit issued and outstanding hereunder. 

2.4.2            U.S. Letter of Credit Reimbursement; U.S.
Participations. 
 (a)        If U.S. Issuing Bank honors any
request for payment under a U.S. Letter of Credit, U.S. Borrowers shall pay to U.S. Issuing Bank, on the same day (“U.S. Reimbursement Date”), the amount paid by U.S. Issuing Bank under such U.S. Letter of Credit, together with
interest at the interest rate for U.S. Base Rate Loans from the U.S. Reimbursement Date until payment by U.S. Borrowers. The obligation of U.S. Borrowers to reimburse U.S. Issuing Bank for any payment made under a U.S. 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 U.S. Letter of Credit or the existence of any claim, setoff, defense or other right that U.S. Borrowers
may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, U.S. Borrowers shall be deemed to have requested a Borrowing of U.S. Base Rate Loans in an amount necessary to pay all amounts due U.S.
Issuing Bank on any U.S. Reimbursement Date and each U.S. Lender shall fund its Pro Rata share of such Borrowing whether or not the U.S. Revolver Commitments have terminated, a U.S. Overadvance exists or is created thereby, or the conditions in
Section 6 are satisfied. 
 (b)        Each U.S. Lender
hereby irrevocably and unconditionally purchases from U.S. Issuing Bank, without recourse or warranty, an undivided Pro Rata participation in all U.S. LC Obligations outstanding from time to time. U.S. Issuing Bank is issuing U.S. Letters of Credit
in reliance upon this participation. If U.S. Borrowers do not make a payment to U.S. Issuing Bank when due hereunder, Agent shall promptly notify U.S. Lenders and each U.S. Lender shall within one Business Day after such notice pay to Agent, for the
benefit of U.S. Issuing Bank, such U.S. Lender’s Pro Rata share of such payment. Upon request by a U.S. Lender, U.S. Issuing Bank shall provide copies of U.S. Letters of Credit and U.S. LC Documents in its possession at such time. 

(c)        The obligation of each U.S. Lender to make payments to
Agent for the account of U.S. Issuing Bank in connection with U.S. Issuing Bank’s payment under a U.S. 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 U.S. Letter of Credit
having been determined to be forged, fraudulent, noncompliant, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; any waiver by U.S. 

  
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Issuing Bank of a requirement that exists for its protection (and not a U.S. Borrower’s protection) or that does not materially prejudice a U.S. Borrower; any honor of an electronic demand
for payment even if a draft is required; any payment of an item presented after a U.S. Letter of Credit’s expiration date if authorized by the UCC or applicable customs or practices; or any setoff or defense that a U.S. Facility Obligor may
have with respect to any U.S. Facility Obligations. U.S. Issuing Bank does not assume any responsibility for any failure or delay in performance or any breach by any U.S. Borrower or other Person of any obligations under any U.S. LC Documents. U.S.
Issuing Bank does not make to U.S. Lenders any express or implied warranty, representation or guaranty with respect to any U.S. Letter of Credit, U.S. Facility Collateral, U.S. LC Document or U.S. Facility Obligor. U.S. Issuing Bank shall not be
responsible to any U.S. Lender for any recitals, statements, information, representations or warranties contained in, or for the execution, validity, genuineness, effectiveness or enforceability of any U.S. LC Documents; the validity, genuineness,
enforceability, collectability, value or sufficiency of any U.S. Facility Collateral or the perfection of any Lien therein; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any
U.S. Facility Obligor. 
 (d)        No U.S. Issuing Bank
Indemnitee shall be liable to any U.S. Lender or other Person for any action taken or omitted to be taken in connection with any U.S. Letter of Credit or U.S. LC Document except as a result of its gross negligence or willful misconduct. U.S. Issuing
Bank may refrain from taking any action with respect to a U.S. Letter of Credit until it receives written instructions (and in its discretion, appropriate assurances) from the U.S. Lenders. 

2.4.3            U.S. Letter of Credit Cash Collateral.
Subject to Section 2.1.5, if at any time (a) an Event of Default exists, (b) the U.S. Commitment Termination Date has occurred, or (c) the Revolver Termination Date is scheduled to occur within 20 Business Days, then U.S.
Borrowers shall, at U.S. Issuing Bank’s or Agent’s request, Cash Collateralize all outstanding U.S. Letters of Credit. U.S. Borrowers shall, at U.S. Issuing Bank’s or Agent’s request at any time, Cash Collateralize the Fronting
Exposure of any Defaulting Lender that is a U.S. Lender. If U.S. Borrowers fail to provide any Cash Collateral as required hereunder, U.S. Lenders may (and shall upon direction of Agent) advance, as U.S. Revolver Loans, the amount of Cash Collateral
required (whether or not the U.S. Revolver Commitments have terminated, a U.S. Overadvance exists or the conditions in Section 6 are satisfied). 

2.5        Resignation of Issuing Banks. An Issuing Bank may resign at any time
upon notice to Agent and Borrower Agent. From the effective date of such resignation, such Issuing Bank shall have no obligation to issue, amend, renew, extend or otherwise modify any Letter of Credit, but shall continue to have all rights and other
obligations of an Issuing Bank hereunder relating to any Letter of Credit issued by it prior to such date. Agent shall promptly appoint a replacement Issuing Bank, which, as long as no Default exists, shall be reasonably acceptable to Borrower
Agent. 
 2.6        Effect of Amendment and Restatement. Upon the execution
and delivery of this Agreement, the “Obligations”, under and as defined in the Original Loan Agreement, obligations and other liabilities (including, without limitation, interest, fees and out-of-pocket expenses accrued to the date hereof)
governed by the Original Loan Agreement (collectively, the “Original Obligations”) shall continue to be in full force and effect, but shall be governed by the terms and conditions set forth in this Agreement and shall be deemed to
be U.S. Facility Obligations hereunder. The Original Obligations, together with any and all additional U.S. Facility Obligations incurred by U.S. Facility Obligors hereunder or under any of the other Loan Documents, shall continue to be secured by
all of the U.S. Security Documents provided in connection with the Original Loan Agreement (and, from and after the date hereof, shall be secured by all of the U.S. Security Documents provided in connection with this Agreement, whether on the
Closing Date or otherwise), all as more specifically set forth in this 

  
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Agreement and the U.S. Security Documents. Each U.S. Facility Obligor hereby reaffirms its obligations under each Loan Document (as defined in the Original Loan Agreement, collectively, the
“Original Loan Documents”) to which it is party, as amended, restated, supplemented or otherwise modified by this Agreement and by the other Loan Documents delivered on the Closing Date. Each Borrower agrees that each such Original
Loan Document shall remain in full force and effect following the execution and delivery of this Agreement and that all references to the “Loan Agreement” or “Credit Agreement” in such Original Loan Documents shall be deemed to
refer to this Agreement. The execution and delivery of this Agreement shall constitute an amendment, replacement and restatement, but not a novation or repayment, of the Original Obligations. 

SECTION 3 
 INTEREST,
FEES AND CHARGES 
 3.1        Interest. 

3.1.1            Rates and Payment of Interest. 

(a)        The Canadian Facility Obligations shall bear interest
(i) if a Canadian BA Rate Loan, at the Canadian BA Rate for the applicable Interest Period, plus the Applicable Margin pertaining to such Canadian BA Rate Loan; (ii) if a Canadian Prime Rate Loan, at the Canadian Prime Rate in effect from
time to time, plus the Applicable Margin pertaining to such Canadian Prime Rate Loan; (iii) if a Canadian Base Rate Loan, at the Canadian Base Rate in effect from time to time, plus the Applicable Margin pertaining to such Canadian Base Rate
Loan; (iv) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin pertaining to such LIBOR Loan; and (v) if any other Canadian Facility Obligation (including, to the extent permitted by law, interest not
paid when due), at the Canadian Prime Rate in effect from time to time, plus the Applicable Margin for Canadian Prime Rate Loans. The UK Facility Obligations shall bear interest (i) if a UK Base Rate Loan, at the UK Base Rate in effect from
time to time, plus the Applicable Margin pertaining to such UK Base Rate Loan; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin pertaining to such LIBOR Loan; and (iii) if any other UK Facility
Obligation (including, to the extent permitted by law, interest not paid when due), at the UK Base Rate in effect from time to time, plus the Applicable Margin for UK Base Rate Loans. The U.S. Facility Obligations shall bear interest (i) if a
U.S. Base Rate Loan, at the U.S. Base Rate in effect from time to time, plus the Applicable Margin pertaining to such U.S. Base Rate Loan; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin pertaining
to such LIBOR Loan; and (iii) if any other U.S. Facility Obligation (including, to the extent permitted by law, interest not paid when due), at the U.S. Base Rate in effect from time to time, plus the Applicable Margin for U.S. Base Rate Loans.

 (b)        During an Insolvency Proceeding with respect to any
Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Borrower acknowledges that the cost and
expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. 

(c)        Interest shall accrue from the date a Loan is advanced or
Obligation is incurred or payable, until paid in full by Borrowers. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month and (ii) on any date of prepayment, with

  
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respect to the principal amount of Loans being prepaid. In addition, interest accrued on the (i) Canadian Revolver Loans shall be due and payable on the Canadian Revolver Commitment
Termination Date, (ii) UK Revolver Loans shall be due and payable on the UK Revolver Commitment Termination Date and (iii) U.S. Revolver Loans shall be due and payable on the U.S. Revolver Commitment Termination Date. Interest accrued on
any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and
payable on demand. 
 (d)        Interest on the Loans shall
be payable in the currency of the underlying Revolver Loan. 

3.1.2            Application of LIBOR to Outstanding
Loans. 
 (a)        Borrowers may on any Business Day, subject
to delivery of a Notice of Conversion/Continuation and the other terms hereof, elect to convert any portion of any Base Rate Loan funded in Dollars to, or to continue any LIBOR Loan at the end of its Interest Period as, a LIBOR Loan. During any
Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan. 

(b)        Whenever Borrowers within a Borrower Group desire to
convert or continue Loans as LIBOR Loans, Borrower Agent shall give Agent a Notice of Conversion/Continuation, no later than 11:00 a.m. (Local Time) at least three Business Days before the requested conversion or continuation date. Promptly after
receiving any such notice, Agent shall notify each Applicable Lender thereof. Each Notice of Conversion/Continuation shall be irrevocable, and shall specify the amount of Loans to be converted or continued, the conversion or continuation date (which
shall be a Business Day), and the duration of the Interest Period (which shall be deemed to be 30 days if not specified). If, upon the expiration of any Interest Period for any LIBOR Loan, Borrower Agent shall have failed to deliver a Notice of
Conversion/Continuation with respect thereto as required above, the applicable Borrower Group shall be deemed to have elected to convert such Loans into Base Rate Loans. Agent does not warrant or accept responsibility for, nor shall it have any
liability with respect to, administration, submission or any other matter related to any rate described in the definition of LIBOR. 

3.1.3      Application of Canadian BA Rate to Outstanding Loans. 

(a)        Canadian Borrower may on any Business Day, subject to
delivery of a Notice of Conversion/Continuation and the other terms hereof, elect to convert any portion of any Canadian Prime Rate Loan to, or to continue any Canadian BA Rate Loan at the end of its Interest Period as, a Canadian BA Rate Loan.
During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a Canadian BA Rate Loan. 

(b)        Whenever Canadian Borrower desires to convert or continue
Loans as Canadian BA Rate Loans, Borrower Agent shall give Agent a Notice of Conversion/Continuation, no later than 11:00 a.m. (Local Time) at least three Business Days before the requested conversion or continuation date. Promptly after receiving
any such notice, Agent shall notify each Canadian Lender thereof. Each Notice of Conversion/Continuation shall be irrevocable, and shall specify the amount of Loans to be converted or continued, the conversion or continuation date (which shall be a
Business Day), and the duration of the Interest 

  
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Period (which shall be deemed to be 30 days if not specified). If, upon the expiration of any Interest Period for any Canadian BA Rate Loans, Borrower Agent shall have failed to deliver a Notice
of Conversion/Continuation with respect thereto as required above, Canadian Borrower shall be deemed to have elected to convert such Loans into Canadian Prime Rate Loans. 

3.1.4            Interest Periods. In connection with the
making, conversion or continuation of any Interest Period Loans, the Borrower Agent, on behalf of the applicable Borrower Group, shall select an interest period (“Interest Period”) to apply, which Interest Period shall be 30, 60, or
90 days (if available from all Applicable Lenders); provided, however, that: 

(a)        the Interest Period shall begin on the date the Loan is
made or continued as, or converted into, an Interest Period Loan, and shall expire on the numerically corresponding day in the calendar month at its end; 

(b)        if any Interest Period begins on a day for which there is
no corresponding day in the calendar month at its end or if such corresponding day falls after the last Business Day of such month, then the Interest Period shall expire on the last Business Day of such month, and if any Interest Period would
otherwise expire on a day that is not a Business Day, the period shall expire on the next Business Day; and 

(c)        no Interest Period shall extend beyond the Revolver
Termination Date (or, in the case of any Loan owing by (i) Canadian Borrower, the Canadian Revolver Commitment Termination Date, (ii) UK Borrower, the UK Revolver Commitment Termination Date or (iii) any U.S. Borrower, the U.S.
Revolver Commitment Termination Date, in each case if earlier). 

3.1.5            Interest Rate Not Ascertainable. If, due
to any circumstance affecting the interbank market, Agent determines that adequate and fair means do not exist for ascertaining LIBOR or the Canadian BA Rate on any applicable date or that any Interest Period is not available on the basis provided
herein, then Agent shall immediately notify Borrower Agent of such determination. Until Agent notifies Borrower Agent that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans or Canadian BA Rate Loans, as
applicable, shall be suspended and no further Loans may be converted into or continued as such LIBOR Loans or such Canadian BA Rate Loans, as applicable. 

3.2        Fees. 

3.2.1            Unused Line Fee. 

(a)        Canadian Unused Line Fee. Canadian Borrower shall
pay to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the Canadian Revolver Commitments exceed the average daily Canadian Revolver Usage during any month. Such fee shall be
payable in arrears, on the first day of each month and on the Canadian Commitment Termination Date. 

(b)        UK Unused Line Fee. UK Borrower shall pay to Agent,
for the Pro Rata benefit of UK Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the UK Revolver Commitments exceed the average daily UK Revolver Usage during any month. Such fee shall be payable in arrears, on the first day
of each month and on the UK Commitment Termination Date. 

  
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 (c)        U.S.
Unused Line Fee. U.S. Borrowers shall pay to Agent, for the Pro Rata benefit of U.S. Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the U.S. Revolver Commitments exceed the average daily U.S. Revolver Usage during any
month. Such fee shall be payable in arrears, on the first day of each month and on the U.S. Commitment Termination Date. 

3.2.2            LC Facility Fees. 

(a)        Canadian LC Facility Fees. Canadian Borrower shall
pay (i) to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Applicable Margin in effect for Canadian BA Rate Loans times the average daily Stated Amount of Canadian Letters of Credit, which fee shall be payable monthly in
arrears, on the first day of each month; (ii) to Agent, for its own account, a fronting fee equal to 0.125% per annum on the Stated Amount of each Canadian Letter of Credit, which fee shall be payable monthly in arrears, on the first day
of each month; and (iii) to Canadian Issuing Bank, for its own account, all reasonable and customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Canadian Letters of Credit,
which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum. 

(b)        UK LC Facility Fees. UK Borrower shall pay
(i) to Agent, for the Pro Rata benefit of UK Lenders, a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of UK Letters of Credit, which fee shall be payable monthly in arrears, on the
first day of each month; (ii) to Agent, for its own account, a fronting fee equal to 0.125% per annum on the Stated Amount of each UK Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and
(iii) to UK Issuing Bank, for its own account, all reasonable and customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of UK Letters of Credit, which charges shall be paid as
and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum. 

(c)        U.S. LC Facility Fees. U.S. Borrowers shall pay
(i) to Agent, for the Pro Rata benefit of U.S. Lenders, a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of U.S. Letters of Credit, which fee shall be payable monthly in arrears, on
the first day of each month; (ii) to Agent, for its own account, a fronting fee equal to 0.125% per annum on the Stated Amount of each U.S. Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month;
and (iii) to U.S. Issuing Bank, for its own account, all reasonable and customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of U.S. Letters of Credit, which charges shall be
paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum. 

3.2.3            Fee Letters. Borrowers shall pay all fees
set forth in any fee letter executed in connection with this Agreement or the Original Loan Agreement. 

3.3        Computation of Interest, Fees, Yield Protection. All
interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days, or, in the case of interest on Canadian Prime Rate Loans and Canadian BA Rate Loans, on the
basis of a 365 day year. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to
rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the 

  
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use, forbearance or detention of money, except to the extent such treatment is inconsistent with any Applicable Law. A certificate as to amounts payable by Borrowers under
Section 3.4, 3.6, 3.7, 3.9 or 5.8, submitted to Borrower Agent by Agent or the affected Lender shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such
amounts to the appropriate party within 10 days following receipt of the certificate. For the purpose of complying with the Interest Act (Canada), it is expressly stated that where interest is calculated pursuant hereto at a rate based upon a period
of time different from the actual number of days in the year (for the purposes of this Section, the “first rate”), the yearly rate or percentage of interest to which the first rate is equivalent is the first rate multiplied by the actual
number of days in the calendar year in which the same is to be ascertained and divided by the number of days in the shorter period, and the parties hereto acknowledge that there is a material distinction between the nominal and effective rates of
interest and that they are capable of making the calculations necessary to compare such rates and that the calculations herein are to be made using the nominal rate method and not on any basis that gives effect to the principle of deemed
reinvestment of interest. 5“Each Canadian Domiciled Obligor confirms that it understands and is able to calculate the rate of interest applicable to the Canadian Facility Obligations based on the methodology for calculating per annum rates
provided in this Agreement. Each Canadian Domiciled Obligor irrevocably agrees not to plead or assert, whether by way of defense or otherwise, in any proceeding relating to this Agreement or any other Loan Document, that the interest payable under
this Agreement and the calculation thereof has not been adequately disclosed to the Canadian Domiciled Obligors as required pursuant to Section 4 of the Interest Act (Canada). 

3.4        Reimbursement Obligations. Borrowers shall pay all
Extraordinary Expenses promptly upon request. Borrowers shall also reimburse Agent and Security Trustees, upon presentation of a summary statement, for all legal, accounting, appraisal, consulting, and other fees, costs and expenses incurred by it
in connection with (a) negotiation and preparation of any Loan Documents, including any amendment or other modification thereof; (b) administration of and actions relating to any Collateral, Loan Documents and transactions contemplated
thereby, including any actions taken to perfect or maintain priority of Agent’s or any Security Trustee’s Liens on any Collateral, to maintain any insurance required hereunder or to verify Collateral; and (c) subject to the limits of
Section 10.1.1(b), each inspection, audit or appraisal with respect to any Obligor or Collateral, whether prepared by Agent’s personnel or a third party. All legal, accounting and consulting fees shall be charged to Borrowers by
Agent’s or the applicable Security Trustee’s professionals at their full hourly rates, regardless of any alternative fee arrangements that Agent, any Security Trustee, any Lender or any of their Affiliates may have with such professionals
that otherwise might apply to this or any other transaction. Borrowers acknowledge that counsel may provide Agent or one or more of the Security Trustee’s with a benefit (such as a discount, credit or accommodation for other matters) based on
counsel’s overall relationship with Agent or such Security Trustee(s), including fees paid hereunder. If, for any reason (including inaccurate reporting in any Borrower Materials), it is determined that a higher Applicable Margin should have
applied to a period than was actually applied, then the proper margin shall be applied retroactively and Borrowers shall immediately pay to Agent, for the ratable benefit of Lenders, an amount equal to the difference between the amount of interest
and fees that would have accrued using the proper margin and the amount actually paid. All amounts payable by Borrowers under this Section shall be due on demand. 

3.5        Illegality. If any Lender determines that any Applicable Law
has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender to make, maintain or fund Interest Period Loans, or to determine or charge interest rates based upon the Canadian BA Rate or LIBOR, or any
Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, a currency in the London interbank market or to purchase, sell, issue or otherwise transact bankers’
acceptances in the Canadian interbank market, then, on notice 
  

 
 5 Added
per Third Amendment. 

  
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thereof by such Lender to Agent, any obligation of such Lender to make or continue affected Interest Period Loans or to convert Floating Rate Loans to affected Interest Period Loans shall be
suspended until such Lender notifies Agent that the circumstances giving rise to such determination no longer exist. Upon delivery of such notice, Borrower(s) of the affected Borrower Group shall prepay or, if applicable, convert all affected
Interest Period Loans of such Lender to Floating Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Interest Period Loans to such day, or immediately, if such Lender may not
lawfully continue to maintain such Interest Period Loans. Upon any such prepayment or conversion, Borrower(s) of the affected Borrower Group shall also pay accrued interest on the amount so prepaid or converted. 

3.6         Inability to Determine Rates. Agent will promptly notify
Borrower Agent and the Applicable Lenders if, in connection with any Loan or request for a Loan, (a) Agent determines that (i) deposits or bankers’ acceptances are not being offered to (A) with respect to LIBOR, banks in the
London interbank Eurodollar market or (B) with respect to the Canadian BA Rate, banks in the Canadian interbank market, in each case for the applicable Loan amount or Interest Period, or (ii) adequate and reasonable means do not exist for
determining LIBOR or the Canadian BA Rate for the Interest Period; or (b) Agent or Required Lenders determine for any reason that LIBOR or the Canadian BA Rate for the Interest Period does not adequately and fairly reflect the cost to the Applicable
Lenders of funding the Loan. Thereafter, the Applicable Lenders’ obligations to make or maintain affected Interest Period Loans and utilization of the LIBOR or the Canadian BA Rate component (if affected) in determining any other interest rate
applicable to any of the Obligations shall be suspended until Agent (upon instruction by Required Lenders) withdraws the notice. Upon receipt of such notice, Borrower Agent may revoke any pending request for a LIBOR Loan or Canadian BA Rate Loan or,
failing that, will be deemed to have requested a Base Rate Loan or a Canadian Prime Rate Loan, respectively. 

3.7        Increased Costs; Capital Adequacy. 

3.7.1            Increased Costs Generally. If any Change
in Law shall: 
 (a)        impose, modify or deem applicable any
reserve, liquidity, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in
calculating LIBOR or the Canadian BA Rate) or Issuing Bank; 

(b)        subject any Recipient to Taxes (other than
(i) Indemnified Taxes otherwise indemnifiable under Section 5.8 and (ii) Excluded Taxes) on its Loan, Letter of Credit, Commitment or other obligations, or its deposits, reserves, other liabilities or capital attributable
thereto; or 
 (c)        impose on any Lender, Issuing Bank or
interbank market any other condition, cost or expense affecting any Loan, Letter of Credit, participation in LC Obligations, Commitment or Loan Document; 

and the result thereof shall be to increase the cost to a Lender of making or maintaining any Loan or Commitment, or converting to or
continuing any interest option for a Loan, or to increase the cost to a Lender or an Issuing Bank of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit),
or to reduce the amount of any sum received or receivable by a Lender or an Issuing Bank hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or such Issuing Bank, the Borrower Group to which such Lender
or such Issuing Bank has a Commitment will pay to it such additional amount(s) as will compensate it for the additional costs incurred or reduction suffered. 

  
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3.7.2            Capital Requirements. If a Lender or
Issuing Bank determines that a Change in Law affecting such Lender or Issuing Bank or its holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s, Issuing
Bank’s or holding company’s capital as a consequence of this Agreement, or such Lender’s or Issuing Bank’s Commitments, Loans, Letters of Credit or participations in LC Obligations or Loans, to a level below that which such
Lender, Issuing Bank or holding company could have achieved but for such Change in Law (taking into consideration its policies with respect to capital adequacy), then from time to time Borrower Group to which such Lender or Issuing Bank has a
Commitment will pay to such Lender or Issuing Bank, as the case may be, such additional amounts as will compensate it or its holding company for the reduction suffered. 

3.7.3            Canadian BA Rate Loan and LIBOR Loan
Reserves. If any Lender is required to maintain reserves with respect to liabilities or assets consisting of or including Canadian Dollar or Eurocurrency funds or deposits, the Borrower Group to which such Lender has a Commitment shall pay
additional interest to such Lender on each Canadian BA Rate Loan and LIBOR Loan equal to the costs of such reserves allocated to the Loan by the Lender (as determined by it in good faith, which determination shall be conclusive). The additional
interest shall be due and payable on each interest payment date for the Loan; provided, however, that if the Lender notifies Borrower Agent (with a copy to Agent) of the additional interest less than 10 days prior to the interest payment date, then
such interest shall be payable 10 days after Borrower Agent’s receipt of the notice. 

3.7.4            Compensation. Failure or delay on the
part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of its right to demand such compensation, but Borrowers of a Borrower Group shall not be required to compensate a Lender to such
Borrower Group or an Issuing Bank for any increased costs or reductions suffered more than nine months (plus any period of retroactivity of the Change in Law giving rise to the demand) prior to the date that such Lender or such Issuing Bank notifies
Borrower Agent of the applicable Change in Law and of such Lender’s or such Issuing Bank’s intention to claim compensation therefor. 

3.8        Mitigation. If any Lender gives a notice under
Section 3.5 or requests compensation under Section 3.7, or if Borrowers are required to pay any Indemnified Taxes or additional amounts with respect to a Lender under Section 5.8, then at the request of Borrower Agent, such Lender
shall use reasonable efforts to designate a different Lending Office or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment
(a) would eliminate the need for such notice or reduce amounts payable or to be withheld in the future, as applicable; and (b) would not subject the Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to
it or unlawful. Borrowers shall pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

3.9        Funding Losses. If for any reason (a) any Borrowing,
conversion or continuation of an Interest Period Loan does not occur on the date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation (whether or not withdrawn), (b) any repayment or conversion of an Interest Period
Loan occurs on a day other than the end of its Interest Period, (c) any Borrower Group fail to repay an Interest Period Loan when required hereunder, or (d) a Lender (other than a Defaulting Lender) is required to assign an Interest Period
Loan prior to the end of its Interest Period pursuant to Section 13.4, then such Borrower Group shall pay to Agent its customary administrative charge and to each Lender all losses, expenses and fees arising from redeployment of funds or
termination of match funding. For purposes of calculating amounts payable under this Section, a Lender shall be deemed to have funded an Interest Period Loan by a matching deposit or other borrowing in the London interbank market or any

  
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other applicable market for a comparable amount and period, whether or not the Loan was in fact so funded. 

3.10        Maximum Interest. Notwithstanding anything to the contrary
contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (“maximum rate”). If Agent or any Lender shall
receive interest in an amount that exceeds the maximum rate, the excess interest shall be applied to the principal of the Obligations of the Borrower Group to which such excess interest relates or, if it exceeds such unpaid principal, refunded to
such Borrower Group. In determining whether the interest contracted for, charged or received by Agent or a Lender exceeds the maximum rate, such Person may, to the extent permitted by Applicable Law, (a) characterize any payment that is not
principal as an expense, fee or premium rather than interest; (b) exclude voluntary prepayments and the effects thereof; and (c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the
contemplated term of the Obligations hereunder. Without limiting the generality of the foregoing provisions of this Section 3.10, if any provision of any of the Loan Documents would obligate any Canadian Domiciled Obligor to make any
payment of interest with respect to the Canadian Facility Obligations in an amount or calculated at a rate which would be prohibited by Applicable Law or would result in the receipt of interest with respect to the Canadian Facility Obligations at a
criminal rate (as such terms are construed under the Criminal Code (Canada)), then notwithstanding such provision, such amount or rates shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the
case may be, as would not be so prohibited by law or so result in a receipt by the applicable recipient of interest with respect to the Canadian Facility Obligations at a criminal rate, such adjustment to be effected, to the extent necessary, as
follows: (i) first, by reducing the amount or rates of interest required to be paid by the Canadian Domiciled Obligors to the applicable recipient under the Loan Documents; and (ii) thereafter, by reducing any fees, commissions, premiums
and other amounts required to be paid by the Canadian Domiciled Obligors to the applicable recipient which would constitute interest with respect to the Canadian Facility Obligations for purposes of Section 347 of the Criminal Code (Canada).
Notwithstanding the foregoing, and after giving effect to all adjustments contemplated thereby, if the applicable recipient shall have received an amount in excess of the maximum permitted by that section of the Criminal Code (Canada), then Canadian
Domiciled Obligors shall be entitled, by notice in writing to Agent, to obtain reimbursement from the applicable recipient in an amount equal to such excess, and pending such reimbursement, such amount shall be deemed to be an amount payable by the
applicable recipient to the applicable Canadian Domiciled Obligor. Any amount or rate of interest with respect to the Canadian Facility Obligations referred to in this Section 3.10 shall be determined in accordance with generally
accepted actuarial practices and principles as an effective annual rate of interest over the term that any Canadian Revolver Loan to Canadian Borrower remains outstanding on the assumption that any charges, fees or expenses that fall within the
meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the period from the Closing Date to the date of Full
Payment of the Canadian Facility Obligations, and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by Agent shall be conclusive for the purposes of such determination. 

  
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 SECTION 4 

LOAN ADMINISTRATION 

4.1        Manner of Borrowing and Funding Revolver Loans. 

4.1.1            Notice of Borrowing. 

(a)        Revolver Loans.    Whenever a
Borrower Group desires funding of Revolver Loans, Borrower Agent shall give Agent a Notice of Borrowing. Such notice must be received by Agent by 11:00 a.m. (Local Time) (i) on the requested funding date, in the case of Floating Rate Loans, and
(ii) at least three Business Days prior to the requested funding date, in the case of Interest Period Loans. Notices received after such time shall be deemed received on the next Business Day. Each Notice of Borrowing shall be irrevocable and
shall specify (A) the amount of the Borrowing, (B) the requested funding date (which must be a Business Day), (C) whether the Borrowing is to be made as a U.S. Base Rate Loan or LIBOR Loan, in the case of the U.S. Borrowers, or a
Canadian Base Rate Loan, LIBOR Loan, Canadian Prime Rate Loan or Canadian BA Rate Loan, in the case of Canadian Borrower, or a LIBOR Loan or a UK Base Rate Loan, in the case of UK Borrower, (D) in the case of an Interest Period Loan, the
applicable Interest Period (which shall be deemed to be 30 days if not specified) and (E) the Borrower Group Commitment under which such Borrowing is proposed to be made and, if such Borrowing is requested for Canadian Borrower, whether such
Loan is to be denominated in Dollars or Canadian Dollars and, if such Borrowing is requested for UK Borrower, whether such Loan is to be denominated in Sterling, Dollars or Euros. Notwithstanding anything to the contrary contained herein, given that
U.S. Borrowers elected to utilize FILO Loans on the Original Closing Date, all U.S. Revolver Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement. 

(b)        Deemed Requests for Revolver Loans. Unless payment
is otherwise made by a Borrower Group, the becoming due of any Obligation of the Obligor Group to which such Borrower Group belongs (whether principal, interest, fees or other charges, including Extraordinary Expenses, LC Obligations, Cash
Collateral and Secured Bank Product Obligations) shall be deemed to be a request for Revolver Loans by such Borrower Group on the due date in the amount due and shall bear interest at the per annum rate applicable hereunder to Base Rate Loans, in
the case of such Obligations owing by any Obligor (other than a Canadian Domiciled Obligor), or to Canadian Prime Rate Loans, in the case of such Obligations owing by a Canadian Domiciled Obligor, and the Loan proceeds shall be disbursed as direct
payment of such Obligation. In addition, Agent may, at its option, charge any such amount owed by any Obligor Group against any operating, investment or other account of a Borrower that is a member of such Obligor Group maintained with Agent or any
of its Affiliates. 
 (c)        Controlled Disbursement
Accounts. If any Borrower within a Borrower Group maintains a disbursement account with Agent or any of its Affiliates or branches, then presentation for payment in the account of a Payment Item when there are insufficient funds to cover it
shall be deemed to be a request for Revolver Loans by such Borrower Group on the presentation date, in the amount of the Payment Item, and shall bear interest at the per annum rate applicable hereunder to Base Rate Loans, in the case of insufficient
funds owing by any Obligor (other than a Canadian Domiciled Obligor), or to Canadian Prime Rate Loans, in the case of insufficient funds owing by a Canadian Domiciled Obligor. Proceeds of such Loan may be disbursed directly to such account. 

  
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4.1.2            Fundings by Lenders. Except for Borrowings
to be made as Swingline Loans, Agent shall endeavor to notify the Applicable Lenders of each Notice of Borrowing (or deemed request for a Borrowing) by 1:00 p.m. on the proposed funding date for a Floating Rate Loan or by 3:00 p.m. at least two
Business Days before a proposed funding of an Interest Period Loan. Each Applicable Lender shall fund its Pro Rata share of a Borrowing in immediately available funds not later than 3:00 p.m. on the requested funding date, unless Agent’s notice
is received after the times provided above, in which case each Applicable Lender shall fund by 11:00 a.m. on the next Business Day. Subject to its receipt of such amounts from Applicable Lenders, Agent shall disburse the Borrowing proceeds as
directed by Borrower Agent. Unless Agent shall have received (in sufficient time to act) written notice from an Applicable Lender that it does not intend to fund its share of a Borrowing, Agent may assume that such Applicable Lender has deposited or
promptly will deposit its share with Agent, and Agent may disburse a corresponding amount to the Borrower or Borrowers within such Borrower Group. If an Applicable Lender’s share of a Borrowing or of a settlement under
Section 4.1.3(d) is not received by Agent, then the Borrower or Borrowers within such Borrower Group agree to repay to Agent on demand the amount of such share, together with interest thereon from the date disbursed until
repaid, at the rate applicable to the Borrowing. A Lender or Issuing Bank may fulfill its obligations under Loan Documents through one or more Lending Offices, and this shall not affect any obligation of Obligors under the Loan Documents or with
respect to any Obligations. 
 4.1.3            Swingline
Loans; Settlement. 
 (a)        Canadian Swingline
Loans. To fulfill any request for a Canadian Base Rate Loan or a Canadian Prime Rate Loan hereunder, Canadian Swingline Lender may in its discretion, advance Canadian Swingline Loans to Canadian Borrower, up to an aggregate outstanding amount of
$1,000,000. Canadian Swingline Loans shall constitute Canadian Revolver Loans for all purposes, except that payments thereon shall be made to Canadian Swingline Lender for its own account until the Canadian Lenders have funded their participations
therein as provided below. 
 (b)        UK Swingline Loans.
To fulfill any request for a UK Base Rate Loan, UK Swingline Lender may in its discretion, advance UK Swingline Loans to UK Borrower, up to an aggregate outstanding amount of $1,000,000. UK Swingline Loans shall constitute UK Revolver Loans for all
purposes, except that payments thereon shall be made to UK Swingline Lender for its own account until the UK Lenders have funded their participations therein as provided below. 

(c)        US Swingline Loans. To fulfill any request for a
U.S. Base Rate Loan, U.S. Swingline Lender may in its discretion, advance U.S. Swingline Loans to U.S. Borrowers, up to an aggregate outstanding amount equal to the difference of (i) $10,000,000 less (ii) the aggregate outstanding
amount of all Canadian Swingline Loans and UK Swingline Loans. U.S. Swingline Loans shall constitute U.S. Revolver Loans for all purposes, except that payments thereon shall be made to U.S. Swingline Lender for its own account until the U.S. Lenders
have funded their participations therein as provided below. 

(d)        Settlement of Loans. Settlement of Loans, including
Swingline Loans, among Lenders and Agent shall take place on a date determined from time to time by Agent (but at least weekly, unless the settlement amount is de minimis), on a Pro Rata basis in accordance with the Settlement Report delivered by
Agent to Lenders. Between settlement dates, Agent may in its discretion apply payments on Revolver Loans to Swingline Loans (such that payments on Canadian Revolver Loans are applied to Canadian Swingline Loans, payments on UK Revolver

  
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Loans are applied to UK Swingline Loans, and payments on U.S. Revolver Loans are applied to U.S. Swingline Loans) regardless of any designation by Borrower Agent or any provision herein to the
contrary. Each Canadian Lender, UK Lender and U.S. Lender hereby purchases, without recourse or warranty, an undivided Pro Rata participation in all Canadian Swingline Loans, UK Swingline Loans and U.S. Swingline Loans, respectively, outstanding
from time to time until settled. If a Swingline Loan cannot be settled among the Applicable Lenders, whether due to an Obligor’s Insolvency Proceeding or for any other reason, each Applicable Lender shall pay the amount of its participation in
the Loan to the applicable Swingline Lender, in immediately available funds, within one Business Day after Agent’s request therefor. Lenders’ obligations to make settlements and to fund participations are absolute, irrevocable and
unconditional, without offset, counterclaim or other defense, and whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are satisfied. When settling any Canadian Revolver Loans and any
Canadian Swingline Loans pursuant to this Section 4.1.3(d), Agent shall act through Bank of America (Canada). 

4.1.4            Notices. Borrower Agent may request,
convert or continue Loans, select interest rates and transfer funds based on telephonic instructions or e-mailed instructions to Agent, in each case to be confirmed in accordance with this Section 4.1.4. Borrower Agent shall confirm each
such request by prompt delivery to Agent of a Notice of Borrowing or Notice of Conversion/Continuation, if applicable, but if it differs materially from the action taken by Agent or Lenders, the records of Agent and Lenders shall govern. Neither
Agent nor any Lender shall have any liability for any loss suffered by a Borrower as a result of Agent or any Lender acting upon its understanding of telephonic or e-mailed instructions from a person believed in good faith by Agent or any Lender to
be a person authorized to give such instructions on Borrower Agent’s behalf. 

4.2        Defaulting Lender. Notwithstanding anything herein to the
contrary: 
 4.2.1            Reallocation of Pro Rata
Share; Amendments. For purposes of determining Lenders’ obligations or rights to fund, participate in or receive collections with respect to Loans and Letters of Credit (including existing Swingline Loans, Protective Advances and LC
Obligations), Agent may in its discretion reallocate Pro Rata shares by excluding a Defaulting Lender’s Commitments and Loans from the calculation of shares. A Defaulting Lender shall have no right to vote on any amendment, waiver or other
modification of a Loan Document, except as provided in Section 14.1.1(c). 

4.2.2            Payments; Fees. Agent may, in its
discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other
Secured Parties have been paid in full. Agent may use such amounts to cover the Defaulting Lender’s defaulted obligations, to Cash Collateralize such Lender’s Fronting Exposure, to readvance the amounts to Borrowers or to repay
Obligations. A Lender shall not be entitled to receive any fees accruing hereunder while it is a Defaulting Lender and its unfunded Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1. If
any LC Obligations owing to a Defaulting Lender are reallocated to other Lenders, fees attributable to such LC Obligations under Section 3.2.2 shall be paid to such Lenders. Agent shall be paid all fees attributable to LC Obligations
that are not reallocated. 
 4.2.3            Status;
Cure. Agent may determine in its discretion that a Lender constitutes a Defaulting Lender and the effective date of such status shall be conclusive and binding on all parties, absent manifest error. Borrowers, Agent and each Issuing Bank may
agree in writing that a Lender has ceased to be a Defaulting Lender, whereupon Pro Rata shares shall be reallocated without exclusion of the 

  
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 reinstated Lender’s Commitments and Loans, and the Revolver Usage and other exposures
under the Revolver Commitments shall be reallocated among Lenders and settled by Agent (with appropriate payments by the reinstated Lender, including payment of any breakage costs for reallocated Interest Period Loans) in accordance with the
readjusted Pro Rata shares. Unless expressly agreed by Borrowers, Agent and each Issuing Bank, no reinstatement of a Defaulting Lender shall constitute a waiver or release of claims against such Lender. The failure of any Lender to fund a Loan, to
make a payment in respect of LC Obligations or otherwise to perform obligations hereunder shall not relieve any other Lender of its obligations under any Loan Document. No Lender shall be responsible for default by another Lender. When settling
exposures under the Canadian Revolver Commitments pursuant to this Section 4.2.3, Agent shall act through Bank of America (Canada). 

4.3        Number and Amount of Interest Period Loans; Determination of
Rate. Each Borrowing of Interest Period Loans when made shall be in a minimum amount of $1,000,000 (or its Dollar Equivalent in any other currency or Cdn$1,000,000 as regards Canadian BA Rate Loans), plus an increment of $100,000 (or its
Dollar Equivalent in any other currency or Cdn$100,000 as regards Canadian BA Rate Loans) in excess thereof. No more than 5 Borrowings of Interest Period Loans may be outstanding at any time with respect to the Borrower Group consisting of U.S.
Borrowers, and no more than 2 Borrowings of Interest Period Loans may be outstanding at any time with respect to any other Borrower Group. All Interest Period Loans to a Borrower Group having the same length, beginning date of their Interest
Periods and currency shall be aggregated together and considered one Borrowing for this purpose. Upon determining Canadian BA Rate or LIBOR for any Interest Period requested by Borrowers within a Borrower Group, Agent shall promptly notify Borrower
Agent thereof by telephone or electronically and, if requested by Borrower Agent, shall confirm any telephonic notice in writing (including, without limitation, via a writing transmitted electronically). 

4.4        Borrower Agent. Each Obligor hereby designates Parent
Borrower (“Borrower Agent”) as its representative and agent for all purposes under the Loan Documents, including requests for and receipt of Loans and Letters of Credit, designation of interest rates, delivery or receipt of
communications, delivery of Borrower Materials, 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
Agent, any Security Trustee, any Issuing Bank or any Lender. Borrower Agent hereby accepts such appointment. Agent, Security Trustees, Issuing Banks and Lenders shall be entitled to rely upon, and shall be fully protected in relying upon, any notice
or communication (including any notice of borrowing) delivered by Borrower Agent on behalf of any Obligor. Agent, Security Trustees, Issuing Banks and Lenders may give any notice or communication with an Obligor to Borrower Agent on behalf of such
Obligor. Each of Agent, Security Trustees Issuing Banks and Lenders shall have the right, in its discretion, to deal exclusively with Borrower Agent for all purposes under the Loan Documents. Each Obligor agrees that any notice, election,
communication, delivery, representation, agreement, action, omission or undertaking on its behalf by Borrower Agent shall be binding upon and enforceable against it. 

4.5        One Obligation. Without in any way limiting any Guarantee of
any Obligor of the Obligations of any other Obligor, (a) the Canadian Revolver Loans, the Canadian LC Obligations and the other Canadian Facility Obligations owing by each Canadian Facility Obligor constitute one general obligation of the
Canadian Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or applicable Security Trustee’s Lien upon all Collateral of each Canadian Facility Obligor, provided that each
Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each Canadian Facility Obligor to the extent of any Canadian Facility Obligations jointly or severally owed by such Canadian Facility Obligor to such
Credit Party, (b) the UK Revolver Loans, the UK LC Obligations and the other UK Facility Obligations owing by each UK 

  
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 Facility Obligor constitute one general obligation of the UK Facility Obligors and (unless
otherwise expressly provided in any Loan Document) shall be secured by Agent’s and UK Security Trustee’s Lien upon all Collateral of each UK Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and
the holder of a separate claim against, each UK Facility Obligor to the extent of any UK Facility Obligations owed by such UK Facility Obligor to such Credit Party and (c) the U.S. Revolver Loans, the U.S. LC Obligations and the other U.S.
Facility Obligations owing by each U.S. Facility Obligor constitute one general obligation of the U.S. Facility Obligors and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s or the applicable Security
Trustee’s Lien upon all Collateral of each U.S. Facility Obligor, provided that each Credit Party shall be deemed to be a creditor of, and the holder of a separate claim against, each U.S. Facility Obligor to the extent of any U.S.
Facility Obligations jointly or severally owed by such U.S. Facility Obligor to such Credit Party. 

4.6        Effect of Termination. On the effective date of the
termination of all Commitments, all Obligations shall be immediately due and payable, and each Secured Bank Product Provider may terminate its Bank Products; provided that (a) on the effective date of the termination of all Canadian
Revolver Commitments, all Canadian Facility Obligations shall be immediately due and payable, and each Secured Bank Product Provider may terminate its Bank Products provided for the account of Canadian Domiciled Obligors and their Affiliates
domiciled in Canada, (b) on the effective date of the termination of all UK Revolver Commitments, all UK Facility Obligations shall be immediately due and payable, and each Secured Bank Product Provider may terminate its Bank Products provided
for the account of UK Domiciled Obligors and their Affiliates domiciled in the UK, and (c) on the effective date of the termination of all U.S. Revolver Commitments, all U.S. Facility Obligations shall be immediately due and payable, and each
Secured Bank Product Provider may terminate its Bank Products provided for the account of U.S. Domiciled Obligors and their Affiliates domiciled in the U.S. Until Full Payment of all Obligations, all undertakings of Borrowers contained in the Loan
Documents shall continue, and Agent and Security Trustees shall retain their Liens in the Collateral and all of their rights and remedies under the Loan Documents. Agent and Security Trustees shall not be required to terminate their Liens unless
Agent or a Security Trustee receives Cash Collateral or a written agreement, in each case satisfactory to Agent, protecting Agent and Lenders from dishonor or return of any Payment Item previously applied to the Obligations. Sections 2.2,
2.3, 2.4, 3.4, 3.6, 3.7, 3.9, 5.4, 5.8, 5.9, 12, 14.2, this Section, and each indemnity or waiver given by an Obligor or Lender in any Loan Document, shall survive Full
Payment of the Obligations. 
 4.7        Limitation on Borrowings.

 4.7.1    Notwithstanding anything to the contrary contained herein, each of the parties hereto
acknowledge and agree that maximum principal amount of U.S. Revolver Loans and/or U.S. LC Obligations which Parent Borrower shall be entitled to have outstanding at any time under this Agreement for its own account (and not for the account of any
other U.S. Borrower) shall not exceed $2,500,000 in the aggregate; it being understood and agreed by each of the parties hereto that any Borrowing and/or Letter of Credit requested by Parent Borrower in its capacity as Borrower Agent which exceed
the above noted limitation shall be Borrowings and/or Letters of Credit for the account of one or more of the other Borrowers and not for the account of Parent Borrower; provided that nothing set forth in this Section shall in any way affect or
limit the duties and obligations of each Borrower with respect to the Obligations set forth in Section 5.10. 

4.7.2    Agent and Lenders shall have the right, at any time in their Permitted Discretion, to condition
Loans and Letters of Credit upon a separate calculation of borrowing availability for each Borrower and to restrict the disbursement and use of Loans and Letters of Credit to a Borrower based on that calculation. 

  
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 SECTION 5 

PAYMENTS 

5.1        General Payment Provisions.    All
payments of Obligations shall be made without offset, counterclaim or defense of any kind, free and clear of (and without deduction for) any Taxes, and in immediately available funds, not later than 12:00 (Local Time) on the due date. Any payment
after such time shall be deemed made on the next Business Day. Any payment of an Interest Period Loan prior to the end of its Interest Period shall be accompanied by all amounts due under Section 3.9. Borrowers agree that Agent shall
have the continuing, exclusive right to apply and reapply payments and proceeds of Collateral against the Obligations, in such manner as Agent deems advisable (so long as such application or reapplication could not reasonably be expected to result
in material adverse tax consequences to an Obligor or a Subsidiary of an Obligor under Section 956 of the Code), but whenever possible, any prepayment of Loans shall be applied first to Floating Rate Loans and then to Interest Period Loans. All
payments with respect to any Obligation shall be made in the currency of the underlying Obligation. Any payment made contrary to the requirements of the preceding sentence shall be subject to the terms of Section 5.11. If any payment
under the Loan Documents shall be stated to be due on a day other than a Business Day, the due date shall be extended to the next Business Day and such extension of time shall be included in any computation of interest and fees. 

5.2        Repayment of Revolver Loans. Canadian Facility Obligations
shall be due and payable in full on the Canadian Commitment Termination Date, UK Facility Obligations shall be due and payable in full on the UK Commitment Termination Date and U.S. Facility Obligations shall be due and payable in full on the U.S.
Commitment Termination Date, in each case unless payment is sooner required hereunder. Revolver Loans may be prepaid from time to time, without penalty or premium. Subject to Section 2.1.5, if an Overadvance exists at any time
(including, without limitation, with respect to the U.S. Revolver Loans as the result of a scheduled reduction in the FILO Amount), the Borrower Group owing such Overadvance shall, on the sooner of Agent’s demand or the first Business Day after
any Borrower of such Borrower Group has knowledge thereof, repay Revolver Loans in an amount sufficient to reduce Revolver Usage of such Borrower Group to the Borrowing Base of such Borrower Group. If any Asset Disposition includes the disposition
of Inventory, Accounts or Revolver Priority Collateral, the Obligor Group that includes the Obligor(s) that made such Asset Disposition shall apply the Net Proceeds of such Asset Disposition to repay the Revolver Loans of the Borrower Group(s)
included within such Obligor Group (if more than one Borrower Group is included in such Obligor Group, such Net Proceeds shall be applied ratably to repay the Revolver Loans of such Borrower Groups, but in no event shall Net Proceeds of Asset
Dispositions made by Foreign Obligors be applied to the Obligations of the U.S. Borrowers if such application could reasonably be expected to result in material adverse tax consequences to an Obligor or a Subsidiary of an Obligor under
Section 956 of the Code) equal to the greater of (a) the net book value of such Inventory, Accounts and Revolver Priority Collateral, or (b) the reduction in Borrowing Base of such Borrower Group(s) resulting from the disposition (if
there is no such reduction, the amount described in this clause (b) shall be deemed to be zero). 

5.3        Payment of Other Obligations. Obligations other than Loans,
including LC Obligations and Extraordinary Expenses, shall be paid by Borrowers as provided in the Loan Documents or, if no payment date is specified, on demand. 

5.4        Marshaling; Payments Set Aside. None of Agent, Security
Trustees, Issuing Banks or Lenders shall be under any obligation to marshal any assets in favor of any Obligor or against any Obligations. If any payment by or on behalf of any Borrower or Borrowers is made to Agent, any Security Trustee, any
Issuing Bank or any Lender, or if Agent, any applicable Security Trustee, any 

  
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Issuing Bank or any Lender exercises a right of setoff, and any of such payment or setoff is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including
pursuant to any settlement entered into by Agent, a Security Trustee, an Issuing Bank or a Lender in its discretion) to be repaid to a Creditor Representative or any other Person, then the Obligation originally intended to be satisfied, and all
Liens, rights and remedies relating thereto, shall be revived and continued in full force and effect as if such payment or setoff had not occurred. 

5.5        Application and Allocation of Payments. 

5.5.1            Application. Payments made by a Borrower
Group (or any member thereof) hereunder shall be applied (a) first, as specifically required hereby; (b) second, to Obligations of such Borrower Group then due and owing; (b) third, to other Obligations specified by Borrower Agent;
and (c) fourth, as determined by Agent in its Permitted Discretion. Any payment of the U.S. Revolver Loans shall be applied first to the U.S. Revolver Loans that are not FILO Loans until repaid in full, and then to FILO Loans. 

5.5.2            Post-Default Allocation. Notwithstanding
anything in any Loan Document to the contrary, but subject to the Intercreditor Agreement, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or
otherwise, shall be allocated as follows: 
 (a)         with respect to
monies, payments, Property or Collateral of or from the Canadian Domiciled Obligors, together with any allocations pursuant to subclause (x) of any other clause of this Section 5.5.2: 

(i)          first, to all fees, indemnification, costs and
expenses, including Extraordinary Expenses, owing to Agent or any Security Trustee, to the extent owing by any of the Canadian Domiciled Obligors; 

(ii)         second, to all amounts owing to Canadian Swingline Lender or
Agent on Canadian Swingline Loans, Canadian Protective Advances, and Canadian Revolver Loans and participations that a Defaulting Lender has failed to settle or fund; 

(iii)        third, to all amounts owing to Canadian Issuing Bank on Canadian
LC Obligations; 
 (iv)        fourth, to all Canadian Facility Obligations
(other than Secured Bank Product Obligations) constituting fees, indemnification, costs or expenses owing by any of the Canadian Domiciled Obligors to Lenders (exclusive of any UK Facility Obligations which are guaranteed by the Canadian Domiciled
Obligors); 
 (v)         fifth, to all Canadian Facility Obligations
(other than Secured Bank Product Obligations) constituting interest owing by any of the Canadian Domiciled Obligors (exclusive of any UK Facility Obligations which are guaranteed by the Canadian Domiciled Obligors); 

(vi)        sixth, to Cash Collateralize all Canadian LC Obligations; 

(vii)       seventh, to all Canadian Revolver Loans, and to Secured Bank Product
Obligations of Canadian Domiciled Obligors arising under Hedging Agreements (including Cash Collateralization thereof, but excluding any such Secured Bank Product 

  
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Obligation which is a UK Facility Obligation guaranteed by any of the Canadian Domiciled Obligors) up to the amount of Canadian Availability Reserves existing therefor; 

(viii)      eighth, to all other Secured Bank Product Obligations of any of the Canadian
Domiciled Obligors (but excluding any such Secured Bank Product Obligation which is a UK Facility Obligation guaranteed by any of the Canadian Domiciled Obligors); 

(ix)         ninth, to all other Canadian Facility Obligations (exclusive
of any UK Facility Obligations which are guaranteed by any of the Canadian Domiciled Obligors); and Obligations. 

(x)          tenth, to be applied ratably to all other Foreign
Facility 
 (b)         with respect to monies, payments, Property or Collateral of
or from the UK Domiciled Obligors, together with any allocations pursuant to subclause (x) of any other clause of this Section 5.5.2: 

(i)          first, to all fees, indemnification, costs and
expenses, including Extraordinary Expenses, owing to Agent or any Security Trustee, to the extent owing by any of the UK Domiciled Obligors; 

(ii)         second, to all amounts owing to UK Swingline Lender or Agent
on UK Swingline Loans, UK Protective Advances, and UK Revolver Loans and participations that a Defaulting Lender has failed to settle or fund; 

(iii)        third, to all amounts owing to UK Issuing Bank on UK LC
Obligations; 
 (iv)        fourth, to all UK Facility Obligations (other
than Secured Bank Product Obligations) constituting fees, indemnification, costs or expenses owing by any of the UK Domiciled Obligors to Lenders (exclusive of any Canadian Facility Obligations which are guaranteed by the UK Domiciled Obligors);

 (v)         fifth, to all UK Facility Obligations (other than
Secured Bank Product Obligations) constituting interest owing by any of the UK Domiciled Obligors (exclusive of any Canadian Facility Obligations which are guaranteed by the UK Domiciled Obligors); 

(vi)        sixth, to Cash Collateralize all UK LC Obligations; 

(vii)       seventh, to all UK Revolver Loans, and to Secured Bank Product
Obligations of UK Domiciled Obligors arising under Hedging Agreements (including Cash Collateralization thereof, but excluding any such Secured Bank Product Obligation which is a Canadian Facility Obligation guaranteed by any of the UK Domiciled
Obligors) up to the amount of UK Availability Reserves existing therefor; 

(viii)      eighth, to all other Secured Bank Product Obligations of any of the UK
Domiciled Obligors (but excluding any such Secured Bank Product Obligation 

  
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 which is a Canadian Facility Obligation guaranteed by any of the UK Domiciled Obligors);

 (ix)        ninth, to all other UK Facility Obligations (exclusive of any
Canadian Facility Obligations which are guaranteed by any of the UK Domiciled Obligors); and 

(x)         tenth, to be applied ratably to all other Foreign Facility
Obligations. 
 (c)         with respect to monies, payments, Property or
Collateral of or from the U.S. Obligors, together with any allocations pursuant to subclause (x) of any other clause of this Section 5.5.2: 

(i)          first, to all fees, indemnification, costs and
expenses, including Extraordinary Expenses, owing to Agent or any Security Trustee, to the extent owing by any of the U.S. Obligors; 

(ii)         second, to all amounts owing to U.S. Swingline Lender or
Agent on U.S. Swingline Loans, U.S. Protective Advances, and U.S. Revolver Loans and participations that a Defaulting Lender has failed to settle or fund; 

(iii)        third, to all amounts owing to U.S. Issuing Bank on U.S. LC
Obligations; 
 (iv)        fourth, to all U.S. Facility Obligations (other
than Secured Bank Product Obligations) constituting fees, indemnification, costs or expenses owing by any of the U.S. Obligors to Lenders (exclusive of any Foreign Facility Obligations which are guaranteed by the U.S. Obligors); 

(v)         fifth, to all U.S. Facility Obligations (other than Secured
Bank Product Obligations) constituting interest owing by any of the U.S. Obligors (exclusive of any Foreign Facility Obligations which are guaranteed by the U.S. Obligors); 

(vi)        sixth, to Cash Collateralize all U.S. LC Obligations; 

(vii)       seventh, to all U.S. Revolver Loans, and to Secured Bank Product
Obligations of U.S. Obligors arising under Hedging Agreements (including Cash Collateralization thereof, but excluding any such Secured Bank Product Obligation which is a Foreign Facility Obligation guaranteed by any of the U.S. Obligors) up to the
amount of U.S. Availability Reserves existing therefor; 
 (viii)      eighth, to all
other Secured Bank Product Obligations of any of the U.S. Obligors (but excluding any such Secured Bank Product Obligation which is a Foreign Facility Obligation guaranteed by any of the U.S. Obligors); 

(ix)        ninth, to all other U.S. Facility Obligations (exclusive of any
Foreign Facility Obligations which are guaranteed by any of the U.S. Obligors); and 

(x)         tenth, to be applied ratably to all other Obligations. 

  
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 (d)         with respect to
monies, payments, Property or Collateral of or from the Foreign Obligors that are neither Canadian Domiciled Obligors nor UK Domiciled Obligors, in each case to be applied ratably: 

(i)         first, to all fees, indemnification, costs and expenses,
including Extraordinary Expenses, owing to Agent or any Security Trustee, to the extent owing by Foreign Obligors; 

(ii)        second, (A) to all amounts owing to Canadian Swingline Lender
or Agent on Canadian Swingline Loans, Canadian Protective Advances, Canadian Revolver Loans and participations that a Defaulting Lender has failed to settle or fund and (B) to all amounts owing to UK Swingline Lender or Agent on UK Swingline
Loans, UK Protective Advances, UK Revolver Loans and participations that a Defaulting Lender has failed to settle or fund; 

(iii)        third, to all amounts owing to Canadian Issuing Bank on Canadian
LC Obligations and all amounts owing to UK Issuing Bank on UK LC Obligations; 

(iv)        fourth, to all Foreign Facility Obligations (other than Secured
Bank Product Obligations) constituting fees, indemnification, costs or expenses owing by any of the Foreign Obligors to Lenders; 

(v)         fifth, to all Foreign Facility Obligations (other than
Secured Bank Product Obligations) constituting interest owing by any of the Foreign Obligors; 

(vi)         sixth, to Cash Collateralize all Canadian LC Obligations and
all UK LC Obligations; 
 (vii)        seventh, to all Canadian Revolver
Loans, all UK Revolver Loans and to Secured Bank Product Obligations of Foreign Obligors arising under Hedging Agreements (including Cash Collateralization thereof) up to the amount of Canadian Availability Reserves or UK Availability Reserves, as
applicable, existing therefor; 
 (viii)       eighth, to all other Secured Bank
Product Obligations of any of the Foreign Obligors; and 

(ix)         ninth, to be applied ratably to all other Foreign Facility
Obligations. 
 Amounts shall be applied to payment of each category of Obligations set forth within subsections (a) through
(d) above, as applicable, only after Full Payment of amounts payable from time to time under all preceding categories set forth within such subsection. If amounts are insufficient to satisfy a category, they shall be paid ratably among
outstanding Obligations in the category. Monies and proceeds obtained from an Obligor shall not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other Obligors to preserve
the allocations in any applicable category. Agent shall have no obligation to calculate the amount of any Secured Bank Product Obligation and may request a reasonably detailed calculation thereof from a Secured Bank Product Provider. If the provider
fails to deliver the calculation within five days following request, Agent may assume the amount is zero. 

  
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 The allocations set forth in this Section are solely to determine the rights and priorities
among Secured Parties, and may be changed by agreement of the affected Secured Parties, without the consent of any Obligor (so long as such change could not reasonably be expected to result in material adverse tax consequences to an Obligor or a
Subsidiary of an Obligor under Section 956 of the Code). This Section is not for the benefit of or enforceable by any Obligor, and each Borrower irrevocably waives the right to direct the application of any payments or Collateral proceeds
subject to this Section. Any amount applied to the U.S. Revolver Loans shall be applied first to the U.S. Revolver Loans that are not FILO Loans until repaid in full, and then to FILO Loans. 

5.5.3            Erroneous Application. Agent shall not be
liable for any application of amounts made by it in good faith and, if any such application is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made shall be to
recover the amount from the Person that actually received it (and, if such amount was received by a Secured Party, the Secured Party agrees to return it). 

5.6        Dominion Account. The ledger balance in the Dominion Accounts
of each Borrower as of the end of a Business Day shall be applied to the Obligations of the Obligor Group to which such Borrower belongs at the beginning of the next Business Day, during any Dominion Trigger Period. If a credit balance results from
such application, it shall not accrue interest in favor of Borrowers and shall be made available to Borrowers of the applicable Borrower Group as long as no Default exists. 

5.7        Account Stated. Agent shall maintain, in accordance with its
customary practices, loan account(s) evidencing the Debt of Borrowers hereunder. Any failure of Agent to record anything in a loan account, or any error in doing so, shall not limit or otherwise affect the obligation of Borrowers to pay any amount
owing hereunder. Entries made in a loan account shall constitute presumptive evidence of the information contained therein. If any information contained in a loan account is provided to or inspected by any Person, the information shall be conclusive
and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Agent in writing within 30 days after receipt or inspection that specific information is subject to dispute. 

5.8        Taxes. 

5.8.1            Payments Free of Taxes; Obligation to
Withhold; Tax Payment. 
 (a)        All payments of
Obligations by Obligors shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If Applicable Law requires the deduction or withholding of any Tax from any such payment by Agent or an Obligor, then Agent
or such Obligor shall be entitled to make such deduction or withholding based on information and documentation provided pursuant to Section 5.9. 

(b)        If Agent or any Obligor is required by the Code to
withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) Agent shall pay the full amount that it determines is to be withheld or deducted to the relevant Governmental Authority pursuant to the
Code, and (ii) to the extent the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have
received had no such withholding or deduction been made. 

(c)        If Agent or any Obligor is required by any Applicable Law
other than the Code to withhold or deduct Taxes, including backup withholding and withholding taxes, from any payment, then (i) Agent or such Obligor, as required by Applicable Law, shall pay the full amount that it determines is to be withheld
or deducted to the relevant Governmental Authority pursuant to such Applicable Law, and (ii) to the extent the withholding or deduction is made on 

  
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account of Indemnified Taxes, the sum payable by the applicable Obligor shall be increased as necessary so that the Recipient receives an amount equal to the sum it would have received had no
such withholding or deduction been made. 

5.8.2            Payment of Other Taxes. Without limiting
the foregoing, Borrowers shall timely pay to the relevant Governmental Authority in accordance with Applicable Law, or at Agent’s option, timely reimburse Agent for payment of, any Other Taxes. 

5.8.3            Tax Indemnification. 

(a)        Each Obligor shall indemnify and hold harmless, on a joint
and several basis, each Lender, each Security Trustee and Agent against any Indemnified Taxes (including those imposed or asserted on or attributable to amounts payable under this Section) payable or paid by a Lender, a Security Trustee or Agent or
required to be withheld or deducted from a payment to a Lender, a Security Trustee or Agent, in each case with respect to any Obligations of the Obligor Group to which such Obligor belongs, and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. The applicable Obligor shall make payment within 10 days after demand for any amount or liability payable
under this Section. A certificate as to the amount of such payment or liability delivered to Borrower Agent by a Lender, a Security Trustee (in each of the foregoing cases, with a copy to Agent) or Agent on its own behalf shall be conclusive absent
manifest error. 
 (b)        Each Lender shall indemnify and hold
harmless, on a several basis, (i) Agent against any Indemnified Taxes attributable to such Lender (but only to the extent Borrowers have not already paid or reimbursed Agent therefor and without limiting Borrowers’ obligation to do so),
(ii) Agent and Borrowers, as applicable, against any Taxes attributable to such Lender’s failure to maintain a Participant register as required hereunder, and (iii) Agent and Borrowers, as applicable, against any Excluded Taxes
attributable to such Lender, in each case, that are payable or paid by Agent or a Borrower in connection with any Obligations, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. Each Lender shall make payment within 10 days after demand for any amount or liability payable under this Section. A certificate as to the amount of such payment or
liability delivered to any Lender by Agent or the Borrower Agent shall be conclusive absent manifest error. 

5.8.4      United Kingdom Tax Matters. The provisions of Section 5.8 (other
than this Section 5.8.4) and Section 5.9.1 shall not apply, and instead the provisions of this Section 5.8.4 shall apply, to any advance under any Loan Document to UK Borrower (the “Relevant
Borrower” for the purposes of this Section 5.8.4). For the avoidance of doubt, this Section 5.8.4 shall not apply to any advance under any Loan Document to any Borrower other than UK Borrower. 

(a)        Definitions. Solely for the purposes of this
Section 5.8.4, the following terms shall have the following meanings: 
 FATCA Deduction: a deduction or
withholding from a payment under a Loan Document required by FATCA. 

  
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 Qualifying Lender: 

(a)        a Lender (other than a Lender within clause (b) of the definition of
Qualifying Lender) which is beneficially entitled to interest payable to that Lender in respect of an advance under a Loan Document and is: 
  

	 	(i)	 a Lender; 

(A)        that is a bank (as defined for the purpose of section 879
of the ITA) making an advance under a Loan Document; or 

(B)        in respect of an advance under a Loan Document by a Person
that was a bank (as defined for the purpose of section 879 of the ITA) at the time that such advance under a Loan Document was made, 
 and,
in each case, which is within the charge to United Kingdom Corporation Tax with respect to any payments of interest made in respect of that advance or would be within such charge as respects such payments apart from section 18A of the CTA; or 

 

	 	(ii)	 a Lender which is: 

(A)        a company resident in the United Kingdom for United Kingdom
Tax purposes; 
 (B)        a partnership, each member of which is:

 (1)        a company so resident in the United Kingdom; or 

(2)        a company not so resident in the United Kingdom which
carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that
advance that falls to it by reason of Part 17 of the CTA; or 

(C)        a company not so resident in the United Kingdom which
carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company;
or 
  

	 	(iii)	 a Treaty Lender; or 

(b)        a building society (as defined for the purposes of section 880 of the ITA)
making an advance. 
 Tax Confirmation: a confirmation by a Lender that the person beneficially entitled to interest
payable to that Lender in respect of an advance under a Loan Document is either: 

(a)        a company resident in the United Kingdom for United Kingdom Tax purposes;
or 
 (b)        a partnership each member of which is: 

  
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 (i)         a
company so resident in the United Kingdom; or 
 (ii)        a
company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole
of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or 

(iii)        a company not so resident in the United Kingdom which
carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company.

 Tax Credit: a credit against, relief or remission for, or repayment of, any Tax. 

Tax Deduction: a deduction or withholding for or on account of Tax from a payment under a Loan Document, other than a
FATCA Deduction. 
 Tax Payment: either the increase in a payment made by an Obligor to a Lender or Agent under
Section 5.8.4(b) or 5.8.4(c). 
 Treaty State: a jurisdiction having a Treaty with the United
Kingdom which makes provision for full exemption from Tax imposed by the United Kingdom on interest. 
 UK Non-Bank
Lender: 
 (a)        a Lender (which falls within clause (a)(ii) of the
definition of Qualifying Lender) which is a party to this Agreement and which has provided a Tax Confirmation to Agent; and 

(b)        where a Lender becomes a party after the Closing Date, an Eligible Assignee
which gives a Tax Confirmation in the Assignment which it executes on becoming a party hereunder. 

(b)        Tax Gross-up. 

(i)        Each Relevant Borrower shall make all payments to be made
by it under any Loan Document without any Tax Deduction unless a Tax Deduction is required by Applicable Law. 

(ii)        A Relevant Borrower shall, promptly upon becoming aware
that it must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify Agent accordingly. Similarly, a Lender shall promptly notify Agent on becoming so aware in respect of a payment payable to that
Lender. If Agent receives such notification from a Lender it shall notify the Relevant Borrower. 

(iii)        If a Tax Deduction is required by Applicable Law to be
made by a Relevant Borrower, the amount of the payment due from that Relevant Borrower shall be increased to an amount which (after making any Tax Deduction) is equal to the payment which would have been made by the Relevant Borrower if no Tax
Deduction had been required. 
 (iv)        A payment shall not be
increased under clause (iii) above by reason of a Tax Deduction on account of Taxes imposed by the United Kingdom if, on the date on which the payment falls due: 

  
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 (A)        the
payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date
it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty or any published practice or published concession of any relevant taxing authority; or 

(B)        the relevant Lender is a Qualifying Lender solely by
virtue of clause (a)(ii) of the definition of Qualifying Lender, and: 

(1)        an officer of H.M. Revenue & Customs has given
(and not revoked) a direction (a “Direction”) under section 931 of the ITA which relates to the payment and that Lender has received from the Relevant Borrower making the payment a certified copy of that Direction; and 

(2)        the payment could have been made to the Lender without
any Tax Deduction if that Direction had not been made; or 

(C)        the relevant Lender is a Qualifying Lender solely by
virtue of clause (a)(ii) of the definition of Qualifying Lender and: 

(1)        the relevant Lender has not given a Tax Confirmation to
the Relevant Borrower; and 
 (2)        the payment could have
been made to the Lender without any Tax Deduction if the Lender had given a Tax Confirmation to the Relevant Borrower, on the basis that the Tax Confirmation would have enabled the Relevant Borrower to have formed a reasonable belief that the
payment was an “excepted payment” for the purpose of section 930 of the ITA; or 

(D)        the relevant Lender is a Treaty Lender and the Relevant
Borrower making the payment is able to demonstrate that the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under clause (b)(vii), (b)(xi) or (f)(i) (as
applicable) below. 
 (v)        If a Relevant Borrower is required
to make a Tax Deduction, that Relevant Borrower shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law. 

(vi)        Within thirty days of making either a Tax Deduction or
any payment required in connection with that Tax Deduction, the Relevant Borrower making that Tax Deduction shall deliver to Agent for the benefit of the Lender entitled to the payment a statement under section 975 of the ITA or other evidence
reasonably satisfactory to that Lender that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

(vii)        A Treaty Lender and each Relevant Borrower which makes a
payment to which that Treaty Lender is entitled shall co-operate in completing any procedural formalities necessary for that Relevant Borrower to obtain authorization to make that payment without a Tax Deduction. 

  
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 (viii)      Nothing in
clause (b)(vii) above shall require a Treaty Lender to: 

(A)        register under the HMRC DT Treaty Passport scheme; 

(B)         apply the HMRC DT Treaty Passport scheme to any advance
if it has so registered; or 
 (C)        file Treaty forms if it
has included an indication to the effect that it wishes the HMRC DT Treaty Passport Scheme to apply to this Agreement in accordance with subsections (b)(xi) or (f)(i) (HMRC DT Treaty Passport scheme confirmation) and the Relevant
Borrower making that payment has not complied with its obligations under subsections (b)(xii) or (f)(ii) (HMRC DT Treaty Passport scheme confirmation). 

(ix)       A UK Non-Bank Lender which becomes a party on the day on which
this Agreement is entered into gives a Tax Confirmation to Agent by entering into this Agreement. 

(x)        A UK Non-Bank Lender shall promptly notify Agent and the
Relevant Borrower if there is any change in the position from that set out in the Tax Confirmation. 

(xi)       A Treaty Lender which becomes a party on the day on which this
Agreement is entered into that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall include an indication to that effect (for the benefit of Agent and without liability to any
Relevant Borrower) by notifying Agent and the Relevant Borrower of its scheme reference number and its jurisdiction of Tax residence. 

(xii)      Where a Lender notifies Agent and the Relevant Borrower as described
in clause (b)(xi) above each Relevant Borrower shall file a duly completed form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of the date of this Agreement and shall promptly provide the Lender with a copy
of that filing. 
 (xiii)      If a Lender has not included an indication to
the effect that it wishes the HMRC DT Treaty Passport scheme to apply to this Agreement in accordance with clause (b)(xi) above or clause (f)(i) (HMRC DT Treaty Passport scheme confirmation), no Relevant Borrower shall file any form
relating to the HMRC DT Treaty Passport scheme in respect of that Lender’s advance or its participation in any advance. 

(c)        Tax Indemnity. 

(i)         The Relevant Borrowers shall (within three
(3) Business Days of demand by Agent) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of Taxes by that
Protected Party in respect of a Loan Document. 

(ii)        Clause (c)(i) above shall not apply: 

(A)        with respect to any Taxes that are described in clause
(a) of the definition of Excluded Taxes; or 

  
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 (B)        to the
extent a loss, liability or cost: 
 (1)        is compensated for
by an increased payment under Section 5.8.4(b)(iii); 

(2)        would have been compensated for by an increased payment
under Section 5.8.4(b)(iii) but was not so compensated solely because one of the exclusions in Section 5.8.4(b)(iv) applied; or 

(3)        relates to a FATCA Deduction. 

(iii)        A Protected Party making, or intending to make a
claim under Section 5.8.4(c)(i) above shall promptly notify Agent of the event which will give, or has given, rise to the claim, following which Agent shall notify the Borrower Agent. 

(iv)        A Protected Party shall, on receiving a payment from the
Relevant Borrowers under this Section 5.8.4(c), notify Agent. 

(d)        Tax Credit. If a Relevant Borrower makes a Tax Payment and the
relevant Protected Party determines that: 
 (i)        a Tax
Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and 

(ii)        that Protected Party has obtained and utilized that Tax
Credit, the relevant Protected Party shall pay an amount to the Relevant Borrower which that Protected Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required
to be made by the Relevant Borrower. 
 (e)        Lender Status
Confirmation. Each New Lender shall indicate, in the Assignment which it executes on becoming a party, and for the benefit of Agent and without liability to any Relevant Borrower, which of the following categories it falls within: 

(i)         not a Qualifying Lender; 

(ii)        a Qualifying Lender (other than a Treaty Lender); or 

(iii)       a Treaty Lender. 

If a New Lender fails to indicate its status in accordance with this Section 5.8.4(e), then such New Lender or
Lender (as appropriate) shall be treated for the purposes of this Agreement (including by each Relevant Borrower) as if it is not a Qualifying Lender until such time as it notifies Agent which category of Qualifying Lender applies (and Agent, upon
receipt of such notification, shall inform the Relevant Borrower). For the avoidance of doubt, an Assignment shall not be invalidated by any failure of a New Lender to comply with this Section 5.8.4(e). 

