Document:

Exhibit 10.1

 

Execution Version

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

THIS MEMBERSHIP INTEREST
PURCHASE AGREEMENT (this “Agreement”) dated as of the 1st day of June, 2018 by and among MMA ENERGY
CAPITAL, LLC, a Maryland limited liability company (“MEC”), RENEWABLE DEVELOPER HOLDINGS, LLC, a Delaware limited
liability company (“Seller”), RENEWABLE ENERGY LENDING, LLC, a Delaware limited liability company (the “Company”),
and solely for the purposes of Sections 1.4, 1.6, 3.4 and 4.2 through 4.13, HUNT INVESTMENT MANAGEMENT, LLC, a Delaware limited
liability company (“Hunt” and collectively with MEC and Seller, the “Parties”).

 

PREAMBLE:

 

WHEREAS, MEC desires
to purchase from Seller and Seller desires to convey to MEC all of Seller’s Interest (collectively, the “Seller
Interest”) on the terms and conditions set forth in this Agreement;

 

WHEREAS, in connection
with the formation of the Company, MEC, Seller and the Company entered into that certain Subscription Agreement dated as of November
7, 2016 (as the same may have been amended, restated or otherwise modified from time to time, the “Subscription Agreement”),
which the parties thereto now desire to terminate;

 

WHEREAS, in connection
with the formation of the Company, MMA Capital Management, LLC, a Delaware limited liability company (“MMAC”),
entered into a Guaranty dated as of November 7, 2016, as amended by that certain First Amendment thereto dated as January 8, 2018,
in favor of Seller and the Company, which the parties thereto now desire to terminate (as the same may have been amended, restated
or otherwise modified from time to time, the “Guaranty” and together with the Subscription Agreement, the “Ancillary
Agreements”);

 

WHEREAS, (i) the
Company and MEC entered into the Management Agreement on November 7, 2016 (as the same may have been amended, restated or otherwise
modified from time to time, the “Management Agreement”), (ii) MEC assigned to Hunt all of its rights and obligations
under the Management Agreement on January 8, 2018 and (iii) the parties to the Management Agreement now desire to enter into certain
agreement regarding the Management Agreement;

 

WHEREAS, capitalized
terms used herein and not otherwise defined shall have the definitions given to such terms in (A) the Amended and Restated Operating
Agreement of the Company dated November 6, 2017, as amended by that certain First Amendment thereto dated as January 8, 2018 (as
the same may have been amended, restated or otherwise modified from time to time, the “Operating Agreement”)
or (B) the letter agreement, dated as of the date hereof, being entered into by the Seller, MEC and the Company, as the context
may require; and

 

NOW THEREFORE, in
consideration of the foregoing and the mutual covenants, agreements and warranties herein contained, the Parties agree as follows:

 

     

     

    

 

ARTICLE I.

 

PURCHASE AND SALE 

 

1.1          Purchase
and Sale of Interest. Subject to the terms and conditions set forth in this Agreement, as of the date hereof, and against,
upon and in consideration of payment of the Purchase Price (as defined below), MEC hereby purchases, accepts, acquires, assumes
and takes delivery of, and Seller hereby sells, conveys, assigns and delivers to MEC, all of Seller’s right, title and interest
in and to the Seller Interest.

 

1.2          Closing.
The closing of the transactions contemplated hereby (the “Closing”) shall take place on the date hereof at such
time and location as may be mutually agreed upon by the Parties (the date of the Closing hereunder being the “Closing
Date”). The Closing, and all transactions to occur at the Closing, shall be deemed to have taken place at, and shall
be effective as of, 12:00 A.M. on the Closing Date. The Closing may be conducted electronically.

 

1.3          Purchase
Price. The purchase price for the Seller Interest shall be Five Million Ninety-Seven Thousand Five Hundred Seventy-One and
50/100 Dollars ($5,097,571.50) (the “Purchase Price”). The Purchase Price shall be paid by MEC to Seller on
the Closing Date in cash in U.S. Dollars by electronic bank transfer of immediately available funds directly to the account set
forth below:

 

	 	Receiving Bank Name:	State Street Bank and Trust Co. NA Boston
	 	Receiving Bank ABA:	011000028
	 	Beneficiary Account No.:	10816114
	 	Beneficiary Account Name:	Renewable Developer Hldgs

 

1.4          Management
Agreement. Effective upon the Closing, Seller and Hunt hereby acknowledge and agree that Hunt shall have no further obligation
to Seller and Seller shall have no further rights under the Management Agreement, except that: (i) Hunt shall continue to be bound
by and have the obligations as set forth in Section 4 of the Management Agreement (as in effect as of the Closing Date) and the
Seller shall continue to have the same rights under Section 4 of the Management Agreement as it had prior to the Closing Date;
provided, however, that any rights of Seller, and any obligations of Hunt to Seller, thereunder shall extend only to documents
and disclosures generated during or pertaining to the period ending on the Closing Date, and (ii) Hunt shall continue to be bound
by and have the obligations to Seller and each Seller related Indemnified Party (as defined in the Management Agreement as in effect
as of the Closing Date) as set forth in Section 5(c) of the Management Agreement (as in effect as of the Closing Date) and the
Seller and Seller related Indemnified Party shall continue to have the same rights set forth Section 5(c) of the Management Agreement
(as in effect as of the Closing Date), as each such Person had prior to the Closing Date (as defined in the Management Agreement
as in effect as of the Closing Date), solely with respect to any Third Party Claim (as defined in the Management Agreement as in
effect as of the Closing Date) to the extent related or pertaining to the period prior to and ending on the Closing Date (the surviving
provisions set forth in this clause (ii) of this Section 1.4, the “Surviving Management Agreement Indemnity Provisions”).
MEC, the Company and Hunt acknowledge and agree that solely as between themselves, the terms and provisions of the Management Agreement
shall continue in full force and effect.

 

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1.5          Ancillary
Agreements. Effective upon the Closing, the Ancillary Agreements are hereby terminated in their entirety and of no further
force or effect, all without the necessity of any further documentation, except that the following provision shall survive: Sections
8.1(a) of the Subscription Agreement (as in effect as of the Closing Date), solely with respect to any Third Party Claim (as defined
in the Subscription Agreement) (the surviving provisions set forth in this Section 1.5, the “Surviving Subscription Agreement
Indemnity Provisions” and together with the Surviving Management Agreement Indemnity Provisions, the “Surviving
Other Agreement Indemnity Provisions”).

 

1.6          Seller’s
Status after Closing. MEC and Seller (the “Members”) hereby consent and agree that effective upon the Closing,
without the need for any further action or execution of any other agreements or instruments and notwithstanding any provision of
the Operating Agreement, Seller shall cease to be a member of the Company and Seller shall cease to be a party to or have any right,
title or interest in, to be bound by any of the restrictions or obligations contained in, or to have any rights, benefits or obligations
under, the Operating Agreement or the Ancillary Agreements, except that (i) the Parties shall continue to be bound by and have
the rights and obligations as set forth under Section 11.7 of the Operating Agreement (as in effect as of the Closing Date); provided,
however, that any rights of Seller, and any obligations of any Member to Seller, thereunder shall extend only to documents and
disclosures generated during or pertaining to the period ending on the Closing Date, (ii) the Parties shall continue to be bound
by and have the rights and obligations as set forth under Section 8.2(B) of the Operating Agreement (as in effect as of the Closing
Date) with respect to the tax period ending on the Closing Date, and (iii) the Company shall continue to be bound by and have the
obligations to Seller and each Seller related Covered Person as set forth in Section 7.3 of the Operating Agreement (as in effect
as of the Closing Date) and the Seller and each Seller related Covered Person shall continue to have the same rights set forth
in Section 7.3 of the Operating Agreement (as in effect as of the Closing Date), other than paragraph (F) thereof, as if the Seller
was still a member of the Company (the surviving provisions set forth in this clause (iii) of Section 1.6, the “Surviving
Operating Agreement Indemnity Provisions”, and together with the Surviving Other Agreement Indemnity Provisions, the
“Surviving Indemnity Provisions”) .

 

ARTICLE II

 

REPRESENTATIONS AND WARRANTIES 

 

2.1          Representations
and Warranties of Seller. Seller represents and warrants as of the date hereof to MEC as follows:

 

(a)          Membership
Interests. Immediately prior to the execution and delivery of this Agreement, Seller owns of record and beneficially 100% of
the Seller Interest, free and clear of any liens, security interests, encumbrances, restrictions, rights of first refusal, pledges
and claims of every kind (each, a “Lien”) (except for the obligations imposed on members under the Operating
Agreement, any Ancillary Agreement or any applicable securities laws). Except for the Operating Agreement, Seller is not a party
to member agreements, pledge agreements or other agreements relating to or restricting the transferability of any part of the Seller
Interest.

 

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(b)          Authority.
Seller is duly organized, validly existing and in good standing under the laws of the State of Delaware. Seller has the full right,
power and authority to enter into this Agreement, to execute and deliver this Agreement and all documents and agreements necessary
to give effect to the provisions of this Agreement, and to perform its obligations under this Agreement. Seller’s execution
and delivery of this Agreement and Seller’s consummation of the transactions contemplated in this Agreement have been duly
authorized by all required corporate action. This Agreement has been duly executed and delivered by Seller and constitutes the
legal, valid and binding obligation of Seller enforceable against Seller in accordance with its terms.

 

(c)          No
Breach or Default; Consents. The execution, delivery and performance of this Agreement and all other instruments, agreements,
certificates and documents contemplated hereby by Seller do not (i) violate any decree or judgment of any court of the government
of the United States or any state or political subdivision thereof or any entity exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government (each, a “Governmental Authority”) which may be applicable
to the Seller Interest or Seller; (ii) violate any law (or regulation promulgated under any law) which may be applicable to the
Seller Interest or Seller; (iii) result in, or require, the creation or imposition of any Lien on any portion of the Seller Interest;
(iv) violate any provision or result in the acceleration of any obligation or the creation of any Lien under any contract, lease,
commitment, indenture, mortgage, note, bond, instrument, license or agreement to which Seller is a party or by which it or any
of its properties is bound or (v) require notice to or consent, permit, authorization or approval of, filing or registration with,
any Governmental Authority or any Person not a Party to this Agreement (individually and collectively, a “Consent”),
except for those Consents that have already been obtained, and except, in the case of clauses (i)-(v), which would not reasonably
be expected to adversely affect the Seller’s ability to consummate the transactions contemplated by this Agreement.

 

(d)          Litigation.
There are no claims, suits, proceedings or governmental investigations, either administrative or judicial, pending or, to Seller’s
knowledge, threatened against Seller, any Seller Related Entity, or, to Seller’s knowledge, any Affiliate of Seller affecting
the Seller Interest or the ability of Seller to consummate the transactions contemplated herein or otherwise relating to the transactions
contemplated by this Agreement.

 

2.2         Representations
and Warranties of MEC. MEC represents and warrants as of the date hereof to Seller as follows:

 

(a)          Authority.
MEC is duly organized, validly existing and in good standing under the laws of the State of Maryland. MEC has the full right, power
and authority to enter into this Agreement, to execute and deliver this Agreement and all documents and agreements necessary to
give effect to the provisions of this Agreement, and to perform its obligations under this Agreement. MEC’s execution and
delivery of this Agreement and its consummation of the transactions contemplated in this Agreement have been duly authorized by
all required limited liability company action. This Agreement has been duly executed and delivered by MEC and constitutes the legal,
valid and binding obligation of MEC enforceable against MEC in accordance with its terms.

 

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(b)          No
Breach or Default; Consents. The execution, delivery and performance of this Agreement and all other instruments, agreements,
certificates and documents contemplated hereby by MEC do not (i) violate any decree or judgment of any Governmental Authority which
may be applicable to MEC; (ii) violate any law (or regulation promulgated under any law); (iii) violate any provision or result
in the acceleration of any obligation or the creation of any Lien under any contract, lease, commitment, indenture, mortgage, note,
bond, instrument, license or agreement to which MEC is a party or by which it or any of its properties are bound; or (iv) require
any Consents, except for those Consents that have already been obtained, and except, in the case of clauses (i)-(iv), which would
not reasonably be expected to adversely affect the MEC’s ability to consummate the transactions contemplated by this Agreement.

 

(c)          Litigation.
There are no claims, suits, proceedings or governmental investigations, either administrative or judicial, pending or, to MEC’s
knowledge, threatened against MEC or any of its Affiliates to the extent such litigation or investigation affects the ability of
MEC to consummate the transactions contemplated herein or otherwise relating to the transactions contemplated by this Agreement.