(f)        HMRC DT Treaty Passport Scheme Confirmation. 

(i)        A New Lender that is a Treaty Lender that holds a passport
under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, 

  
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shall include an indication to that effect (for the benefit of Agent and without liability to any Relevant Borrower) in the Assignment which it executes by including its scheme reference number
and its jurisdiction of Tax residence in that Assignment. 

(ii)        Where an Assignment includes the indication
described in clause (f)(i) above in the relevant Assignment, each Relevant Borrower which is a party as a Borrower as at the date that the relevant Assignment is executed (the “HMRC Transfer Date”) shall file a duly completed
form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of that HMRC Transfer Date and shall promptly provide the Lender with a copy of that filing. 

(g)          United Kingdom Stamp Taxes. The Relevant Borrowers shall
pay and, within three (3) Business Days of demand, indemnify each Lender against any cost, loss or liability that Lender incurs in relation to all stamp duties, registration or other similar Taxes payable in respect of any Loan Document. 

(h)          Value Added Tax. 

(i)        All amounts set out or expressed in a Loan Document to be
payable by any party to any Lender which (in whole or in part) constitute the consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply or supplies, and accordingly, subject
to clause (ii) below, if VAT is or becomes chargeable on any supply made by any Lender to any party under a Loan Document, that party shall pay to the Lender (in addition to and at the same time as paying any other consideration for such
supply) an amount equal to the amount of such VAT (and such Lender shall promptly provide an appropriate VAT invoice to such party). 

(ii)        If VAT is or becomes chargeable on any supply made by any
Lender (the “VAT Supplier”) to any other Lender (the “VAT Recipient”) under a Loan Document, and any party other than the VAT Recipient (the “VAT Relevant Party”) is required by the terms of any
Loan Document to pay an amount equal to the consideration for that supply to the VAT Supplier (rather than being required to reimburse or indemnify the VAT Recipient in respect of that consideration), 

(A)        (where the VAT Supplier is the person required to account
to the relevant Tax authority for the VAT) the VAT Relevant Party must also pay to the VAT Supplier (at the same time as paying that amount) an additional amount equal to the amount of VAT. The VAT Recipient must (where this subsection
(ii)(A) applies) promptly pay to the VAT Relevant Party an amount equal to any credit or repayment the VAT Recipient receives from the relevant Tax authority which the VAT Recipient reasonably determines relates to the VAT chargeable on that
supply; and 
 (B)        (where the VAT Recipient is the person
required to account to the relevant Tax authority for the VAT), the VAT Relevant Party must promptly, following demand from the VAT Recipient, pay to the VAT Recipient an amount equal to the VAT chargeable on that supply. The VAT Recipient must
(where this subsection (ii)(B) applies) promptly pay to the VAT Relevant Party an amount equal to any credit or repayment the VAT Recipient receives from the relevant Tax authority which the VAT Recipient reasonably determines relates to the
VAT chargeable on that supply. 
 (iii)        Where a Loan
Document requires any party to reimburse or indemnify a Lender for any cost or expense in connection with such Loan Document, the reimbursement or 

  
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indemnity (as the case may be) shall be for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Lender reasonably determines that
it is entitled to credit or repayment in respect of such VAT from the relevant Tax authority). 

(iv)        Any reference in this Section 5.8.4 to any
party shall, at any time when such party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative member of such group at such time (the term
“representative member” to have the same meaning as in the United Kingdom Value Added Tax Act 1994). 

(v)        In relation to any supply made by a Lender to any party
under a Loan Document, if reasonably requested by such Lender, that party must as promptly as reasonably practicable provide such Lender with details of that party’s VAT registration and such other information as is reasonably requested in
connection with such Lender’s VAT reporting requirements in relation to such supply. 

(i)         FATCA Deduction. 

(i)        The Relevant Borrower (and Agent to the extent it makes a
payment on behalf of the Relevant Borrower) may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and shall not be required to increase any payment in respect of which it
makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction. 

(ii)        Each party to this Agreement shall promptly, upon
becoming aware that it must make a FATCA Deduction to which Section 5.8.4(i)(i) above applies (or that there is any change in the rate or the basis of such FATCA Deduction), notify the party to whom it is making the payment and, in
addition, shall notify the Relevant Borrower and Agent. 
 Except as otherwise expressly provided in this Section 5.8.4,
a reference to “determines” or “determined” in connection with Tax provisions contained in Section 5.8.4 means a determination made in the absolute discretion of the person making the determination. 

5.8.5            Evidence of Payments. If Agent or an
Obligor pays any Taxes pursuant to this Section, then upon request, Agent shall deliver to Borrower Agent or Borrower Agent shall deliver to Agent, respectively, a copy of a receipt issued by the appropriate Governmental Authority evidencing the
payment, a copy of any return required by Applicable Law to report the payment, or other evidence of payment reasonably satisfactory to Agent or Borrower Agent, as applicable. 

5.8.6            Treatment of Certain Refunds. If any
party determines in its sole discretion exercised in good faith that it has received a refund of any Taxes as to which it has been indemnified by Borrowers or with respect to which an Obligor has paid additional amounts pursuant to this Section, it
shall pay Borrowers an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by Obligors with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes)
incurred by such party, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that Borrowers agree, upon request by such party, to repay the amount paid over to Borrowers
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to such party if such party is required to repay such refund to the Governmental Authority. Notwithstanding anything herein to the contrary, no Recipient
shall be required to pay any amount to Borrowers if such payment would place the Recipient in a less favorable net after-Tax position than it would have been in if the Tax subject to 

  
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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. In no event shall Agent or any Lender be required to make its tax returns (or any other information relating to its taxes that it deems confidential) available to any Borrower or other Person. 

5.8.7            Lenders/Issuing Bank. For purposes of
Sections 5.8 and 5.9, the term “Lender” shall include the Issuing Bank. 

5.8.8            Survival. Each party’s obligations
under Sections 5.8 and 5.9 shall survive the resignation or replacement of Agent or any assignment of rights by or replacement of a Lender, the termination of the Commitments, and the repayment, satisfaction, discharge or Full Payment
of any Obligations. 
 5.9         Lender Tax Information. 

5.9.1            Status of Lenders. Any Lender that is
entitled to an exemption from or reduction of withholding Tax with respect to payments of Obligations shall deliver to Borrower Agent and Agent properly completed and executed documentation reasonably requested by Borrowers or Agent as will permit
such payments to be made without or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Borrower Agent or Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by
Borrower Agent or Agent to enable them to determine whether such Lender is subject to backup withholding or information reporting requirements. Notwithstanding the foregoing, such documentation (other than documentation described in
Sections 5.9.2(a), (b) and (d)) shall not be required if a Lender reasonably believes delivery of the documentation would subject it to any material unreimbursed cost or expense or would materially prejudice its legal
or commercial position. 

5.9.2            Documentation. Without limiting the
foregoing, if any Borrower is a U.S. Person, 
 (a)        Any
Lender that is a U.S. Person shall deliver to Borrower Agent and Agent on or prior to the date on which such Lender becomes a Lender hereunder (and from time to time thereafter upon reasonable request of Borrower Agent or Agent), executed originals
of IRS Form W-9, certifying that such Lender is exempt from U.S. federal backup withholding Tax; 

(b)        Any Foreign Lender (as used in this
Section 5.9.2, “Foreign Lender” means a Lender or Issuing Bank that is not a U.S. Person) shall, to the extent it is legally entitled to do so, deliver to Borrower Agent and Agent (in such number of copies as shall be requested by
the recipient) on or prior to the date on which such Foreign Lender becomes a Lender hereunder (and from time to time thereafter upon reasonable request of Borrower Agent or Agent), whichever of the following is applicable: 

(i)        in the case of a Foreign Lender claiming the benefits of
an income tax treaty to which the United States is a party, (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN-E establishing an exemption from or reduction of U.S. federal withholding Tax
pursuant to the “interest” article of such tax treaty, and (y) with respect to other payments under the Loan Documents, IRS Form W-8BEN-E establishing an exemption from or reduction of U.S. federal withholding Tax pursuant to the
“business profits” or “other income” article of such tax treaty; 

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

(iv)       to the extent a Foreign Lender is not the beneficial owner,
executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate in form satisfactory to Agent, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable;
provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate on behalf
of each such direct and indirect partner; 
 (c)        any Foreign
Lender shall, to the extent it is legally entitled to do so, deliver to Borrower Agent and Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender hereunder (and
from time to time thereafter upon the reasonable request of Borrower Agent or Agent), executed originals of any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly
completed, together with such supplementary documentation as may be prescribed by Applicable Law to permit Borrowers or Agent to determine the withholding or deduction required to be made; and 

(d)        if payment of an Obligation to a Lender would be subject to
U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code), such Lender shall deliver to Borrower
Agent and Agent at the time(s) prescribed by law and otherwise as reasonably requested by Borrower Agent or Agent such documentation prescribed by Applicable Law (including Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by Borrower Agent or Agent as may be necessary for them to comply with their obligations under FATCA and to determine that such Lender has complied with its obligations under FATCA or to determine the amount to deduct and
withhold from such payment. Solely for purposes of this clause (d), “FATCA” shall include any amendments made to FATCA after the Original Closing Date, and for purposes of Section 5.8 and Section 5.9, the term
“Applicable Law” shall include FATCA. 
 5.9.3    Redelivery of Documentation. If any
form or certification previously delivered by a Lender pursuant to this Section expires or becomes obsolete or inaccurate in any respect, such Lender shall promptly update the form or certification or notify Borrower Agent and Agent in writing of
its inability to do so. 
 5.9.4    FATCA Non-grandfathered Obligation. For purposes of
determining withholding Taxes imposed under FATCA, the Obligors and Agent shall treat (and the Lenders hereby authorize Agent to treat) the Loan Documents as not qualifying as a “grandfathered obligation” within the meaning of Treasury
Regulation Section 1.1471-2(b)(2)(i). 

  
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 5.10    Nature and Extent of Each Borrower’s
Liability. 
 5.10.1        Joint and Several Liability of U.S.
Obligors. Each U.S. Obligor agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to Agent and the other Secured Parties the prompt payment and performance of, all Obligations, except its Excluded Swap
Obligations. Each U.S. Obligor agrees that its guarantee obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such
obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document,
instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by
Agent or any other Secured Party with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for any Obligations or any action, or the absence of any
action, by Agent or any other Secured Party in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any other Secured Party in an Insolvency Proceeding for the
application of Section 1111(b)(2) of the U.S. Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Obligor, as debtor-in-possession under Section 364 of the U.S. Bankruptcy Code or otherwise; (g) the disallowance of
any claims of Agent or any other Secured Party against any Obligor for the repayment of any Obligations under Section 502 of the U.S. Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a
legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations. 

5.10.2        Waivers by U.S. Obligors. 

(a)        Each U.S. Obligor expressly waives all rights that it may
have now or in the future under any statute, at common law, in equity or otherwise, to compel Agent or any other Secured Party to marshal assets or to proceed against any Obligor, other Person or security for the payment or performance of any
Obligations before, or as a condition to, proceeding against such Obligor. Each U.S. Obligor waives all defenses available to a surety, guarantor or accommodation co-obligor other than Full Payment of Obligations and waives, to the maximum extent
permitted by law, any right to revoke any guaranty of Obligations as long as it is an Obligor. It is agreed among each U.S. Obligor, Agent and the other Secured Parties that the provisions of this Section 5.10 are of the essence of the
transaction contemplated by the Loan Documents and that, but for such provisions, Agent, Issuing Banks and Lenders would decline to make Loans and issue Letters of Credit. Each U.S Obligor acknowledges that its guaranty pursuant to this Section is
necessary to the conduct and promotion of its business, and can be expected to benefit such business. 

(b)        Agent and the other Secured Parties may, in their
discretion, pursue such rights and remedies as they deem appropriate, including realization upon Collateral or any Real Estate by judicial foreclosure or nonjudicial sale or enforcement, without affecting any rights and remedies under this
Section 5.10. If, in taking any action in connection with the exercise of any rights or remedies, Agent or any other Secured Party shall forfeit any other rights or remedies, including the right to enter a deficiency judgment against any
U.S. Obligor or other Person, whether because of any Applicable Laws pertaining to “election of remedies” or otherwise, each U.S. Obligor consents to such action and waives any claim based upon it, even if the action may result in loss of
any rights of subrogation that any U.S. Obligor might otherwise have had. Any election of remedies that results in denial or impairment of the right of Agent or any other 

  
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 Secured Party to seek a deficiency judgment against any Obligor shall not
impair any other U.S. Obligor’s obligation to pay the full amount of the Obligations. Each U.S. Obligor waives all rights and defenses arising out of an election of remedies, such as nonjudicial foreclosure with respect to any security for
Obligations, even though that election of remedies destroys such U.S. Obligor’s rights of subrogation against any other Person. Agent may bid Obligations, in whole or part, at any foreclosure, trustee or other sale, including any private sale,
and the amount of such bid need not be paid by Agent but shall be credited against the Obligations. The amount of the successful bid at any such sale, whether Agent or any other Person is the successful bidder, shall be conclusively deemed to be the
fair market value of the Collateral of the U.S. Obligors, and the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations guaranteed under this
Section 5.10, notwithstanding that any present or future law or court decision may have the effect of reducing the amount of any deficiency claim to which Agent or any other Secured Party might otherwise be entitled but for such bidding
at any such sale. 
 5.10.3        Extent of Liability of U.S. Obligors;
Contribution. 
 (a)        Notwithstanding anything herein to
the contrary, each U.S. Obligor’s liability under this Section 5.10 shall not exceed the greater of (i) all amounts for which such U.S. Obligor is primarily liable, as described in clause (c) below, and (ii) such U.S.
Obligor’s Allocable Amount. 
 (b)        If any U.S. Obligor
makes a payment under this Section 5.10 of any Obligations (other than amounts for which such U.S. Obligor is primarily liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments previously or
concurrently made by any other U.S. Obligor, exceeds the amount that such U.S. Obligor would otherwise have paid if each U.S. Obligor had paid the aggregate Obligations satisfied by such Guarantor Payments in the same proportion that such U.S
Obligor’s Allocable Amount bore to the total Allocable Amounts of all U.S. Obligors, then such U.S. Obligor shall be entitled to receive contribution and indemnification payments from, and to be reimbursed by, each other U.S. Obligor for the
amount of such excess, ratably based on their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. The “Allocable Amount” for any U.S. Obligor shall be the maximum amount that could then be recovered
from such U.S. Obligor under this Section 5.10 without rendering such payment voidable under Section 548 of the U.S. Bankruptcy Code or under any applicable state fraudulent transfer or conveyance act, or similar statute or common
law. 
 (c)        Nothing contained in this
Section 5.10.3 shall limit the liability of any Obligor to pay or guarantee Loans made directly or indirectly to it (including Loans advanced hereunder to any other Person and then re-loaned or otherwise transferred to, or for the benefit
of, such Obligor), LC Obligations relating to Letters of Credit issued to support its business, Secured Bank Product Obligations incurred to support its business, and all accrued interest, fees, expenses and other related Obligations with respect
thereto, for which such Obligor shall be primarily liable for all purposes hereunder. 

5.10.4        Joint and Several Liability of Foreign Obligors. 

(a)        Each Foreign Obligor agrees that it is jointly and
severally liable for, and absolutely, irrevocably and unconditionally guarantees to Agent and the other Foreign Facility Secured Parties the prompt payment and performance of, all Foreign Facility Obligations (but

  
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excluding for the avoidance of doubt, any U.S. Facility Obligations and its Excluded Swap Obligations) (the “Foreign Cross-Guarantee”). Each Foreign Obligor agrees that its
guarantee obligations hereunder constitute a continuing guarantee of payment and not of collection, that such guarantee obligations shall not be discharged until Full Payment of all Foreign Facility Obligations, and that such guarantee obligations
are absolute and unconditional, irrespective of (i) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Foreign Facility Obligation or any Loan Document, or any other document,
instrument or agreement to which any Obligor is or may become a party or be bound; (ii) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by
Agent, any Security Trustee or any other Foreign Facility Secured Party with respect thereto; (iii) the existence, value or condition of, or failure to perfect, register, stamp or terminate a Lien or to preserve rights against, any security or
guaranty for the Foreign Facility Obligations or any action, or the absence of any action, by Agent, any Security Trustee or any other Foreign Facility Secured Party in respect thereof (including the release, variation or discharge of any security
or guarantee of, or the release of, any Obligor or any other Person (other than a release of such Foreign Obligor) whether under the terms of any proposal, composition or arrangement with any creditor of any Obligor or any other Person or
otherwise); (iv) the insolvency of any Obligor or any Insolvency Proceeding in relation to any Obligor; (v) any election by Agent or any other Secured Party in an Insolvency Proceeding for the application of Section 1111(b)(2) of the
U.S. Bankruptcy Code (or the substantial equivalent under any other Applicable Law); (vi) any borrowing or grant of a Lien by any other Obligor, as debtor-in-possession under Section 364 of the U.S. Bankruptcy Code (or the substantial
equivalent under any other Applicable Law) or otherwise; (vii) the disallowance of any claims of Agent or any other Secured Party against any Obligor for the repayment of any Obligations under Section 502 of the U.S. Bankruptcy Code (or
the substantial equivalent under any other Applicable Law) or otherwise; (viii) any incapacity or lack of power, authority or legal personality of, or dissolution or change in the members or status of, any Obligor or any other Person; or
(ix) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Foreign Facility Obligations. 

(b)        Each Foreign Obligor agrees with each Foreign Facility
Secured Party and its successors and permitted assigns that if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal, it will, as an independent and primary obligation, indemnify that Foreign Facility Secured Party and its
successors and permitted assigns immediately on demand against any cost, loss or liability it incurs as a result of a Foreign Obligor not paying any amount which would, but for such unenforceability, invalidity or illegality, have been payable by it
under any Loan Document on the date when it would have been due. The amount payable by a Foreign Obligor under this indemnity will not exceed the amount it would have had to pay under this Section 5.10 if the amount claimed had been
recoverable on the basis of a guarantee. 
 (c)        Without
prejudice to the generality of Section 5.10.4(a) above, each Foreign Obligor expressly confirms that it intends that the guarantee created by this Section 5.10.4 shall extend from time to time to any (however fundamental)
variation, increase, extension or addition of or to any of the Loan Documents and/or any facility or amount made available under any of the Loan Documents for the purposes of or in connection with (i) acquisitions of any nature;
(ii) increasing working capital; (iii) enabling investor distributions to be made; (iv) carrying out restructurings; (v) refinancing existing credit facilities; (vi) refinancing any other Debt; (vii) making credit
available to new Foreign Borrower(s); (viii) any other variation or 

  
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extension of the purposes for which any such facility or amount might be made available from time to time; and (ix) any fees, costs and/or expenses associated with any of the foregoing. 

5.10.5    Waivers by Foreign Obligors. 

(a)        Each Foreign Obligor hereby expressly waives all rights
that it may have now or in the future under any statute, at common law, in equity or otherwise, to compel Agent, any Security Trustee or any other Foreign Facility Secured Party to marshal assets or to proceed against any Obligor, other Person or
security for the payment or performance of any Foreign Facility Obligation before, or as a condition to, proceeding against such Obligor. Each Foreign Obligor waives all defenses available to a surety, guarantor or accommodation co-obligor other
than Full Payment of all Foreign Facility Obligations and waives, to the maximum extent permitted by law, any right to revoke any guaranty of Foreign Facility Obligations as long as it is an Obligor. It is agreed among each Foreign Obligor, Agent
and the other Foreign Facility Secured Parties that the provisions of this Section 5.10 are of the essence of the transaction contemplated by the Loan Documents and that, but for such provisions, Agent, Issuing Banks and Lenders would
decline to make Loans and issue Letters of Credit to Foreign Borrowers. Each Foreign Obligor acknowledges that its guaranty pursuant to this Section is necessary to the conduct and promotion of its business and those of its direct or indirect
holding companies, and can be expected to benefit such business. 

(b)        Agent, Security Trustees and the other Foreign Facility
Secured Parties may, in their discretion, pursue such rights and remedies as they deem appropriate, including realization upon the Collateral or Real Estate by judicial foreclosure or non-judicial sale or enforcement, to the extent permitted under
Applicable Law, without affecting any rights and remedies under this Section 5.10. If, in taking any action in connection with the exercise of any rights or remedies, Agent, any Security Trustee or any other Foreign Facility Secured
Party shall forfeit any other rights or remedies, including the right to enter a deficiency judgment against any Obligor or other Person, whether because of any Applicable Laws pertaining to “election of remedies” or otherwise, each
Foreign Obligor consents to such action and waives any claim based upon it, even if the action may result in loss of any rights of subrogation that any Foreign Obligor might otherwise have had. Any election of remedies that results in denial or
impairment of the right of Agent, any Security Trustee or any other Foreign Facility Secured Party to seek a deficiency judgment against any Obligor shall not impair any Foreign Obligor’s obligation to pay the full amount of the Foreign
Facility Obligations. Each Foreign Obligor waives all rights and defenses arising out of an election of remedies, such as nonjudicial foreclosure with respect to any security for the Foreign Facility Obligations, even though that election of
remedies destroys such Foreign Obligor’s rights of subrogation against any other Person. Agent may bid Obligations of the Foreign Obligors, in whole or in part, at any foreclosure, trustee or other sale, including without limitation any private
sale, and the amount of such bid need not be paid by Agent but shall be credited against the Foreign Facility Obligations. The amount of the successful bid at any such sale, whether Agent or any other Person is the successful bidder, shall be
conclusively deemed to be the fair market value of the Collateral of the Foreign Obligors, and the difference between such bid amount and the remaining balance of the Foreign Facility Obligations shall be conclusively deemed to be the amount of the
Foreign Facility Obligations guaranteed under this Section 5.10, notwithstanding that any present or future law or court decision may have the effect of reducing the amount of any deficiency claim to which Agent or any other Foreign
Facility Secured Party might otherwise be entitled but for such bidding at any such sale. 

  
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 (c)        Each
Mexican Domiciled Obligor hereby expressly acknowledges and agrees that this Agreement is governed by the laws of the State of New York as set forth in Section 14.14 and expressly agrees that any rights and privileges that it might
otherwise have under the laws of Mexico shall not be applicable to this Agreement, indemnities and other assurances contained herein or any guarantee granted by such Mexican Domiciled Obligor, on the date hereof or in the future, pursuant to this
Agreement. For such purposes, each Mexican Domiciled Obligor hereby unconditionally and irrevocably waives any rights to which it may be entitled (including the rights to excusión, orden, división and subrogación),
to the extent applicable, under Articles 2813, 2814, 2815, 2816, 2817, 2818, 2819, 2820, 2821, 2822, 2823, 2824, 2826, 2827, 2828, 2830, 2835, 2836, 2837, 2838, 2839, 2840, 2842, 2844, 2846, 2847, 2848 and 2849 of the Federal Civil Code
(Código Civil Federal) and the corresponding provisions of the Civil Codes of the States of Mexico and the Federal District of Mexico (or any successor provisions). Each Mexican Domiciled Obligor represents that (i) it is familiar
with the contents of the articles referred to in subparagraph (c) above; (ii) it will receive valuable direct and indirect benefits as a result of the entering into this Foreign Cross-Guaranty or any Loan Document to which it is a party;
(iii) it is solvent pursuant to the terms of the Mexican Bankruptcy Law; (iv) it has not been declared in concurso mercantil or bankruptcy (quiebra) or other similar insolvency procedure; and (v) there is no pending and,
to its knowledge, threatened action, claim, requirement or proceeding before any court, governmental agency, arbitrator or jurisdictional entity that affects or could affect the legality, validity or enforceability of this Foreign Cross-Guaranty.

 5.10.6    U.S. Limitations. To the extent that providing such Foreign Cross-Guarantee would
reasonably be expected to result in material adverse tax consequences to an Obligor or a Subsidiary of an Obligor under Section 956 of the Code, the Foreign Cross-Guarantee shall not require any Foreign Obligor that is not or is not required to
be a U.S. Facility Obligor to guarantee any Obligations of any other Foreign Obligor that is disregarded as an entity separate from any U.S. Subsidiary for U.S. federal income tax purposes. 

5.10.7    Joint Enterprise. Each Borrower has requested that Agent, Issuing Banks and Lenders make
this credit facility available to Borrowers on a combined basis, in order to finance Borrowers’ business most efficiently and economically. Obligors’ business is a mutual and collective enterprise, and the successful operation of each
Obligor is dependent upon the successful performance of the integrated group. Borrowers believe that consolidation of their credit facility will enhance the borrowing power of each Borrower and ease administration of the facility, all to their
mutual advantage. Borrowers acknowledge that Agent’s, Issuing Banks’ and Lenders’ willingness to extend credit and to administer the Collateral on a combined basis hereunder is done solely as an accommodation to Borrowers and at
Borrowers’ request. 
 5.10.8        Subordination. Each Obligor hereby
subordinates any claims, including any rights at law or in equity to payment, subrogation, reimbursement, exoneration, contribution, indemnification or set off, that it may have at any time against any other Obligor, howsoever arising, to the Full
Payment of all Obligations. 
 5.10.9        Keepwell. Each Obligor that is a
Qualified ECP when its guaranty of or grant of Lien as security for a Swap Obligation becomes effective hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide funds or other support to each Specified Obligor
with respect to such Swap Obligation as may be needed by such Specified Obligor from time to time to honor all of its obligations under the Loan Documents in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such
liability that can be hereby 

  
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 incurred without rendering such Qualified ECP’s obligations and undertakings under this
Section 5.10 voidable under any applicable fraudulent transfer or conveyance act, and in each case only so long as providing such funds or support could not reasonably be expected to result in material adverse tax consequences to an
Obligor or a Subsidiary of an Obligor under Section 956 of the Code). The obligations and undertakings of each Qualified ECP under this Section shall remain in full force and effect until Full Payment of all Obligations. Each Obligor intends
this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a “keepwell, support or other agreement” for the benefit of, each Obligor for all purposes of the Commodity Exchange Act.

 5.11    Currency Matters. Dollars are the currency of account and payment for each and
every sum at any time due from Obligors hereunder or under any other Loan Document unless otherwise specifically provided in this Agreement, any other Loan Document or otherwise agreed to by Agent; provided that: 

5.11.1   each repayment of a Revolver Loan, LC Obligation or a part thereof shall be made in the currency in which
such Revolver Loan or LC Obligation is denominated at the time of that repayment; 
 5.11.2   each payment of
interest shall be made in the currency in which the principal or other sum in respect of which such interest is denominated; 

5.11.3   (a) each payment of fees pursuant to Section 3.2.1(c) shall be in Dollars; (b) each
payment of fees pursuant to Section 3.2.1(a) shall be in Dollars or Canadian Dollars and (c) each payment of fees pursuant to Section 3.2.1(b) shall be in Dollars or Sterling, which payment currency, in the case of
clauses (b) and (c) above, shall be at the option of the relevant Borrower Group, and the amount of any such payment made in a currency other than Dollars determined by Agent based on the Spot Rate; 

5.11.4   each payment of fees pursuant to Section 3.2.2 shall be in the currency of the underlying
Letter of Credit; and 
 5.11.5   each payment in respect of Extraordinary Expenses and any other costs, expenses
and indemnities shall be made in the currency in which the same were incurred by the party to whom payment is to be made. 
 No
payment to any Credit Party or any Security Trustee (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Obligor in respect of which it was made unless and until such Credit Party or such
Security Trustee shall have received Full Payment in the currency in which such obligation or liability is payable pursuant to the above provisions of this Section 5.11. Agent has the right, at the expense of the applicable Obligor, to
convert any payment made in an incorrect currency into the applicable currency required under this Agreement. To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or
liability actual or contingent expressed in that currency, such Obligor (together with the other Obligors within its Obligor Group or other obligors pursuant to any Guarantee of the Obligations of such Obligor Group) agrees to indemnify and hold
harmless such Credit Party or such Security Trustee, with respect to the amount of the shortfall with respect to amounts payable by such Obligor hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding,
judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount of any such payment to a Credit Party or a Security Trustee shall, upon an actual conversion into such currency,
exceed such obligation or liability, actual or contingent, expressed in that currency, such Credit Party or such Security Trustee shall return such excess to the members of the affected Borrower Group. 

  
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 SECTION 6 

CONDITIONS PRECEDENT 

6.1                    
            Conditions Precedent to Closing Date. In addition to the conditions set forth in Section 6.2, Lenders shall not be required to fund any requested Loan,
issue any Letter of Credit, or otherwise extend credit to Borrowers hereunder, until the time that each of the following conditions has been satisfied (the date, if any, upon which such conditions are first satisfied is referred to herein as the
“Closing Date”): 
 (a)        Each Loan Document
shall have been duly executed and delivered to Agent by each of the signatories thereto, and each Obligor shall be in compliance with all terms thereof; provided, however, that Borrowers shall not be required to deliver a Lien Waiver on the
Closing Date for a location for which Agent has established a Rent and Charges Reserve. 

(b)        [Reserved.] 

(c)        Each Collateral and Guarantee Requirement shall have been
satisfied and Agent shall have received a completed Perfection Certificate dated as of the Closing Date and signed by an executive officer or Financial Officer of each Obligor, together with all attachments contemplated thereby, including the
results of a search of the Uniform Commercial Code, PPSA and equivalent filings made with respect to the Obligors in the jurisdictions contemplated by the Perfection Certificate and copies of the financing statements (or similar documents) disclosed
by such search and evidence reasonably satisfactory to Agent (including PPSA estoppel letters) that the Liens indicated by such financing statements (or similar documents) are permitted by Section 10.2.2 or have been released or will be
released pursuant to UCC-3 financing statements, PPSA termination statements or other release documentation delivered to Agent. 

(d)        Agent shall have received duly executed agreements
establishing and/or evidencing each Dominion Account and (where applicable) related lockbox and each Controlled Account, each in form and substance, and with financial institutions, satisfactory to Agent. 

(e)        Agent shall have received certificates, in form and
substance satisfactory to it, from a knowledgeable Senior Officer of each Borrower and each Mexican Domiciled Obligor certifying that, after giving effect to the initial Loans and transactions hereunder, (i) no Default exists; (ii) the
representations and warranties set forth in Section 9 are true and correct; and (iii) such Borrower has complied with all agreements and conditions to be satisfied by it under the Loan Documents. 

(f)        Agent shall have received a certificate of a duly
authorized officer of each Obligor, certifying (i) that attached copies of such Obligor’s Organic Documents (including, without limitation, charter documents of such Obligor that are, except with respect to a UK Domiciled Obligor or a
Dutch Domiciled Obligor, certified by the Secretary of State or other appropriate official of such Obligor’s jurisdiction of organization) are true and complete, and in full force and effect, without amendment except as shown; (ii) that an
attached copy of resolutions authorizing execution and delivery of the Loan Documents is true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and (with respect to
the U.S. Obligors, together with the resolutions delivered pursuant to Section 6 of the Original Loan Agreement) constitute all resolutions adopted with respect to this credit facility; and (iii) to the title, name and signature of each
Person 

  
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authorized to sign the Loan Documents. Agent may conclusively rely on this certificate until it is otherwise notified by the applicable Obligor in writing. 

(g)        Agent shall have received a written opinion of Cahill Gordon &
Reindel LLP, as well as any local counsel to Obligors or Agent (including, without limitation, Canadian, English, Mexican and Dutch counsel), in form and substance satisfactory to Agent. 

(h)        Agent shall have received good standing certificates for
each Obligor (other than the Dutch Domiciled Obligors) issued by the Secretary of State or other appropriate official of such Obligor’s jurisdiction of organization and each jurisdiction in the United States, Canada, the United Kingdom, Mexico
or the Netherlands where such Obligor’s conduct of business or ownership of Property necessitates qualification (in each case, to the extent that such certificates or certificates of similar subject matter are issued, in general, by such
officials in such jurisdictions). 
 (i)         Agent shall
have received copies of policies or certificates of insurance for the insurance policies carried by Obligors, together with a loss payable endorsement naming Agent as loss payee and reasonably acceptable to Agent, all in compliance with the Loan
Documents. 
 (j)         Agent shall have completed its
business, financial and legal due diligence of Obligors, including a roll-forward of its previous field examination, with results satisfactory to Agent. No material adverse change in the financial condition of Obligors and their Subsidiaries, taken
as a whole, or in the quality, quantity or value of any Collateral shall have occurred since December 31, 2014. The capital structure of the Obligors shall be satisfactory to Agent. 

(k)        Borrowers shall have paid all fees and expenses (provided
that legal fees required to be paid as a condition precedent to the occurrence of the Closing Date shall be limited to such legal fees as to which Borrowers have received a summary invoice) required to be paid to Agent and/or the Lenders under the
Loan Documents on or prior to the Closing Date. 

(l)         Agent shall have received a Borrowing Base Report as
of the most recent month ending at least 15 days prior to the Closing Date. 

(m)       Agent and the Lenders shall have received all documentation and
other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and other AML Legislation. 

(n)        Agent shall have received executed copies of the any Term
Loan Document or modifications to the Term Loan Documents executed in connection with the Transactions, which shall be in form and substance satisfactory to Agent and shall be in full force and effect. 

(o)        Agent shall have received the originals of any pledged
Collateral representing all of the issued and outstanding shares of the Equity Interests constituting Collateral and required to be delivered to Agent under the Loan Documents, in each case together with stock powers (or the equivalent, including,
without limitation, endorsements (endosos)) duly executed in blank with respect thereto (except with respect to uncertificated pledged Collateral and such Collateral that constitutes Term Priority Collateral). 

  
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 (p)        Agent
shall have received payoff or release letters, in form and substance satisfactory to Agent, confirming that the Obligors and their Subsidiaries are released from all obligations under any Debt not expressly permitted by this Agreement and providing
a release of all of the Liens existing with respect to any such Debt in and to the assets of the applicable Obligors and their Subsidiaries, together with termination statements and other documentation evidencing the termination of any such Liens in
and to the properties and assets of the applicable Obligors and their Subsidiaries. 

(q)        Agent shall have received evidence, in form and substance
satisfactory to Agent, that the Mexican Domiciled Obligors have irrevocably appointed the Borrower Agent, before a Mexican notary public, a special irrevocable power of attorney, in the form of Exhibit E, to act as its agent for service of
process. 
 6.2        Conditions Precedent to All Credit Extensions. Agent, Issuing
Banks and Lenders shall not be required to fund any Loans, arrange for issuance of any Letters of Credit or grant any other accommodation to or for the benefit of Borrowers, unless the following conditions are satisfied: 

(a)        No Default or Event of Default shall exist at the time of, or result from,
such funding, issuance or grant; 
 (b)        The representations
and warranties of each Obligor in the Loan Documents shall be true and correct on the date of, and upon giving effect to, such funding, issuance or grant (except for representations and warranties that expressly relate to an earlier date); 

(c)        All conditions precedent in any other Loan Document shall be satisfied;

 (d)        No event shall have occurred or circumstance exist that has or could
reasonably be expected to have a Material Adverse Effect; and 
 (e)        With
respect to issuance of a Letter of Credit, the LC Conditions shall be satisfied. 
 Each request (or deemed request) by Borrowers for
funding of a Loan, issuance of a Letter of Credit or grant of an accommodation shall constitute a representation by Borrowers that the foregoing conditions are satisfied on the date of such request and on the date of such funding, issuance or grant.
As an additional condition to any funding, issuance or grant, Agent shall have received such other information, documents, instruments and agreements as it deems appropriate in connection therewith. 

SECTION 7 
 COLLATERAL

 7.1        Grant of Security Interest. As security for the full
and timely payment and performance of all Obligations, the Borrowers shall, and shall cause each other Obligor to, on or before the Closing Date, subject to any applicable limitations set forth in the Security Documents, do or cause to be done all
things necessary in the opinion of Agent in its Permitted Discretion to cause each Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of such Obligors. Without limiting the foregoing, the Borrowers shall deliver, and
shall cause each other Obligor to deliver, to Agent, in form and substance reasonably acceptable to Agent, the Security Documents to which such Obligors are required to be party and, subject to the Agreed Security Principles (if applicable) and the

  
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 limitations set forth in the Security Documents, shall take such further action and
deliver or cause to be delivered such further documents as required by the Security Documents or otherwise as Agent may reasonably request to effect the transactions contemplated by this Section 7. 

7.2      Cash Collateral. 

7.2.1        [Reserved.] 

7.2.2        Cash Collateral.    Cash Collateral may be
invested, at Agent’s Permitted Discretion (and with the consent of Borrower Agent, as long as no Event of Default exists), but Agent shall have no duty to do so, regardless of any agreement or course of dealing with any Obligor, and shall have
no responsibility for any investment or loss. As security for the Obligations, each Obligor shall grant to Agent, in accordance with the applicable Collateral and Guarantee Requirement, a security interest in and Lien upon all Cash Collateral held
from time to time and all proceeds thereof, whether held in a Cash Collateral Account or otherwise. Agent may apply Cash Collateral of (a) a U.S. Obligor to the payment of any Obligations and (b) a Foreign Obligor to the payment of any
Foreign Facility Obligations, in each case, to the payment of such Obligations as they become due, in such order as Agent may elect. Each Cash Collateral Account and all Cash Collateral shall be under the sole dominion and control of Agent. No U.S.
Obligor or other Person claiming through or on behalf of any U.S. Obligor shall have any right to any Cash Collateral until Full Payment of all Obligations. No Foreign Obligor or other Person claiming through or on behalf of any Foreign Obligor
shall have any right to any Cash Collateral until Full Payment of all Foreign Facility Obligations. 

7.3        Collateral Assignment of Leases.    To
further secure the prompt payment and performance of the Foreign Facility Obligations, each Canadian Domiciled Obligor and each U.S. Domiciled Obligor hereby transfers and assigns to Agent and/or Security Trustee all of such Obligor’s right,
title and interest in, to and under all now or hereafter existing leases of real property with annual rents in excess of $1,500,000 to which such Obligor is a party, whether as lessor or lessee, and all extensions, renewals, modifications and
proceeds thereof. To further secure the prompt payment and performance of all Obligations, each U.S. Obligor hereby transfers and assigns to Agent all of such Obligor’s right, title and interest in, to and under all now or hereafter existing
leases of real property with annual rents in excess of $1,500,000 to which such Obligor is a party, whether as lessor or lessee, and all extensions, renewals, modifications and proceeds thereof. 

7.4        Limitations. The Lien on Collateral granted under the
Security Documents is given as security only and shall not subject Agent, any Security Trustee, any Issuing Bank or any Lender to, or in any way modify, any obligation or liability of Obligors relating to any Collateral. In no event shall the grant
of any Lien under any Loan Document secure an Excluded Swap Obligation of the granting Obligor. 
 SECTION 8 

COLLATERAL ADMINISTRATION 

8.1        Borrowing Base Reports; Reallocation of U.S. Availability. By
the 15th day of each month, Borrower Agent shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Report as of the close of business of the previous month, and at such other times as Agent may request;
provided, that, during any Borrowing Base Trigger Period, by Wednesday of each week, Borrower Agent shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Report as of the close of business of the
previous week, and at such other times as Agent may request. In addition, upon the occurrence and during the continuation of an Event of Default, 

  
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Borrower Agent shall deliver to Agent (and Agent shall promptly deliver same to Lenders) Borrowing Base Reports on a more frequent basis if requested by Agent. All information (including
calculation of Total Availability and each component of Total Availability) in a Borrowing Base Report shall be certified by Borrower Agent. Agent may from time to time adjust any such report (a) to reflect Agent’s reasonable estimate of
declines in value of Collateral, due to collections received in the Dominion Accounts or otherwise; (b) to adjust advance rates to reflect changes in dilution, quality, mix and other factors affecting Collateral; and (c) to the extent any
information or calculation does not comply with this Agreement. The Borrowers may neither (a) reallocate the Foreign Allocated U.S. Availability component of any Foreign Borrower’s Borrowing Base if such reallocation would result in an
Overadvance for such Foreign Borrower nor (b) allocate U.S. Availability to any Foreign Borrower’s Borrowing Base if such reallocation would result in a U.S. Overadvance. 

8.2      Accounts. 

8.2.1        Records and Schedules of Accounts. Each Borrower shall keep
accurate and complete records of its Accounts in all material respects, including all payments and collections thereon, in a manner consistent with past business practices, and shall submit to Agent sales, collection, reconciliation and other
reports in form satisfactory to Agent, on such periodic basis as Agent may request. Each Borrower shall also provide to Agent, on each date that a Borrowing Base Report is delivered or required to be delivered pursuant to Section 8.1, an
ineligible Account reconciliation report and a detailed aged trial balance of all Accounts as of the end of the preceding month, specifying each Account’s Account Debtor name and address, amount, invoice date and due date, showing any discount,
allowance, credit, authorized return or dispute, and, if a Borrowing Base Trigger Period is in effect or such materials are reasonably requested by Agent, documents evidencing proof of delivery, copies of invoices and invoice registers, copies of
related documents, repayment histories, status reports and other information as Agent may reasonably request. If Accounts in an aggregate face amount of $2,000,000 or more cease to be Eligible Accounts, Borrower Agent shall notify Agent of such
occurrence promptly (and in any event within one Business Day) after any Borrower has knowledge thereof. 

8.2.2        [Reserved.] 

8.2.3        [Reserved.] 

8.2.4        Maintenance of Dominion Account. Obligors shall maintain each
Dominion Account and each Controlled Account pursuant to lockbox or other arrangements acceptable to Agent. Each Obligor shall obtain, on or prior to the applicable deadline set forth in the Security Document(s) to which such Obligor is a party, an
agreement (in form and substance satisfactory to Agent) from the lockbox servicers (if applicable), Dominion Account bank and other depositories and securities intermediaries with whom Controlled Accounts are maintained, establishing Agent’s or
a Security Trustee’s control over and Lien in the lockboxes (if applicable), each Dominion Account and each Controlled Account, which may be exercised by Agent or the applicable Security Trustee during any Dominion Trigger Period, requiring
immediate deposit of all remittances received in the lockbox (if applicable) or other Controlled Accounts to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account
is not maintained with Bank of America or Bank of America (Canada), Agent may, during any Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America or Bank of America
(Canada), as applicable. Agent and Lenders assume no responsibility to any Obligor for any lockbox arrangement, Controlled Account or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items
accepted by any bank. 

  
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 8.2.5        Proceeds of
Collateral. Obligors shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion
Account). If any Obligor or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and Security Trustees and promptly (not later than the next Business Day) deposit same into a Dominion
Account. Foreign Borrowers shall not participate in any cash pooling arrangements. 

8.3      Inventory. 

8.3.1        Records and Reports of Inventory. Each Borrower shall keep
accurate and complete records of its Inventory in all material respects, including costs and daily withdrawals and additions, in a manner consistent with past business practice, and shall submit to Agent inventory and reconciliation reports in form
satisfactory to Agent, on such periodic basis as Agent may request. Each Borrower shall conduct a physical inventory at least once per calendar year (and on a more frequent basis if requested by Agent when an Event of Default exists) and periodic
cycle counts consistent with historical practices, and shall provide to Agent a report based on each such inventory and count promptly upon completion thereof, together with such supporting information as Agent may request. Agent may participate in
and observe each physical count. 
 8.3.2        [Reserved.] 

8.3.3        Acquisition, Sale and Maintenance. Each Borrower shall make
commercially reasonable efforts to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA. Borrowers shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable
standards of any insurance and in conformity with all Applicable Law. 

8.4        [Reserved.] 

8.5        Deposit Accounts.    Each Obligor shall
take all actions necessary to establish and maintain Agent’s (or the applicable Security Trustee’s) control of, and first priority perfected Lien on, each Deposit Account and Securities Account (in each case, other than Excluded Accounts)
as required by this Agreement and/or the Security Documents. Each applicable Obligor shall be the sole account holder of each applicable Deposit Account and Securities Account (in each case, other than Excluded Accounts) of such Obligor and shall
not allow any other Person (other than Agent, a Security Trustee, the Senior Term Agent and/or Term Loan Agent or in respect of any Permitted Encumbrance arising under clause (j) of the definition thereof) to have control over or a Lien on any such Deposit Account, Securities Account or any
Property deposited or held therein. 
 8.6      General Provisions. 

8.6.1        [Reserved.] 

8.6.2        Insurance of Collateral; Condemnation Proceeds. 

(a)        [Reserved.] 

(b)        Any Net Proceeds of insurance (other than proceeds from workers’
compensation or D&O insurance) and any Net Proceeds of awards arising from condemnation of any Collateral shall be paid to Agent and/or the
Controlling Term Loan Agent as required pursuant to the Loan Documents, the Senior Term Loan Documents, the Term Loan Documents

  
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and the Intercreditor Agreement. Any such Net Proceeds of insurance or condemnation awards that relate to Revolver Priority Collateral shall be applied to payment of the Revolver Loans, and then
to other Obligations. Subject to the Intercreditor Agreement and clause (c) below, any such Net Proceeds of insurance or condemnation awards that relate to Term Priority Collateral, to the extent not timely applied to repair, restore or replace
such property or asset in accordance with the Senior Term Loan Documents and/or the
Term Loan Documents, shall be applied first to the Senior Term Debt and/or the Term Loan
Debt until paid in full, then to U.S. Revolver Loans until paid in full and then to other Obligations. 

(c)        To the extent permitted by the Senior Term Loan Documents and the Term Loan Documents and subject to the
Intercreditor Agreement, Borrowers may use Net Proceeds of insurance that relate to Equipment or Real Estate and Net Proceeds of awards arising from condemnation of Real Estate to repair, restore or replace such Equipment or Real Estate. 

8.6.3        Protection of Collateral. All expenses of protecting, storing,
warehousing, insuring, handling, maintaining and shipping any Collateral of an Obligor Group, all Taxes payable with respect to any Collateral of an Obligor Group (including any sale thereof), and all other payments required to be made by Agent or a
Security Trustee to any Person to realize upon any Collateral of an Obligor Group, shall be borne and paid by such Obligor Group. Neither Agent nor any Security Trustee shall be liable or responsible in any way for the safekeeping of any Collateral,
for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s or such Security Trustee’s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman,
carrier, forwarding agency or other Person whatsoever, but the same shall be at Obligors’ sole risk. 
 SECTION 9 

REPRESENTATIONS AND WARRANTIES 

9.1      General Representations and Warranties. To induce Agent and Lenders to
enter into this Agreement and to make available the Commitments, Loans and Letters of Credit, each Obligor represents and warrants that, on the Closing Date and at each time that the following representations and warranties are made or deemed to be
made thereafter: 
 9.1.1        Organization; Powers. Each Obligor and each
Subsidiary of each Obligor is duly organized or incorporated, validly existing and in good standing (where applicable) under the laws of the jurisdiction of its organization or incorporation, has all requisite power and authority to carry on its
business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required. 
 9.1.2        Authorization;
Enforceability. The Transactions to be entered into by each Obligor are within such Obligor’s powers and have been duly authorized by all necessary action. This Agreement has been duly executed and delivered by each Obligor and constitutes,
and each other Loan Document to which any Obligor is to be a party, when executed and delivered by such Obligor, will constitute, a legal, valid and binding obligation of such Obligor, enforceable in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

9.1.3        Governmental Approvals; No Conflicts. The Transactions and the
other transactions contemplated hereby (a) do not require any consent or approval of, registration or filing with, 

  
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or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) filings necessary to perfect Liens created under
the Loan Documents and (iii) consents, approvals, registrations, filings or actions the failure of which to obtain or perform could not reasonably be expected to result in a Material Adverse Effect, (b) will not violate any Applicable Law or
regulation or the charter, by-laws or other organizational documents of any Obligor or any Subsidiary of any Obligor or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, agreement or other
instrument binding upon any Obligor or any Subsidiary of any Obligor or their assets, or give rise to a right thereunder to require any payment to be made by any Obligor or any Subsidiary of any Obligor, except for violations, defaults or the
creation of such rights that could not reasonably be expected to result in a Material Adverse Effect, (d) will not result in the creation or imposition of any Lien on any asset of any Obligor or any Subsidiary of any Obligor, except Liens
created under the Loan Documents and Liens permitted by Section 10.2.2, and (e) do not require any acknowledgement, agreement or consent under any indenture, agreement or other instrument binding upon any Obligor or any Subsidiary
of any Obligor or their assets, except for such acknowledgements, agreements and consents as have been obtained or made and are in full force and effect, and such acknowledgements, agreements or consents the failure of which to obtain could not
reasonably be expected to result in a Material Adverse Effect. Schedule 9.1.3 sets forth for each Obligor a description of each license from a Governmental Authority which is material to the conduct of the business of such Obligor as of the
Closing Date. 
 9.1.4        Financial Condition; No Material Adverse
Change. 
 (a)        The Obligors have heretofore furnished to
Agent and the Lenders the consolidated balance sheet of the Parent Borrower and its consolidated Subsidiaries and the related statements of income, stockholders equity and cash flows (i) as of and for the fiscal years ended December 31,
2013 and December 31, 2014, reported on by Deloitte & Touche LLP, independent public accountants, and (ii) as of and for each Fiscal Quarter ended subsequent to December 31, 2014 and at least 45 days prior to the Closing
Date, in each case certified by its chief financial officer (it being understood that the Obligors have furnished the foregoing referenced in clause (i) to Agent on the Original Closing Date). Such financial statements present fairly, in all
material respects, the financial position and results of operations and cash flows of the Parent Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the
absence of footnotes in the case of the statements referred to in clause (ii) above. 

(b)        The Obligors have heretofore furnished to Agent a pro forma
consolidated balance sheet of the Parent Borrower and its consolidated Subsidiaries and related pro forma consolidated statement of income of the Parent Borrower as of and for the 12-month period ending on the last day of the most recently completed
four-Fiscal Quarter period for which financial statements were delivered under Section 9.1.4(a), prepared after giving effect to the Transactions and the other transactions contemplated hereby to be consummated on the Closing Date as if
the Transactions and such other transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such period (in the case of such income statements). 

(c)        Except as disclosed in the financial statements referred to
above, except for the Disclosed Matters and except for liabilities arising as a result of the Transactions, after giving effect to the Transactions, neither the Parent Borrower nor any Subsidiary of the Parent Borrower has, as of the Closing Date,
any contingent liabilities that would be material to the Parent Borrower and its Subsidiaries, taken as a whole. 

  
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 (d)        Since December 31,
2014, there has been no event, change or occurrence that, individually or in the aggregate, has had or could reasonably be expected to result in a Material Adverse Effect. 

9.1.5        Properties. 

(a)        Each of the Parent Borrower and its Subsidiaries has good
title to, or valid leasehold interests in, all its real and personal property material to its business (including its Real Estate that is subject to a Mortgage), except for minor defects in title that do not interfere with its ability to conduct its
business as currently conducted or to utilize such properties for their intended purposes. 

(b)        Each of the Parent Borrower and its Subsidiaries owns, or
is licensed to use, all Intellectual Property material to its business, and the use thereof by the Parent Borrower and its Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(c)        Schedule 9.1.5 sets forth the address of each real
property that is owned or leased by the Parent Borrower or any of its Subsidiaries as of the Closing Date after giving effect to the Transactions. 

9.1.6        Litigation and Environmental Matters. 

(a)        There are no actions, suits or proceedings by or before any
arbitrator or Governmental Authority pending against or, to the knowledge of the Parent Borrower, threatened against or affecting the Parent Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse
determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters set forth on Schedule 9.1.6) or (ii) that involve
any of the Loan Documents or the Transactions. 
 (b)        Except
for the Disclosed Matters set forth on Schedule 9.1.6 and except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, neither the Parent Borrower
nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental
Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability. 

(c)        Since the Original Closing Date, there has been no change in the status of
the Disclosed Matters set forth on Schedule 9.1.6 that, individually or in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 

(d)        No Obligor is in default with respect to any order, injunction or judgment
of any Governmental Authority, except for such defaults which, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

9.1.7        Compliance with Laws and Agreements. Each of the Parent Borrower and its
Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority 

  
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applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing. 

9.1.8        Investment Company Status. Neither the Parent Borrower nor any of its Subsidiaries
is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

9.1.9        Taxes. Each of the Parent Borrower and its Subsidiaries has timely filed or caused
to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) any Taxes that are being contested in good faith by appropriate proceedings and for
which the Parent Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse
Effect. As of the Closing Date, there is no pending audit of any Obligor with any federal, state, provincial, local or foreign tax authority, except as could not reasonably be expected to result in a Material Adverse Effect. 

9.1.10         Employee Benefit Plans. 

(a)        ERISA. No ERISA Event has occurred or is reasonably
expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. As of the Closing Date, the present value of all
accumulated benefit obligations of all underfunded U.S. Pension Plans (based on the assumptions used for purposes of the Financial Accounting Standards Board Accounting Standards Codification Topic No. 715-30) did not, as of the date of the
most recent financial statements reflecting such amounts, exceed by more than $10,000,000 the fair market value of the assets of all such underfunded U.S. Pension Plans. 

(b)        Canadian Employee Plans. No Canadian Employee Plan
provides for medical, life or other welfare benefits (through insurance or otherwise), with respect to any current or former employee of any Canadian Domiciled Obligor or any Affiliate thereof after retirement or other termination of service (other
than coverage mandated by requirements of Applicable Law or coverage provided through the end of the month containing the date of termination from service or otherwise where part of a severance package or with respect to injured or disabled
employees). Canadian Domiciled Obligors are in compliance with the requirements of the PBA and any binding FSCO requirements of general application with respect to each Canadian Pension Plan and in compliance with any FSCO directive or order
directed specifically at a Canadian Pension Plan. No Canadian Pension Plan has any Unfunded Current Liability. No fact or situation that may reasonably be expected to result in a Material Adverse Effect exists in connection with any Canadian Pension
Plan. No Canadian Domiciled Obligor or Subsidiary contributes to or participates in a Canadian Multi-Employer Plan. No Canadian Domiciled Obligor or an Affiliate thereof maintains, contributes or has any liability with respect to a Canadian Pension
Plan which provides benefits on a defined benefit basis. No Termination Event has occurred. All contributions required to be made by any Canadian Domiciled Obligor or Subsidiary to any Canadian Pension Plan have been made in a timely fashion in
accordance with the terms of such Canadian Pension Plan and the PBA. No Lien has arisen, choate or inchoate, in respect of any Canadian Domiciled Obligor or their property in connection with any Canadian Pension Plan (other than contribution amounts
not yet due). 
 (c)        Foreign Plans. All Foreign Plans
are in compliance with, and have been established, administered and operated in accordance with, the terms of such Foreign Plans and 

  
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Applicable Law, except for any failure to so comply, establish, administer or operate the Foreign Plans as would not reasonably be expected to have a Material Adverse Effect. All contributions or
other payments which are due with respect to each Foreign Plan have been made in full and there are no funding deficiencies thereunder, except to the extent any such events would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect. 
 (d)        UK Pension Plan. No
UK Domiciled Obligor is or has at any time been (1) an employer (as defined for the purposes of sections 38 to 51 of the Pensions Act 2004(UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the
Pension Schemes Act (1993)(UK)) or (2) “connected” with or an “associate” (as those terms are used in sections 38 and 43 of the Pensions Act 2004(UK)) of such an employer. 

(e)        6Use of Plan Assets. No Borrower uses “plan assets” (within the meaning of 29
CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments. 

9.1.11        Disclosure. The Parent Borrower has disclosed to Agent and the
Lenders all agreements, instruments and corporate or other restrictions to which the Parent Borrower or any of its Subsidiaries is subject, and all other matters known to any of them, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. None of the other reports, financial statements, certificates or other information furnished by or on behalf of any Obligor to Agent or any Lender in connection with the negotiation of the Original
Loan Agreement, this Agreement or any other Loan Document or delivered hereunder or thereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Parent Borrower represents only that such information was
prepared in good faith based upon assumptions believed to be reasonable at the time such projections were prepared. 

9.1.12        Subsidiaries. The Parent Borrower does not have any subsidiaries
other than the other Obligors and the Subsidiaries of the other Obligors. Schedule 9.1.12 sets forth the name of, and the ownership interest of the Parent Borrower in, each Subsidiary of the Parent Borrower and identifies each Subsidiary that
is an Obligor, in each case as of the Closing Date. 
 9.1.13        Insurance. Schedule
9.1.13 sets forth a description of all material insurance policies maintained by or on behalf of the Parent Borrower and the Subsidiaries as of the Closing Date. As of the Closing Date, all premiums due in respect of such insurance have been
paid. 
 9.1.14        Labor Matters. As of the Closing Date, there are no
strikes, lockouts or slowdowns against the Parent Borrower or any Subsidiary pending or, to the knowledge of the Parent Borrower, threatened that could reasonably be expected to have a Material Adverse Effect. All payments due from the Parent
Borrower or any Subsidiary, or for which any claim may be made against the Parent Borrower or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of
the Parent Borrower or such Subsidiary except for those which, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. The consummation of the Transactions will not give rise to any right of termination
or right of renegotiation on the part of any union under any collective bargaining agreement to which the Parent Borrower or any Subsidiary is bound. 
  

 
 6 Added per Third Amendment. 

  
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 9.1.15         Solvency.
Immediately after the consummation of the Transactions to occur on the Closing Date and immediately following the making of each Loan made on the Closing Date and after giving effect to the application of the proceeds of such Loans, (a) the
fair value of the assets of each Obligor, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or otherwise, (b) the present fair saleable value of the property of each Obligor will be greater than the amount
that will be required to pay the probable liability of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured, (c) each Obligor will be able to pay its debts and
liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured or fall due and (d) the Obligors, on a consolidated basis, will not have unreasonably small capital with which to conduct the business
in which it is engaged as such business is now conducted and is proposed to be conducted following the Closing Date. 

9.1.16        Senior Indebtedness. The Obligations constitute “Senior Debt”, however
defined, under the terms of any Debt that is subordinated in right of payment to the Obligations. 

9.1.17        Security Documents. 

(a)        Canadian Security Documents. 

(i)        The Foreign Facility Guarantee and Collateral
Agreement, the Canadian Security Agreement and each Deed of Movable Hypothec is effective to create in favor of Agent, for the benefit of the Canadian Facility Secured Parties, a legal, valid and enforceable security interest in the
Collateral described therein and (A) in respect of any such Collateral in which a security interest can be perfected by control or possession, such Collateral has been delivered to Agent, in its capacity as agent for the Foreign Facility
Secured Parties solely for the purpose of perfecting the security interest granted to Agent in such Collateral, and for so long as Agent remains in control or possession of such Collateral, the security interest in such Collateral created by the
Foreign Facility Guarantee and Collateral Agreement, the Canadian Security Agreement and each Deed of Movable Hypothec shall constitute a perfected first priority security interest in all right, title and interest of the pledgor thereunder in such
Collateral, in each case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 10.2.2 and (B) in respect of such Collateral in which a security interest can be perfected by the filing
of a UCC or PPSA financing statement or a hypothec registration in accordance with the Civil Code, financing statements and registrations, as applicable, in appropriate form have been filed or registered in the offices specified on Schedule 1.04 to
the Perfection Certificate most recently delivered to Agent, and the security interests created by the Foreign Facility Guarantee and Collateral Agreement, the Canadian Security Agreement and each Deed of Movable Hypothec constitute perfected
security interests in all right, title and interest of the grantors thereunder in such Collateral, in each case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 10.2.2. 

(ii)        [Reserved]. 

(iii)       The Canadian Security Agreement (or a summary thereof) will
within ten (10) days of the Closing Date be filed in the Canadian Intellectual Property Office and each other intellectual property registration office where same has been filed, the financing statements and registrations referred to in
Section 9.1.17(a)(i)(B) above have been appropriately filed and registered and each security interest created by the Foreign Facility Guarantee and Collateral Agreement, the Canadian Security Agreement

  
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 and each Deed of Movable Hypothec constitutes or will constitute a perfected
security interest in all right, title and interest of the grantors thereunder in the Intellectual Property in which a security interest may be perfected by filing, recording or registering a security agreement, financing statement or analogous
document in the Canadian Intellectual Property Office and each other intellectual property registration office where same has been filed, in each case prior and superior in right to any other Person (it being understood that subsequent recordings in
the Canadian Intellectual Property Office and each other intellectual property registration office where same has been filed and subsequent PPSA filings may be necessary to better evidence or perfect a Lien on registered Intellectual Property
acquired by the Obligors after the Closing Date), other than with respect to Liens permitted by Section 10.2.2. 

(iv)        Each Canadian Mortgage, upon execution and delivery
thereof by the parties thereto, is effective to create, subject to the exceptions listed in each title insurance policy covering such Mortgage, in favor of and reasonably satisfactory to Agent, for the benefit of the Canadian Facility Secured
Parties, a legal, valid and enforceable Lien on all of the applicable mortgagor’s right, title and interest in and to the Real Estate thereunder and the proceeds thereof, and when the Canadian Mortgages are filed in the appropriate offices, the
Lien created by each Canadian Mortgage shall constitute a perfected Lien on all right, title and interest of the applicable mortgagor in such Real Estate and the proceeds thereof, in each case prior and superior in right to any other Person, other
than with respect to the rights of Persons pursuant to Liens permitted by Section 10.2.2. 

(b)        UK and Dutch Security Documents. 

(i)        Each Dutch Security Document is effective to create in
favor of Agent, for the benefit of the Foreign Facility Secured Parties, a legal, valid and enforceable security interest in the Collateral described in such Dutch Security Document. 

(ii)       Each UK Security Agreement is effective to create in favor of
the UK Security Trustee, for the benefit of the Foreign Facility Secured Parties, a legal, valid and enforceable security interest in the “Security Assets” (as defined in the UK Security Agreements). 

(iii)      Under the law of each Obligor’s jurisdiction of incorporation or
organization it is not necessary that any UK Security Document be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar Tax be paid on or in relation to any UK Security Document
or the transactions contemplated by any UK Security Document, except (a) registration of particulars of each UK Security Document granted by a UK Domiciled Obligor at the Companies Registration Office in England and Wales in accordance with
Part 25 (Company Charges) of the Companies Act 2006 (UK) or any regulations relating to the registration of charges made under, or applying the provisions of, the Companies Act 2006 (UK), (b) filing, registration or recordation on a voluntary
basis or as required in order to perfect the security interest created by any UK Security Document in any relevant jurisdiction and (c) in each case, payment of associated fees, stamp Taxes or mortgage duties. 

  
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 (iv)      Each UK Domiciled
Obligor’s payment obligations under the Loan Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. 

(v)        Each UK Security Document has or will have the ranking in
priority which it is expressed to have in the relevant UK Security Document and, other than as permitted under or contemplated by the Loan Documents, it is not subject to any prior ranking or pari passu ranking Lien. 

(c)        U.S. Security Documents. 

(i)        The Guarantee and Collateral Agreement is effective to
create in favor of Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in the “Pledged Collateral” (as defined in the Guarantee and Collateral Agreement) and, in respect of such Pledged
Collateral in which a security interest can be perfected by control, such Collateral has been delivered to Agent or the
Controlling Term Loan Agent, in its capacity as agent for Agent solely for the purpose of perfecting the security interest granted to Agent in such Collateral, and for so long as Agent or the
Controlling Term Loan Agent, as applicable, remains in control of such
Collateral, the security interest in such “Pledged Collateral” created by the Guarantee and Collateral Agreement shall constitute a perfected junior priority security interest (subordinate only to the security interests under the Senior Term Loan Documents and the Term Loan Documents) in all right, title and
interest of the pledgor thereunder in such “Pledged Collateral”, in each case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 10.2.2 and subject to the Intercreditor
Agreement. 
 (ii)       The Guarantee and Collateral Agreement is
effective to create in favor of Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in the “Collateral” other than the “Pledged Collateral” (in each case as defined in the Guarantee and
Collateral Agreement) and, in respect of such Collateral in which a security interest can be perfected by the filing of a UCC financing statement, financing statements in appropriate form have been filed in the offices specified on Schedule 1.04 to
the Perfection Certificate most recently delivered to Agent, and the security interest created by the Guarantee and Collateral Agreement constituted a perfected security interest in all right, title and interest of the grantors thereunder in such
Collateral (other than the Intellectual Property), in each case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 10.2.2 and subject to the Intercreditor Agreement. 

(iii)       The Guarantee and Collateral Agreement (or a summary thereof)
has been filed in the United States Patent and Trademark Office and the United States Copyright Office, the financing statements referred to in Section 9.1.17(c)(ii) above have been appropriately filed and the security interest created
by the Guarantee and Collateral Agreement constitutes a perfected security interest in all right, title and interest of the grantors thereunder in the Intellectual Property in which a security interest may be perfected by filing, recording or
registering a security agreement, financing statement or analogous document in the United States Patent and Trademark Office or the United States Copyright Office, as applicable, in each case prior and superior in right to any other Person (it being
understood that subsequent recordings in the United States Patent 

  
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 and Trademark Office and the United States Copyright Office and subsequent
UCC filings may be necessary to perfect a lien on registered trademarks, trademark applications and copyrights acquired by the Obligors after the Original Closing Date), other than with respect to Liens permitted by Section 10.2.2 and
subject to the Intercreditor Agreement. 
 (iv)       Each Mortgage, upon
execution and delivery thereof by the parties thereto, is effective to create, subject to the exceptions listed in each title insurance policy covering such Mortgage, in favor of and reasonably satisfactory to Agent, for the benefit of the Secured
Parties, a legal, valid and enforceable Lien on all of the applicable mortgagor’s right, title and interest in and to the Real Estate thereunder and the proceeds thereof, and when the Mortgages are filed in the appropriate offices, the Lien
created by each Mortgage shall constitute a perfected Lien on all right, title and interest of the applicable mortgagor in such Real Estate and the proceeds thereof, in each case prior and superior in right to any other Person, other than with
respect to the rights of Persons pursuant to Liens permitted by Section 10.2.2 and subject to the Intercreditor Agreement. 

(v)       The information set forth in the Schedules to the Guarantee and
Collateral Agreement is true, complete and correct as of the Closing Date. 

(d)        Mexican Security Documents. 

(i)        Each Mexican Security Document is effective to create in
favor of Agent, for the benefit of the Foreign Facility Secured Parties, a legal, valid and enforceable security interest in the “Pledged Assets (Bienes Pignorados)” (as defined in the corresponding Mexican Security Document). 

(ii)       When each Mexican Security Document has been filed in the RUG
and IMPI, if applicable, the security interest created therein will constitute a perfected security interest in all right, title and interest of the grantors thereunder in the Collateral described therein, including but not limited to Equipment,
Inventory and Intellectual Property in which a security interest may be perfected by filing, recording or registering a security agreement, in the RUG and IMPI, as applicable, in each case prior and superior in right to any other Person. 

Each provision of this Section 9.1.17 shall be subject to any applicable limitation set forth in the applicable
Security Documents. 
 9.1.18        Federal Reserve
Regulations. 
 (a)        Neither the Parent Borrower nor any of any
Obligor’s Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 

(b)        No part of the proceeds of any Revolver Loan or any Letter
of Credit will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of the provisions of the regulations of the Board, including Regulation U or X. 

  
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 9.1.19        Anti-Corruption
Laws and Sanctions. The Parent Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Parent Borrower, its Subsidiaries and their respective directors, officers, employees and agents with
Anti-Corruption Laws and applicable Sanctions, and the Parent Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of the Parent Borrower its directors and agents, are in compliance with Anti-Corruption Laws
and applicable Sanctions in all material respects. None of (a) the Parent Borrower, any Subsidiary of any Obligor or any of their respective directors, officers or employees, or (b) to the knowledge of the Parent Borrower, any agent of the
Parent Borrower or any Subsidiary of any Obligor that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No Borrowing or Letter of Credit, use of proceeds or other transaction
contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 

9.1.20        Accounts. Agent may rely, in determining which Accounts are Eligible Accounts, on
all statements and representations made by Borrowers with respect thereto. Borrowers warrant, with respect to each Account shown as an Eligible Account in a Borrowing Base Report, that: 

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

 (b)        it arises out of a completed, bona fide sale and delivery of
goods in the Ordinary Course of Business, and substantially in accordance with any purchase order, contract or other document relating thereto; 

(c)        it is for a sum certain, maturing as stated in the applicable invoice, a
copy of which has been furnished or is available to Agent on request; 

(d)        it is not subject to any offset, Lien (other than Permitted
Encumbrances and Liens permitted under Sections 10.2.2(a) and 10.2.2(r) (in each case provided that no such Permitted Encumbrance or Lien permitted under Section 10.2.2(a) or Section 10.2.2(r) is prior to
the Lien of Agent or the applicable Security Trustee, unless an Availability Reserve is in effect with respect thereto)), deduction, defense, dispute, counterclaim or other adverse condition except as arising in the Ordinary Course of Business and
disclosed to Agent; and it is absolutely owing by the Account Debtor, without contingency in any respect; 

(e)        no purchase order, agreement or Applicable Law restricts assignment of the
Account to Agent (regardless of whether, under the UCC, the PPSA, the Civil Code or other Applicable Law, the restriction is ineffective), and the applicable Borrower is the sole payee or remittance party shown on the invoice; 

(f)        no extension, compromise, settlement, modification, credit,
deduction or return has been authorized or is in process with respect to the Account, except discounts or allowances granted in the Ordinary Course of Business for prompt payment that are reflected on the face of the invoice related thereto and in
the reports submitted to Agent hereunder; and 
 (g)        to
Borrowers’ knowledge, without investigation, (i) there are no facts or circumstances that are reasonably likely to impair the enforceability or collectability of such Account; (ii) the Account Debtor had the capacity to contract when
the Account arose, continues to meet the applicable Borrower’s customary credit standards, is Solvent, is not contemplating or subject to an Insolvency Proceeding, and has not failed, or suspended or ceased doing business; and (iii) there
are no proceedings or actions threatened or pending against any Account Debtor that could reasonably be expected to have a material adverse effect on the Account Debtor’s financial condition. 

  
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 9.1.21        [Reserved.]

 9.1.22        Centre of Main Interests and Establishments. For the
purposes of The Council of the European Union regulation No. 1346/2000 on Insolvency Proceedings (the “CMI Regulation”), each of the UK Domiciled Obligors’ centre of main interest (as that term is used in Article 3(1) of
the CMI Regulation) is situated in its jurisdiction of incorporation and none of them have an “establishment” (as that term is used in Article 2(h) of the CMI Regulation) in any other jurisdiction. 

9.1.23        Material Contracts. Schedule 9.1.23 hereto sets forth for
each Obligor, as of the Closing Date, a list of all of the material contracts and agreements to which such Obligor is a party, including, without limitation, all Specified Vendor Receivables Financing Documents (other than agreements disclosed to
Agent pursuant to Section 10.1.2(h), agreements relating to Debt described on Schedule 10.2.1, real property leases identified on Schedule 2.03 to the Perfection Certificate delivered to Agent on the Closing Date, and Licenses
identified on Schedule 4.04 to the Perfection Certificate delivered to Agent on the Closing Date). 

9.1.24        Trade Relations. To the Obligors’ knowledge, there exists no
actual or threatened termination, limitation or adverse modification of any business relationship between any Obligor or Subsidiary and any customer or supplier, or any group of customers or suppliers, who individually or in the aggregate are
material to the business of such Obligor or Subsidiary, except for those which, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. To the Obligors’ knowledge, there exists no condition or
circumstance that could reasonably be expected to impair the ability of any Obligor or Subsidiary to conduct its business at any time hereafter in substantially the same manner as conducted on the Original Closing Date. 

9.1.25        Payable Practices. No Obligor or Subsidiary has made any material
change in its historical accounts payable practices from those in effect on the Original Closing Date. 

9.1.26        Spin-Off. The Spin-Off was consummated on the Original Closing
Date in accordance with Applicable Law and the Spin-Off Documentation (without giving effect to any modification or waiver of any provisions of, or any consent given in respect of, the Spin-Off Documentation not approved by Agent). 

9.1.27        EEA Financial Institution. No Obligor is an EEA Financial
Institution. 
 SECTION 10 

COVENANTS AND CONTINUING AGREEMENTS 

10.1        Affirmative Covenants. On and after the Closing Date and
until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees and expenses payable hereunder have been paid in full and all Letters of Credit have expired, terminated or been Cash Collateralized and all
unpaid drawings under any Letters of Credit shall have been reimbursed, each Obligor shall, and shall cause each Subsidiary to: 

10.1.1        Inspections; Appraisals. 

(a)        Permit Agent from time to time, subject to reasonable
notice and normal business hours, to visit and inspect the Properties of any Obligor or Subsidiary, inspect, audit and make extracts from any Obligor’s or Subsidiary’s books and records, and discuss with its officers, employees, agents,
advisors and independent accountants such Obligor’s or Subsidiary’s 

  
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 business, financial condition, assets, prospects and results of operations.
Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to any Obligor to make any inspection, nor to share any results of any inspection, appraisal or report with any Obligor.
Obligors acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Obligors shall not be entitled to rely upon them. Notwithstanding anything to the contrary herein, no Obligor or Subsidiary
shall be required to disclose, permit the inspection, examination or making of copies of, or discuss any document, information, or other matter (A) that constitutes non-financial trade secrets or non-financial proprietary information of any
Obligor or Subsidiary and/or any of its customers and/or suppliers, (B) in respect of which disclosure to Agent or any Lender (or any of their respective representatives or contractors) is prohibited by Applicable Law, (C) that is subject
to attorney-client or similar privilege or constitutes attorney work product or (D) in respect of which any Obligor or Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations were not entered
into in contemplation of the requirements of this Section 10.1.1(a)) and disclosure to Agent, any Lender or any Issuing Bank is prohibited notwithstanding the confidentiality obligations set forth in Section 14.12
unless Agent, Lenders and Issuing Banks agree to be bound by such additional confidentiality obligations with respect to such confidential information as may be reasonably requested by the Obligors and/or such third party to permit such
disclosure. 
 (b)        Reimburse Agent for all charges, costs and
expenses of Agent in connection with (i) examinations of any Obligor’s books and records or any other financial or Collateral matters as Agent deems appropriate, up to one time per Loan Year (or up to two times per Loan Year during a
Reporting Trigger Period); and (ii) appraisals of any Obligor’s Inventory up to one time per Loan Year (or up to two times per Loan Year during a Reporting Trigger Period); provided, however, that if an examination or
appraisal is initiated during a Default or Event of Default, all charges, costs and expenses relating thereto shall be reimbursed by Obligors without regard to such limits. Obligors agree to pay Agent’s then standard charges for examination
activities, including charges for Agent’s internal examination and appraisal groups, as well as the charges of any third party used for such purposes. 