 

ARTICLE III

 

CLOSING DELIVERIES AND AGREEMENTS OF THE
PARTIES

 

3.1          Seller’s
Closing Deliveries. The execution and delivery of this Agreement and the confirmed receipt by Seller of the Distribution from
the Company and the Purchase Price from MEC, each in accordance with Sections 3.2 and 1.3, respectively, shall be sufficient without
the necessity of any other documentation for MEC to purchase, accept, acquire, assume and take delivery of, and Seller to sell,
convey, assign and deliver to MEC all of Seller’s right, title and interest in and to the Seller Interest.

 

3.2          Deliveries
to Seller at Closing. At the Closing, (a) first, the Company shall make a one-time distribution to Seller in the amount of
Fifty-Eight Million Five Hundred Ninety-Three Thousand Four Hundred Twenty-Eight and 50/100 Dollars ($58,593,428.50) being Seller’s
Adjusted Capital Contribution as of the Closing (the “Distribution”), and (b) second, MEC shall deliver to Seller
the Purchase Price payable pursuant to Section 1.3 above. Both payments shall be in the form and manner, and to the account, described
in Section 1.3.

 

3.3          Taxes.
For tax reporting purposes, MEC, Seller and the Company shall give effect to the transfer of the Seller Interest as of the Closing
Date based on an interim closing of the books as of the close of business on the day immediately prior to the Closing Date. Any
state sales, use, transfer or similar taxes or assessments arising or payable by reason of the transactions contemplated by this
Agreement shall be shared equally by MEC and Seller.

 

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3.4          Confidentiality,
Non-Disclosure and Limited Use.    The Parties acknowledge that MMAC
is required to disclose the material terms and file a copy of this Agreement in a Current Report on Form 8-K, which shall be substantially
in the form attached hereto as Exhibit A. Other than as disclosed in such filing, the Parties agree that the terms of this Agreement
shall be deemed to be confidential information that is subject to the terms of Section 11.7 of the Operating Agreement and each
Party shall keep such terms confidential, in accordance with and subject to the terms of, Section 11.7 of the Operating Agreement.

 

3.5          Further
Assurances. The Parties each covenant and agree to sign, execute and deliver, or to cause to be signed, executed and delivered,
and to do or make, or cause to be done or made, upon the written request of any other Party, any and all agreements, instruments,
papers, deeds, acts or things, supplemental, confirmatory or otherwise, as may be reasonably required by any Party for the purpose
of or in connection with consummating the transactions described in this Agreement.

 

ARTICLE IV

 

MISCELLANEOUS

 

4.1          Survival
of Warranties, Representations and Covenants. The warranties and representations of Seller and MEC contained in or made pursuant
to this Agreement shall survive until the expiration of the relevant statute of limitations. Except as otherwise set forth in this
Agreement, the covenants contained in or made pursuant this Agreement shall survive the Closing for a period of one (1) year.

 

4.2          Mutual
Release.

 

(a)          Except
with respect to any claims arising under this Agreement, each of MEC and Hunt, on behalf of itself, the Company, MMAC, their Affiliates,
and each of their respective past, present and future parents, divisions, Affiliates, subsidiaries, holding companies, and all
of its and their respective past, present and future employees, officers, directors, shareholders, members, equity holders, advisors,
partners, insurers, agents, endorsers, sureties, guarantors, attorneys, representatives and consultants, and the successors and
assigns of each (collectively, the “MEC Parties”), hereby irrevocably, unconditionally and completely releases,
waives, relinquishes, dismisses and discharges Seller and each Seller Related Entity and their respective past, present and future
parents, divisions, subsidiaries, holding companies, and all of its and their respective past, present and future employees, officers,
directors, shareholders, members, equity holders, advisors, partners, insurers, agents, endorsers, sureties, guarantors, attorneys,
representatives and consultants, and the successors and assigns of each (collectively, “Seller Parties”), from
any and all claims, causes of action, liabilities, charges, costs, expenses (including reasonable attorneys’ fees), losses,
damages or demands of any kind or character, whether known or unknown, at law or in equity and regardless of legal theory (collectively,
“Claims”), which any MEC Party, now has, has ever had, or may hereafter have against any Seller Party or any
persons acting by, through, under or in concert with any Seller Party or that might be claimed to be jointly or severally liable
with any Seller Party, solely to the extent arising out of or otherwise relating to the Company, including without limitation,
Claims relating to or arising out of (i) Seller’s ownership of the Seller’s Interest in the Company, (ii) Seller’s
status as a member of the Company, (iii) the Ancillary Agreements, or (iv) the Management Agreement.

 

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(b)          Except
with respect to any claims arising under this Agreement or any claims arising under any Surviving Indemnity Provision, Seller hereby,
on behalf of itself and the Seller Parties irrevocably, unconditionally and completely releases, waives, relinquishes, dismisses
and discharges the MEC Parties, from any and all Claims, which Seller or any Seller Party, now has, has ever had, or may hereafter
have against any MEC Party or any persons acting by, through, under or in concert with any MEC Party or that might be claimed to
be jointly or severally liable with any MEC Party, solely to the extent arising out of or otherwise relating to the Company, including
without limitation, Claims relating to or arising out of (i) Seller’s ownership of the Seller’s Interest in the Company,
(ii) Seller’s status as a member of the Company, (iii) the Ancillary Agreements, or (iv) the Management Agreement.

 

(c)          For
the avoidance of doubt, the releases in this Section 4.2 shall not apply to claims arising out of any future transactions documented
by definitive and executed agreements that may occur between or among the MEC Parties on the hand and the Seller Parties on the
other.

 

4.3          Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and assigns of the Parties; provided, however, that no Party may assign this Agreement, or its rights or obligations hereunder,
without the prior written consent of the other Parties. Nothing in this Agreement is intended to confer upon any Party other than
the Parties or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of
this Agreement, except that the Persons related under Section 4.2 are intended beneficiaries of, and may enforce, the provisions
of such Section. Notwithstanding any assignment hereunder, each Party shall remain liable for its obligations hereunder.

 

4.4          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to the conflict of law provisions thereof. Each Party hereby irrevocably submits to the non-exclusive jurisdiction of the
state and federal courts sitting in New York, New York for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each
Party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such Party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law.

 

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4.5          Time
of Essence. With regard to all dates and time periods set forth or referred to in this Agreement, time is of the essence.

 

4.6          Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. The delivery of facsimile, photostatic and electronic (.pdf) copies of signatures
to this Agreement shall be deemed to be the delivery of originals and may be relied upon to the same extent.

 

4.7          Expenses.
Each Party shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance
of this Agreement.

 

4.8          Amendments
and Waivers. Any term of this Agreement may be amended, and the observance of any term of this Agreement may be waived (either
generally or in a particular instance and either retroactively or prospectively), only with the written consent of each of the
Parties. No course of action or dealing, renewal, release or extension of any provision of this Agreement or related agreement,
or single or partial exercise of any such provision, or delay, failure or omission on the part of any Party in enforcing any such
provision shall affect the obligations of the other Parties or operate as a waiver of such provision or preclude any other or further
exercise of such provision. No waiver by any Party of any one or more defaults by any other Party in the performance of any of
the provisions of this Agreement or any related agreement shall operate or be construed as a waiver of any future default, whether
of a like or different nature, and each such waiver shall be limited solely to the express terms and provisions of such waiver.

 

4.9          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.

 

4.10        Entire
Agreement. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and
supersedes any prior agreement or understanding, written or oral, relating to the subject matter of this Agreement, and no Party
shall be liable or bound to any other Party in any manner by any warranties, representations or covenants except as specifically
set forth herein.

 

4.11        Rules
of Construction. The following rules shall apply to the construction and interpretation of this Agreement:

 

(a)          Singular
words shall connote the plural number as well as the singular and vice versa, and the masculine shall include the feminine and
the neuter.

 

(b)          All
references in this Agreement to particular articles, sections, subsections, clauses or exhibits are references to articles, sections,
subsections, clauses or exhibits of this Agreement.

 

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(c)          The
headings, titles and subtitles contained in this Agreement are solely for convenience of reference and shall not constitute a part
of this Agreement nor shall they affect its meaning, construction or effect.

 

(d)          Any
reference to a Party shall include a reference to such Party’s successors and permitted assigns.

 

(e)          Each
Party and its counsel have reviewed and revised (or requested revisions of) this Agreement and have participated in the preparation
of this Agreement, and therefore any usual rules of construction requiring that ambiguities are to be resolved against a particular
Party shall not be applicable in the construction and interpretation of this Agreement or any exhibits to this Agreement.

 

(f)          The
word “will” means “shall,” and the word “shall” means “will.”

 

4.12        Business
Relationship. This Agreement shall not create any agency, employment, joint venture or partnership between the Parties. No
Party shall have the authority, nor shall any Party attempt, to create any obligation on behalf of any other Party.

 

4.13        Notices.
Any notices required or permitted under this Agreement shall be given in accordance with the Notice Provisions of the Operating
Agreement.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed and delivered on the date first above written.

 

	WITNESS	MMA ENERGY CAPITAL, LLC
	 	 	                  
	 	By:	/s/ Gary A Mentesana
	 	Name:	Gary A Mentesana
	 	Title:	Executive Vice President

 

[Signature Page to Membership Interest Purchase
Agreement (Renewable Energy Lending, LLC)]

 

     

     

    

 

	 	RENEWABLE ENERGY LENDING, LLC
	 	 	 
	 	By:	Renewable Developer Holdings, LLC
	 	 	 	                  
	 	 	By:	/s/ Joshua Peck
	 	 	Name:	Joshua Peck
	 	 	Title:	Vice President
	 	 	 
	 	By:	MMA Energy Capital, LLC
	 	 	 	 
	 	 	By:	/s/ Gary A Mentesana
	 	 	Name:	Gary A Mentesana
	 	 	Title:	Executive Vice President

 

[Signature Page to Membership Interest Purchase
Agreement (Renewable Energy Lending, LLC)]

 

     

     

    

 

	 	RENEWABLE DEVELOPER HOLDINGS, LLC
	 	 	                  
	 	By:	/s/ Joshua Peck
	 	Name:	Joshua Peck
	 	Title:	Vice President

 

[Signature Page to Membership Interest Purchase
Agreement (Renewable Energy Lending, LLC)]

 

     

     

    

 

Acknowledged and agreed, solely for the
purposes of Sections 1.4, 1.6, 3.4 and 4.2 through 4.13:

 

	 	HUNT INVESTMENT MANAGEMENT, LLC
	 	 	                  
	 	By:	/s/ Kara Harchuck
	 	Name:	Kara E Harchuck
	 	Title:	Executive Vice President / General Counsel

 

[Signature Page to Membership Interest Purchase
Agreement (Renewable Energy Lending, LLC)]

 

     

     

    

 

Exhibit A

 

Draft 8-KEX-10.1

Table of Contents

 Exhibit 10.1 

Execution Version 

WOODWARD, INC. 