10.1.2        Financial and Other Information. Keep adequate records and books of account with
respect to its business activities, in which proper entries are made in accordance with GAAP reflecting all financial transactions, and furnish to Agent and Lenders: 

(a)        within 90 days after the end of each Fiscal Year of Parent
Borrower, its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous Fiscal
Year, all reported on by Deloitte & Touche LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception (except for any such qualification or
exception resulting from any current maturity of Loans hereunder) and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the
financial condition and results of operations of Parent Borrower and its consolidated subsidiaries on a consolidated basis in accordance with GAAP consistently applied (it being understood that the obligation to furnish the foregoing to Agent and
the Lenders shall be deemed to be satisfied in respect of any Fiscal Year of Parent Borrower by the filing of Parent Borrower’ annual report on Form 10-K for such Fiscal Year with the Commission to the extent the foregoing are included
therein); 

  
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 (b)        within 45
days after the end of each of the first three Fiscal Quarters of each Fiscal Year of Parent Borrower, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such Fiscal
Quarter and the then elapsed portion of the Fiscal Year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous Fiscal Year, all
certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of Parent Borrower and its consolidated subsidiaries on a consolidated basis in accordance with GAAP
consistently applied, subject to normal year-end audit adjustments and the absence of footnotes (it being understood that the obligation to furnish the foregoing to Agent and the Lenders shall be deemed to be satisfied in respect of any Fiscal
Quarter of Parent Borrower by the filing of Parent Borrower’s quarterly report on Form 10-Q for such Fiscal Quarter with the Commission to the extent the foregoing are included therein); 

(c)        during any Reporting Trigger Period, as soon as available,
and in any event within 30 days after the end of each month, unaudited balance sheets as of the end of such month and the related statements of income and cash flow for such month and for the portion of the Fiscal Year then elapsed, on a
consolidated basis for Obligors and their Subsidiaries and on a consolidating basis for each Obligor, from the Obligors’ internal operating statements (which are not intended to be prepared in accordance with GAAP), certified by a Financial
Officer of Parent Borrower as fairly presenting the financial position and results of operations for such month; 

(d)        concurrently with delivery of financial statements under
clauses (a), (b) and (c) above, or more frequently if requested by Agent while a Default or Event of Default exists, a Compliance Certificate executed by a Financial Officer of the Parent Borrower which, inter alia shall (i) certify
as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) set forth reasonably detailed calculations demonstrating compliance with the
financial covenant set forth in Section 10.3 (whether or not a Financial Covenant Trigger Period is in effect), (iii) state whether any change in GAAP or in the application thereof has occurred since the date of Parent
Borrower’s audited financial statements referred to in Section 9.1.4 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate and (iv) identify all
Subsidiaries existing on the date of such certificate and indicate, for each such Subsidiary, whether such Subsidiary is an Obligor and/or a Foreign Subsidiary and/or an Immaterial Subsidiary and whether such Subsidiary was formed or acquired since
the end of the previous Fiscal Quarter; 
 (e)        7promptly following any request therefor, provide information
and documentation reasonably requested by Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act, the Beneficial
Ownership Regulation, and the AML Legislation; 
 (f)        not later than
February 15 of each Fiscal Year, projections of Borrowers’ consolidated balance sheets, results of operations, cash flow, Total Availability and each component of Total Availability for such Fiscal Year, quarter by quarter; 

 
  

7 Added per Third Amendment. 

  
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 (g)        at
Agent’s request, a listing of each Borrower’s trade payables, specifying the trade creditor and balance due, and a detailed trade payable aging, all in form reasonably satisfactory to Agent; 

(h)        promptly after the same become publicly available, copies
of all periodic and other reports, proxy statements and other materials filed by the Parent Borrower or any Subsidiary with the Commission or with any national securities exchange, as the case may be (it being understood that the obligation to
furnish the foregoing to Agent and the Lenders shall be deemed to be satisfied to the extent the foregoing are filed with the Commission); 

(i)        promptly upon Obligors’ receipt thereof,
(A) copies of all material compliance reports filed and material correspondence regarding any active or pending investigation or enforcement action concerning any Obligor with any state, federal, local or foreign regulatory agency and
(B) all material correspondence, if any, alleging violation of or requesting compliance by any Obligor with laws, regulations, etc. or requests for information pursuant to interstate commerce laws, antitrust laws, securities laws, worker safety
laws (OSHA), etc.; 
 (j)        except to the extent already provided for in this
Section 10.1.2, promptly after the sending thereof, copies of any proposed waiver, consent, or amendment concerning any of
the Senior Term Loan Documents and/or the Term Loan Documents; 

(k)        promptly upon the effectiveness thereof, (A) a
description of each license from a Governmental Authority which becomes effective after the Closing Date and is material to the conduct of the business of the Obligors and their respective Subsidiaries, taken as a whole, and (B) a description
of each material contract or agreement to which any Obligor is a party, including, without limitation, each Specified Vendor Receivables Financing Document (other than contracts and agreements disclosed to Agent pursuant to
Section 10.1.2(h), agreements described on Schedule 9.1.23 or Schedule 10.2.1, and without duplication of real property leases identified on Schedule 2.03 to the Perfection Certificate most recently delivered to Agent and
Licenses identified on Schedule 4.04 to the Perfection Certificate most recently delivered to Agent); 

(l)        prior to any sale, transfer or other disposition of
Revolver Priority Collateral in an aggregate amount in excess of $5,000,000 in reliance on Section 10.2.5(j), Borrowers shall deliver to Agent a Borrowing Base Report, in form and substance acceptable to Agent in all respects, showing
that, after giving pro forma effect to such disposition, no Overadvance exists, Canadian Revolver Usage does not exceed the Canadian Borrowing Base, UK Revolver Usage does not exceed the UK Borrowing Base, U.S. Revolver Usage does not exceed the
U.S. Borrowing Base and Total Revolver Usage does not exceed the Total Borrowing Base; and 

(m)       such other reports and information (financial or otherwise) as Agent may
reasonably request from time to time in connection with any Collateral or any Borrower’s, Subsidiary’s or other Obligor’s financial condition or business. 

Each Obligor represents and warrants that it and each of its Subsidiaries either (i) has no registered or publicly traded
securities outstanding or (ii) files its financial statements with the Commission and/or makes its financial statements available to potential holders of its 144A securities, and, accordingly, each Borrower hereby (x) authorizes Agent to
make the financial statements to be provided under Section 10.1.2(a) and (b) above, along with the Loan Documents, available to all Lenders and (y) agrees that at 

  
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the time such financial statements are provided hereunder, they shall already have been made available to holders of its securities. The Obligor will not request that any other material be posted
to all Lenders without expressly representing and warranting to Agent in writing that (A) such materials do not constitute material non-public information within the meaning of the federal securities laws (“MNPI”) or (B)
(i) the Parent Borrower and its Subsidiaries have no outstanding publicly traded securities, including 144A securities, and (ii) if at any time the Parent Borrower or any of its Subsidiaries issues publicly traded securities, including
144A securities, the Obligors will, following the issuance of such securities, make such materials that do constitute MNPI at the time of issuance of such securities publicly available by press release or public filing with the Commission. 

10.1.3        Notices. 

(a)        Notify Agent and Lenders in writing, promptly after an
Obligor’s obtaining knowledge thereof, of any of the following that affects an Obligor: (i) the commencement of any proceeding or investigation, whether or not covered by insurance, if an adverse determination could reasonably be expected
to result in a Material Adverse Effect; (ii) any pending or threatened labor dispute, strike or walkout, or the expiration of any material labor contract; (iii) any default under or termination of a Material Agreement; (iv) the
existence of any Default or Event of Default; (v) any judgment for the payment of money in an aggregate amount exceeding $2,500,000 that remains undischarged for a period of 30 consecutive days, during which execution is not effectively stayed,
or the occurrence of any action legally taken by a judgment creditor to attach or levy upon assets in order to enforce any such judgment; (vi) the assertion of any Intellectual Property Claim, if an adverse resolution could have a Material
Adverse Effect; (vii) any violation or asserted violation of any Applicable Law (including ERISA, PBA, OSHA, FLSA, or any Environmental Laws), if an adverse resolution could have a Material Adverse Effect; (viii) any Release by an Obligor
or with respect to any Real Estate owned, leased or occupied by an Obligor; or receipt of any Environmental Notice, in each case where the expected remedial costs or liability is reasonably expected to exceed $2,500,000; (ix) the occurrence of
any ERISA Event or Termination Event that, alone or together with any other ERISA Events or Termination Events that have occurred, could reasonably be expected to result in liability of the Parent Borrower and its Subsidiaries in an aggregate amount
exceeding $10,000,000; (x) the discharge of or any withdrawal or resignation by Obligors’ independent accountants; (xi) any material audit of any Obligor with any federal, state, provincial, local or foreign tax authority; or
(xii) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect. Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer
of the Parent Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

(b)        [Reserved.] 

(c)        Each year, within 90 days after the end of each Fiscal Year
of Parent Borrower, Parent Borrower (on behalf of itself and the other Obligors) shall deliver to Agent a certificate of a Financial Officer of Parent Borrower (i) setting forth the information required pursuant to the Perfection Certificate or
confirming that there has been no change in such information since the date of the Perfection Certificate delivered on the Closing Date or the date of the most recent Perfection Certificate delivered pursuant to this Section and (ii) certifying
that all UCC and PPSA financing statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations, including all refilings, rerecordings and reregistrations, containing a description of the Collateral
have been filed of record in each 

  
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governmental, municipal or other appropriate office in each jurisdiction identified pursuant to clause (i) above to the extent necessary to protect and perfect the security interests under
the Security Documents for a period of not less than 18 months after the date of such certificate (except as noted therein with respect to any continuation statements to be filed within such period). 

10.1.4        Landlord and Storage Agreements. Upon request, provide Agent with
copies of all existing agreements, and promptly after execution thereof provide Agent with copies of all future agreements, between an Obligor and any landlord, warehouseman, processor, shipper, bailee or other Person that owns any premises at which
any Collateral may be kept or that otherwise may possess or handle any Collateral. 

10.1.5        Compliance with Laws. Each of the Obligors will, and will cause
each of the Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect. Each Obligor will maintain in effect and enforce policies and procedures designed to ensure compliance by such Obligor, its Subsidiaries and their respective directors, officers, employees and agents with
Anti-Corruption Laws and applicable Sanctions. 
 10.1.6        Payment of
Obligations. Each of the Obligors will, and will cause each of the Subsidiaries to, pay its Debt and other obligations, including Tax liabilities, before the same shall become delinquent or in default, except (a) those being contested in
good faith by appropriate proceedings and for which such Obligor or such Subsidiary, as applicable, has set aside on its books adequate reserves with respect thereto in accordance with GAAP, or (b) to the extent the failure to make payment
could not reasonably be expected to result in a Material Adverse Effect; provided that no amounts received from any Obligor shall be applied to Excluded Swap Obligations of such Obligor. 

10.1.7        Insurance. Each of the Obligors will, and will cause each of the
Subsidiaries to, maintain insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar
locations, except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect. Such insurance shall be maintained with financially sound and reputable insurance companies, except that a portion of such
insurance program (not to exceed that which is customary in the case of companies engaged in the same or similar business or having similar properties similarly situated) may be effected through self-insurance; provided adequate reserves
therefor, in accordance with GAAP, are maintained. In addition, each of the Obligors will, and will cause each of its Subsidiaries to, maintain all insurance required to be maintained pursuant to the Security Documents. With respect to each
Mortgaged Property that is located in an area determined by the Federal Emergency Management Agency to have special flood hazards, the applicable Obligor will maintain, with financially sound and reputable insurance companies, such flood insurance
as is required under Applicable Law, including Regulation H of the Board of Governors. The Parent Borrower will furnish to the Lenders, upon request of Agent, information in reasonable detail as to the insurance so maintained. All insurance policies
or certificates (or certified copies thereof) with respect to such insurance shall be endorsed to Agent’s reasonable satisfaction for the benefit of the Lenders (including by naming Agent as lender loss payee, as appropriate). 

10.1.8        Existence; Conduct of Business. 

(a)        Each of the Obligors will, and will cause each of the
Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its 

  
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 legal existence and the rights, licenses, permits, privileges, franchises,
patents, copyrights, trademarks and trade names the loss of which would have a Material Adverse Effect; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under
Section 10.2.3 or disposition permitted under Section 10.2.5. 

(b)        The Parent Borrower will cause all the Equity Interests of
each Subsidiary which is a Borrower to be owned, directly or indirectly, by the Parent Borrower or any Subsidiary. 

10.1.9        Future Subsidiaries; Further Assurances. 

(a)        If any additional Subsidiary is formed or acquired after
the Original Closing Date, the Parent Borrower will, within five Business Days after such Subsidiary is formed or acquired, notify Agent and the Lenders thereof and, within 30 days (or such longer period as may be agreed to by Agent) after any such
Subsidiary that is organized, incorporated or formed in the same jurisdiction or country as any member of any then-existing Obligor Group (each, a “Permitted Jurisdiction”; as of the Closing Date, the Permitted Jurisdictions include
the United States, the United Kingdom, Canada, the Netherlands, and Mexico and any state, province, territory or other jurisdiction of any of the foregoing countries; Permitted Jurisdictions will be deemed to include, without limitation, the
jurisdiction or country of each New Borrower) is formed or acquired, cause each applicable Collateral and Guarantee Requirement to be satisfied with respect to such Subsidiary, including with respect to any Equity Interest in or Debt of such
Subsidiary owned by or on behalf of any Obligor, including delivery of such legal opinions, in form and substance satisfactory to Agent, as it shall deem appropriate in its Permitted Discretion. For the avoidance of doubt, notwithstanding anything
herein or in the other Loan Documents to the contrary, no action in any jurisdiction that is not a Permitted Jurisdiction or required by the Laws of any jurisdiction that is not a Permitted Jurisdiction shall be required in order to create any
security interests in assets located, titled, registered or filed outside of a Permitted Jurisdiction or to perfect such security interests (it being understood that there shall be no security agreement or pledge agreement governed by the Laws of
any jurisdiction that is not a Permitted Jurisdiction). Agent may grant extensions of time for the perfection of security interests in particular assets and the delivery of assets and Security Documents (other than U.S. Security Documents) or any
other compliance with the requirements of this Section 10.1.9 where it reasonably determines, in consultation with the Borrower Agent, that perfection or compliance cannot be accomplished without undue effort or expense by the time or
times at which it would otherwise be required by this Agreement or such Security Documents. For the avoidance of doubt, no additional Subsidiary that is formed or acquired after the Original Closing Date that is not a U.S. Subsidiary Obligor shall
be subject to the U.S. Facility Collateral and Guarantee Requirement. 

(b)        Each of the Obligors will 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, Lien registrations, fixture filings, mortgages, deeds of trust, landlord waivers and other documents), which may
be required under any Applicable Law, or which Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the Obligors. The Obligors also agree to provide
to Agent, from time to time upon request, evidence reasonably satisfactory to Agent as to the perfection and priority of the Liens created or intended to be created by the Security Documents. 

  
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 (c)        If any
assets (including any real property or improvements thereto or any interest therein) having a book value or fair market value of
(a) $500,000 or more in the aggregate during the Senior Term Period or
(b) $5,000,000 or more in the aggregate at any other time are acquired by any Obligor after the Closing Date or through the acquisition of a Subsidiary Obligor or through the conversion of a Subsidiary into a Subsidiary Obligor (other than, in each case, assets
constituting Collateral under any Security Document that become subject to the Lien of such Security Document upon acquisition thereof), the Parent Borrower or, if applicable, the relevant Subsidiary Obligor will notify Agent and the Lenders
thereof, and, if reasonably requested by Agent or the Required Lenders, the Parent Borrower will cause such assets to be subjected to a Lien securing all Obligations of the Obligor Group of which the Obligor which is the direct owner of such
Subsidiary Obligor is a member and will take, and cause the Subsidiary Obligors to take, such actions as shall be necessary or reasonably requested by Agent to grant and perfect such Liens, including actions described in paragraph (b) of this
Section, all at the expense of the Obligors. 

(d)        Any Subsidiary that is organized in any jurisdiction
approved by Agent and Lenders, but is not a Canadian Subsidiary, UK Subsidiary or U.S. Subsidiary, may, at the election of the Borrower Agent and with the written approval of Agent and Lenders, become a Foreign Borrower hereunder (such Subsidiary, a
“New Borrower”) upon (i) the execution and delivery to Agent and/or Security Trustees (A) by the Persons required to be parties thereto (including, with respect to the amendment of this Agreement, in accordance with
Section 14.1.1) of an amendment and joinder to this Agreement and the other applicable Loan Documents, together with supplements to the applicable Loan Documents executed by such New Borrower and any other Person required by the terms of
such Loan Documents to be party to such supplement, which may, if agreed to by Borrower Agent and Agent, provide for the addition to this Agreement of additional agreed security principals and for any appropriate modification to the tax gross-up
provisions (including the definition of the Excluded Taxes) to reflect the withholding tax rules in the applicable new jurisdiction(s), all in form and substance acceptable to Agent in all respects, (B) by such New Borrower of Security
Documents in form and substance satisfactory to Agent and any relevant Security Trustee as may be required for the relevant jurisdiction (provided that, to the extent appropriate with respect to such jurisdiction, any such new Security Document
shall be in substantially the same form as any comparable Security Document to which any similarly-situated existing Obligor is party) and satisfaction of requirements substantially the same as the Collateral and Guarantee Requirement of the other
Foreign Borrowers, modified as appropriate with respect to the relevant jurisdiction, (C) by an executive officer or Financial Officer of such New Borrower (and other Obligors, to the extent reasonably requested by Agent) of a completed
Perfection Certificate dated as of the date that the joinder of such New Borrower to the applicable Loan Documents is effective (with respect to such New Borrower, the “Joinder Date”), together with all attachments contemplated
thereby, including without limitation the results of a search of the relevant Lien-related filings made with respect to such New Borrower in the jurisdictions contemplated by such Perfection Certificate and copies of the financing statements (or
similar documents) disclosed by such search and evidence reasonably satisfactory to Agent that the Liens indicated by such financing statements (or similar documents) are permitted by Section 10.2.2 or have been released or will be
released pursuant to appropriate release documentation delivered to Agent, (D) by Borrower Agent of a Borrowing Base Report incorporating such New Borrower as of the most recent month ending at least 15 days prior to the Joinder Date,
(E) by a knowledgeable Senior Officer of such New Borrower of a certificate of the type described in Section 6.1(e), (F) by a duly authorized officer of such New Borrower of a certificate of the type described in
Section 6.1(f), together with all attachments thereto (including, without limitation, items that are the applicable jurisdictional 

  
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equivalent of those referred to in Section 6.1(h)), (G) by a knowledgeable Senior Officer of Borrower Agent, a certificate, in form and substance reasonably satisfactory to
Agent, certifying that, after giving effect to the joinder of such New Borrower on the Joinder Date and any Loan or Letter of Credit to be extended or issued to or on behalf of the New Borrower on such date, no Default exists and the representations
and warranties set forth in Section 9 are true and correct and (H) such other documents, instruments and agreements as Agent may reasonably require; (ii) Agent’s receipt of duly executed agreements establishing and/or
evidencing each Dominion Account and related lockbox and each Controlled Account of such New Borrower, each in form and substance, and with financial institutions, satisfactory to Agent; (iii) Agent’s receipt of a written opinion of
counsel to such New Borrower, as well as any local counsel to such New Borrower or Agent, in form and substance satisfactory to Agent; (iv) to the extent not previously delivered to Agent, Agent’s receipt of copies of policies or
certificates of insurance for the insurance policies carried by such New Borrower, together with a loss payable endorsement naming Agent as loss payee and reasonably acceptable to Agent, all in compliance with the Loan Documents; (v) the
completion of Agent’s business, legal and financial due diligence (it being understood that examinations and appraisals conducted pursuant to this clause (v) shall not be included in the limits on the number of examinations or appraisals
provided in Section 10.1.1) with respect to such New Borrower, with results satisfactory to Agent, and Agent’s and the Applicable Lenders’ (for purposes of this clause (v), the Applicable Lenders being the Lenders that will
provide a Commitment to such New Borrower) receipt of all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the
Patriot Act; (vi) Agent’s receipt of payoff or release letters, in form and substance satisfactory to Agent, confirming that such New Borrower is released from all obligations under any Debt not expressly permitted by this Agreement and
providing a release of all of the Liens existing with respect to any such Debt in and to the assets of such New Borrower, together with termination statements and other documentation evidencing the termination of any such Liens in and to the
properties and assets of such New Borrower and (vii) payment by Borrowers of all fees and expenses to be paid to Agent and/or the Lenders under the Loan Documents on or prior to the Joinder Date. 

(e)        Each provision of the Section 10.1.9 shall be subject to any
applicable limitation set forth in the applicable Security Documents and the Agreed Security Principles. 

10.1.10        Casualty and Condemnation. The Parent Borrower (a) will
furnish to Agent and the Lenders prompt written notice of casualty or other insured damage to any material portion of any Collateral having a book value or fair market value of $1,000,000 or more or the commencement of any action or proceeding for
the taking of any Collateral having a book value or fair market value of $1,000,000 or more or any part thereof or interest therein under power of eminent domain or by condemnation or similar proceeding and (b) will ensure that the Net Proceeds
of any such event (whether in the form of insurance proceeds, condemnation awards or otherwise) are collected and applied in accordance with the applicable provisions of this Agreement, the Security Documents and the Intercreditor Agreement. 

10.1.11        Canadian Pension Plans and UK Pension Plans. 

(a)        Promptly after any Canadian Domiciled Obligor or any
Affiliate knows or has reason to know of the occurrence of any of the following events, the applicable Canadian Domiciled Obligor will deliver to Agent a certificate of a Senior Officer of the applicable Canadian Domiciled Obligor setting forth
details as to such occurrence and the action, if any, that such Canadian Domiciled Obligor or such Affiliate is required or proposes to take, together with 

  
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any notices (required, proposed or otherwise) given to or filed with or by such Canadian Domiciled Obligor, such Affiliate, the FSCO, a Canadian Employee Plan participant (other than notices
relating to an individual participant’s benefits) or the Canadian Employee Plan administrator with respect to any violation or asserted violation of any Applicable Law (including the PBA) or the occurrence of any Termination Event. 

(b)        Each Canadian Domiciled Obligor’s and its
Subsidiaries’ Canadian Pension Plans shall be duly registered and administered in all respects in material compliance with, as applicable, the PBA, the Income Tax Act (Canada) and all other Applicable Laws (including regulations, orders and
directives), and the terms of the Canadian Pension Plans and any agreements relating thereto. Each Canadian Domiciled Obligor shall ensure that it and its Subsidiaries: (i) have no Unfunded Current Liability in respect of any Canadian Pension
Plan, including any Canadian Pension Plan to be established and administered by it or them; (ii) pay all amounts required to be paid by it or them in respect of such Canadian Pension Plan when due; (iii) have no Lien on any of its or their
property that arises or exists in respect of any Canadian Pension Plan except as disclosed in Schedule 10.2.2; (iv) do not engage in a prohibited transaction or breach any applicable laws with respect to any Canadian Pension Plan that
could reasonably be expected to result in a Material Adverse Effect in respect of such Canadian Pension Plan; (v) do not permit to occur or continue any Termination Event; and (vi) not maintain, contribute or have any liability in respect
of a Canadian Pension Plan which provides benefits on a defined benefit basis during the term of this Agreement. 

(d)        Each UK Domiciled Obligor shall ensure that all pension
schemes operated by or maintained for the benefit of members of the UK Domiciled Obligors and/or any of their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) and that no
action or omission (including, without limitation, the termination or commencement of winding-up proceedings of any such pension scheme or any UK Domiciled Obligor ceasing to employ any member of such a pension scheme) is taken by any UK Domiciled
Obligor in relation to such a pension scheme which has or is reasonably likely to have a Material Adverse Effect. 

(e)        Each UK Domiciled Obligor shall ensure that no UK Domiciled
Obligor is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004 (UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993 (UK))
or “connected” with or an “associate” of (as those terms are used in sections 38 or 43 of the Pensions Act 2004 (UK)) such an employer. 

(f)        Each UK Domiciled Obligor shall deliver to Agent at such
times as those reports are prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to the UK Domiciled Obligor), actuarial reports in relation to all
pension schemes mentioned in paragraph (c) above. 

(g)        Each UK Domiciled Obligor shall promptly notify Agent of
any material change in the rate of contributions to any pension schemes mentioned in (c) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise). 

10.1.12        Maintenance of Properties. Each of the Obligors will, and will cause each of the
Subsidiaries to, keep and maintain all property material to the conduct of their business, taken as a whole, in good working order and condition, ordinary wear and tear excepted; provided that the foregoing

  
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shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 10.2.3 or disposition permitted under Section 10.2.5. 

10.1.13        Use of Proceeds and Letters of Credit. The proceeds of the
Revolver Loans will be used only for general corporate purposes and Permitted Acquisitions. Letters of Credit will be available only for general corporate purposes. No part of the proceeds of any Revolver Loan will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the regulations of the Board, including Regulations T, U and X. 

10.1.14        Banking Relationships; Controlled Accounts; Deposit and Security
Accounts. Within ninety (90) days of the Original Closing Date and continuing thereafter, each of the U.S. Domiciled Obligors will, and will cause each of the U.S. Subsidiaries to, maintain Bank of America or Wells Fargo Bank as
their principal depository bank, including for the maintenance of operating and depository accounts, administration and services, funds transfer services, information reporting services, and other Cash Management Services. All Controlled Accounts of
the UK Domiciled Obligors shall be held in the United States. Each of the Obligors will cause all of their Deposit Accounts and Securities Accounts that do not constitute Excluded Accounts to be maintained in jurisdictions (and in no event in any
jurisdiction that is not a Permitted Jurisdiction) and with banks or other financial institutions such that such Deposit Accounts and Securities Accounts may be subject to Deposit Account Control Agreements or Securities Account Control Agreements,
as applicable, to the extent required by the Loan Documents without giving effect to the Agreed Security Principles (except with respect to the following, to which the Agreed Securities Principles will apply: (a) Deposit Accounts and Securities
Accounts maintained by a UK Domiciled Obligor in the United Kingdom, to the extent permitted to be maintained in such country pursuant to this Section 10.1.14, (b) Deposit Accounts and Securities Accounts maintained by a Mexican
Domiciled Obligor in Mexico and (c) Securities Accounts maintained by a Canadian Domiciled Obligor in Canada). 

10.1.15        Post-Closing Deliverables. The Obligors shall deliver, or cause
to be delivered, the following items to Agent, in each case in form and substance satisfactory to Agent and its counsel, and/or cause the following to occur, in each case on or before expiration of the respective specified time periods, in each case
as extended in writing by Agent in the sole discretion of Agent: 
 (a)  No later than twenty
(20) Business Days after the Closing Date (i) an amendment to the Intercreditor Agreement, executed and delivered by Agent and Term Loan Agent, (ii) an amendment to the Guarantee and Collateral Agreement, executed and delivered by
Agent and the U.S. Obligors, and (iii) a copy of an amendment to the Guarantee and Collateral Agreement (as defined in the Term Loan Agreement), executed by the Term Loan Agent and the U.S. Obligors. 

(b)  No later than twenty (20) Business Days after the Closing Date, a certificate of a duly
authorized officer of Parent Borrower certifying that an attached copy of resolutions of the applicable governing body of Parent Borrower authorizing execution and delivery of the Loan Documents is true and complete, and that such resolutions are in
full force and effect, were duly adopted, have not been amended, modified or revoked, and, together with the resolutions delivered by the Parent Borrower pursuant to Section 6 of the Original Loan Agreement, constitute all resolutions adopted
with respect to this credit facility. Upon receipt thereof, Agent may conclusively rely on such certificate until it is otherwise notified by the applicable Obligor in writing. 

(c)  No later than twenty (20) Business Days after the Closing Date, an amendment to the
Limited Liability Company Agreement of Horizon International Holdings 

  
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LLC, a Delaware limited liability company, certified by a duly authorized officer thereof, to permit Agent and its assignees to exercise all voting, management, economic and other membership
rights under such Limited Liability Company Agreement, as amended, in connection with the enforcement and/or transfer of its rights and/or interests in the Equity Interests in Horizon International Holdings LLC pledged to Agent, in each case to the
extent such enforcement and/or transfer is permitted by the Loan Documents. 
 (d)  No later than twenty
(20) Business Days after the Closing Date, evidence that all direct and indirect Subsidiaries of the Parent Borrower are insureds under the insurance policies set forth on Schedule 9.1.13. 

(e)  No later than sixty (60) Business Days after the Closing Date (provided that if Obligors
are unable to comply with this covenant within such time period after exercising commercially reasonable efforts, Obligors shall be automatically granted an additional sixty (60) Business Day period to comply with this covenant so long as
Obligors continue to exercise commercially reasonable efforts to complete the same), evidence, in form and substance satisfactory to Agent, that the Liens on the assets of Cequent Performance in favor of Heller Financial Inc. have been released,
together with, in each case unless Cequent Performance (in its reasonable business judgment) and Agent shall reasonably determine that such Trademark is in no way material to the conduct of Cequent Performance’s business, a release of the
interest of Heller Financial Inc. in Trademarks “Hidden Hitch Logo — TMA582876”, “Pyramid, Hitchball & Design — TMA317445” and “Hidden Hitch — TMA390183” of Cequent Performance and evidence that
filings appropriate to evidence the release of such Liens have been properly filed with the Canadian Intellectual Property Office. 

(f)        Not later than thirty (30) days following the Closing
Date, in each case unless Cequent Performance or Cequent Consumer, as applicable and in its reasonable business judgment, and Agent shall reasonably determine that the applicable Patent or Trademark is in no way material to the conduct of Cequent
Performance’s or Cequent Consumer’s business, as applicable, cause to be filed with the PTO an update to the Owner Name to reflect the proper Obligor (Cequent Consumer Products, Inc. or Cequent Performance Products, Inc.) as owner for each
of the following Patents and Trademarks and provide evidence of filing of the same to Agent: (i) adjustable enclosure and mounting box for a trailer hitch electrical connector (Reg. # 6,076,691) (currently assigned to Mascotech, Inc.);
(ii) trailer hitch with load adjustment (Reg. # 6,722,682) (current owner is Hidden Hitch International); and (iii) sealed multiple-contact electrical connector (Reg. # 6,338,644) (current owner is Theodore Bargman, Inc. D/B/A The Bargman
Company). 

(g)  
      Each Obligor will and will case each other Obligor to satisfy the post-closing conditions
described in Schedule I to the Fourth Amendment within the timelines set forth therein. 

Except with respect to the extension of the deadline from that set forth in the Post-Closing Agreement referred to below with
respect to the deliverables required by clause (f) of this Section 10.1.15, this Section 10.1.15 does not amend or modify, or waive or release any obligation under, that certain Post-Closing Agreement, dated as of the
Original Closing Date, by and among the U.S. Borrowers, the Lenders party thereto, and Agent, as such Post-Closing Agreement may be amended, restated, supplemented or otherwise modified from time to time in accordance with its terms. 

  
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 10.1.16        Retention of Consultant. The Obligors shall
continue to retain Brian Whittman of Alvarez & Marsal as a consultant to and as an officer of the Borrowers for a period ending no sooner than March 31, 2019. 

10.2    Negative Covenants. On and after the Closing Date and until the Commitments have
expired or terminated and the principal of and interest on each Loan and all fees and expenses payable hereunder have been paid in full and all Letters of Credit have expired, terminated or been Cash Collateralized and all unpaid drawings under any
Letters of Credit shall have been reimbursed, each Obligor covenants and agrees with the Lenders that: 

10.2.1        Debt; Certain Equity Securities. 

(a)        None of the Obligors will, nor will they permit any
Subsidiary to, create, incur, assume or permit to exist any Debt or obligations under Hedging Agreements, except (and provided,
however, that during the Senior Term Period no additional arrangements for Debt described in clauses (i)(B), (ii), (iii)(B), (iv), (vii), (viii), (ix), (x), (xii), (xiii) or (xx) below may be incurred by any Obligor or any
Subsidiary): 

(i)        (A) Debt created under the Loan Documents, (B) any
Term Loan Debt and, (C) any Permitted Term Loan Refinancing Debt and (D) Senior Term Loan
Debt; 
 (ii)       (A)
financings in respect of sales of accounts receivable by a Foreign Subsidiary permitted by Section 10.2.5(c)(i), (B) the Specified Vendor Receivables Financing and (C) the Specified Vendor Payables Financing; 

(iii)      
(A) Debt existing on the Original Closing Date and set forth in Schedule
10.2.1 and (B) extensions, renewals and replacements of any such
Debt that do not increase the outstanding principal amount as specified on such Schedule 10.2.1 or result in an earlier maturity date or decreased weighted average life thereof; 

(iv)       Permitted Unsecured Debt of the Parent Borrower; provided
that the Net Leverage Ratio (disregarding the proceeds of such Permitted Unsecured Debt in calculating Unrestricted Domestic Cash), on a pro forma basis after giving effect to the incurrence of such Permitted Unsecured Debt (and any related
repayment of Debt) and recomputed as of the last day of the most recently ended Fiscal Quarter of the Parent Borrower for which financial statements are available, as if such incurrence (and any related repayment of Debt) had occurred on the first
day of the relevant period is no greater than 4.00 to 1.00; 

(v)        Debt of the Parent Borrower to any Subsidiary and of any
Subsidiary to the Parent Borrower or any other Subsidiary; provided that Debt of any Subsidiary that is not a U.S. Obligor to the Parent Borrower or any Subsidiary Obligor shall be subject to Section 10.2.4; 

(vi)       Guarantees by the Parent Borrower of Debt of any Subsidiary and
by any Subsidiary of Debt of the Parent Borrower or any other Subsidiary; provided that Guarantees by the Parent Borrower or any Subsidiary Obligor of Debt of any Subsidiary that is not a U.S. Obligor shall be subject to Section
10.2.4; 

  
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 (vii)    Guarantees by the Parent
Borrower or any Subsidiary, as the case may be, in respect of (A) the Term Loan Debt, (B) any Permitted Term Loan Refinancing Debt, or (C) any Permitted Unsecured Debt or (D) Senior Term Loan Debt; provided that none of the Parent Borrower or any Subsidiary, as the case may be, shall Guarantee such Debt unless it also has Guaranteed the Obligations pursuant to a Guaranty; 

(viii)    Debt of the Parent Borrower or any Subsidiary incurred to finance the
acquisition, construction or improvement of any fixed or capital assets, including Capital Lease Obligations and any Debt assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition
thereof, and extensions, renewals and replacements of any such Debt that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof; provided that (A) such
Debt is incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal amount of Debt permitted by this clause (viii)shall not exceed $20,000,000 at any time
outstanding; 
 (ix)      Debt arising as a result of an Acquisition Lease
Financing or any other sale and leaseback transaction permitted under Section 10.2.6; 

(x)       Debt of any Person that becomes a Subsidiary after the Original
Closing Date; provided that (A) such Debt exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (B) the aggregate principal amount of
Debt permitted by this clause (x) shall not exceed $25,000,000 at any time outstanding, less the liquidation value of any outstanding Assumed Preferred Stock; 

(xi)      Debt of the Parent Borrower or any Subsidiary in respect of
workers’ compensation claims, self-insurance obligations, performance bonds, surety appeal or similar bonds and completion guarantees provided by the Parent Borrower and the Subsidiaries in the ordinary course of their business; 

(xii)      other unsecured Debt of the Parent Borrower or any Subsidiary in an
aggregate principal amount not exceeding $15,000,000 at any time outstanding, less the liquidation value of any applicable Qualified Parent Borrower Preferred Stock issued and outstanding pursuant to clause (b) of the definition of Qualified
Parent Borrower Preferred Stock; 
 (xiii)     secured Debt in an aggregate amount not exceeding
$50,000,000 at any time outstanding, in each case in respect of Debt of Foreign Subsidiaries (exclusive of any Debt of Foreign Subsidiaries arising under the Loan Documents); 

(xiv)     Debt arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the Ordinary Course of Business; provided, however, that such Debt is extinguished within ten days of
incurrence; 
 (xv)       Debt arising in connection with endorsement of instruments for
deposit in the Ordinary Course of Business; 

  
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 (xvi)     Debt incurred in connection with the
financing of insurance premiums in an aggregate amount at any time outstanding not to exceed the premiums owed under such policy, if applicable; 

(xvii)    contingent obligations to financial institutions, in each case to the extent in
the Ordinary Course of Business and on terms and conditions which are within the general parameters customary in the banking industry, entered into to obtain cash management services or deposit account overdraft protection services (in an amount
similar to those offered for comparable services in the financial industry) or other services in connection with the management or opening of deposit accounts or incurred as a result of endorsement of negotiable instruments for deposit or collection
purposes and other customary, contingent obligations of the Parent Borrower and its Subsidiaries incurred in the Ordinary Course of Business; 

(xviii)   unsecured guarantees by the Parent Borrower or any Subsidiary Obligor of facility
leases of any Obligor; 
 (xix)     obligations of the Parent Borrower or any
Subsidiary Obligor under Hedging Agreements permitted under Section 10.2.7 with respect to (A) any Permitted Bond Hedge Transaction, (B) any Permitted Warrant Transaction and/or interest rates, foreign currency exchange rates
or commodity prices, in each case not entered into for speculative purposes; provided that if such Hedging Agreements relate to interest rates, (i) such Hedging Agreements relate to payment obligations on Debt otherwise permitted to be
incurred by the Loan Documents and (ii) the notional principal amount of such Hedging Agreements at the time incurred does not exceed the principal amount of the Debt to which such Hedging Agreements relate; 

(xx)     Alternative Incremental Debt; provided that the aggregate principal amount
of any Alternative Incremental Debt established on any date shall not exceed (i) (together with the aggregate amount of all Incremental Term Commitments established on such date in reliance on the Base Incremental Amount) an amount equal to the
Base Incremental Amount on such date and (ii) an additional amount subject to the Maximum Alternative Incremental Debt Amount as of such date; 

(xxi)     Debt arising under a declaration of joint and several liability used for the purpose of
section 2:403 of the Dutch Civil Code (and any residual liability under such declaration arising pursuant to section 2:404(2) of the Dutch Civil Code); 

(xxii)    any Capital Lease Obligations of a Person that becomes a Subsidiary pursuant to
the Westfalia Acquisition; provided that (A) such Capital Lease Obligation exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and
(B) the aggregate principal amount of Debt permitted by this clause (xxii) shall not exceed $15,000,000 at any time outstanding; and 

(xxiii)   any Permitted Convertible Indebtedness and replacements or refinancings thereof in an
aggregate principal amount not to exceed $125 million at the time of issuance; provided that at the time of and immediately after the issuance of such Debt, the Required Conditions are met. 

  
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 (b)        None of
the Obligors will, nor will they permit any Subsidiary to, issue any preferred stock or other preferred Equity Interests, except (i) Qualified Parent Borrower Preferred Stock, (ii) Assumed Preferred Stock and (iii) preferred stock or
preferred Equity Interests held by the Parent Borrower or any Subsidiary (and provided, however, that during the Senior Term Period no
Qualified Parent Borrower Preferred Stock or Assumed Preferred Stock may be issued by the Parent Borrower or any Subsidiary). 

10.2.2        Liens. None of the Obligors will, nor will they permit any
Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except (and provided, however, that during the Senior Term Period no additional Liens described in clauses (a)(iii), (c), (e), (f), (h), (i), (j),
(n) or (r) below may be created, assumed or incurred by the Borrower or any Subsidiary): 

(a)        
(i) Liens created under the Loan Documents, (ii) Liens created under the Term Loan Documents and, (iii) Liens in respect of any Permitted Term Loan Refinancing Debt and (iv) Liens
created under the Senior Term Loan Documents; 

(b)        Permitted Encumbrances; 

(c)        Liens in respect of the Specified Vendor Receivables Financing; 

(d)        any Lien on any property or asset of the Parent Borrower or
any Subsidiary existing on the Original Closing Date and set forth in Schedule 10.2.2; provided that (i) such Lien shall not apply to any other property or asset of the Parent Borrower or any Subsidiary and (ii) such Lien shall
secure only those obligations which it secured on the Original Closing Date and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(e)        any Lien existing on any property or asset prior to the
acquisition thereof by the Parent Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the Original Closing Date prior to the time such Person becomes a Subsidiary; provided that
(i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Parent Borrower or any
Subsidiary and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be; 

(f)        Liens on fixed or capital assets acquired, constructed or
improved by, or in respect of Capital Lease Obligations of, the Parent Borrower or any Subsidiary; provided that (i) such security interests secure Debt permitted by Section 10.2.1(a)(viii), (ii) such security interests and
the Debt secured thereby are incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement, (iii) the Debt secured thereby does not exceed the cost of acquiring, constructing or improving such
fixed or capital assets and (iv) such security interests shall not apply to any other property or assets of the Parent Borrower or any Subsidiary; 

(g)        Liens, with respect to any Mortgaged Property, described in the applicable
schedule of the title policy covering such Mortgaged Property; 

  
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 (h)        Liens in respect of sales
of accounts receivable by Foreign Subsidiaries permitted by Section 10.2.5(c)(i); 

(i)        other Liens securing liabilities permitted hereunder in an aggregate amount
not exceeding (i) in respect of consensual Liens, $5,000,000 and (ii) in respect of all such Liens, $10,000,000, in each case at any time outstanding; 

(j)        Liens in respect of Debt permitted by Section 10.2.1(a)(xiii),
provided that the assets subject to such Liens are not located in the United States; 

(k)        Liens, rights of setoff and other similar Liens existing
solely with respect to cash and Permitted Investments on deposit in one or more accounts maintained by any Lender, in each case granted in the Ordinary Course of Business in favor of such Lender with which such accounts are maintained, securing
amounts owing to such Lender with respect to cash management and operating account arrangements, including those involving pooled accounts and netting arrangements; provided that, unless such Liens are non-consensual and arise by operation of
law, in no case shall any such Liens secure (either directly or indirectly) the repayment of any Debt for Borrowed Money; 

(l)        licenses or sublicenses of Intellectual Property granted by the Parent
Borrower or any Subsidiary in the Ordinary Course of Business and not interfering in any material respect with the ordinary conduct of business of the Parent Borrower or any Subsidiary; 

(m)        the filing of UCC financing statements solely as a precautionary measure in
connection with operating leases or consignment of goods; 
 (n)        Liens for
the benefit of a seller deemed to attach solely to cash earnest money deposits in connection with a letter of intent or acquisition agreement with respect to a Permitted Acquisition; 

(o)        Liens deemed to exist in connection with investments permitted under
Section 10.2.4 that constitute repurchase obligations and in connection with related set-off rights; 

(p)        Liens of a collection bank arising in the Ordinary Course of Business under
Section 4-210 of the UCC in effect in the relevant jurisdiction covering only the items being collected upon; 

(q)        Liens of sellers of goods to the Parent Borrower or any
Subsidiary arising under Article 2 of the UCC in effect in the relevant jurisdiction in the Ordinary Course of Business, covering only the goods sold and covering only the unpaid purchase price for such goods and related expenses; and 

(r)        Liens on Collateral securing Alternative Incremental Debt,
provided that such Alternative Incremental Debt shall be secured only by a Lien on the Collateral having the same priorities in the Term Priority Collateral and the Revolver Priority Collateral as the Term Loan Debt (or on a subordinated
basis) with the Obligations and, in each case, shall be subject to a customary intercreditor agreement in form and substance reasonably satisfactory to Agent. 

  
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 10.2.3        Fundamental
Changes. 
 (a)        None of the Obligors will, nor will they
permit any Subsidiary to merge into or consolidate with any Person, or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing (i) any Subsidiary
may merge into a Borrower in a transaction in which such Borrower is the surviving corporation, (ii) any Subsidiary (other than a Borrower) may merge into any Subsidiary in a transaction in which the surviving entity is a Subsidiary and (if any
party to such merger is a Subsidiary Obligor) is a Subsidiary Obligor for which the Collateral and Guarantee Requirement has been
satisfied and (iii) any Subsidiary (other than a Borrower or Subsidiary Obligor) may liquidate or dissolve if the Parent Borrower determines in good faith that such liquidation or dissolution
is in the best interests of the Parent Borrower and is not materially disadvantageous to the Lenders; provided that any such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be
permitted unless also permitted by Section 10.2.4. Notwithstanding the foregoing, this Section 10.2.3 shall not prohibit any Permitted Acquisition. 

(b)        The Parent Borrower will not, and will not permit any of
its Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Parent Borrower and its Subsidiaries on the date of execution of the Original Loan Agreement and businesses reasonably related
thereto. 
 10.2.4        Investments, Loans, Advances, Guarantees and
Acquisitions. None of the Obligors will, nor will they permit any Subsidiary to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any Equity Interests in or
evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any
investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except (and provided, however, that during the Senior Term Period the Obligors or any Subsidiary may not make an additional purchase, acquisition,
advance, or investment pursuant to any of the clauses (d) (unless consistent with prior practice and in the ordinary course of business), (f), (g), (q), (r) or (s) below):

 (a)        Permitted Investments; 

(b)        investments existing on the Original Closing Date and set
forth on Schedule 10.2.4; 
 (c)        [Reserved]; 

(d)        investments by the Parent Borrower and the Subsidiaries in
their respective Subsidiaries that exist immediately prior to any applicable transaction; provided that (i) any such Equity Interests held by an Obligor shall be pledged pursuant to a Security Document acceptable to Agent, to the extent
required by this Agreement; (ii) investments (excluding any such investments, loans, advances and Guarantees to such Subsidiaries that are assumed and exist on the date any Permitted Acquisition is consummated and that are not made, incurred or
created in contemplation of or in connection with such Permitted Acquisition) by Obligors in, and loans and advances by Obligors to, and Guarantees by Obligors of Debt (or lease obligations) of, Subsidiaries that are not Obligors made after the
Original Closing Date shall only be permitted if, at the time of and after giving effect to such investment, (x) the Required Conditions are met and 

  
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 (y) the aggregate principal amount of any Debt (or lease obligations) of
Subsidiaries that are not Obligors subject to any Guarantee by any Obligor made after the Original Closing Date shall not at any time exceed $40,000,000; 

(e)        loans or advances made by the Parent Borrower to any
Subsidiary and made by any Subsidiary to the Parent Borrower or any other Subsidiary; provided that (i) any such loans and advances made by an Obligor shall be evidenced by a promissory note pledged pursuant to a Security Document and
(ii) any such loans and advances made by Obligors to Subsidiaries that are not Obligors shall only be permitted if, at the time of and after giving effect to such investment, the Required Conditions are met; 

(f)        Guarantees permitted by Section 10.2.1(a)(vii); 

(g)        Guarantees in respect of any Specified Vendor Payables Financing; 

(h)        investments received in connection with the bankruptcy or reorganization
of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the Ordinary Course of Business; 

(i)        any investments in or loans to any other Person received as noncash
consideration for sales, transfers, leases and other dispositions permitted by Section 10.2.5; 

(j)        Guarantees by the Parent Borrower and the Subsidiaries of
leases entered into by any Subsidiary as lessee; provided that such Guarantees made by Obligors to Subsidiaries that are not Obligors shall only be permitted if, at the time of and after giving effect to such investment, the Required
Conditions are met, and the amount of lease obligations which is the subject of any such Guarantees shall be subject to the limitation set forth in clause (d) above; 

(k)        extensions of credit in the nature of accounts receivable or notes
receivable in the Ordinary Course of Business; 
 (l)        loans or advances to
employees made in the Ordinary Course of Business consistent with prudent business practice and not exceeding $2,500,000 in the aggregate outstanding at any one time; 

(m)        investments in the form of Hedging Agreements permitted under Section
10.2.7; 
 (n)        [Reserved]; 

(o)        payroll, travel and similar advances to cover matters that are expected at
the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the Ordinary Course of Business; 

(p)        [Reserved]; 

(q)        investments, loans or advances in addition to those
permitted by the other clauses of this Section 10.2.4 not exceeding in the aggregate $25,000,000 at any time outstanding, provided that no Default exists at the time that such investment, loan or advance is made or is caused thereby;

  
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 (r)        investments made
(i) in an amount not to exceed the Net Proceeds of any issuance of Equity Interests in Parent Borrower issued after the Original Closing Date or (ii) with Equity Interests in Parent Borrower; and 

(s)        other investments by the Parent Borrower or any Subsidiary so long as the
Required Conditions are met. 
 10.2.5        Asset Sales. None of the
Obligors will, nor will they permit any Subsidiary to, sell, transfer, lease or otherwise dispose of any asset, including any Equity Interest owned by it, nor will they permit any Subsidiary to issue any additional Equity Interest in such
Subsidiary, except (and provided, however, that during the Senior Term Period the Obligors or any Subsidiary may not, sell, transfer,
lease or otherwise dispose of any additional asset, including any Equity Interest owned by it, nor will the Obligors permit any Subsidiary to issue any additional Equity Interest in such Subsidiary pursuant to any of the clauses (c), (e),
(f) or (j) below): 

(a)        sales, transfers, leases and other dispositions of inventory, used or
surplus equipment or other obsolete assets, Permitted Investments and investments referred to in Section 10.2.4(h) in the Ordinary Course of Business; 

(b)        sales, transfers and dispositions to the Parent Borrower or a Subsidiary;
provided that any such sales, transfers or dispositions involving a Subsidiary that is not a U.S. Obligor shall be made in compliance with Section 10.2.9; 

(c)        (i) sales of accounts receivable and related assets by a Foreign Subsidiary
pursuant to customary terms whereby recourse and exposure in respect thereof to any Foreign Subsidiary does not exceed at any time $35,000,000 and (ii) sales of accounts receivables and related assets pursuant to the Specified Vendor
Receivables Financing; 
 (d)        the creation of Liens permitted by
Section 10.2.2 and dispositions as a result thereof; 
 (e)        sales
or transfers that are permitted sale and leaseback transactions pursuant to Section 10.2.6; 

(f)        sales and transfers that constitute part of an Acquisition Lease Financing;

 (g)        Restricted Payments permitted by Section 10.2.8; 

(h)        transfers and dispositions constituting investments permitted under
Section 10.2.4; 
 (i)        sales, transfers and other dispositions of
property identified on Schedule 10.2.5 ; and 
 (j)        so
long as no Event of Default shall have occurred and then be continuing, sales, transfers and other dispositions of assets (other than Equity Interests in a Subsidiary) that are not permitted by any other clause of this Section; provided that
the aggregate fair market value of all assets sold, transferred or otherwise disposed of in reliance upon this clause (j) shall not exceed (i) 15% of the aggregate fair market value of all assets of the Parent Borrower (determined as of the end
of its most recent Fiscal Year), including any Equity Interests owned by it, during any Fiscal Year of the Parent Borrower; provided that such amount shall be 

  
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 increased, in respect of the Fiscal Year ending on December 31, 2016,
and each Fiscal Year thereafter by an amount equal to the total unused amount of such permitted sales, transfers and other dispositions for the immediately preceding Fiscal Year (without giving effect to the amount of any unused permitted sales,
transfers and other dispositions that were carried forward to such preceding Fiscal Year) and (ii) 35% of the aggregate fair market value of all assets of the Parent Borrower as of the Original Closing Date, including any Equity Interests owned
by it, during the time subsequent to the Original Closing Date; provided, further, however, that Obligors shall comply with Section 10.1.2(l) concerning any sale, transfer or other disposition of Revolver Priority
Collateral in an aggregate amount in excess of $5,000,000; 
 provided that (x) all sales, transfers, leases and other
dispositions permitted hereby (other than those permitted by clauses (b) or (h) above) shall be made for fair value and (y) all sales, transfers, leases and other dispositions permitted by clauses (i) and (j) above shall be
for at least 75% cash consideration. 
 10.2.6        Sale and Leaseback
Transactions. None of the Obligors will, nor will they permit any Subsidiary to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now
owned or hereinafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred, except, in each case, during the Senior Term Period, for (a) any such sale of any fixed
or capital assets (other than any such transaction to which (b) or (c) below is applicable) that is made for cash consideration in an amount not less than the cost of such fixed or capital asset in an aggregate amount less than or equal to
$10,000,000, so long as the Capital Lease Obligations associated therewith are permitted by Section 10.2.1(a)(viii), (b) in the case of property owned as of or after the Original Closing Date, any such sale of any fixed or capital
assets that is made for cash consideration in an aggregate amount not less than the fair market value of such fixed or capital assets not to exceed $20,000,000 in the aggregate, in each case, so long as the Capital Lease Obligations (if any)
associated therewith are permitted by Section 10.2.1(a)(viii), and (c) any Acquisition Lease Financing. 

10.2.7        Hedging Agreements. None of the Obligors will, nor will
they permit any Subsidiary to, enter into any Hedging Agreement, other than (a) Hedging Agreements entered into in the Ordinary Course of Business and which are not speculative in nature to hedge or mitigate risks to which the Parent Borrower
or any other Subsidiary is exposed in the conduct of its business or the management of its assets or liabilities (including Hedging Agreements that effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating
rate to another floating rate or otherwise)), (b) except during the Senior Term Period, any Permitted Bond Hedge Transaction and (c) except during the Senior Term
Period, any Permitted Warrant Transaction. 

10.2.8        Restricted Payments; Certain Payments of Debt. 

(a)        None of the Obligors will, nor will they permit any
Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so,
except (and provided, however, that the Borrower or any Subsidiary may not during the Senior Term Period declare or make, or agree to
pay or make, directly or indirectly, any Restricted Payment or incur any obligation (contingent or otherwise) to do so pursuant to any of the clauses (iii), (iv), (v), (vi), (vii) or (viii) below): 
 (i)        Parent
Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional Equity Interests in Parent Borrower; 

  
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(ii)        Subsidiaries may declare and pay dividends ratably with
respect to their Equity Interests; 
 (iii)       the Parent Borrower may
(A) use the proceeds of the Term Loan Debt to pay the Original Closing Date Dividend and (B) make other Restricted Payments not exceeding $5,000,000 from and after the Original Closing Date, in each case pursuant to and in accordance with
stock option plans, equity purchase programs or agreements or other benefit plans, in each case for management or employees or former employees of the Parent Borrower and the Subsidiaries; 

(iv)       the Parent Borrower may make other Restricted Payments;
provided that at the time of and immediately after giving effect to such Restricted Payments (and any Debt incurred in connection therewith), the Required Conditions are met; 

(v)        each of the Parent Borrower and Blitz K16-102 GmbH, a
limited liability company organized under the laws of Germany, may pay purchase price adjustments required to be paid by such Person pursuant to the Westfalia Purchase Agreement, without giving effect to any amendment thereto not specifically
described in the definition of “Westfalia Purchase Agreement”; 

(vi)        the Parent Borrower may make any Restricted Payments in respect of
Permitted Convertible Indebtedness permitted under Section 10.2.8(b); 

(vii)       the Parent Borrower may pay the premium in respect of, and otherwise perform
its obligations under, any Permitted Bond Hedge Transaction; and 

(viii)      the Parent Borrower may make any Restricted Payments and/or payments
or deliveries required by the terms of, and otherwise perform its obligations under, any Permitted Warrant Transaction (including, without limitation, making payments and/or deliveries due upon exercise and settlement or termination thereof). 

(b)        None of the Obligors will, nor will they permit any
Subsidiary to, make or agree to pay or make, directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Debt, or any payment or other distribution
(whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Debt, except (and provided, however, that the Borrower or any Subsidiary may not during the Senior Term Period make, or agree to pay or make, directly or
indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Indebtedness, or any payment or other distribution (whether in cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Indebtedness pursuant to any of the clauses (vi), (vii) or (ix) (other than as required to
comply with its obligations as in effect on the Fourth Amendment Effective Date) below): 

(i)         payment of Debt created under the Loan Documents;

 (ii)        payment of regularly scheduled interest and principal payments as and
when due in respect of any Debt, other than payments in respect of subordinated Debt prohibited by the subordination provisions thereof; 

  
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 (iii)      refinancings of Debt to the extent
permitted by Section 10.2.1; 
 (iv)      payment of secured Debt out of the
proceeds of any sale or transfer of the property or assets securing such Debt; 

(v)        [reserved]; 

(vi)       payments of Debt with the Net Proceeds of an issuance of Equity Interests in
Parent Borrower; 
 (vii)      payments of Debt; provided that at the time of and
immediately after giving effect to such payment, the Required Conditions are met; 

(viii)     the Parent Borrower may make any deliveries in shares of common stock (or
other securities or property following a merger event or other change of the common stock of the Parent Borrower so long as any such securities do not constitute Disqualified Equity Interests of an Obligor) in connection with any conversion of any
Permitted Convertible Indebtedness; 
 (ix)       the Parent Borrower may
make any cash payments in lieu of issuing fractional shares in connection with a conversion (including pursuant to any put transaction), exchange, refinancing or extension of any Permitted Convertible Indebtedness; and 

(x)        the Parent Borrower may purchase any Permitted Bond Hedge Transaction and
perform its obligations thereunder. 
 (c)       None of the Obligors
will, nor will they permit any Subsidiary to, enter into or be party to, or make any payment under, any Synthetic Purchase Agreement unless
, in each case except during the Senior Term Period, (i) in the case of any
Synthetic Purchase Agreement related to any Restricted Debt, the payments required to be made by the Parent Borrower or the Subsidiaries thereunder are limited to the amount permitted under Section 10.2.8(b) and (iii) in the case of
any Synthetic Purchase Agreement, the obligations of the Parent Borrower and the Subsidiaries thereunder are subordinated to the Obligations on terms satisfactory to the Required Lenders. 

10.2.9        Transactions with Affiliates. None of the Obligors will,
nor will they permit any Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates,
except: 
 (a)        transactions that are at prices and on terms and conditions
not less favorable to the Parent Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties; 

(b)        transactions between or among the Parent Borrower and the Subsidiaries not
involving any other Affiliate (to the extent not otherwise prohibited by other provisions of this Agreement); 

(c)        any Restricted Payment permitted by Section 10.2.8; and 

  
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(d)        transactions pursuant to agreements in effect on the
Original Closing Date and listed on Schedule 10.2.9 (provided that this clause (d) shall not apply to any extension, or renewal of, or any amendment or modification of such agreements that is less favorable to the Parent Borrower
or the applicable Subsidiaries, as the case may be). 

10.2.10        Restrictive Agreements. None of the Obligors will, nor
will they permit any Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of any Obligor or any Subsidiary to
create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or advances to the
Parent Borrower or any other Subsidiary or to Guarantee Debt of the Parent Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document or any
Specified Vendor Receivables Financing Document, Specified Vendor Payables Financing Document, Senior Term Loan Document or any Term Loan Document that are customary, in the reasonable judgment of the
board of directors thereof, for the market in which such Debt is issued so long as such restrictions do not prevent, impede or impair (x) the creation of Liens and Guarantees in favor of the Lenders under the Loan Documents or (y) the
satisfaction of the obligations of the Obligors under the Loan Documents, (ii) the foregoing shall not apply to restrictions and conditions existing on the Original Closing Date and identified on Schedule 10.2.10 (but shall apply
to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the
sale of a Subsidiary pending such sale; provided, further, that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder and (iv) clause (a) of the foregoing shall
not apply to (A) restrictions or conditions imposed by any agreement relating to secured Debt permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Debt and (B) customary
provisions in leases and other agreements restricting the assignment thereof. 
 10.2.11 Amendment of
Material Documents. None of the Obligors will, nor will they permit any Subsidiary to, amend, restate, modify or waive any of its rights under (a) (i) its certificate of incorporation, by-laws or other organizational documents and/or
(ii) any Material Agreement, Spin-Off Documentation or other agreements (including joint venture agreements) other than the Term Loan Documents, in each case to the extent such amendment, restatement, modification or waiver is adverse to Agent
or Lenders in any material respect (it being agreed that the addition or removal of Obligors from participation in a Specified Vendor Receivables Financing or Specified Vendor Payables Financing shall not constitute an amendment, modification or
waiver of any Specified Vendor Receivables Financing Document or Specified Vendor Payables Financing Document, as applicable, that is adverse to the Lenders), (b) the Term Loan Documents to the extent such amendment, restatement, modification
or waiver (i) results in a maturity date earlier than 91 days following the Latest Maturity Date then in effect with respect to the Obligations, (ii) results in a decreased weighted average life of the Term Loan Debt (other than as a
result of an amendment solely to the final maturity date permitted by clause (i) above), (iii) adds any mandatory prepayment provision or changes any mandatory prepayment provision in a manner that would increase the amount of any mandatory
prepayment of the Term Loan Debt 8(provided, however,
that this clause (iii) shall not restrict the modification to the definition of “ECF Percentage” effected by the Term Loan Agreement Fourth Amendment), (iv) increases the “Applicable Margin” or similar component of
interest thereunder by more than 3.0% (other than as a result of accrual of interest at the default rate), or (v) adds an additional covenant or event of default or makes any covenant or event of default in any Term Loan Document materially
more restrictive or burdensome prior to the Latest Maturity Date then in effect (unless this Agreement is amended to provide all of the Lenders with the 
  

 
 8 Added per Third Amendment. 

  
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benefits of such covenant or event of default), in each case under this clause (v) other than covenants and events of default solely relating to the Term Priority Collateral or (c) the
documents evidencing any Permitted Convertible Indebtedness to the extent such amendment, restatement, modification or waiver (i) results in a maturity date earlier than 91 days following the Latest Maturity Date then in effect with respect to
the Obligations or (ii) adds any required principal amortization or any mandatory prepayment or repurchase provision or changes any mandatory prepayment or repurchase provision in a manner that would increase the amount of any mandatory
prepayment or repurchase obligation in respect of any Permitted Convertible Indebtedness. 

10.2.12        Use of Proceeds. No Borrower will request any Revolver
Loan or Letter of Credit, and no Borrower shall use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Revolver Loan or Letter of Credit (A) in
furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating
any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a Person organized in the United
States, Canada, Mexico or in a European Union member state, or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

10.2.13        Plans. The Obligors will not, and will not permit any Subsidiary to
maintain, sponsor, contribute to or otherwise incur liability or obligations in respect of a Canadian Pension Plan that provides benefits on a defined benefit basis without the prior written consent of Agent. 

10.2.14        Accounting Changes. None of the Obligors will, nor will
they permit any Subsidiary to, make any material change in accounting treatment or reporting practices, except as required by GAAP and in accordance with Section 1.2; or change its Fiscal Year; provided that the Obligors may, upon
written notice to Agent, change their Fiscal Year to another date, in which case the Obligors and Agent will, and are hereby authorized to, many any adjustments to this Agreement that are necessary to reflect such change in Fiscal Year. 

10.3        Financial Covenant.    As long as any
Commitment or Obligation is outstanding, Obligors shall: 
 10.3.1        Fixed
Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio for each 12 month period of at least 1.0 to 1.0 while a Financial Covenant Trigger Period is in effect, measured for the most recent period for which financial statements were
delivered hereunder prior to the Financial Covenant Trigger Period and each period ending thereafter until the Financial Covenant Trigger Period is no longer in effect. 

SECTION 11 
 EVENTS OF
DEFAULT; REMEDIES ON DEFAULT 
 11.1        Events of Default. Each of the
following shall be an “Event of Default” if it occurs for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise: 

(a)        the Borrowers shall fail to (i) pay any principal of
any Loan or any LC Obligation 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 otherwise or (ii) provide Cash Collateral when and as the same shall be required by
Section 2.2.3, 2.3.3 or 2.4.3; 

  
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 (b)        any
Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Section 11.1) payable under this Agreement or any other Loan Document, when and as the same
shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

(c)        any representation or warranty made or deemed made by or on
behalf of any Borrower or any Subsidiary in or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in
connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 

(d)        any Obligor shall fail to observe or perform any covenant,
condition or agreement contained in Section 8.1, 8.2.4, 8.2.5, 8.6.2, 10.1.1, 10.1.2, 10.1.3(a)(iv), 10.1.7, 10.1.8 (with respect to the existence of any Obligor and ownership of the Obligors other than the Parent
Borrower), 10.1.8(b), 10.1.13, 10.1.14, 10.1.15, 10.1.16, Section 10.2 or
Section 10.3 of this Agreement, or, to the extent that such Obligor is a party thereto or otherwise obligated thereby (whether pursuant to the agreement of an Obligor that is party thereto or otherwise), Section 5.13 of the
Guarantee and Collateral Agreement or Section 5.13 of the Foreign Facility Guarantee and Collateral Agreement; 

(e)        any Obligor shall fail to observe or perform any covenant,
condition or agreement contained in any Loan Document, to the extent that such Obligor is a party thereto or otherwise obligated thereby (whether pursuant to the agreement of an Obligor that is party thereto or otherwise) (other than those failures
specified in clause (a), (b) or (d) of this Section 11.1), and such failure shall continue unremedied for a period of 30 days (or, with respect to a failure to observe or perform any covenant, condition or agreement contained
in Section 8 of the Guarantee and Collateral Agreement or Section 8 of the Foreign Facility Guarantee and Collateral Agreement, a period of 15 days) after notice thereof from Agent to the Borrower Agent (which notice will be given at the
request of any Lender); 
 (f)        the Parent Borrower or any
Subsidiary shall fail to make any payment (whether of principal, interest or other payment obligations) in respect of any Material Debt, when and as the same shall become due and payable after giving effect to any applicable grace period with
respect thereto; 
 (g)        any event or condition occurs that
results in any Material Debt becoming due prior to its scheduled maturity or that enables or permits the holder or holders of any Material Debt or any trustee or agent on its or their behalf to cause any Material Debt to become due, or to require
the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Debt that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Debt; provided further that this clause (g) shall not apply to any Permitted Convertible Indebtedness or any Permitted Warrant Transaction to the extent such event or condition occurs as a result of (x) the
satisfaction of a conversion contingency, (y) the exercise by a holder of Permitted Convertible Indebtedness of a conversion right resulting from the satisfaction of a conversion contingency or (z) a required repurchase in respect of any
Permitted Warrant Transaction; 
 (h)        an involuntary
proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, winding-up, reorganization arrangement, a proposal or other 

  
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relief in respect of any Obligor or any Subsidiary or its debts, or of a substantial part of its assets, under any federal, state, provincial or foreign bankruptcy, insolvency, receivership or
similar law now or hereafter in effect or (ii) the appointment of a Creditor Representative or similar official for the Parent Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or
petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i)        the Parent Borrower or any Subsidiary shall
(i) voluntarily commence any proceeding or file any petition seeking liquidation, winding-up, reorganization, arrangement, a proposal or other relief under any federal, state, provincial or foreign bankruptcy, insolvency, receivership or
similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Section, (iii) apply for or consent to the
appointment of a Creditor Representative or similar official for the Parent Borrower or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 

(j)        the Parent Borrower or any Subsidiary shall become unable,
admit in writing in a court proceeding its inability or fail generally to pay its debts as they become due or, with respect to any UK Borrower or UK Subsidiary, (i) it, by reason of actual or anticipated financial difficulties, commences
negotiations with one or more of its creditors with a view to rescheduling any of its Debt (ii) the value of its assets shall become less than the value of its liabilities (taking into account contingent and prospective liabilities) or
(iii) a moratorium or other protection from its creditors is declared or imposed in respect of any its Debt; 

(k)        one or more judgments for the payment of money in an
aggregate amount in excess of $5,000,000 shall be rendered against the Parent Borrower, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be
effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Parent Borrower or any Subsidiary to enforce any such judgment; 

(l)        an ERISA Event shall have occurred that, in the opinion of
the Required Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect on the Parent Borrower and its Subsidiaries; 

(m)        any Lien covering property having a book value or fair
market value of $5,000,000 or more purported to be created under any Security Document shall cease to be, or shall be asserted in writing by any Obligor not to be, a valid and perfected Lien on any Collateral, except (i) as a result of the sale
or other disposition of the applicable Collateral in a transaction permitted under the Loan Documents or (ii) as a result of Agent’s failure to maintain possession (or the failure of Agent’s agent or designee, including without
limitation the Controlling Term Loan Agent, as Agent’s agent for perfection
pursuant to the Intercreditor Agreement, to maintain possession) of any stock certificates, promissory notes or other instruments delivered to it under the Guarantee and Collateral Agreement and/or the Foreign Facility Guarantee and Collateral
Agreement; 
 (n)        any Guaranty shall cease to be, or
shall have been asserted in writing not to be, in full force and effect; 

  
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 (o)        the
Parent Borrower or any Subsidiary shall challenge the subordination provisions of the Subordinated Debt or assert that such provisions are invalid or unenforceable or that the Obligations of any Obligor, or the Obligations of any Subsidiary under
any Guaranty, are not senior Debt under the subordination provisions of the Subordinated Debt, or any court, tribunal or government authority of competent jurisdiction shall judge the subordination provisions of the Subordinated Debt to be invalid
or unenforceable or such Obligations to be not senior Debt under such subordination provisions or otherwise cease to be, or shall be asserted not to be, legal, valid and binding obligations of the parties thereto, enforceable in accordance with
their terms; 
 (p)        a Change in Control shall occur; 

(q)        an Obligor denies or contests the validity or
enforceability of any Loan Document (including, without limitation, the Intercreditor Agreement) or Obligations, or any Loan Document (including, without limitation, the Intercreditor Agreement) ceases to be in full force or effect for any reason
(other than a waiver or release by Agent and Lenders); 

(r)        a loss, theft, damage or destruction occurs with respect to
any Collateral if the amount not covered by insurance exceeds $5,000,000; 

(s)        any event occurs or condition exists that has a Material
Adverse Effect; 
 or 

(t)        (i) a Termination Event occurs or any Canadian
Multi-Employer Plan is terminated, in each case, in circumstances which would result or could reasonably be expected to result in a Canadian Facility Obligor being required to make a contribution to or in respect of a Canadian Pension Plan or a
Canadian Multi-Employer Plan or result in the appointment, by FSCO, of an administrator to wind up a Canadian Pension Plan, (ii) any Canadian Domiciled Obligor is in default with respect to any required contribution to a Canadian Pension Plan,
or (iii) any Lien arises (save for a contribution amount not yet due) in connection with any Canadian Pension Plan; provided, however, that an event or circumstance of the type described in clause (i), (ii) or (iii) shall constitute an
Event of Default under this clause (t) only if such event or circumstance, in the opinion of the Required Lenders, when taken together with all other events and circumstances of the type described in such clauses that have occurred or existed
on or after the Closing Date, could reasonably be expected to result in a Material Adverse Effect (it being acknowledged that, for purposes of this clause (t), funding deficiencies and other benefit liabilities existing as of the Closing Date shall
be included in the determination of whether a Material Adverse Effect has occurred or exists). 
 11.2
        Remedies upon Default. If an Event of Default described in Section 11.1(h) or (i) occurs with respect to any Obligor, then to the extent permitted by Applicable Law,
all Obligations (other than Secured Bank Product Obligations) shall become automatically due and payable and all Commitments shall terminate, without any action by Agent or notice of any kind. In addition, or if any other Event of Default exists,
Agent may in its discretion (and shall upon written direction of Required Lenders) do any one or more of the following from time to time: 

(a)        declare any Obligations (other than Secured Bank Product
Obligations) immediately due and payable, whereupon they shall be due and payable without diligence, presentment, demand, protest or notice of any kind, all of which are hereby waived by Obligors to the fullest extent permitted by law; 

  
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(b)        terminate, reduce or condition any Commitment, or make any
adjustment to any Borrowing Base; 
 (c)        require Obligors to
Cash Collateralize their LC Obligations, Secured Bank Product Obligations and other Obligations that are contingent or not yet due and payable, and if Obligors fail to deposit such Cash Collateral, Agent may (and shall upon the direction of Required
Lenders) advance the required Cash Collateral as Revolver Loans (whether or not an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied); and 

(d)        together with the Security Trustees (as applicable),
exercise any other rights or remedies afforded under any agreement, by law, at equity or otherwise, including the rights and remedies of a secured party under the UCC, PPSA or other similar domestic or foreign statutes. Such rights and remedies
include the rights to (i) take possession of any Collateral; (ii) require Borrowers to assemble Collateral, at Borrowers’ expense, and make it available to Agent and Security Trustees at a place designated by Agent or Security
Trustees (as applicable); (iii) enter any premises where Collateral is located and store Collateral on such premises until sold (and if the premises are owned or leased by an Obligor, Obligors agree not to charge for such storage); and
(iv) sell or otherwise dispose of any Collateral in its then condition, or after any further manufacturing or processing thereof, at public or private sale, with such notice as may be required by Applicable Law, in lots or in bulk, at such
locations, all as Agent or Security Trustees (as applicable), in their discretion, deem advisable. Each Obligor agrees that 10 days’ notice of any proposed sale or other disposition of Collateral by Agent or a Security Trustee shall be
reasonable, and that any sale conducted on the internet or to a Licensor of Intellectual Property shall be commercially reasonable. Agent and Security Trustees may conduct sales on any Obligor’s premises, without charge, and any sale may be
adjourned from time to time in accordance with Applicable Law. Agent and Security Trustees shall have the right to sell, lease or otherwise dispose of any Collateral for cash, credit or any combination thereof, and Agent and/or Security Trustees may
purchase any Collateral at public or, if permitted by law, private sale and, in lieu of actual payment of the purchase price, may credit bid and set off the amount of such price against the Obligations. 

11.3        License. Agent and Security Trustees are hereby granted an
irrevocable, non-exclusive license or other right to use, license or sub-license (without payment of royalty or other compensation to any Person) any or all Intellectual Property of Obligors, computer hardware and software, trade secrets, brochures,
customer lists, promotional and advertising materials, labels, packaging materials and other Property, in advertising for sale, marketing, selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect
to, any Collateral. Each Obligor’s rights and interests under Intellectual Property shall inure to Agent’s and Security Trustees’ benefit. 