$85,000,000 Series P Senior Notes due May 30, 2025 

$85,000,000 Series Q Senior Notes due May 30, 2027 

$75,000,000 Series R Senior Notes due May 30, 2029 

$75,000,000 Series S Senior Notes due May 30, 2030 

$80,000,000 Series T Senior Notes due May 30, 2033 
  

 
 NOTE PURCHASE
AGREEMENT 
  
  

Dated May 31, 2018 

Table of Contents

 TABLE OF CONTENTS 

 

							
	 	 	 	  	 	  	Page
	1.	 	AUTHORIZATION OF NOTES	  	1
	2.	 	SALE AND PURCHASE OF NOTES; GUARANTEES	  	2
	3.	 	CLOSING	  	2
		 	3.1	  	Closing	  	2
		 	3.2	  	Failure of the Company to Deliver	  	3
	4.	 	CONDITIONS TO CLOSING	  	3
		 	4.1	  	Representations and Warranties	  	3
		 	4.2	  	Performance; No Default	  	3
		 	4.3	  	Compliance Certificates	  	3
		 	4.4	  	Guaranty Agreement	  	4
		 	4.5	  	Opinions of Counsel	  	4
		 	4.6	  	Purchase Permitted by Applicable Law, etc	  	4
		 	4.7	  	Sale of Other Notes	  	4
		 	4.8	  	Payment of Special Counsel Fees	  	5
		 	4.9	  	Private Placement Numbers	  	5
		 	4.10	  	Changes in Corporate Structure	  	5
		 	4.11	  	Funding Instructions	  	5
		 	4.12	  	Second Amended and Restated Intercreditor Agreement	  	5
		 	4.13	  	Proceedings and Documents	  	5
	5.	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	5
		 	5.1	  	Organization; Power and Authority	  	5
		 	5.2	  	Authorization, etc	  	6
		 	5.3	  	Disclosure	  	6
		 	5.4	  	Organization and Ownership of Shares of Subsidiaries; Affiliates	  	7
		 	5.5	  	Financial Statements; Material Liabilities	  	7
		 	5.6	  	Compliance with Laws, Other Instruments, etc	  	8
		 	5.7	  	Governmental Authorizations, etc	  	8
		 	5.8	  	Litigation; Observance of Agreements, Statutes and Orders	  	8
		 	5.9	  	Taxes	  	9
		 	5.10	  	Title to Property; Leases	  	9

  
 -i- 

Table of Contents

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	 	  	Page
		 	5.11	  	Licenses, Permits, etc	  	9
		 	5.12	  	Compliance with ERISA	  	10
		 	5.13	  	Private Offering by the Company	  	11
		 	5.14	  	Use of Proceeds; Margin Regulations	  	11
		 	5.15	  	Existing Indebtedness; Future Liens	  	12
		 	5.16	  	Foreign Assets Control Regulations, etc	  	12
		 	5.17	  	Status under Certain Statutes	  	14
		 	5.18	  	Environmental Matters	  	14
	6.	 	REPRESENTATIONS OF THE PURCHASERS	  	15
		 	6.1	  	Purchase for Investment	  	15
		 	6.2	  	Accredited Investor	  	15
		 	6.3	  	Source of Funds	  	15
	7.	 	INFORMATION AS TO COMPANY	  	17
		 	7.1	  	Financial and Business Information	  	17
		 	7.2	  	Officer’s Certificate	  	20
		 	7.3	  	Visitation	  	20
	8.	 	PAYMENT AND PREPAYMENT OF THE NOTES	  	21
		 	8.1	  	Maturity	  	21
		 	8.2	  	Optional Prepayments with Make-Whole Amount	  	21
		 	8.3	  	Prepayment Upon Change of Control	  	22
		 	8.4	  	Prepayment in Connection with an Asset Disposition	  	23
		 	8.5	  	Allocation of Partial Prepayments of Notes	  	23
		 	8.6	  	Maturity; Surrender, etc	  	24
		 	8.7	  	Purchase of Notes	  	24
		 	8.8	  	Make-Whole Amount	  	24
	9.	 	AFFIRMATIVE COVENANTS	  	26
		 	9.1	  	Compliance with Law	  	26
		 	9.2	  	Insurance	  	26
		 	9.3	  	Maintenance of Properties	  	27
		 	9.4	  	Payment of Taxes and Claims	  	27

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	 	  	Page
		 	9.5	  	Corporate Existence, etc	  	27
		 	9.6	  	Books and Records	  	27
		 	9.7	  	Ranking of Obligations	  	27
		 	9.8	  	Guaranty by Subsidiaries; Liens	  	28
		 	9.9	  	Intercreditor Agreement	  	30
	10.	 	NEGATIVE COVENANTS	  	31
		 	10.1	  	Transactions with Affiliates	  	31
		 	10.2	  	Merger, Consolidation, etc	  	31
		 	10.3	  	Sale of Assets	  	32
		 	10.4	  	Line of Business	  	33
		 	10.5	  	Terrorism Sanctions Regulations	  	33
		 	10.6	  	Liens	  	33
		 	10.7	  	Minimum Consolidated Net Worth	  	34
		 	10.8	  	Maximum Leverage Ratio	  	34
		 	10.9	  	Priority Debt	  	34
		 	10.10	  	Subsidiary Debt	  	34
		 	10.11	  	Permitted Receivables Securitization Program	  	35
	11.	 	EVENTS OF DEFAULT	  	36
	12.	 	REMEDIES ON DEFAULT, ETC	  	38
		 	12.1	  	Acceleration	  	38
		 	12.2	  	Other Remedies	  	39
		 	12.3	  	Rescission	  	39
		 	12.4	  	No Waivers or Election of Remedies, Expenses, etc	  	40
	13.	 	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	40
		 	13.1	  	Registration of Notes	  	40
		 	13.2	  	Transfer and Exchange of Notes	  	40
		 	13.3	  	Replacement of Notes	  	41
	14.	 	PAYMENTS ON NOTES	  	41
		 	14.1	  	Place of Payment	  	41
		 	14.2	  	Home Office Payment	  	42

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	 	  	Page
		 	14.3	  	FATCA Information	  	42
	15.	 	EXPENSES, ETC	  	42
		 	15.1	  	Transaction Expenses	  	42
		 	15.2	  	Certain Taxes	  	43
		 	15.3	  	Survival	  	43
	16.	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	44
	17.	 	AMENDMENT AND WAIVER	  	44
		 	17.1	  	Requirements	  	44
		 	17.2	  	Solicitation of Holders of Notes	  	45
		 	17.3	  	Binding Effect, etc	  	45
		 	17.4	  	Notes Held by Company, etc	  	46
	18.	 	NOTICES	  	46
	19.	 	REPRODUCTION OF DOCUMENTS	  	46
	20.	 	CONFIDENTIAL INFORMATION	  	47
	21.	 	SUBSTITUTION OF PURCHASER	  	48
	22.	 	MISCELLANEOUS	  	48
		 	22.1	  	Successors and Assigns	  	48
		 	22.2	  	Payments Due on Non-Business Days	  	48
		 	22.3	  	Accounting Terms	  	49
		 	22.4	  	Severability	  	49
		 	22.5	  	Construction, etc	  	50
		 	22.6	  	Counterparts	  	50
		 	22.7	  	Governing Law	  	50
		 	22.8	  	Jurisdiction and Process; Waiver of Jury Trial	  	50

  
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	Schedule A	  	—	  	Information Relating to Purchasers
	Schedule B	  	—	  	Defined Terms
	Schedule 5.3	  	—	  	Disclosure Materials
	Schedule 5.4	  	—	  	Subsidiaries of the Company and Ownership of Subsidiary Stock
	Schedule 5.5	  	—	  	Financial Statements
	Schedule 5.15	  	—	  	Existing Indebtedness
	Schedule 10.6	  	—	  	Existing Liens
	Exhibit 1(a)	  	—	  	Form of Series P Senior Note due May 30, 2025
	Exhibit 1(b)	  	—	  	Form of Series Q Senior Note due May 30, 2027
	Exhibit 1(c)	  	—	  	Form of Series R Senior Note due May 30, 2029
	Exhibit 1(d)	  	—	  	Form of Series S Senior Note due May 30, 2030
	Exhibit 1(e)	  	—	  	Form of Series T Senior Note due May 30, 2033
	Exhibit 2	  	—	  	Form of Guaranty Agreement
	Exhibit 4.5(a)	  	—	  	Form of Opinion of Special Counsel for the Company and the Closing Guarantors
	Exhibit 4.5(b)	  	—	  	Form of Opinion of Special Counsel for the Purchasers

  
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 Woodward, Inc. 

1081 Woodward Way 
 Fort
Collins, Colorado 80524 
 $85,000,000 Series P Senior Notes due May 30, 2025 

$85,000,000 Series Q Senior Notes due May 30, 2027 

$75,000,000 Series R Senior Notes due May 30, 2029 

$75,000,000 Series S Senior Notes due May 30, 2030 

$80,000,000 Series T Senior Notes due May 30, 2033 

May 31, 2018 
 To Each of the Purchasers
Listed in 
 Schedule A Hereto: 
 Ladies and Gentlemen: 

Woodward, Inc., a Delaware corporation (together with any successor thereto that becomes a party hereto pursuant to Section 10.2,
the “Company”), agrees with each of the purchasers whose names appear at the end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows: 

 

	1.	AUTHORIZATION OF NOTES. 

 The Company will
authorize the issue and sale of: 
 (a) $85,000,000 aggregate principal amount of its Series P Senior Notes due May 30,
2025 (as amended, restated or otherwise modified from time to time pursuant to Section 17, the “Series P Notes”; such term to include any such notes issued in substitution therefor pursuant to Section 13), 

(b) $85,000,000 aggregate principal amount of its Series Q Senior Notes due May 30, 2027 (as amended, restated or
otherwise modified from time to time pursuant to Section 17, the “Series Q Notes”; such term to include any such notes issued in substitution therefor pursuant to Section 13), 

(c) $75,000,000 aggregate principal amount of its Series R Senior Notes due May 30, 2029 (as amended, restated or
otherwise modified from time to time pursuant to Section 17, the “Series R Notes”; such term to include any such notes issued in substitution therefor pursuant to Section 13), 

(d) $75,000,000 aggregate principal amount of its Series S Senior Notes due May 30, 2030 (as amended, restated or
otherwise modified from time to time pursuant to Section 17, the “Series S Notes”; such term to include any such notes issued in substitution therefor pursuant to Section 13), and 

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 (e) $80,000,000 aggregate principal amount of its Series T Senior Notes due
May 30, 2033 (as amended, restated or otherwise modified from time to time pursuant to Section 17, the “Series T Notes”; such term to include any such notes issued in substitution therefor pursuant to Section 13).

 The Series P Notes, the Series Q Notes, the Series R Notes, the Series S Notes and the Series T Notes shall be referred to collectively herein as the
“Notes”. The Series P Notes, the Series Q Notes, the Series R Notes, the Series S Notes and the Series T Notes shall be substantially in the forms set out in Exhibit 1(a), Exhibit 1(b), Exhibit 1(c),
Exhibit 1(d) and Exhibit 1(e), respectively. Certain capitalized and other terms used in this Agreement are defined in Schedule B and, for purposes of this Agreement, the rules of construction set forth in Section 22.5
shall govern. 
  

	2.	SALE AND PURCHASE OF NOTES; GUARANTEES. 

 Subject
to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount and of the Series
specified under such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any
liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder. 
 The obligations
of the Company hereunder and under the Notes will be unconditionally guaranteed by Woodward FST, MPC Products and Woodward HRT (each a “Closing Guarantor” and, collectively, the “Closing Guarantors”), and each other
Subsidiary required to guaranty the Notes pursuant to Section 9.8 (together with the Closing Guarantors, each a “Guarantor” and, collectively, the “Guarantors”), pursuant to that certain Guaranty Agreement
dated as of the date of Closing (as from time to time amended, restated, supplemented or otherwise modified, the “Guaranty Agreement”) substantially in the form set forth in Exhibit 2. 

 

	3.	CLOSING. 

 3.1
Closing. 
 The sale and purchase of the Notes to be purchased by each Purchaser shall occur at
the offices of Morgan, Lewis & Bockius LLP, at 101 Park Avenue, New York, New York 10178, at 10:00 a.m., New York time, at a closing (the “Closing”) on May 31, 2018. At the Closing, the Company will deliver to each
Purchaser the Notes to be purchased by such Purchaser in the form of a single Note for each Series to be purchased by such Purchaser (or such greater number of Notes for each such Series in denominations of at least $100,000 as such Purchaser may
request) dated the date of Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price
therefor by wire transfer of immediately available funds for the account of the Company to Wells Fargo Bank, National Association, San Francisco, CA; Account Name: Woodward, Inc.; Account Number: 2079900122855; Bank Routing Number 121-000-248.

  
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 3.2 Failure of the Company to Deliver. 

If at the Closing the Company shall fail to tender any Note to any Purchaser on the date of Closing as provided above in this Section 3,
or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement, without thereby waiving any
rights such Purchaser may have by reason of such failure or such nonfulfillment. 
  

	4.	CONDITIONS TO CLOSING. 

 Each Purchaser’s
obligation to purchase and pay for the Notes to be sold to such Purchaser on the date of Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the date of Closing, of the following conditions: 

4.1 Representations and Warranties. 

(a) The representations and warranties of the Company in this Agreement shall be correct (i) when made as of the date
hereof and (ii) on the date of Closing. 
 (b) The representations and warranties of the Closing Guarantors in the
Guaranty Agreement shall be correct (i) when made as of the date hereof and (ii) 
on the date of Closing. 
 4.2 Performance; No Default. 