11.4        Setoff. At any time during an Event of Default, Agent,
Security Trustees, Issuing Banks, Lenders, and any of their Affiliates are authorized, to the fullest extent permitted by Applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in
whatever currency) at any time held and other obligations (in whatever currency) at any time owing by Agent, such Security Trustee, such Issuing Bank, such Lender or such Affiliate to or for the credit or the account of an Obligor against its
Obligations, whether or not Agent, such Security Trustee, such Issuing Bank, such Lender or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or are
owed to a branch or office of Agent, such Security Trustee, such Issuing Bank, such Lender or such Affiliate different from the branch or office holding such deposit or obligated on such indebtedness. The rights of Agent, each 

  
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Security Trustee, each Issuing Bank, each Lender and each such Affiliate under this Section are in addition to other rights and remedies (including other rights of setoff) that such Person may
have. 
 11.5        Remedies Cumulative; No Waiver. 

11.5.1        Cumulative Rights. All agreements, warranties, guaranties,
indemnities and other undertakings of Obligors under the Loan Documents are cumulative and not in derogation of each other. The rights and remedies of Agent, Security Trustees and Lenders under the Loan Documents are cumulative, may be exercised at
any time and from time to time, concurrently or in any order, and are not exclusive of any other rights or remedies available by agreement, by law, at equity or otherwise. All such rights and remedies shall continue in full force and effect until
Full Payment of all Obligations. 
 11.5.2        Waivers. No waiver or
course of dealing shall be established by (a) the failure or delay of Agent, any Security Trustee or any Lender to require strict performance by any Obligor under any Loan Document, or to exercise any rights or remedies with respect to
Collateral or otherwise; (b) the making of any Loan or issuance of any Letter of Credit during a Default, Event of Default or other failure to satisfy any conditions precedent; or (c) acceptance by Agent, any Security Trustee or any Lender of
any payment or performance by an Obligor under any Loan Documents in a manner other than that specified therein. Any failure to satisfy a financial covenant on a measurement date shall not be cured or remedied by satisfaction of such covenant on a
subsequent date. 
 SECTION 12 

AGENT 

12.1        Appointment, Authority and Duties of Agent. 

12.1.1        Appointment and Authority. 

(a)        Each Secured Party appoints and designates Bank of America
as Agent under all Loan Documents. Agent may, and each Secured Party authorizes Agent to, enter into all Loan Documents to which Agent is intended to be a party and accept all Security Documents. Any action taken by Agent in accordance with the
provisions of the Loan Documents, and the exercise by Agent of any rights or remedies set forth therein, together with all other powers reasonably incidental thereto, shall be authorized by and binding upon all Secured Parties. Without limiting the
generality of the foregoing, Agent, together with the Security Trustees, as applicable, shall have the sole and exclusive authority to (i) act as the disbursing and collecting agent for Lenders with respect to all payments and collections
arising in connection with the Loan Documents; (ii) execute and deliver as Agent each Loan Document, including any intercreditor or subordination agreement, and accept delivery of each Loan Document; (iii) act as collateral agent and
security trustee, as applicable, for Secured Parties for purposes of perfecting and administering Liens under the Loan Documents, and for all other purposes stated therein; (iv) manage, supervise or otherwise deal with Collateral; and
(v) take any Enforcement Action or otherwise exercise any rights or remedies with respect to any Collateral or under any Loan Documents, Applicable Law or otherwise. Agent alone shall be authorized to determine eligibility and applicable
advance rates under any Borrowing Base, whether to impose or release any reserve, or whether any conditions to funding or issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith, shall
exonerate Agent from liability to any Secured Party or other Person for any error in judgment. 

  
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 (b)        In its
capacity as Agent, for the purposes of holding any hypothec granted pursuant to the laws of the Province of Québec, each of the Secured Parties hereby irrevocably appoints and authorizes Agent and, to the extent necessary, ratifies the
appointment and authorization of Agent, to act as the hypothecary representative of the applicable Secured Parties as contemplated under Article 2692 of the Civil Code of Québec, and to enter into, to take and to hold on their behalf, and for
their benefit, any hypothec, and to exercise such powers and duties that are conferred upon Agent under any related Deed of Movable Hypothec. Agent shall have the sole and exclusive right and authority to exercise, except as may be otherwise
specifically restricted by the terms hereof, all rights and remedies given to Agent pursuant to any such Deed of Movable Hypothec and Applicable Law. Any person who becomes a Secured Party shall, by its execution of an Assignment, be deemed to have
consented to and confirmed Agent as the person acting as hypothecary representative holding the aforesaid hypothecs as aforesaid and to have ratified, as of the date it becomes a Secured Party, all actions taken by Agent in such capacity. The
substitution of Agent pursuant to the provisions of this Section 12 also constitutes the substitution of Agent as hypothecary representative as aforesaid. 

12.1.2        Duties. The title of “Agent” is used solely as a matter
of market custom and the duties of Agent are administrative in nature only. Agent has no duties except those expressly set forth in the Loan Documents, and in no event does Agent have any agency, fiduciary or implied duty to or relationship with any
Secured Party or other Person by reason of any Loan Document or related transaction. The conferral upon Agent of any right shall not imply a duty to exercise such right, unless instructed to do so by Lenders in accordance with this Agreement. 

12.1.3        Agent Professionals. Agent may perform its duties through agents
and employees. Agent may consult with and employ Agent Professionals, 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 an Agent Professional. Agent shall not be
responsible for the negligence or misconduct of any agents, employees or Agent Professionals selected by it with reasonable care. 

12.1.4        Instructions of Required Lenders. The rights and remedies
conferred upon Agent under the Loan Documents may be exercised without the necessity of joining any other party, unless required by Applicable Law. In determining compliance with a condition for any action hereunder, including satisfaction of any
condition in Section 6, Agent may presume that the condition is satisfactory to a Secured Party unless Agent has received notice to the contrary from such Secured Party before Agent takes the action. Agent may request instructions from
Required Lenders or other Secured Parties with respect to any act (including the failure to act) in connection with any Loan Documents or Collateral, and may seek assurances to its satisfaction from Secured Parties of their indemnification
obligations against Claims that could be incurred by Agent. Agent may refrain from any act until it has received such instructions or assurances, and shall not incur liability to any Person by reason of so refraining. Instructions of Required
Lenders shall be binding upon all Secured Parties, and no Secured Party shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting pursuant to instructions of Required Lenders. Notwithstanding the
foregoing, instructions by and consent of specific parties shall be required to the extent provided in Section 14.1.1. In no event shall Agent be required to take any action that it determines in its discretion is contrary to Applicable
Law or any Loan Documents or could subject any Agent Indemnitee to liability. 

  
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 12.2        Security
Trustees. 
 12.2.1    Appointment. 

(a)        The Secured Parties hereby appoint the UK Security Trustee
to hold (i) any security interest created by any UK Security Agreement; and (ii) the covenants and undertakings of the relevant UK Security Agreements, with respect to any jurisdiction where the concept of trust is appropriate, in trust for the
Secured Parties and with respect to any jurisdiction where the concept of trust is not appropriate, as security agent for the Secured Parties, and, in each case, the UK Security Trustee accepts that appointment. 

(b)        Each Security Trustee, its subsidiaries and associated companies may each
retain for its own account and benefit any fee, remuneration and profits paid to it in connection with (i) its activities under the Loan Documents and (ii) its engagement in any kind of banking or other business with any Obligor. 

12.2.2    Delegation. Each Security Trustee may delegate to any Person on such terms (which may include the power
to sub-delegate) and subject to such conditions as it thinks fit, all or any of the rights, powers, authorities and discretions vested in it by any of the Loan Documents. 

12.2.3    Separate Security Trustees. 

(a)        Each Security Trustee may (whether for the purpose of
complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with such Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such
terms and subject to such conditions as such Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in such Security Trustee by any Loan Document as may be conferred by the instrument of appointment of
the Appointee. 
 (b)        Each Security Trustee may pay
reasonable remuneration to any Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated, for the
purposes of this Agreement, as paid or incurred by the applicable Security Trustee. 
 12.2.4    The
UK Security Agreements. 
 (a)        Each Secured Party confirms its approval
of the relevant UK Security Agreements and of any security interest intended to be created under it, and authorizes and instructs the UK Security Trustee to execute and deliver the relevant UK Security Agreements. 

(b)        The UK Security Trustee may accept without enquiry the
title (if any) which any Person may have to any assets over which security interest is intended to be created by the relevant UK Security Agreements, and shall not be liable to any other party for any defect in or failure of any such title. 

(c)        The UK Security Trustee shall not be (i) liable or
responsible to any Secured Party for any failure to perfect, protect, register, make any filing or give notice in respect of the security interest intended to be created by the relevant UK Security Agreements, unless that failure arises directly
from its own gross negligence or willful misconduct; (ii) obliged to insure any assets over which security interest is intended to be created by the relevant UK Security 

  
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 Agreements, to require any other person to maintain any such insurance, or
to make any enquiry or conduct any investigation into the legality, validity, effectiveness, adequacy or enforceability of any insurance existing over any such asset; or (iii) obliged to hold in its own possession the relevant UK Security
Agreements, title deed or other document relating to any assets over which security interest is intended to be created by the relevant UK Security Agreements. 

12.2.5    Security Trustee as Proprietor. Each Secured Party confirms that it does not wish to be
registered as a joint proprietor of any mortgage or charge created pursuant to the relevant UK Security Agreements and accordingly (a) authorizes the UK Security Trustee to hold such mortgages and charges in its sole name as trustee for the
relevant Secured Parties; and (b) requests the UK Land Registry (or other relevant registry) to register the UK Security Trustee as a sole proprietor (or heritable creditor, as the case may be) of any such mortgage or charge. 

12.2.6    Investments. Except to the extent that this Agreement or a UK Security Agreement
otherwise requires, any monies received by the UK Security Trustee under or pursuant to a UK Security Agreement may be (a) invested in any investments which it may select and which are authorized by Applicable Law; or (b) placed on deposit
at any bank or institution (including itself) on such terms as it may think fit, in each case in the name or under the control of the UK Security Trustee, and those monies, together with any accrued income (net of any applicable Tax) shall be held
by the UK Security Trustee to the order of Agent, and shall be payable to Agent on demand. 

12.2.7    Secured Parties’ Indemnity to the UK Security Trustee. Each Secured Party shall
indemnify the UK Security Trustee, its delegates and sub-delegates and Appointees (each an “Indemnified Party”), within three (3) Business Days of demand, against any cost, loss or liability incurred by the UK Security Trustee
or the relevant Indemnified Party (otherwise than by reason of the gross negligence or willful misconduct of the UK Security Trustee or that Indemnified Party) in acting as UK Security Trustee or its delegate, sub-delegate or Appointee under the
relevant UK Security Agreements (except to the extent that the UK Security Trustee or the relevant Indemnified Party has been reimbursed by any Obligor pursuant to the relevant UK Security Agreements). 

12.2.8    Conduct of business by the UK Security Trustee. No provision of this Agreement will
(a) interfere with the right of the UK Security Trustee to arrange its affairs (tax or otherwise) in whatever manner it thinks fit; (b) oblige the UK Security Trustee to investigate or claim any credit, relief, remission or repayment
available to it or the extent, order and manner of any claim; or (c) oblige the UK Security Trustee to disclose any information relating to its affairs (tax or otherwise) or any computations in respect of tax. 

12.2.9    Liability of UK Security Trustee. 

(a)        The UK Security Trustee shall not nor shall any of its
officers, employees or agents from time to time be responsible for: (i) the adequacy, accuracy and/or completeness of any information (whether oral or written) supplied by any Obligor or any other person given in or in connection with the
relevant UK Security Agreements; or (ii) the legality, validity, effectiveness, adequacy or enforceability of the relevant UK Security Agreements or any other agreement, arrangement or document entered into, made or executed in anticipation of
or in connection with the relevant UK Security Agreements. 
 (b)        Without
limiting Section 12.2.9(a), the UK Security Trustee shall not be liable for any action taken by it or not taken by it under or in connection with the relevant UK Security Agreements, unless directly caused by its gross negligence or
willful misconduct. 

  
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 (c)        No party
(other than the UK Security Trustee) may take any proceedings against any officer, employee or agent of the UK Security Trustee in respect of any claim it might have against the UK Security Trustee or in respect of any act or omission of any kind by
that officer, employee or agent in relation to the relevant UK Security Agreements and any officer, employee or agent of the UK Security Trustee may rely on this Section 12.2.9 and the provisions of the Contracts (Rights of Third
Parties) Act 1999, as amended. 
 (d)        The UK Security
Trustee shall not be liable for any delay (or any related consequences) in crediting an account with an amount required under the Loan Documents to be paid by the UK Security Trustee, if the UK Security Trustee has taken all necessary steps as soon
as reasonably practicable to comply with the regulations or operating procedures of any recognized clearing or settlement system used by the UK Security Trustee for that purpose. 

(e)        Without affecting the responsibility of the Obligors for
information supplied by them or on their behalf in connection with any Loan Document, each Secured Party confirms to the UK Security Trustee that it has been, and shall continue to be, solely responsible for making its own independent appraisal and
investigation of all risks arising under or in connection with the relevant UK Security Agreements, including but not limited to: (i) the financial condition, status and nature of the Obligors; (ii) the legality, validity, effectiveness,
adequacy or enforceability of the relevant UK Security Agreements and any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with the relevant UK Security Agreements; (iii) whether
such Secured Party has recourse, and the nature and extent of that recourse, against any party or any of its respective assets under or in connection with any Loan Document, the transactions contemplated by the UK Security Agreements or any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with the relevant UK Security Agreements; and (iv) the adequacy, accuracy and/or completeness of any information provided by any person
under or in connection with the relevant UK Security Agreements, the transactions contemplated by the relevant UK Security Agreements or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in
connection with the relevant UK Security Agreements. 
 12.2.10 Other UK Security Agreement Matters. 

(a)        The UK Security Trustee shall accept without
investigation, requisition or objection, such title as any person may have to the assets which are subject to the relevant UK Security Agreements and shall not (i) be bound or concerned to examine or enquire into the title of any person;
(ii) be liable for any defect or failure in the title of any person, whether that defect or failure was known to the UK Security Trustee or might have been discovered upon examination or enquiry and whether capable of remedy or not; or
(iii) be liable for any failure on its part to give notice of the relevant UK Security Agreements to any third party or otherwise perfect or register the security interests created by the relevant UK Security Agreements (unless such failure
arises directly from the UK Security Trustee’s gross negligence or willful misconduct). 

(b)        The UK Security Trustee shall hold the relevant UK Security Agreements and
all proceeds of enforcement of them in trust for the Secured Parties on the terms and conditions of this Agreement. 

(c)        The relevant UK Security Agreements shall rank as continuing security
interest for the discharge of the liabilities secured by it. 

  
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 12.2.11 Disposals. 

(a)        Subject to Section 12.3.1, the UK Security
Trustee is authorized by each of the Secured Parties to execute on behalf of itself and each such Secured Party without the need for any further referral to or authority from such Secured Party, any release of the security interests created by the
relevant UK Security Agreements over that asset and, if such asset comprises all of the shares in any Obligor, the UK Security Trustee is further authorized, without the need for any further referral to or authority from such Secured Party, to
execute a release of any security interests granted by such Obligor over its assets pursuant to any of the UK Security Agreements provided that in each such case the proceeds are applied in the manner provided for in this Agreement as if they
were realizations pursuant to the relevant UK Security Agreements. 

(b)        Each Secured Party undertakes to execute such releases and other documents
as may be necessary to give effect to the releases specified in Section 12.2.11(a). 
 12.2.12 Trust. The perpetuity
period for each trust created by this Agreement shall be 80 years. 
 12.2.13 Appointment and Retirement of UK Security
Trustee. The UK Security Trustee (a) subject to the appointment of a successor (provided that no Default exists, in consultation with the Borrower Agent) may, and must if Agent requires, retire at any time from its position as UK Security
Trustee under the Loan Documents without assigning any reason, and (b) must give notice of its intention to retire by giving to the other Secured Parties and the Borrower Agent not less than 30 days’ nor more than 60 days’ notice.

 12.2.14 Appointment of Successor. Agent may (provided that no Default exists, in consultation with the Borrower
Agent) appoint a successor to the UK Security Trustee, during the period of notice set forth in Section 12.2.13. If no successor is appointed by Agent, the UK Security Trustee may appoint (after consultation with Agent and, provided that
no Default exists, the Borrower Agent) its successor. The Secured Parties shall promptly enter into any agreements that the successor may reasonably require to effect its appointment. 

12.2.15 Discharge of UK Security Trustee. From the date that the appointment of a successor is effected under
Section 12.2.14, the retiring UK Security Trustee must be discharged from any further obligations under the Loan Documents as UK Security Trustee, and the successor to the UK Security Trustee and each of the other Secured Parties have
the same rights and obligations between themselves as they would have had if the successor had been a party to those Loan Documents. 

12.3        Agreements Regarding Collateral and Borrower Materials. 

12.3.1        Lien Releases; Care of Collateral. 

(a)        Canadian Facility Secured Parties hereby authorize Agent
and any Security Trustee to release any Lien with respect to any Canadian Facility Collateral (i) upon Full Payment of the Canadian Facility Obligations; (ii) that is the subject of a disposition or Lien that Borrower Agent certifies in
writing is an asset disposition permitted by Section 10.2.5 or a Permitted Encumbrance entitled to priority over Agent’s or Security Trustees’ Liens, as applicable (and Agent and Security Trustees may rely conclusively on any
such certificate without further inquiry); (iii) that does not constitute a material part of the Canadian Facility Collateral; (iv) that is required to be released pursuant to the terms of any intercreditor agreement pertaining to any
Canadian Facility Collateral; or (v) subject to Section 14.1, with the consent of 

  
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 Required Lenders. Canadian Facility Secured Parties hereby authorize Agent
and Security Trustees to subordinate their Liens to any Purchase Money Lien or other Lien entitled to priority under this Agreement. 

(b)        UK Facility Secured Parties hereby authorize Agent and any
Security Trustee to release any Lien with respect to any UK Facility Collateral (i) upon Full Payment of the UK Facility Obligations; (ii) that is the subject of a disposition or Lien that Borrower Agent certifies in writing is an asset
disposition permitted by Section 10.2.5 or a Permitted Encumbrance entitled to priority over Agent’s or Security Trustees’ Liens, as applicable (and Agent and Security Trustees may rely conclusively on any such certificate
without further inquiry); (iii) that does not constitute a material part of the UK Facility Collateral; (iv) that is required to be released pursuant to the terms of any intercreditor agreement pertaining to any UK Facility Collateral; or
(v) subject to Section 14.1, with the consent of Required Lenders. UK Facility Secured Parties hereby authorize Agent and Security Trustees to subordinate their Liens to any Purchase Money Lien or other Lien entitled to priority
under this Agreement. 
 (c)        U.S. Facility Secured Parties
hereby authorize Agent and any Security Trustee to release any Lien with respect to any U.S. Facility Collateral (i) upon Full Payment of the Obligations; (ii) that is the subject of a disposition or Lien that Borrower Agent certifies in
writing is an asset disposition permitted by Section 10.2.5 or a Permitted Encumbrance entitled to priority over Agent’s or Security Trustees’ Liens, as applicable (and Agent and Security Trustees may rely conclusively on any
such certificate without further inquiry); (iii) that does not constitute a material part of the U.S. Facility Collateral; (iv) that is required to be released pursuant to the terms of the Intercreditor Agreement; or (v) subject to
Section 14.1, with the consent of Required Lenders. The U.S. Facility Secured Parties hereby authorize Agent and Security Trustees to subordinate their Liens to any Purchase Money Lien or other Lien entitled to priority under this
Agreement. 
 (d)        Agent has no obligation to assure that any
Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that 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. 
 (e)        In each case as
specified in this Section 12.3.1, Agent and any Security Trustee will (and each Secured Party authorizes Agent and Security Trustee to), at the Borrowers’ expense, execute and deliver to the applicable Obligor such documents as such
Obligor may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Security Documents or to subordinate its interest in such item, or to release such Guarantor from its
obligations under the Guaranties, in each case in accordance with the terms of the Loan Documents and this Section 12.3.1. This Agreement and the security interest of the Secured Parties in the Collateral provided hereunder shall
terminate upon the Full Payment of the Obligations (other than contingent obligations for indemnification, expense reimbursement, tax gross-up or yield protection in each case as to which no claim has been asserted or is reasonably expected to be
asserted). A Guarantor shall automatically be released from its obligations under the Loan Documents and the security interest of the Secured Parties in the Collateral of such Guarantor shall be automatically released in the event that all the
Equity Interests of such Guarantor shall be sold, transferred or otherwise disposed of to a person that is not an Affiliate of a Borrower in accordance with the terms of this Agreement and the other Loan Documents; provided that the Required
Lenders (or, if required by the terms of this Agreement, such Lenders specified in this Agreement) shall have consented to such sale, transfer or other 

  
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disposition (to the extent required by this Agreement and the other Loan Documents) and the terms of such consent did not provide otherwise. The security interest of the Secured Parties in any
Collateral that is sold, transferred or otherwise disposed of in accordance with this Agreement and the other Loan Documents (including pursuant to a waiver or amendment of the terms hereof) shall automatically terminate and be released, and such
Collateral shall be sold free and clear of the security interest created by the Loan Documents. 

12.3.2        Possession of Collateral. 

(a)        Agent and Canadian Facility Secured Parties hereby appoint
each Canadian Lender as agent (for the benefit of Canadian Facility Secured Parties) for the purpose of perfecting Liens on any Canadian Facility Collateral held or controlled by such Canadian Lender, to the extent such Liens are perfected by
possession or control. 
 (b)        Agent and UK Facility Secured
Parties hereby appoint each UK Lender as agent (for the benefit of UK Facility Secured Parties) for the purpose of perfecting Liens on any UK Facility Collateral held or controlled by such UK Lender, to the extent such Liens are perfected by
possession or control. 
 (c)        Agent and U.S. Facility
Secured Parties hereby appoint each U.S. Lender as agent (for the benefit of U.S. Facility Secured Parties) for the purpose of perfecting Liens on any U.S. Facility Collateral held or controlled by such U.S. Lender, to the extent such Liens are
perfected by possession or control. 
 (d)        If any Lender
obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions. 

12.3.3        Reports. Agent shall promptly provide to each Applicable Lender,
when complete, any field examination, audit or appraisal report prepared for Agent with respect to any Obligor or Collateral (“Report”). Reports and other Borrower Materials may be made available to Lenders by providing access to
them on the Platform, but Agent shall not be responsible for system failures or access issues that may occur from time to time. Each Lender agrees (a) that Reports are not intended to be comprehensive audits or examinations, and that Agent or
any other Person performing an audit or examination will inspect only limited information and will rely significantly upon Borrowers’ books, records and representations; (b) that Agent makes no representation or warranty as to the accuracy
or completeness of any Borrower Materials and shall not be liable for any information contained in or omitted from any Borrower Materials, including any Report; and (c) to keep all Borrower Materials confidential and strictly for such
Lender’s internal use, not to distribute any Report or other Borrower Materials (or the contents thereof) to any Person (except to such Lender’s Participants, attorneys and accountants), and to use all Borrower Materials solely for
administration of the Obligations. Each Lender shall indemnify and hold harmless Agent and any other Person preparing a Report from any action such Lender may take as a result of or any conclusion it may draw from any Borrower Materials, as well as
from any Claims arising as a direct or indirect result of Agent furnishing same to such Lender, via the Platform or otherwise. 

12.4        Reliance By Agent. Agent 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. Agent shall have a reasonable and practicable amount of time to act upon any 

  
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instruction, notice or other communication under any Loan Document, and shall not be liable for any delay in acting. 

12.5        Action Upon Default. Agent shall not be deemed to have
knowledge of any Default or Event of Default, or of any failure to satisfy any conditions in Section 6, unless it has received written notice from Borrower Agent 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 Agent 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 Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations) or assert any rights relating to any Collateral. 

12.6        Ratable Sharing. If any Lender obtains any payment or
reduction of any Obligation, whether through set-off or otherwise, in excess of its ratable share of such Obligation, such Lender shall forthwith purchase from Secured Parties participations in the affected Obligation as are necessary to share the
excess payment or reduction on a Pro Rata basis or in accordance with Section 5.5.2, as applicable. If any of such payment or reduction is thereafter recovered from the purchasing Lender, the purchase shall be rescinded and the purchase
price restored to the extent of such recovery, but without interest. Notwithstanding the foregoing, if a Defaulting Lender obtains a payment or reduction of any Obligation, it shall immediately turn over the full amount thereof to Agent for
application under Section 4.2.2 and it shall provide a written statement to Agent describing the Obligation affected by such payment or reduction. No Lender shall set off against a Controlled Account or a Dominion Account without
Agent’s prior consent. 
 12.7        Indemnification. EACH
SECURED PARTY SHALL INDEMNIFY AND HOLD HARMLESS AGENT INDEMNITEES AND ISSUING BANK INDEMNITEES, TO THE EXTENT NOT REIMBURSED BY OBLIGORS, ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE,
PROVIDED THAT ANY CLAIM AGAINST AN AGENT INDEMNITEE RELATES TO OR ARISES FROM ITS ACTING AS OR FOR AGENT (IN THE CAPACITY OF AGENT). In Agent’s Permitted Discretion, it may reserve for any Claims made against an Agent Indemnitee or Issuing Bank
Indemnitee, and may satisfy any judgment, order or settlement relating thereto, from proceeds of Collateral prior to making any distribution of Collateral proceeds to Secured Parties. If Agent is sued by any Creditor Representative,
debtor-in-possession or other Person for any alleged preference or fraudulent transfer, then any monies paid by 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 Agent by each Secured Party to the extent of its Pro Rata share. 

12.8        Successor Agent and Co-Agents. 

12.8.1        Resignation; Successor Agent. Agent may resign at any time by
giving at least 30 days written notice thereof to Lenders and Borrower Agent. Required Lenders may appoint a successor to replace the resigning Agent, which successor shall be (a) a U.S. Lender or an Affiliate of a U.S. Lender; or (b) a
financial institution that is organized under the laws of the U.S. or any state or district thereof and reasonably acceptable to Required Lenders and (provided no Default exists) Borrower Agent. If no successor agent is appointed prior to the
effective date of Agent’s resignation, then Agent may appoint a successor agent that is a financial institution that is organized under the laws of the U.S. or any state or district thereof and acceptable to Agent (which shall be a Lender
unless no Lender accepts the role) or in the absence of such appointment, Required Lenders shall on such date assume all rights and duties of Agent hereunder. Upon acceptance by any successor Agent of its appointment hereunder, such 

  
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 successor Agent shall thereupon succeed to and become vested with all the powers and duties
of the retiring Agent without further act. On the effective date of its resignation, the retiring Agent shall be discharged from its duties and obligations hereunder but shall continue to have all rights and protections under the Loan Documents with
respect to actions taken or omitted to be taken by it while Agent, including the indemnification set forth in Sections 12.7, 12.17 and 14.2, and all rights and protections under this Section 12. Any successor to Bank
of America by merger or acquisition of stock or this loan shall continue to be Agent hereunder without further act on the part of any Secured Party or Obligor. 

12.8.2        Co-Collateral Agent. It is the intent of the parties that there
shall be no violation of any Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction. If appropriate under Applicable Law (including, without limitation, any situation in which Agent
believes that it may be limited in the exercise of any rights or remedies under the Loan Documents due to any Applicable Law), Agent may appoint a Person to serve as a separate security trustee, co-collateral agent or separate collateral agent under
any Loan Document. Each right, remedy and protection intended to be available to Agent under the Loan Documents shall also be vested in such agent. Secured Parties shall execute and deliver any instrument, agreement or other document that Agent may
request to effect such appointment. If any such separate security trustee, co-collateral agent or separate collateral agent shall die, 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 Agent until appointment of a new agent. 

12.9        Limitation on Responsibilities of Agent. Agent shall not be
liable to any Secured Party for any action taken or omitted to be taken under the Loan Documents, except for losses directly and solely caused by Agent’s gross negligence or willful misconduct. Agent does not assume any responsibility for any
failure or delay in performance or any breach by any Obligor, Lender or other Secured Party of any obligations under the Loan Documents. Agent does not make any express or implied representation, warranty or guarantee to Secured Parties with respect
to any Obligations, Collateral, Liens, Loan Documents or Obligor. No Agent Indemnitee shall be responsible to Secured Parties for any recitals, statements, information, representations or warranties contained in any Loan Documents or Borrower
Materials; the execution, validity, genuineness, effectiveness or enforceability of any Loan Documents; the genuineness, enforceability, collectability, value, sufficiency, location or existence of any Collateral, or the validity, extent, perfection
or priority of any Lien therein; the validity, enforceability or collectability of any Obligations; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any Obligor or Account Debtor.
No Agent Indemnitee shall have any obligation to any Secured Party to ascertain or inquire into the existence of any Default or Event of Default, the observance by any Obligor of any terms of the Loan Documents, or the satisfaction of any conditions
precedent contained in any Loan Documents. 
 12.10        Due Diligence and
Non-Reliance. Each Lender acknowledges and agrees that it has, independently and without reliance upon Agent or any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit
analysis of each Obligor and its own decision to enter into this Agreement and to fund Loans and participate in LC Obligations hereunder. Each Secured Party has made such inquiries as it feels necessary concerning the Loan Documents, Collateral and
Obligors. Each Secured Party acknowledges and agrees that the other Secured Parties have made no representations or warranties concerning any Obligor, any Collateral or the legality, validity, sufficiency or enforceability of any Loan Documents or
Obligations. Each Secured Party will, independently and without reliance upon any other Secured Party, and based upon such financial statements, documents and information as it deems appropriate at the time, continue to make and rely upon its own
credit decisions in making Loans and participating in LC Obligations, and in taking or refraining from any action under any Loan Documents. Except for notices, reports and other information 

  
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expressly requested by a Lender, Agent shall have no duty or responsibility to provide any Secured Party with any notices, reports or certificates furnished to Agent by any Obligor or any credit
or other information concerning the affairs, financial condition, business or Properties of any Obligor (or any of its Affiliates) which may come into possession of Agent or its Affiliates. 

12.11    Remittance of Payments and Collections. 

12.11.1        Remittances Generally. All payments by any Lender to Agent
shall be made by the time and on the day set forth in this Agreement, in immediately available funds. If no time for payment is specified or if payment is due on demand by Agent and request for payment is made by Agent by 1:00 p.m. (Local Time) on a
Business Day, payment shall be made by Lender not later than 3:00 p.m. (Local Time) on such day, and if request is made after 1:00 p.m. (Local Time), then payment shall be made by 11:00 a.m. (Local Time) on the next Business Day. Payment by
Agent to any Secured Party shall be made by wire transfer, in the type of funds received by Agent. Any such payment shall be subject to Agent’s right of offset for any amounts due from such payee under the Loan Documents. 

12.11.2        Failure to Pay. If any Secured Party fails to pay any amount
when due by it to Agent pursuant to the terms hereof, such amount shall bear interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary for interbank compensation for two
Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers be entitled to credit for any interest paid by a Secured Party to Agent, nor shall a Defaulting Lender be entitled to interest on amounts held by
Agent pursuant to Section 4.2. 
 12.11.3        Recovery of
Payments. If Agent pays an amount to a Secured Party in the expectation that a related payment will be received by Agent from an Obligor and such related payment is not received, then Agent may recover such amount from the Secured Party. If
Agent determines that an amount received by it must be returned or paid to an Obligor or other Person pursuant to Applicable Law or otherwise, then Agent shall not be required to distribute such amount to any Secured Party. If any amounts received
and applied by Agent to Obligations held by a Secured Party are later required to be returned by Agent pursuant to Applicable Law, such Secured Party shall pay to Agent, on demand, its share of the amounts required to be returned. 

12.12    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. Agent, Lenders and their Affiliates may accept
deposits from, lend money to, provide Bank Products to, act as financial or other advisor to, and generally engage in any kind of business with, Obligors 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, Agent, Lenders and their Affiliates may receive information regarding Obligors, 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. 

12.13    Titles. Each Lender, other than Bank of America, that is designated in connection
with this credit facility as an “Arranger,” “Bookrunner” or “Agent” of any kind shall have no right or duty under any Loan Documents other than those applicable to all Lenders, and shall in no event have any fiduciary
duty to any Secured Party. 
 12.14    Bank Product Providers. Each Secured Bank Product
Provider, by delivery of a notice to Agent of a Bank Product, agrees to be bound by the Loan Documents, including Sections 5.5, 14.3.3 and 12. Each Secured Bank Product Provider shall indemnify and hold harmless Agent
Indemnitees, to 

  
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the extent not reimbursed by Obligors, against all Claims that may be incurred by or asserted against any Agent Indemnitee in connection with such provider’s Secured Bank Product
Obligations. 
 12.15        No Third Party Beneficiaries. This
Section 12 is an agreement solely among Secured Parties and Agent, and shall survive Full Payment of the Obligations. This Section 12 does not confer any rights or benefits upon Borrowers or any other Person. As between
Borrowers and Agent, any action that Agent 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. 

12.16        Authorization Regarding Intercreditor Agreement. Each
Lender hereby (a) consents to the subordination of Liens provided for in the Intercreditor Agreement, (b) agrees that it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement,
(c) authorizes and instructs Agent to enter into the Intercreditor Agreement on behalf of such Lender and agrees that Agent may take such actions on its behalf as is contemplated by the terms of the Intercreditor Agreement, and (d) acknowledges
(or is deemed to acknowledge) that a copy of the Intercreditor Agreement was delivered, or made available, to such Lender and it has received and reviewed the Intercreditor Agreement. In the event of any conflict between the terms of the
Intercreditor Agreement and any of the other Loan Documents, the terms of the Intercreditor Agreement shall govern and control except as expressly set forth in the Intercreditor Agreement. 

12.17        Withholding Taxes. To the extent required by any Applicable
Law, and subject to Section 5.8.4, Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding Tax. If the IRS or any other Governmental Authority asserts a claim that Agent did not properly withhold Tax
from amounts paid to or for the account of any Lender because (a) the appropriate form was not delivered or was not properly executed by such Lender, (b) such Lender failed to notify Agent of a change in circumstance which rendered the
exemption from, or reduction of, withholding Tax ineffective or for any other reason or (c) such Lender otherwise failed to comply with Section 5.9, or if Agent reasonably determined that a payment was made to a Lender pursuant to
this Agreement without deduction or applicable withholding Tax from such payment, such Lender shall indemnify Agent fully for all amounts paid, directly or indirectly, by Agent as Tax or otherwise, including any expenses (including legal expenses)
incurred 
 12.18        9Lender Representations and Warranties. 

(a)        Each Lender (x) represents and warrants, as of the
date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Agent and the Arranger and their
respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower or any other Obligor, that at least one of the following is and will be true: 

(i)        such Lender is not using “plan assets” (within
the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments, 

(ii)        the transaction exemption set forth in one or more PTEs,
such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class

  
  

9
 Added per Third Amendment. 

  
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exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE
96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the
Commitments and this Agreement, 
 (iii)        (A) such Lender is
an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and
this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to
such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

(iv)        such other representation, warranty and covenant as may be
agreed in writing between the Agent, in its sole discretion, and such Lender. 

(b)        In addition, unless sub-clause (i) in the immediately
preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Agent and
the Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower or any other Obligor, that: 

(i)        none of the Agent or the Arranger or any of their
respective Affiliates is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Agent under this Agreement, any Loan Document or any documents related to hereto or
thereto), 
 (ii)        the Person making the investment decision
on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21)
and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),

 (iii)        the Person making the investment decision on behalf
of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general
and with regard to particular transactions and investment strategies (including in respect of the Obligations), 

  
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 (iv)        the
Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA
or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and 

(v)        no fee or other compensation is being paid directly to the
Agent or the Arranger or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement. 

(c)        The Agent and the Arranger hereby informs the Lenders that
each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions
contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the
Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with
the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent
fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing. 
 SECTION 13 

BENEFIT OF AGREEMENT; ASSIGNMENTS 

13.1        Successors and Assigns. This Agreement shall be binding upon
and inure to the benefit of Obligors, Agent, Lenders, Secured Parties, and their respective successors and assigns, except that (a) no Obligor shall have the right to assign its rights or delegate its obligations under any Loan Documents; and
(b) any assignment by a Lender must be made in compliance with Section 13.3. Agent may treat the Person which made any Loan as the owner thereof for all purposes until such Person makes an assignment in accordance with
Section 13.3. Any authorization or consent of a Lender shall be conclusive and binding on any subsequent transferee or assignee of such Lender. 

13.2        Participations. 

13.2.1        Permitted Participants; Effect. Subject to
Section 13.3.3, any Lender may sell to a financial institution (“Participant”) a participating interest in the rights and obligations of such Lender under any Loan Documents. Despite any sale by a Lender of participating
interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, it shall remain solely responsible to the other parties hereto for performance of such obligations, it shall remain the holder of its Loans
and Borrower Group Commitments for all purposes, all amounts payable by the applicable Obligor Group shall be determined as if it had not sold such participating interests, and the applicable Obligor Group and Agent shall continue to deal solely and
directly with such Lender in connection with the Loan Documents. Each Lender shall be solely responsible for notifying its 

  
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Participants of any matters under the Loan Documents, and Agent and the other Lenders shall not have any obligation or liability to any such Participant. A Participant that would be a Foreign
Lender if it were a Lender shall not be entitled to the benefits of Sections 3.7 or 5.8 unless Borrower Agent agrees otherwise in writing to the grant of such participating interest. 

13.2.2        Voting Rights. Each Lender shall retain the sole right to
approve, without the consent of any Participant, any amendment, waiver or other modification of a Loan Document other than that which forgives principal, interest or fees, reduces the stated interest rate or fees payable with respect to any Loan or
Commitment in which such Participant has an interest, postpones the Commitment Termination Date in respect of a Borrower Group in which such Participant has an interest or any date fixed for any regularly scheduled payment of principal, interest or
fees on such Loan or Commitment, or releases any Borrower, Guarantor or other Obligor or substantially all Collateral. 

13.2.3        Participant Register. Each Lender that sells a participation
shall, acting as a non-fiduciary agent of Borrowers (solely for tax purposes), maintain a register in which it enters the Participant’s name, address and interest in Commitments, Loans (and stated interest) and LC Obligations. Entries in the
register shall be conclusive, absent manifest error, and such Lender shall treat each Person recorded in the register as the owner of the participation for all purposes, notwithstanding any notice to the contrary. No Lender shall have an obligation
to disclose any information in such register except to the extent necessary to establish that a Participant’s interest is in registered form under the Code. 

13.2.4        Benefit of Setoff. Obligors agree that each Participant shall
have a right of set-off in respect of its participating interest to the same extent as if such interest were owing directly to a Lender, and each Lender shall also retain the right of set-off with respect to any participating interests sold by it.
By exercising any right of set-off, a Participant agrees to share with Lenders all amounts received through its set-off, in accordance with Section 12.6 as if such Participant were a Lender. 

13.3        Assignments. 

13.3.1        Permitted Assignments. A Lender may assign to an Eligible
Assignee any of its rights and obligations under the Loan Documents, as long as (a) each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case
of a partial assignment, is in a minimum principal amount of $5,000,000 (unless otherwise agreed by Agent in its discretion) and integral multiples of $5,000,000 in excess of that amount; (b) except in the case of an assignment in whole of a
Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least $5,000,000 (unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall
execute and deliver an Assignment to Agent for acceptance and recording. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment
to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto. 

13.3.2        Effect; Effective Date. Upon delivery to Agent of an assignment
notice in the form of Exhibit B and a processing fee of $3,500 (unless otherwise agreed by Agent in its discretion), the assignment shall become effective as specified in the notice, if it complies with this Section 13.3. From
such effective date, the Eligible Assignee shall for all purposes be a Lender under the Loan Documents, and shall have all rights and obligations of a Lender thereunder. Upon consummation of an assignment, the transferor Lender, Agent and Borrowers
shall make appropriate arrangements for issuance of replacement and/or new notes, if applicable. The transferee Lender shall comply with Section 

  
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5.9 and deliver, upon request, an administrative questionnaire satisfactory to Agent. The assigning Lender shall deliver a copy of such assignment notice to Borrower Agent concurrently
with the delivery of the same to Agent. 
 13.3.3        Certain Assignees.
No assignment or participation may be made to a Borrower, Affiliate of a Borrower, Defaulting Lender or natural person. Agent has no obligation to determine whether any assignee is permitted under the Loan Documents. Assignment by a Defaulting
Lender shall be effective only if there is concurrent satisfaction of all outstanding obligations of the Defaulting Lender under the Loan Documents in a manner satisfactory to Agent, including payment by the Eligible Assignee or Defaulting Lender to
Agent of an aggregate amount sufficient upon distribution (through direct payment, purchases of participations or other methods acceptable to Agent) to satisfy all funding and payment liabilities of the Defaulting Lender. If assignment by a
Defaulting Lender occurs (by operation of law or otherwise) without compliance with the foregoing sentence, the assignee shall be deemed a Defaulting Lender for all purposes until compliance occurs. 

13.3.4        Register. Agent, acting as a non-fiduciary agent of Borrowers
(solely for tax purposes), shall maintain (a) a copy (or electronic equivalent) of each Assignment and Acceptance delivered to it, and (b) a register for recordation of the names, addresses and Commitments of, and the Loans, interest and
LC Obligations owing to, each Lender. Entries in the register shall be conclusive, absent manifest error, and Borrowers, Agent and Lenders shall treat each Person recorded in such register as a Lender for all purposes under the Loan Documents,
notwithstanding any notice to the contrary. Agent may choose to show only one Borrower as the borrower in the register, without any effect on the liability of any Obligor with respect to the Obligations. The register shall be available for
inspection by Borrowers or any Lender, from time to time upon reasonable notice. 

13.4        Replacement of Certain Lenders. If a Lender (a) within
the last 120 days failed to give its consent to any amendment, waiver or action for which consent of all Lenders was required and Required Lenders consented, (b) is a Defaulting Lender, or (c) within the last 120 days gave a notice under
Section 3.5 or requested payment or compensation under Section 3.7 or 5.8 (and has not designated a different Lending Office pursuant to Section 3.8), then Agent or Borrower Agent may, upon 10 days’
notice to such Lender, require it to assign its rights and obligations under the Loan Documents to Eligible Assignee(s), pursuant to appropriate Assignment(s), within 20 days after the notice. Agent is irrevocably appointed as attorney-in-fact to
execute any such Assignment if the Lender fails to execute it. Such Lender shall be entitled to receive, in cash, concurrently with such assignment, all amounts owed to it under the Loan Documents through the date of assignment. 

SECTION 14 

MISCELLANEOUS 

14.1        Consents, Amendments and Waivers. 

14.1.1        Amendment. No modification of any Loan Document, including any
extension or amendment of a Loan Document or any waiver of a Default or Event of Default, shall be effective without the prior written agreement of Agent (with the consent of Required Lenders) and each Obligor party to such Loan Document; provided,
however, that 
 (a)        without the prior written consent of
Agent, no modification shall alter any provision in a Loan Document that relates to any rights, duties or discretion of Agent; 

  
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 (b)        (i)
without the prior written consent of Canadian Issuing Bank, no modification shall alter Section 2.2 or any other provision in a Loan Document that relates to Canadian Letters of Credit or any rights, duties or discretion of Canadian
Issuing Bank, (ii) without the prior written consent of UK Issuing Bank, no modification shall alter Section 2.3 or any other provision in a Loan Document that relates to UK Letters of Credit or any rights, duties or discretion of
UK Issuing Bank and (iii) without the prior written consent of U.S. Issuing Bank, no modification shall alter Section 2.4 or any other provision in a Loan Document that relates to U.S. Letters of Credit or any rights, duties or
discretion of U.S. Issuing Bank; 
 (c)        without the prior
written consent of each affected Lender, including a Defaulting Lender, no modification shall (i) increase the Borrower Group Commitment of such Lender; (ii) reduce the amount of, or waive or delay payment of, any principal, interest or
fees payable to such Lender (except as provided in Section 4.2); (iii) extend the Commitment Termination Date applicable to such Lender’s Obligations; or (iv) amend this clause (c); 

(d)        without the prior written consent of all Lenders (except
any Defaulting Lender), no modification shall (i) alter Section 5.5.2, or 14.1.1; (ii) amend the definition of any Borrowing Base, FILO Amount, any Accounts Formula Amount or any Inventory Formula Amount (or any defined
term used in such definitions) if the effect of such amendment is to increase borrowing availability, Pro Rata or Required Lenders; (iii) release all or substantially all Collateral; (iv) except in connection with a merger, disposition or
similar transaction expressly permitted hereby, release any Obligor from liability for any Obligations; or (v) increase the Maximum Facility Amount; 

(e)        without the prior written consent of a Secured Bank Product
Provider, no modification shall affect its relative payment priority under Section 5.5.2; 

(f)        Agent and the applicable Obligors may amend, modify or
supplement any Loan Document without the consent of any Lender or the Required Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical error or other manifest error in any Loan Document; and

 (g)        Agent and the Borrowers may amend this Agreement
without the consent of any Lender or Required Lenders in order to provide the Lenders with the benefits of any additional covenants, additional events of default, more restrictive covenants or more restrictive events of default that are added to Senior Term Loan Documents and/or the Term Loan Documents. 

Notwithstanding anything in this Section 14.1.1 to the contrary, (a) this Agreement may be amended (or
amended and restated) with the written consent of only Agent, the Borrower Agent and each Lender to add one or more additional credit facilities to this Agreement for a new jurisdiction and to permit the extensions of credit from time to time
outstanding thereunder and the accrued interest and fees in respect thereof to share in the benefits of this Agreement and the other Loan Documents and (b) the consent of all Lenders (except any Defaulting Lender) is required for an increase in
the Maximum Facility Amount. By their execution of this Agreement, the Required Lenders consent to the execution of the amendments to the Intercreditor Agreement and the Guarantee and Collateral Agreement that are referred to in Section
10.1.15. 
 14.1.2        Limitations. The agreement of Obligors shall
not be required for any modification of a Loan Document that deals solely with the rights and duties of Lenders, Agent, Security 

  
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Trustees and/or Issuing Banks as among themselves. Only the consent of the parties to any agreement relating to fees or a Bank Product shall be required for modification of such agreement, and no
Bank Product provider (in such capacity) shall have any right to consent to modification of any Loan Document other than its Bank Product agreement. Any waiver or consent granted by Agent or Lenders hereunder shall be effective only if in writing
and only for the matter specified. 
 14.1.3        Payment for Consents. No
Obligor will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any
modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, on a Pro Rata basis to all Lenders providing their consent. 

14.2        Indemnity. EACH OBLIGOR SHALL INDEMNIFY AND HOLD HARMLESS
THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE, INCLUDING CLAIMS ASSERTED BY ANY OBLIGOR OR OTHER PERSON OR ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE. In no event shall any party to a Loan Document
have any obligation thereunder to indemnify or hold harmless an Indemnitee with respect to a Claim that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct
of such Indemnitee. 
 14.3        Notices and Communications. 

14.3.1        Notice Address. Subject to Section 4.1.4, all
notices and other communications by or to a party hereto shall be in writing and shall be given to any Obligor, at Borrower Agent’s address shown on the signature pages hereof, and to any other Person at its address shown on the signature pages
hereof (or, in the case of a Person who becomes a Lender after the Closing Date, at the address shown on its Assignment), or at such other address as a party may hereafter specify by notice in accordance with this Section 14.3. Each
communication shall be effective only (a) if given by facsimile transmission, when transmitted to the applicable facsimile number, if confirmation of receipt is received; (b) if given by mail, three Business Days after deposit in the local mail
system of the recipient, with first-class postage pre-paid, addressed to the applicable address; or (c) if given by personal delivery, when duly delivered to the notice address with receipt acknowledged. Notwithstanding the foregoing, no notice
to Agent pursuant to Section 2.1.4, 2.2, 2.3, 2.4, 3.1.2 or 4.1.1 shall be effective until actually received by the individual to whose attention at Agent such notice is required to be sent. Any written
communication that is not sent in conformity with the foregoing provisions shall nevertheless be effective on the date actually received by the noticed party. Any notice received by Borrower Agent shall be deemed received by all Obligors. 

14.3.2        Communications. Electronic communications (including e-mail,
messaging and websites) may be used only in a manner acceptable to Agent and only for routine communications, such as delivery of Borrower Materials, administrative matters, distribution of Loan Documents and matters permitted under
Section 4.1.4. Secured Parties make no assurance as to the privacy or security of electronic communications. E-mail and voice mail shall not be effective notices under the Loan Documents. 

14.3.3        Platform. Borrower Materials shall be delivered pursuant to
procedures approved by Agent, including electronic delivery (if possible) upon request by Agent to an electronic system maintained by Agent (“Platform”). Borrower Agent shall notify Agent of each posting of Borrower Materials on the
Platform and the materials shall be deemed received by Agent only upon its receipt of such notice. Borrower Materials and other information relating to this credit facility may be 

  
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made available to Secured Parties on the Platform. The Platform is provided “as is” and “as available.” Agent does not warrant the accuracy or completeness of any information
on the Platform nor the adequacy or functioning of the Platform, and expressly disclaims liability for any errors or omissions in the Borrower Materials or any issues involving the Platform. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS, OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY AGENT WITH RESPECT TO BORROWER MATERIALS OR THE PLATFORM. No Agent
Indemnitee shall have any liability to Obligors, Secured Parties or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) relating to use by any Person of the Platform, including
any unintended recipient, nor for delivery of Borrower Materials and other information via the Platform, internet, e-mail, or any other electronic platform or messaging system. 

14.3.4        Public Information. Obligors and Secured Parties acknowledge
that “public” information may not be segregated from material non-public information on the Platform. Secured Parties acknowledge that Borrower Materials may include Obligors’ material non-public information, and should not be made
available to personnel who do not wish to receive such information or may be engaged in investment or other market-related activities with respect to an Obligor’s securities. 

14.3.5        Non-Conforming Communications. Agent and Lenders may rely upon
any communications purportedly given by or on behalf of any Obligor even if they were not made in a manner specified herein, were incomplete or were not confirmed, or if the terms thereof, as understood by the recipient, varied from a later
confirmation. Each Obligor shall indemnify and hold harmless each Indemnitee from any liabilities, losses, costs and expenses arising from any electronic or telephonic communication purportedly given by or on behalf of an Obligor. 

14.4        Performance of Obligors’ Obligations. Agent may, in its
Permitted Discretion at any time and from time to time, at the expense of the applicable Obligor Group, pay any amount or do any act required of an Obligor under any Loan Documents or otherwise lawfully requested by Agent to (a) enforce any
Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend or maintain the validity or priority of Agent’s or any Security Trustee’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. All payments, costs and expenses (including Extraordinary Expenses) of Agent under this Section shall be
reimbursed to Agent by Obligors, on demand, with interest from the date incurred until paid in full, at the Default Rate applicable to U.S. Base Rate Loans. Any payment made or action taken by Agent under this Section shall be without prejudice to
any right to assert an Event of Default or to exercise any other rights or remedies under the Loan Documents. 

14.5        Credit Inquiries. Agent and Lenders may (but shall have no
obligation) to respond to usual and customary credit inquiries from third parties concerning any Obligor or Subsidiary. 

14.6        Severability. Wherever possible, each provision of the Loan
Documents shall be interpreted in such manner as to be valid under Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of the Loan
Documents shall remain in full force and effect. 
 14.7        Cumulative
Effect; Conflict of Terms. The provisions of the Loan Documents are cumulative. The parties acknowledge that the Loan Documents may use several limitations or measurements to regulate similar matters, and they agree that these are cumulative
and that each must be performed as provided. Except as otherwise provided in another Loan Document (by specific reference to 

  
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the applicable provision of this Agreement), if any provision contained herein is in direct conflict with any provision in another Loan Document, the provision herein shall govern and control.

 14.8        Counterparts; Execution. Any Loan Document may be
executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement shall become effective when Agent has received counterparts bearing the signatures of all
parties hereto. Agent may (but shall have no obligation to) accept any signature, contract formation or record-keeping through electronic means, which shall have the same legal validity and enforceability as manual or paper-based methods, to the
fullest extent permitted by Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any similar state law based on the Uniform Electronic
Transactions Act. 
 14.9        Entire Agreement. Time is of the
essence with respect to all Loan Documents and Obligations. The Loan Documents constitute the entire agreement, and supersede all prior understandings and agreements, among the parties relating to the subject matter thereof. 

14.10        Relationship with Lenders. The obligations of each Lender
hereunder are several, and no Lender shall be responsible for the obligations or Commitments of any other Lender. Amounts payable hereunder to each Lender shall be a separate and independent debt. It shall not be necessary for Agent or any other
Lender to be joined as an additional party in any proceeding for such purposes. Nothing in this Agreement and no action of Agent, Lenders or any other Secured Party pursuant to the Loan Documents or otherwise shall be deemed to constitute Agent and
any Secured Party to be a partnership, joint venture or similar arrangement, nor to constitute control of any Obligor. 

14.11        No Advisory or Fiduciary Responsibility. In connection with
all aspects of each transaction contemplated by any Loan Document, Obligors acknowledge and agree that (a)(i) this credit facility and any arranging or other services by Agent, any Lender, any of their Affiliates or any arranger are
arm’s-length commercial transactions between Obligors and their Affiliates, on one hand, and Agent, any Lender, any of their Affiliates or any arranger, on the other hand; (ii) Obligors have consulted their own legal, accounting,
regulatory and tax advisors to the extent they have deemed appropriate; and (iii) Obligors are capable of evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated by the Loan Documents;
(b) each of Agent, Lenders, their Affiliates and any arranger is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or
fiduciary for Obligors, their Affiliates or any other Person, and has no obligation with respect to the transactions contemplated by the Loan Documents except as expressly set forth therein; and (c) Agent, Lenders, their Affiliates and any
arranger may be engaged in a broad range of transactions that involve interests that differ from those of Obligors and their Affiliates, and have no obligation to disclose any of such interests to Obligors or their Affiliates. To the fullest extent
permitted by Applicable Law, each Obligor hereby waives and releases any claims that it may have against Agent, Lenders, their Affiliates and any arranger with respect to any breach of agency or fiduciary duty in connection with any transaction
contemplated by a Loan Document. 
 14.12        Confidentiality. Each
of Agent, Lenders and Issuing Banks shall maintain the confidentiality of all Information (as defined below), except that Information may be disclosed (a) to its Affiliates, and to its and their partners, directors, officers, employees, agents,
advisors and representatives (provided they are informed of the confidential nature of the Information and instructed to keep it confidential); (b) to the extent requested by any governmental, regulatory or self-regulatory authority purporting
to have jurisdiction over it or its Affiliates; (c) to the extent required by Applicable Law or by any subpoena or other legal process; (d) to any other party hereto; (e) in connection with any action or 

  
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proceeding relating to any Loan Documents or Obligations; (f) subject to an agreement containing provisions substantially the same as this Section, to any Transferee or any actual or
prospective party (or its advisors) to any Bank Product or to any swap, derivative or other transaction under which payments are to be made by reference to an Obligor or Obligor’s obligations; (g) to the extent such Information
(i) becomes publicly available other than as a result of a breach of this Section or (ii) is available to Agent, any Lender, any Issuing Bank or any of their Affiliates on a nonconfidential basis from a source other than Obligors;
(h) on a confidential basis to a provider of a Platform; or (i) with the consent of Borrower Agent. Notwithstanding the foregoing, Agent and Lenders may publish or disseminate general information concerning this credit facility for league
table, tombstone and advertising purposes, and may use Obligors’ logos, trademarks or product photographs in advertising materials. As used herein, “Information” means information received from an Obligor or Subsidiary relating to it
or its business that is identified as confidential when delivered. A Person required to maintain the confidentiality of Information pursuant to this Section shall be deemed to have complied if it exercises a degree of care similar to that accorded
its own confidential information. Each of Agent, Lenders and Issuing Banks acknowledges that (i) Information may include material non-public information; (ii) it has developed compliance procedures regarding the use of such information;
and (iii) it will handle the material non-public information in accordance with Applicable Law. 

14.13    Certifications Regarding Senior Term Loan Documents and Term Loan Documents. Obligors
certify to Agent and Lenders that neither the execution or performance of the Loan Documents nor the incurrence of any Obligations by Obligors
violates the Senior Term Loan Documents or the Term Loan Documents.
Obligors further certify that the Commitments and Obligations constitute “Indebtedness” permitted under each of the
Senior Term Loan Documents and the Term Loan Agreement. Agent may condition Borrowings, Letters of Credit and other credit accommodations under the Loan Documents from time to time upon
Agent’s receipt of evidence that the Commitments and Obligations continue to constitute “Indebtedness” permitted under
each of the Senior Term Loan Agreement and the Term Loan Agreement at such
time. 
 14.14    GOVERNING LAW.    UNLESS
EXPRESSLY PROVIDED IN ANY LOAN DOCUMENT, THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ALL CLAIMS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES EXCEPT FEDERAL LAWS RELATING TO NATIONAL
BANKS. 
 14.15    Consent to Forum. 

14.15.1        Forum. EACH OBLIGOR HEREBY CONSENTS TO THE EXCLUSIVE
JURISDICTION OF ANY STATE COURT SITTING IN NEW YORK COUNTY, NEW YORK OR THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, IN ANY DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND
AGREES THAT ANY DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH OBLIGOR IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING ANY SUCH COURT’S
PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
14.3.1. A final judgment in any proceeding of any such court shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or any other manner provided by Applicable Law. 

  
 -190- 

 14.15.2    Other
Jurisdictions.    Nothing herein shall limit the right of Agent, any Security Trustee or any Lender to bring proceedings against any Obligor (other than a Mexican Domiciled Obligor) in any other court, nor limit the right of
any party to serve process in any other manner permitted by Applicable Law (except with respect to service of process to Mexican Domiciled Obligors). Nothing in this Agreement shall be deemed to preclude enforcement by Agent or any Security Trustee
of any judgment or order obtained in any forum or jurisdiction. Final judgment against an Obligor in any action, suit or proceeding shall be conclusive and may be enforced in any other jurisdiction, including the country in which such Obligor is
domiciled, by suit on the judgment. 
 14.16    Waivers by Obligors. To the fullest extent
permitted by Applicable Law, each Obligor waives (a) the right to trial by jury (which Agent, each Security Trustee and each Lender hereby also waives) in any proceeding or dispute of any kind relating in any way to any Loan Documents,
Obligations or Collateral; (b) presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any commercial paper, accounts, documents, instruments, chattel paper
and guaranties at any time held by Agent or any Security Trustee on which an Obligor may in any way be liable, and hereby ratifies anything Agent and/or such Security Trustee may do in this regard; (c) notice prior to taking possession or
control of any Collateral; (d) any bond or security that might be required by a court prior to allowing Agent or any Security Trustee to exercise any rights or remedies; (e) the benefit of all valuation, appraisement and exemption laws;
(f) any claim against Agent, any Security Trustee, any Issuing Bank or any Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way relating to
any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g) notice of acceptance hereof. Each Obligor acknowledges that the foregoing waivers are a material inducement to Agent, Security Trustees, Issuing Banks
and Lenders entering into this Agreement and that they are relying upon the foregoing in their dealings with Obligors. Each Obligor has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and
other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. Notwithstanding the above, each Mexican Domiciled Obligor further waives any right to any
jurisdiction (other than as provided under Sections 14.14 and 14.15 above) to which they may be entitled under Applicable Law, by reason of its present or future domicile, or otherwise, for the purposes of proceedings against or
involving any of the Mexican Domiciled Obligors, and waives any objection to those courts on the ground of venue or forum non conveniens. 

14.17    Patriot Act Notice and “Know Your Client/Customer” Checks. Agent and
Lenders hereby notify Obligors that pursuant to the Patriot Act, the Proceeds of Crime Act, the Money Laundering Regulations 2007 (UK), Proceeds of Crime Act 2002 (UK), Terrorism Act 2000 (UK) and other applicable anti-money laundering,
anti-terrorist financing, economic or trade sanctions and “know your client” or “know your customer” policies, regulations, laws or rules (the Proceeds of Crime Act and such other applicable policies, regulations, laws or rules,
collectively, including any guidelines or orders thereunder, “AML Legislation”), Agent and Lenders are required to obtain, verify and record information that identifies each Obligor, including its legal name, address, tax ID number
and other information that will allow Agent and Lenders to identify it in accordance with the Patriot Act and the AML Legislation. Agent and Lenders will also require information regarding each personal guarantor, if any, and may require information
regarding Obligors’ management and owners, such as legal name, address, social security number and date of birth. Obligors shall, promptly upon request, provide all documentation and other information as Agent, any Issuing Bank or any Lender
may request from time to time in order to comply with any obligations under the Patriot Act and/or the AML Legislation. 

  
 -191- 

 14.18    Canadian Anti-Money Laundering Legislation. If
Agent has ascertained the identity of any Canadian Facility Obligor or any authorized signatories of any Canadian Facility Obligor for the purposes of applicable AML Legislation, then Agent: 

(a)        shall be deemed to have done so as an agent for each Canadian Lender, and
this Agreement shall constitute a “written agreement” in such regard between each Canadian Lender and Agent within the meaning of the applicable AML Legislation; and 

(b)        shall provide to each Canadian Lender copies of all information obtained in
such regard without any representation or warranty as to its accuracy or completeness. 
 Notwithstanding the preceding sentence and except
as may otherwise be agreed in writing, each of the Canadian Lenders agrees that Agent has no obligation to ascertain the identity of the Canadian Facility Obligors or any authorized signatories of the Canadian Facility Obligors on behalf of any
Canadian Lender, or to confirm the completeness or accuracy of any information it obtains from any Canadian Facility Obligor or any such authorized signatory in doing so. 

14.19    NO ORAL AGREEMENT.    THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN AGREEMENTS BETWEEN THE PARTIES. 

14.20    Process Agent.    Without prejudice to any other mode of
service allowed under any relevant law, each Foreign Domiciled Obligor (a) irrevocably appoints the Borrower Agent, as its agent for service of process in relation to any action or proceeding arising out of or relating to any Loan Documents,
and (b) agrees that failure by a process agent to notify such Obligor of any process will not invalidate the proceedings concerned. For purposes of clarity, nothing in this Agreement or any other Loan Document will affect the right of any party
to this Agreement to serve process in any other manner permitted by law. Notwithstanding the above, each Mexican Domiciled Obligor shall appoint the Borrower Agent as its agent for service of process in relation to any action or proceeding arising
out of or relating to any Loan Document in the form of an instrument containing a special irrevocable power of attorney granted before a Mexican notary public, in the form attached hereto as Exhibit E or otherwise in form and substance
satisfactory to Agent. 
 14.21    Acknowledgement and Consent to Bail-In of EEA Financial
Institutions. 
 Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or
understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down
and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

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

(b)    the effects of any Bail-in Action on any such liability, including, if applicable: 

 

	 	(i)	 a reduction in full or in part or cancellation of any such liability; 

  
 -192- 

	 	(ii)	 a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such
EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
such liability under this Agreement or any other Loan Document; or 

  

	 	(iii)	 the variation of the terms of such liability in connection with the exercise of the write-down and
conversion powers of any EEA Resolution Authority. 

 [Remainder of page intentionally left blank; signatures begin on
following page] 

  
 -193- 

 IN WITNESS WHEREOF, this Agreement has been executed and delivered as
of the date set forth above. 
  

					
		 	 OBLIGORS:

		
		 	 HORIZON GLOBAL CORPORATION,

		 	 a Delaware corporation, as a U.S. Borrower, a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian
Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor, a UK Facility Obligor and the Borrower Agent

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	               39400 Woodward Avenue, Suite
100
	 	
		 	               Bloomfield Hills, MI 48304
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	
		
		 	 CEQUENT PERFORMANCE PRODUCTS, INC.,

		 	 a Delaware corporation, as a U.S. Borrower, a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian
Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor101

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	               39400 Woodward Avenue, Suite
100
	 	
		 	               Bloomfield Hills, MI 48304
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	

  
  

 

	101
 	 Name changed to Horizon Global Americas Inc. 

					
		 	 CEQUENT CONSUMER PRODUCTS, INC.,

		 	 an Ohio corporation, as a U.S. Borrower, a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian
Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor and a UK Facility
Obligor112

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	               39400 Woodward Avenue, Suite
100
	 	
		 	               Bloomfield Hills, MI 48304
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	
		
		 	 CEQUENT UK LIMITED, a company incorporated in England and Wales with company number 08081641,
as UK Borrower, a UK Facility Obligor, a Canadian Facility Guarantor and a Canadian Facility Obligor

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	
                       
                                         
  
	 	
		 	
                       
                                         
  
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	
		
		 	 CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of
Ontario, as Canadian Borrower, a Canadian Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	
                       
                                         
  
	 	
		 	
                       
                                         
  
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	

  
  

11
2
 Merged into Cequent Performance Products, Inc. 

					
		 	 HORIZON GLOBAL COMPANY LLC,

		 	 a Delaware limited liability company, as a U.S. Facility Guarantor, a U.S. Facility Obligor, a Canadian
Facility Guarantor, a Canadian Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	               39400 Woodward Avenue, Suite
100
	 	
		 	               Bloomfield Hills, MI 48304
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	
		
		 	 HORIZON INTERNATIONAL HOLDINGS LLC,

		 	 a Delaware limited liability company, as a Canadian Facility Guarantor, a Canadian Facility Obligor, a UK
Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	
                       
                                         
  
	 	
		 	
                       
                                         
  
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	
		
		 	 CEQUENT NEDERLAND HOLDINGS B.V.,

		 	 a company formed under the laws of the Netherlands, as a Canadian Facility Guarantor, a Canadian Facility
Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	               3062 Rotterdam
	 	
		 	               Max Euwelaan 35
	 	
		 	               the Netherlands
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	

					
		 	 CEQUENT MEXICO HOLDINGS B.V.,

		 	 a company formed under the laws of the Netherlands, as a Canadian Facility Guarantor, a Canadian Facility
Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	               3062 Rotterdam
	 	
		 	               Max Euwelaan 35

              the Netherlands
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	
		
		 	 CEQUENT SALES COMPANY DE MEXICO, S. DE R.L. de C.V.,

		 	 a limited liability company formed under the laws of Mexico, as a Canadian Facility Guarantor, a Canadian
Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	
                       
                                         
                          
	 	
		 	
                       
                                         
                          
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	
		
		 	 CEQUENT TRAILER PRODUCTS, S. DE R.L. de C.V.,

		 	 a limited liability company formed under the laws of Mexico, as a Canadian Facility Guarantor, a Canadian
Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor123

			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	

  

12
3
 Merged into Cequent Electrical Products de Mexico, S. DE R.L. de C.V. 

					
		 	
                       
                                         
                          
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	

					
		 	 CEQUENT ELECTRICAL PRODUCTS DE MEXICO, S. DE R.L. de C.V.,

		 	 a limited liability company formed under the laws of Mexico, as a Canadian Facility Guarantor, a Canadian
Facility Obligor, a UK Facility Guarantor and a UK Facility Obligor

			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	
                       
                                         
                          
	 	
		 	
                       
                                         
                          
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	

					
		 	 AGENT AND LENDERS:

		
		 	 BANK OF AMERICA, N.A.,

		 	as Agent, a U.S. Lender, a UK Lender and UK Swingline Lender
			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	               Bank of America, N.A.
	 	
		 	               Business Capital

              2600 West Big Beaver Road

              Troy, Michigan 48084

              Attn: Steve Siravo

              Telecopy: 248-631-0515
	 	
		
		 	 BANK OF AMERICA, N.A. (acting through its Canada branch), as a Canadian Lender and Canadian Swingline
Lender

			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	
                       
                                         
                          
	 	
		 	
                       
                                         
                          
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	
		
		 	BANK OF AMERICA, N.A. (acting through its London branch), as UK Security Trustee
			
		 	
By:                      
                                         
                     
	 	
		 	
Name:                      
                                         
                
	 	
		 	
Title:                      
                                         
                  
	 	
		 	 Address:
	 	
		 	
                       
                                         
                          
	 	
		 	
                       
                                         
                          
	 	
		 	
              Attn:        
                                         
                   
	 	
		 	               Telecopy:
                                         
                  
	 	

					
		  	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, as a U.S. Lender

			
		  	
By:                      
                                         
                     
	 	
		  	
Name:                      
                                         
                
	 	
		  	
Title:                      
                                         
                  
	 	
		  	 Address:
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
              Attn:        
                                         
                   
	 	
		  	               Telecopy:
                                         
                  
	 	
		
		  	 WELLS FARGO CAPITAL FINANCE

CORPORATION CANADA, as a Canadian Lender

			
		  	
By:                      
                                         
                     
	 	
		  	
Name:                      
                                         
                
	 	
		  	
Title:                      
                                         
                  
	 	
		  	 Address:
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
              Attn:        
                                         
                   
	 	
		  	               Telecopy:
                                         
                  
	 	
		
		  	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, (London branch), as a UK Lender

			
		  	
By:                      
                                         
                     
	 	
		  	
Name:                      
                                         
                
	 	
		  	
Title:                      
                                         
                  
	 	
		  	 Address:
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
                       
                                         
                          
	 	
		  	
              Attn:        
                                         
                   
	 	
		  	               Telecopy:
                                         
                  
	 	

					
		 	BANK OF MONTREAL, as a U.S. Lender, a Canadian Lender and a UK Lender
			
		 	
By:                      
                                      
	 	
		 	
Name:                      
                                 
	 	
		 	
Title:                      
                                   
	 	
		 	 Address:
	 	
		 	
                       
                                         
  
	 	
		 	
                       
                                         
  
	 	
		 	
                       
                                         
  
	 	
		 	
              Attn:        
                                    
	 	
		 	
              Telecopy:       
                             
	 	

 EXHIBIT A 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 ASSIGNMENT AND ACCEPTANCE 

Reference is made to the Amended and Restated Loan Agreement dated as of December 22, 2015, as amended
(“Loan Agreement”), by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (“Parent Borrower”), CEQUENT PERFORMANCE PRODUCTS, INC., a Delaware corporation (“Cequent
Performance”), CEQUENT CONSUMER PRODUCTS, INC., an Ohio corporation (“Cequent Consumer”), CEQUENT UK LIMITED, a company incorporated in England and Wales with company number 08081641 (“Cequent
UK”), CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of Ontario (“Cequent Canada”, and together with Parent Borrower, Cequent Performance, Cequent Consumer, and Cequent UK,
collectively, “Borrowers”), the other Persons from time to time party thereto as Obligors (as defined therein), the financial institutions party thereto from time to time as Lenders, and BANK OF AMERICA, N.A., a national
banking association, in its capacity as agent and security trustee for itself and the other Secured Parties (as defined therein) (“Agent”). Terms are used herein as defined in the Loan Agreement. 

                    
                                         
                                       
(“Assignor”) and
                                         
                                    (“Assignee”) agree
as follows: 
 1.        Assignor hereby assigns to Assignee and Assignee hereby
purchases and assumes from Assignor (a) a principal amount of $                of Assignor’s outstanding [Canadian/UK/US] Revolver Loans and
$        of Assignor’s participations in [Canadian/UK/US] LC Obligations, and (b) the amount of
$                of Assignor’s [Canadian/UK/US] Revolver Commitment (which represents         % of the
total [Canadian/UK/US] Revolver Commitments) (the foregoing items being, collectively, “Assigned Interest”), together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be
effective as of the date (“Effective Date”) indicated in the corresponding Assignment Notice delivered to Agent, provided such Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. From and
after the Effective Date, Assignee hereby expressly assumes, and undertakes to perform, all of Assignor’s obligations in respect of the Assigned Interest, and all principal, interest, fees and other amounts which would otherwise be payable to
or for Assignor’s account in respect of the Assigned Interest shall be payable to or for Assignee’s account, to the extent such amounts accrue on or after the Effective Date. 

2.        Assignor (a) represents that as of the date hereof, prior to giving
effect to this assignment, its [Canadian/UK/US] Revolver Commitment is $                    , and the outstanding balance of its
[Canadian/UK/US] Revolver Loans and participations in [Canadian/UK/US] LC Obligations is $                    ; (b) makes
no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Loan Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Loan Agreement or any other instrument or document furnished pursuant thereto, other than that Assignor is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any
adverse claim; and (c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of Borrowers or the performance by Borrowers of their obligations under the Loan Documents. [Assignor is
attaching the promissory note[s] held by it and requests that Agent exchange such note[s] for new promissory notes payable to Assignee [and Assignor].] 

 3.        Assignee
(a) represents and warrants that it is legally authorized to enter into this Assignment; (b) confirms that it has received copies of the Loan Agreement and such other Loan Documents and information as it has deemed appropriate to make its
own credit analysis and decision to enter into this Assignment; (c) agrees that it shall, independently and without reliance upon Assignor and based on such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under the Loan Documents; (d) confirms that it is an Eligible Assignee; (e) appoints and authorizes Agent to take such action as agent on its behalf and to exercise such powers under
the Loan Agreement as are delegated to Agent by the terms thereof, together with such powers as are incidental thereto; (f) agrees that it will observe and perform all obligations that are required to be performed by it as a “Lender”
under the Loan Documents; (g) represents and warrants that the assignment evidenced hereby will not result in a non-exempt “prohibited transaction” under Section 406 of ERISA; and (h) represents and warrants that it is
[[not a Qualifying Lender]/[a Qualifying Lender (other than a Treaty Lender)]/[a Treaty Lender]]. 

4.        This Agreement shall be governed by the laws of the State of New York. If
any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of this Agreement shall remain in full force and effect. 

5.        Each notice or other communication hereunder shall be in writing, shall be
sent by messenger, by telecopy or facsimile transmission, or by first-class mail, shall be deemed given when sent and shall be sent as follows: 
  

					
	(a)        	 	 If to Assignee, to the following address (or to such other address as Assignee may designate from time to
time):

			
		 	 	  	
		 	 	  	
		 	 	  	
		
	(b)        	 	 If to Assignor, to the following address (or to such other address as Assignor may designate from time to
time):

			
		 	 	  	
		 	 	  	
		 	 	  	

 Payments hereunder shall be made by wire transfer of immediately available [Canadian
Dollars/Dollars/Euros/Sterling] as follows: 
 If to Assignee, to the following account (or to such other account as
Assignee may designate from time to time): 
  

					
		 	
                       
                                         
    
	  	
		 	
                       
                                         
    
	  	
		 	
ABA No.                     
                               
	  	
		 	
                       
                                         
    
	  	
		 	
Account No.                    
                            
	  	
		 	
Reference:                     
                              
	  	

 If to Assignor, to the following account (or to such other account as Assignor may designate
from time to time): 

					
		 	
                       
                                         
    
	  	
		 	
ABA No.                     
                               
	  	
		 	
                       
                                         
    
	  	
		 	
Account No.                    
                            
	  	
		 	
Reference:                     
                              
	  	

 IN WITNESS WHEREOF, this Assignment and Acceptance is
executed as of                        . 
  

					
		 	
                   
                                         
                    
	  	
		 	 (“Assignee”)
	  	
			
		 	 By Title:
	  	
			
		 	
                   
                                         
                    
	  	
		 	 (“Assignor”)
	  	
			
		 	 By Title:
	  	

 EXHIBIT B 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 ASSIGNMENT NOTICE 

Reference is made to (1) the Amended and Restated Loan Agreement dated as of December 22, 2015, as amended
(“Loan Agreement”), by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (“Parent Borrower”), CEQUENT PERFORMANCE PRODUCTS, INC., a Delaware corporation
(“Cequent Performance”), CEQUENT CONSUMER PRODUCTS, INC., an Ohio corporation (“Cequent Consumer”), CEQUENT UK LIMITED, a company incorporated in England and Wales with company
number 08081641 (“Cequent UK”), CEQUENT TOWING PRODUCTS OF CANADA LTD., a company formed under the laws of the Province of Ontario (“Cequent Canada”, and together with Parent Borrower, Cequent
Performance, Cequent Consumer, and Cequent UK, collectively, “Borrowers”), the other Persons from time to time party thereto as Obligors (as defined therein), the financial institutions party thereto from time to time as Lenders,
and BANK OF AMERICA, N.A., a national banking association, in its capacity as agent and security trustee for itself and the other Secured Parties (as defined therein) (“Agent”); and (2) the Assignment and
Acceptance dated as of                     , 20       (“Assignment”), between
                                 (“Assignor”) and
                                 (“Assignee”). Terms are used
herein as defined in the Loan Agreement. 
 Assignor hereby notifies Borrower Agent and Agent of
Assignor’s intent to assign to Assignee pursuant to the Assignment (a) a principal amount of $             of Assignor’s outstanding [Canadian/UK/US] Revolver
Loans and $             of Assignor’s participations in [Canadian/UK/US] LC Obligations, and(b) the amount of
$                 of Assignor’s [Canadian/UK/US] Revolver Commitment (which represents % of the total [Canadian/UK/US] Revolver
Commitments) (the foregoing items being, collectively, the “Assigned Interest”), together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be effective as of the date
(“Effective Date”) indicated below, provided this Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. Pursuant to the Assignment, Assignee has expressly assumed all of Assignor’s
obligations under the Loan Agreement to the extent of the Assigned Interest, as of the Effective Date. 
 For purposes of
the Loan Agreement, Agent shall deem Assignor’s [Canadian/UK/US] Revolver Commitment to be reduced by $                , and Assignee’s
[Canadian/UK/US] Revolver Commitment to be increased by $                . 

[The Assignee indicates for the benefit of Agent and without liability to any Relevant Borrower that it is [not a Qualifying Lender][a
Qualifying Lender (other than a Treaty Lender)][a Treaty Lender].]134 
 The address of Assignee to which notices and
information are to be sent under the terms of the Loan Agreement is: 
  

					
		  	 	  	
		  	 	  	
		  	 	  	
		  	 	  	

  
  

134 To be inserted where the Assignee is
participating in a UK Revolver Commitment. 

 The address of Assignee to which payments are to be sent under the terms of
the Loan Agreement is shown in the Assignment. 
 This Notice is being delivered to Borrower Agent and Agent pursuant to
Section 13.3 of the Loan Agreement. Please acknowledge your acceptance of this Notice by executing and returning to Assignee and Assignor a copy of this Notice. 

IN WITNESS WHEREOF, this Assignment Notice is executed as
of                              . 

 

					
		 	
                   
                                         
                
	  	
		 	 (“Assignee”)
	  	
			
		 	 By Title:
	  	
			
		 	
                   
                                         
                
	  	
		 	 (“Assignor”)
	  	
			
		 	 By Title:
	  	

 ACKNOWLEDGED AND AGREED, 

AS OF THE DATE SET FORTH ABOVE: 

BORROWER AGENT:* 

HORIZON GLOBAL CORPORATION, 

a Delaware corporation 
 By
Title: 
 * No signature required if Assignee is a Lender, Affiliate of a Lender or Approved Fund, or if an Event of Default exists. 

BANK OF AMERICA, N.A., 
 as Agent

 By  Title: 

 EXHIBIT C-1 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 FORM OF IN-TRANSIT INVENTORY LIEN WAIVER 

See attached. 

 EXHIBIT C-2 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 FORM OF VENDOR LIEN WAIVER 

See attached. 

 EXHIBIT D 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 FORM OF PERFECTION CERTIFICATE 

(On file with Agent). 

 EXHIBIT E 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 FORM OF SPECIAL IRREVOCABLE POWER OF ATTORNEY 

[English version for reference purposes only] 

To be executed and delivered in Spanish language, by each Mexican Domiciled Obligor/Grantor in the presence of and formalized by a
Mexican notary public. 
 [Each Mexican Domiciled Obligor/Grantor] (the “Grantor”), hereby
grants a special irrevocable power of attorney for litigation and collections in favor of HORIZON GLOBAL CORPORATION, a Delaware corporation (the “Process Agent”), in terms of the first paragraph of article 2554 of the
Federal Civil Code and corresponding articles of the Civil Codes of all States of the United Mexican States and of the Federal District of Mexico. This power of attorney is limited in its scope but is as broad as necessary and may be exercised in
any jurisdiction, limited pursuant to paragraph fourth of such article 2554 of the Federal Civil Code and corresponding articles of the Civil Codes of all States of the United Mexican States and of the Federal District of Mexico, so that the Process
Agent, in the name and on behalf of the Grantor, carries out any of the following actions: receive any and all notices and service of process in connection with any suits, actions, proceedings and judgments of all kinds, including, without
limitation, judicial, administrative or arbitration proceedings in any way relating to (i) the Amended and Restated Loan Agreement, dated December 22, 2015, as amended, amended and restated, supplemented or otherwise modified from time to
time (the “Loan Agreement”), signed by, among others, the Grantor and Bank of America, N.A. (the “Agent”); and (ii) any other agreement, instrument or document related to the Loan Agreement. The Grantor hereby
appoints as its conventional domicile exclusively to receive any of the notices and service of process referred above, 39400 Woodward Avenue, Suite 100, Bloomfield Hills, Michigan 48304, United States of America, or any other domicile notified in
writing by the Process Agent to the Grantor and Agent. This power of attorney is granted in satisfaction of a condition set forth in the Loan Agreement, and it is therefore irrevocable. 

 [Spanish Translation] 

[Cada sociedad mexicana parte del crédito] (la “Sociedad”) otorga en este acto un Poder Especial irrevocable
para Pleitos y Cobranzas en favor de HORIZON GLOBAL CORPORATION, una sociedad existente de conformidad con las leyes de Delaware, Estados Unidos de Norteamérica (el “Agente de Proceso”), de conformidad con el primer
párrafo del artículo dos mil quinientos cincuenta y cuatro del Código Civil Federal y los artículos correspondientes de los Códigos Civiles de todos los estados de los Estados Unidos Mexicanos y el Distrito
Federal. Este Poder Especial es limitado en cuanto a su objeto pero tan amplio como sea necesario en Derecho, y podrá ser ejercido en cualquier jurisdicción, limitado conforme al cuarto párrafo del mencionado artículo
2554 del Código Civil Federal y los artículos correspondientes de los Códigos Civiles de todos los estados de los Estados Unidos Mexicanos y el Distrito Federal, a efecto de que el Agente de Proceso, en nombre y
representación de la Sociedad, realice cualesquiera de los siguientes actos: reciba cualesquiera notificaciones, emplazamientos y cualquier otro tipo de comunicaciones y documentos relacionados con demandas, acciones, procedimientos y
sentencias de todo tipo, incluyendo enunciativa más no limitativamente, derivadas de procedimientos judiciales, administrativos o arbitrales que de cualquier manera se relacionen con (i) el Contrato de Crédito (Amended
and Restated Loan Agreement), según el mismo sea modificado, adicionado o reexpresado ocasionalmente (el “Contrato de Crédito”), celebrado con fecha 22 de diciembre de 2015 entre la Sociedad y Bank of
America, N.A. (el “Agente”), entre otros; y (ii) cualquier otro contrato, instrumento o documento relacionado con el Contrato de Crédito. La Sociedad designa en este acto como su domicilio convencional exclusivamente
para recibir cualesquiera de las notificaciones, emplazamientos, comunicaciones y documentos mencionados con anterioridad, 39400 Avenida Woodward, Suite 100, Bloomfield Hills, Michigan 48304, Estados Unidos de Norteamérica, o cualquier otro
domicilio que notifique por escrito el Agente de Proceso a la Sociedad y al Agente. Este Poder Especial se otorga en cumplimiento de una condición prevista en el Contrato de Crédito, y es por lo tanto irrevocable. 

 EXHIBIT F 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 FORM OF NOTICE OF BORROWING 

See attached. 

 SCHEDULE 1.1(A) 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING LETTERS OF CREDIT 
  

																							
	Instrument #	  	Product	  	Stucky	  	Company	  	Beneficiary	  	 	Outstanding Amount	 	  	 	Liability(In USD)	 	  	Issue Date	  	Expiry
Date	  	Alt Instr # 
	 68114201
	  	 Standby Letter of Credit
	  	 130HGC
	  	HORIZON GLOBAL CORPORATION	  	 NATIONAL UNION
 FIRE INSURANCE CO.
	  	 	USD 300,000.00	 	  	 	300,000.00	 	  	 2015/08/03
	  	 2016/06/30
	  	 
	 									 
	 68113152
	  	 Standby Letter of Credit
	  	 130HGC
	  	HORIZON GLOBAL CORPORATION	  	THE HANOVER INSURANCE COMPANY	  	 	USD 500,000.00	 	  	 	500,000.00	 	  	 2015/06/30
	  	 2016/06/30
	  	 
	 									 
	 68120743
	  	 Standby Letter of Credit
	  	 130HGC
	  	HORIZON GLOBAL CORPORATION	  	CI BANCO SOCIEDAD ANONIMA	  	 	USD 763,980.00	 	  	 	763,980.00	 	  	 2015/10/07
	  	 2016/08/20
	  	 
	 									 
	 68113141
	  	 Standby Letter of Credit
	  	 130HGC
	  	HORIZON GLOBAL CORPORATION	  	JPMORGAN CHASE BANK N.A.	  	 	USD 4,486,480.31	 	  	 	4,486,480.31	 	  	 2015/06/30
	  	 2016/06/30
	  	 
	 									 
	
68114766
	  	 Standby Letter of Credit
	  	 130HGC
	  	HORIZON GLOBAL CORPORATION	  	CIBANCO SOCIEDAD ANONIMA	  	 	USD 367,459.56	 	  	 	367,459.56	 	  	 2015/08/27
	  	 2016/08/27
	  	 

 SCHEDULE 1.1(B) 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 COMMITMENTS OF LENDERS 
  

			
	
Canadian Lender
	  	  

    Canadian Revolver    

Commitment

	Bank of America, N.A. (acting through its Canada branch)	  	$823,529.40

(41.176470588%)

	 Wells Fargo Capital Finance Corporation

Canada
	  	$588,235.29

(29.411764706%)

	Bank of Montreal	  	$588,235.29

(29.411764706%)

	Total:	  	$2,000,000

  

			
	
UK Lender
	  	  

UK
Revolver
        Commitment        

	Bank of America, N.A. (acting through its London branch)	  	$1,235,294.12

(41.176470588%)

	 Wells Fargo Bank, National Association

(London branch)
	  	$882,352.94

(29.411764706%)

	Bank of Montreal	  	$882,352.94

(29.411764706%)

	Total:	  	$3,000,000

  

			
	
U.S. Lender
	  	  

U.S. Revolver

        Commitment        

	Bank of America, N.A.	  	$38,705,882.36

(41.176470588%)

	 Wells Fargo Bank,

National Association
	  	$27,647,058.82

(29.411764706%)

	Bank of Montreal	  	$27,647,058.82

(29.411764706%)

	Total:	  	$94,000,000

 SCHEDULE 9.1.3 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 GOVERNMENTAL LICENSES 

 SCHEDULE 9.1.5 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 REAL PROPERTY 

 SCHEDULE 9.1.6 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 DISCLOSED MATTERS 
  

	1.	 Proceedings and investigations pending against Borrowers or Subsidiaries: 

 

	2.	 Threatened proceedings or investigations of which any Borrower or Subsidiary is aware:

  

	3.	 Environmental matters of which any Borrower or Subsidiary is aware: 

 

	4.	 Pending Commercial Tort Claim(s) of any Obligor: 

 SCHEDULE 9.1.12 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 SUBSIDIARIES 
  

	1.	 The corporate names, jurisdictions of incorporation, and authorized and issued Equity Interests of each
Borrower and Subsidiary are as follows: 

  

							
	
Name
	  	Jurisdiction	  	
Number and Class of Authorized Equity

Interests
	  	
Number and Class
 of Issued
Equity Interests

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

  

	2.	 The record holders of Equity Interests of each Borrower and Subsidiary are as follows:

  

							
	
Name
	  	
Class of Equity

Interests
	  	
Number of Equity

Interests
	  	Record Owner
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

  

	3.	 All agreements binding on holders of Equity Interests of Borrowers and Subsidiaries with respect to such
interests are as follows: 

  

	4.	 In the five years preceding the Closing Date, no Borrower or Subsidiary has acquired any substantial assets
from any other Person nor been the surviving entity in a merger or combination, except: 

  

	5.	 The following Subsidiaries are Obligors: 

 SCHEDULE 9.1.13 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 INSURANCE 

 SCHEDULE 9.1.23 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 MATERIAL CONTRACTS 

 SCHEDULE 10.2.1 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING DEBT 

 SCHEDULE 10.2.2 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING LIENS 

 SCHEDULE 10.2.4 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING INVESTMENTS 

 SCHEDULE 10.2.5 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 PERMITTED ASSET DISPOSITIONS 

 SCHEDULE 10.2.9 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING AFFILIATE TRANSACTIONS 

 SCHEDULE 10.2.10 

to 
 AMENDED AND RESTATED LOAN
AGREEMENT 
 EXISTING RESTRICTIVE AGREEMENTS 

 EXHIBIT B 

Second Amendment to Intercreditor Agreement 

{see attached} 

 SECOND 

AMENDMENT TO 

INTERCREDITOR AGREEMENT 

This Second Amendment to the Intercreditor Agreement (this “Amendment”) is dated as of February 20,
2019, and is by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (the “Borrower”), certain of its subsidiaries signatory hereto (the Borrower and each such Subsidiary a “Grantor”, and
collectively, the “Grantors”), BANK OF AMERICA, N.A. in its capacity as administrative agent and collateral agent for the ABL Lenders and the ABL Secured Parties (the “ABL Agent”), JPMORGAN CHASE BANK,
N.A. in its capacity as administrative agent and collateral agent for the Term Lenders and the Term Secured Parties party to the Term Loan Credit Agreement, as amended, restated, supplemented or otherwise modified from time to time, and
CORTLAND CAPITAL MARKET SERVICES LLC in its capacity as administrative agent and collateral agent for the Term Lenders and Term Secured Parties party to that certain bridge credit agreement, as amended, restated, supplemented or otherwise
modified, dated as of February 20, 2019 by and among the Borrower, the Grantors, the administrative agent and collateral agent and the lenders party thereto from time to time (each a “Term Agent”, and collectively, the
“Term Agents”). 
 RECITALS: 

WHEREAS, the Borrower, Grantors, ABL Agent and Term Agents are party to an Intercreditor Agreement dated as of June 30,
2015 (as amended, restated, supplemented, or otherwise modified before the date of this Amendment, the “Intercreditor Agreement”). 

WHEREAS, the parties desire to modify the Intercreditor Agreement in certain respects. 

NOW, THEREFORE, in consideration of the premises, the parties agree as follows: 

1.        Definitions. Defined terms used but not defined in this Amendment are
as defined in the Intercreditor Agreement. 
 2.        Amendments to Intercreditor
Agreement. With effect as of the effective date, the Intercreditor Agreement is hereby amended with the stricken text deleted (indicated textually in the same manner as the following example: stricken text) and with the double-underlined text added (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Intercreditor Agreement
attached as Exhibit A hereto. 
 3.        Conditions. The
effectiveness of this Amendment is subject to satisfaction of the condition that the ABL Agent and Term Agents have each received this Amendment executed by the ABL Agent, Term Agents and the Grantors. 

4.        Miscellaneous. 

 

	(a)	 This Amendment is governed by, and is to be construed in accordance with laws of the State of New York,
without giving effect to any conflict of law principles except federal laws relating to national banks. Each provision of this Amendment is severable from every other provision of this Amendment for the purpose of determining the legal
enforceability of any specific provision. 

  
 2 

	(b)	 By executing and delivering this Agreement, Horizon International Holdings LLC, a Delaware limited liability
company hereby becomes a party to the Acknowledgement to the Intercreditor Agreement as an ABL Guarantor and Term Guarantor thereunder with the same force and effect as if originally named therein as an ABL Guarantor and Term Guarantor and, without
limiting the generality of the foregoing, hereby expressly assumes all obligations of an ABL Guarantor and Term Guarantor thereunder. 

  

	(c)	 This Amendment binds the ABL Agent, the Term Agents and each Grantor and their respective successors and
assigns, and will inure to the benefit of the ABL Agent, the Term Agents, the Lenders, and each Grantor and the successors and assigns of the ABL Agent, each Term Agent and each Lender. 

 

	(d)	 Except as specifically modified or amended by the terms of this Amendment, all other terms and provisions of
the Intercreditor Agreement are incorporated by reference in this Amendment and in all respects continue in full force and effect. Each Grantor, by execution of this Amendment, hereby reaffirms, assumes, and binds itself to all of the obligations,
duties, rights, covenants, terms, and conditions that are contained in the Intercreditor Agreement. 

  

	(e)	 Each reference in the Intercreditor Agreement to “this Agreement,” “hereunder,”
“hereof,” or words of like import, and each reference to the Intercreditor Agreement in any and all instruments or documents delivered in connection therewith, will be deemed to refer to the Intercreditor Agreement, as amended by this
Amendment. 

  

	(f)	 The parties may sign this Amendment in several counterparts, each of which will be deemed to be an original
but all of which together will constitute one instrument. 

 [Signature pages to follow] 

  
 2 

 ARTICLE IXIN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date first written above. 
  

			
	HORIZON GLOBAL CORPORATION,
	as the Borrower
		
	By:	 	 /s/ Brian
Whittman                                        

		 	 Name:  Brian Whittman

Title:  Vice President, Finance

  
 [Signature Page to
Amendment to ABL/Term Intercreditor Agreement] 

 
					
	 HORIZON GLOBAL COMPANY LLC,

	as a Grantor
			
	      	 	By:	 	 /s/ Brian Whittman

		 		 	Name:  Brian Whittman
		 		 	Title:    Vice President, Finance
	
	HORIZON GLOBAL AMERICAS INC.,
	as a Grantor
			
		 	By:	 	 /s/ Brian Whittman

		 		 	Name:  Brian Whittman
		 		 	Title:    Vice President, Finance
	
	 HORIZON INTERNATIONAL HOLDINGS
LLC, as a Grantor

			
		 	By:	 	 /s/ Brian Whittman

		 		 	  Name:  Brian Whittman
		 		 	  Title:    Vice President, Finance

  
 [Signature Page to
Amendment to ABL/Term Intercreditor Agreement] 

 
			
	BANK OF AMERICA, N.A.,
	 as the ABL Agent

		
	By:	 	  /s/ Kindra Mullarky

		 	 Name:  Kindra Mullarky
		 	 Title:  SVP

  
 [Signature Page to
Amendment to ABL/Term Intercreditor Agreement] 

			
	JPMORGAN CHASE BANK, N.A., as a Term Agent

 
			
		
	By:	 	 /s/ Sabir Hashmy

			
		 	Name:  Sabir Hashmy

 
			
		 	 Title:  Managing Director

  
 [Signature Page to
Amendment to ABL/Term Intercreditor Agreement] 

 
			
	CORTLAND CAPITAL MARKET SERVICES
	 LLC, as a Term Agent

			
		
	By:	 	   /s/ Jessica J.
Mead                                        

 
			
		 	Name:  Jessica J. Mead

 
			
		 	Title:  General Counsel

  
 [Signature Page to
Amendment to ABL/Term Intercreditor Agreement] 

 EXHIBIT A 

Amendments to Intercreditor Agreement 

See attached. 

 “Additional Term Collateral Documents” means, with respect to any
series, issue or class of Additional Term Debt, each of the collateral agreements, security agreements and other instruments and documents executed and delivered by any Term Loan Party for purposes of providing collateral security for any Additional
Term Obligations (including any Amendment or Refinancing thereof). 
 “Additional Term Debt” means
any Indebtedness secured by Liens on the Collateral; provided, that (i) at the time of incurrence thereof, such Indebtedness is permitted by the ABL Documents and the Term Documents to be (x) incurred, (y) guaranteed on a senior, pari passu or junior basis with respect to the Term Obligations outstanding
under the Term Loan Credit Agreement and (z) secured by Liens on the Collateral on a senior, pari passu or junior basis with the Liens on the Collateral securing the Term Obligations outstanding under the Term Loan Credit Agreement and (ii) the conditions set forth in Section 7.20 shall have
been satisfied with respect to such Indebtedness and, unless the agent, trustee or other representative for the holders of such Indebtedness is already a party to this Agreement, such agent, trustee or other representative shall have become a party
to this Agreement pursuant to Section 7.20. 
 “Additional Term Debt Facility” means
each credit facility, indenture or other governing agreement (other than the Term Loan Credit Agreement) with respect to any Additional Term Debt. 

“Additional Term Documents” means, with respect to any series, issue or class of Additional Term Debt,
(a) the Additional Term Debt Facility, (b) the Additional Term Collateral Documents and (c) the other operative agreements evidencing or governing such Indebtedness. 

“Additional Term Joinder” means a Joinder Agreement substantially in the form of Exhibit I hereto or
such other form as agreed by the ABL Agent and each Term Agent. 
 “Additional Term Obligations”
means, with respect to any series, issue or class of Additional Term Debt, all obligations of every nature of each Term Loan Party from time to time owed to the Additional Term Secured Parties, or any of them, under any Additional Term Document,
including, without limitation, all “Obligations” of each Term Loan Party or similar term as defined in any Additional Term Document, whether for principal, interest, fees, expenses, indemnification or otherwise, and all other amounts owing
or due under the terms of the Additional Term Documents (including interest, fees, indemnification payments, expense reimbursements and other amounts which, but for the commencement of an Insolvency Proceeding with respect to such Term Loan Party,
would have accrued on or been payable with respect to any Additional Term Obligation, whether or not a claim is allowed or allowable against such Term Loan Party for such interest, fees, indemnification payments, expense reimbursements and other
amounts in the related Insolvency Proceeding), as the same may be Amended or Refinanced or otherwise modified from time to time in accordance with the terms hereof and thereof. 

“Additional Term Secured Parties” means, with respect to any series, issue or class of Additional Term
Obligations, the holders of such obligations, the agent, trustee or other representative with respect thereto, and the beneficiaries of each indemnification obligation undertaken by any Term Loan Party under any related Additional Term Documents.

 “Affiliate” shall mean, with respect to a specified Person, any other Person that directly or
indirectly through one or more intermediaries Controls, is Controlled by or is under common Control with the Person specified. 

“Agent(s)” means individually the ABL Agent or any Term Agent and collectively means both the ABL
Agent and each Term Agent. 

 permitted to be incurred and secured under each of the then extant ABL
Documents and Term Documents and, if requested, true and complete copies of each of the material Additional Term Documents relating to such Additional Term Debt; and 

(c) (c) the Additional Term Documents relating to such Additional Term Debt shall
provide that each Additional Term Secured Party with respect to such Additional Term Debt will be subject to, and bound by, the provisions of this Agreement in its capacity as a holder of such Additional Term Debt.; and

(d)
             the parties
hereto acknowledge that Cortland Capital Market Services LLC, in its capacity as Administrative Agent (the “Bridge Agent”) under the Credit Agreement, dated as of February 20, 2019, with the Term Loan
Parties and the lenders party thereto (the “Bridge Credit Agreement”), has become a party as a Term Agent and Additional Term Secured Party to this agreement by executing an Additional Term Joinder on February 20, 2019 and that, as
between the Term Agents and the Term Secured Parties on the one side and the ABL Agent and the ABL Secured Parties on the other side, the Bridge Agent and its successors in such capacity shall (i) be deemed to be the
Designated Term Agent until Discharge of Term Obligations owing in respect of the Bridge Credit Agreement and (ii) have the exclusive right and power to exercise all rights and remedies of each of the Term Agents under this Agreement on behalf
of each of the Term Agents and the Term Secured Parties and the ABL Agent and the ABL Secured Parties are hereby authorized and directed by each of the Term Agents to recognize and interact with Bridge Agent
in accordance with the
foregoing on behalf of the Term Agents and Term Secured Parties.

 Section 7.21 Additional Intercreditor Agreements. Notwithstanding anything to the contrary
contained in this Agreement, each party hereto agrees that the Term Secured Parties (as among themselves) may enter into intercreditor agreements (or similar arrangements) with the relevant Term Agents governing the rights, benefits and privileges
of Term Secured Parties with respect to the Term Obligations or a portion thereof (as among themselves), in respect of any or all of the Collateral and the applicable Term Documents, including as to the application of Proceeds of any Collateral,
voting rights, control of any Collateral and waivers with respect to any Collateral, in each case so long as the terms thereof do not violate or conflict with the provisions of this Agreement. 

[SIGNATURE PAGES FOLLOW] 

 Schedule I 

Post-Closing Requirements 
  

	 	1.	 As soon as practicable following the Amendment Effective Date (and in any event, no later than the second
Business Day following the Amendment Effective Date (with extensions to be granted by the Agent at the direction of the Required Lenders)), the Borrowers shall provide evidence in the form of an intercompany note executed by the Borrowers and all
applicable Subsidiaries that indebtedness and other liabilities (whether now existing or hereafter arising) owing by any Obligor as of the Amendment Effective Date to any Subsidiary that is not an Obligor shall be subordinated to the Obligations on
subordination terms reasonably satisfactory to the Agent and the Required Lenders; it being understood that such intercompany note shall be delivered to the Controling Term Loan Agent within two Business Days of the Amendment Effective Date (or such
later date as the Agent may determine in its reasonable discretion). 

  

	 	2.	 The Loan Parties shall take all necessary actions (subject to the Post-Closing Security Principles set out in
paragraph 4 below) to satisfy the items described below within thirty (30) days after the Amendment Effective Date (or, in each case, such longer periods as the Agent, acting at the direction of the Required Lenders, may agree):

  

	 	(a)	 For each Subsidiary domiciled in the United Kingdom: 

 

	 	(i)	 an English law guarantee and debenture over substantially all of its assets; 

 

	 	(ii)	 a share pledge agreement entered into by its shareholder relating to the pledge over its shares; and

  

	 	(iii)	 such other resolutions, legal opinions, documents, instruments and other actions as may be necessary to
effectuate the intent of the parties with respect to the Collateral located in the United Kingdom to create a first priority perfected security interest therein, subject in each case to the Intercreditor Agreement. 

 

	 	(b)	 For each Subsidiary domiciled in Germany: 

 

	 	(i)	 a guarantee; 

  

	 	(ii)	 a share pledge agreement entered into by its shareholder relating to the pledge over its shares; and

  

	 	(iii)	 security over substantially all of its assets located in Germany including but not limited to the following
security documents, if applicable: 

  

	 	(A)	 an account pledge agreement relating to all accounts held by it with banks in Germany;

  

	 	(B)	 a global assignment agreement relating to the assignment of accounts receivable from the selling of goods
and the provision of services as well as other accounts receivable agreed to be assigned 

  
 I-2 

	 	by it (including, but not limited to, insurance claims and intercompany loan receivables); 

  

	 	(C)	 a security transfer agreement relating to the security transfer of all moveable (including stock and
inventory) and fixed assets over which security shall be granted; 

  

	 	(D)	 if it has any such rights, an Intellectual Property pledge agreement relating to the pledge of its
Intellectual Property rights (including, but not limited to, patents, designs, utility models, trademarks, know-how and other Intellectual Property rights); 

  

	 	(E)	 if it owns any real estate, a land charge over the real estate held by it; 

 

	 	(F)	 if it owns any real estate, a security purpose agreement relating to the land charge granted by it; and

  

	 	(G)	 if it is party to any relevant intercompany agreements, a subordination agreement in relation to any
shareholder and intercompany loans and any other applicable, if any, intercompany claims.; and 

  

	 	(iv)	 such other resolutions, legal opinions, documents, instruments and other actions as may be necessary to
effectuate the intent of the parties with respect to the Collateral located in Germany to create a first priority perfected security interest therein, subject in each case to the Intercreditor Agreement. 

 

	 	(c)	 For each Subsidiary domiciled in the Netherlands: 

 

	 	(i)	 a guarantee; 

  

	 	(ii)	 an Omnibus Pledger (or similar agreement); 

 

	 	(iii)	 a share pledge agreement entered into by its shareholder relating to the pledge over its shares; and

  

	 	(iv)	 such other resolutions, legal opinions, documents, instruments and other actions as may be necessary to
effectuate the intent of the parties over the Collateral located in the Netherlands to create a first priority perfected security interest therein, subject in each case to the Intercreditor Agreement. 

 

	 	3.	 Each Subsidiary domiciled in the UK, Germany or the Netherlands shall deliver a New York law-governed
guarantee and security agreement in form and substance satisfactory to the Agent within fourteen (14) days after the Amendment Effective Date (or such longer period as the Agent, acting at the direction of the Required Lenders, may agree).

  

	 	4.	 The guarantees and security obligations to be provided pursuant to this Schedule I will be given in
accordance with customary “agreed security principles” to be agreed in 

  
 I-3 

	 	 
good faith as soon as practicable following the Amendment Effective Date (and in any event, no later than the fifth Business Day following the Amendment Effective Date (or such longer period as
the Agent, acting at the direction of the Required Lenders, may agree)) (the “Post-Closing Security Principles”) which will provide that all guarantees provided and security interests granted shall be first priority guarantees and
security interests, as applicable and subject in each case to the Intercreditor Agreement, and embody a recognition by all parties that there may be certain legal and practical difficulties in obtaining effective or commercially reasonable
guarantees and/or security from all relevant entities in each jurisdiction in which it has been agreed that guarantees and security will be granted. In particular: 

 

	 	(a)	 Guarantees and/or security shall not be created or perfected, or shall be subject to customary limitations,
to the extent that it would result in (i) any breach of corporate benefit, financial assistance, fraudulent preference or thin capitalization laws or regulations (or analogous restrictions) of any applicable jurisdiction, (ii) a
significant risk to the officers of the relevant grantor of security of contravention of their fiduciary duties and/or of civil or criminal liability, (iii) costs, burdens, difficulties or consequences that are disproportionate or excessive to
the benefit obtained by such guarantees and/or security (as agreed by the Borrowers and the Agent) or (iv) a material adverse effect on the ability of the relevant person to conduct its operations and business in the ordinary course as
otherwise permitted by the Loan Documents. For the purposes of this paragraph 4, “cost” includes, but is not limited to, income tax cost, registration taxes payable on the creation, the perfection or for the continuance of any guarantee or
security, stamp duties, out-of-pocket expenses, and other fees and expenses directly incurred by the relevant grantor or any of its direct or indirect owners, subsidiaries or affiliates. 

 

	 	(b)	 As required in the relevant jurisdiction, the security documents should only operate to create security
rather than to impose new commercial obligations or a repeat of clauses in other Loan Documents. Accordingly, the Post-Closing Security Principles will reflect that (i) such security documents should not contain additional representations,
undertakings or indemnities (including, without limitation, in respect of insurance, information, maintenance or protection of assets or the payment of costs) unless these are the same as or consistent with those contained in the Loan Agreement or
are required by law or necessary in the applicable jurisdiction for the provision of a guarantee or the creation or perfection of security interest; and (ii) nothing in any security document shall (or be construed to) prohibit any transaction,
matter or other step (or a grantor taking or entering the same or dealing in any manner whatsoever in relation to any asset (including all rights, claims benefits, proceeds and documentation, and contractual counterparties in relation thereto) the
subject of (or expressed to be the subject of) the security agreement) if not prohibited by the terms of the other Loan Documents or necessary in the applicable jurisdiction for the provision of a guarantee or the creation or perfection of security
interest. 

  

	 	(c)	 Each security document should contain a clause which records that if there is a conflict between the
security document and the Loan Agreement, then (to the extent permitted by applicable law) the provisions of the Loan Agreement will take priority over the provisions of the applicable security document. 

  
 I-4EX-10.3

 EXHIBIT 10.3 

Execution Version 
  

 
 $10,000,000 

CREDIT AGREEMENT 
 dated as of
February 20, 2019, 
 among 

HORIZON GLOBAL CORPORATION, 
 The
Lenders Party Hereto, 
 and 

CORTLAND CAPITAL MARKET SERVICES LLC, 

as Administrative Agent and Collateral Agent, 
  

 

 TABLE OF CONTENTS 
  

					
		  	 	Page	 
	
	 ARTICLE I
	  

	
	 DEFINITIONS
	  

		
	SECTION 1.01         Defined Terms	  	 	1	 
	SECTION 1.02         Classification of Loans and Borrowings	  	 	20	 
	SECTION 1.03         Terms Generally	  	 	20	 
	SECTION 1.04         Accounting Terms; GAAP	  	 	20	 
	
	ARTICLE II	  

	
	THE CREDITS	  

		
	SECTION 2.01         Commitments	  	 	21	 
	SECTION 2.02         Loans and Borrowings	  	 	21	 
	SECTION 2.03         Requests for Borrowings	  	 	21	 
	SECTION 2.04         [Reserved]	  	 	22	 
	SECTION 2.05         [Reserved]	  	 	22	 
	SECTION 2.06         Funding of Borrowings	  	 	22	 
	SECTION 2.07         Interest Elections	  	 	22	 
	SECTION 2.08         Termination of Commitments	  	 	24	 
	SECTION 2.09         Repayment of Loans; Evidence of Debt	  	 	24	 
	SECTION 2.10         Maturity Date	  	 	24	 
	SECTION 2.11         Prepayment of Loans	  	 	24	 
	SECTION 2.12         Fees	  	 	25	 
	SECTION 2.13         Interest	  	 	26	 
	SECTION 2.14         Alternate Rate of Interest	  	 	26	 
	SECTION 2.15         Increased Costs	  	 	27	 
	SECTION 2.16         Break Funding Payments	  	 	28	 
	SECTION 2.17         Taxes	  	 	29	 
	SECTION 2.18         Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	31	 
	SECTION 2.19         Mitigation Obligations; Replacement of Lenders	  	 	32	 
	
	ARTICLE III	  

	
	REPRESENTATIONS AND WARRANTIES	  

		
	SECTION 3.01         Organization; Powers	  	 	33	 
	SECTION 3.02         Authorization; Enforceability	  	 	33	 
	SECTION 3.03         Governmental Approvals; No Conflicts	  	 	33	 
	SECTION 3.04         Financial Condition; No Material Adverse Change	  	 	34	 
	SECTION 3.05         Properties	  	 	34	 
	SECTION 3.06         Litigation and Environmental Matters	  	 	35	 
	SECTION 3.07         Compliance with Laws and Agreements	  	 	35	 
	SECTION 3.08         Investment Company Status	  	 	35	 
	SECTION 3.09         Taxes	  	 	35	 

  
 -i- 

					
		  	 	Page	 
		
	SECTION 3.10         ERISA	  	 	36	 
	SECTION 3.11         Disclosure	  	 	36	 
	SECTION 3.12         Subsidiaries	  	 	36	 
	SECTION 3.13         Insurance	  	 	36	 
	SECTION 3.14         Labor Matters	  	 	36	 
	SECTION 3.15         [Reserved]	  	 	36	 
	SECTION 3.16         Senior Indebtedness	  	 	36	 
	SECTION 3.17         Security Documents	  	 	36	 
	SECTION 3.18         Federal Reserve Regulations	  	 	37	 
	SECTION 3.19         Anti-Corruption Laws and Sanctions	  	 	38	 
	SECTION 3.20         Material Contracts	  	 	38	 
	SECTION 3.21         EEA Financial Institutions	  	 	38	 
	SECTION 3.22         Disclosure	  	 	38	 
	
	ARTICLE IV	  

	
	CONDITIONS	  

		
	SECTION 4.01         Closing Date	  	 	38	 
	
	ARTICLE V	  

	
	AFFIRMATIVE COVENANTS	  

		
	SECTION 5.01         Financial Statements and Other Information	  	 	40	 
	SECTION 5.02         Notices of Material Events	  	 	43	 
	SECTION 5.03         Information Regarding Collateral	  	 	44	 
	SECTION 5.04         Existence; Conduct of Business	  	 	44	 
	SECTION 5.05         Payment of Obligations	  	 	44	 
	SECTION 5.06         Maintenance of Properties	  	 	44	 
	SECTION 5.07         Insurance	  	 	45	 
	SECTION 5.08         Casualty and Condemnation	  	 	45	 
	SECTION 5.09         Books and Records; Inspection and Audit Rights; Lender Calls	  	 	45	 
	SECTION 5.10         Compliance with Laws	  	 	45	 
	SECTION 5.11         Use of Proceeds	  	 	46	 
	SECTION 5.12         [Reserved]	  	 	46	 
	SECTION 5.13         Further Assurances; Post-Closing Covenant	  	 	46	 
	
	ARTICLE VI	  

	
	NEGATIVE COVENANTS	  

		
	SECTION 6.01         Indebtedness; Certain Equity Securities	  	 	47	 
	SECTION 6.02         Liens	  	 	49	 
	SECTION 6.03         Fundamental Changes	  	 	50	 
	SECTION 6.04         Investments, Loans, Advances, Guarantees and Acquisitions	  	 	50	 
	SECTION 6.05         Asset Sales	  	 	52	 
	SECTION 6.06         Sale and Leaseback Transactions	  	 	52	 
	SECTION 6.07         Hedging Agreements	  	 	52	 
	SECTION 6.08         Restricted Payments; Certain Payments of Indebtedness	  	 	53	 
	SECTION 6.09         Transactions with Affiliates	  	 	54	 

  
 -ii- 

					
		  	 	Page	 
		
	 SECTION 6.10         Restrictive
Agreements
	  	 	54	 
	 SECTION 6.11         Amendment of Material
Documents
	  	 	54	 
	 SECTION 6.12         Use of Proceeds
	  	 	55	 
	
	ARTICLE VII	  

	
	EVENTS OF DEFAULT	  

	
	ARTICLE VIII	  

	
	THE AGENTS	  

	
	ARTICLE IX	  

	
	[RESERVED]	  

	
	ARTICLE X	  

	
	MISCELLANEOUS	  

		
	 SECTION 10.01         Notices
	  	 	60	 
	 SECTION 10.02         Waivers; Amendments
	  	 	60	 
	 SECTION 10.03         Expenses; Indemnity; Damage
Waiver
	  	 	62	 
	 SECTION 10.04         Successors and
Assigns
	  	 	63	 
	 SECTION 10.05         Survival
	  	 	65	 
	 SECTION 10.06         Counterparts; Integration;
Effectiveness
	  	 	66	 
	 SECTION 10.07         Severability
	  	 	66	 
	 SECTION 10.08         Right of Setoff
	  	 	66	 
	 SECTION 10.09         Governing Law; Jurisdiction;
Consent to Service of Process
	  	 	66	 
	 SECTION 10.10         WAIVER OF JURY TRIAL
	  	 	67	 
	 SECTION 10.11         Headings
	  	 	67	 
	 SECTION 10.12         Confidentiality
	  	 	67	 
	 SECTION 10.13         Interest Rate
Limitation
	  	 	68	 
	 SECTION 10.14         Intercreditor
Agreements
	  	 	68	 
	 SECTION 10.15         Release of Liens and
Guarantees
	  	 	68	 
	 SECTION 10.16         PATRIOT Act
	  	 	69	 
	 SECTION 10.17         No Fiduciary Duty
	  	 	69	 
	 SECTION 10.18         Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	  	 	69	 

  
 -iii- 

 SCHEDULES: 
  

					
	 Schedule 2.01
	  	 –  
	  	 Commitments

	 Schedule 3.03
	  	 –  
	  	 Governmental Approvals; No Conflicts

	 Schedule 3.05
	  	 –  
	  	 Real Property

	 Schedule 3.06
	  	 –  
	  	 Disclosed Matters

	 Schedule 3.12
	  	 –  
	  	 Subsidiaries

	 Schedule 3.13
	  	 –  
	  	 Insurance

	 Schedule 3.20
	  	 –  
	  	 Material Contracts

	 Schedule 5.13
	  	 –  
	  	 Post-Closing Conditions

	 Schedule 6.01
	  	 –  
	  	 Existing Indebtedness

	 Schedule 6.02
	  	 –  
	  	 Existing Liens

	 Schedule 6.04
	  	 –  
	  	 Existing Investments

	 Schedule 6.05
	  	 –  
	  	 Asset Sales

	 Schedule 6.09
	  	 –  
	  	 Existing Affiliate Transactions

	 Schedule 6.10
	  	 –  
	  	 Existing Restrictions

			
	 EXHIBITS:
	  		  	
			
	 Exhibit A
	  	 –  
	  	 Form of Assignment and Assumption

	 Exhibit B
	  	 –  
	  	 Form of Borrowing Request

	 Exhibit C
	  	 –  
	  	 Form of U.S. Tax Certificate

	 Exhibit D
	  	 –  
	  	 Form of Guarantee and Collateral Agreement

  
 -iv- 

 CREDIT AGREEMENT dated as of February 20, 2019 (this “Agreement”),
among HORIZON GLOBAL CORPORATION, the LENDERS party hereto and CORTLAND CAPITAL MARKET SERVICES LLC, as Administrative Agent and Collateral Agent. 

RECITALS: 
 In consideration of
the premises and the agreements, provisions and covenants herein contained, the parties hereto hereby agree as follows: 
 ARTICLE I 

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

“ABL Agent” means Bank of America, N.A., as administrative agent and/or collateral agent, as applicable, under the ABL Credit
Agreement, and its successors and assigns. 
 “ABL Credit Agreement” means the Amended and Restated Loan Agreement dated as
of December 22, 2015, among the Borrower, the Subsidiaries party thereto as borrowers, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent, as such document or the credit facility thereunder may be
amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement. 

“ABL Foreign Loan Party” means any Foreign Subsidiary that is a party to the ABL Loan Documents as a borrower thereunder
and/or is a party to any ABL Security Document as a grantor or guarantor thereunder. 
 “ABL Guarantee and Collateral
Agreement” means the Guarantee and Collateral Agreement as defined in the ABL Credit Agreement. 
 “ABL Loan”
means a loan made pursuant to the ABL Credit Agreement. 
 “ABL Loan Documents” means collectively (a) the ABL Credit
Agreement, (b) the ABL Security Documents, (c) any promissory note evidencing loans under the ABL Credit Agreement and (d) any amendment, waiver, supplement or other modification to any of the documents described in clauses
(a) through (c), in each case as such documents may be amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement. 

“ABL Priority Collateral” has the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement. 

“ABL Security Documents” means the collective reference to the ABL Guarantee and Collateral Agreement, the Mortgages (as
defined in the ABL Credit Agreement) and all other security documents delivered to the ABL Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Loan Party under the ABL Credit Agreement
or the ABL Guarantee and Collateral Agreement, as such documents may be amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement. 

 “ABL/Term Loan Intercreditor Agreement” means the Intercreditor Agreement,
dated as of June 30, 2015, among the Borrower, the other Loan Parties, the Collateral Agent, the Term Loan Agent and the ABL Agent. 

“ABR,” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Adjusted LIBO Rate” means, with
respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that the Adjusted LIBO Rate shall
not be less than 1.00% per annum. 
 “Administrative Agent” means Cortland Capital Market Services LLC, in its capacity as
administrative agent for the Lenders hereunder. 
 “Administrative Questionnaire” means an Administrative Questionnaire in
a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Agent Fee Letter” means that certain Fee Letter entered into by and among the Administrative Agent and the Borrower, dated
as of the date hereof. 
 “Agents” means, collectively, the Administrative Agent and the Collateral Agent. 

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

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such
day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in dollars with a maturity of one month
plus 1%; provided that the Alternate Base Rate shall not be less than 2.00% per annum. For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be the LIBO Rate, two Business Days prior to such day for deposits in
dollars with a maturity of one month. Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal
Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.14 hereof, then the Alternate Base Rate shall be the greater of clause
(a) and (b) above and shall be determined without reference to clause (c) above. 
 “Anti-Corruption Laws” means
all laws, rules, and regulations of any jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Applicable Law” has the meaning assigned to such term in the ABL Credit Agreement as of the date hereof. 

“Applicable Rate” means, for any day, (a) with respect to any ABR Loan, 5.50% per annum and (b) with respect to any
Eurocurrency Loan, 6.50% per annum. 

  
 -2- 

 “Approved Budget” means a budget of the Borrower delivered on or prior to
the Closing Date setting forth receipts and disbursements of the Borrower and its Subsidiaries, in form and substance acceptable to the Lenders. 

“Approved Fund” means 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) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the
consent of any Person whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

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

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Beneficial Ownership Certification” means a certification regarding beneficial ownership as
required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

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

“Borrower” means Horizon Global Corporation, a Delaware corporation. 

“Borrowing” means Loans of the same Type, made, converted or continued on the same date and as to which a single Interest
Period is in effect. 
 “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.03, which shall be, in the case of any such written request, in the form of Exhibit B or any other form approved by the Administrative Agent. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that when used in connection with any Eurocurrency Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the
London interbank market. 
 “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or
other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such
Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided that any change in GAAP 

  
 -3- 

 
after the Closing Date that would require lease obligations that would have been characterized and accounted for as operating leases in accordance with GAAP as in effect on the Closing Date to be
characterized and accounted for as Capital Lease Obligations shall be disregarded for purposes hereof. 
 “CFC” means a
“controlled foreign corporation” within the meaning of Section 957 of the Code. 
 “Change in Control” means
(a) the acquisition of beneficial ownership, directly or indirectly, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Commission thereunder), of Equity Interests representing more than 35%
of either the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in the Borrower or (b) the occurrence of any change in control (or similar event, however denominated) with respect to the Borrower under
(i) any indenture or other agreement in respect of Material Indebtedness to which the Borrower or any Subsidiary is a party or (ii) any instrument governing any preferred stock of the Borrower or any Subsidiary having a liquidation value
or redemption value in excess of $5,000,000. 
 “Change in Law” means (a) the adoption of any law, rule or regulation
after the date hereof, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date hereof or (c) compliance by any Lender (or, for purposes of
Section 2.15(b), by any lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the
date hereof; provided that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith
and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of the date enacted, adopted, promulgated or issued. 

“Closing Date” means the date on which the conditions specified in Section 4.01 have been satisfied. 

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

“Collateral” means any and all “Collateral,” as defined in any applicable Security Document. 

“Collateral Agent” means Cortland Capital Market Services LLC, in its capacity as collateral agent for the Lenders under the
Security Documents. 
 “Collateral and Guarantee Requirement” means the requirement that: 

(a)    the Collateral Agent shall have received from each party thereto (other than the Collateral Agent)
either (i) a counterpart of the Guarantee and Collateral Agreement duly executed and delivered on behalf of such Loan Party, or (ii) in the case of any Person that becomes a Subsidiary Loan Party after the Closing Date, a supplement to
each of the Guarantee and Collateral Agreement and the Intercreditor Agreements, in each case in the form specified therein, duly executed and delivered on behalf of such Subsidiary Loan Party; 

(b)    all outstanding Equity Interests of the Borrower and each Subsidiary owned by or on behalf of any
Loan Party shall have been pledged pursuant to the Guarantee and Collateral 

  
 -4- 

 
Agreement (except that the Loan Parties shall not be required to pledge more than 65% of the outstanding voting Equity Interests of any Foreign Subsidiary or any CFC (other than with respect to
any Subsidiary Loan Party that is organized under the laws of Germany, the United Kingdom (or any political subdivision thereof), or the Netherlands)) and the Collateral Agent shall have received certificates or other instruments representing all
such Equity Interests, together with stock powers or other instruments of transfer with respect thereto endorsed in blank, to the extent not delivered to the ABL Agent or the Term Loan Agent prior to the Closing Date; 

(c)    all Indebtedness of the Borrower and each Subsidiary in an aggregate principal amount that exceeds
$500,000 that is owing to any Loan Party shall be evidenced by a promissory note and shall have been pledged pursuant to the Guarantee and Collateral Agreement and the Collateral Agent shall have received all such promissory notes, together with
instruments of transfer with respect thereto endorsed in blank; 
 (d)    all documents and instruments,
including Uniform Commercial Code 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 Guarantee and Collateral Agreement and
perfect such Liens to the extent required by, and with the priority required by, the Guarantee and Collateral Agreement (in each case subject to the Intercreditor Agreements), shall have been filed, registered or recorded or delivered to the
Collateral Agent for filing, registration or recording; 
 (e)    the Collateral Agent shall have
received (i) counterparts of a Mortgage with respect to any Mortgaged Property duly executed and delivered by the record owner of such Mortgaged Property, (ii) a policy or policies of title insurance 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 expressly permitted by Section 6.02, together with such endorsements, coinsurance and
reinsurance as the Administrative Agent or the Required Lenders may reasonably request, but only to the extent such endorsements are (A) available in the relevant jurisdiction (provided in no event shall the Collateral Agent request a
creditors’ rights endorsement) and (B) available at commercially reasonable rates, (iii) if any Mortgaged Property is located in an area determined by the Federal Emergency Management Agency to have special flood hazards, evidence of
such flood insurance as may be required under Applicable Law, including Regulation H of the Board of Governors, and an acknowledged notice to the Borrower, (iv) if reasonably requested by the Administrative Agent, a current appraisal of any
Mortgaged Property, prepared by an appraiser acceptable to the Administrative Agent, and in form and substance satisfactory to the Required Lenders (it being understood that if such appraisal is required in order to comply with the Administrative
Agent’s internal policies, such request shall be deemed to be reasonable), (v) if reasonably requested by the Administrative Agent, an environmental assessment with respect to any Mortgaged Property, prepared by environmental engineers
reasonably acceptable to the Administrative Agent, and such other reports, certificates, studies or data with respect to such Mortgaged Property as the Administrative Agent may reasonably require, all in form and substance reasonably satisfactory to
Required Lenders (it being understood that if such assessment or other materials are required in order to comply with the Administrative Agent’s internal policies, such request shall be deemed to be reasonable), and (vi) such abstracts,
legal opinions and other documents as the Administrative Agent or the Required Lenders may reasonably request with respect to any such Mortgage or Mortgaged Property; provided, however, in no event shall surveys be required to be
obtained with respect to any Mortgaged Property; and 

  
 -5- 

 (f)    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 to which it is a party, the performance of its obligations thereunder and the granting by it of the Liens thereunder; 

provided, that, (i) with respect to any Subsidiary Loan Party that is a Foreign Subsidiary organized under the
laws of Germany, the United Kingdom (or any political subdivision thereof), or the Netherlands, the Collateral and Guarantee Requirement shall require the provision of the documents and satisfaction of the requirements set forth in Part B of
Schedule 5.13 and (ii) with respect to any Subsidiary Loan Party that is a Foreign Subsidiary organized under the laws of any other jurisdiction, the Collateral and Guarantee Requirement shall be modified as reasonably requested by the Required
Lenders to reflect the requirements and limitations of the jurisdiction in which such Foreign Subsidiary is organized. 

“Commission” means the Securities and Exchange Commission or any Governmental Authority succeeding to any or all of the
functions of said Commission. 
 “Commitment” means the several and not joint commitment of each Lender to make a Loan to
the Borrower on the Closing Date as set forth on Schedule 2.01. The aggregate amount of all Commitments on the Closing Date is $10,000,000. 

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

“Convertible Notes” means the 2.75% Convertible Senior Notes of the Borrower due 2022 issued pursuant to the Convertible
Notes Indenture. 
 “Convertible Notes Indenture” means the First Supplemental Indenture between the Borrower and Wells
Fargo Bank, National Association, dated as of February 1, 2017. 
 “Default” means any event or condition which
constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 

“Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06. 

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

“Domestic Subsidiary” means any Subsidiary, other than the Foreign Subsidiaries. 

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

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

  
 -6- 

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

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices
or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or threatened Release of any Hazardous
Material or to health and safety matters. 
 “Environmental Liability” means any liabilities, obligations, damages, losses,
claims, actions, suits, judgments, or orders, contingent or otherwise (including any liability for damages, costs of environmental remediation, costs of administrative oversight, fines, natural resource damages, penalties or indemnities), directly
or indirectly resulting from or relating to (a) compliance or non-compliance with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any
Hazardous Materials, (c) any actual or alleged exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing. 
 “Environmental Notice” has the meaning assigned to
such term in the ABL Credit Agreement as of the date hereof. 
 “Equity Interests” means shares of capital stock,
partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person or any warrants, options or other rights to acquire such interests, but excluding any debt
securities convertible into or referencing any of the foregoing. 
 “ERISA” means the Employee Retirement Income Security
Act of 1974, as amended from time to time. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated)
that, together with the 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(b), (c), (m) or (o) of the Code. 
 “ERISA Event” means (a) any “reportable
event,” as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30 day notice period is waived); (b) a failure by any Plan to satisfy the minimum funding
standards (as defined in Section 412 of the Code or Section 302 of ERISA) applicable to such Plan in each instance, whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of
an application for a waiver of the minimum funding standard with respect to any Plan; (d) a determination that any Plan is, or is expected to be, in “at risk” status (as defined in Section 430(i)(4) of the Code or
Section 303(i)(4) of ERISA); (e) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (f) the receipt by the Borrower or any ERISA Affiliate
from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (g) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with
respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (h) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of
any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is 

  
 -7- 

 
expected to be, insolvent, within the meaning of Title IV of ERISA or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or
Section 305 of ERISA). 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurocurrency,” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the
meaning assigned to such term in Article VII. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any
Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder or under any other Loan Document, (a) income or franchise taxes imposed on (or measured by) its net or overall gross income (or
net worth or similar Taxes imposed in lieu thereof) by the United States of America, or by any other jurisdiction as a result of such recipient being organized in or having its principal office in or applicable lending office in such jurisdiction,
or as a result of any other present or former connection (other than a connection arising solely from this Agreement or any other Loan Document) between such recipient and such jurisdiction, (b) any branch profits Taxes imposed by the United
States of America or any similar Tax imposed by any other jurisdiction described in clause (a) above and (c) in the case of a Non-U.S. Lender (other than an assignee pursuant to a request by the
Borrower under Section 2.19(b)), any United States withholding Taxes resulting from any law in effect (x) at the time such Non-U.S. Lender becomes a party to this Agreement or, with respect to any
additional position in any Loan acquired after such Non-U.S. Lender becomes a party hereto, at the time such additional position is acquired by such Non-U.S. Lender or
(y) at the time such Non-U.S. Lender designates a new lending office, except to the extent that such Non-U.S. Lender (or its assignor, if any) was entitled,
immediately prior to designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such United States withholding Tax pursuant to Section 2.17(a), (d) any United States withholding Tax
imposed pursuant to FATCA and (e) any withholding Tax that is attributable to a recipient’s failure to comply with Section 2.17(g). 

“FATCA” means (i) Sections 1471 through 1474 of the Code as of the date of this Agreement or any amended or successor
provision that is substantively comparable and not materially more onerous to comply with, and, in each case, any regulations or official interpretations thereof, (ii) any agreements entered into pursuant to Section 1471(b)(1) of the Code
as of the date of this Agreement or any amended or successor provision as described in clause (i) above and (iii) any law, regulation, rule, promulgation or official agreement implementing an official government agreement with respect to
the foregoing. 
 “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such
day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds
effective rate; provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 

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

 “FLSA” means the Fair Labor Standards Act of 1938, as amended from time to time. 

  
 -8- 

 “Foreign Subsidiary” means any Subsidiary that is organized under the laws
of a jurisdiction other than the United States of America or any State thereof or the District of Columbia. 
 “GAAP” means
generally accepted accounting principles in the United States of America. 
 “Governmental Authority” means the government
of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to
support such Indebtedness or obligation; provided, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guarantee and Collateral Agreement” means the Guarantee and Collateral Agreement, substantially in the form of Exhibit D,
made by the Borrower and the Subsidiary Loan Parties party thereto in favor of the Collateral Agent for the benefit of the Secured Parties. 

“Hazardous Materials” means all explosive, radioactive, hazardous or toxic substances, wastes or other pollutants, including
petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 

“Hedging Agreement” means any interest rate protection agreement, foreign currency exchange agreement, commodity price
protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 
 “Immaterial
Subsidiary” means, at any date, any Subsidiary of the Borrower that, together with its consolidated Subsidiaries (i) does not, as of the last day of the fiscal quarter of the Borrower most recently ended on or prior to such date for
which financial statements are available, have assets with a value in excess of 2.5% of the consolidated total assets of the Borrower and its consolidated Subsidiaries and (ii) did not, during the period of four consecutive fiscal quarters of
the Borrower most recently ended on or prior to such date for which financial statements are available, have revenues exceeding 2.5% of the total revenues of the Borrower and its consolidated Subsidiaries; provided that, the aggregate assets
or revenues of all Immaterial Subsidiaries, determined in accordance with GAAP, may not exceed 5.0% of consolidated assets or consolidated revenues, respectively, of the Borrower and its consolidated Subsidiaries, collectively, at any time (and the
Borrower will promptly designate in writing to the Administrative Agent the Subsidiaries which will cease to be treated as “Immaterial Subsidiaries” in order to comply with the foregoing limitation). 

  
 -9- 

 “Impacted Interest Period” has the meaning assigned to such term in the
definition of “LIBO Rate.” 
 “Indebtedness” of any Person means, without duplication, (a) all obligations
of such Person for borrowed money or with respect to advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are
customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of
property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be
secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such
Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such Person in respect of bankers’
acceptances and (k) solely for purposes of Section 6.01 hereof, any and all payment obligations of such Person under or Guarantee by such Person with respect to any Hedging Agreement. The Indebtedness of any Person shall include the
Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity,
except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. Notwithstanding anything to the contrary in this paragraph, the term “Indebtedness” shall not include (a) agreements providing
for indemnification, purchase price adjustments or similar obligations incurred or assumed in connection with the acquisition or disposition of assets or capital stock and (b) trade payables and accrued expenses in each case arising in the
ordinary course of business. 
 “Indemnified Taxes” means (a) any Taxes, other than Excluded Taxes, and (b) Other
Taxes. 
 “Intellectual Property Claim” has the meaning assigned to such term in the ABL Credit Agreement as of the date
hereof. 
 “Intercreditor Agreements” means the ABL/Term Loan Intercreditor Agreement and the Term Intercreditor Agreement.

 “Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.07. 
 “Interest Payment Date” means (a) with respect to any ABR Loan, the last Business Day of each
March, June, September and December and (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest Period
of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period. 

“Interest Period” means, with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one month thereafter, as the Borrower may elect; provided that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall
be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (b) any Interest Period

  
 -10- 

 
that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the
last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion
or continuation of such Borrowing. 
 “Interpolated Rate” means, at any time, the rate per annum (rounded to the same
number of decimal places as the Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between:
(a) the Screen Rate (for the longest period for which that Screen Rate is available for dollars) that is shorter than the Impacted Interest Period and (b) the Screen Rate (for the shortest period for which that Screen Rate is available for
dollars) that exceeds the Impacted Interest Period, in each case, as of the Specified Time on the Quotation Day for such Interest Period. When determining the rate for a period which is less than the shortest period for which the Screen Rate is
available, the Screen Rate for purposes of clause (a) above shall be deemed to be the overnight rate for dollars determined by the Administrative Agent from such service as the Administrative Agent may select. 

“IRS” means the United States Internal Revenue Service. 

“Latest Maturing Loans” has the meaning assigned to such term in the definition of “Latest Maturity Date”. 

“Latest Maturity Date” means, as of any date of determination, the latest Maturity Date applicable to any Loans outstanding
or Commitments in effect hereunder (such latest maturing Loans or Commitments, the “Latest Maturing Loans”). 

“Lender Affiliate” means, (a) with respect to any Lender, (i) an Affiliate of such Lender or (ii) any entity
(whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by a
Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund that invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by
the same investment advisor as such Lender or by an Affiliate of such investment advisor. 
 “Lenders” means any Person
that is a lender of Loans on the Closing Date or that shall have become a party hereto after the Closing Date pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and
Assumption. 
 “LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, a rate per annum
equal to the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for dollars for a period equal in length to such Interest Period as displayed on the
applicable Bloomberg screen page that displays such rate (or, in the event such rate does not appear on such Bloomberg page, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other
information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; in each case the “Screen Rate”) as of the Specified Time on the Quotation Day for such Interest
Period; provided that if the Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement; provided further that if the Screen Rate shall not be available at such time for such
Interest Period (an “Impacted Interest Period”) with respect to dollars, then the LIBO Rate shall be the Interpolated Rate at such time (provided that if the Interpolated Rate shall be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement). 

  
 -11- 

 “Lien” means, with respect to any asset, (a) any mortgage, deed of
trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” means this Agreement, the Agent Fee Letter, the Security Documents, the ABL/Term Loan Intercreditor
Agreement, the Term Intercreditor Agreement and the promissory notes, if any, executed and delivered pursuant to Section 2.09(e). 

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

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, properties, assets, financial
condition, or material agreements of the Borrower and the Subsidiaries, taken as a whole, (b) the ability of any Loan Party in any material respect to perform any of its obligations under any Loan Document or (c) the rights of or benefits
available to the Lenders under any Loan Document. 
 “Material Agreements” means any agreements or instruments relating to
Material Indebtedness. 
 “Material Indebtedness” means (a) obligations in respect of the ABL Credit Agreement or the
Term Loan Credit Agreement and (b) any other Indebtedness (other than the Loans), or obligations in respect of one or more Hedging Agreements, of any one or more of the Borrower and its Subsidiaries in an aggregate principal amount exceeding
$2,500,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving
effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Hedging Agreement were terminated at such time. 

“Maturity Date” means February 28, 2019. 

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

“Mortgage” means a mortgage, deed of trust, assignment of leases and rents, leasehold mortgage or other security document
granting a Lien on any Mortgaged Property to secure the Obligations. Each Mortgage shall be in form and substance reasonably satisfactory to the Administrative Agent. 

“Mortgaged Property” means each parcel of real property and improvements thereto with respect to which a Mortgage is granted
pursuant to Section 5.12 or 5.13. 
 “Multiemployer Plan” means a multiemployer plan as defined in
Section 4001(a)(3) of ERISA. 

  
 -12- 

 “Net Proceeds” means, with respect to any event (a) the cash proceeds
received in respect of such event including (i) any cash received in respect of any noncash proceeds, but only as and when received, (ii) in the case of a casualty, insurance proceeds in excess of $500,000 and (iii) in the case of a
condemnation or similar event, condemnation awards and similar payments, net of (b) the sum of (i) all reasonable fees and out-of-pocket expenses paid by the
Borrower and the Subsidiaries to third parties (other than Affiliates) in connection with such event, (ii) in the case of a sale, transfer or other disposition of an asset (including pursuant to a sale and leaseback transaction or a casualty or
a condemnation or similar proceeding), the amount of all payments required to be made by the Borrower and the Subsidiaries as a result of such event to repay Indebtedness (other than Loans or loans under the Term Loan Credit Agreement) secured by
such asset or otherwise subject to mandatory prepayment as a result of such event, and (iii) the amount of all Taxes paid (or reasonably estimated to be payable) by the Borrower and the Subsidiaries, and the amount of any reserves established
by the Borrower and the Subsidiaries to fund contingent liabilities reasonably estimated to be payable, in each case during the 24-month period immediately following such event and that are directly
attributable to such event (as determined reasonably and in good faith by the chief financial officer of the Borrower) to the extent such liabilities are actually paid within such applicable time periods. 

“Non-Consenting Lender” has the meaning assigned to such term in
Section 10.02(c). 
 “Non-U.S. Lender” means a Lender that is not a U.S.
Person. 
 “NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Banking Day, for the immediately preceding Banking Day); provided that if none of such rates are published for any day that is a Business Day, the
term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received to the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any
of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Obligations” has the meaning assigned to such term in the Guarantee and Collateral Agreement. 

“OSHA” means the Occupational Safety and Hazard Act of 1970. 

“Other Taxes” means any present or future stamp, court, documentary, intangible, recording, filing or similar excise or
property Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, or from the registration, receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such Taxes imposed with respect to an assignment (other than an assignment under Section 2.19(b)). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both over-night federal funds and overnight
Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the
NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate). 

“Participant” has the meaning assigned to such term in Section 10.04(e). 

  
 -13- 

 “Participant Register” has the meaning assigned to such term in
Section 10.04(e). 
 “PATRIOT Act” has the meaning assigned to such term in Section 10.16. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Perfection Certificate” means a certificate in the form of Exhibit F hereto or any other form
approved by the Collateral Agent. 
 “Permitted Encumbrances” means: 

(a)    Liens imposed by law for taxes that are not yet due or are being contested in compliance with
Section 5.05; 
 (b)    carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with Section 5.05; 

(c)    pledges and deposits made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations; 
 (d)    deposits
to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e)    judgment Liens in respect of judgments that do not constitute an Event of Default under clause
(k) of Article VII; 
 (f)    easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of
the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary; 

(g)    ground leases in respect of real property on which facilities owned or leased by the Borrower or
any of the Subsidiaries are located, other than any Mortgaged Property; 
 (h)    Liens in favor or
customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 

(i)    leases or subleases granted to other Persons and not interfering in any material respect with the
business of the Borrower and the Subsidiaries, taken as a whole; 
 (j)    banker’s liens, rights
of set-off or similar rights, in each case arising by operation of law; and 

(k)    Liens in favor of a landlord on leasehold improvements in leased premises; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

  
 -14- 

 “Permitted Investments” means: 

(a)    direct obligations of, or obligations the principal of and interest on which are unconditionally
guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition
thereof; 
 (b)    investments in commercial paper maturing within one year from the date of acquisition
thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody’s; 

(c)    investments in certificates of deposit, banker’s acceptances and time deposits maturing within
one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States of America or any
State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000; 

(d)    fully collateralized repurchase agreements with a term of not more than 30 days for securities
described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; 

(e)    securities issued by any state of the United States of America or any political subdivision of any
such state or any public instrumentality thereof having maturities of not more than six months from the date of acquisition thereof and, at the time of acquisition, having the highest credit rating obtainable from S&P or from Moody’s; 

(f)    securities issued by any foreign government or any political subdivision of any foreign government
or any public instrumentality thereof having maturities of not more than six months from the date of acquisition thereof and, at the time of acquisition, having the highest credit rating obtainable from S&P or from Moody’s; 

(g)    investments of the quality as those identified on Schedule 6.04 as “Qualified Foreign
Investments” made in the ordinary course of business; 
 (h)    cash; and 

(i)    investments in funds that invest solely in one or more types of securities described in clauses
(a), (e) and (f) above. 
 “Person” means any natural person, corporation, limited liability company, trust, joint
venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension
benefit plan (other than a Multiemployer 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 the 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. 

“Prepayment Event” means: 

  
 -15- 

 (a)    any sale, transfer or other disposition (including pursuant to a
sale and leaseback transaction) of any property or asset of the Borrower or any Subsidiary, other than dispositions described in clauses (a), (b), (d) and (g) of Section 6.05; or 

(b)    any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar
proceeding of, any property or asset of the Borrower or any Subsidiary having a book value or fair market value in excess of $500,000, but only to the extent that the Net Proceeds therefrom have not been applied to repair, restore or replace such
property or asset within 365 days after such event; 
 (c)    the receipt of any cash by the Borrower or any Subsidiary
not in the ordinary course of business, including without limitation (a) tax refunds, (b) pension plan reversions, (c) proceeds of insurance (including key man life insurance, but excluding Net Proceeds described in clause
(b) above), (d) judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action, (e) indemnity payments and (f) any purchase price adjustment received in connection with any purchase
agreement to the extent not needed to reimburse the Borrower or applicable Subsidiary for any reasonable and customary out-of-pockets costs and expenses previously
incurred by the Borrower or applicable Subsidiary with respect to which such purchase price adjustment was received; 

(d)    the receipt of cash from any issuance of Equity Interests of the Borrower or any contribution of equity capital to
the Borrower; or 
 (e)    the incurrence by the Borrower or any Subsidiary of any Indebtedness, other than Indebtedness
permitted by Section 6.01(a). 
 “Prime Rate” means the per annum rate of interest publicly quoted from time to time
by The Wall Street Journal as the “Prime Rate” in the United States (or, if The Wall Street Journal ceases quoting a prime rate of the type described, either (as determined by the Administrative Agent) (x) the per annum rate quoted as
the base rate on such corporate loans in a different national publication as reasonably selected by Administrative Agent or (y) the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release
H.15 (519) entitled “Selected Interest Rates” as the bank prime loan rate or its equivalent) or any similar release by the Federal Reserve Board. 

“Public-Sider” means a Lender whose representatives may trade in securities of the Borrower or any of its Subsidiaries while
in possession of the financial statements provided by the Borrower under the terms of this Agreement. 
 “Quotation Day”
means, with respect to any Eurocurrency Loan for any Interest Period, two Business Days prior to the commencement of such Interest Period. 

“Real Estate” has the meaning assigned to such term in the ABL Credit Agreement as of the date hereof. 

“Register” has the meaning assigned to such term in Section 10.04(c). 

“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. 

  
 -16- 

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

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

“Required Lenders” means, at any time, Lenders having outstanding Loans representing more than 50% of the outstanding Loans
at such time. 
 “Restricted Indebtedness” means Indebtedness of the Borrower or any Subsidiary, the payment, prepayment,
redemption, repurchase or defeasance of which is restricted under Section 6.08(b). 
 “Restricted Payment” means any
dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any partial or full cash
settlement of Convertible Notes, sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancelation or termination of any Equity Interests in the Borrower or any Subsidiary or any option, warrant or other
right to acquire any such Equity Interests in the Borrower or any Subsidiary. 
 “Rolling
13-Week Cash Flow Forecast” has the meaning assigned to such term in Section 5.01(j). 

“S&P” means Standard & Poor’s Financial Services LLC, or any successor thereto. 

“Sanctioned Country” means, at any time, a country, region or territory which is itself the subject or target of any
Sanctions (at the time of this Agreement, the Crimea region of Ukraine, Cuba, Iran, North Korea, Sudan and Syria). 
 “Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the
United Nations Security Council, the European Union or any European Union member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described
in the foregoing clauses (a) or (b). 
 “Sanctions” means all economic or financial sanctions or trade embargoes
imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or (b) the United
Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom. 
 “Screen Rate” has the
meaning assigned to such term in the definition of “LIBO Rate”. 
 “Secured Parties” has the meaning assigned to
such term in the Guarantee and Collateral Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended. 

  
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 “Security Documents” means the Guarantee and Collateral Agreement, the
Intercreditor Agreements, the Mortgages and each other security agreement or other instrument or document executed and delivered pursuant to Section 5.12 or 5.13 to secure any of the Obligations. 

“Specified Time” means 11:00 a.m., London time. 

“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is
subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such
Regulation D. Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any
Lender under any Applicable Law. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Subordinated Debt” means any subordinated Indebtedness of the Borrower or any Subsidiary. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with
GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the ordinary voting power or, in the
case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the
parent and one or more subsidiaries of the parent. 
 “Subsidiary” means any subsidiary of the Borrower. 

“Subsidiary Loan Party” means any Subsidiary that is not (i) a Foreign Subsidiary (other than any Foreign Subsidiary
organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands), (ii) a CFC (other than any CFC organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the
Netherlands), (iii) a U.S. Holdco or (iv) an Immaterial Subsidiary; provided, that the Required Lenders, in their sole discretion, may at any time request any Foreign Subsidiary, CFC or U.S. Holdco to become a Subsidiary Loan Party. 

“Supermajority Lenders” means, at any time, Lenders having outstanding Loans and Commitments representing more than 66 2/3%
of the outstanding Loans and Commitments at such time. 
 “Synthetic Purchase Agreement” means any swap, derivative or
other agreement or combination of agreements pursuant to which the Borrower or a Subsidiary is or may become obligated to make (i) any payment (other than in the form of Equity Interests in the Borrower) in connection with a purchase by a third
party from a Person other than the Borrower or a Subsidiary of any Equity Interest or Restricted Indebtedness or (ii) any payment (other than on account of a permitted purchase by it of any Equity Interest or any Restricted Indebtedness) the
amount of which is determined by reference to the price or value at any time of any Equity Interest or Restricted Indebtedness; provided that phantom stock or similar plans providing for payments only to current or former directors, officers,
consultants, advisors 

  
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or employees of the Borrower or the Subsidiaries (or to their heirs or estates) shall not be deemed to be Synthetic Purchase Agreements. 

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

“Term Collateral Proceeds Account” means a deposit account identified to the ABL Agent in writing from time to time and in
the name of the Company and for which the Term Loan Agent is the depositary bank which contains (or was established to contain) only those proceeds with respect to Term Priority Collateral. 

“Term Intercreditor Agreement” means that Intercreditor Agreement, dated as of the date hereof, among the Borrower, the other
Loan Parties, the Collateral Agent and the Term Loan Agent. 
 “Term Loan Agent” means the Administrative Agent under the
Term Loan Credit Agreement. 
 “Term Loan Credit Agreement” means the Term Loan Credit Agreement, dated as of June 30,
2015, by and among Horizon Global Corporation, the several banks and other financial institutions or entities from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 

“Term Loan Security Documents” means the “Security Documents” as defined in the Term Loan Credit Agreement. 

“Term Priority Collateral” has the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement. 

“Transactions” means, collectively, (a) the execution, delivery and performance by each Loan Party of the Loan Documents
to which it is to be a party, the borrowing of the Loans on the Closing Date and the use of proceeds thereof, (b) the amendments to the Term Loan Credit Agreement, the ABL Credit Agreement and the ABL/Term Loan Intercreditor Agreement, and
(c) the payment of the fees and expenses payable in connection with the foregoing. 
 “Type,” when used in reference
to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 

“U.S. Holdco” means any existing or future Domestic Subsidiary the Equity Interests of which are held solely by Foreign
Subsidiaries (other than Foreign Subsidiaries organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands); provided that such existing or newly formed Subsidiary shall not engage in any
business or own any assets other than the ownership of Equity Interests in Foreign Subsidiaries and intercompany obligations that are otherwise permitted hereunder. 