The Company and the Closing Guarantors shall have performed and complied with all agreements and conditions contained in this Agreement
required to be performed or complied with by the Company or the Closing Guarantors, as applicable, prior to or on the date of Closing and after giving effect to the issue and sale of the Notes (and the application of the proceeds thereof as
contemplated by Section 5.14), no Default or Event of Default shall have occurred and be continuing. Neither the Company nor any Subsidiary shall have entered into any transaction since the date of the Memorandum that would have been prohibited
by Sections 10.1, 10.2 or 10.3 had such Sections applied since such date. 
 4.3 Compliance Certificates.

 (a) Officer’s Certificates. 

(i) The Company shall have delivered to such Purchaser an Officer’s Certificate, dated the date of Closing, certifying
that the conditions specified in Sections 4.1(a), 4.2 and 4.10 have been fulfilled as of the date of Closing. 
 (ii)
Each Closing Guarantor shall have delivered to such Purchaser an Officer’s Certificate, dated the date of Closing, certifying that the conditions specified in Sections 4.1(b) and 4.2 (as to such Closing Guarantor) have been fulfilled as of
the date of Closing. 
 (b) Secretary or Treasurer’s Certificates. 

(i) The Company shall have delivered to such Purchaser a certificate of its Secretary or Assistant Secretary, dated the date of
Closing, certifying as to 

  
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(A) the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement and (B) the Company’s
organizational documents as then in effect. 
 (ii) Each Closing Guarantor shall have delivered to such Purchaser a
certificate of its Secretary, Assistant Secretary or Treasurer, dated the date of Closing, certifying as to (A) the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the
Guaranty Agreement and (B) 
such Closing Guarantor’s organizational documents as then in effect. 
 4.4 Guaranty Agreement.

 The Guaranty Agreement shall have been duly authorized, executed and delivered to each Purchaser by the Closing Guarantors, and shall
be in full force and effect. 
 4.5 Opinions of Counsel. 

Such Purchaser shall have received opinions in form and substance satisfactory to such Purchaser, dated the date of Closing (a) from Paul
Hastings LLP, special counsel for the Company and the Closing Guarantors, covering the matters set forth in Exhibit 4.5(a) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel
may reasonably request (and the Company hereby instructs its counsel to deliver such opinions to the Purchasers) and (b) from Morgan, Lewis & Bockius LLP, the Purchasers’ special counsel in connection with such transactions,
substantially in the form set forth in Exhibit 4.5(b) and covering such other matters incident to such transactions as such Purchaser may reasonably request. 

4.6 Purchase Permitted by Applicable Law, etc. 

On the date of Closing, such Purchaser’s purchase of Notes to be purchased shall (a) be permitted by the laws and regulations of each
jurisdiction to which such Purchaser is subject, without recourse to provisions (such as Section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the
particular investment, (b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or
liability under or pursuant to any applicable law or regulation. If requested by such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to
enable such Purchaser to determine whether such purchase is so permitted. 
 4.7 Sale of Other Notes.

 Contemporaneously with the Closing the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to
be purchased by it as specified in Schedule A. 

  
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 4.8 Payment of Special Counsel Fees. 

Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing the reasonable fees, charges and
disbursements of the Purchasers’ special counsel referred to in Section 4.5 to the extent reflected in a statement of such counsel rendered to the Company at least one Business Day prior to the Closing. 

4.9 Private Placement Numbers. 

A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been
obtained for each Series of the Notes. 
 4.10 Changes in Corporate Structure. 

Neither the Company, nor any Closing Guarantor, shall have changed its jurisdiction of incorporation or organization, as applicable, or been a
party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity at any time following the date of the most recent financial statements referred to in Schedule 5.5. 

4.11 Funding Instructions. 

At least three Business Days prior to the date of Closing, each Purchaser shall have received written instructions signed by a Responsible
Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address of the transferee bank, (ii) such transferee bank’s ABA number and (iii) the account name and number
into which the purchase price for the Notes is to be deposited. 
 4.12 Second Amended and Restated
Intercreditor Agreement. 
 The Company shall have delivered to the Purchasers’ special counsel on or before the date of Closing a
fully executed copy of the Second Amended and Restated Intercreditor Agreement. 
 4.13 Proceedings and
Documents. 
 All corporate and other proceedings in connection with the transactions contemplated by this Agreement and all documents
and instruments incident to such transactions shall be satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such
documents as such Purchaser or such special counsel may reasonably request. 
  

	5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

The Company represents and warrants to each Purchaser that: 

5.1 Organization; Power and Authority. 

Each of the Company and each Closing Guarantor is a corporation duly organized, validly existing and in good standing under the laws of its
respective jurisdiction of 

  
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incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to
which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each of the Company and each Closing Guarantor has the corporate power and authority to
own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. The Company has the corporate power and authority to execute and deliver this Agreement and the Notes
and to perform the provisions hereof and thereof, and each Closing Guarantor has the corporate power and authority to execute and deliver the Guaranty Agreement and to perform the provisions thereof. 

5.2 Authorization, etc. 

(a) This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and
this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be
limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 (b) The Guaranty Agreement has been duly authorized by
all necessary corporate action on the part of the Closing Guarantors, and the Guaranty Agreement constitutes a legal, valid and binding obligation of each Closing Guarantor enforceable against each Closing Guarantor in accordance with its terms,
except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 5.3
Disclosure. 
 The Company, through its agent, J.P. Morgan Securities LLC, has delivered to each
Purchaser a copy of a Private Placement Memorandum, dated May 2018 (the “Memorandum”), relating to the transactions contemplated hereby. The Memorandum fairly describes, in all material respects, the general nature of the business
and principal properties of the Company and its Subsidiaries. This Agreement, the Guaranty Agreement, the Memorandum and the documents, certificates or other writings delivered to the Purchasers by or on behalf of the Company or the Closing
Guarantors in connection with the transactions contemplated hereby and identified in Schedule 5.3, and the financial statements listed in Schedule 5.5 (this Agreement, the Guaranty Agreement, the Memorandum and such
documents, certificates or other writings and such financial statements delivered to each Purchaser prior to May 17, 2018 being referred to, collectively, as the “Disclosure Documents”), taken as a whole, do not contain any
untrue statement of a material fact or omit to state any material fact necessary to make the statements  

  
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therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure Documents, there has been no change since September 30, 2017 in the
financial condition, operations, business, properties or prospects of the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. 

5.4 Organization and Ownership of Shares of Subsidiaries; Affiliates. 

(a) Schedule 5.4 contains (except as noted therein) complete and correct lists (i) of the Company’s
Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other
Subsidiary and whether such Subsidiary is a Guarantor, (ii) of the Company’s Affiliates, other than Subsidiaries and Undisclosed Affiliates, and (iii) of the Company’s directors and senior officers. 

(b) All of the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4
as being owned by the Company and its Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Company or another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule 5.4). 

(c) Each Subsidiary identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly existing
and, to the extent such concept is applicable, in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good standing in each jurisdiction in which such
qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such
Subsidiary has the corporate or other power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. 

(d) No Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction (other than
this Agreement, the agreements listed on Schedule 5.4 and customary limitations imposed by corporate law or similar statutes, whether foreign or domestic) restricting the ability of such Subsidiary to pay dividends out of profits or make any
other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar equity interests of such Subsidiary. 

5.5 Financial Statements; Material Liabilities. 

The Company has delivered to each Purchaser copies of the consolidated financial statements of the Company and its Subsidiaries listed on
Schedule 5.5. All such financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Company and its Subsidiaries as of the

  
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respective dates specified in such Schedule and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP
consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments and the absence of footnotes). The Company and its Subsidiaries
do not have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents. 

5.6 Compliance with Laws, Other Instruments, etc. 

(a) The execution, delivery and performance by the Company of this Agreement and the Notes, and the execution, delivery and
performance by the Closing Guarantors of the Guaranty Agreement, will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company or any Subsidiary
under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter, memorandum of association, articles of association, regulations, by-laws, shareholders agreement or any other agreement or instrument to
which the Company or any Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties may be bound, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order,
judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or any Subsidiary or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the
Company or any Subsidiary. All obligations under this Agreement are direct and unsecured obligations of the Company ranking pari passu as against the assets of the Company with all other unsecured Indebtedness (actual or contingent) of the Company
which is not expressed to be subordinated or junior in rank to any other unsecured Indebtedness of the Company. 
 (b) All
obligations under the Guaranty Agreement are direct and unsecured obligations of each Closing Guarantor ranking pari passu as against the assets of such Closing Guarantor with all other unsecured Indebtedness (actual or contingent) of such Closing
Guarantor which is not expressed to be subordinated or junior in rank to any other unsecured Indebtedness of such Closing Guarantor. 

5.7 Governmental Authorizations, etc. 

Except with respect to applicable and routine securities laws filings required by the Exchange Act and the filing of a Form D under the
Securities Act, no consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Company of this Agreement or the Notes, or
by the Closing Guarantors of the Guaranty Agreement. 
 5.8 Litigation; Observance of Agreements,
Statutes and Orders. 
 (a) There are no actions, suits, investigations or proceedings pending or, to the knowledge of
the Company, threatened against or affecting the Company or any 

  
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Subsidiary or any property of the Company or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect. 
 (b) Neither the Company nor any Subsidiary is in default
under any term of any agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or
regulation (including without limitation Environmental Laws, the USA PATRIOT Act or any of the other laws and regulations that are referred to in Section 5.16) of any Governmental Authority, which default or violation, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. 
 5.9 Taxes. 

The Company and its Subsidiaries have filed all income tax returns that are required to have been filed in any jurisdiction, and have paid all
taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have
become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the aggregate Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by
appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP. No Senior Financial Officer of the Company knows of any basis for any other tax or
assessment that could reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Federal, national, state or other taxes for all fiscal periods are
adequate in accordance with GAAP. The United States Federal income tax liabilities of the Company and its Subsidiaries have been finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years
up to and including the fiscal year ended September 30, 2013. 
 5.10 Title to Property; Leases.

 The Company and its Subsidiaries have good and sufficient title to their respective properties that individually or in the aggregate
are Material, including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after said date (except as sold or otherwise disposed
of in the ordinary course of business), in each case free and clear of Liens prohibited by this Agreement. All leases that individually or in the aggregate are Material are valid and subsisting and are in full force and effect in all material
respects. 
 5.11 Licenses, Permits, etc. 

The Company and its Subsidiaries own or possess all licenses, permits, franchises, authorizations, patents, copyrights, proprietary software,
service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate are Material, without known 

  
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conflict with the rights of others, except for those conflicts that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

5.12 Compliance with ERISA. 

(a) The Company and each ERISA Affiliate have operated and administered each Plan (which is not a Multiemployer Plan) in
compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA
Affiliate has incurred any liability for failure to comply with the provisions of Title I of ERISA or pursuant to Title IV of ERISA (other than for premium payments to the PBGC paid in a timely manner) or the penalty or excise tax provisions of the
Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that could, individually or in the aggregate, reasonably be expected to result in the incurrence of any
such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to section 430(k) of
the Code or to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest in connection with the amendment of a Plan, other than such liabilities or Liens as would not
be individually or in the aggregate Material. 
 (b) The present value of the aggregate benefit liabilities under each of the
Plans subject to Title IV of ERISA (other than Multiemployer Plans), determined as of the beginning of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most
recent actuarial valuation report, did not exceed the aggregate current value as of such determination date of the assets of such Plan allocable to such benefit liabilities by more than $13,000,000 in the case of any single Plan and by more than
$17,000,000 in the aggregate for all Plans. The present value of the accrued benefit liabilities (whether or not vested) under each Non-U.S. Plan that is funded, determined as of the end of the Company’s most recently ended fiscal year on the
basis of reasonable actuarial assumptions, did not exceed the current value of the assets of such Non-U.S. Plan allocable to such benefit liabilities. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and
the terms “current value” and “present value” have the meaning specified in section 3 of ERISA. 
 (c)
The Company and its ERISA Affiliates have not incurred (i) withdrawal liabilities under section 4201 of ERISA or contingent withdrawal liabilities under section 4204 of ERISA in respect of Multiemployer Plans that individually or in the
aggregate are Material or (ii) any obligation in connection with the termination of or withdrawal from any Non-U.S. Plan that individually or in the aggregate are Material. 

(d) The expected postretirement benefit obligation (determined as of the last day of the Company’s most recently ended
fiscal year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without 

  
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regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material. 