“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 “U.S. Tax Certificate” has the meaning assigned to such term in Section 2.17(f)(i)(D)(2). 

  
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 “Withdrawal Liability” means liability to a Multiemployer Plan as a result
of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Work Fee” has the meaning assigned to such term in Section 2.12(b). 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 
 SECTION 1.02    Classification of Loans and
Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Type (e.g., a “Eurocurrency Loan”). Borrowings also may be classified and referred to by Type (e.g., a “Eurocurrency Borrowing”). 

SECTION 1.03    Terms Generally. The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) any definition of or reference to
any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and
words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles
and Sections of, and Exhibits and Schedules to, this Agreement; and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights. 
 SECTION 1.04    Accounting Terms; GAAP.
Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that if the Borrower notifies the Administrative Agent that the
Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the
Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), 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. 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, without giving effect to (i) any election under Accounting Standards
Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial
Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value,” as defined therein and (ii) any treatment of Indebtedness in respect of
convertible debt instruments or any other Indebtedness 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. 

  
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 ARTICLE II 

The Credits 
 SECTION
2.01    Commitments. 
 (a)    Subject to the terms and conditions set forth herein, each
Lender agrees to make a Loan to the Borrower on the Closing Date in a principal amount equal to its Commitment. 

(b)    Amounts repaid or prepaid in respect of Loans may not be reborrowed. 

SECTION 2.02    Loans and Borrowings. 

(a)    Each Loan shall be made as part of a Borrowing consisting of Loans of the same Type made by the Lenders ratably in
accordance with their respective Commitments. 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. 
 (b)    [Reserved] 

(c)    Subject to Section 2.14, each Loan shall be comprised entirely of ABR Loans or Eurocurrency Loans as the
Borrower may request in accordance herewith. Each Lender at its option may make any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (d)    At
the commencement of each Interest Period for any Eurocurrency Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such
Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000. Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a
total of 3 Eurocurrency Borrowings outstanding. 
 (e)    Notwithstanding any other provision of this Agreement, the
Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable thereto. 

SECTION 2.03    Requests for Borrowings. To request a Borrowing of Loans, the Borrower shall notify the
Administrative Agent of such request in writing (i) in the case of a Eurocurrency Borrowing, not later than 12:00 noon, New York City time, three Business Days before the date of the proposed Borrowing or (ii) in the case of an ABR
Borrowing, not later than 12:00 noon, New York City time, two Business Days before the date of the proposed Borrowing. Each such Borrowing Request shall be irrevocable and shall be delivered by hand, email or telecopy to the Administrative Agent of
a written Borrowing Request signed by the Borrower. Each such written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i)    the aggregate amount of such Borrowing; 

(ii)    the date of such Borrowing, which shall be a Business Day; 

  
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 (iii)    whether such Borrowing is to be an ABR
Borrowing or a Eurocurrency Borrowing; 
 (iv)    in the case of a Eurocurrency Borrowing, the initial
Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and 

(v)    the location and number of the Borrower’s account to which funds are to be disbursed, which
shall comply with the requirements of Section 2.06. 
 If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be
an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing
Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

SECTION 2.04    [Reserved]. 

SECTION 2.05    [Reserved]. 

SECTION 2.06    Funding of Borrowings. 

(a)    Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds by 12:00 noon, New York City time to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. Upon receipt of all requested funds, the Administrative Agent will
make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower designated by the Borrower in the applicable Borrowing Request. 

(b)    Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any
Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph
(a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent,
then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the
Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of (x) the Federal Funds Effective Rate and (y) a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation, the applicable rate shall be determined as specified in clause (y) above, or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to
the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 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 Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.03. Thereafter, the Borrower may elect to
(i) convert any ABR Borrowing or any Eurocurrency Borrowing to a Borrowing of a different 

  
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Type, (ii) continue any Borrowing and (iii) in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect
different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion
shall be considered a separate Borrowing. 
 (b)    To make an election pursuant to this Section, the Borrower shall
notify the Administrative Agent of such election, in writing, by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of Loans 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 shall be by hand delivery, email or telecopy to the Administrative Agent of a written Interest Election Request, and all such written Interest Election
Requests shall be in a form approved by the Administrative Agent and signed by the 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; 
 (iii)    whether the resulting Borrowing is to be an ABR
Borrowing or a Eurocurrency Borrowing; and 
 (iv)    if the resulting Borrowing is a Eurocurrency
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” 

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

(e)    If an Interest Election Request with respect to a Eurocurrency Borrowing is not timely delivered 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 Borrowing. Notwithstanding any contrary provision hereof, if an Event
of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or
continued as a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

  
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 SECTION 2.08    Termination of Commitments. 

The Commitments shall terminate and be automatically and permanently reduced to $0 upon the earlier of the funding of the Loans and 5:00 p.m.,
New York City time, on February 20, 2019. 
 SECTION 2.09    Repayment of Loans; Evidence of Debt. 

(a)    The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the
then unpaid principal amount of each Loan of such Lender as provided in Section 2.10. 
 (b)    Each Lender shall
maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such
Lender from time to time hereunder. 
 (c)    The Administrative Agent shall maintain accounts in which it shall record
(i) the amount of each Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder
and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 

(d)    The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima
facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation
of the Borrower to repay the Loans in accordance with the terms of this Agreement; provided further, that in the event of any conflict between the records maintained pursuant to this section, the records maintained pursuant to paragraph
2.09(c) shall govern. 
 (e)    Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrower 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). Thereafter, the Loans evidenced by such
promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such form payable to the order of the payee and its registered assigns. 

SECTION 2.10    Maturity Date. 

(a)    To the extent not previously paid, all Loans shall be due and payable on the Maturity Date. 

SECTION 2.11    Prepayment of Loans. 

(a)    The Borrower shall not have the right to voluntarily prepay any Borrowing in whole or in part without the consent
of the Required Lenders, unless, substantially simultaneously therewith, it also repays all then outstanding loans and other obligations under the Term Loan Credit Agreement. 

(b)    [Reserved]. 

  
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 (c)    In the event and on each occasion that any Net Proceeds are
received by or on behalf of the Borrower or any Subsidiary in respect of any Prepayment Event, the Borrower shall, within three Business Days after such Net Proceeds are received (and, in the case of any event described in clause (e) of the
definition of the term Prepayment Event, on the date on which such Net Proceeds are received) prepay Borrowings of Loans in an aggregate amount equal to such Net Proceeds. 

(d)    [Reserved]. 

(e)    Prior to any optional or mandatory prepayment of Borrowings hereunder, the Borrower shall select the Borrowing or
Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (f) of this Section. 

(f)    The Borrower shall notify the Administrative Agent by (x) in the case of prepayment of a Eurocurrency
Borrowing, not later than 12:00 noon, New York City time, three Business Days before the date of prepayment and (y) in the case of prepayment of an ABR Borrowing, not later than 12:00 noon, New York City time, one Business Day before the date
of prepayment. Each such notice shall be irrevocable and shall specify (i) whether the prepayment is of Eurocurrency Loans or ABR Loans, (ii) the prepayment date, (iii) the principal amount of each Borrowing or portion thereof to be
prepaid and (iv) in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents
thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a
mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13. 

SECTION 2.12    Fees. 

(a)    The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the
times as set forth in the Agent Fee Letter. 
 (b)    On the Maturity Date, or on the date of a prepayment or repayment
of any Loans in part or in full, voluntarily, mandatorily, or upon acceleration of the Loans for any reason, or on any date on which the Loans become due and payable for any reason, the Borrower shall pay to the Administrative Agent, for the ratable
benefit of the Lenders, a work fee equal to $250,000 (the “Work Fee”). The Work Fee shall be fully and irrevocably due and payable in cash on the Maturity Date, or such date of prepayment or repayment, voluntarily, mandatorily or
upon acceleration of the Loans for any reason, or on any date on which the Loans becomes due and payable for any reason. The Work Fee shall be earned by the Lenders upon the funding of the Loans as a fee in consideration of the Commitments and the
making of the Loans and for the time and costs expended in extending the Commitments and the making of the Loans. It is understood and agreed that if the Loans are accelerated pursuant to this Agreement for any reason, including without limitation
because of the commencement of any insolvency proceeding or other proceeding pursuant to any debtor relief laws (including the acceleration of claims by operation of law), the Work Fee payable pursuant to Section 2.12(b) determined as of the
date of acceleration will also be due and payable as though the Loans were voluntarily repaid as of such date and shall constitute part of the Obligations in respect of the Loans, in view of the impracticability and extreme difficulty of
ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of each Lender’s lost profits as a result thereof. The Work Fee payable in accordance with the immediately preceding sentence shall be presumed to
be for the time and costs expended in extending the Commitments and making the Loans and the Borrower agrees that it is reasonable under the circumstances currently existing. The Work Fee shall also be payable in the event the Loans are satisfied or
released by foreclosure 

  
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(whether by power of judicial proceeding or otherwise) or deed in lieu of foreclosure. THE BORROWER EXPRESSLY WAIVES THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY
PROHIBIT THE COLLECTION OF THE WORK FEE IN CONNECTION WITH ANY SUCH ACCELERATION INCLUDING IN CONNECTION WITH ANY VOLUNTARY OR INVOLUNTARY ACCELERATION OF THE LOANS PURSUANT TO ANY INSOLVENCY PROCEEDING OR OTHER PROCEEDING PURSUANT TO ANY DEBTOR
RELIEF LAWS. The Borrower expressly agrees that: (A) the Work Fee is reasonable and is the product of an arm’s length transaction between sophisticated business people, ably represented by counsel; (B) the Work Fee shall be payable
notwithstanding the then prevailing market rates at the time payment is made; (C) there has been a course of conduct between the Lenders and the Borrower giving specific consideration in this transaction for such agreement to pay the Work Fee;
and (D) the Borrower shall be estopped hereafter from claiming differently than as agreed to in this paragraph. The Borrower expressly acknowledges that its agreement to pay the Work Fee to the Lenders as herein described is a material
inducement for the Lenders to provide the Commitment and provide the Loans. 
 (c)    All fees payable hereunder shall
be paid on the dates due, in immediately available funds, to the Administrative Agent. Fees paid shall not be refundable under any circumstances. 

SECTION 2.13    Interest. 

(a)    The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Rate.

 (b)    The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the
Interest Period in effect for such Borrowing plus the Applicable Rate. 
 (c)    Notwithstanding the foregoing, if any
principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) 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 or (ii) in the case of any other overdue
amount payable, 2% plus the rate applicable to ABR Loans. 
 (d)    Accrued interest on each Loan shall be payable in
arrears on each Interest Payment Date for such Loan; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan, accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency Loan prior to the end of the current Interest Period therefor, accrued
interest on such Loan shall be payable on the effective date of such conversion. 
 (e)    All interest hereunder shall
be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or
366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the
Administrative Agent, and such determination shall be conclusive absent manifest error. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of an Adjusted LIBO Rate. 

SECTION 2.14    Alternate Rate of Interest. 

  
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 (a)    If prior to the commencement of any Interest Period for a
Eurocurrency Borrowing: 
 (i)    the Administrative Agent determines (which determination shall be
conclusive absent manifest error) that adequate and reasonable means (including by means of an Interpolated Rate or because the Screen Rate is not available or published on a current basis) do not exist for ascertaining the LIBO Rate or the Adjusted
LIBO Rate for such Interest Period; or 
 (ii)    the Administrative Agent is advised by a majority in
interest of the Lenders that the Adjusted LIBO Rate or LIBO Rate, as applicable for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loans) included in such
Borrowing for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by email, telephone or
telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and such Lenders that the circumstances giving rise to such notice no longer exist, then (i) any Interest Election Request that requests
the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurocurrency Borrowing shall be ineffective, (ii) any Eurocurrency Borrowing that is requested to be continued, shall be converted to an ABR Borrowing on the last day of
the then current Interest Period applicable thereto and (iii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. 

(b)    If any Lender determines that any Applicable Law has made it unlawful, or if any Governmental Authority has
asserted that it is unlawful, for any Lender or its applicable lending office to make, maintain, fund or continue any Eurodollar Borrowing, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase
or sell, or to take deposits of, dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligations of such Lender to make, maintain, fund or continue Eurocurrency Loans
or to convert ABR Borrowings to Eurodollar Borrowings will be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the
Borrower will upon demand from such Lender (with a copy to the Administrative Agent), either convert or prepay all Eurodollar Borrowings of such Lender to ABR Borrowings, either on the last day of the Interest Period therefor, if such Lender may
lawfully continue to maintain such Eurodollar Borrowings to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans. Upon any such conversion or prepayment, the Borrower will also pay accrued interest on the amount
so converted or prepaid. 
 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 Adjusted LIBO Rate); 

(ii)    impose on any Lender or the London interbank market any other condition affecting this Agreement
or Eurocurrency Loans made by such Lender; or 
 (iii)    subject any Lender to any Taxes on its loans,
loan principal, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto (other 

  
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than (A) Indemnified Taxes otherwise indemnifiable under Section 2.17 and (B) Excluded Taxes); 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurocurrency Loan (or of maintaining its
obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender such additional amount or amounts as will
compensate such Lender for such additional costs incurred or reduction suffered. 
 (b)    If any Lender determines that
any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this
Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such
Lender’s holding company with respect to capital adequacy or liquidity), then from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any
such reduction suffered. 
 (c)    A certificate of a Lender setting forth the amount or amounts necessary to compensate
such Lender or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown
as due on any such certificate within 10 days after receipt thereof. 
 (d)    Failure or delay on the part of any
Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for
any increased costs or reductions incurred more than 270 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation
therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the
period of retroactive effect thereof. 
 SECTION 2.16    Break Funding Payments. In the event of (a) the
payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan other than on the last day of the
Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice delivered pursuant hereto, or (d) the assignment of any Eurocurrency Loan other than on the last day of
the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case
of a Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of such Loan
had such event not occurred, at the Adjusted LIBO 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, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest that 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 applicable currency of a comparable amount and period from other banks in the Eurocurrency market. A certificate of any Lender setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive 

  
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absent manifest error. The Borrower 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 the Borrower hereunder or under any other Loan Document
shall be made free and clear of and without deduction for any Indemnified Taxes; provided that if the Borrower or the Administrative Agent shall be required to deduct any Indemnified Taxes from such payments, then (i) the sum payable
shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or the Lender (as the case may be) receives an amount equal to the
sum it would have received had no such deductions been made, (ii) the Borrower or the Administrative Agent shall make such deductions and (iii) the Borrower or the Administrative Agent shall pay the full amount deducted to the relevant
Governmental Authority in accordance with Applicable Law. 
 (b)    In addition, the Borrower shall timely pay any Other
Taxes to the relevant Governmental Authority in accordance with Applicable Law. 
 (c)    The Borrower shall indemnify
the Administrative Agent and each Lender, within 10 Business Days after written demand therefor, for the full amount of any Indemnified Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by
or on account of any obligation of the Borrower, hereunder or under any other Loan Document (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) and any reasonable expenses arising therefrom or
with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or by
the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d)    As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental
Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such
payment reasonably satisfactory to the Administrative Agent. 
 (e)    Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting or expanding the obligation of
the Borrower to do so) attributable to such Lender that are paid or payable by the Administrative Agent in connection with any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. The indemnity under this Section shall be paid within 10 days after the Administrative Agent delivers to the applicable Lender a certificate stating the amount of Taxes
so paid or payable by the Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent manifest error. 

(f)    Any Lender that is entitled to an exemption from, or reduction of, any applicable withholding Tax with respect to
any payments under any Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by Applicable Law, such properly completed and executed documentation prescribed by Applicable Law or
reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding, or at a reduced rate of, withholding. If any form or certification previously delivered pursuant to this

  
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Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event within 10 Business Days after such expiration, obsolescence
or inaccuracy) notify the Borrower and the Administrative Agent in writing of such expiration, obsolescence or inaccuracy and update the form or certification if it is legally eligible to do so. 

(i)    Without limiting the generality of the foregoing, any Lender shall, to the extent it is legally
eligible to do so, deliver to the Borrower and the Administrative Agent (in such number of copies reasonably requested by the Borrower and the Administrative Agent) on or prior to the date on which such Lender becomes a party hereto, duly completed
and executed copies of whichever of the following is applicable: 
 (A)    in the case of a Lender that
is a U.S. Person, IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax; 

(B)    in the case of a Non-U.S. Lender claiming the benefits of
an income tax treaty to which the United States is a party (1) with respect to payments of interest under any Loan Document, IRS Form W-8BEN-E or W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of such tax treaty and (2) with respect to any other applicable payments under
this Agreement, IRS Form W-8BEN-E or W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax
pursuant to the “business profits” or “other income” article of such tax treaty; 

(C)    in the case of a Non-U.S. Lender for whom payments under
this Agreement constitute income that is effectively connected with such Lender’s conduct of a trade or business in the United States, IRS Form W-8ECI; 

(D)    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 both (1) IRS Form W-8BEN-E or W-8BEN and
(2) a certificate substantially in the form of Exhibit C (a “U.S. Tax Certificate”) to the effect that such Lender is not (a) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code (c) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a
trade or business in the United States with which the relevant interest payments are effectively connected; 

(E)    in the case of a Non-U.S. Lender that is not the beneficial
owner of payments made under this Agreement (including a partnership or a participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (A), (B),
(C), (D) and (F) of this paragraph (g)(ii) that would be required of each such beneficial owner or partner of such partnership if such beneficial owner or partner were a Lender; provided, however, that if the Lender is a
partnership and one or more of its partners are claiming the exemption for portfolio interest under Section 881(c) of the Code, such Lender may provide a U.S. Tax Certificate on behalf of such partners; or 

(F)    any other form prescribed by law as a basis for claiming exemption from, or a reduction of, U.S.
Federal withholding Tax together with such supplementary documentation necessary to enable the Borrower or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

  
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 (ii)    Each Lender shall deliver to Borrower and the
Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent, such documentation prescribed by Applicable Law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower or the Administrative Agent, to comply with its obligations under
FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.17(f)(ii),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 (g)    If any
party determines, in its sole discretion exercised in good faith, that it has received a refund of any Indemnified Taxes (including additional amounts paid pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal
to such refund (but only to the extent of indemnity payments made, or additional amounts paid, under this Section 2.17 with respect to the Indemnified Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided,
however, that such indemnifying party, upon the request of such indemnified party, agrees to repay to such indemnified party the amount paid to such indemnified party pursuant to the previous sentence (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority) in the event such indemnified party is required to repay such refund to such Governmental Authority. Nothing contained in this Section 2.17(g) shall require any indemnified party to make
available its Tax returns or any other information relating to its Taxes which it deems confidential to the indemnifying party or any other Person. 

(h)    For purposes of determining withholding Taxes imposed under FATCA, the Borrower and the Administrative Agent shall
treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loan Documents as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation
Section 1.1471-2(b)(2)(i). 
 SECTION 2.18    Payments Generally; Pro
Rata Treatment; Sharing of Set-offs. 
 (a)    The Borrower shall make each
payment required to be made by it hereunder or under any other Loan Document (whether of principal, interest or fees, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise), on or before the time expressly required hereunder or
under such other Loan Document for such payment (or, if no such time is expressly required, prior to 12:00 noon, New York City time), on the date when due, in immediately available funds, without 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 at its offices, except that payments pursuant to Sections 2.15, 2.16, 2.17 and 10.03 shall be made directly to the Persons entitled thereto and payments pursuant to other Loan Documents shall be made to the
Persons specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment under any Loan Document shall
be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All
payments (including prepayments) to be made by the Borrower hereunder and under each other Loan Document, whether on account of principal, interest, fees or otherwise shall be made in dollars. 

  
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 (b)    If at any time insufficient funds are received by and available
to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto
in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to
such parties. 
 (c)    If any Lender shall, by exercising any right of set-off
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its 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 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 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 shall not be construed to apply to any payment made by
the Borrower 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 to any assignee or participant, other than
to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of 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 Borrower prior to the date on which any payment hereunder is due to the Administrative Agent for the account of the Lenders that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower
has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment due to the Administrative Agent, then
each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding
the date of payment to the Administrative Agent, 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. 

(e)    If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.06(b), 2.18(d) or
10.03(c), 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. 
 (a)    If any Lender requests compensation under Section 2.15, or if
the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, 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 

  
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to another of its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to
Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b)    If
(i) any Lender requests compensation under Section 2.15, (ii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or (iii) any
Lender defaults in its obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 10.04), all its interests, rights and obligations under this Agreement to an assignee selected by the Borrower that shall assume such obligations (which assignee may be another Lender,
if a Lender accepts such assignment); provided that (i) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it
hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (ii) in the case of any such assignment resulting from a claim for compensation
under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a material reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation
if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. Each party hereto agrees that an assignment required pursuant to this
paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee, and that the Lender required to make such assignment need not be a party thereto in order for such assignment to
be effective. 
 ARTICLE III 

Representations and Warranties 

The Borrower represents and warrants to the Lenders that: 

SECTION 3.01    Organization; Powers. Each of the Borrower and its Subsidiaries is duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

SECTION 3.02    Authorization; Enforceability. The Transactions to be entered into by each Loan Party are within
such Loan Party’s powers and have been duly authorized by all necessary action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document to which any Loan Party is to be a party, when
executed and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of the Borrower or such Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 3.03    Governmental Approvals; No Conflicts. The Transactions and the other transactions contemplated
hereby (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made 

  
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and are in full force and effect, (ii) filings necessary to perfect Liens created under the Loan Documents and (iii) consents, approvals, registrations, filings or actions the failure
of which to obtain or perform could not reasonably be expected to result in a Material Adverse Effect, (b) will not violate any Applicable Law or regulation or the charter, by-laws or other organizational
documents of the Borrower or any of its Subsidiaries or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or any of its Subsidiaries
or their assets, or give rise to a right thereunder to require any payment to be made by the Borrower or any of its Subsidiaries, except for violations, defaults or the creation of such rights that could not reasonably be expected to result in a
Material Adverse Effect, (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries, except Liens created under the Loan Documents and Liens permitted by Section 6.02, and
(e) do not require any acknowledgement, agreement or consent under any indenture, agreement or other instrument binding upon the Borrower or any of its Subsidiaries or their assets, except for such acknowledgements, agreements and consents as
have been obtained or made and are in full force and effect, and such acknowledgements, agreements or consents the failure of which to obtain could not reasonably be expected to result in a Material Adverse Effect. Schedule 3.03 sets forth for the
Borrower and each Subsidiary Loan Party a description of each license from a Governmental Authority which is material to the conduct of the business of such Loan Party as of the Closing Date. 

SECTION 3.04    Financial Condition; No Material Adverse Change. 

(a)    The Borrower has heretofore furnished to the Administrative Agent its consolidated balance sheet and statements of
income, stockholders equity and cash flows (i) as of and for the fiscal years ended December 31, 2016 and December 31, 2017, reported on by Deloitte & Touche LLP, independent public accountants, and (ii) as of and for
each fiscal quarter ended subsequent to December 31, 2017 and at least 45 days prior to the Closing Date, in each case certified by its chief financial officer. Such financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the
absence of footnotes in the case of the statements referred to in clause (ii) above. 
 (b)    The Borrower has
heretofore furnished to the Administrative Agent a 13-week cash flow forecast and an Approved Budget, both of which have been prepared in good faith, based upon assumptions believed to be reasonable at the
time such 13-week cash flow forecast and Approved Budget were prepared. 

(c)    Except as disclosed in the financial statements referred to above, except for the Disclosed Matters and except for
liabilities arising as a result of the Transactions, after giving effect to the Transactions, none of the Borrower or the Subsidiaries has, as of the Closing Date, any contingent liabilities that would be material to the Borrower and the
Subsidiaries, taken as a whole. 
 SECTION 3.05    Properties. 

(a)    Each of the Borrower and its Subsidiaries has good title to, or valid leasehold interests in, all its real and
personal property material to its business (including its Mortgaged Properties), except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended
purposes. 
 (b)    Each of the Borrower and its Subsidiaries owns, or is licensed to use, all trademarks, tradenames,
copyrights, patents and other intellectual property material to its business, and the use thereof by the Borrower and its Subsidiaries does not infringe upon the rights of any other Person, except 

  
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for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(c)    Schedule 3.05 sets forth the address of each real property that is owned or leased by the Borrower or any of its
Subsidiaries as of the Closing Date after giving effect to the Transactions. 
 SECTION 3.06    Litigation and
Environmental Matters. 
 (a)    There are no actions, suits or proceedings by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if
adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve any of the Loan Documents or the Transactions. 

(b)    Except for the Disclosed Matters and except with respect to any other matters that, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect, none of the Borrower or any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or
other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any
Environmental Liability. 
 (c)    Since the date of this Agreement, there has been no change in the status of the
Disclosed Matters that, individually or in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 

(d)    No Borrower or Subsidiary is in default with respect to any order, injunction or judgment of any Governmental
Authority, except for such defaults which, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.07    Compliance with Laws and Agreements. Each of the Borrower and its Subsidiaries is in compliance
with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing. 
 SECTION
3.08    Investment Company Status. None of the Borrower or any of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

SECTION 3.09    Taxes. Each of the Borrower and its Subsidiaries has timely filed or caused to be filed all Tax
returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) any Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower or
such Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. As of the Closing Date,
there is no pending audit of the Borrower or any Subsidiary Loan Party with any federal, state, local or foreign tax authority, except as could not reasonably be expected to result in a Material Adverse Effect. 

  
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 SECTION 3.10    ERISA. No ERISA Event has occurred or is
reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. As of the Closing Date, the present
value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of the Financial Accounting Standards Board Accounting Standards Codification Topic
No. 715-30) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $100,000 the fair market value of the assets of all such underfunded Plans. 

SECTION 3.11    Disclosure. The Borrower has disclosed to the Lenders all agreements, instruments and corporate or
other restrictions to which the Borrower or any of its Subsidiaries is subject, and all other matters known to any of them, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. Neither the
Information Memorandum nor any of the other reports, financial statements, certificates or other information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the negotiation of this Agreement
or any other Loan Document or delivered hereunder or thereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time such projections were prepared. 
 SECTION 3.12    Subsidiaries. Schedule
3.12 sets forth the name of, and the ownership interest of the Borrower in each Subsidiary of the Borrower and identifies each Subsidiary that is a Subsidiary Loan Party, in each case as of the Closing Date. 

SECTION 3.13    Insurance. Schedule 3.13 sets forth a description of all material insurance policies maintained by
or on behalf of the Borrower and the Subsidiaries as of the Closing Date. As of the Closing Date, all premiums due in respect of such insurance have been paid. 

SECTION 3.14    Labor Matters. As of the Closing Date, there are no strikes, lockouts or slowdowns against the
Borrower or any Subsidiary pending or, to the knowledge of the Borrower, threatened that could reasonably be expected to have a Material Adverse Effect. All payments due from the Borrower or any Subsidiary, or for which any claim may be made against
the Borrower or any Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of the Borrower or such Subsidiary except for those which, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect. The consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any union under any collective bargaining
agreement to which the Borrower or any Subsidiary is bound. 
 SECTION 3.15    [Reserved] 

SECTION 3.16    Senior Indebtedness. The Obligations constitute “Senior Debt”, however defined, under the
terms of any Indebtedness that is subordinated in right of payment to the Obligations. 
 SECTION 3.17    Security
Documents. 
 (a)    The Guarantee and Collateral Agreement is effective to create in favor of the Collateral Agent,
for the benefit of the Secured Parties, a legal, valid and enforceable security interest in 

  
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the Collateral (as defined in the Guarantee and Collateral Agreement) and, when (i) in respect of Collateral in which a security interest can be perfected by control, such Collateral is
delivered to the Collateral Agent and for so long as the Collateral Agent remains in possession of such Collateral, the security interest created by the Guarantee and Collateral Agreement shall constitute a perfected first priority security interest
in all right, title and interest of the pledgor thereunder in such Collateral, in each case prior and superior in right to any other Person and (ii) in respect of Collateral in which a security interest can be perfected by the filing of UCC
financing statements, financing statements in appropriate form are filed in the offices specified on Schedule 1.04 to the Perfection Certificate most recently delivered to the Collateral Agent, the security interest created by the Guarantee and
Collateral Agreement shall constitute a perfected security interest in all right, title and interest of the grantors thereunder in such Collateral (other than the Intellectual Property (as defined in the Guarantee and Collateral Agreement)), in each
case prior and superior in right to any other Person, other than with respect to Liens permitted by Section 6.02 and subject to the Intercreditor Agreements. 

(b)    [Reserved] 

(c)    When the Guarantee and Collateral Agreement (or a summary thereof) is filed in the United States Patent and
Trademark Office and the United States Copyright Office and the financing statements referred to in Section 3.17(a) above are appropriately filed, the security interest created by the Guarantee and Collateral Agreement shall constitute a
perfected security interest in all right, title and interest of the grantors thereunder in the Intellectual Property (as defined in the Guarantee and Collateral Agreement) in which a security interest may be perfected by filing, recording or
registering a security agreement, financing statement or analogous document in the United States Patent and Trademark Office or the United States Copyright Office, as applicable, in each case prior and superior in right to any other Person (it being
understood that subsequent recordings in the United States Patent and Trademark Office and the United States Copyright Office and subsequent UCC filings may be necessary to perfect a lien on registered trademarks, trademark applications and
copyrights acquired by the Loan Parties after the Closing Date), other than with respect to Liens permitted by Section 6.02 and subject to the Intercreditor Agreements. 

(d)    Each Mortgage, upon execution and delivery thereof by the parties thereto, is effective to create, subject to the
exceptions listed in each title insurance policy covering such Mortgage, in favor of and reasonably satisfactory to the Collateral Agent, for the benefit of the Secured Parties, a legal, valid and enforceable Lien on all of the applicable
mortgagor’s right, title and interest in and to the Mortgaged Properties thereunder and the proceeds thereof, and when the Mortgages are filed in the appropriate offices, the Lien created by each Mortgage shall constitute a perfected Lien on
all right, title and interest of the applicable mortgagor in such Mortgaged Properties and the proceeds thereof, in each case prior and superior in right to any other Person, other than with respect to the rights of Persons pursuant to Liens
permitted by Section 6.02 and subject to the Intercreditor Agreements. 
 SECTION 3.18    Federal Reserve
Regulations. 
 (a)    None of the Borrower or any of the Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of buying 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, for any purpose that entails a violation of the provisions of the Regulations of the Board, including Regulation U or X. 

  
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 SECTION 3.19    Anti-Corruption Laws and Sanctions. The Borrower
has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and
the Borrower, its Subsidiaries and their respective officers and employees and, to the knowledge of the Borrower, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of
(a) the Borrower, any Subsidiary or any of their respective directors, officers or employees, or (b) to the knowledge of the Borrower, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit
from the credit facility established hereby, is a Sanctioned Person. No Borrowing, use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 

SECTION 3.20    Material Contracts. Schedule 3.20 hereto sets forth for the Borrower and each Subsidiary Loan
Party, as of the Closing Date, a list of all of the material contracts and agreements to which such Loan Party is a party (other than agreements disclosed to the Administrative Agent pursuant to Section 5.01(f), agreements relating to
Indebtedness described on Schedule 6.01, real property leases identified on Schedule 2.03 to the Perfection Certificate delivered to the Administrative Agent on the Closing Date, and Licenses identified on Schedule 4.04 to the Perfection Certificate
delivered to the Administrative Agent on the Closing Date). 
 SECTION 3.21    EEA Financial Institutions. No
Loan Party is an EEA Financial Institution. 
 SECTION 3.22    Disclosure. As of the Closing Date, to the best
knowledge of the Borrower, the information included in the Beneficial Ownership Certification provided on or prior to the Closing Date to any Lender in connection with this Agreement is true and correct in all respects. 

ARTICLE IV 
 Conditions

 SECTION 4.01    Closing Date. The obligations of the Lenders to make Loans hereunder is subject to the
satisfaction of the following conditions: 
 (a)    The Agents shall have received a favorable written
opinion (addressed to the Administrative Agent and the Lenders and dated the Closing Date) of Jones Day LLP, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders. The Borrower hereby requests such counsel to
deliver such opinions. 
 (b)    The Administrative Agent shall have received such documents and
certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions and any other legal matters relating to the Loan
Parties, the Loan Documents or the Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel. 

(c)    The Administrative Agent (or its counsel) shall have received the Term Intercreditor Agreement,
executed and delivered by the Borrower, the other Loan Parties as of the Closing Date, the Collateral Agent and the Term Loan Agent. 

  
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 (d)    The Administrative Agent shall have received all
fees and other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses
(including fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party hereunder or under any Loan Document. 

(e)    The Collateral and Guarantee Requirement with respect to Loan Parties that are Domestic
Subsidiaries shall have been satisfied and the Administrative Agent shall have received a completed Perfection Certificate dated the Closing Date and signed by an executive officer or Financial Officer of the Borrower, together with all attachments
contemplated thereby, including the results of a search of the Uniform Commercial Code (or equivalent) filings made with respect to the Loan Parties in the jurisdictions contemplated by the Perfection Certificate and copies of the financing
statements (or similar documents) disclosed by such search and evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such financing statements (or similar documents) are permitted by Section 6.02 or have been
released or will be released pursuant to UCC-3 financing statements or other release documentation delivered to the Collateral Agent. 

(f)    The Administrative Agent shall have received evidence that the insurance required by
Section 5.07 and the Security Documents is in effect, together with endorsements naming the Collateral Agent, for the benefit of the Secured Parties, as additional insured and loss payee thereunder, to the extent required by Section 5.07.

 (g)    After giving effect to the Transactions as of the Closing Date, none of the Borrower or any of
its Subsidiaries shall have outstanding Indebtedness for borrowed money other than (i) Indebtedness incurred under this Agreement, (ii) Indebtedness incurred and outstanding under the ABL Credit Agreement and the Term Loan Credit Agreement
and (iii) Indebtedness incurred and outstanding in compliance with Section 6.01 of this Agreement. 

(h)    The Lenders shall have received the Approved Budget, a
13-week cash flow forecast and the financial statements referred to in Section 3.04(a) and (b). 

(i)    The Administrative Agent and the Lenders shall have received all documentation and other
information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act, which shall include, for the avoidance of doubt, a duly executed IRS Form
W-9. 
 (j)    Each of the Term Loan Credit Agreement, the ABL
Credit Agreement, the Term Loan Security Documents and the ABL/Term Loan Intercreditor Agreement shall have been amended in a manner acceptable to the Lenders. 

(k)    The representations and warranties of each Loan Party set forth in the Loan Documents shall be true
and correct in all material respects (or in all respects if qualified as to materiality) on and as of the Closing Date. 

(l)    No Default or Event of Default shall have occurred and be continuing on the Closing Date or after
giving effect to the Loans requested to be made on such date. 
 (m)    The Administrative Agent (or its
counsel) shall have received from each party hereto (a) either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include facsimile or other
electronic transmission of a signed signature page of this Agreement) that such party has signed a 

  
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counterpart of this Agreement and (b) a duly executed Borrowing Request and accompanying flow of funds. 

(n)    The Borrower shall have retained local counsel in Germany, the UK and the Netherlands and shall
have instructed such local counsel to cooperate with counsel to the Administrative Agent to satisfy the conditions described in Part B of Schedule 5.13 on an expedited basis. 

The obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to
Section 10.02) at or prior to 5:00 p.m., New York City time, on February 20, 2019 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time). 

ARTICLE V 
 Affirmative
Covenants 
 Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable
hereunder shall have been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION
5.01    Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent and each Lender: 

(a)    within 90 days after the end of each fiscal year of the Borrower, its audited consolidated balance
sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Deloitte &
Touche LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception (except for any such qualification or exception resulting from any current maturity of
Loans hereunder) and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the
Borrower and its consolidated subsidiaries on a consolidated basis in accordance with GAAP consistently applied (it being understood that the obligation to furnish the foregoing to the Administrative Agent and the Lenders shall be deemed to be
satisfied in respect of any fiscal year of the Borrower by the filing of the Borrower’s annual report on Form 10-K for such fiscal year with the Commission to the extent the foregoing are included
therein); 
 (b)    (i) within 45 days after the end of each of the first three fiscal quarters of each
fiscal year of the Borrower, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in
each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all
material respects the financial condition and results of operations of the Borrower and its consolidated subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal
year-end audit adjustments and the absence of footnotes (it being understood that the obligation to furnish the foregoing to the Administrative Agent and the Lenders shall be deemed to be satisfied in respect
of any fiscal quarter of the Borrower by the filing of the Borrower’s quarterly report on Form 10-Q for such fiscal quarter with the Commission to the extent the foregoing are

  
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included therein) and (ii) within 30 days after the end of each fiscal month of the Borrower, its consolidated balance sheet and related statements of operations, stockholders’ equity
and cash flows as of the end of and for such fiscal month and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet,
as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 

(c)    within 90 days after the end of each fiscal year of the Borrower (but in any event no later than
two Business Days after any delivery of financial statements under clause (a) above), or within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower (but in any event no later than two Business
Days after any delivery of financial statements under clause (b) above), a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details
thereof and any action taken or proposed to be taken with respect thereto, (ii) stating whether any change in GAAP or in the application thereof has occurred since the date of the Borrower’s audited financial statements referred to in
Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate and (iii) identifying all Subsidiaries existing on the date of such certificate and
indicating, for each such Subsidiary, whether such Subsidiary is a Subsidiary Loan Party, a Foreign Subsidiary and/or an Immaterial Subsidiary and whether such Subsidiary was formed or acquired since the end of the previous fiscal quarter; 

(d)    within 90 days after the end of each fiscal year of the Borrower, (i) a certificate of the
accounting firm that reported on such financial statements stating whether they obtained knowledge during the course of their examination of such financial statements of any Default (which certificate may be limited to the extent required by
accounting rules or guidelines) and (ii) a certificate of a Financial Officer of the Borrower (A) identifying any parcels of real property or improvements thereto with a value exceeding $2,000,000 that have been acquired by any Loan Party
since the end of the previous fiscal year, (B) identifying any changes of the type described in Section 5.03(a) that have not been previously reported by the Borrower, (C) [reserved], (D) identifying any Intellectual Property (as defined
in the Guarantee and Collateral Agreement) with respect to which a notice is required to be delivered under the Guarantee and Collateral Agreement and has not been previously delivered, and (E) identifying any Prepayment Events that have
occurred since the end of the previous fiscal year and setting forth a reasonably detailed calculation of the Net Proceeds received from Prepayment Events since the end of such previous fiscal year; 

(e)    [reserved]; 

(f)    promptly after the same become publicly available, copies of all periodic and other reports, proxy
statements and other materials filed by the Borrower or any Subsidiary with the Commission or with any national securities exchange, as the case may be (it being understood that the obligation to furnish the foregoing to the Administrative Agent and
the Lenders shall be deemed to be satisfied to the extent the foregoing are filed with the Commission); 

(g)    promptly upon the Borrower’s receipt thereof, (A) copies of all material compliance
reports filed and material correspondence regarding any active or pending investigation or enforcement action concerning the Borrower or any Subsidiary Loan Party with any state, federal, 

  
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local or foreign regulatory agency and (B) all material correspondence, if any, alleging violation of or requesting compliance by the Borrower or any Subsidiary Loan Party with laws,
regulations, etc. or requests for information pursuant to interstate commerce laws, antitrust laws, securities laws, worker safety laws (OSHA), etc.; 

(h)    except to the extent already provided for in this Section 5.01, promptly after the sending
thereof, copies of any proposed waiver, consent, or amendment concerning any of the ABL Loan Documents; 

(i)    promptly upon the effectiveness thereof, (A) a description of each license from a Governmental
Authority which becomes effective after the Closing Date and is material to the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, and (B) a description of each material contract or agreement to which the Borrower
or any Subsidiary Loan Party is a party (other than contracts and agreements disclosed to the Administrative Agent pursuant to Section 5.01(f), agreements described on Schedule 3.20 or Schedule 6.01, and without duplication of real property
leases identified on Schedule 2.03 to the Perfection Certificate most recently delivered to the Administrative Agent and Licenses identified on Schedule 4.04 to the Perfection Certificate most recently delivered to the Administrative Agent); 

(j)    by no later than 5:00 p.m. (New York time) on each Wednesday, in each case in a form acceptable to
the Required Lenders (it being acknowledged and agreed by the Lenders that the Forecast for North America and Europe-Africa delivered by the Borrower to the Administrative Agent and the Lenders on February 16, 2019 is in an acceptable form),
(i) an updated 13-week statement of projected receipts and disbursements (each such statement, a “Rolling 13-Week Cash Flow Forecast”), (ii) a report
showing actual receipts and disbursements through the prior week for North America and Europe-Africa, including a variance report showing the variance to the immediately prior Rolling 13-Week Cash Flow
Forecast, and (iii) a flash report detailing revenues by segment for the prior week (it being understood and agreed that the Borrower shall commence development of procedures to be completed on or prior to March 4, 2019, permitting the
Borrower to deliver flash reports detailing sales and KPIs by location, and, once available (and in any event commencing not later than March 4, 2019), such reports shall be delivered on a weekly basis pursuant to this clause (j));
provided that none of the documents, reports, or information delivered pursuant to this clause (j) shall be shared with or provided or distributed to any Public-Sider. 

(k)    if, on or prior to February 25, 2019, the Loans have not been repaid in full in cash from the
proceeds of new long-term Indebtedness incurred by the Borrower, the Borrower shall begin preparing additional materials as requested by the Lenders to be provided by dates requested by the Lenders, including, but not limited to, Rolling 13-Week Cash Flow Forecast, go-forward funding needs and accompanying budget and other documents reasonably requested by the Lenders to support strategic alternatives; 

(l)    the Borrower shall furnish supplemental information from time to time as shall be necessary to
ensure that the representation and warranty set forth in Section 3.11 shall remain true and correct in all respects on each date prior to the Maturity Date as if such representation and warranty were being made on such date; and 

(m)    promptly following any request therefor, such other information regarding the operations, business
affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably request. 

  
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 The Borrower represents and warrants that it and any of its Subsidiaries either (i) has no registered
or publicly traded securities outstanding or (ii) files its financial statements with the Commission and/or makes its financial statements available to potential holders of its 144A securities, and, accordingly, the Borrower hereby
(x) authorizes the Administrative Agent to make the financial statements to be provided under Section 5.01(a) and (b)(i) above, along with the Loan Documents, available to all Lenders and (y) agrees that at the time such financial
statements are provided hereunder, they shall already have been made available to holders of its securities. The Borrower will not request that any other material be posted to all Lenders without expressly representing and warranting to the
Administrative Agent in writing that (A) such materials do not constitute material non-public information within the meaning of the federal securities laws (“MNPI”) or (B) (i) the
Borrower and its Subsidiaries have no outstanding publicly traded securities, including 144A securities, and (ii) if at any time the Borrower or any of its Subsidiaries issues publicly traded securities, including 144A securities, then the
Borrower will, upon the issuance of such securities, make such materials that do constitute MNPI at the time of issuance of such securities publicly available by press release or public filing with the Commission. In no event will the Administrative
Agent post compliance certificates or budgets to Public-Siders. 
 SECTION 5.02    Notices of Material Events.
The Borrower will furnish to the Administrative Agent and each Lender prompt written notice of the following: 

(a)    the occurrence of any Default; 

(b)    the filing or commencement of any action, suit or proceeding by or before any arbitrator or
Governmental Authority against or affecting the Borrower or any Subsidiary thereof that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; 

(c)    the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have
occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $100,000; 

(d)    any pending or threatened labor dispute, strike or walkout, or the expiration of any material labor
contract; 
 (e)    any material notice or default under or termination of a Material Agreement; 

(f)    any judgment for the payment of money in an aggregate amount exceeding $250,000 that remains
undischarged for a period of 30 consecutive days, during which execution is not effectively stayed, or the occurrence of any action legally taken by a judgment creditor to attach or levy upon assets in order to enforce any such judgment; 

(g)    the assertion of any Intellectual Property Claim, if an adverse resolution could have a Material
Adverse Effect; 
 (h)    any violation or asserted violation of any Applicable Law (including ERISA,
OSHA, FLSA, or any Environmental Laws), if an adverse resolution could have a Material Adverse Effect; 

(i)    any Release by a Loan Party or with respect to any Real Estate owned, leased or occupied by a Loan
Party; or receipt of any Environmental Notice, in each case where the expected remedial costs or liability is reasonably expected to exceed $250,000; 

  
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 (j)    the discharge of or any withdrawal or resignation
by the Borrower’s independent accountants; and 
 (k)    any other development that results in, or
could reasonably be expected to result in, a Material Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a
Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03    Information Regarding Collateral. 

(a)    The Borrower will furnish to the Administrative Agent prompt written notice of any change (i) in any Loan
Party’s legal name, (ii) in the location of any Loan Party’s chief executive office or (iii) in any Loan Party’s jurisdiction of organization. The Borrower agrees not to effect or permit any change referred to in the
preceding sentence unless written notice has been delivered to the Collateral Agent, together with all applicable information to enable the Administrative Agent to make all filings under the Uniform Commercial Code or otherwise that are required in
order for the Collateral Agent (on behalf of the Secured Parties) to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral. 

(b)    Each year, within 90 days after the end of each fiscal year of the Borrower, the Borrower (on behalf of itself and
the other Loan Parties) shall deliver to the Administrative Agent a certificate of a Financial Officer of the Borrower (i) setting forth the information required pursuant to the Perfection Certificate or confirming that there has been no change
in such information since the date of the Perfection Certificate delivered on the Closing Date or the date of the most recent certificate delivered pursuant to this Section and (ii) certifying that all Uniform Commercial Code financing
statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations, including all refilings, rerecordings and reregistrations, containing a description of the Collateral have been filed of record in each
governmental, municipal or other appropriate office in each jurisdiction identified pursuant to clause (i) above to the extent necessary to protect and perfect the security interests under the Security Documents for a period of not less than 18
months after the date of such certificate (except as noted therein with respect to any continuation statements to be filed within such period). 

SECTION 5.04    Existence; Conduct of Business. The Borrower will, and will cause each of the Subsidiaries to, do
or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names the loss of which would have
a Material Adverse Effect; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03 or disposition permitted under Section 6.05. 

SECTION 5.05    Payment of Obligations. The Borrower will, and will cause each of the Subsidiaries to, pay its
Indebtedness and other obligations, including Tax liabilities, before the same shall become delinquent or in default, except (a) those being contested in good faith by appropriate proceedings and for which the Borrower has set aside on its
books adequate reserves with respect thereto in accordance with GAAP, or (b) to the extent the failure to make payment could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 5.06    Maintenance of Properties. The Borrower will, and will cause each of the Subsidiaries to, keep and
maintain all property material to the conduct of their business, taken as a whole, in good working order and condition, ordinary wear and tear excepted; provided that the foregoing 

  
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shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03 or disposition permitted under Section 6.05. 

SECTION 5.07    Insurance. The Borrower will, and will cause each of the Subsidiaries to, maintain insurance in
such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations, except where the failure to
do so could not reasonably be expected to result in a Material Adverse Effect. Such insurance shall be maintained with financially sound and reputable insurance companies, except that a portion of such insurance program (not to exceed that which is
customary in the case of companies engaged in the same or similar business or having similar properties similarly situated) may be effected through self-insurance; provided adequate reserves therefor, in accordance with GAAP, are maintained.
In addition, the Borrower will, and will cause each of its Subsidiaries to, maintain all insurance required to be maintained pursuant to the Security Documents. With respect to each Mortgaged Property that is located in an area determined by the
Federal Emergency Management Agency to have special flood hazards, the applicable Loan Party will maintain, with financially sound and reputable insurance companies, such flood insurance as is required under Applicable Law, including Regulation H of
the Board of Governors. The Borrower will furnish to the Lenders, upon request of the Administrative Agent, information in reasonable detail as to the insurance so maintained. No later than 30 days after the Closing Date, all insurance policies or
certificates (or certified copies thereof) with respect to such insurance shall be endorsed to the Collateral Agent’s reasonable satisfaction for the benefit of the Lenders (including by naming the Collateral Agent as lender loss payee or
additional insured, as appropriate). 
 SECTION 5.08    Casualty and Condemnation. The Borrower (a) will
furnish to the Administrative Agent and the Lenders prompt written notice of casualty or other insured damage to any material portion of any Collateral having a book value or fair market value of $1,000,000 or more or the commencement of any action
or proceeding for the taking of any Collateral having a book value or fair market value of $1,000,000 or more or any part thereof or interest therein under power of eminent domain or by condemnation or similar proceeding and (b) will ensure
that the Net Proceeds of any such event (whether in the form of insurance proceeds, condemnation awards or otherwise) are collected and applied in accordance with the applicable provisions of this Agreement and the Security Documents. 

SECTION 5.09    Books and Records; Inspection and Audit Rights; Lender Calls. The Borrower will, and will cause
each of the Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The Borrower will, and will cause each of the
Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs,
finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested. Upon request by the Administrative Agent (acting on the instructions of the Required Lenders), and at minimum
once per calendar week, the Borrower shall hold a telephone call for the benefit of the Administrative Agent and the Lenders to discuss the Borrower’s and its Subsidiaries’ operational and financial performance, the status of strategic
initiatives and any other items reasonably requested to be covered by any Lender and respond to questions that are raised on such call. 

SECTION 5.10    Compliance with Laws. The Borrower will, and will cause each of the Subsidiaries to, comply with
all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The
Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and 

  
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their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

SECTION 5.11    Use of Proceeds. The Borrower will use the proceeds of the Loans on the Closing Date solely for
incremental liquidity, working capital catch-up and fees and expenses incurred in connection with this Agreement and the transactions related thereto, in each case in a manner consistent with the Approved
Budget. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. 

SECTION 5.12    [Reserved] 

SECTION 5.13    Further Assurances; Post-Closing Covenant. 

(a)    The Borrower will, and will cause each Subsidiary Loan Party to, execute any and all further documents, financing
statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust, landlord waivers and other documents), which may be required under any
Applicable Law, or which the Administrative Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the Loan Parties. The Borrower also agrees to
provide to the Administrative Agent, from time to time upon 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)    If any assets (including any real property or improvements thereto or any interest therein) having a book value or
fair market value of $500,000 or more in the aggregate are acquired by the Borrower or any Subsidiary Loan Party after the Closing Date or through the acquisition of a Subsidiary Loan Party under Section 5.12 or through the conversion of a
Subsidiary into a Subsidiary Loan Party under Section 5.12 (other than, in each case, assets constituting Collateral under the Guarantee and Collateral Agreement that become subject to the Lien of the Guarantee and Collateral Agreement upon
acquisition thereof), the Borrower or, if applicable, the relevant Subsidiary Loan Party will notify the Administrative Agent and the Lenders thereof, and, if reasonably requested by the Administrative Agent or the Required Lenders, the Borrower
will cause such assets to be subjected to a Lien securing the Obligations and will take, and cause the Subsidiary Loan Parties to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such
Liens, including actions described in paragraph (a) of this Section, all at the expense of the Loan Parties. 

(c)    The Borrower will, and will cause each Subsidiary Loan Party to, deposit the proceeds of any Term Priority
Collateral in a Term Collateral Proceeds Account at any time (i) after the occurrence and during the continuance of an Event of Default under clauses (a), (h) or (i) of Article VII and (ii) after the occurrence and during the
continuance of any other Event of Default after the Administrative Agent provides written notice to the Borrower to so deposit such proceeds. 

(d)    The Borrower will, and will cause each Subsidiary Loan Party to, satisfy the post-closing conditions described in
Schedule 5.13 within the timelines set forth therein. 
 (e)    The Borrower will use its reasonable best efforts to
obtain and close, as soon as possible after the Closing Date, financing in amounts and on terms that are acceptable to the Required Lenders. 

  
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 ARTICLE VI 

Negative Covenants 
 Until
the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full, the Borrower covenants and agrees with the Lenders that: 

SECTION 6.01    Indebtedness; Certain Equity Securities. 

(a)      The Borrower will not, nor will it permit any Subsidiary to, create, incur, assume or permit to exist
any Indebtedness, except: 
 (i)       Indebtedness created under the Loan Documents; 

(ii)      [reserved]; 

(iii)     Indebtedness existing on the date hereof and set forth in Schedule 6.01; 

(iv)     [reserved]; 

(v)      Indebtedness of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or
any other Subsidiary; provided that Indebtedness of any Subsidiary that is not a Loan Party or any Subsidiary Loan Party for which the Collateral and Guarantee Requirement has not been satisfied to the Borrower or any Subsidiary Loan Party
shall be subject to Section 6.04; 
 (vi)     Guarantees by the Borrower of Indebtedness of
any Subsidiary and by any Subsidiary of Indebtedness of the Borrower or any other Subsidiary; provided that Guarantees by the Borrower or any Subsidiary Loan Party of Indebtedness of any Subsidiary that is not a Loan Party or any Subsidiary
Loan Party for which the Collateral and Guarantee Requirement has not been satisfied shall be subject to Section 6.04; 

(vii)    [reserved]; 

(viii)   [reserved]; 

(ix)     [reserved]; 

(x)      [reserved]; 

(xi)     Indebtedness of the Borrower or any Subsidiary in respect of workers’ compensation
claims, self-insurance obligations, performance bonds, surety appeal or similar bonds and completion guarantees provided by the Borrower and the Subsidiaries in the ordinary course of their business; 

(xii)    [reserved]; 

(xiii)   [reserved]; 

(xiv)    Indebtedness arising from the honoring by a bank or other financial institution of a check, draft
or similar instrument inadvertently (except in the case of daylight overdrafts) drawn 

  
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against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within 10 days of incurrence; 

(xv)       Indebtedness arising in connection with endorsement of instruments for deposit
in the ordinary course of business; 
 (xvi)      Indebtedness incurred in connection with the
financing of insurance premiums in an aggregate amount at any time outstanding not to exceed the premiums owed under such policy, if applicable; 

(xvii)    contingent obligations to financial institutions, in each case to the extent in the ordinary
course of business and on terms and conditions which are within the general parameters customary in the banking industry, entered into to obtain cash management services or deposit account overdraft protection services (in an amount similar to those
offered for comparable services in the financial industry) or other services in connection with the management or opening of deposit accounts or incurred as a result of endorsement of negotiable instruments for deposit or collection purposes and
other customary, contingent obligations, including obligations under Bank Products (as defined in the ABL Credit Agreement as in effect on the date hereof) other than Hedging Agreements, of the Borrower and its Subsidiaries incurred in the ordinary
course of business; 
 (xviii)    unsecured guarantees by the Borrower or any Subsidiary Loan Party of
facility leases of any Loan Party; 
 (xix)      payment obligations of or Guarantees by the
Borrower or any Subsidiary Loan Party with respect to any Hedging Agreement permitted under Section 6.07 hereof; provided that if such Hedging Agreement is related to interest rates, (A) such Hedging Agreement shall relate to
payment obligations on Indebtedness otherwise permitted to be incurred by the Loan Documents and (B) the notional amount of such Hedging Agreement shall not exceed the principal amount of the Indebtedness to which such Hedging Agreement
relates; 
 (xx)      Indebtedness of the Borrower, any Subsidiary Loan Party or any ABL
Foreign Loan Party under the ABL Credit Agreement in an aggregate principal amount at any one time outstanding not to exceed $99,000,000; provided that the Borrower will not, and will not permit any Subsidiary to, create, grant or permit to
exist any Lien on the ABL Priority Collateral that is contractually subordinated (including pursuant to a last-out facility) or junior in priority to the Liens on the ABL Priority Collateral securing any of
the “Loans” or any other “Obligations” (each as defined in the ABL Credit Agreement), unless such Lien on the ABL Priority Collateral is also contractually subordinated or junior in priority, in the same manner and to the same
extent, to the Liens on ABL Priority Collateral securing the Obligations; 

(xxi)      Indebtedness of the Borrower or any Subsidiary Loan Party under the Term Loan Credit
Agreement in an aggregate principal amount not exceeding the amount outstanding thereunder on the Closing Date; 

(xxii)     [reserved]; and 

(xxiii)    Indebtedness of the Borrower outstanding on the Closing Date under the Convertible Notes. 

  
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 (b)    The Borrower will not, nor will it permit any Subsidiary to,
issue any preferred stock or other preferred Equity Interests, except preferred stock or preferred Equity Interests held by the Borrower or any Subsidiary. 

SECTION 6.02    Liens. The Borrower will not, nor will it permit any Subsidiary to, create, incur, assume or permit
to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 

(a)    Liens created under the Loan Documents; 

(b)    Permitted Encumbrances; 

(c)    [reserved]; 

(d)    any Lien on any property or asset of the Borrower or any Subsidiary existing on the date hereof and
set forth in Schedule 6.02; provided that (i) such Lien shall not apply to any other property or asset of the Borrower or any Subsidiary and (ii) such Lien shall secure only those obligations which it secures on the date hereof and
extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(e)    [reserved]; 

(f)    [reserved]; 

(g)    Liens, with respect to any Mortgaged Property, described in the applicable schedule of the title
policy covering such Mortgaged Property; 
 (h)    [reserved]; 

(i)    [reserved]; 

(j)    [reserved]; 

(k)    Liens, rights of setoff and other similar Liens existing solely with respect to cash and Permitted
Investments on deposit in one or more accounts maintained by any Lender, in each case granted in the ordinary course of business in favor of such Lender with which such accounts are maintained, securing amounts owing to such Lender with respect to
cash management and operating account arrangements, including those involving pooled accounts and netting arrangements; provided that, unless such Liens are non-consensual and arise by operation of law,
in no case shall any such Liens secure (either directly or indirectly) the repayment of any Indebtedness for borrowed money; 

(l)    licenses or sublicenses of Intellectual Property (as defined in the Guarantee and Collateral
Agreement) granted by any Company in the ordinary course of business and not interfering in any material respect with the ordinary conduct of business of the Borrower; 

(m)    the filing of UCC financing statements solely as a precautionary measure in connection with
operating leases or consignment of goods; 
 (n)    [reserved]; 

  
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 (o)    Liens deemed to exist in connection with
investments permitted under Section 6.04 that constitute repurchase obligations and in connection with related set-off rights; 

(p)    Liens of a collection bank arising in the ordinary course of business under Section 4-210 of the UCC in effect in the relevant jurisdiction covering only the items being collected upon; 

(q)    Liens of sellers of goods to the Borrower or any of its Subsidiaries arising under Article 2 of the
UCC in effect in the relevant jurisdiction in the ordinary course of business, covering only the goods sold and covering only the unpaid purchase price for such goods and related expenses; 

(r)    Liens on any Collateral (but not on any other property) under the Term Loan Security Documents; and

 (s)    Liens under the ABL Security Documents (as defined in the ABL/Term Loan Intercreditor
Agreement) (i) that are subject to the ABL/Term Loan Intercreditor Agreement, or (ii) on cash in favor of any Secured Party (as defined in the ABL Credit Agreement) created as a result of any requirement to provide cash collateral pursuant
to the ABL Credit Agreement. 
 SECTION 6.03    Fundamental Changes. 

(a)    The Borrower will not, nor will it permit any other Person to merge into or consolidate with any of them, or
liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing (i) any Subsidiary may merge into the Borrower in a transaction in which the Borrower is the
surviving corporation, (ii) any Subsidiary may merge into any Subsidiary in a transaction in which the surviving entity is a Subsidiary and (if any party to such merger is a Subsidiary Loan Party) is a Subsidiary Loan Party for which the
Collateral and Guarantee Requirement has been satisfied and (iii) any Subsidiary (other than a Subsidiary Loan Party) may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best
interests of the Borrower and is not materially disadvantageous to the Lenders; provided that any such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be permitted unless also
permitted by Section 6.04. 
 (b)    The Borrower will not, and will not permit any of its Subsidiaries to, engage
to any material extent in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date of execution of this Agreement and businesses reasonably related thereto. 

SECTION 6.04    Investments, Loans, Advances, Guarantees and Acquisitions. The Borrower will not, nor will it
permit any Subsidiary to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any Equity Interests in or evidences of indebtedness or other securities (including
any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase
or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: 

(a)    Permitted Investments; 

(b)    investments existing on the date hereof and set forth on Schedule 6.04; 

  
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 (c)    [reserved]; 

(d)    investments by the Borrower and the Subsidiaries in their respective Subsidiaries that exist
immediately prior to any applicable transaction; provided that (i) any such Equity Interests held by a Loan Party shall be pledged pursuant to the Guarantee and Collateral Agreement to the extent required by this Agreement and
(ii) the aggregate amount of investments by Loan Parties in, and loans and advances by Loan Parties to, and Guarantees by Loan Parties of Indebtedness of, Subsidiaries that are not Loan Parties that have complied with the Collateral and
Guarantee Requirement made after the Closing Date shall be consistent with the Approved Budget and shall, in any event, not at any time exceed $40,000,000; 

(e)    loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower
or any other Subsidiary; provided that (i) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged pursuant to the Guarantee and Collateral Agreement and (ii) the amount of such loans and
advances made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitation set forth in clause (d) above; 

(f)    [reserved]; 

(g)     [reserved]; 

(h)    investments received in connection with the bankruptcy or reorganization of, or settlement of
delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; 

(i)    any investments in or loans to any other Person received as noncash consideration for sales,
transfers, leases and other dispositions permitted by Section 6.05; 
 (j)    Guarantees by the
Borrower and the Subsidiaries of leases entered into by any Subsidiary as lessee; provided that the amount of such Guarantees made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitation set forth in
clause (d) above; 
 (k)    extensions of credit in the nature of accounts receivable or notes
receivable in the ordinary course of business and consistent with the Approved Budget; 
 (l)    loans
or advances to employees made in the ordinary course of business consistent with prudent business practice and not exceeding $50,000 in the aggregate outstanding at any one time; 

(m)    investments in the form of Hedging Agreements permitted under Section 6.07; 

(n)     [reserved]; and 

(o)    payroll, travel and similar advances to cover matters that are expected at the time of such
advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business. 

Notwithstanding anything to the contrary in this Section 6.04, the Borrower will not, nor will it permit any Subsidiary
to (i) form, acquire, incorporate or otherwise permit to exist any 

  
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Subsidiary that is not a Subsidiary on the Closing Date or (ii) make a loan or other advance to any director or officer of the Borrower or any of its Subsidiaries. 

SECTION 6.05    Asset Sales. The Borrower will not, nor will it permit any Subsidiary to, sell, transfer, lease or
otherwise dispose of any asset, including any Equity Interest owned by it, nor will it permit any Subsidiary to issue any additional Equity Interest in such Subsidiary, except: 

(a)    sales, transfers, leases and other dispositions of inventory, used or surplus equipment or other
obsolete assets, Permitted Investments and investments referred to in Section 6.04(h) in the ordinary course of business and consistent with the Approved Budget; 

(b)    sales, transfers and dispositions to the Borrower or a Subsidiary consistent with the Approved
Budget; provided that any such sales, transfers or dispositions involving a Subsidiary that is not a Loan Party shall be made in the ordinary course of business consistent with the Approved Budget and in compliance with Section 6.09;

 (c)    [reserved] 

(d)    the creation of Liens permitted by Section 6.02 and dispositions as a result thereof; 

(e)    [reserved]; 

(f)    [reserved]; 

(g)    Restricted Payments permitted by Section 6.08; 

(h)    transfers and dispositions constituting investments permitted under Section 6.04; and 

(i)    sales, transfers and other dispositions of property identified on Schedule 6.05. 

SECTION 6.06    Sale and Leaseback Transactions. The Borrower will not, nor will it permit any Subsidiary to, enter
into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such property or other property
that it intends to use for substantially the same purpose or purposes as the property sold or transferred. 
 SECTION
6.07    Hedging Agreements. The Borrower will not, nor will it permit any Subsidiary to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business and which are not
speculative in nature to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its assets or liabilities (including Hedging Agreements that effectively cap, collar or exchange
interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise)) (it being understood that the Borrower and its Foreign Subsidiaries may enter into Hedging Agreements consisting of cross-currency swaps
related to intercompany loans between the Borrower and/or its Foreign Subsidiaries). 

  
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 SECTION 6.08    Restricted Payments; Certain Payments of
Indebtedness. 
 (a)      The Borrower will not, nor will it permit any Subsidiary to, declare or make, or
agree to pay or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except: 

(i)      the Borrower may declare and pay dividends with respect to its Equity Interests payable
solely in additional common Equity Interests in the Borrower; 
 (ii)     Subsidiaries may declare
and pay dividends ratably with respect to their capital stock; and 
 (iii)    the Borrower may make
payments or deliveries in shares of common stock and cash in lieu of fractional shares required by the terms of, and otherwise perform its obligations under, the Convertible Notes Indenture (including, without limitation, making payments of interest
and principal thereon and/or making deliveries (other than in cash) due upon conversion thereof). 
 (b)     The
Borrower will not, nor will it permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any
Indebtedness, or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any
Indebtedness, except: 
 (i)      payment of Indebtedness created under the Loan Documents;

 (ii)     payment of regularly scheduled interest and principal payments as and when due in
respect of any Indebtedness, other than payments in respect of subordinated Indebtedness prohibited by the subordination provisions thereof; 

(iii)    refinancings of Indebtedness to the extent permitted by Section 6.01; 

(iv)     subject to the Term Intercreditor Agreement and the ABL/Term Loan Intercreditor Agreement,
the payment of secured Indebtedness out of the proceeds of any sale or transfer of the property or assets securing such Indebtedness; 

(v)      payment of or in respect of (A) Indebtedness created under the ABL Loan Documents
and (B) Indebtedness or obligations secured by the ABL Security Documents; 

(vi)     [reserved]; 

(vii)    [reserved]; and 

(viii)   the Borrower may make payments or deliveries in shares of common stock and cash in lieu of fractional
shares required by the terms of, and otherwise perform its obligations under, the Convertible Notes Indenture (including, without limitation, making payments of interest and principal thereon and/or making deliveries (other than in cash) due upon
conversion thereof). 

  
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 (c)    The Borrower will not, nor will it permit any Subsidiary to,
enter into or be party to, or make any payment under, any Synthetic Purchase Agreement. 
 SECTION
6.09    Transactions with Affiliates. The Borrower will not, nor will it permit any Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets
from, or otherwise engage in any other transactions with, any of its Affiliates, except: 

(a)    transactions that are at prices and on terms and conditions not less favorable to the Borrower or
such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties; provided that (i) in the case of any single transaction or series of transactions with a volume in
excess of $500,000, the board of directors of the Borrower shall have made a determination in good faith that such transaction or series of transactions, as applicable, is on prices and on terms and conditions not less favorable to the Borrower or
such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties and (ii) in the case of any single transaction or series of transactions with a volume in excess of
$1,500,000, the board of directors of the Borrower shall have engaged an independent financial advisor reasonably acceptable to the Required Lenders and such independent financial advisor shall have made a determination and delivered a customary
fairness opinion stating that such transaction or series of transactions, as applicable, is on prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an
arm’s-length basis from unrelated third parties; 

(b)    transactions between or among the Borrower and other Loan Parties not involving any other Affiliate
(to the extent not otherwise prohibited by other provisions of this Agreement); 
 (c)    any Restricted
Payment permitted by Section 6.08; and 
 (d)    transactions pursuant to agreements in effect on
the Closing Date and listed on Schedule 6.09 (provided that this clause (d) shall not apply to any extension, or renewal of, or any amendment or modification of such agreements that is less favorable to the Borrower or the applicable
Subsidiaries, as the case may be). 
 SECTION 6.10    Restrictive Agreements. The Borrower will not, nor will it
permit any Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur
or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the Borrower
or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document or existing on the date
hereof and identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), and (ii) clause (a) of the foregoing shall not apply to
(A) restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (B) customary
provisions in leases and other agreements restricting the assignment thereof. 
 SECTION 6.11    Amendment of
Material Documents. The Borrower will not, nor will it permit any Subsidiary to, amend, restate, modify or waive any of its rights under (a) its certificate of incorporation, by-laws or other
organizational documents, and (b) (i) any Material Agreement (other than any ABL Loan Document) or other agreements (including joint venture agreements), in each case to the 

  
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extent such amendment, restatement, modification or waiver is adverse to the Lenders in any material respect, (ii) any employment agreement or arrangement with any member of the senior
management of the Borrower or any Subsidiary, unless approved in writing by the Required Lenders exercising their reasonable discretion, (iii) any ABL Loan Document that (w) expands or adds to the obligations secured under any ABL Security
Documents (other than any obligations constituting Indebtedness created under the ABL Credit Agreement), (x) adds any mandatory prepayment provisions (only to the extent resulting in a corresponding permanent commitment reduction or requiring
prepayment from the net cash proceeds of the sale, transfer or other disposition of Term Priority Collateral or any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any
Term Priority Collateral) or changes any mandatory prepayment provisions in a manner that would increase the amount of any mandatory prepayment of the ABL Loans (only to the extent resulting in a corresponding permanent commitment reduction), (y)
increases the “Applicable Margin” or similar component of interest thereunder by more than 3.0% (other than as a result of accrual of interest at the default rate) or (z) adds an additional covenant or event of default or makes any
covenant or event of default in the ABL Loan Documents materially more restrictive or burdensome prior to the Latest Maturity Date then in effect (unless this Agreement is amended to provide all of the Lenders with the benefits of such covenants or
events of default), in each case under this clause (z), other than covenants and events of default solely relating to the Borrowing Base (as defined in the ABL Credit Agreement), the ABL Priority Collateral or similar matters relating primarily to
the asset based revolving nature of the ABL Credit Agreement or in respect of any Offshore Facilities Refinancing (as defined in the ABL/Term Loan Intercreditor Agreement). 

SECTION 6.12    Use of Proceeds. The Borrower will not request any Borrowing, and the Borrower shall not use, and
shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or
giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any
Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a Person organized in the United States or in a European Union member state, or (C) in any manner that would result in
the violation of any Sanctions applicable to any party hereto. The Borrower will not use the proceeds of the Loans in any manner that is not consistent with the Approved Budget. 

ARTICLE VII 
 Events of Default

 If any of the following events (“Events of Default”) shall occur: 

(a)    the Borrower shall fail to pay any principal of any Loan 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 otherwise; 

(b)    the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than
an amount referred to in clause (a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of two Business Days; 

(c)    any representation or warranty made or deemed made by or on behalf of the Borrower or any
Subsidiary in or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other 

  
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document furnished pursuant to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect
when made or deemed made; 
 (d)    the Borrower shall fail to observe or perform any covenant,
condition or agreement contained in Section 5.02, 5.04, 5.11 or 5.13(d) or (e) or in Article VI; 

(e)    any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in
any Loan Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 10 days; 

(f)    the Borrower or any Subsidiary shall fail to make any payment (whether of principal, interest or
other payment obligations) in respect of any Material Indebtedness, when and as the same shall become due and payable after giving effect to any applicable grace period with respect thereto; 

(g)    any event or condition occurs (including a “Fundamental Change” as defined in the
Convertible Notes Indenture) that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause
any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) 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; 

(h)    an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or
petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i)    the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any
petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely
and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or
any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or
(vi) take any action for the purpose of effecting any of the foregoing; 
 (j)    the Borrower or
any Subsidiary shall become unable, admit in writing in a court proceeding its inability or fail generally to pay its debts as they become due; 

(k)    one or more judgments for the payment of money in an aggregate amount in excess of $100,000 shall
be rendered against the Borrower, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which 

  
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execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such
judgment; 
 (l)      an ERISA Event shall have occurred that, in the opinion of the Required
Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 

(m)    any Lien covering property having a book value or fair market value of $100,000 or more purported
to be created under any Security Document shall cease to be, or shall be asserted in writing by any Loan Party not to be, a valid and perfected Lien on any Collateral, except (i) as a result of the sale or other disposition of the applicable
Collateral in a transaction permitted under the Loan Documents or (ii) as a result of the Administrative Agent’s failure to maintain possession of any stock certificates, promissory notes or other instruments delivered to it under the
Guarantee and Collateral Agreement; 
 (n)    the Guarantee contained in Article II of the Guarantee and
Collateral Agreement shall cease to be, or shall have been asserted in writing by a Loan Party not to be, in full force and effect; 

(o)    the Borrower or any Subsidiary shall challenge the subordination provisions of the Subordinated
Debt or assert that such provisions are invalid or unenforceable or that the Obligations of the Borrower, or the Obligations of any Subsidiary under the Guarantee and Collateral Agreement, are not senior Indebtedness under the subordination
provisions of the Subordinated Debt, or any court, tribunal or government authority of competent jurisdiction shall judge the subordination provisions of the Subordinated Debt to be invalid or unenforceable or such Obligations to be not senior
Indebtedness under such subordination provisions or otherwise cease to be, or shall be asserted not to be, legal, valid and binding obligations of the parties thereto, enforceable in accordance with their terms; 

(p)    a Change in Control shall occur; 

(q)    a Loan Party denies or contests the validity or enforceability of any Loan Documents (including any
of the Intercreditor Agreements) or Obligations, or any Loan Document (including any of the Intercreditor Agreements) ceases to be in full force or effect for any reason (other than a waiver or release by the Administrative Agent and Lenders); 

(r)    a loss, theft, damage or destruction occurs with respect to any Collateral if the amount not
covered by insurance exceeds $100,000; 
 (s)    any event occurs or condition exists that has a
Material Adverse Effect; or 
 (t)    the Borrower shall fail to pay any fees and expenses of the
Lenders (including fees and expenses of counsel) (to the extent any such fees and expenses have been invoiced on or prior to 5:00 p.m. New York City time on the Closing Date) prior to 5:00 p.m. New York City time on the Business Day immediately
following the Closing Date; provided that if the Borrower shall have initiated the applicable wire transfers to reimburse such fees and expenses prior to 5:00 p.m. New York City time on the Business Day immediately following the Closing Date,
then no Event of Default shall be deemed to have occurred under this clause (t) if such wires are received prior to 5:00 p.m. New York City time on the second Business Day following the Closing Date. 

  
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 then, and in every such event (other than an event with respect to the Borrower described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following
actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations
of the Borrower, accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower
described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued
hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

ARTICLE VIII 
 The Agents

 Each of the Lenders hereby irrevocably appoints the Administrative Agent (it being understood that references in this Article VIII to
the Administrative Agent shall be deemed to include the Collateral Agent) as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms
of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. 
 The entity serving as the
Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such entity and its Affiliates may accept deposits
from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder. 

The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the
generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty
to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing by the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to
disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any
capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 10.02) and the Administrative Agent shall not be liable for any action taken or not taken by it in the absence of its own gross negligence or willful misconduct as finally judicially determined by a court of
competent jurisdiction. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection 

  
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with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth in any Loan Document or the occurrence of any Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument
or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate,
consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by
it to be made by the proper Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel, independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 The Administrative Agent may perform
any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such
sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent. 
 The Administrative Agent may resign at any time
by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor from among the Lenders. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor
Administrative Agent. If no such successor is appointed, the Administrative Agent’s resignation shall nevertheless become effective 30 days following delivery of the resignation notice. Upon the acceptance of its appointment as Administrative
Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the Administrative Agent’s
resignation hereunder, the provisions of this Article and Section 10.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 
 Each Lender
acknowledges that it has, independently and without reliance upon the Administrative Agent, or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make
its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or related agreement or any document furnished hereunder or thereunder. 

  
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 ARTICLE IX 

[Reserved] 
 ARTICLE X 

Miscellaneous 
 SECTION
10.01    Notices. Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by
hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(a)    if to the Borrower, to Horizon Global Corporation at 2600 West Big Beaver Rd., Suite 555, Troy, MI
48084, Attention of Jay Goldbaum, Legal Director (Telephone No. (248) 593-8838, Telecopy No. (248) 203-6434); 

(b)    if to the Administrative Agent, to Cortland Capital Market Services LLC at 225 W. Washington St., 9th Floor, Chicago, Illinois 60606, Attention: Frances Real and Legal Department, Email: cpcagency@cortlandglobal.com and legal@cortlandglobal.com, with a copy to Davis Polk & Wardwell, 450 Lexington
Avenue, New York, New York 10017, Attention: Monica Holland, Email: monica.holland@davispolk.com; and 

(c)    if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative
Questionnaire. 
 Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the
other parties hereto. 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. 

SECTION 10.02    Waivers; Amendments. 

(a)    No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under
any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the
Administrative Agent or any Lender may have had notice or knowledge of such Default at the time. 
 (b)    Neither this
Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required
Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by the Administrative 

  
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Agent and the Loan Party or Loan Parties that are parties thereto, in each case with the written consent of the Required Lenders; provided that no such agreement shall (i) increase
the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender
affected thereby, (iii) postpone any date for the payment of any interest or fees payable hereunder, or reduce or forgive the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without
the written consent of each Lender affected thereby, (iv) postpone the maturity of any Loan, or any scheduled date of payment of the principal amount of any Loan under Section 2.10 without the written consent of the Supermajority Lenders,
(v) change Section 2.18(a), (b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (vi) change the percentages set forth in the definitions of
“Required Lenders”, “Supermajority Lenders” or any other provision of any Loan Document (including this Section) specifying the number or percentage of Lenders required to waive, amend or modify any rights
thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender, (vii) release all or substantially all of the Subsidiary Loan Parties from their Guarantees under the Guarantee and Collateral
Agreement (except as expressly provided in the Guarantee and Collateral Agreement), without the written consent of each Lender, (viii) release all or substantially all of the Collateral from the Liens of the Security Documents, without the
written consent of each Lender (except as expressly provided in the Security Documents), (ix) change the order of priority of payments set forth in Section 2.4 of the Guarantee and Collateral Agreement without the written consent of each
Lender, (x) increase the amount of Indebtedness that is permitted to be incurred by the Borrower or any Subsidiary of the Borrower and that is secured by any of the Collateral on an equal priority basis with or senior priority basis to the
Loans without the prior written consent of the Supermajority Lenders, (xi) agree to forbear, or instruct the Administrative Agent to forbear, from the exercise of remedies that are available under the Loan Documents after an Event of Default
without the written consent of the Supermajority Lenders or (xii) modify any of the approval rights of the Supermajority Lenders under any Loan Document without the consent of each Lender; provided, further, that no such agreement
shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Collateral Agent, without the written consent of the Administrative Agent or the Collateral Agent, as applicable. Notwithstanding the foregoing, any
provision of this Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative Agent if (i) by the terms of such agreement the Commitment of each Lender not consenting to the
amendment provided for therein shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of the principal of and interest accrued
on each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement. 
 (c)    In
connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”) requiring the consent of all Lenders or all affected Lenders or the Supermajority Lenders, if the consent of the Required Lenders to
such Proposed Change is obtained, but the consent to such Proposed Change of other Lenders whose consent is required is not obtained (any such Lender whose consent is not obtained as described in paragraph (b) of this Section being referred to
as a “Non-Consenting Lender”), then, so long as the Lender that is acting as Administrative Agent is not a Non-Consenting Lender, the Borrower may, at
its sole expense and effort, upon notice to such Non-Consenting Lender and the Administrative Agent, require such Non-Consenting Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in Section 10.04), 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) such Non-Consenting Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts), (ii) the Borrower or such assignee shall
have paid to the Administrative Agent 

  
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the processing and recordation fee specified in Section 10.04(b), (iii) such assignee shall consent to such Proposed Change and (iv) if such
Non-Consenting Lender is acting as the Administrative Agent, it will not be required to assign and delegate its interests, rights and obligations as Administrative Agent under this Agreement. Each party hereto
agrees that an assignment required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee, and that the Lender required to make such assignment need not
be a party thereto in order for such assignment to be effective. 
 (d)    Notwithstanding the foregoing, the
Administrative Agent and the Borrower may amend, modify or supplement any Loan Document without the consent of any Lender or the Required Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical
error or other manifest error in any Loan Document. 
 SECTION 10.03    Expenses; Indemnity; Damage Waiver. 

(a)    The Borrower shall pay (i) all reasonable
out-of-pocket expenses incurred by the Lenders, Agents and their Affiliates, including the reasonable fees, charges and disbursements of counsel and financial advisors,
in connection with the provision, negotiation and documentation of the credit facility provided for herein, due diligence investigation, the preparation and administration of the Loan Documents, the monitoring of the performance of the Borrower and
its Affiliates, or any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and (ii) all out-of-pocket expenses incurred by the Agents or any Lender, including the fees, charges and disbursements of any counsel for the Agents or any Lender, in connection with the enforcement or protection of its
rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made hereunder, including all such out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 
 (b)    The Borrower
hereby indemnifies the Agents, the Arrangers and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of
(i) the execution or delivery of any Loan Document or any other agreement or instrument contemplated hereby, the performance by the parties to the Loan Documents of their respective obligations thereunder or the consummation of the Transactions
or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) any actual or alleged presence or Release of Hazardous Materials on or from any Mortgaged Property or any other property currently or
formerly owned or operated by the Borrower or any Subsidiary, or any Environmental Liability related in any way to the Borrower or any Subsidiary, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any
of the foregoing, whether based on contract, tort or any other theory, and whether or not the same are brought by the Borrower, its equity holders, affiliates or creditors or any other Person and regardless of whether any Indemnitee is a party
thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (A) are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or (B) are determined by a court of competent jurisdiction by final and non-appealable
judgment to have arisen out of a material breach in bad faith by such Indemnitee of its obligations under the Loan Documents or (C) result from a dispute solely among Indemnitees, other than any claims against an Indemnitee in its capacity or
in fulfilling its role as an agent or arranger under the Loan Documents and other than any claims arising out of any act or omission of the Borrower or any of its Affiliates. This Section 10.03(b) shall not apply with respect to Taxes other
than any Taxes that represent losses or damages arising from any non-Tax claim. 

  
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 (c)    To the extent that any of the Borrower fails to pay any amount
required to be paid by it to the Administrative Agent under paragraph (a) or (b) of this Section 10.03 (and without limiting such party’s obligation to do so), each Lender severally agrees to indemnify and hold to the Administrative
Agent harmless from any such costs or liabilities, to the extent of such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent in its capacity as such. For purposes hereof, a Lender’s “pro rata
share” shall be determined based upon its share of the outstanding Loans and unused Commitments at the time. 

(d)    To the extent permitted by Applicable Law, the Borrower shall not assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof. 
 (e)    All amounts due under this
Section 10.03 shall be payable promptly after written demand therefor. 
 (f)    No director, officer, employee,
stockholder or member, as such, of any Loan Party shall have any liability for the Obligations or for any claim based on, in respect of or by reason of the Obligations or their creation; provided that the foregoing shall not be construed to
relieve any Loan Party of its Obligations under any Loan Document. 
 (g)    For the avoidance of doubt, this
Section 10.03 shall not apply to any Taxes, except to the extent any Taxes that represent losses, claims, damages or liabilities arising from any non-Tax claim. 

SECTION 10.04    Successors and Assigns. 

(a)    The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer
by the Borrower without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and,
to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    Any Lender may assign to one or more assignees (other than a natural person) all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender, a Lender Affiliate or an Approved Fund, each of
the Supermajority Lenders and the Administrative Agent must give their prior written consent to such assignment (which consent of the Administrative Agent shall not be unreasonably withheld or delayed), (ii) except in the case of an assignment to a
Lender, a Lender Affiliate or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment
(determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000 unless each of the Borrower and the Administrative Agent otherwise consent,
(iii) each partial assignment shall be made as 

  
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an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, (iv) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 and (v) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and
additional know-your-customer documentation; and provided, further, that any consent of the Borrower otherwise required under this paragraph shall not be required if an Event of Default under clauses (a), (h) or (i) of Article VII
has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto
and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto
but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of
this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. 

(c)    The Administrative Agent, acting for this purpose as a non-fiduciary agent
of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount of the Loans
owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive (absent manifest error), and the Borrower, the Administrative Agent and the Lenders shall treat
each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior written notice. 
 (d)    Upon its receipt of
a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire and know-your-customer documentation (unless the assignee shall already be a Lender hereunder),
the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and
record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 

(e)    Any Lender may, without the consent of the Borrower or the Administrative Agent, 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); provided that (i) such
Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent
and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce the Loan Documents and to approve any amendment, modification or waiver of any provision of the Loan Documents; provided that such agreement or instrument may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (f) of this Section, the
Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the limitations and requirements therein, 

  
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including the requirements under Section 2.17(f) (it being understood that the documentation required under Section 2.17(f) shall be delivered to the participating Lender)) to the same
extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section, provided that such Participant agrees to be subject to the provisions of Section 2.19 as if it were an assignee under
paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.18(c) as
though it were a Lender. With respect to any Loan made to the Borrower, each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each
Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (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, Loans or its other obligations under any
Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations or in connection with any income tax audit or other income tax proceeding of the Borrower. 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. 

(f)    A Participant shall not be entitled to receive any greater payment under Section 2.15 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 the prior written consent of the Borrower. A Participant that
would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the Borrower is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower to comply with Section 2.17(f) as though it were a Lender. 
 (g)    Any
Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 SECTION
10.05    Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this
Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans, regardless of any investigation made by any
such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall
continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated.
The provisions of Sections 2.15, 2.16, 2.17 and 10.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Commitments or the termination of this Agreement or any provision hereof. 

  
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 SECTION 10.06    Counterparts; Integration; Effectiveness. This
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other
Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent
shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement. 

SECTION 10.07    Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a
particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION
10.08    Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates 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 obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any
of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured.
The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 

SECTION 10.09    Governing Law; Jurisdiction; Consent to Service of Process. 

(a)    This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

(b)    The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of
or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined
in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement
or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 
 (c)    The
Borrower 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 any other Loan 

  
 -66- 

 
Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d)    Each party to this
Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law. 
 SECTION 10.10    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 ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION. 
 SECTION 10.11    Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 10.12    Confidentiality. Each of the Administrative Agent and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Lender Affiliates and to its and its Lender Affiliates’ directors, officers, employees and agents, including accountants, legal
counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential pursuant to the terms hereof), (b)
to the extent requested by any regulatory or quasi-regulatory authority, (c) to the extent required by Applicable Laws or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the
exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the
same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its
advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower, (h) to the extent such Information (i) is publicly available at the time of disclosure or becomes
publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential basis from a source other than the Borrower or any Subsidiary or (i) to data
service providers, including league table providers, that serve the lending industry, so long as such information consists of information customarily provided to such data service providers. For the purposes of this Section, “Information”
means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or its business, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis
prior to disclosure by the Borrower or any Subsidiary; provided that, in the case of information received from the Borrower or any Subsidiary after the Closing Date, such information is clearly identified at the time of delivery as
confidential. Any Person required to 

  
 -67- 

 
maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 SECTION
10.13    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest
on such Loan under Applicable Law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such
Loan in accordance with Applicable Law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges
that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 

SECTION 10.14    Intercreditor Agreements. Each Lender hereby authorizes and directs the Administrative Agent
and/or the Collateral Agent (a) to enter into the Intercreditor Agreements on its behalf, perform the Intercreditor Agreements on its behalf and take any actions thereunder as determined by the Administrative Agent or the Collateral Agent to be
necessary or advisable to protect the interest of the Lenders, and each Lender agrees to be bound by the terms of the Intercreditor Agreements and (b) to enter into any other intercreditor agreement reasonably satisfactory to the Administrative
Agent on its behalf, perform such intercreditor agreement on its behalf and take any actions thereunder as determined by the Administrative Agent or the Collateral Agent to be necessary or advisable to protect the interests of the Lenders, and each
Lender agrees to be bound by the terms of such intercreditor agreement. Each Lender acknowledges that (i) the ABL/Term Loan Intercreditor Agreement governs, among other things, Lien priorities and rights of the Lenders and the ABL Secured
Parties (as defined in the ABL/Term Loan Intercreditor Agreement) with respect to the Collateral, including the ABL Priority Collateral and (ii) the Term Intercreditor Agreement governs, among other things, Lien priorities and rights of the
Lenders and the Junior Secured Parties (as defined in the Term Intercreditor Agreement) with respect to the Collateral, including the Term Priority Collateral. In the event of a conflict between any Intercreditor Agreement and any other Loan
Document, the provisions of the applicable Intercreditor Agreement shall prevail. 
 SECTION 10.15    Release of
Liens and Guarantees. (a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Collateral Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any
Lender except as expressly required by Section 10.02) to take any action requested by the Borrower having the effect of releasing any Collateral or guarantee obligations (i) to the extent necessary to permit consummation of any transaction
not prohibited by any Loan Document or that has been consented to in accordance with Section 10.02 or (ii) under the circumstances described in paragraph (b) below. 

(b)    At such time as the Loans and the other obligations under the Loan Documents shall have been paid in full and the
Commitments have been terminated, the Collateral shall be released from the Liens created by the Security Documents, and the Security Documents and all obligations (other than those expressly stated to survive such termination) of the Collateral
Agent and each Loan Party under the Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person, the security interests in such Collateral created by the Security Documents shall be
automatically released without delivery of any instrument or performance of any act by any Person. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, such

  
 -68- 

 
certificate, believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. 

(c)    In connection with any termination or release pursuant to this Section, the Administrative Agent and the Collateral
Agent shall execute and deliver to any Loan Party all documents that such Loan Party shall reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section shall be without recourse to or
warranty by the Administrative Agent or the Collateral Agent. 
 SECTION 10.16    PATRIOT Act. Each Lender hereby
notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “PATRIOT Act”), it is required, or
will be required in the future, to obtain, verify and record information that identifies the Borrower and the other Loan Parties, which information includes the name and address of the Borrower and the other Loan Parties and other information that
will allow such Lender to identify the Borrower and the other Loan Parties in accordance with the PATRIOT Act. 
 SECTION
10.17    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
Borrower, its stockholders and/or its affiliates. The Borrower agrees that 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 any Lender,
on the one hand, and the Borrower, its stockholders or its affiliates, on the other. The Borrower acknowledges and agrees that (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder
and there under) are arm’s-length commercial transactions between the Lenders, on the one hand, and the Borrower, on the other, and (ii) in connection therewith and with the process leading thereto,
(x) no Lender has assumed an advisory or fiduciary responsibility in favor of the Borrower, its stockholders or its affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or
the process leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise the Borrower, its stockholders or its Affiliates on other matters) or any other obligation to the Borrower except the obligations
expressly set forth in the Loan Documents and (y) each Lender is acting solely as principal and not as the agent or fiduciary of the Borrower, its management, stockholders, creditors or any other Person. The Borrower acknowledges and
agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. The
Borrower agrees that it will not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to such borrower, in connection with such transaction or the process leading thereto. 

SECTION 10.18    Acknowledgement and Consent to Bail-In of EEA Financial
Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution
arising under any Loan Document may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities
arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b)    the
effects of any Bail-In Action on any such liability, including, if applicable: 

  
 -69- 

 (i)    a reduction in full or in part or cancellation of
any such liability; 
 (ii)    a conversion of all, or a portion of, such liability into shares or other
instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of
any rights with respect to any such liability under this Agreement or any other Loan Document; or 

(iii)    the variation of the terms of such liability in connection with the exercise of the write-down
and conversion powers of any EEA Resolution Authority. 
 [Signature Pages Follow] 

  
 -70- 

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

			
	HORIZON GLOBAL CORPORATION,
		
	By:	  	 /s/ Brian Whittman

		  	Name: Brian Whittman
		  	Title: Vice President, Finance

  
 [Signature Page to Bridge
Credit Agreement] 

 
			
	CORTLAND CAPITAL MARKET SERVICES LLC, individually and as Administrative Agent,
		
	By:	  	 /s/ Jessica J. Mead

		  	Name: Jessica J. Mead
		  	Title: General Counsel

  
 [Signature Page to Bridge
Credit Agreement] 

 LENDER SIGNATURE PAGE TO 

THE CREDIT AGREEMENT 
  

			
	 One Eleven Funding I, Ltd.
 One
Eleven Funding II, Ltd.
 By: Credit Suisse Asset Management, LLC, as portfolio manager,

		
	By:	 	 /s/ Thomas Flannery

		 	     Name: Thomas Flannery
		 	     Title: Authorized Signatory

  
 [Signature Page to Bridge
Credit Agreement] 

 LENDER SIGNATURE PAGE TO 

THE CREDIT AGREEMENT 
  

			
	 BTC Holdings Fund I, LLC,

By:  Blue Torch Credit Opportunities Fund I LP, its sole member

By:  Blue Torch Credit Opportunities GP LLC, its general partner,

		
	By:	 	 /s/ Kevin Genda

	Kevin Genda
	Authorized Signatory

  
 [Signature Page to Bridge
Credit Agreement] 

 LENDER SIGNATURE PAGE TO 

THE CREDIT AGREEMENT 
  

			
	KCOF Management VIII, L.L.C.
		
	By:	 	 /s/ Daniel Gewanter

		 	     Name: Daniel Gewanter
		 	     Title: Assistant Secretary

  
 [Signature Page to Bridge
Credit Agreement] 

 LENDER SIGNATURE PAGE TO 

THE CREDIT AGREEMENT 
  

			
	 SENIOR DEBT PORTFOLIO
 By: Boston
Management and Research
 as Investment Advisor

		
	By:	 	 /s/ Michael B. Botthof

		 	     Name: Michael B. Botthof
		 	     Title: Vice President

  
 [Signature Page to Bridge
Credit Agreement] 

 SCHEDULE 2.01 

COMMITMENTS 
 [On
file with the Administrative Agent] 

 SCHEDULE 3.03 

GOVERNMENTAL APPROVALS; NO CONFLICTS 

None. 

 SCHEDULE 3.05 

REAL PROPERTY 

Leased Property: 
  

			
	  

Subject Grantor

 
	  	  

Street Address
  

	 	 
	 Horizon Global Americas Inc.

 
	  	
29000-2 Aurora Rd, Solon, Ohio 44139

 

	 	 
	 Horizon Global Americas Inc.

 
	  	 3310 William Richardson Ct.,
South Bend, Indiana 46628
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 105-2 LM Gaines Blvd.
 Starke, Florida 75050

	 	 
	 Horizon Global Americas Inc.

 
	  	 2 Bishop Place, Camp Hill,
Pennsylvania 17011
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 2600 College Avenue, Goshen,
Indiana 46528
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 3180 S Willow, 103, Fresno,
California 93725
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 47912 Halyard Drive, Suite 100,
Plymouth, Michigan 48170
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 1050 Indianhead Drive, Mosinee,
Wisconsin 54455
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 6500 S. 35th Street, McAllen,
Texas 78503
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 8460 Gran Vista Drive, Building
C, El Paso, Texas 79907
  

	 	 
	 Horizon Global Company LLC

 
	  	 2600 West Big Beaver Road, Troy,
Michigan 48084
  

	 	 
	 Horizon Global Americas Inc.

 
	  	 32901 W. 193
St.
 Edgerton, Kansas 660211

 SCHEDULE 3.06 

DISCLOSED MATTERS 
  

			
	  
 Matter

 
	  	  
 Overview

 

	  
 Volkswagen/Audi/Daimler &
Westfalia
 (Germany)
	  	 Product Liability: Westfalia advised of product concern Volkswagen. Product at issue is an electrically deployable
towbar, which includes a locking pin supplied by a third party. To date, no evidence of failure in the field. No formal lawsuit has been filed.

 SCHEDULE 3.12 

SUBSIDIARIES 
  

							
	Corporate Name	  	Owner / Type of Equity Interest	  	Percentage Pledged	  	Is the Subsidiary an Obligor?
	AH Forgings Proprietary Limited	  	100% owned by Horizon Global (South Africa) (Pty) Ltd.	  	None	  	No
	C.P. Witter Limited	  	100% owned by Horizon Global European Holdings Limited	  	None	  	No
	Cequent Bermuda Holdings Ltd.	  	100% owned by Horizon Euro Finance LLC	  	None	  	No
	Cequent Brazil Holdings Coöperatief W.A.	  	99.99 % owned by Horizon Real Finance LLC and approx. 0.01% owned by Cequent Bermuda Holdings Ltd. (such ownership totaling 100%)	  	None	  	No
	Cequent Electrical Products de México, S. de R.L. de C.V.	  	99.97% owned by Cequent Mexico Holdings B.V. and approx. 0.03% owned by Cequent Sales Company de México, S. de R.L. de C.V. (such ownership totaling
100%)	  	None	  	No
	Cequent Indústria E Comércio Ltda.	  	99.99% owned by Cequent Brazil Holdings Coöperatief W.A. and 0.01% owned by Horizon Real Finance LLC (such ownership totaling 100%)	  	None	  	No
	Cequent Mexico Holdings B.V.	  	100% owned by Cequent UK Limited	  	None	  	No
	Cequent Nederland Holdings B.V.	  	100% owned by Horizon International Holdings LLC	  	100%	  	No
	Horizon Global Americas Inc.	  	100% owned by Horizon Global Company LLC	  	100%	  	Yes
	Cequent Sales Company de México, S. de R.L. de C.V.	  	99.97% owned by Cequent Nederland Holdings B.V. and approx. 0.03% owned by Cequent Mexico Holdings B.V. (such ownership totaling 100%)	  	None	  	No
	Cequent Towing Products of Canada, Ltd.	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Cequent UK Limited	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	HGHK Services C.V.	  	99.99% owned by Horizon Sourcing Holdings LLC and approx. 0.01% owned by Horizon Euro Finance LLC (such ownership totaling 100%)	  	None	  	No
	HZN FinCo IRL Holdings Limited	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	HZN Sourcing Oy	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Henrichs Beteiligungsgesellschaft mbH	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	Horizon Euro Finance LLC***	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Horizon GBP Finance LLC***	  	100% owned by Cequent Bermuda Holdings Ltd.	  	None	  	No
	Horizon Global Company LLC	  	100% owned by Horizon Global Corporation	  	100%	  	Yes
	Horizon Global Digital Limited	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No

							
	Corporate Name	  	Owner / Type of Equity Interest	  	Percentage Pledged	  	Is the Subsidiary an Obligor?
	Horizon Global European Holdings Limited	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Horizon Global Germany GmbH	  	100% owned by C.P. Witter Limited	  	None	  	No
	Horizon Global Holdings Australia Pty. Ltd.	  	100% owned by Cequent Bermuda Holdings Ltd.	  	None	  	No
	Horizon Global Hong Kong Holdings Limited	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Horizon Global (NZ) Limited	  	100% owned by Horizon Global Holdings Australia Pty Ltd.	  	None	  	No
	Horizon Global Pty. Ltd.	  	100% owned by Horizon Global Holdings Australia Pty. Ltd.	  	None	  	No
	Horizon Global (Shanghai) Trading Co. Ltd.	  	100% owned by Horizon Global Hong Kong Holdings Limited	  	None	  	No
	Horizon Global (South Africa) (PTY) LTD.	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Horizon Global Sourcing Operations and Innovation Center India Pvt. Ltd.	  	99.99% owned by Cequent Nederland Holdings B.V. and approx. 0.01% owned by Horizon Euro Finance LLC (such ownership totaling 100%)	  	None	  	No
	Horizon International Holdings LLC	  	100% owned by Horizon Global Americas, Inc.	  	100%	  	Yes
	Horizon Real Finance LLC***	  	100% owned by Cequent Bermuda Holdings Ltd.	  	None	  	No
	Horizon Sourcing B.V.	  	100% owned by Cequent Nederland Holdings B.V.	  	None	  	No
	Horizon Sourcing Holdings LLC***	  	100% owned by Horizon Euro Finance LLC	  	None	  	No
	Kovil Oy	  	100% owned by Horizon Global (Germany) GmbH	  	None	  	No
	Monoflex Nordic AB	  	100 % owned by Westfalia Nordic AB	  	None	  	No
	Parkside Towbars Pty. Ltd.	  	100% owned by Horizon Global Pty. Ltd.	  	None	  	No
	S.I.A.R.R. SAS	  	100% owned by Westfalia-Automotive SAS	  	None	  	No
	Teljs Automotive Srl Unit 2	  	99.995% owned by Teljs B.V. and approx. 0.0025% owned by TeIJs Holding B.V. (such ownership totaling 100%)	  	None	  	No
	Teljs B.V. 	  	100% owned by Teljs Holding B.V.	  	None	  	No
	Teljs Holding B.V. 	  	100% owned by HG Germany Holdings GmbH	  	None	  	No
	Terwa B.V. 	  	100% owned by Terwa Holdings B.V.	  	None	  	No
	Terwa China (China Rep Office) 	  	100% owned by Terwa B.V.	  	None	  	No
	Terwa Construction Systems Poland Sp.zo.o	  	100% owned by Terwa Construction Systems Srl	  	None	  	No
	Terwa Construction Systems Srl	  	100% owned by Terwa B.V.	  	None	  	No
	Terwa Holdings B.V. 	  	100% owned by Teljs B.V.	  	None	  	No
	Terwa Innovation B.V. 	  	100% owned by Terwa Holdings B.V.	  	None	  	No

							
	Corporate Name	  	Owner / Type of Equity Interest	  	Percentage Pledged	  	Is the Subsidiary an Obligor?
	Terwa Investors B.V. 	  	100% owned by Terwa Holdings B.V.	  	None	  	No
	Terwa Romania Srl Unit 1	  	99.995% owned by TeIJs B.V. and approx. 0.0025% owned by Terwa Innovation B.V. (such ownership totaling 100%)	  	None	  	No
	Westfalia American Hitch Inc.	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	Westfalia-Automotive Beteiligungsgesellschaft mbH	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	Westfalia-Automotive Denmark ApS	  	100% owned by Monoflex Nordic AB	  	None	  	No
	Westfalia-Automotive GmbH	  	100% owned by Westfalia-Automotive Holding GmbH	  	None	  	No
	Westfalia-Automotive Holding GmbH	  	100% owned by HG Germany Holdings GmbH	  	None	  	No
	Westfalia-Automotive Italia S.r.l.	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	Westfalia-Automotive Polska Sp.Zo.o	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	Westfalia-Automotive Russland OOO	  	99.1% owned by Westfalia-Automotive GmbH and approx. 0.9% owned by Westfalia-Automotive Beteiligungsgesellschaft mbH (such ownership totaling 100%)	  	None	  	No
	Westfalia-Automotive SAS	  	100% owned by Westfalia-Automotive Beteiligungsgesellschaft mbH	  	None	  	No
	Westfalia Nordic AB	  	100% owned by Westfalia-Automotive Beteiligungsgesellschaft mbH	  	None	  	No
	Westfalia UK Ltd.	  	100% owned by Westfalia-Automotive GmbH	  	None	  	No
	TriMotive Asia Pacific Limited	  	99.99% owned by Horizon Global Holdings Australia Pty. Ltd., approx. 0.001% owned by Horizon Euro Finance LLC, and approx. 0.0001% owned by Horizon GBP
Finance LLC, (such ownership totaling 100%)	  	None	  	No

 . 

 SCHEDULE 3.13 

INSURANCE 
 [See
attached.] 

  
 2018 -2019 HORIZON
GLOBAL CORPORATION INSURANCE SUMMARY 

															
	Coverage 	 	Carrier 	 	    AM Best    
Rating	 	                Policy 
#                	 	Policy Term 	  	Policy Limits	  	Deductibles / Retentions	  	
      DIC / DIL      

Master

	Property US & Foreign (TIV: $636,962,029)	 	Allianz	 	A+ XV	 	USP00032718	 	6/30/18-19	  	$150,000,000 Loss Limit Per Occurrence	  	$150,000	  	Yes
	Cargo	 	Indemnity Insurance Co of North America (Chubb)	 	A++ XV	 	N10757745	 	6/30/18-19	  	$5,000,000	  	$50,000 / $5,000 via truck or train	  	No
	Primary General Liability/ Employee Benefits Liability Foreign Difference in Conditions/Limits
General Liability Foreign Auto Excess Hired Non Owned Liability Foreign Voluntary Workers Compensation and Employers Liability	 	Federal (Chubb)	 	A++ XV	 	36036416	 	
6/30/18-19
  
	  	$1,000,000 Occurrence/$3,000,000 Products	  	US: $0 except $750,000 Products	  	Yes for General and Products Liability Only
	 	
6/30/18-19
  
	  	Aggregate /$4,000,000 General Aggregate	  	Foreign: $0
	 	
6/30/18-19
  
	  	$1,000,000 BI/PD Excess and DIC Only	  	Foreign: $0
	 	
6/30/18-19
  
	  	Voluntary Benefits for International Employees - Country of Hire	  	N/A
	Pollution	 	Illinois Union Ins Co (Chubb Environmental)	 	A++ XV	 	PPL G46655102 002	 	6/30/18-19	  	$5,000,000 Per Pollution Condition/Aggregate	  	$50,000	  	Yes over Mexico-as required Only
	Product Recall	 	Allianz Underwriters Insurance Co.	 	A+ XV	 	USL00038518	 	6/30/18-19	  	$12,000,000	  	$350,000 except 100,000 Euros Westfalia Germany	  	Yes
	Auto	 	Great Northern (Chubb)	 	A++ XV	 	73594370	 	6/30/18-19	  	$2,000,000	  	$2,000 Physical Damage	  	No
	Workers Compensation-CA, NH, NI, NY (USA)	 	Amerisure Mutual	 	A XI	 	WC2101771	 	6/30/18-19	  	Statutory/$1,000,000 Employers Liability	  	N/A	  	No
	Workers Compensation-Other US States	 	Amerisure Ins Co	 	A XI	 	WC2101772	 	6/30/18-19	  	Statutory/$1,000,000 Employers Liability	  	N/A	  	No
	Lead Umbrella	 	Allianz	 	A+ XV	 	USL00072118	 	6/30/18-19	  	$25,000,000	  	$25,000	  	No
	Excess Umbrella-First Layer	 	Great American Assurance Co	 	A+ XIV	 	EXC2275333	 	6/30/18-19	  	$25,000,000	  	Excess of $25,000,000 Excess of Primary	  	No
	Excess Umbrella-Second Layer	 	Endurance	 	A XV	 	EXC30000129002	 	6/30/18-19	  	$25,000,000	  	Excess of $50,000,000 Excess of Primary	  	No
	Excess Umbrella-Third Layer	 	Federal (Chubb)	 	A++ XV	 	9364-25-14	 	6/30/18-19	  	$25,000,000	  	Excess of $75,000,000 Excess of Primary	  	No
	Excess Punitive Damages Wrap	 	Allianz RKH Specialty	 	A+ XV	 	GBL003858181	 	6/30/18-19	  	$25,000,000	  	$10,000 SIR	  	No
	D&O Primary	 	National Union (AIG)	 	A XV	 	01-571-52-11	 	6/30/18-19	  	$5,000,000	  	$1,000,000	  	Yes
	Excess D&O-1st Layer	 	StarStone National Ins Co	 	A- XI	 	G83671180ASP	 	6/30/18-19	  	$5,000,000	  	Excess of $5,000,000	  	No
	Excess D&O-2nd Layer	 	AXIS Insurance Co	 	A+ XV	 	MCN788245/01/2018	 	6/30/18-19	  	$5,000,000	  	Excess of $10,000,000	  	No
	Excess D&O-3rd Layer	 	Great American	 	A+ XIV	 	DFX1491085	 	6/30/18-19	  	$5,000,000	  	Excess of $15,000,000	  	No
	Excess D&O-4th Layer	 	XL Specialty Insurance	 	A XV	 	ELU156220-18	 	6/30/18-19	  	$5,000,000	  	Excess of $20,000,000	  	No
	Excess D&O-5th Layer	 	Wesco Insurance Co	 	A- XV	 	EUW1522593 00	 	6/30/18-19	  	$5,000,000	  	Excess of $25,000,000	  	No
	Excess D&O-6th Layer	 	QBE Insurance Corp	 	A XV	 	QPL0960501	 	6/30/18-19	  	$5,000,000	  	Excess of $30,000,000	  	No
	Excess D&O-7th Layer	 	Endurance American Ins Co	 	A+ XV	 	DOX10013311800	 	6/30/18-19	  	$5,000,000	  	Excess of $35,000,000	  	No
	Excess D&O-8th Layer	 	Berkley Assurance Co	 	A+ XV	 	BPRO8033035	 	6/30/18-19	  	$5,000,000	  	Excess of $40,000,000	  	No
	Excess D&O-9th Layer	 	Hudson Insurance Co	 	A XV	 	HN-0303-5104	 	6/30/18-19	  	$5,000,000	  	Excess of $45,000,000	  	No
	Excess D&O-10th Layer	 	Old Republic Insurance Co	 	A+ XII	 	ORPRO 41011	 	6/30/18-19	  	$5,000,000	  	Excess of $50,000,000	  	No
	Excess D&O-11th Layer	 	Beazley Insurance Co, Inc	 	A XIII	 	V23973180101	 	6/30/18-19	  	$5,000,000	  	Excess of $55,000,000	  	No
	Excess Side A	 	National Union (AIG)	 	A XV	 	01-590-77-05	 	6/30/18-19	  	$15,000,000	  	Excess of $60,000,000	  	No
	Excess Side A	 	Westchester Fire Insurance Co.	 	A++ XV	 	G71151669 001	 	6/30/18-19	  	$5,000,000	  	Excess of $75,000,000	  	No
	Employment Practices	 	National Union (AIG)	 	A XV	 	01-498-04-22	 	6/30/18-19	  	$10,000,000	  	$500,000 except $1,000,000 Class Action	  	No
	Fiduciary	 	Illinois National (AIG)	 	A XV	 	01-457-51-26	 	6/30/18-19	  	$10,000,000	  	$25,000 except $50,000 Securities	  	No
	Crime	 	National Union (AIG)	 	A XV	 	01-454-18-14	 	6/30/18-19	  	$10,000,000	  	$150,000 except $0 ERISA	  	No
	Cyber Liability	 	Beazley Insurance Co, Inc	 	A XIII	 	V23973180101	 	6/30/18-19	  	$10,000,000	  	$100,000	  	No
	Employed Lawyers Errors & Omissions Liability	 	Illinois National (AIG)	 	A XV	 	01-498-03-90	 	6/30/18-19	  	$1,000,000	  	$10,000	  	No
	Kidnap & Ransom	 	National Union (AIG)	 	A XV	 	86-342-758	 	6/30/18-19	  	$15,000,000	  	$0	  	No
	Business Travel Accident	 	ACE American	 	A++ XV	 	ADDN10892089	 	6/30/18-19	  	$200,000 Class I / $50,000 Class II & III	  	N/A	  	Yes

 Summary does not include foreign local policy placements 

 SCHEDULE 3.20 

MATERIAL CONTRACTS 
  

	1.	 Supplier Agreement, dated as of November 6, 2006, between Horizon Global Americas Inc. (“HGA”),
and Citibank, N.A. (“Citibank”), in connection with HGA’s sale to Citibank of certain accounts receivables resulting from HGA’s sale of goods to AutoZone, Inc. 

	2.	 Purchase Agreement, dated as of May 8, 2012, between HGA and Bank of America, N.A. (“BofA”), in
connection with HGA’s sale to BofA of certain accounts receivables resulting from HGA’s sale of goods to Balkamp, Inc. 

	3.	 Supplier Agreement, effective as of September 27, 2011, between HGA and Branch Banking and Trust Company
(“BB&T”), in connection with HGA’s sale to BB&T of certain accounts receivables resulting from HGA’s sale of goods to O’Reilly Automotive Stores, Inc. f/k/a O’Reilly Automotive, Inc.
(“O’Reilly’s”), O’Reilly’s subsidiaries and related companies. 

	4.	 Supplier Agreement, dated as of October 27, 2011, between HGA, and Citibank, in connection with HGA’s
sale to Citibank of certain accounts receivables resulting from HGA’s sale of goods to Wal-Mart Stores, Inc. 

	5.	 Accounts Receivable Purchase Agreement, effective as of October 22, 2009, between HGA and BofA, in
connection with HGA’s sale to BofA of certain accounts receivables resulting from HGA’s sale of goods to Advance Stores Company, Incorporated and its successors and permitted assigns. 

	6.	 HGA is registered with C2FO for participation in invoice “early pay” programs for the following
customers: 

  

	 	a.	 Do It Best Corp.; 

	 	b.	 ACE Hardware Corporation; 

	 	c.	 Amazon.com, Inc.; and 

	 	d.	 Costco Wholesale Corporation 

	7.	 HGA is registered with The Home Depot U.S.A. Inc. (“Home Depot”) for participation in Home
Depot’s invoice “early pay” program. 

	8.	 Online Supplier Agreement (Drafts), dated as of March 20, 2017, between PrimeRevenue, HGA and Citizens
Bank of Pennsylvania, in connection with the sale of goods to Advance Auto.1 

	9.	 Online Supplier Agreement, dated as of March 20, 2017, between PrimeRevenue, HGA and Bank of
Tokyo-Mitsubishi UFJ (BTMU), in connection with the sale of goods to Lowe’s. 

	10.	 Accounts Receivable Purchase Agreement, dated as of May 17, 2017, between The Pep Boys – Manny,
Moe & Jack, PrimeRevenue and HGA. 

	11.	 Factoring Agreement, dated as of June 5, 2012, between Westfalia-Automotive GmbH and ABN AMRO Commercial
Finance GmbH, as amended.2 

	12.	 Factoring Agreement, between S.I.A.R.R SAS and BNP
Paribas.3 

  
  

 
 1 In FY2018, discounted receivables relating to numbers 8, 9 and 10 above were approximately $50MM. 
 2 Total receivables sold by legal entity in 2018: approximately $233,746,004 
 3 Total receivables sold by legal entity in 2018: approximately $9,057,766 
  

 SCHEDULE 5.13 

POST-CLOSING CONDITIONS 

[Attached] 

 SCHEDULE 5.13 

Post-Closing Schedule 
  

	1.	 As soon as practicable following the Closing Date (and in any event, no later than the second Business Day following
the Closing Date (with extensions to be granted by the Administrative Agent at the direction of the Required Lenders)), the Borrower shall provide evidence in the form of an intercompany note executed by the Borrower and all applicable Subsidiaries
that indebtedness and other liabilitilies (whether now existing or hereafter arising) owing by any Loan Party as of the Closing Date to any Subsidiary that is not a Loan Party shall be subordinated to the Obligations on subordination terms
reasonably satisfactory to the Administrative Agent and the Required Lenders; it being understood that such intercompany note shall be delivered to the Administrative Agent within five Business Days of the Closing Date (or such later date as the
Administrative Agent may determine in its reasonable discretion). 

  

	2	 The Loan Parties shall take all necessary actions (subject to the Agreed Security Principles set out in paragraph 2
below) to satisfy the items described below within thirty (30) days after the Closing Date (or, in each case, such longer periods as the Administrative Agent, acting at the direction of the Required Lenders, may agree): 

 

	 	(a)	 For each English Subsidiary Loan Party: 

 

	 	(i)	 an English law guarantee and debenture over substantially all of its assets; 

 

	 	(ii)	 a share pledge agreement entered into by its shareholder relating to the pledge over its shares; and

  

	 	(iii)	 such other resolutions, legal opinions, documents, instruments and other actions as may be necessary to effectuate the
intent of the parties with respect to the Collateral located in the United Kingdom to create a first priority perfected security interest therein. 

  

	 	(b)	 For each German Subsidiary Loan Party: 

 

	 	(i)	 a guarantee; 

  

	 	(ii)	 a share pledge agreement entered into by its shareholder relating to the pledge over its shares; and

  

	 	(iii)	 security over substantially all of its assets located in Germany including but not limited to the following security
documents, if applicable: 

  

	 	(A)	 an account pledge agreement relating to all accounts held by it with banks in Germany; 

 

	 	(B)	 a global assignment agreement relating to the assignment of accounts receivable from the selling of goods and the
provision of services as well as other accounts receivable agreed to be assigned by it (including, but not limited to, insurance claims and intercompany loan receivables); 

 

	 	(C)	 a security transfer agreement relating to the security transfer of all moveable (including stock and inventory) and
fixed assets over which security shall be granted; 

	 	(D)	 if it has any such rights, an IP pledge agreement relating to the pledge of its intellectual property rights
(including, but not limited to, patents, designs, utility models, trademarks, know-how and other IP rights); 

  

	 	(E)	 if it owns any real estate, a land charge over the real estate held by it; 

 SCHEDULE 6.01 

EXISTING INDEBTEDNESS 
  

									
	Company	 	Bank	 	
Facility

Details
	 	  

Outstanding Amount as of 1/27/2019
	 	Secured/ Unsecured
	Westfalia-Automotive GmbH	 	N/A	 	Capital Lease with Portikus	 	$10,213,3508	 	Secured
	Cequent Industria E Comerico Ltda., Westfalia-Automotive GmBH, Terwa Romania Srl Unit 1,
Teljs Automotive Srl Unit 2, Terwa B.V., Terwa Construction Systems Srl, Horizon Americas, Inc.	 	N/A	 	Capital Leases	 	$2,788,967	 	Secured
	Horizon Global Corporation Pty Ltd.	 	 National Australia

Bank Ltd., Australia
	 	Multi Facility Agreement	 	$11,728,530	 	Secured
	Terwa Romania Srl Unit 1	 	ING	 	Overdraft Credit Facility	 	$1,258,548	 	Secured
	Terwa Romania Srl Unit 1	 	N/A	 	Other	 	$982,857	 	Secured
	
Terwa B.V.
	 	N/A	 	Other	 	$85,598	 	Secured

 Note: the above schedule is subject to year-end audit adjustments 

 

	 	●	 	 Indebtedness evidenced by those certain factoring agreements listed on Schedule 3.20. 

 
 Intercompany Debt as listed below: 

 

							
	Borrower	  	Lender	  	Amount	  	 
	Horizon Global Holdings Australia Pty. Ltd.	  	Horizon International Holding LLC	  	$44,789,896.27	  	
	Horizon Global Corporation	  	Horizon International Holding LLC	  	$12,502,710.00	  	
	HG Germany Holdings GmbH	  	Horizon Global Corporation	  	$45,993,583.97	  	
	Cequent Nederland Holdings B.V.	  	Horizon Global Company LLC	  	$117,280,750.00	  	
	Westfalia – Automotive GmbH	  	Horizon Global Company LLC	  	$1,147,000,00	  	

 SCHEDULE 6.02 

EXISTING LIENS 
 Liens existing on
the Closing Date in respect of: 
 1.        Indebtedness set forth on Schedule 6.01 encumbering the assets
described on Schedule 6.01, to the extent that such Indebtedness is described as secured Indebtedness on such Schedule 6.01. 

2.        Lien evidenced by Initial Filing Number OH00161477063, filed on September 25, 2012, by Raymond Leasing
Corporation against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 
 3.        Lien evidenced
by Initial Filing Number 2009 0236023, filed on January 23, 2009, by Air Liquide Industrial U.S. LP against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 

4.        Lien evidenced by Initial Filing Number 2012 0866626, filed on March 6, 2012, by Wells Fargo Bank, N.A.
against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 
 5.        Lien evidenced by Initial
Filing Number 2013 2487248, filed on June 27, 2013, by Wells Fargo Financial Leasing, Inc. against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 

6.        Lien evidenced by Initial Filing Number 2013 3798981, filed on September 19, 2013, by LCA Bank
Corporation against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 
 7.        Lien evidenced
by Initial Filing Number 2013 4703188, filed on November 29, 2013, by Well Fargo Financial Leasing, Inc. against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 

8.        Lien evidenced by Initial Filing Number 2015 5309983, filed on November 12, 2015, by LCA Bank
Corporation against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 
 9.        Lien evidenced
by Initial Filing Number 2016 7591637, filed on December 7, 2016, by Well Fargo Bank, N.A. against Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 

10.      Lien evidenced by Initial Filing Number 2017 0850658, filed on February 7, 2017, by LCA Bank Corporation against
Cequent Consumer Products, Inc. (n/k/a Horizon Global Americas Inc.). 
 11.      Lien evidenced by Initial Filing Number 2016
1548856, filed on March 15,2016, by Well Fargo Financial Leasing, Inc. against Horizon Global Corporation. 

12.      Lien evidenced by Initial Filing Number 2016 1812344, filed on March 28, 2016, by Leaf Capital Funding, LLC and/or
its assigns against Horizon Global Corporation. 
 13.      Lien evidenced by Initial Filing Number 2016 3880422, filed on
June 28, 2016, by Well Fargo Financial Leasing, Inc. against Horizon Global Company LLC. 
 14.      Lien evidenced by
Initial Filing Number 2017 3151500, filed on May 12, 2017, by Mitsubishi UFJ Lease & Finance (U.S.A.) Inc., against Horizon Global Company LLC and Horizon Global Americas Inc. 

15.      Lien evidenced by Initial Filing Number 2017 3151542, filed on May 12, 2017, by Corporation Service Company, as
representative,. against Horizon Global Company LLC. 
 16.      Lien evidenced by Initial Filing Number 2017 5703415, filed on
August 28, 2017, by Summit Funding Group, Inc. against Horizon Global Company LLC. 

 17.      Lien evidenced by Initial Filing Number 2017 5906034, filed on
September 6, 2017, by CT Corporation System, as representative,. against Horizon Global Company LLC and Horizon Global Americas Inc. 

18.      Lien evidenced by Initial Filing Number 2017 8278089, filed on December 14, 2017, by CT Corporation System, as
representative,. against Horizon Global Company LLC. 
 19.      Lien evidenced by Initial Filing Number 201 2274419, filed on
April 3, 2018, by CT Corporation System, as representative,. against Horizon Global Company LLC. 
 20.      Lien
evidenced by Initial Filing Number 2018 3737521, filed on June 1, 2018, by CT Corporation System, as representative,. against Horizon Global Company LLC. 

 SCHEDULE 6.04 

EXISTING INVESTMENTS 
  

	 	A.	 Qualified Foreign Investments 

 

	 	1.	 Investments by Cequent Electrical Products de Mexico, S. de R.L. de C.V. in certificates of deposit,
banker’s acceptances and time deposits maturing within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, Comerica Bank, Compass, HSBC, Grand Cayman, and
in each case such investments shall be in Mexican Pesos. 

  

	 	2.	 Investments by Cequent Trailer Products, S. de R.L. de C.V. in certificates of deposit, banker’s
acceptances and time deposits maturing within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, Comerica Bank, Compass, HSBC, Grand Cayman, and in each case
such investments shall be in Mexican Pesos. 

  

	 	B.	 Other Investments 

 

	 	1.	 Horizon Global Americas Inc.’s loan to Cequent UK Limited in connection with the purchase by Cequent UK
Limited from Cequent Performance Products, Inc. of machinery, equipment and inventory to be located in the Juarez, Mexico facility; the aggregate amount of loans described in this clause (B)(1) and clause (B)(2) below do not exceed
$5.0 million. 

  

	 	2.	 Horizon Global Americas Inc.’s loan to Cequent UK Limited in connection with the purchase by Cequent UK
Limited from Cequent Performance Products, Inc. of machinery, equipment and inventory to be located in the Reynosa, Mexico facility; the aggregate amount of loans described in this clause (B)(2) and clause (B)(1) above do not exceed
$5.0 million. 

  

	 	3.	 Horizon Global Corporation’s investment in the Hong Kong Sourcing Office legal entity to provide legal
restructuring and operational funding in an aggregate amount not exceeding $2.5 million. 

  

	 	4.	 Investments by Horizon Global Corporation in one or more wholly-owned foreign subsidiaries for the purpose of
purchasing one or more foreign manufacturing facilities, including capital equipment and working capital, in an aggregate amount not exceeding $3.0 million. 

 

	 	5.	 Horizon Global Digital Limited’s investment in 20% of the issued share capital of Reckless Digital Group
Holdings Limited in a total consideration of GBP 360,000 paid to Ellie Warriner (GBP 45,000) and Lindsay Reckless (GBP 315,000) 

  

	 	6.	 Horizon Global Digital Limited’s loan to Reckless Digital Group Holdings Limited to be used for growth
initiatives and general working capital purposes, in an amount equal to GBP 300,000. 

	 	7.	 Cequent Industria e Comercio’s Ltda’s (fka Cequent Brazil Participacoes) purchase of Engetran
Engenharia, Industria, Comercio de Pecas e Acessorios Veiculares Ltda from Jorge Correia Karan of which there remains about $100,000 outstanding. 

  

	 	8.	 Cequent Industria e Comercio Ltda’s purchase of Dhelfos Industria E Comercio De Acessorios Ltda from
Ernani Mariano and Maria Luiza Gome De Goes, of which there remains about $2.5M outstanding. 

  

	 	9.	 Westfalia-Automotive GmbH owns 20% of EWV Management Consultancy Pty. 

Intercompany Debt as listed below: 
  

							
	Borrower	  	Lender	  	Amount	  	 
	Horizon Global Holdings Australia Pty. Ltd.	  	Horizon International Holding LLC	  	$44,789,896.27	  	
	Horizon Global Corporation	  	Horizon International Holding LLC	  	$12,502,710.00	  	
	HG Germany Holdings GmbH	  	Horizon Global Corporation	  	$45,993,583.97	  	
	Cequent Nederland Holdings B.V.	  	Horizon Global Company LLC	  	$117,280,750.00	  	
	Westfalia – Automotive GmbH	  	Horizon Global Company LLC	  	$1,147,000,00	  	

 SCHEDULE 6.05 

ASSET SALES 
 Item 1 below is an
ongoing transactions with respect to the Company’s maquila structure and generally allow the Company to transact under the normal course of business under this structure. 

 

	1.	 Intercompany sale for cash of machinery, equipment and/or inventory by Cequent Performance Products, Inc. to
Cequent UK Limited, which such machinery, equipment and/or inventory will be located in Cequent UK Limited’s Reynosa, Mexico facility 

  

	2.	 Terwa Holding B.V.’s pending divestiture of (i) all shares in Terwa B.V. to SISS Holding B.V; and
(ii) construction-related assets of Terwa Romania Srl Unit 1 to Terwa Construction Systems Srl for a purchase price of $5.5M USD on cash-free, debt-free basis, inclusive of $450K vendor loan (see item 3 below) 

 

	3.	 Terwa Holding B.V.’s pending receipt of vendor note from SISS Holding B.V. in connection with pending
divestiture of (i) all shares in Terwa B.V. to SISS Holding B.V; and (ii) construction-related assets of Terwa Romania Srl Unit 1 to Terwa Construction Systems Srl 

 SCHEDULE 6.09 

EXISTING AFFILIATE TRANSACTIONS 

The items set forth on Schedule 6.04, Sections B1, B2, B3, B4 and B5. The item set forth on Schedule 6.05, Item 1. 

 SCHEDULE 6.10 

EXISTING RESTRICTIVE AGREEMENTS 

None. 

 EXHIBIT A 
  

[FORM OF] ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth
below and is entered into by and between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and
[the][each]2 Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]3 hereunder are several and not joint.]4 Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement
identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an
agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and
obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified
below of all of such outstanding rights and obligations of [the Assignor][the respective Assignors] under the respective facilities identified below (including without limitation any guarantees included in such facilities), and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person,
whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing,
including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and
obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is
without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor. 
  

 

							
	 1.    Assignor[s]:
	 	  
	  	
				
		 	  
	 		  	
				
	  
	 		 		  	

 1 For bracketed language here and elsewhere in this form
relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. 

2 For bracketed language here and elsewhere in this form relating to the Assignee(s), if
the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. 

3 Select as appropriate. 

4 Include bracketed language if there are either multiple Assignors or multiple
Assignees. 

  

 EXHIBIT A 

[Assignor [is] [is not] a Defaulting Lender] 
  

							
	 2.    Assignee[s]:
	 	  
	  	
				
		 	  
	 		  	

 [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender] 

 

	3.	
Borrower:                      
Horizon Global Corporation 

  

	4.	 Administrative Agent: Cortland Capital Market Services LLC, as the administrative agent under the Credit
Agreement 

  

			
	
5.    Credit Agreement:           
 
	  	Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among HORIZON GLOBAL CORPORATION, the lenders from time
to time party thereto and CORTLAND CAPITAL MARKET SERVICES LLC, as Administrative Agent and Collateral Agent.

  

	6.	 Assigned Interest[s]: 

 

													
	 Assignor[s

]5
	 	Assignee[
s]6 	 	
Facility
Assigned
 7
	 	Aggregate
Amount of
Commitment/Lo ans for all Lenders8
	 	Amount of Commitment/L oans Assigned8 	 	Percentage Assigned of Commitment/ Loans9 	 	
CUSIP
 Number

	 	 	 	 	 	 	 $
	 	 $
	 	%    	 	 
	 	 	 	 	 	 	 $
	 	 $
	 	%    	 	 
	 	 	 	 	 	 	$	 	$	 	%    	 	 

  

							
	 [7.     Trade Date: 
	 	                        ]10	 		  	

 [Page break] 
  

 
 5 List each Assignor, as appropriate. 

6 List each Assignee, as appropriate. 

7 Fill in the appropriate terminology for the types of facilities under the Credit
Agreement that are being assigned under this Assignment (e.g., “Term Commitment,” “Incremental Term Commitment,” etc.) 

8 Amount to be adjusted by the counterparties to take into account any payments or
prepayments made between the Trade Date and the Effective Date. 
 9 Set forth, to at
least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

10 To be completed if the Assignor(s) and the Assignee(s) intend that the minimum
assignment amount is to be determined as of the Trade Date. 

  

 Effective
Date:                            , 20 [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to:

  

			
	ASSIGNOR[S]11
	[NAME OF ASSIGNOR]

 
			
		
	By:	 	  

 
			
	  Title:
	
	[NAME OF ASSIGNOR]

 
			
		
	By:	 	  

 
			
	  Title:
	
	ASSIGNEE[S]12
	[NAME OF ASSIGNEE]

 
			
		
	By:	 	  

 
			
	  Title:
	
	[NAME OF ASSIGNEE]

 
			
		
	By:	 	  

 
			
	  Title:

  
  
  

 
 11 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable). 
  

12 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager
making the trade (if applicable). 

  

			
	Consented to and Accepted13:
	
	 Cortland Capital Market Services LLC, as Administrative
Agent

			
		
	By:	 	  

			
	  Title:
	
	Consented to:
	
	[Horizon Global Corporation, as the Borrower]

			
		
	By:	 	  

			
	  Title:

  
  
  

 
  
  

 
  
  

 
  
  

 
  

13 Consents to be included to the extent required by Section 10.04(b) of the Credit
Agreement. 

  

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1.        Representations and Warranties. 

1.1    Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of [the][the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements,
warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of the Borrower, any Subsidiary or any other Person obligated in respect of any Loan Document, or (iv) the performance or observance by the Borrower, any Subsidiary or any other Person of any of
their respective obligations under any Loan Document. 
 1.2.    Assignee[s]. [The][Each]
Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a
Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under the Credit Agreement (subject to such consents, if any, as may be required under Section 10.04(b) of the Credit Agreement), (iii) from and after
the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with
respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type,
(v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other
documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest,
and (vii) attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it
will, independently and without reliance on the Administrative Agent, [the][any] Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking
or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2.        Payments. From and after the Effective Date, the Administrative Agent
shall make all payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which 

  

 have accrued to but excluding the Effective Date and to [the][the relevant] Assignee for
amounts which have accrued from and after the Effective Date. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective Date to [the][the
relevant] Assignee. 
 3.        General Provisions. This Assignment and
Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption
shall be governed by, and construed in accordance with, the law of the State of New York. 

  

 EXHIBIT B 

[FORM OF] BORROWING REQUEST 
 Cortland Capital
Market Services 
 LLC, as Administrative Agent 
 225 W.
Washington St, 9th Floor 
 Chicago, IL 60606 
 Attn: Legal
Department & CPC Agency 
 Email: legal@cortlandglobal.com; cpcagency@cortlandglobal.com 

[DATE] 
 Ladies and Gentlemen: 

Reference is made to the Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among HORIZON GLOBAL CORPORATION, the lenders from time to time party thereto and CORTLAND CAPITAL MARKET SERVICES LLC, as Administrative Agent and Collateral Agent.
Capitalized terms used but not otherwise defined herein shall have the meanings specified in the Credit Agreement. 
 This
notice constitutes a Borrowing Request and the Borrower hereby gives you notice, pursuant to Section 2.03 of the Credit Agreement, that it requests a Borrowing under the Credit Agreement, and in that connection the Borrower specifies the
following information with respect to such Borrowing: 
  

	 	(A)	 Aggregate principal amount of Borrowing :
$                             

 

	 	(B)	 Date of Borrowing (which is a Business Day):
                          

 

	 	(C)	 Type of Borrowing:14
                                        
                         

  

 
  

14         Specify ABR Borrowing or Eurocurrency
Borrowing. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. 

 2 
  

	 	(D)	 Interest Period and the last day thereof:15
                                    

  

	 	(E)	 Location and number of the Borrower’s account to which proceeds of the requested Borrowing are to be
disbursed: [NAME OF BANK] (Account No.:                        ) 

The Borrower hereby certifies that the conditions specified in paragraphs (m) and (n) of Section 4.02 of the Credit
Agreement have been satisfied. 
 [Remainder of page intentionally left blank; signature page follows] 

 

					
	Very truly yours,
	
	HORIZON GLOBAL CORPORATION
			
		 	 by
     
	 	  

		 		 	Name:
		 		 	Title:

  
  

 
 15        Applicable to Eurocurrency Borrowings only. Eurocurrency Borrowings shall be subject to the definition of “Interest Period” and can only be a
period of one Interest Period is not specified for a Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

 EXHIBIT C-1 

[FORM OF] 
 U.S. TAX CERTIFICATE

 (For Non-U.S. Lenders that Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Horizon Global Corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Cortland Capital Market
Services LLC, as Administrative Agent and Collateral Agent. 
 Pursuant to the provisions of Section 2.17 of the Credit Agreement, the
undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning
of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as
described in Section 881(c)(3)(C) of the Code and (v) the interest payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its
non-U.S. person status on the applicable IRS Form W-8BEN-E or W-8BEN. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent and (2) the undersigned shall have at all times
furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. 
 [NAME OF LENDER] 
  

			
	By:	 	  

		 	  Name:
		 	  Title:

 Date:                ,
20[    ] 

 EXHIBIT C-2 

[FORM OF] 
 U.S. TAX CERTIFICATE

 (For Non-U.S. Lenders that Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among Horizon Global Corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Cortland Capital
Market Services LLC, as Administrative Agent and Collateral Agent. 
 Pursuant to the provisions of Section 2.17 of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are the
sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned nor any of its partners/members is a bank extending
credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within
the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in
question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form
W-8IMY accompanied by the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) the applicable IRS Form W-8BEN-E or W-8BEN or (ii) an IRS form W- 8IMY accompanied by the applicable IRS form
W-8 from each of such partner’s/ member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information
provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly
completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them
in the Credit Agreement. 
 [NAME OF LENDER] 
  

			
	By:	 	  

		 	  Name:
		 	  Title:

 Date:                ,
20[    ] 

 EXHIBIT C-3 

[FORM OF] 
 U.S. TAX CERTIFICATE

 (For Non-U.S. Participants that are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Horizon Global Corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Cortland Capital Market
Services LLC, as Administrative Agent and Collateral Agent. For purposes of this exhibit, “Non-U.S. Participant” shall mean a Participant that is not a U.S. Person. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower
within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments in question are not
effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has furnished its participating
Lender with a certificate of its non-U.S. person status on the applicable IRS Form W-8BEN-E or
W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing and
(2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar
years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the
meanings given to them in the Credit Agreement. 
 [NAME OF PARTICIPANT] 
  

			
	By:	 	  

		 	  Name:
		 	  Title:

 Date:                ,
20[    ] 

 EXHIBIT C-4 

[FORM OF] 
 U.S. TAX CERTIFICATE

 (For Non-U.S. Participants that Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to the Credit Agreement dated as of February 20, 2019 (as amended, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Horizon Global Corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Cortland Capital Market
Services LLC, as Administrative Agent and Collateral Agent. For purposes of this exhibit, Non-U.S. Participant shall mean a Participant that is not a U.S. Person. 

Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten
percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code,
and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) the applicable IRS Form W-8BEN-E or W-8BEN or (ii) an IRS form W-8IMY accompanied by the applicable IRS form W-8 from each of such partner’s/ member’s
beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender
and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have
the meanings given to them in the Credit Agreement. 
  

							
		 	  [NAME OF PARTICIPANT]	  	

							
				
		 	By:	 	  
	  	
		 	Name:	  	
		 	Title:	  	

                  Date:   
             , 20[    ] 

 EXHIBIT D 

FORM OF GUARANTEE AND COLLATERAL AGREEMENT 

[See attached] 

  
  

 
  

GUARANTEE AND COLLATERAL AGREEMENT 

made by 
 HORIZON GLOBAL
CORPORATION 
 and certain of its Subsidiaries 

in favor of 
 CORTLAND CAPITAL
MARKET SERVICES LLC, 
 as Collateral Agent 

Dated as of February 20, 2019 
  

 
  

 GUARANTEE AND COLLATERAL AGREEMENT 

THIS GUARANTEE AND COLLATERAL AGREEMENT (as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to
time, this “Agreement”) is entered into as of February 20, 2019 by and among HORIZON GLOBAL CORPORATION, a Delaware corporation (the “Borrower”), certain of its Subsidiaries signatories hereto (the Borrower and
each such Subsidiary a “Grantor”, and collectively, the “Grantors”) and CORTLAND CAPITAL MARKET SERVICES LLC, as collateral agent (in such capacity, the “Collateral Agent”) for the entities (the
“Lenders”) from time to time parties to the Credit Agreement, dated as of February 20, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”) among the Borrower, the Lenders and the Collateral Agent. 
 PRELIMINARY STATEMENT 

WHEREAS, pursuant to the Credit Agreement, the Lenders have severally agreed to make extensions of credit to the Borrower upon the terms and
subject to the conditions set forth therein; 
 WHEREAS, the Borrower is a member of an affiliated group of companies that includes each
other Grantor; 
 WHEREAS, the Borrower and the other Grantors are engaged in related businesses, and each Grantor will derive substantial
direct and indirect benefit from the making of the extensions of credit under the Credit Agreement; and 
 WHEREAS, it is a condition
precedent to the obligation of the Lenders to make their respective extensions of credit to the Borrower under the Credit Agreement that the Grantors shall have executed and delivered this Agreement to the Collateral Agent for the ratable benefit of
the Secured Parties; 
 NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent and the Lenders to enter into
the Credit Agreement and to induce the Lenders to make their respective extensions of credit to the Borrower thereunder, each Grantor hereby agrees with the Collateral Agent, for the ratable benefit of the Secured Parties, as follows: 

ARTICLE I 
 DEFINITIONS

 1.1.    Terms Defined in Credit Agreement. All capitalized terms used herein and not otherwise defined
shall have the meanings assigned to such terms in the Credit Agreement. 
 1.2.    Terms Defined in UCC. Terms
defined in the UCC which are not otherwise defined in this Agreement are used herein as defined in Articles 8 or 9 of the UCC. 

1.3.    Definitions and Rules of Construction. Whenever the words “include”, “including”, or
“includes” appear in this Agreement, they shall be read to be followed by the words “without limitation” or words having similar import. 

 ARTICLE IIDefinitions of Certain Terms Used Herein. As used in this Agreement, in addition to the terms defined in the Preliminary Statement, the following terms shall have the following meanings:

 “ABL Priority Collateral” has the meaning set forth in the ABL/Term Loan Intercreditor Agreement. 

“Account Debtor” shall mean any person who is or who may become obligated to any Grantor under, with respect to or on account
of an Account. 
 “Article” means a numbered article of this Agreement, unless another document is specifically referenced.

 “Collateral” has the meaning set forth in Article III. 

“Collateral Deposit Account” means each Deposit Account of a Grantor other than an Excluded Account. 

“Collection Account” has the meaning set forth in Section 8.1(b). 

“Copyrights” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:
(a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments
now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of
any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 
 “Excluded
Accounts” means (a) Excluded Trust Accounts, (b) Deposit Accounts and Securities Accounts of the Loan Parties containing not more than $50,000 individually or $250,000 in the aggregate at any time, and (c) zero-balance accounts that sweep on a daily basis to an account maintained with the ABL Collateral Agent or subject to a Deposit Account control agreement for the benefit of the ABL Collateral Agent
pursuant to the terms of the ABL Loan Documents. 
 “Excluded Contract” means any contract or agreement to which a Grantor
is a party or any governmental permit held by a Grantor to the extent that (a) the terms of such contract, agreement or permit prohibit or restrict the creation, incurrence or existence of the security interest granted hereunder therein or the
assignment thereof without the consent of any party thereto other than the Borrower or any Subsidiary and (b) such prohibition or restriction is permitted under Section 6.10 of the Credit Agreement (other than to the extent that any such
term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of
the New York UCC or any other applicable law or principles of equity); provided that (i) the term “Excluded Contract” shall not include any rights for any amounts due or to become due pursuant to any Excluded Contract and
(ii) the Liens in favor of the Secured Parties shall attach immediately at such time as the condition causing such unenforceability shall be remedied and, to the extent severable, shall attach immediately to any portion of such contract or
agreement in which the creation, incurrence or existence of the security interest granted hereunder, or the assignment thereof, as the case may be, is not so prohibited or restricted; provided, further, that such Grantor shall use
commercially 

 
reasonable efforts to obtain all consents or waivers necessary to permit the grant of Liens in favor of the Secured Parties in such Excluded Contract. 

“Excluded Property” means (a) any asset, including, without limitation, Accounts and proceeds of Inventory, of any kind,
to the extent that (i) such asset is sold pursuant to any Specified Vendor Receivables Financing and in accordance with the applicable Specified Vendor Receivables Financing Documents and (ii) such sale or intended sale is permitted by
Section 6.05(c)(ii) of the Credit Agreement, (b) any asset acquired, constructed or improved pursuant to a capital lease or purchase money indebtedness permitted by Section 6.01(a)(viii) of the Credit Agreement, (c) Excluded
Contracts, (d) any Trademark applications filed in the United States Patent and Trademark Office on the basis of such Grantor’s “intent-to-use” such
trademark solely to the extent that, and solely during the period in which, granting a security interest in such Trademark application prior to such filing would adversely affect the enforceability or validity or result in the voiding thereof,
unless and until acceptable evidence of use of the Trademark has been filed with and accepted by the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), whereupon
such trademark application will, without any further action taken on the part of such Grantor or the Collateral Agent, be deemed to constitute Collateral, (e) any shares of Voting Stock of any Foreign Subsidiary or CFC in excess of 65% of the
issued and outstanding shares of Voting Stock of such Foreign Subsidiary or CFC (other than any CFC or Foreign Subsidiary organized under the laws of Germany, the United Kingdom (or any political subdivision thereof) or the Netherlands), (f) any
property or assets for which the creation or perfection of pledges of, or security interests in, pursuant to the Security Documents would result in material adverse tax consequences to the Loan Parties, as reasonably determined by the Borrower in
consultation with the Collateral Agent, (g) assets in circumstances where the cost of obtaining a security interest in such assets, including, without limitation, the cost of title insurance, surveys or flood insurance (if necessary) would be
excessive in light of the practical benefit to the Secured Parties afforded thereby as reasonably determined by the Borrower and the Collateral Agent, (h) any asset subject to a purchase money security interest, capital lease obligations or
similar arrangement, in each case, to the extent the grant of a security interest therein would violate or invalidate such purchase money or similar arrangement or create a right of termination in favor of any other party thereto after giving effect
to the applicable anti-assignment provisions of the New York UCC or other applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the New York UCC or other applicable law
notwithstanding such prohibition, (i) any property of a person existing at the time such person is acquired or merged with or into or consolidated with any Loan Party that is subject to a Lien permitted by Section 6.02(e) of the Credit
Agreement to the extent and for so long as the contract or other agreement in which such Lien is granted validly prohibits the creation of any other Lien on such property, (j) any Excluded Trust Accounts and (k) Equity Interests in any non-wholly owned Subsidiaries, but only to the extent that (x) the organizational documents or other agreements with equity holders of such non-wholly owned Subsidiaries
do not permit or restrict the pledge of such Equity Interests, or (y) the pledge of such Equity Interests (including any exercise of remedies) would result in a change of control, repurchase obligation or other adverse consequence to any of the
Loan Parties or such Subsidiary. 
 “Excluded Trust Accounts” means Deposit Accounts or Securities Accounts used
exclusively (a) for payroll, taxes or employee benefits, (b) to receive proceeds of Accounts sold to third parties pursuant to Specified Vendor Receivables Financings permitted under the Loan Documents, (c) to hold cash and/or cash
equivalents pledged to secure other obligations of the Borrower or any Subsidiary thereof pursuant to Liens permitted under the Loan Documents, (d) as escrow accounts, (e) as fiduciary or trust accounts, and accounts otherwise held
exclusively for 

 
the benefit of third parties, other than a Grantor and (f) that contain solely deposits permitted by clauses (c) and (d) of the definition of “Permitted Encumbrances” in the
Credit Agreement, including in connection with any letters of credit issued pursuant to such clauses, if the documents governing such deposits prohibit the granting of a Lien on such deposits. 

“Exhibit” refers to a specific exhibit to this Agreement, unless another document is specifically referenced. 

“Guarantor Obligations” means with respect to any Guarantor, all obligations and liabilities of such Guarantor which may
arise under or in connection with this Agreement (including, without limitation, Article II), whether on account of guarantee obligations, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all
fees and disbursements of counsel to the Collateral Agent or to the Secured Parties that are required to be paid by such Guarantor pursuant to the terms of this Agreement). 

“Guarantors” means the Grantors; provided that each Grantor shall be considered a Guarantor only with respect to the
Primary Obligations of any other Loan Party. 
 “Intellectual Property” means the collective reference to all rights,
priorities and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses,
the Trademarks and the Trademark Licenses, and all rights to sue at law or in equity for any infringement, misappropriation or violation thereof, including the right to receive all proceeds and damages therefrom. 

“Licenses” means, with respect to any Person, all of such Person’s right, title, and interest in and to (a) any and
all licensing agreements or similar arrangements in and to its Patents, Copyrights, or Trademarks, (b) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without
limitation, damages and payments for past and future breaches thereof, and (c) all rights to sue for past, present, and future breaches thereof. 

“Obligations” means, with respect to any Grantor, the collective reference to its Primary Obligations and its Guarantor
Obligations. 
 “Patents” means, with respect to any Person, all of such Person’s right, title, and interest in and
to: (a) any and all patents and patent applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisionals, continuations, renewals, and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments
for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 

“Pledged Chattel Paper” means all Chattel Paper, but only to the extent not constituting Excluded Property. 

“Pledged Collateral” means all Instruments, Securities and other Investment Property of the Grantors (other than Excluded
Property), whether or not physically delivered to the Collateral Agent pursuant to this Agreement. 

 “Pledged Securities” means any promissory notes, stock certificates or
other securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Primary Obligations” means, with respect to any Loan Party, the unpaid principal of and interest on (including interest
accruing after the maturity of the Loans and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to such Loan Party, whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding) the Loans and all other obligations and liabilities of such Loan Party to the Administrative Agent, the Collateral Agent or any other Secured Party, whether direct or indirect,
absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, any other Loan Documents (other than this Agreement) or any other document made,
delivered or given in connection herewith or therewith (other than this Agreement), whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including all fees, charges and disbursements of counsel to
the Administrative Agent, the Collateral Agent or to any other Secured Party that are required to be paid by such Loan Party pursuant to the terms of any of the foregoing agreements) or otherwise. 

“Proceeds” means all “proceeds” as such term is defined in
Section 9-102(a)(64) of the New York UCC and, in any event, shall include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments
with respect thereto. 
 “Receivables” means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and
any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral. 

“Section” means a numbered section of this Agreement, unless another document is specifically referenced. 

“Secured Parties” means the collective reference to the Administrative Agent, the Collateral Agent and the Lenders. 

“Specified Permitted Liens” means the Liens permitted under Sections 6.02(a) and 6.02(r) of the Credit Agreement, provided
that such Liens on the Collateral securing the obligations of the Loan Parties under the ABL Loan Documents remain subject to the ABL/Term Loan Intercreditor Agreement. 

“Stock Rights” means all dividends, instruments or other distributions and any other right or property which the Grantors
shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interests constituting Collateral, any right to receive Equity Interests and any right to receive
earnings, in which the Grantors now have or hereafter acquire any right, issued by an issuer of such Equity Interests. 