(e) The execution and delivery of this Agreement and the Guaranty Agreement and the issuance and sale of the Notes hereunder
will not involve any transaction that is subject to and not exempt from the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The representation
by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of the Purchasers’ representations in Section 6.3 as to the sources of the funds used to pay the
purchase price of the Notes to be purchased by the Purchasers. 
 (f) All Non-U.S. Plans have been established, operated,
administered and maintained in compliance with all laws, regulations and orders applicable thereto, except where failure so to comply could not be reasonably expected to have a Material Adverse Effect. All premiums, contributions and any other
amounts required by applicable Non-U.S. Plan documents or applicable laws to be paid or accrued by the Company and its Subsidiaries have been paid or accrued as required, except where failure so to pay or accrue could not be reasonably expected to
have a Material Adverse Effect. 
 5.13 Private Offering by the Company. 

Neither the Company nor anyone acting on its behalf has offered the Notes or any similar Securities for sale to, or solicited any offer to buy
any of the same from, or otherwise approached or negotiated in respect thereof with, any Person other than the Purchasers and not more than ten (10) other Institutional Investors (as defined in clause (c) to the definition of such term),
each of which has been offered the Notes at a private sale for investment. Neither the Company nor anyone acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements
of Section 5 of the Securities Act or to the registration requirements of any securities or blue sky laws of any applicable jurisdiction. For purposes of this Section 5.13 only, each reference to the Notes shall be deemed to include the
Guaranty Agreement. 
 5.14 Use of Proceeds; Margin Regulations. 

The Company will apply the proceeds of the sale of the Notes hereunder as set forth in the section titled “Executive Summary” and
subsection titled “Acquisition Overview” in the Memorandum under the heading “The Offering and Use of Proceeds”. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose
of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to
involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 5% of the value of the
consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 5% of the value of such 

  
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assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 

5.15 Existing Indebtedness; Future Liens. 

(a) Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of
the Company and its Subsidiaries as of March 31, 2018 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any), since which date there has been no
Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company or its Subsidiaries. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness of the Company or any Subsidiary the aggregate principal amount of which
exceeds $2,000,000 that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of
payment. 
 (b) Except as disclosed in Schedule 5.15, neither the Company nor any Subsidiary has agreed or consented
to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien not permitted by Section 10.6. 

(c) Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument
evidencing Indebtedness of the Company or such Subsidiary, any agreement relating thereto or any other agreement (including, but not limited to, its charter or other organizational document) which limits the amount of, or otherwise imposes
restrictions on the incurring of, Indebtedness of the Company, except as set forth in Schedule 
5.15. 
 5.16 Foreign Assets Control Regulations, etc. 

(a) Neither the Company nor any Controlled Entity is (i) a Person whose name appears on the list of Specially Designated
Nationals and Blocked Persons published by the Office of Foreign Assets Control, United States Department of the Treasury (“OFAC”) (an “OFAC Listed Person”) (ii) an agent, department, or instrumentality of, or
is otherwise beneficially owned by, controlled by or acting on behalf of, directly or indirectly, (x) any OFAC Listed Person or (y) any Person, entity, organization, foreign country or regime that is the subject of any country based OFAC
Sanctions Program, or (iii) otherwise blocked, subject to sanctions under or to the Company’s knowledge, after making due inquiry, engaged in any activity now or in the past five years in violation of other applicable United States
economic sanctions, including but not limited to, the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act or any similar law or regulation with respect to Iran or any other country, the Sudan
Accountability and 

  
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Divestment Act, any OFAC Sanctions Program, or any economic sanctions regulations administered and enforced by the United States or any enabling legislation or executive order relating to any of
the foregoing (collectively, “U.S. Economic Sanctions”) (each OFAC Listed Person and each other Person, entity, organization and government of a country described in clause (ii) or clause (iii), a “Blocked
Person”). Neither the Company nor any Controlled Entity has been notified that its name appears or may in the future appear on a state list of Persons that engage in investment or other commercial activities in Iran or any other country
that is subject to U.S. Economic Sanctions. 
 (b) No part of the proceeds from the sale of the Notes hereunder constitutes
or will constitute funds obtained on behalf of any Blocked Person or will otherwise be used by the Company or any Controlled Entity, directly or indirectly, (i) in connection with any investment in, or any transactions or dealings with, any
Blocked Person, or (ii) otherwise in violation of U.S. Economic Sanctions. 
 (c) Neither the Company nor any Controlled
Entity (i) has been found in violation of or convicted of, money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under the Currency and Foreign Transactions Reporting Act of 1970 (otherwise
known as the Bank Secrecy Act), the USA PATRIOT Act or any other United States law or regulation governing such activities (collectively, “Anti-Money Laundering Laws”) or any U.S. Economic Sanctions violations, (ii) to the
Company’s actual knowledge after making due inquiry, is under investigation by any Governmental Authority for possible violation of Anti-Money Laundering Laws or any U.S. Economic Sanctions violations, (iii) has been assessed civil
penalties under any Anti-Money Laundering Laws or any U.S. Economic Sanctions, or (iv) has had any of its funds seized or forfeited in an action under any Anti-Money Laundering Laws. The Company has established procedures and controls which it
reasonably believes are adequate (and otherwise comply with applicable law) to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable Anti-Money Laundering Laws and U.S. Economic Sanctions.

 (d)(i) Neither the Company nor any Controlled Entity (A) has been convicted of bribery or any other anti-corruption
related activity under any applicable law or regulation in a U.S. or any non-U.S. country or jurisdiction, including but not limited to, the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010 (collectively, “Anti-Corruption
Laws”), (B) to the Company’s actual knowledge after making due inquiry, is under investigation by any U.S. or non-U.S. Governmental Authority for possible violation of Anti-Corruption Laws, (C) has been assessed civil or
criminal penalties under any Anti-Corruption Laws or (D) has been or is the target of sanctions imposed by the United Nations or the European Union; 

(ii) To the Company’s actual knowledge after making due inquiry, neither the Company nor any Controlled Entity has, within
the last five years and where to do so would have resulted in a violation of then-applicable Anti-Corruption Laws, directly or indirectly offered, promised, given, paid or authorized the offer, promise, giving or payment of anything of value to a
Governmental Official or a commercial counterparty for the purposes of: (A)

  
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influencing any act, decision or failure to act by such Governmental Official in his or her official capacity or such commercial counterparty, (B) inducing a Governmental Official to do or
omit to do any act in violation of the Governmental Official’s lawful duty, or (C) inducing a Governmental Official or a commercial counterparty to use his or her influence with a government or instrumentality to affect any act or decision
of such government or entity; in each case in order to obtain, retain or direct business or to otherwise secure an improper advantage; and 

(iii) No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for any improper
payments, including bribes, to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage. The Company has established procedures and controls which it reasonably believes are
adequate (and otherwise comply with applicable law) to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable current and future Anti-Corruption Laws. 

5.17 Status under Certain Statutes. 

Neither the Company nor any Subsidiary is (a) required to register as an “investment company,” as such term is defined in the
Investment Company Act of 1940, as amended, or (b) subject to regulation under the Public Utility Holding Company Act of 2005, as amended, the ICC Termination Act of 1995, as amended, or the Federal Power Act, as amended. 

5.18 Environmental Matters. 

(a) Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no
proceeding has been instituted raising any claim against the Company or any of its Subsidiaries or any of their respective real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the
environment or violation of any Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect. 

(b) Neither the Company nor any Subsidiary has knowledge of any facts which would give rise to any claim, public or private, of
violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in each case, such
as could not reasonably be expected to result in a Material Adverse Effect. 
 (c) Neither the Company nor any Subsidiary has
stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any manner that could
reasonably be expected to result in a Material Adverse Effect. 

  
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 (d) All buildings on all real properties now owned, leased or operated by the
Company or any Subsidiary are in compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result in a Material Adverse Effect. 

 

	6.	REPRESENTATIONS OF THE PURCHASERS. 

 6.1 
Purchase for Investment. 
 Each Purchaser severally represents that it is purchasing the Notes for its own account or for one or
more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Purchaser’s or such pension or trust fund’s
property shall at all times be within such Purchaser’s or such pension or trust fund’s control. Each Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to
the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Company is not required, nor does it intend, to
register the Notes. 
 6.2 Accredited Investor. 

Each Purchaser represents that it is an “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation
D under the Securities Act acting for its own account (and not for the account of others) or as a fiduciary or agent for others (which others are also “accredited investors”). Each Purchaser further represents that such Purchaser has had
the opportunity to ask questions of the Company and received answers concerning the terms and conditions of the sale of the Notes. 
 6.3 
Source of Funds. 
 Each Purchaser severally represents that at least one of the following statements is an accurate representation
as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder: 

(a) the Source is an “insurance company general account” (as the term is defined in the United States Department of
Labor’s Prohibited Transaction Class Exemption (“PTE”) 95-60, as amended) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the NAIC (the “NAIC
Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities (as defined by the NAIC Annual Statement) for the general account contract(s)
held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60, as amended) or by the same employee organization in the general account do not exceed 10% of the total reserves
and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or 

  
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 (b) the Source is a separate account of an insurance company that is maintained
solely in connection with the fixed contractual obligations of the insurance company under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any
participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment performance of the separate account; or 

(c) the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1, as amended or
(ii) a bank collective investment fund, within the meaning of the PTE 91-38, as amended and, except as disclosed by such Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan (as defined in such PTEs) or
group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or 

(d)(i) the Source constitutes assets of an “investment fund” (within the meaning of Part VI of PTE 84-14, as amended
(the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), (ii) no employee benefit plan’s assets that are managed by
the QPAM in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by
the same employee organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM at the time of the purchase of the Notes hereunder, (iii) the conditions of Part I(c) and (g) of the QPAM
Exemption are satisfied, (iv) neither the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the Company that would cause the QPAM and the Company to be “related” within the meaning of Part
VI(h) of the QPAM Exemption and (v) (A) the identity of such QPAM and (B) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans established or
maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to
the Company in writing pursuant to this clause (d); or 
 (e)(i) the Source constitutes assets of a “plan(s)”
(within the meaning of Part IV(h) of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption), (ii) the conditions of
Part I(a), (g) and (h) of the INHAM Exemption are satisfied, (iii) neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM Exemption) owns a
10% or more interest in the Company and (iv) (A) the identity of such INHAM and (B) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause
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 (f) the Source is a governmental plan, church plan that has not made an election
under section 410(d) of the Code, or a non-U.S. plan and the purchase does not violate any federal, state or other law that regulates its investment in the Notes; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee
benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source
does not include assets of any employee benefit plan, governmental plan, church plan that has not made an election under section 410(d) of the Code, or Non-U.S. Plan. 

As used in this Section 6.3, the terms “employee benefit plan,” “governmental plan,” “church plan,” and “separate
account” shall, unless otherwise indicated, have the respective meanings assigned to such terms in section 3 of ERISA. 
  

	7.	INFORMATION AS TO COMPANY. 

 7.1 
Financial and Business Information. 
 The Company shall deliver to each holder of a Note that is an Institutional Investor: 

(a) Quarterly Statements — within 60 days (or such shorter period as is 15 days greater than the period applicable
to the filing of the Company’s Quarterly Report on Form 10-Q (the “Form 10-Q”) with the SEC regardless of whether the Company is subject to the filing requirements thereof after the end of each quarterly fiscal period
in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of, 

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and 

(ii) consolidated statements of earnings, shareholders’ equity and cash flows of the Company and its Subsidiaries, for
such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 
 setting forth
in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and certified by a Senior
Financial Officer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations and cash flows, subject to changes resulting from year-end adjustments and the absence of
footnotes, provided that delivery within the time period specified above of copies of the Company’s Form 10-Q prepared in compliance in all material respects with the requirements therefor and filed with the SEC shall be deemed to satisfy
the requirements of this Section 7.1(a), provided, further, that the Company shall be deemed to have made such delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on “EDGAR” and on its home

  
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page on the worldwide web (at the date of this Agreement located at: http//www.woodward.com) (such availability being referred to as “Electronic Delivery”); 

(b) Annual Statements — within 100 days (or such shorter period as is 15 days greater than the period applicable to
the filing of the Company’s Annual Report on Form 10-K (the “Form 10-K”) with the SEC regardless of whether the Company is subject to the filing requirements thereof after the end of each fiscal year of the Company,
duplicate copies of 
 (i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such year, and

 (ii) consolidated statements of earnings, shareholders’ equity and cash flows of the Company and its Subsidiaries for
such year, 
 setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in
accordance with GAAP, and accompanied by an opinion thereon of independent public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position
of the companies being reported upon and their results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance
with generally accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the circumstances, provided that the delivery within the time period specified above of the Company’s Form 10-K for such
fiscal year (together with the Company’s annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in all material respects in accordance with the requirements therefor and filed with the SEC
shall be deemed to satisfy the requirements of this Section 7.1(b), provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K if it shall have timely made Electronic Delivery thereof; 

(c) SEC and Other Reports — promptly upon their becoming available, one copy of (i) each financial statement,
report, notice or proxy statement sent by the Company or any Subsidiary to its public securities holders generally, and (ii) each regular or periodic report, each registration statement (other than a registration statement on Form S-8 and
without exhibits except as expressly requested by such holder), and each prospectus and all amendments thereto filed by the Company or any Subsidiary with the SEC and of all press releases and other statements made available generally by the Company
or any Subsidiary to the public concerning developments that are Material, provided that the Company shall be deemed to have made such delivery of such materials if it shall have made timely Electronic Delivery thereof; 

(d) Notice of Default or Event of Default — promptly, and in any event within five days after a Responsible Officer
becoming aware of the existence of any Default or Event of Default or that any Person has given any written notice or taken any action with 

  
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respect to a claimed Default hereunder or that any Person has given any notice or taken any action with respect to a claimed Default of the type referred to in Section 11(f), a written
notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; 

(e) ERISA Matters — promptly, and in any event within five Business Days after a Responsible Officer becoming aware
of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 

(i) with respect to any Plan subject to Title IV of ERISA, any reportable event, as defined in section 4043(c) of ERISA
and the regulations thereunder, for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or 

(ii) the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under
section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with
respect to such Multiemployer Plan; or 
 (iii) any event, transaction or condition that could result in the incurrence of
any liability by the Company or any ERISA Affiliate for failure to comply with the provisions of Title I of ERISA or pursuant to Title IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in
Section 3 of ERISA), or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken
together with any other such liabilities or Liens then existing, could reasonably be expected to have a Material Adverse Effect; or 

(iv) receipt of notice of the imposition of a Material financial penalty (which for this purpose shall mean any tax, penalty or
other liability, whether by way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; 
 (f) Notices from
Governmental Authority — promptly, and in any event within 30 days of receipt thereof, copies of any written notice to the Company or any Subsidiary from any Federal, national or state Governmental Authority relating to any order, ruling,
statute or other law or regulation that could reasonably be expected to have a Material Adverse Effect; 
 (g) Major
Credit Facility — substantially concurrent with the transmission thereof, copies (unless otherwise delivered pursuant to the other provisions of this Section 7.1) of all financial statements, notices, reports and other information
given by or on behalf of the Company or any of its Subsidiaries to the financial institutions party to any Major Credit Facility (excluding routine matters such as borrowing requests); and 

  
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 (h) Requested Information — with reasonable promptness, such other
data and information relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries (including, but without limitation, actual copies of the Company’s Form 10-Q and
Form 10-K) or relating to the ability of the Company to perform its obligations hereunder and under the Notes as from time to time may be reasonably requested by any such holder of Note. 

7.2 Officer’s Certificate. 

Each set of financial statements delivered to a holder of a Note pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by
a certificate of a Senior Financial Officer setting forth (which, in the case of Electronic Delivery of any such financial statements, shall be by separate concurrent delivery of such certificate to each holder of a Note): 

(a) Covenant Compliance — the information (including detailed calculations) required in order to establish whether
the Company was in compliance with the requirements of Section 10.3, and Section 10.6 through Section 10.11, inclusive, during the quarterly or annual period covered by the statements then being furnished (including with respect to
each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage in existence as of
the end of such period); and 
 (b) Event of Default — a statement that such Senior Financial Officer has
reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the
statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or
event existed or exists, specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto. 

7.3 Visitation. 

The Company shall permit the representatives of each holder of a Note that is an Institutional Investor: 

(a) No Default — if no Default or Event of Default then exists, at the expense of such holder and upon reasonable
prior notice to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers, and (with the consent of the Company, which
consent will not be unreasonably withheld) its independent public accountants, and (with the consent of the Company, which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary, all
at such reasonable times and as often as may be reasonably requested in writing; and 

  
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 (b) Default — if a Default or Event of Default then exists, at the
expense of the Company to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss
their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts of the Company and its
Subsidiaries), all at such times and as often as may be requested. 
  

	8.	PAYMENT AND PREPAYMENT OF THE NOTES. 

 8.1 
Maturity. 
 (a) Series P Notes. As provided therein, the entire unpaid principal balance of the Series P
Notes shall be due and payable on May 30, 2025. 
 (b) Series Q Notes. As provided therein, the entire unpaid
principal balance of the Series Q Notes shall be due and payable on May 30, 2027. 
 (c) Series R Notes. As
provided therein, the entire unpaid principal balance of the Series R Notes shall be due and payable on May 30, 2029. 

(d) Series S Notes. As provided therein, the entire unpaid principal balance of the Series S Notes shall be due and
payable on May 30, 2030. 
 (e) Series T Notes. As provided therein, the entire unpaid principal balance of the
Series T Notes shall be due and payable on May 30, 2033. 
 8.2 Optional Prepayments with Make-Whole
Amount. 
 The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the
Notes (but, in the case of a partial prepayment, in an amount not less than $1,000,000 of the aggregate principal amount of the Notes then outstanding), at 100% of the principal amount so prepaid, together with the interest so accrued to the date of
prepayment, plus the applicable Make-Whole Amount determined for the prepayment date with respect to such principal amount; provided, however, that the Company may prepay all or any part of any Series (rather than all or any part of all Series) of
Notes only so long as (a) no Default or Event of Default shall have occurred and be continuing and (b) such prepayment is not in connection with any solicitation by the Company of any consent, waiver, amendment or other similar transaction
from any holder of Notes pursuant to Section 17. The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2 not less than 30 days and not more than 60 days prior to the date fixed for such
prepayment. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes, designated by Series, if applicable, to be prepaid on such date, the principal amount of each Note held by such holder
to be prepaid (determined in accordance with Section 8.5), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the
estimated Make-Whole Amount due with respect to each Series of Notes in connection with such prepayment 

  
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(calculated as if the date of such notice were the date of the prepayment), setting forth in each case the details of such computation. Two Business Days prior to such prepayment, the Company
shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date. 

8.3 Prepayment Upon Change of Control. 

(a) Notice of Change of Control or Control Event; Offer to Prepay if Change of Control has Occurred. The Company will,
within five (5) Business Days after any Responsible Officer has knowledge of the occurrence of any Change of Control or Control Event, give written notice of such Change of Control or Control Event to each holder of Notes. If a Change of
Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in clause (b) of this Section 8.3 and shall be accompanied by the certificate described in clause (e) of this Section 8.3. 

(b) Offer to Prepay; Time for Payment. The offer to prepay Notes contemplated by clause (a) of this
Section 8.3 shall be an offer to prepay, in accordance with and subject to this Section 8.3, all, but not less than all, of the Notes held by each holder (in the case of this Section 8.3 only, “holder” in respect of any Note
registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”). The Proposed Prepayment Date shall not be less than thirty
(30) days and not more than sixty (60) days after the date of such offer (if the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the forty-fifth (45th) day after the date of such
offer). 
 (c) Acceptance; Rejection. A holder of Notes may accept the offer to prepay made pursuant to this
Section 8.3 by causing a notice of such acceptance to be delivered to the Company at least ten (10) calendar days prior to the Proposed Prepayment Date. A failure by a holder of Notes to respond to an offer to prepay made pursuant to this
Section 8.3, or to accept an offer as to all of the Notes held by the holder, within such time period, shall be deemed to constitute a rejection of such offer by such holder. 

(d) Prepayment. Prepayment of the Notes to be prepaid pursuant to this Section 8.3 shall be at 100% of the
principal amount of such Notes together with interest on such Notes accrued to the date of prepayment, but without any Make-Whole Amount or penalty or premium of any kind. The prepayment shall be made on the Proposed Prepayment Date. 

(e) Officer’s Certificate. Each offer to prepay the Notes pursuant to this Section 8.3 shall be accompanied by
a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date, (ii) that such offer is made pursuant to this Section 8.3, (iii) that the entire
principal amount of each Note is offered to be prepaid without any premium, (iv) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date, (v) that the conditions of this Section 8.3
required to be fulfilled prior to the giving of such notice have been fulfilled and (vi) in reasonable detail, the nature and date of the Change of Control. 

  
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 8.4 Prepayment in Connection with an Asset Disposition.

 (a) Notice and Offer. In the event any Debt Prepayment Application is to be used at the election of the Company
to make an offer (a “Transfer Prepayment Offer”) to prepay Notes pursuant to Section 10.3 of this Agreement (a “Debt Prepayment Transfer”), the Company will give written notice of such Debt Prepayment Transfer
to each holder of Notes. Such written notice shall contain, and such written notice shall constitute, an irrevocable offer to prepay, at the election of each holder, a portion of the Notes held by such holder equal to such holder’s Ratable
Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer on a date specified in such notice (the “Transfer Prepayment Date”) that is not less than thirty (30) days and not more than sixty (60) days
after the date of such notice, together with interest on the amount to be so prepaid accrued to the Transfer Prepayment Date. If the Transfer Prepayment Date shall not be specified in such notice, the Transfer Prepayment Date shall be the
forty-fifth (45th) day after the date of such notice. 
 (b) Acceptance and Payment. To accept such Transfer
Prepayment Offer, a holder of Notes shall cause a notice of such acceptance to be delivered to the Company not later than twenty (20) days after the date of such written notice from the Company, provided, that failure to accept such offer in
writing within twenty (20) days after the date of such written notice shall be deemed to constitute a rejection of the Transfer Prepayment Offer. If so accepted by any holder of a Note, such offered prepayment (equal to such holder’s
Ratable Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer) shall be due and payable on the Transfer Prepayment Date. Such offered prepayment shall be made at 100% of the principal amount of such Notes being so prepaid,
together with interest on such principal amount then being prepaid accrued to the Transfer Prepayment Date determined as of the date of such prepayment, but without any Make-Whole Amount or penalty or premium of any kind. The prepayment shall be
made on the Transfer Prepayment Date. 
 (c) Other Terms. Each offer to prepay the Notes pursuant to this
Section 8.4 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying (i) the Transfer Prepayment Date, (ii) the Net Proceeds Amount in respect of the
applicable Debt Prepayment Transfer, (iii) that such offer is being made pursuant to this Section 8.4 and Section 10.3 of this Agreement, (iv) the principal amount of each Note offered to be prepaid, (v) the interest that
would be due on each Note offered to be prepaid, accrued to the Transfer Prepayment Date, and (vi) in reasonable detail, the nature of the Asset Disposition giving rise to such Debt Prepayment Transfer and certifying that no Default or Event of
Default exists or would exist after giving effect to the prepayment contemplated by such offer. 
 8.5
Allocation of Partial Prepayments of Notes. 
 In the case of each partial prepayment of the Notes
pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes of each Series to be 

  
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prepaid at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. 

8.6 Maturity; Surrender, etc. 

In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and
become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the
Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be
surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

8.7 Purchase of Notes. 

The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the
outstanding Notes, except (a) upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes or (b) pursuant to an offer to purchase made by the Company or an Affiliate pro rata to the holders of
any Series of Notes at the time outstanding upon the same terms and conditions (except to the extent reasonably necessary to reflect differences in interest rates and maturities); provided that the Company may only make an offer to purchase an
individual Series of Notes (rather than all Notes) so long as no Default or Event of Default has occurred and is continuing and such offer is not in connection with any solicitation by the Company of any consent, waiver, amendment or similar
transaction from any holder of Notes pursuant to Section 17. Any such offer shall provide each holder of Notes offered to be purchased with sufficient information to enable it to make an informed decision with respect to such offer, and shall
remain open for at least fifteen (15) Business Days. If the holders of more than 30% of the principal amount of the Notes then outstanding that are offered to be purchased accept such offer, the Company shall promptly notify the remaining
holders of Notes offered to be purchased of such fact and the expiration date of such offer shall be extended by the number of days necessary to give each such remaining holder at least five (5) Business Days from its receipt of such notice to
accept such offer. The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange
for any such Notes. 
 8.8 Make-Whole Amount. 