“Trademarks” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:
(a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all renewals of the
foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, 

 
including, without limitation, damages, claims, and payments for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing;
and (e) all rights corresponding to any of the foregoing throughout the world. 
 “UCC” means the Uniform Commercial
Code, as in effect from time to time, of the State of New York or of any other state the laws of which are required as a result thereof to be applied in connection with the attachment, perfection or priority of, or remedies with respect to,
Collateral Agent’s or any Lender’s Lien on any Collateral. 
 “Voting Stock” means, with respect to any Person,
Equity Interests issued by such Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even where the right so to vote has
been suspended by the happening of such a contingency. 
 The foregoing definitions shall be equally applicable to both the singular and
plural forms of the defined terms. 
 ARTICLE III 

GUARANTEE 

3.1.    Guarantee. (a) Each of the Guarantors hereby, jointly and severally, unconditionally
and irrevocably, guarantees to the Administrative Agent, for the ratable benefit of the Secured Parties and their respective successors, indorsees, transferees and assigns, the prompt and complete payment and performance by the Loan Parties when due
(whether at the stated maturity, by acceleration or otherwise) of the Primary Obligations of the Loan Parties. 

(b)    Anything herein or in any other Loan Document to the contrary notwithstanding, the maximum
liability of each Guarantor hereunder and under the other Loan Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal and state laws relating to fraudulent conveyances or transfers or the
insolvency of debtors (after giving effect to the right of contribution established in Section 2.2). 

(c)    Each Guarantor agrees that the Primary Obligations of the Loan Parties may at any time and from
time to time exceed the amount of the liability of such Guarantor hereunder without impairing the guarantee contained in this Article II or affecting the rights and remedies of the Administrative Agent or any Lender hereunder. 

(d)    The guarantee contained in this Article II shall remain in full force and effect until all the
Primary Obligations of the Loan Parties (other than contingent obligations, indemnification, expense reimbursement, tax gross-up or yield protection as to which no claim has been made) and the obligations of
each Guarantor under the guarantee contained in this Article II shall have been satisfied by payment in full and the Commitments shall be terminated, notwithstanding that from time to time during the term of the Credit Agreement the Loan Parties may
be free from any Primary Obligations. 
 (e)    No payment made by the Borrower, any other Loan Party,
any of the Guarantors, any other guarantor or any other Person or received or collected by the Administrative Agent, the Collateral Agent or any Lender from the Borrower, any other Loan Party, any of the Guarantors, any other guarantor or any other
Person by virtue of any action or proceeding or any 

 
set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Primary Obligations shall be deemed to
modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the Primary Obligations of the Loan Parties or any
payment received or collected from such Guarantor in respect of the Primary Obligations of the Loan Parties), remain liable for the Primary Obligations of the Loan Parties up to the maximum liability of such Guarantor hereunder until the Primary
Obligations of the Loan Parties (other than contingent obligations, indemnification, expense reimbursement, tax gross-up or yield protection in each case as to which no claim has been made) are paid in full
and the Commitments are terminated. 
 3.2.    Right of Contribution. Each Guarantor hereby
agrees that to the extent that a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has
not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 2.3. The provisions of this Section 2.2 shall in no respect limit the obligations and
liabilities of any Guarantor to the Secured Parties, and each Guarantor shall remain liable to the Secured Parties for the full amount guaranteed by such Guarantor hereunder. 

3.3.    No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds of any Guarantor by the Collateral Agent or any other Secured Party, no Guarantor shall be entitled to be subrogated to any of the rights of the Collateral Agent or any other Secured
Party against the Borrower, any other Loan Party or any other Guarantor or any collateral security or guarantee or right of offset held by the Collateral Agent or any other Secured Party for the payment of the Primary Obligations of the Loan
Parties, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Borrower, any other Loan Party or any other Guarantor in respect of payments made by such Guarantor hereunder, until all amounts owing to the
Collateral Agent and the other Secured Parties by the Loan Parties on account of the Primary Obligations (other than contingent obligations for indemnification, expense reimbursement, tax gross-up or yield
protection as to which no claim has been made) are paid in full and the Commitments are terminated. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of the Primary Obligations of the Loan
Parties (other than contingent obligations for indemnification, expense reimbursement, tax gross-up or yield protection as to which no claim has been made) shall not have been paid in full, such amount shall
be held by such Guarantor in trust for the Collateral Agent and the other Secured Parties, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Collateral Agent in the exact form
received by such Guarantor (duly indorsed by such Guarantor to the Collateral Agent, if required), to be applied against the Primary Obligations of the Loan Parties, whether matured or unmatured, in such order as the Collateral Agent may determine.

 3.4.    Amendments, etc. with respect to the Primary Obligations. Each Guarantor shall remain
obligated hereunder notwithstanding that, without any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Primary Obligations of the Loan Parties made by the
Collateral Agent or any other Secured Party may be rescinded by the Collateral Agent or such other Secured Party and any of the Primary Obligations of the Loan Parties continued, and the Primary Obligations of the Loan Parties, or the liability of
any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or 

 
in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Agent or any other Secured Party, and the Credit Agreement and the
other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Collateral Agent (or the Required Lenders or all Lenders, as the case may
be) may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Collateral Agent or any other Secured Party for the payment of the Primary Obligations of the Loan Parties may be sold,
exchanged, waived, surrendered or released. Neither the Collateral Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Primary Obligations of the Loan
Parties or for the guarantee contained in this Article II or any property subject thereto. 

3.5.    Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Primary Obligations of the Loan Parties and notice of or proof of reliance by the Collateral Agent or any other Secured Party upon the guarantee contained in this Article II or acceptance of the
guarantee contained in this Article II; the Primary Obligations of the Loan Parties, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee
contained in this Article; and all dealings between the Loan Parties, on the one hand, and the Collateral Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance
upon the guarantee contained in this Article II. Each Guarantor waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Borrower, any other Loan Party or any of the Guarantors with respect to the
Primary Obligations of the Loan Parties. Each Guarantor understands and agrees that the guarantee contained in this Article II shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) the
validity or enforceability of the Credit Agreement or any other Loan Document, any of the Primary Obligations of the Loan Parties or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time
to time held by the Collateral Agent or any other Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available to or be
asserted by the Borrower or any other Person against the Collateral Agent or any other Secured Party, or (c) any other circumstance whatsoever (with or without notice to or knowledge of the Borrower, any other Loan Party or such Guarantor)
which constitutes, or might be construed to constitute, an equitable or legal discharge of the Loan Parties for the Primary Obligations, or of such Guarantor under the guarantee contained in this Article II, in bankruptcy or in any other instance.
When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Collateral Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on or otherwise pursue
such rights and remedies as it may have against the Borrower, any other Loan Party, any other Guarantor or any other Person or against any collateral security or guarantee for the Primary Obligations of the Loan Parties or any right of offset with
respect thereto, and any failure by the Collateral Agent or any other Secured Party to make any such demand, to pursue such other rights or remedies or to collect any payments from the Borrower, any other Loan Party, any other Guarantor or any other
Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrower, any other Loan Party with Primary Obligations, any other Guarantor or any other Person or any such
collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the
Collateral Agent or any other Secured Party against any Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 

 3.6.    Reinstatement. The guarantee contained in
this Article II shall continue to be effective, or be reinstated, as the case may be, if at any time payment, or any part thereof, of any of the Primary Obligations of the Loan Parties is rescinded or must otherwise be restored or returned by the
Collateral Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower, any other Loan Party or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or
conservator of, or trustee or similar officer for, the Borrower, any other Loan Party or any Guarantor or any substantial part of its property, or otherwise, all as though such payments had not been made. 

3.7.    Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the
Collateral Agent without set-off or counterclaim in Dollars at its office designated by the Collateral Agent in writing to the Borrower from time to time. 

ARTICLE IV 
 GRANT OF
SECURITY INTEREST 
 Each Grantor hereby pledges, assigns and grants to the Collateral Agent, on behalf of and for the benefit of the
Secured Parties, to secure the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of such Grantor’s Obligations, a security interest in all of its right, title and interest in, to and
under all personal property and other assets, whether now owned by or owing to, or hereafter acquired by or arising in favor of such Grantor (including under any trade name or derivations thereof), and whether owned or consigned by or to, or leased
from or to, such Grantor, and regardless of where located (all of which will be collectively referred to as the “Collateral”), including: 

(a)    all Accounts; 

(b)    all Chattel Paper; 

(c)    all Deposit Accounts; 

(d)    all Documents (other than title documents with respect to Vehicles); 

(e)    all Equipment; 

(f)    all Fixtures; 

(g)    all General Intangibles; 

(h)    all Goods; 

(i)    all Instruments; 

(j)    all Intellectual Property; 

(k)    all Inventory; 

(l)    all Investment Property; 

 (m)    all cash or cash equivalents; 

(n)    all letters of credit,
Letter-of-Credit Rights and Supporting Obligations; 

(o)    all Commercial Tort Claims; 

(p)    all accessions to, substitutions for and replacements, proceeds (including Stock Rights), insurance
proceeds and products of the foregoing, together with all books and records, customer lists, credit files, computer files, programs, printouts and other computer materials and records related thereto and any General Intangibles at any time
evidencing or relating to any of the foregoing; 
 (q)    all other property not otherwise described
above (except for any property specifically excluded from any clause in this section above, and any property specifically excluded from any defined term used in any clause of this section above); 

(r)    all books and records pertaining to the Collateral; and 

(s)    to the extent not otherwise included in the foregoing, all Proceeds, Supporting Obligations and
products of any and all of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing; 

provided, however, that notwithstanding any of the other provisions set forth in this Agreement or the other Loan Documents, no
Excluded Property shall constitute Collateral under this Agreement. In addition, in no event shall perfection by control or similar arrangements be required with respect to any Deposit Account (other than the Term Collateral Proceeds Account) or
Securities Account; provided that, to the extent any Deposit Accounts and Securities Accounts are under the control of the ABL Collateral Agent at any time pursuant to the terms of the ABL/Term Loan Intercreditor Agreement, the ABL Collateral Agent
shall act as agent and gratuitous bailee for the Collateral Agent for the purpose of perfecting the Collateral Agent’s Liens in such Deposit Account and Securities Account. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

To induce the Collateral Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective
extensions of credit to the Borrower thereunder, each Grantor hereby represents and warrants to the Collateral Agent and each Lender that: 

5.1.    Title, Perfection and Priority. Such Grantor has good and valid rights in and title to the
Collateral with respect to which it has purported to grant a security interest hereunder and has full power and authority to grant to the Collateral Agent the security interest in such Collateral pursuant hereto and to execute, deliver and perform
its obligations in accordance with the terms of this Agreement, without the consent or approval of any other person other than any consent or approval that has been obtained. When financing statements naming such Grantor as debtor and the Collateral
Agent as secured party and providing a description of the Collateral with respect to which such Grantor has purported to grant a security interest hereunder have been filed in the appropriate offices against such Grantor in the locations listed on
Schedule 1.04 to the Perfection Certificate delivered on the Closing Date (or specified by notice from the Borrower to 

 
the Collateral Agent after the Closing Date in the case of filings, recordings or registrations required by Section 5.12 or 5.13 of the Credit Agreement), the Collateral Agent will have a
fully perfected first priority security interest, subject only to Liens permitted under Section 5.1(e), in that Collateral of the Grantor in which a security interest may be perfected by filing of an initial financing statement in the
appropriate office against such Grantor; provided that the filing of this Agreement (or a fully executed short-form agreement in form and substance reasonably satisfactory to the Collateral Agent) with the United States Patent and Trademark
Office and the United States Copyright Office or any successor office thereof is necessary to perfect the security interest of the Collateral Agent in respect of any United States issued and applied for Patents, United States federally registered
and applied for Trademarks and United States registered and applied for Copyrights acquired by such Grantor after the date hereof. When the Collateral Agent takes possession or Control of all Collateral with respect to which a security interest may
only be perfected by possession or Control, the Collateral Agent will have a fully perfected first priority (or such other priority required by any of the Intercreditor Agreements) security interest, subject only to Liens permitted under
Section 5.1(e), in such Collateral. 
 Such Grantor represents and warrants that fully executed security agreements in the form hereof
(or a fully executed short-form agreement in form and substance reasonably satisfactory to the Collateral Agent) and containing a description of all Collateral consisting of Intellectual Property with respect to United States issued Patents and
Patent applications and United States federally registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered (and applied for) Copyrights have been delivered to the Collateral
Agent for recording by the United States Patent and Trademark Office and the United States Copyright Office or any successor office thereof pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations
thereunder, as applicable, to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) in respect of all Collateral consisting of United States issued Patents and Patent
applications and United States federally registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered (and applied for) Copyrights in which a security interest may be perfected by
filing or recording in the United States Patent and Trademark Office and the United States Copyright Office or any successor office thereof. When such security agreements or short-form agreements have been filed in the United States Patent and
Trademark Office and the United States Copyright Office against such Grantor, the Collateral Agent will have a fully perfected first priority security interest, subject only to Liens permitted under Section 5.1(e), in respect of all Collateral
consisting of United States issued Patents and Patent applications and United States federally registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered (and applied for)
Copyrights in which a security interest may be perfected by filing or recording in such offices, and no further or subsequent filing or recording will be necessary (other than the financing statements referred to in the paragraph above and such
actions as are necessary to perfect the security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) with respect to any Collateral consisting of United States issued Patents and Patent applications and United States
federally registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered (and applied for) Copyrights acquired by such Grantor after the date hereof). Within the time period set
forth in Schedule 5.13 of the Credit Agreement (or such later date as the Collateral Agent may agree in its sole discretion), each Grantor party to this Agreement as of the Closing Date shall provide a perfected security interest over substantially
all material intellectual property owned by such Grantor but registered or licensed in a foreign country other than the U.S. where such a perfected security interest can readily be provided, omitting only that material intellectual property the
pledge and/or perfection of which would, in such Grantor’s good faith 

 
reasonable judgement, impose upon the Grantor or applicable Subsidiary material costs or material operational issues, or which the cost of doing so would, as reasonably agreed between such
Grantor and the Administrative Agent, exceed the benefit thereof. 
 5.2.    Jurisdiction of
Organization. The state of organization of such Grantor as of the Closing Date is set forth on Exhibit A. 

5.3.    Principal Location. The address of such Grantor’s chief executive office as of the
Closing Date and each other location where such Grantor maintains its books and records relating to any material portion of the Collateral, including accounts receivable and General Intangibles, are disclosed in Exhibit B. 

5.4.    Absence of Other Liens. The Collateral is owned by the Grantors free and clear of any Lien,
except for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement. Such Grantor has not filed or consented to the filing of (a) any financing statement or analogous document under the Uniform Commercial Code or any
other applicable laws covering any Collateral, (b) any assignment in which such Grantor assigns any Collateral or any security agreement or similar instrument covering any Collateral with the United States Patent and Trademark Office or the
United States Copyright Office or (c) any assignment in which such Grantor assigns any Collateral or any security agreement or similar instrument covering any Collateral with any foreign governmental, municipal or other office, which financing
statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement. Such Grantor does not hold any
commercial tort claim with a value in excess of $500,000 as of the Closing Date except as indicated on the Perfection Certificate. 

5.5.    Deposit Accounts. All of such Grantor’s Deposit Accounts and Securities Accounts in
existence on the Closing Date are listed on Exhibit E. 
 5.6.    [Reserved]. 

5.7.    Chattel Paper. Such Grantor’s Pledged Chattel Paper is maintained at its chief
executive office set forth in Exhibit B. None of the Pledged Chattel Paper has any marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person, other than those that have been terminated. The names of the
obligors, amounts owing, due dates and other information with respect to its Pledged Chattel Paper are and will be correctly stated in all material respects in all records of such Grantor relating thereto. 

5.8.    [Reserved]. 

5.9.    Intellectual Property. Exhibit C sets forth a true and complete list of (i) each
registered or applied for United States Patent, Trademark or Copyright owned by each Grantor as of the Closing Date (other than expired, abandoned or lapsed properties) and (ii) all Licenses under which a Grantor is an exclusive licensee of a
registered or applied for Patent, Trademark or Copyright as of the Closing Date. All Intellectual Property listed on Exhibit C is subsisting and unexpired, and to the knowledge of such Grantor, valid and enforceable. 

5.10.    [Reserved]. 

5.11.    Pledged Collateral. (a) Exhibit D sets forth a complete and accurate list of all
Pledged Securities (provided that, with respect to Pledged Securities constituting promissory 

 
notes and debt securities, Exhibit D only sets forth such Pledged Securities evidencing Indebtedness having an aggregate principal amount in excess of $500,000, payable or due to such Grantor by
or from any other Person (including any other Grantor)) owned by such Grantor as of the Closing Date. As of the Closing Date, such Grantor is the direct, sole beneficial owner and sole holder of record of the Pledged Securities listed on Exhibit D
as being owned by it, free and clear of any Liens, except for the security interest granted to the Collateral Agent for the benefit of the Lenders hereunder, Permitted Encumbrances and Specified Permitted Liens. Such Grantor further represents and
warrants that (i) all Pledged Collateral (solely with respect to Pledged Collateral issued by a Person other than a wholly owned Subsidiary of a Grantor, to the best of the Grantors’ knowledge) owned by it constituting Equity Interests has
been (to the extent such concepts are relevant with respect to such Pledged Collateral) duly authorized and validly issued and are fully paid and non-assessable; (ii) with respect to any certificates
delivered to the Collateral Agent representing Equity Interests, either such certificates are Securities as defined in Article 8 of the UCC as a result of actions by the issuer or otherwise, or, if such certificates are not Securities, such Grantor
has so informed the Collateral Agent so that the Collateral Agent may take steps to perfect its security interest therein as a General Intangible; (iii) all such Pledged Collateral held by a securities intermediary (other than in an Excluded
Account) is covered by a control agreement among such Grantor, the securities intermediary and the ABL Collateral Agent pursuant to which the ABL Collateral Agent has Control; provided that no such control agreements shall be required prior
to the date that is 60 days after the Closing Date (or such later date as may be agreed by the ABL Collateral Agent in its reasonable discretion) and (iv) all Pledged Collateral which represents Indebtedness owed to such Grantor (solely with
respect to Pledged Collateral issued by a Person other than a wholly owned Subsidiary of a Grantor, to the best of the Grantors’ knowledge) has been duly authorized, authenticated or issued and delivered by the issuer of such Indebtedness, is
the legal, valid and binding obligation of such issuer and such issuer is not in default thereunder. 

(b)     In addition, (i) the pledge of the Pledged Collateral pursuant to this Agreement does not
violate Regulation T, U or X of the Federal Reserve Board or any successor thereto, (ii) to the best of Grantor’s knowledge, none of the Pledged Collateral owned by it has been issued or transferred in material violation of the securities
registration, securities disclosure or similar laws of any jurisdiction to which such issuance or transfer may be subject, (iii) as of the Closing Date there are existing no options, warrants, calls or commitments of any character whatsoever
(A) relating to such Pledged Collateral or (B) which obligate the issuer of any Equity Interests included in the Pledged Collateral that is a direct or indirect subsidiary of any Borrower to issue additional Equity Interests, and
(iv) no consent, approval, authorization, or other action by, and no giving of notice, filing with, any governmental authority or any other Person is required for the pledge by such Grantor of such Pledged Collateral pursuant to this Agreement
or for the execution, delivery and performance of this Agreement by such Grantor, or for the exercise by the Collateral Agent of the voting or other rights provided for in this Agreement in accordance with the Intercreditor Agreements or for the
remedies in respect of the Pledged Collateral pursuant to this Agreement, except as may be required in connection with such disposition by laws affecting the offering and sale of securities generally or where the absence of which could not
reasonably be expected to have a Material Adverse Effect. 
 ARTICLE VI 

COVENANTS 

From the date of this Agreement, and thereafter until this Agreement is terminated, each Grantor agrees that: 

 6.1.     General. 

(a)    Collateral Records. Such Grantor agrees to maintain, at its own cost and expense, such
complete and accurate records with respect to the Collateral owned by it as is consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such
Grantor is engaged, but in any event to include complete accounting records indicating all payments and proceeds received with respect to any part of the Collateral, and, at such time or times as the Collateral Agent may reasonably request, promptly
to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail satisfactory to the Collateral Agent showing the identity, amount and location of any and all Collateral. 

(b)    Authorization to File Financing Statements; Ratification. Such Grantor hereby authorizes the
Collateral Agent to file, and if requested will deliver to the Collateral Agent, all financing statements and other documents and take such other actions as may from time to time be reasonably requested by the Collateral Agent in order to maintain a
first priority perfected security interest (subject to the Intercreditor Agreements) in and, if applicable, Control of, the Collateral owned by such Grantor. Any financing statement filed by the Collateral Agent may be filed in any filing office in
any applicable UCC jurisdiction and may (i) indicate such Grantor’s Collateral (1) as “all assets of the Grantor” or words of similar effect, regardless of whether any particular asset included in the Collateral falls within
the scope of Article 9 of the UCC of such jurisdiction, or (2) by any other description which reasonably approximates the description contained in this Agreement, and (ii) contain any other information required by part 5 of Article 9 of
the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor. Such
Grantor also agrees to furnish any such information described in the foregoing sentence to the Collateral Agent promptly upon request. 

(c)    Further Assurances. Such Grantor agrees, at its own expense, to execute, acknowledge,
deliver and cause to be duly filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the security interest of the
Secured Parties in the Collateral and the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the Liens hereunder and the filing of
any financing statements (including fixture filings) or other documents in connection herewith or therewith. If any amount in excess of $500,000 payable under or in connection with any of the Collateral shall be or become evidenced by any promissory
note or other instrument, such note or instrument shall be immediately pledged and promptly delivered to the Collateral Agent, duly endorsed in a manner satisfactory to the Collateral Agent. 

(d)    Disposition of Collateral. Such Grantor shall not make or permit to be made an assignment
for security, pledge or hypothecation of the Collateral or grant any other Lien in respect of the Collateral, except as expressly permitted by the Credit Agreement. Such Grantor shall not make or permit to be made any transfer of the Collateral and
such Grantor shall remain at all times in possession of the Collateral owned by it, except that (a) Inventory may be sold in the ordinary course of business and (b) unless and until the Collateral Agent shall notify the Borrower that an
Event of Default shall have occurred and be continuing and that during the continuance thereof the Grantors shall not sell, convey, lease, assign, transfer or otherwise dispose of any Collateral (which notice may be given by telephone if promptly
confirmed in writing), such Grantor may use and dispose of the Collateral in any lawful manner not prohibited by this Agreement, the Credit Agreement or any other Loan Document. 

 (e)    Liens. Such Grantor will not create,
incur, or suffer to exist any Lien on the Collateral owned by it except for the Specified Permitted Liens and Liens otherwise permitted by the Credit Agreement. 

(f)    Other Financing Statements. Such Grantor acknowledges that it is not authorized to file any
financing statement or amendment or termination statement with respect to any financing statement naming the Collateral Agent as secured party without the prior written consent of the Collateral Agent, subject to such Grantor’s rights under Section 9-509(d)(2) of the UCC. 
 (g)    Protection of
Security. Such Grantor shall, at its own cost and expense and at the request of the Collateral Agent, take any and all commercially reasonable actions necessary to defend title to the Collateral against all persons and to defend the security
interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement. 

(h)    Compliance with Terms. Such Grantor shall remain liable, as between itself and any relevant
counterparty, to observe and perform all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Collateral, all in accordance with the terms and conditions thereof, and such
Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the Secured Parties from and against any and all liability for such performance. 

6.2.     Receivables. 

(a)    Certain Agreements on Receivables. Except with respect to Excluded Property, during the
continuance of an Event of Default, such Grantor will not, without the Collateral Agent’s prior written consent, grant any extension of the time of payment of any of the Accounts, compromise, compound or settle the same for less than the full
amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of
business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged. 

(b)    [Reserved]. 

(c)    [Reserved]. 

(d)    Assignment of Security Interest. If at any time such Grantor shall take a security interest
in any property of an Account Debtor or any other person to secure payment and performance of an Account (except with respect to Excluded Property), such Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment
need not be filed of public record unless necessary to continue the perfected status of the security interest against creditors of and transferees from the Account Debtor or other person granting the security interest. 

(e)    Electronic Chattel Paper and Transferable Records. If such Grantor at any time holds or
acquires an interest with a value in excess of $500,000 in any Electronic Chattel Paper or any “transferable record,” as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or
in §16 of the Uniform Electronic Transactions Act 

 
as in effect in any relevant jurisdiction, such Grantor shall promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, shall take such action as the Collateral
Agent may reasonably request to vest in the Collateral Agent control under UCC §9-105 of such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and
National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with such Grantor that the Collateral Agent will
arrange, pursuant to procedures satisfactory to the Collateral Agent and so long as such procedures will not result in the Collateral Agent’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable
record permitted under UCC §9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or §16 of the Uniform Electronic Transactions Act
for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such Electronic Chattel Paper or transferable
record. 
 6.3.    [Reserved]. 

6.4.    Delivery of Tangible Chattel Paper. If such Grantor shall at any time hold or acquire any
Tangible Chattel Paper with a value in excess of $500,000, such Grantor shall promptly endorse, assign and deliver the same to the Collateral Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Collateral
Agent may from time to time reasonably request (which may take the form of Exhibit F hereto). 

6.5.    Uncertificated Securities. If any securities now or hereafter acquired by any Grantor are
uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly notify the Collateral Agent thereof and, at the Collateral Agent’s reasonable request and option, pursuant to an agreement
in form and substance satisfactory to the Collateral Agent, either (i) cause the issuer to agree to comply with instructions from the Collateral Agent as to such securities, without further consent of any Grantor or such nominee, or
(ii) arrange for the Collateral Agent to become the registered owner of the securities. 

6.6.    Pledged Collateral. 

(a)    Registration of Pledged Collateral. Such Grantor will permit any registerable Pledged
Collateral owned by it to be registered in the name of the Collateral Agent or its nominee at any time at the request of the Collateral Agent during the continuance of an Event of Default. Such Grantor will promptly give to the Collateral Agent
copies of any notices or other communications received by it with respect to Pledged Collateral registered in the name of such Grantor during the continuance of an Event of Default. The Collateral Agent shall at all times during the continuance of
an Event of Default have the right to exchange the certificates representing Pledged Collateral for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

(b)    Exercise of Rights in Pledged Collateral. 

(i)    Without in any way limiting the foregoing and subject to clause (ii) below,
such Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral owned by it for all purposes not inconsistent with this Agreement, the Credit Agreement or any other Loan Document; provided,
however, that each Grantor agrees that it shall not exercise any such right for any purpose prohibited by the terms of, or if the result thereof could materially and adversely affect the rights inuring

 
to a holder of the Pledged Collateral or the rights and remedies of any of the Secured Parties under, this Agreement or the Credit Agreement or any other Loan Document or the ability of the
Secured Parties to exercise the same. 
 (ii)    Such Grantor will permit the Collateral
Agent or its nominee at any time after the occurrence and during the continuation of an Event of Default, without notice, to exercise all voting rights or other rights relating to the Pledged Collateral owned by it, including, without limitation,
exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interests or Investment Property constituting such Pledged Collateral as if it were the absolute owner thereof. 

(iii)    Unless an Event of Default shall have occurred and be continuing, such Grantor
shall be entitled to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Collateral owned by it to the extent not in violation of the Credit Agreement. If an Event of Default shall occur and be
continuing and the Collateral Agent shall give notice of its intent to exercise such rights to the relevant Grantor or Grantors, the Collateral Agent shall have the right to receive all such cash dividends, interest, payments and other Proceeds paid
in respect of the Pledged Collateral. 
 6.7.    Intellectual Property. 

(a)    Such Grantor shall notify the Collateral Agent immediately if it knows or has reason to know that
any application or registration relating to any material Patent, Trademark or Copyright (now or hereafter existing) may become abandoned or dedicated, or of any adverse determination or development (including the institution of, or any such
determination or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court, but excluding routine matters during the course of any prosecution of applications before the United
States Patent and Trademark Office, the United States Copyright Office or any similar authority or successor office thereof) regarding such Grantor’s ownership of any material Patent, Trademark or Copyright, its right to register the same, or
to keep and maintain the same. 
 (b)    Whenever such Grantor, either by itself or through any agent,
employee, licensee or designee, shall (i) file an application for the registration of any Patent, Trademark or Copyright with the United States Patent and Trademark Office or the United States Copyright Office or any successor office thereof or
(ii) acquire any United States issued Patents or Patent applications, United States federally registered Trademarks (or Trademarks for which United States registration applications are pending) or United States registered (or applied for)
Copyrights, such Grantor shall report such filing or acquisition to the Collateral Agent within 45 days after the end of each of the first three fiscal quarters of each fiscal year of such Grantor and within 90 days after the end of each fiscal year
of such Grantor. Promptly after the provision of such reports, such Grantor shall execute and deliver to the Collateral Agent, and have recorded with the United States Patent and Trademark Office or the United States Copyright Office or any
successor office thereof, one or more security agreements or short-form agreements, as applicable, as described in Section 4.1 of this Agreement and any and all other agreements, instruments, documents, and papers as the Collateral Agent may
reasonably request to evidence the Collateral Agent’s and the Secured Parties’ first priority security interest in any Copyright, Patent or Trademark and the goodwill of such Grantor relating thereto or represented thereby. 

(c)    Such Grantor shall take all actions necessary to maintain and pursue each application, to obtain
the relevant registration and to maintain the registration of each of its Patents, 

 
Trademarks and Copyrights (now or hereafter existing), including the filing of applications for renewal, affidavits of use, affidavits of noncontestability and opposition and interference and
cancellation proceedings, unless such Grantor (in its reasonable business judgment) or the Collateral Agent shall reasonably determine that such Patent, Trademark or Copyright is in no way material to the conduct of such Grantor’s business.

 (d)    Such Grantor shall, unless it shall reasonably determine that such Patent, Trademark or
Copyright is in no way material to the conduct of its business or operations, promptly sue for infringement, misappropriation or dilution and to recover any and all damages for such infringement, misappropriation or dilution, and shall take such
other actions as the Collateral Agent shall reasonably deem appropriate under the circumstances to protect such Patent, Trademark or Copyright. In the event that such Grantor institutes suit because any of its Patents, Trademarks or Copyrights
constituting Collateral is infringed upon, or misappropriated or diluted by a third party, such Grantor shall comply with Section 5.8. 

(e)    Notwithstanding the foregoing provisions of this Section 5.7 or elsewhere in this Agreement,
nothing in this Agreement shall prevent any Grantor from abandoning or discontinuing the use or maintenance of any Intellectual Property that is immaterial to the conduct of its business, or from failing to take action to enforce license agreements
or pursue actions against infringers or take any other actions with respect to such Intellectual Property, if such Grantor determines in its reasonable business judgment that such abandonment, discontinuance, or failure to take action is desirable
in the conduct of its business. 
 6.8.    Commercial Tort Claims. If such Grantor shall at any
time hold or acquire a Commercial Tort Claim having a value in excess of $500,000, the Grantor shall promptly notify the Collateral Agent thereof in a writing signed by such Grantor, including a summary description of such claim, and enter into an
amendment to this Agreement, in the form of Exhibit F hereto, granting to the Collateral Agent a first priority (or such other priority required by any of the Intercreditor Agreements) security interest therein and in the proceeds thereof. 

6.9.    
Letter-of-Credit Rights. If such Grantor is at any time a beneficiary under a letter of credit now or hereafter issued in favor of such Grantor with a value in
excess of $500,000, such Grantor shall promptly notify the Collateral Agent thereof and, at the request and option of the Collateral Agent, such Grantor shall, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral
Agent, either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under the letter of credit or (ii) arrange for the Collateral Agent to
become the transferee beneficiary of the letter of credit, with the Collateral Agent agreeing, in each case, that the proceeds of any drawing under the letter of credit are to be paid to the applicable Grantor unless an Event of Default has occurred
or is continuing. 
 6.10.    [Reserved] 

6.11.    [Reserved] 

6.12.    No Interference. Such Grantor agrees that it will not interfere with any right, power and
remedy of the Collateral Agent provided for in this Agreement or now or hereafter existing at law or in equity or by statute or otherwise, or the exercise or beginning of the exercise by the Collateral Agent of any one or more of such rights, powers
or remedies. 

 6.13.    Insurance. Such Grantor, at its own
expense, shall maintain or cause to be maintained insurance covering physical loss or damage to the Inventory and Equipment in accordance with Section 5.07 of the Credit Agreement. Each Grantor irrevocably makes, constitutes and appoints the
Collateral Agent (and all officers, employees or agents designated by the Collateral Agent) as such Grantor’s true and lawful agent (and attorney-in-fact) for the
purpose, during the continuance of an Event of Default, of making, settling and adjusting claims in respect of Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for
the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto, in each case, upon prior notice from the Collateral Agent to the Grantors of its intention to exercise such rights. In the event that
any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance required hereby or to pay any premium in whole or part relating thereto, the Collateral Agent may, without waiving or releasing any obligation or
liability of the Grantors hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the Collateral Agent deems advisable. All
sums disbursed by the Collateral Agent in connection with this Section 5.13, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Collateral
Agent and shall be additional Obligations secured hereby. 
 6.14.    Change of Name; Location of
Collateral; Place of Business. Such Grantor agrees promptly to notify the Collateral Agent in writing of any change (i) in its corporate name, (ii) in the location of its chief executive office, or (iii) in its jurisdiction of
organization. Such Grantor agrees not to effect or permit any change referred to in the preceding sentence unless written notice has been delivered to the Collateral Agent and all filings have been made under the Uniform Commercial Code 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 first priority (or such other priority required by any of the Intercreditor Agreements) Lien upon all the
Collateral. Such Grantor agrees promptly to notify the Collateral Agent if any material portion of the Collateral owned or held by such Grantor is damaged or destroyed. 

6.15.    Credit Agreement Covenants. Such Grantor shall take, or shall refrain from taking, as the case may be,
each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Grantor or any of its Subsidiaries. 

6.16.    Delivery of the Pledged Equity. 

(a)    Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral Agent, for the
benefit of the Secured Parties, any and all Pledged Securities; provided that the Grantors shall only be required to deliver Pledged Securities evidencing Indebtedness to the extent the principal amount thereof exceeds $500,000. 

(b)    Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in
excess of $500,000 owed to such Grantor by any Person to be evidenced by a duly executed promissory note that is pledged and delivered to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereof. 

(c)    Upon delivery to the Collateral Agent, any Pledged Securities shall be accompanied by stock or
security powers duly executed in blank or other instruments of transfer reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the Collateral Agent may reasonably request (subject to the Collateral and
Guarantee Requirement). 

 
Each delivery of Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be deemed to supplement Exhibit D and made a part thereof; provided
that failure to supplement Exhibit D shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

(d)    Notwithstanding anything to the contrary in this Section 5.16, if the actions described in
this Section 5.16 have been taken in favor of the Term Loan Agent or the ABL Agent and, pursuant to the Term Intercreditor Agreement or the ABL/Term Intercreditor Agreement, as applicable, the Term Loan Agent or the ABL Agent, as applicable,
acts as agent and gratuitous bailee for the Collateral Agent for the purpose of perfecting the Collateral Agent’s Liens hereunder, such action shall only be required to be taken at the request of the Required Lenders. 

ARTICLE VII 
 EVENTS OF
DEFAULT AND REMEDIES 
 7.1.    Remedies. (a) Upon the occurrence and during the
occurrence and continuance of an Event of Default, the Collateral Agent may exercise any or all of the following rights and remedies: 

(i)    those rights and remedies provided in this Agreement, the Credit Agreement, or any
other Loan Document; provided that this Section 6.1(a) shall not be understood to limit any rights or remedies available to the Collateral Agent and the Secured Parties prior to an Event of Default; 

(ii)    those rights and remedies available to a secured party under the UCC (whether or
not the UCC applies to the affected Collateral) or under any other applicable law (including, without limitation, any law governing the exercise of a bank’s right of setoff or bankers’ lien) when a debtor is in default under a security
agreement; 
 (iii)    without notice (except as specifically provided in
Section 9.1 or elsewhere herein), demand or advertisement of any kind to any Grantor or any other Person, enter the premises of any Grantor where any Collateral is located (through self-help and without judicial process) to collect, receive,
assemble, process, appropriate, sell, lease, assign, grant an option or options to purchase or otherwise dispose of, deliver, or realize upon, the Collateral or any part thereof in one or more parcels at public or private sale or sales (which sales
may be adjourned or continued from time to time with or without notice and may take place at any Grantor’s premises or elsewhere), for cash, on credit or for future delivery without assumption of any credit risk, and upon such other terms as
the Collateral Agent may deem commercially reasonable; and 
 (iv)    concurrently with
written notice to the applicable Grantor, transfer and register in its name or in the name of its nominee the whole or any part of the Pledged Collateral, exchange certificates or instruments representing or evidencing Pledged Collateral for
certificates or instruments of smaller or larger denominations, exercise the voting and all other rights as a holder with respect thereto, collect and receive all cash dividends, interest, principal and other distributions made thereon and otherwise
act with respect to the Pledged Collateral as though the Collateral Agent was the outright owner thereof. 

(b)    The Collateral Agent, on behalf of the Secured Parties, may comply with any applicable state or
federal law requirements in connection with a disposition of the Collateral 

 
and compliance will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. 

(c)    The Collateral Agent shall have the right upon any such public sale or sales and, to the extent
permitted by law, upon any such private sale or sales, to purchase (including by credit bidding) for the benefit of the Collateral Agent and the Secured Parties, the whole or any part of the Collateral so sold, free of any right of equity
redemption, which equity redemption the Grantor hereby expressly releases. 
 (d)    Until the
Collateral Agent is able to effect a sale, lease, or other disposition of Collateral, the Collateral Agent shall have the right to hold or use Collateral, or any part thereof, to the extent that it deems appropriate for the purpose of preserving
Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent. The Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Collateral and to enforce any of the
Collateral Agent’s remedies (for the benefit of the Collateral Agent and Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. 

(e)    [Reserved]. 

(f)    Notwithstanding the foregoing, neither the Collateral Agent nor any other Secured Party shall be
required to (i) make any demand upon, or pursue or exhaust any of its rights or remedies against, any Grantor, any other obligor, guarantor, pledgor or any other Person with respect to the payment of the Obligations or to pursue or exhaust any
of its rights or remedies with respect to any Collateral therefor or any direct or indirect guarantee thereof, (ii) marshal the Collateral or any guarantee of the Obligations or to resort to the Collateral or any such guarantee in any
particular order, or (iii) effect a public sale of any Collateral. 
 (g)    Each Grantor
recognizes that the Collateral Agent may be unable to effect a public sale of any or all the Pledged Collateral and may be compelled to resort to one or more private sales thereof in accordance with clause (a) above. Each Grantor also
acknowledges that any private sale may result in prices and other terms less favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been
made in a commercially unreasonable manner solely by virtue of such sale being private. The Collateral Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit any Grantor or the
issuer of the Pledged Collateral to register such securities for public sale under the Securities Act of 1933, as amended, or under applicable state securities laws, even if the applicable Grantor and the issuer would agree to do so. 

7.2.    Grantor’s Obligations Upon Default. Upon the request of the Collateral Agent after the
occurrence and during the occurrence and continuance of an Event of Default, each Grantor will: 

(a)    assemble and make available to the Collateral Agent the Collateral and all books and records
relating thereto at any place or places reasonably specified by the Collateral Agent, whether at a Grantor’s premises or elsewhere; 

(b)    permit the Collateral Agent, by the Collateral Agent’s representatives and agents, to enter,
occupy and use any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral or the books and records relating thereto, or both, to
remove all or any part of the Collateral or 

 
the books and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay the Grantor for such use and occupancy; 

(c)    prepare and file, or cause an issuer of Pledged Collateral to prepare and file, with the Securities
and Exchange Commission or any other applicable government agency, registration statements, a prospectus and such other documentation in connection with the Pledged Collateral as the Collateral Agent may request, all in form and substance
satisfactory to the Collateral Agent, and furnish to the Collateral Agent, or cause an issuer of Pledged Collateral to furnish to the Collateral Agent, any information regarding the Pledged Collateral in such detail as the Collateral Agent may
specify; 
 (d)    take, or cause an issuer of Pledged Collateral to take, any and all actions necessary
to register or qualify the Pledged Collateral to enable the Collateral Agent to consummate a public sale or other disposition of the Pledged Collateral; and 

(e)    at its own expense, cause the independent certified public accountants then engaged by each Grantor
to prepare and deliver to the Collateral Agent, at any time, and from time to 
 (f)    time, promptly
upon the Collateral Agent’s request, the following reports with respect to the applicable Grantor: (i) a reconciliation of all Accounts; (ii) an aging of all Accounts; (iii) trial balances; and (iv) a test verification of
such Accounts. 
 7.3.    Grant of Intellectual Property License. For the exclusive purpose of
enabling the Collateral Agent to exercise rights and remedies under this Agreement at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies at any time upon the occurrence and during the continuance of an
Event of Default, each Grantor hereby (a) grants to the Collateral Agent a non-exclusive, irrevocable (until the termination of this Agreement) license (exercisable without payment of royalty or other
compensation to any Grantor) to use, license or sublicense any rights in, to or under any or all Intellectual Property now owned or hereafter acquired by such Grantor, wherever such Intellectual Property may be located, and including in such license
access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof and (b) irrevocably agrees that the Collateral Agent may, upon the
occurrence and during the continuation of an Event of Default, sell any of such Grantor’s Inventory directly to any Person, including, without limitation, Persons who have previously purchased such Grantor’s Inventory from any Grantor and
in connection with any such sale or other enforcement of the Collateral Agent’s rights under this Agreement, may sell Inventory which bears any Trademark owned by or licensed to any Grantor and any Inventory that is covered by any Copyright
owned by or licensed to any Grantor and the Collateral Agent may finish any work in process and affix any Trademark owned by or licensed to any Grantor and sell such Inventory as provided herein (it being understood that the Trademarks and
Copyrights licensed to any such Grantor shall be subject to, and as permitted by, the terms of licenses governing such licensed Trademarks and Copyrights); provided, however, that nothing in this Section 6.3 shall require any Grantor to grant
any license that is prohibited by any rule of law, statute or regulation, or is prohibited by, or constitutes a breach or default under or results in the termination of any contract, license, agreement, instrument or other document. With respect to
Trademarks included in the foregoing license, such license shall be subject to the requirement that the quality of goods and services offered under the Trademarks by the Collateral Agent be substantially consistent with the quality of the goods and
services offered thereunder by such Grantor prior to the Collateral Agent’s exercise of such license. Any license, sublicense or other transaction entered into by the 

 
Collateral Agent in accordance herewith shall be binding upon the applicable Grantor notwithstanding any subsequent cure of an Event of Default. Upon the occurrence and during the continuance of
an Event of Default, upon the Collateral Agent’s request, such Grantor will use its commercially reasonable efforts to secure all consents and approvals necessary or appropriate for the assignment to the Collateral Agent of any material License
held by such Grantor and to enforce the security interests granted hereunder. 
 7.4.     Application of
Proceeds. The Collateral Agent shall apply the proceeds of any collection or sale of the Collateral, as well as any Collateral consisting of cash, as follows: 

FIRST, to the payment of all reasonable costs and expenses incurred by the Collateral Agent (in its capacity as the Collateral Agent or
Administrative Agent hereunder or under any other Loan Document) in connection with such collection or sale or otherwise in connection with this Agreement or any of the Obligations, including all court costs and the reasonable fees and expenses of
its agents and legal counsel, the repayment of all advances made by the Collateral Agent (or the Administrative Agent) hereunder or under any other Loan Document on behalf of any Grantor and any other reasonable costs or expenses incurred by the
Collateral Agent (or the Administrative Agent) in connection with the exercise of any right or remedy hereunder or under any other Loan Document; 

SECOND, to the payment in full of the Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance
with the amounts of the Obligations owed to them on the date of any such distribution); and 
 THIRD, to the Grantors, their successors or
assigns, or as a court of competent jurisdiction may otherwise direct. 
 The Collateral Agent shall have absolute discretion as to the time
of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of the Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt
of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the
purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 

7.5.    Proceeds to be Turned Over or Received by the Collateral Agent. In addition to the rights
of the Collateral Agent and the Secured Parties specified in Section 7.2 with respect to payments of Accounts, if an Event of Default shall occur and be continuing, upon the request of the Collateral Agent, all Proceeds received by any Grantor
consisting of cash, checks and other near-cash items shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned
over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral Agent in a
collateral account established by the Collateral Agent maintained under its sole dominion and control. All such Proceeds while held by the Collateral Agent in such a collateral account (or by such Grantor in trust for the Collateral Agent and the
Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in the Intercreditor Agreements. 

 ARTICLE VIII 

ACCOUNT VERIFICATION; ATTORNEY IN FACT; PROXY 

8.1.    Account Verification. The Collateral Agent may at any time after the occurrence and during
the occurrence and continuance of an Event of Default, in the Collateral Agent’s own name, in the name of a nominee of the Collateral Agent, or in the name of any Grantor communicate (by mail, telephone, facsimile or otherwise) with the Account
Debtors of any such Grantor, parties to contracts with any such Grantor and obligors in respect of Instruments of any such Grantor to verify with such Persons, to the Collateral Agent’s satisfaction, the existence, amount, terms of, and any
other matter relating to, Accounts, Instruments, Chattel Paper, payment intangibles and/or other Receivables. 

8.2.    Authorization for Collateral Agent to Take Certain Action. (a) Each Grantor
irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to execute on behalf of such Grantor as debtor and to
file financing statements necessary or desirable in the Collateral Agent’s sole discretion to perfect and to maintain the perfection and priority of the Collateral Agent’s security interest in the Collateral, (ii) to endorse and
collect any cash proceeds of the Collateral, (iii) to file a carbon, photographic or other reproduction of this Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing
statement or amendment of a financing statement in such offices as the Collateral Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Collateral Agent’s security interest in
the Collateral, (iv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to
give the Collateral Agent Control over such Pledged Collateral, (v) to apply the proceeds of any Collateral received by the Collateral Agent to the Obligations as provided in the Credit Agreement, (vi) to discharge past due taxes,
assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted by the Credit Agreement), (vii) to contact Account Debtors for any reason, (viii) to demand payment or enforce payment of the Receivables in the
name of the Collateral Agent or such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (ix) to sign such Grantor’s name on any invoice or bill of lading relating
to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (x) to exercise all of such Grantor’s rights and remedies with respect to the collection of the Receivables and any other
Collateral, (xi) to settle, adjust, compromise, extend or renew the Receivables, (xii) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xiii) to prepare, file and sign such Grantor’s name on
a proof of claim in bankruptcy or similar document against any Account Debtor of such Grantor, (xiv) to prepare, file and sign such Grantor’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection
with the Collateral, (xv) to change the address for delivery of mail addressed to such Grantor to such address as the Collateral Agent may designate and to receive, open and dispose of all mail addressed to such Grantor, and (xvi) to do
all other acts and things necessary to carry out this Agreement; and such Grantor agrees to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the Collateral Agent in connection with any of the foregoing;
provided that (a) this authorization shall not relieve such Grantor of any of its obligations under this Agreement or under the Credit Agreement and (b) the Collateral Agent shall exercise the foregoing rights in accordance with the
Intercreditor Agreements, if effective and only after the occurrence and during the continuation of an Event of Default. 

 (b)    All acts of said attorney or designee are hereby ratified and
approved. The powers conferred on the Collateral Agent, for the benefit of the Collateral Agent and Lenders, under this Section 7.2 are solely to protect the Collateral Agent’s interests in the Collateral and shall not be construed as
requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any action with respect
to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of
the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful
misconduct. 
 8.3.    Proxy. EACH GRANTOR HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS THE
COLLATERAL AGENT AS ITS PROXY AND ATTORNEY-IN-FACT (AS SET FORTH IN SECTION 7.2 ABOVE) WITH RESPECT TO ITS PLEDGED COLLATERAL, INCLUDING THE RIGHT TO VOTE ANY OF THE
PLEDGED COLLATERAL, WITH FULL POWER OF SUBSTITUTION TO DO SO AFTER THE OCCURRENCE AND DURING THE CONTINUATION OF AN EVENT OF DEFAULT. IN ADDITION TO THE RIGHT TO VOTE ANY OF THE PLEDGED COLLATERAL, THE APPOINTMENT OF THE COLLATERAL AGENT AS PROXY
AND ATTORNEY-IN-FACT SHALL INCLUDE THE RIGHT TO EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES AND REMEDIES TO WHICH A HOLDER OF ANY OF THE PLEDGED COLLATERAL WOULD BE
ENTITLED (INCLUDING GIVING OR WITHHOLDING WRITTEN CONSENTS OF SHAREHOLDERS, CALLING SPECIAL MEETINGS OF SHAREHOLDERS AND VOTING AT SUCH MEETINGS). SUCH PROXY SHALL BE EFFECTIVE, AUTOMATICALLY AND WITHOUT THE NECESSITY OF ANY ACTION (INCLUDING ANY
TRANSFER OF ANY OF THE PLEDGED COLLATERAL ON THE RECORD BOOKS OF THE ISSUER THEREOF) BY ANY PERSON (INCLUDING THE ISSUER OF THE PLEDGED COLLATERAL OR ANY OFFICER OR AGENT THEREOF), UPON THE OCCURRENCE AND DURING THE OCCURRENCE AND CONTINUANCE OF AN
EVENT OF DEFAULT. 
 8.4.    Nature of Appointment; Limitation of Duty. THE APPOINTMENT OF THE
COLLATERAL AGENT AS PROXY AND ATTORNEY-IN-FACT IN THIS ARTICLE VII IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL THE DATE ON WHICH THIS AGREEMENT IS
TERMINATED IN ACCORDANCE WITH SECTION 9.23. NOTWITHSTANDING ANYTHING CONTAINED HEREIN, NEITHER THE COLLATERAL AGENT, NOR ANY SECURED PARTY, NOR ANY OF THEIR RESPECTIVE AFFILIATES, NOR ANY OF THEIR OR THEIR AFFILIATES’ RESPECTIVE OFFICERS,
DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL HAVE ANY DUTY TO EXERCISE ANY RIGHT OR POWER GRANTED HEREUNDER OR OTHERWISE OR TO PRESERVE THE SAME AND SHALL NOT BE LIABLE FOR ANY FAILURE TO DO SO OR FOR ANY DELAY IN DOING SO, EXCEPT IN
RESPECT OF DAMAGES ATTRIBUTABLE SOLELY TO ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AS FINALLY DETERMINED BY A COURT OF COMPETENT JURISDICTION; PROVIDED THAT, IN NO EVENT SHALL THEY BE LIABLE FOR ANY PUNITIVE, EXEMPLARY, INDIRECT OR
CONSEQUENTIAL DAMAGES. 

 ARTICLE IX 

[Reserved]. 
 ARTICLE X

 GENERAL PROVISIONS 

10.1.    Waivers. Each Grantor hereby waives notice of the time and place of any public sale or the
time after which any private sale or other disposition of all or any part of the Collateral may be made. To the extent such notice may not be waived under applicable law, any notice made shall be deemed reasonable if sent to the Grantors, addressed
as set forth in Article X, at least ten days prior to (i) the date of any such public sale or (ii) the time after which any such private sale or other disposition may be made. To the maximum extent permitted by applicable law, each Grantor
waives all claims, damages, and demands against the Collateral Agent or any Secured Party arising out of the repossession, retention or sale of the Collateral, except such as arise solely out of the gross negligence or willful misconduct of the
Collateral Agent or such Secured Party as finally determined by a court of competent jurisdiction. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not
to assert against the Collateral Agent or any Secured Party, any valuation, stay, appraisal, extension, moratorium, redemption or similar laws and any and all rights or defenses it may have as a surety now or hereafter existing which, but for this
provision, might be applicable to the sale of any Collateral made under the judgment, order or decree of any court, or privately under the power of sale conferred by this Agreement, or otherwise. Except as otherwise specifically provided herein,
each Grantor hereby waives presentment, demand, protest or any notice (to the maximum extent permitted by applicable law) of any kind in connection with this Agreement or any Collateral. 

10.2.    Limitation on Collateral Agent’s and Secured Parties’ Duty with Respect to the
Collateral. The Collateral Agent shall have no obligation to clean-up or otherwise prepare the Collateral for sale. The Collateral Agent and each Secured Party shall use reasonable care with respect to the
Collateral in its possession or under its control. Neither the Collateral Agent nor any Secured Party shall have any other duty as to any Collateral in its possession or control or in the possession or control of any agent or nominee of the
Collateral Agent or such Secured Party, or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. To the extent that applicable law imposes duties on the Collateral Agent to exercise
remedies in a commercially reasonable manner, each Grantor acknowledges and agrees that it is commercially reasonable for the Collateral Agent (i) to fail to incur expenses deemed significant by the Collateral Agent to prepare Collateral for
disposition or otherwise to transform raw material or work in process into finished goods or other finished products for disposition, (ii) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if
not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (iii) to fail to exercise collection remedies against Account Debtors or other
Persons obligated on Collateral or to remove Liens on or any adverse claims against Collateral, (iv) to exercise collection remedies against Account Debtors and other Persons obligated on Collateral directly or through the use of collection
agencies and other collection specialists, (v) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (vi) to contact other Persons, whether
or not in the same business as such Grantor, for expressions of interest in acquiring all or any portion of the Collateral, (vii) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the
Collateral is of a specialized nature, (viii) to dispose of Collateral by utilizing internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capacity of doing so, or that match
buyers and sellers of assets, (ix) to dispose 

 
of assets in wholesale rather than retail markets, (x) to disclaim disposition warranties, such as title, possession or quiet enjoyment, (xi) to purchase insurance or credit
enhancements to insure the Collateral Agent against risks of loss, collection or disposition of Collateral or to provide to the Collateral Agent a guaranteed return from the collection or disposition of Collateral, or (xii) to the extent deemed
appropriate by the Collateral Agent, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist the Collateral Agent in the collection or disposition of any of the Collateral. Each Grantor acknowledges
that the purpose of this Section 9.2 is to provide non-exhaustive indications of what actions or omissions by the Collateral Agent would be commercially reasonable in the Collateral Agent’s exercise
of remedies against the Collateral and that other actions or omissions by the Collateral Agent shall not be deemed commercially unreasonable solely on account of not being indicated in this Section 9.2. Without limitation upon the foregoing,
nothing contained in this Section 9.2 shall be construed to grant any rights to any Grantor or to impose any duties on the Collateral Agent that would not have been granted or imposed by this Agreement or by applicable law in the absence of
this Section 9.2. 
 10.3.    Compromises and Collection of Collateral. The Grantors and the
Collateral Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the
expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Collateral Agent may at
any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Collateral Agent in its sole discretion shall determine
or abandon any Receivable, and any such action by the Collateral Agent shall be commercially reasonable so long as the Collateral Agent acts in good faith based on information known to it at the time it takes any such action. 

10.4.    Secured Party Performance of Debtor Obligations. Without having any obligation to do so,
the Collateral Agent may perform or pay any obligation which any Grantor has agreed to perform or pay in this Agreement and the Grantors shall reimburse the Collateral Agent for any amounts paid by the Collateral Agent pursuant to this
Section 9.4. The Grantors’ obligation to reimburse the Collateral Agent pursuant to the preceding sentence shall be an Obligation payable on demand. 

10.5.    Specific Performance of Certain Covenants. Each Grantor acknowledges and agrees that a
breach of any of the covenants contained in Sections 5.1(d), 5.1(e), 5.4, 5.5, 5.6, 5.7, 5.8, 5.10, 5.11, 5.13, 5.14, 5.16, 6.2, or 9.7 or in Article VIII will cause irreparable injury to the Collateral Agent and the Secured Parties, that the
Collateral Agent and the Secured Parties have no adequate remedy at law in respect of such breaches and therefore agrees, without limiting the right of the Collateral Agent or the Secured Parties to seek and obtain specific performance of other
obligations of the Grantors contained in this Agreement, that the covenants of the Grantors contained in the Sections referred to in this Section 9.5 shall be specifically enforceable against the Grantors. 

10.6.    Dispositions Not Authorized. No Grantor is authorized to sell or otherwise dispose of the
Collateral except as set forth in Section 5.1(d) and notwithstanding any course of dealing between any Grantor and the Collateral Agent or other conduct of the Collateral Agent, no authorization to sell, transfer or otherwise dispose of the
Collateral (except as set forth in Section 5.1(d)) shall be binding upon the Collateral Agent or the Secured Parties unless such authorization is in writing signed by the Collateral Agent with the consent or at the direction of the Required
Lenders. 

 10.7.    No Waiver; Amendments; Cumulative
Remedies. No delay or omission of the Collateral Agent or any Secured Party to exercise any right or remedy granted under this Agreement shall impair such right or remedy or be construed to be a waiver of any Default or an acquiescence therein,
and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy. No waiver, amendment or other variation of the terms, conditions or provisions of
this Agreement whatsoever shall be valid unless in writing signed by the Collateral Agent with the concurrence or at the direction of the Lenders required under Section 10.02 of the Credit Agreement and then only to the extent in such writing
specifically set forth. All rights and remedies contained in this Agreement or by law afforded shall be cumulative and all shall be available to the Collateral Agent and the Secured Parties until the Obligations have been paid in full. 

10.8.    Limitation by Law; Severability of Provisions. All rights, remedies and powers provided in
this Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law or the Intercreditor Agreements (if effective), and all the provisions of this Agreement are intended to be subject to all
applicable mandatory provisions of law and the Intercreditor Agreements (if effective) that may be controlling and to be limited to the extent necessary so that they shall not render this Agreement invalid, unenforceable or not entitled to be
recorded or registered, in whole or in part. Any provision in any this Agreement that is held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without
affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and to this end the provisions of this Agreement are declared to be severable. 

10.9.    Reinstatement. This Agreement shall remain in full force and effect and continue to be
effective should any petition be filed by or against any Grantor for liquidation or reorganization, should any Grantor become insolvent or make an assignment for the benefit of any creditor or creditors or should a receiver or trustee be appointed
for all or any significant part of any Grantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Obligations, or any part thereof, is, pursuant to applicable law,
rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment or performance had
not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

10.10.    Benefit of Agreement. The terms and provisions of this Agreement shall be binding upon
and inure to the benefit of the Grantors, the Collateral Agent and the Secured Parties and their respective successors and assigns (including all persons who become bound as a debtor to this Agreement), except that no Grantor shall have the right to
assign its rights or delegate its obligations under this Agreement or any interest herein, without the prior written consent of the Collateral Agent. No sales of participations, assignments, transfers, or other dispositions of any agreement
governing the Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to the Collateral Agent, for the benefit of the Collateral Agent and the Secured Parties, hereunder or under any of the other Security
Documents. 
 10.11.    Survival of Representations. All representations and warranties of the
Grantors contained in this Agreement shall survive the execution and delivery of this Agreement. 

10.12.    [Reserved]. 

 10.13.    Headings. All headings used herein are
for the purpose of reference only, are not part of this Agreement and are not to affect the construction of, or be taken into consideration in interpreting, this Agreement. 

10.14.    Security Interest Absolute. All rights of the Collateral Agent hereunder, the security
interest granted hereunder and all obligations of the Grantors hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any agreement with respect
to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver
of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or
any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge
of, any Grantor in respect of the Obligations or this Agreement. 
 10.15.    Entire Agreement.
This Agreement and the other Security Documents embody the entire agreement and understanding between the Grantors and the Collateral Agent relating to the Collateral and supersede all prior agreements and understandings between the Grantors and the
Collateral Agent relating to the Collateral. 
 10.16.    GOVERNING LAW; JURISDICTION; CONSENT TO
SERVICE OF PROCESS. 
 (a)    THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK. Each of the Grantors hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the courts of the State of New York, the courts of the United States
District Court of the Southern District of New York, and any appellate court from any thereof (and, to the extent necessary to enforce the Secured Parties’ rights under the Loan Documents, courts where Collateral may be located or deemed to be
located and any appellate court thereof), in any legal action or proceeding arising out of or relating to any Loan Document, or for recognition and enforcement of any judgment in respect thereof, 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; provided, that nothing contained herein or in any other
Loan Document will prevent any Lender, the Administrative Agent or the Collateral Agent from bringing any action to enforce any award or judgment or exercise any right under the Security Documents or against any Collateral or any other property of
any Grantor in any other forum in which jurisdiction can be established. 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 or any other Loan Document shall affect any right that the Collateral Agent, the Administrative Agent or the Lenders may otherwise have to bring any action or proceeding relating to
this Agreement or any other Loan Document against the Grantors or their respective properties in the courts of any jurisdiction. 

(c)    Each Grantor 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 any other Loan Document in any court referred to in paragraph
(b) of this Section. Each of the parties 

 
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d)    Each party to this Agreement irrevocably consents to service of process in the manner provided for
notices in Section 10.1. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

10.17.    WAIVER OF JURY TRIAL. EACH GRANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES
TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 

10.18.    Indemnity. Each Grantor jointly and severally agrees to pay upon demand to the Collateral
Agent the amount of any and all reasonable expenses, including the reasonable fees, disbursements and other charges of its counsel and of any experts or agents, which the Collateral Agent may incur in connection with (i) the administration of
this Agreement (including the customary fees and charges of the Collateral Agent for any monitoring or audits conducted by it or on its behalf with respect to the Accounts or Inventory), (ii) the custody or preservation of, or the sale of,
collection from or other realization upon any of the Collateral, (iii) the exercise, enforcement or protection of any of the rights of the Collateral Agent hereunder or (iv) the failure of any Grantor to perform or observe any of the
provisions hereof. 
 Without limitation of its indemnification obligations under the other Loan Documents, each Grantor jointly and
severally agrees to indemnify the Collateral Agent and the other Indemnitees against, and hold each of them harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable fees, disbursements and other
charges of counsel, incurred by or asserted against any of them arising out of, in any way connected with, or as a result of, the execution, delivery or performance of this Agreement or any claim, litigation, investigation or proceeding relating
hereto or to the Collateral, whether or not any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined
by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or any of its Affiliates. 

Any such amounts payable as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The
provisions of this Section 9.18 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of
the Loans, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any Lender. All amounts due under this Section 9.18 shall
be payable on written demand therefor. 
 10.19.    Counterparts. This Agreement may be executed
in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page
of this Agreement by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement. 

 10.20.    Severability. In the event any one or
more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired
thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

10.21.    Intercreditor Agreements. 

(a)    The terms of this Agreement, any Lien granted to the Collateral Agent (for the benefit of the
Secured Parties) pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreements (if effective). In the event of any inconsistency between the
provisions of this Agreement and the Intercreditor Agreements (if effective), the provisions of the Intercreditor Agreements shall supersede the provisions of this Agreement. 

(b)    Without limiting the generality of the foregoing, and notwithstanding anything herein to the
contrary, all rights and remedies of the Collateral Agent (and the Secured Parties) shall be subject to the terms of the ABL/Term Loan Intercreditor Agreement (if effective), and until the Discharge of ABL Obligations (as defined in the ABL/Term
Loan Intercreditor Agreement), (i) no Grantor shall be required hereunder or under any other Loan Document to take any action with respect to ABL Priority Collateral that is inconsistent with such Grantor’s obligations under the applicable ABL
Loan Documents and (ii) any obligation of any Grantor hereunder or under any other Loan Document with respect to the delivery or control of any ABL Priority Collateral, bill of lading or other document, the giving of any notice to any bailee or
other Person, the provision of voting rights or the obtaining of any consent of any Person shall be deemed to be satisfied if such Grantor complies with the requirements of the similar provision of the applicable ABL Loan Document. Until the
Discharge of ABL Obligations (as defined in the ABL/Term Loan Intercreditor Agreement), the Collateral Agent may not require any Grantor to take any action with respect to the creation, perfection or priority of its security interest in the ABL
Priority Collateral, whether pursuant to the express terms hereof or of any other Loan Document or pursuant to the further assurances provisions hereof or any other Loan Document, unless the ABL Collateral Agent (as defined in the ABL/Term Loan
Intercreditor Agreement) shall have required such Grantor to take similar action pursuant to the terms of the applicable Loan Documents, and delivery of any ABL Priority Collateral to the ABL Collateral Agent (as defined in the ABL/Term Loan
Intercreditor Agreement) pursuant to the applicable ABL Loan Documents and the ABL/Term Loan Intercreditor Agreement shall satisfy any delivery requirement hereunder or under any other Loan Document. 

10.22.    Additional Grantors. Each Subsidiary of a Borrower that is required to become a party to
this Agreement pursuant to Section 5.12 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement in the form of Annex 1 hereto. Each Grantor
expressly agrees that its obligations arising hereunder shall not be discharged, diminished or otherwise affected (a) by the addition or release of any other Grantor hereunder, (b) by any failure by the Borrower or any Grantor to cause any
Subsidiary of the Borrower to become a Grantor hereunder or (c) by reason of the Collateral Agent’s or any of the other Secured Party’s actions in effecting, or failure to effect, any such joinder, or in releasing any Grantor
hereunder, in each case, whether or not notice is given or consent is obtained from any Grantor. This Agreement shall be fully effective as to any Grantor that is or 

 
becomes a party hereto regardless of whether any other Person becomes or fails to become or ceases to be a Grantor hereunder. 

10.23.    Releases. (a) This Agreement and the security interest of the Secured Parties on the
Collateral provided hereunder shall terminate when all the Obligations (other than contingent obligations for indemnification, expense reimbursement, tax gross-up or yield protection as to which no claim has
been made) have been paid in full and the Lenders have no further commitment to lend, at which time the Collateral Agent shall execute and deliver to the Grantors or the Grantors’ designee, at the Grantors’ expense, all Uniform Commercial
Code termination statements and similar documents which the Grantors shall reasonably request from time to time to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 9.23(a)
shall be without recourse to or warranty by the Collateral Agent. 
 (b)    A Guarantor shall
automatically be released from its obligations hereunder and the security interest of the Secured Parties in the Collateral of such Guarantor shall be automatically released in the event that all the Equity Interests of such Guarantor shall be sold,
transferred or otherwise disposed of to a person that is not an Affiliate of the Borrower in accordance with the terms of the Credit Agreement; provided that the Required Lenders (or, if required by the terms of the Credit Agreement, such
greater percentage of the Lenders specified in the Credit Agreement) shall have consented to such sale, transfer or other disposition (to the extent required by the Credit Agreement) and the terms of such consent did not provide otherwise. The
security interest of the Secured Parties in any Collateral that is sold, transferred or otherwise disposed of in accordance with this Agreement, the Credit Agreement and the other Loan Documents (including pursuant to a waiver or amendment of the
terms thereof) shall automatically terminate and be released, and such Collateral shall be sold free and clear of the security interest created hereby. In connection with any of the foregoing, the Collateral Agent shall execute and deliver to the
Grantors or the Grantors’ designee, at the Grantors’ expense, all Uniform Commercial Code termination statements and similar documents (including any such documents as may be reasonably necessary in connection with the entry into by any
Grantor of a Specified Vendor Receivables Financing) that the Grantors shall reasonably request from time to time to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 9.23(b)
shall be without recourse to or warranty by the Collateral Agent. 
 10.24.    Right of Setoff.
If an Event of Default shall have occurred and be continuing, each Secured Party 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 Secured Party to or for the credit or the account of any Guarantor against any or all the obligations of such Guarantor now or hereafter existing under
this Agreement and the other Loan Documents held by such Secured Party, irrespective of whether or not such Secured Party shall have made any demand under this Agreement or any other Loan Document and although such obligations may be unmatured. The
rights of each Secured Party under this Section 9.24 are in addition to other rights and remedies (including other rights of setoff) which such Secured Party may have. 

ARTICLE XI 
 NOTICES

 11.1.    Sending Notices. Any notice required or permitted to be given under this
Agreement shall be sent in accordance with Section 10.01 of the Credit Agreement (with any notice to a Grantor (other than the Borrower) being sent care of the Borrower). 

 11.2.    Change in Address for Notices. Each of
the Grantors, the Collateral Agent and the Lenders may change the address for service of notice upon it by a notice in writing to the other parties. 

ARTICLE XII 
 THE
COLLATERAL AGENT 
 Cortland Capital Market Services LLC has been appointed Collateral Agent for the Lenders hereunder pursuant to
Article VIII of the Credit Agreement. It is expressly understood and agreed by the parties to this Agreement that any authority conferred upon the Collateral Agent hereunder is subject to the terms of the delegation of authority made by the Lenders
to the Collateral Agent pursuant to the Credit Agreement, and that the Collateral Agent has agreed to act (and any successor Collateral Agent shall act) as such hereunder only on the express conditions contained in such Section 1. Any successor
Collateral Agent appointed pursuant to Article VIII of the Credit Agreement shall be entitled to all the rights, interests and benefits of the Collateral Agent hereunder. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the Grantors and the Collateral Agent have executed this Agreement as of
the date first above written. 
  

	
	 GRANTORS:
  

HORIZON GLOBAL CORPORATION, as the Borrower

	
	By:
	Name:
	Title:
	
	HORIZON GLOBAL AMERICAS, INC., as a Guarantor
	
	By:
	Name:
	Title:
	
	HORIZON INTERNATIONAL HOLDINGS LLC, as a Guarantor
	
	By:
	Name:
	Title:
	
	HORIZON GLOBAL COMPANY LLC, as a Guarantor
	
	By:
	Name:
	Title:

 [Signature Page to Guarantee and Collateral Agreement] 

 
	
	CORTLAND CAPITAL MARKET SERVICES LLC, as Collateral Agent
	
	By:
	Name:
	Title:

  
  

 
  

[Signature Page to Guarantee and Collateral Agreement] 

 [EXHIBITS A-E TO BE PROVIDED BY BORROWER] 

  
 Exhibit E / Page 1 

 EXHIBIT F 

AMENDMENT 
 This
Amendment, dated            ,     is delivered pursuant to [Section 5.4] [Section 5.8] of the Agreement referred to below. All defined terms herein
shall have the meanings ascribed thereto or incorporated by reference in the Agreement. The undersigned hereby certifies that the representations and warranties in Article IV of the Agreement are and continue to be true and correct. The undersigned
further agrees that this Amendment may be attached to that certain Guarantee and Collateral Agreement, dated as of February 20, 2019, between the undersigned, as the Grantors, and Cortland Capital Market Services LLC, as the Collateral Agent
(as amended, restated, amended and restatement, supplemented or otherwise modified from time to time prior to the date hereof, the “Agreement”) and that the Collateral listed on Schedule I to this Amendment shall be and
become a part of the Collateral referred to in said Agreement and shall secure all Obligations referred to in the Agreement. 
  

			
	 
		
	 By:
	 	
	 Name:        
	 	 
	 Title:    
	 	 

 SCHEDULE I TO AMENDMENT 

STOCKS 
  

											
	 Name of

Grantor
	  	Issuer	  	
Certificate
 Number(s)
	  	 Number
of
 Shares
	  	Class of Stock	  	
Percentage of
 Outstanding
Shares

	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 

 BONDS 
  

											
	 Name of

Grantor
	  	Issuer	  	Number	  	Face Amount	  	Coupon Rate	  	Maturity
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 

 GOVERNMENT SECURITIES 
  

													
	 Name of

Grantor
	  	Issuer	  	Number	  	Type	  	Face Amount	  	Coupon Rate	  	Maturity
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 	  	 

 OTHER SECURITIES OR OTHER INVESTMENT PROPERTY 

(CERTIFICATED AND UNCERTIFICATED) 
  

							
	Name of Grantor	  	Issuer	  	Description of Collateral	  	
Percentage Ownership

Interest

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

 [Add description of custody accounts or arrangements with securities intermediary, if applicable] 

COMMERCIAL TORT CLAIMS 
  

							
	Name of Grantor	  	Description of Claim	  	Parties	  	
Case Number; Name of
 Court where
Case was
Filed

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 

 Annex 1 to 

Guarantee and Collateral Agreement 
  

 
 ASSUMPTION AGREEMENT, dated as of
                        , 20     , made by
                                     (the “Additional
Grantor”), in favor of CORTLAND CAPITAL MARKET SERVICES LLC, as Collateral Agent (in such capacity, the “Collateral Agent”) for the banks and other financial institutions or entities (the “Lenders”) parties
to the Credit Agreement referred to below. All capitalized terms not defined herein shall have the meaning ascribed to them in such Credit Agreement. 

W I T N E S S E T H : 

WHEREAS, HORIZON GLOBAL CORPORATION (the “Borrower”), the Lenders and the Collateral Agent have entered into a Credit
Agreement, dated as of February 20, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); 

WHEREAS, in connection with the Credit Agreement, the Borrower and certain of its Affiliates (other than the Additional Grantor) have entered
into the Guarantee and Collateral Agreement, dated as of February 20, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”) in favor of
the Collateral Agent for itself and for the benefit of the Secured Parties; 
 WHEREAS, the Credit Agreement requires the Additional Grantor
to become a party to the Guarantee and Collateral Agreement; and 
 WHEREAS, the Additional Grantor has agreed to execute and deliver this
Assumption Agreement in order to become a party to the Guarantee and Collateral Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1.        Guarantee and Collateral Agreement. By executing and delivering this Assumption
Agreement, the Additional Grantor, as provided in Section 9.22 of the Guarantee and Collateral Agreement, hereby becomes a party to the Guarantee and Collateral Agreement as a Guarantor and Grantor thereunder with the same force and effect as
if originally named therein as a Guarantor and Grantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Guarantor and Grantor thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Exhibits A through E to the Guarantee and Collateral Agreement and hereby grants to the Collateral Agent, for the benefit of the Secured Parties, as
collateral security for the prompt and complete payment or performance when due of the Obligations, a security interest in all of the Collateral (it being understood that, 

  

 
as provided in the Guarantee and Collateral Agreement, “Collateral” does not include any Excluded Property). The Additional Grantor hereby represents and warrants that each of the
representations and warranties contained in Article IV of the Guarantee and Collateral Agreement with respect to itself is true and correct in all material respects (other than in the case of representations qualified by materiality, in which case
such representations shall be true and correct) on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date.1 

2.        Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the undersigned has caused this Assumption
Agreement to be duly executed and delivered as of the date first above written. 
  
  

			
	[ADDITIONAL GRANTOR]
		
	 By:
	 	 Name:

		 	 Title:

  
  
  

 
  

1 To the extent applicable, such Additional Grantor shall also provide an Amendment in the form of
Exhibit F 

  

 Annex 1-A to 

Assumption Agreement 
  

Supplement to Exhibit A 

Supplement to Exhibit B 

Supplement to Exhibit C 

Supplement to Exhibit D 

Supplement to Exhibit E

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