The term “Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value
of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the 

  
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Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount with respect to any Note, the following terms have the following meanings: 

“Called Principal” means, with respect to any Note, the principal of such Note that is to be prepaid pursuant
to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting
all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor
(applied on the same periodic basis as that on which interest on such Note is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus
(b) the yield to maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as
“Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the
Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by
(i) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued
actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to
the number of decimal places as appears in the interest rate of the applicable Note. 
 If such yields are not Reported or
the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to
maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal
Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S.
Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and
greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as
appears in the interest rate of the applicable Note. 

  
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 “Remaining Average Life” means, with respect to any Called
Principal, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called
Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the
scheduled due date of such Remaining Scheduled Payment. 
 “Remaining Scheduled Payments” means, with
respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its
scheduled due date, provided that if such Settlement Date is not a date on which interest payments are due to be made under such Note, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest
accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.2 or Section 12.1. 

“Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called
Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 
  

	9.	AFFIRMATIVE COVENANTS. 

 The Company covenants
that so long as any of the Notes are outstanding: 
 9.1 Compliance with Law. 

Without limiting Section 10.5, the Company will, and will cause each of its Subsidiaries to, comply with all laws, ordinances or
governmental rules or regulations to which each of them is subject, including, without limitation, ERISA, the USA PATRIOT Act, Environmental Laws and the other laws and regulations that are referred to in Section 5.16, and will obtain and
maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, in each case, to the extent
necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 9.2
Insurance. 
 The Company will, and will cause each of the Guarantors to, maintain, with financially
sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance,
if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated. 

  
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 9.3 Maintenance of Properties. 

The Company will, and will cause each of its Subsidiaries to, maintain and keep, or cause to be maintained and kept, their respective
properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times, provided that this Section 9.3 shall not prevent the
Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 9.4 Payment of Taxes
and Claims. 
 The Company will, and will cause each of its Subsidiaries to, file all tax returns required to be filed in any
jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent the
same have become due and payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, provided that
(a) neither the Company nor any Subsidiary need pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in
appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (b) neither the Company nor any Subsidiary need file any such tax
return or pay any such tax, assessment, charge, levy or claim if the nonfiling of such tax returns and the nonpayment of all such taxes, assessments, charges and levies in the aggregate could not reasonably be expected to have a Material Adverse
Effect. 
 9.5 Corporate Existence, etc. 

Subject to Section 10.2, the Company will at all times preserve and keep in full force and effect its corporate existence. Subject to
Sections 10.2 and 10.3, the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Subsidiaries (unless merged into the Company or a Wholly-Owned Subsidiary) and all rights and franchises of
the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise could not, individually or in the aggregate,
have a Material Adverse Effect. 
 9.6 Books and Records. 

The Company will, and will cause each of its Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all
applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or such Subsidiary, as the case may be. 

9.7 Ranking of Obligations. 

The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without
preference or priority, with all other 

  
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unsecured unsubordinated Indebtedness of the Company. The Company will ensure that each Guarantor’s payment obligations under the Guaranty Agreement will at all times rank at least pari
passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of such Guarantor. 
 9.8 
Guaranty by Subsidiaries; Liens. 
 (a) If at any time, pursuant to the terms and conditions of any Major Credit
Facility, any existing or newly acquired or formed Subsidiary of the Company becomes obligated as a guarantor or obligor under such Major Credit Facility, the Company will, at its sole cost and expense, cause such Subsidiary to concurrently
therewith become a Guarantor in respect of this Agreement and the Notes, and within ten (10) Business Days thereafter will deliver to each of the holders of the Notes the following items: 

(i) an executed supplement to the Guaranty Agreement in the form of Exhibit A thereto (a “Guaranty
Supplement”); 
 (ii) such documents and evidence with respect to such Subsidiary as the Required Holders may
reasonably request in order to establish the existence and good standing of such Subsidiary and the authorization of the transactions contemplated by such Guaranty Supplement; and 

(iii) an opinion of counsel to the Company and such Subsidiary in form and substance satisfactory to the Required Holders to
the effect that (x) such Guaranty Supplement has been duly authorized, executed and delivered by such Subsidiary, (y) the Guaranty Agreement as supplemented by such Guaranty Supplement constitutes the legal, valid and binding contract and
agreement of such Subsidiary, enforceable in accordance with its terms (except as enforcement of such terms may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles) and (z) the execution, delivery and performance by such Subsidiary of such Guaranty Supplement do not (A) violate any law, rule or regulation applicable to such
Subsidiary, or (B) (1) conflict with or result in any breach of any of the provisions of or constitute a default under or result in the creation or imposition of any Lien not permitted by Section 10.6 or (2) conflict with or
result in any breach of any of the provisions of or constitute a default under (I) the provisions of the charter, bylaws, certificate of formation, operating agreement or other constitutive documents of such Subsidiary, or (II) any agreement or
other instrument to which such Subsidiary is a party or by which such Subsidiary may be bound; 
 provided, that notwithstanding anything
contained in this Section 9.8(a) to the contrary, the Company shall be under no obligation to (but may in its sole discretion) require any Foreign Subsidiary to become a Guarantor in respect of this Agreement and the Notes to the extent such
Foreign Subsidiary’s obligations under all Major Credit Facilities consist 

  
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solely of direct borrowings solely to such Foreign Subsidiary (a “Foreign Borrowing”) or guaranties of a Foreign Borrowing by another Foreign Subsidiary. 

(b) If at any time, pursuant to the terms and conditions of all of the Major Credit Facilities, (i) any Guarantor is
discharged and released from its Guaranty of Indebtedness under all of the Major Credit Facilities and such Guarantor is not a co-obligor under any of the Major Credit Facilities and (ii) the Company shall have delivered to each holder of Notes
an Officer’s Certificate certifying that (x) the condition specified in clause (i) above has been satisfied and (y) immediately preceding the release of such Guarantor from the Guaranty Agreement and after giving effect thereto,
no Default or Event of Default will have existed or would exist, then, upon receipt by the holders of Notes of such Officer’s Certificate, such Guarantor will be discharged and released, automatically and without the need for any further
action, from its obligations under the Guaranty Agreement; provided that, if in connection with any release of a Guarantor from its Guaranty of Indebtedness under any Major Credit Facility any fee or other consideration (excluding, for the avoidance
of doubt, any repayment of the principal or interest under any Major Credit Facility in connection with such release) is paid or given to any holder of Indebtedness under such Major Credit Facility in connection with such release, each holder of a
Note shall receive equivalent consideration on a pro rata basis in connection with such Guarantor’s release from the Guaranty Agreement. Without limiting the foregoing, for purposes of further assurance, each of the holders of the Notes agrees
to provide to the Company and such Guarantor, if reasonably requested by the Company or such Guarantor and at the Company’s expense, written evidence of such discharge and release signed by such holder. 

(c) If at any time, pursuant to the terms and conditions of any Major Credit Facility, the Company or any of its Subsidiaries
are required to or elect to grant Liens on any of their assets to secure the Indebtedness evidenced by such Major Credit Facility, the Company will, at its sole cost and expense, grant, or cause such Subsidiary to grant, Liens on such assets (other
than the Capital Stock of a Foreign Subsidiary if the pledge of such Capital Stock would result in adverse tax consequences to the Company or such Subsidiary not also caused by the grant of such Lien in respect of such Major Credit Facility) in
favor of the holders of the Notes (or in favor of a collateral agent reasonably acceptable to the Required Holders for the benefit of the holders of the Notes), and within ten (10) Business Days thereafter will deliver to each of the holders of
the Notes the following items: 
 (i) such security documents as the Required Holders deem reasonably necessary or advisable
to grant to the holders of Notes (or such collateral agent for the benefit of the holders of Notes) a perfected first priority security interest to (or for the benefit of) the holders of Notes; 

(ii) such documents and evidence with respect to such Liens as the Required Holders may reasonably request in order to
establish the existence and priority of such Liens and the authorization of the transactions contemplated by such security documents; and 

  
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 (iii) an opinion of counsel to the Company or such Subsidiary in form and
substance satisfactory to the Required Holders to the effect that (x) such security documents have been duly authorized, executed and delivered by the Company or such Subsidiary, (y) such security documents constitute the legal, valid and
binding contract and agreement of the Company or such Subsidiary, enforceable in accordance with their terms (except as enforcement of such terms may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and similar
laws affecting the enforcement of creditors’ rights generally and by general equitable principles) and (z) the execution, delivery and performance by the Company or such Subsidiary of such security documents do not violate (A) any
law, rule or regulation applicable to the Company or such Subsidiary, or (B)(1) conflict with or result in any breach of any of the provisions of or constitute a default under or result in the creation or imposition of any Lien not permitted by
Section 10.6 or (2) conflict with or result in any breach of any of the provisions of or constitute a default under (I) the provisions of the charter, bylaws, certificate of formation, operating agreement or other constitutive
documents of the Company or such Subsidiary, or (II) any agreement or other instrument to which the Company or such Subsidiary is a party or by which such Subsidiary may be bound; 

(d) If at any time, pursuant to the terms and conditions of any Major Credit Facility, Liens granted by the Company or any
Subsidiary are released under all of the Major Credit Facilities and the Company shall have delivered to each holder of Notes an Officer’s Certificate certifying that immediately preceding the release of such Liens and after giving effect
thereto, no Default or Event of Default will have existed or would exist, then, upon receipt by the holders of Notes of such Officer’s Certificate, such Liens in favor of the holders of Notes will be discharged and released, automatically and
without the need for any further action; provided that, if in connection with any release of such Liens under any Major Credit Facility any fee or other consideration (excluding, for the avoidance of doubt, any repayment of the principal or interest
under any Major Credit Facility in connection with such release) is paid or given to any holder of Indebtedness under such Major Credit Facility in connection with such release, each holder of a Note shall receive equivalent consideration on a pro
rata basis in connection with such release of Liens securing the Indebtedness evidenced by this Agreement and the Notes. Without limiting the foregoing, for purposes of further assurance, each of the holders of the Notes agrees to provide to the
Company, if reasonably requested by the Company and at the Company’s expense, written evidence of such discharge and release signed by such holder (or the collateral agent appointed by the holders of Notes). 

9.9 Intercreditor Agreement. 

If at any time, pursuant to the terms and conditions of any Major Credit Facility, (a) Subsidiaries of the Company are required to provide
a Guaranty of the Company’s Indebtedness under such Major Credit Facility and such Subsidiaries are required to become a Guarantor in respect of this Agreement and the Notes or (b) the Company or any of its Subsidiaries are required to
grant Liens on any of their assets to secure the Indebtedness evidenced by any Major Credit Facility or any guaranty thereof, and the Company or such Subsidiaries are required to 

  
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grant Liens to secure the Indebtedness evidenced by this Agreement and the Notes, then the Company will, concurrently with the execution thereof or the granting of such Guaranties and/or Liens,
cause the lenders under such Major Credit Facility to enter into, and the holders of Notes hereby agree to enter into, an intercreditor agreement in form and substance (including, without limitation, as to the sharing of recoveries and set offs)
reasonably satisfactory to the Required Holders (the “Intercreditor Agreement”) with the holders of Notes, or enter into a joinder agreement to such Intercreditor Agreement in form and substance reasonably satisfactory to the Required
Holders (it being acknowledged and agreed that the Second Amended and Restated Intercreditor Agreement is in form and substance satisfactory to the Required Holders with respect to the granting of Guaranties). Within ten (10) Business Days
following the execution of any such Intercreditor Agreement (or any joinder thereto), the Company will deliver an executed copy thereof to each holder of Notes. 
  

	10.	NEGATIVE COVENANTS. 

 The Company covenants that
so long as any of the Notes are outstanding: 
 10.1 Transactions with Affiliates. 

The Company will not and will not permit any Subsidiary to enter into directly or indirectly any Material transaction or group of related
transactions which collectively are Material (including without limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company or another Subsidiary), except in
the ordinary course of business or pursuant to the reasonable requirements of the Company’s or such Subsidiary’s business and, in each case, upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would be
obtainable in a comparable arm’s-length transaction with a Person not an Affiliate. 
 10.2 Merger,
Consolidation, etc. 
 The Company will not, and will not permit any of its Subsidiaries to, consolidate with or merge with any other
Person or convey, transfer or lease all or substantially all of its assets in a single transaction or series of transactions to any Person (except that, so long as no Default or Event of Default exists or would result therefrom, a Subsidiary of the
Company may (x) consolidate with or merge with, or convey, transfer or lease all or substantially all of its assets in a single transaction or series of transactions to, the Company or another Subsidiary, so long as in each case involving a
Guarantor, the survivor of such merger or consolidation or the transferee of such assets shall have assumed such Guarantor’s obligations under the Guaranty Agreement (and to the extent the Guarantor is not the survivor or transferee, the
Company shall cause the successor thereto to comply with clauses (a) and (b) of this Section 10.2 as if the Successor Company (as defined below) were the successor to such Guarantor) and (y) convey, transfer or lease all of its
assets in compliance with the provisions of Section 10.3), provided that the foregoing restriction does not apply to the consolidation or merger of the Company with, or the conveyance, transfer or lease of substantially all of the assets of the
Company in a single transaction or series of transactions to, any Person so long as: 
 (a) the successor formed by such
consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer or lease all or substantially all of the 

  
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assets of the Company as an entirety, as the case may be (the “Successor Company”), will be a solvent corporation or limited liability company organized and existing under the
laws of the United States of America, any State thereof or the District of Columbia; 
 (b) if the Company is not the
Successor Company, such Successor Company will have executed and delivered to each holder of Notes its assumption of the due and punctual performance and observance of each covenant and condition of this Agreement and the Notes (pursuant to such
agreements and instruments as shall be reasonably satisfactory to the Required Holders), and the Company will have caused to be delivered to each holder of Notes an opinion of nationally recognized independent counsel, or other independent counsel
reasonably satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms (except as enforcement of such terms may be limited by bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles); 

(c) immediately after giving effect to such transaction: 

(i) no Default or Event of Default would exist, and 

(ii) the Successor Company would be permitted by the provisions of Section 10.8 hereof to incur at least $1.00 of
additional Indebtedness (determined on a pro forma basis based upon EBITDA for the four (4) fiscal quarter period most recently ended for which financial statements have been provided to holders of Notes); and 

(d) each Guarantor confirms in writing its obligations under and pursuant to the Guaranty Agreement; 

provided, however, that no such conveyance, transfer or lease of all or substantially all of the assets of the Company will have the effect of releasing
the Company (or any Successor Company) from its liability under this Agreement or the Notes, or of releasing any Guarantor (or any successor) from its liability under the Guaranty Agreement. 

10.3 Sale of Assets. 

Except as permitted under Section 10.2, the Company will not, and will not permit any of its Subsidiaries to, make any Asset Disposition
unless: 
 (a) in the good faith opinion of the Company, the Asset Disposition is in exchange for consideration having a Fair
Market Value at least equal to that of the property exchanged and is in the best interest of the Company or such Subsidiary; and 

(b) immediately after giving effect to the Asset Disposition, no Default or Event of Default would exist and the Company would
be permitted by the provisions of Section 10.8 hereof to incur at least $1.00 of additional Indebtedness (determined on a 

  
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pro forma basis based upon EBITDA for the four (4) fiscal quarter period most recently ended for which financial statements have been provided to holders of Notes); and 

(c) immediately after giving effect to the Asset Disposition, the Disposition Value of all property that was the subject of any
Asset Disposition occurring during the then current fiscal year of the Company, would not exceed an amount equal to 15% of Consolidated Total Assets determined as of the end of the then most recently ended fiscal year of the Company. 

If the Net Proceeds Amount from any Transfer is applied to a Debt Prepayment Application or a Property Reinvestment Application within 365 days after such
Transfer, then such Transfer, only for the purpose of determining compliance with subsection (c) of this Section 10.3 as of any date, shall be deemed not to be an Asset Disposition as of the date of such application. 

10.4 Line of Business. 

The Company will not and will not permit any Subsidiary to engage in any business if, as a result, the general nature of the business in which
the Company and its Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the business in which the Company and its Subsidiaries, taken as a whole, are engaged on the date of this Agreement
as described in the Memorandum. 
 10.5 Terrorism Sanctions Regulations. 

The Company will not and will not permit any Controlled Entity (a) to become (including by virtue of being owned or controlled by a
Blocked Person), own or control a Blocked Person or any Person that is the target of sanctions imposed by the United Nations or by the European Union, or (b) directly or indirectly to have any investment in or engage in any dealing or
transaction (including, without limitation, any investment, dealing or transaction involving the proceeds of the Notes) with any Person if such investment, dealing or transaction (i) would cause any holder or any Affiliate of such holder to be
in violation of, or subject to sanctions under, any law or regulation applicable to such holder, or (ii) is prohibited by or subject to sanctions under any U.S. Economic Sanctions. 

10.6 Liens. 

The Company will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to exist (upon the happening of a
contingency or otherwise) any Lien on or with respect to any property or asset (including, without limitation, any document or instrument in respect of goods or accounts receivable) of the Company or any such Subsidiary, whether now owned or held or
hereafter acquired, or any income or profits therefrom, except: 
 (a) Permitted Liens; and 

(b) Liens in addition to those permitted by clause (a) of this Section 10.6, provided that at the time of incurrence
of such other Liens and after giving effect thereto, (i) the total amount of Indebtedness secured by Liens pursuant to this clause (b) at no 

  
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time exceeds an amount equal to 15% of Consolidated Net Worth and (ii) the Company is in compliance with the terms of Section 10.9. 

10.7 Minimum Consolidated Net Worth. 

The Company will not permit its Consolidated Net Worth, as of the end of each fiscal quarter, to be less than the sum of
(a) $1,156,000,000 (the “Base Amount”) plus (b) the sum of fifty percent (50%) of Net Income (if positive) for each completed fiscal year beginning with the fiscal year ending September 30, 2018, plus
(c) fifty percent (50%) of the net cash proceeds received by the Company on or after May 31, 2018 from the issuance by the Company of any Capital Stock, other than shares of Capital Stock issued pursuant to employee stock option or
ownership plans; provided, that the effect of adjustments (up to the Maximum Adjustment Amount) in the accumulated other comprehensive earnings accounts of the Company and its Subsidiaries, shall in each case be excluded in the calculation of
Consolidated Net Worth for purposes of this Section 10.7. For purposes of this Section 10.7, “Maximum Adjustment Amount” means 10% of the lesser of (x) the Base Amount and (y) the applicable Base Amount (as
defined in the Revolving Facility) then in effect for purposes of the minimum consolidated net worth covenant set forth in the Revolving Facility. 

10.8 Maximum Leverage Ratio. 

The Company and its consolidated Subsidiaries will not permit the ratio (the “Leverage Ratio”) of (a) (x) at
any time the numerator of the leverage ratio covenant set forth in each Applicable Major Credit Facility is Consolidated Total Net Debt, Consolidated Total Net Debt, or (y) at any other time, Net Indebtedness to (b) EBITDA to be greater
than (x) 4.0 to 1.0 during any Material Acquisition Period or (y) 3.5 to 1.0 at any other time. The Leverage Ratio will be calculated, in each case, determined as of the last day of each fiscal quarter of the Company based upon
(i) for Net Indebtedness or Consolidated Total Net Debt (as applicable), Net Indebtedness or Consolidated Total Net Debt (as applicable) as of the last day of such fiscal quarter; and (ii) for EBITDA, the actual amount for the four
(4) fiscal quarter period ending on such date. 
 10.9 Priority Debt. 

The Company will not at any time permit Priority Debt to exceed 15% of Consolidated Total Assets (determined as of the then most recently ended
fiscal quarter of the Company). 
 10.10 Subsidiary Debt. 

The Company will not at any time permit any Subsidiary to, create, incur, assume, guaranty, permit to exist or otherwise become or remain
directly or indirectly liable with respect to any Indebtedness other than: 
 (a) Indebtedness of a Subsidiary outstanding as
of March 31, 2018 as described on Schedule 5.15 and any extension, renewal or refunding thereof if the principal amount thereof is not increased in connection with such extension, renewal or refunding; 

  
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 (b) Indebtedness of a Subsidiary owed to the Company or a Wholly-Owned
Subsidiary; 
 (c) Guaranties by a Subsidiary of Indebtedness of another Subsidiary that is otherwise permitted under the
terms of this Agreement; 
 (d) Indebtedness evidenced by (i) any Guaranty Agreement (as the same may be supplemented
from time to time by any Guaranty Supplement) or (ii) any Guaranty of any Major Credit Facility so long as such Subsidiary has executed and delivered a Guaranty Agreement and the Company has complied with the provisions of Section 9.8 and
Section 9.9; 
 (e) Indebtedness of a Subsidiary in connection with a Permitted Receivables Securitization program
permitted pursuant to Section 10.11; 
 (f) Indebtedness of a Subsidiary outstanding at the time such Subsidiary becomes
a Subsidiary provided that (i) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary and (ii) immediately after such Subsidiary becomes a Subsidiary no Default or Event of Default shall
exist, and provided, further, that such Indebtedness may not be extended, renewed or refunded except as otherwise permitted by this Agreement; and 

(g) additional Indebtedness of a Subsidiary; provided that on the date the Subsidiary incurs or otherwise becomes liable with
respect to any such additional Indebtedness and immediately after giving effect thereto and to the application of the proceeds thereof, 

(i) no Default or Event of Default shall exist; 

(ii) such Indebtedness can be incurred within the applicable limitations provided in Sections 10.8 and 10.9; and 

(iii) the total amount of all Indebtedness permitted under this Section 10.10(g) at no time exceeds an amount equal to 15%
of Consolidated Total Assets (determined as of the then most recently ended fiscal quarter of the Company). 
 10.11 
Permitted Receivables Securitization Program. 
 The Company will not, and will not permit any Subsidiary to, sell any Securitization
Assets pursuant to a Permitted Receivables Securitization program or otherwise unless (a) immediately before and after giving effect to such sale, no Default or Event of Default exists, (b) after giving effect to such sale, the aggregate
outstanding face amount of Securitization Assets sold by the Company or a Subsidiary pursuant to a Permitted Receivables Securitization program does not exceed $200,000,000 (or its equivalent in other currencies) and (c) immediately after
giving effect to such sale, the Company would be permitted by the provisions of Section 10.8 hereof to incur at least $1.00 of additional Indebtedness (determined on a pro forma basis based upon EBITDA for the four (4) fiscal quarter
period most recently ended for which financial statements have been provided to holders of Notes). 

  
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	11.	EVENTS OF DEFAULT. 

 An “Event of
Default” shall exist if any of the following conditions or events shall occur and be continuing: 
 (a) the Company
defaults in the payment of any principal or Make-Whole Amount, if any, on any Note or any Guarantor defaults in the payment under the Guaranty Agreement when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or
by declaration or otherwise; or 
 (b) the Company defaults in the payment of any interest on any Note for more than five
(5) Business Days after the same becomes due and payable; or 
 (c) the Company defaults in the performance of or
compliance with any term contained in Section 7.1(d) or Section 10; or 
 (d) the Company defaults in the
performance of or compliance with any term contained herein (other than those referred to in Sections 11(a), (b) and (c)) and such default is not remedied within thirty (30) days after the earlier of (i) a Responsible
Officer obtaining actual knowledge of such default and (ii) the Company receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to
this Section 11(d)); or 
 (e)(i) any representation or warranty made in writing by or on behalf of the Company or by
any officer of the Company in this Agreement or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material respect on the date as of which made, or (ii) any
representation or warranty made in writing by or on behalf of any Guarantor or by any officer of such Guarantor in any Guaranty Agreement or any writing furnished in connection with such Guaranty Agreement proves to have been false or incorrect in
any material respect on the date as of which made; or 
 (f)(i) the Company or any Significant Subsidiary is in default (as
principal or as guarantor or other surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness that is outstanding in an aggregate principal amount of at least $60,000,000 beyond any period of grace
provided with respect thereto, or (ii) the Company or any Significant Subsidiary is in default in the performance of or compliance with any Material Covenant of any evidence of any Indebtedness in an aggregate outstanding principal amount of at
least $60,000,000, and as a consequence of such default such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly
scheduled dates of payment, or (iii) the Company or any Significant Subsidiary is in default in the performance of or compliance with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount of at least
$60,000,000 or any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared, due and payable before its stated

  
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maturity or before its regularly scheduled dates of payment, or (iv) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right
of the holder of Indebtedness to convert such Indebtedness into equity interests), (x) the Company or any Significant Subsidiary has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly
scheduled dates of payment in an aggregate outstanding principal amount of at least $60,000,000, or (y) one or more Persons have the right to require the Company or any Significant Subsidiary so to purchase or repay such Indebtedness as a
result of a default in the performance of or compliance with any Material Covenant by the Company or any Significant Subsidiary; or 

(g) the Company or any Significant Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its
debts as they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any
bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer
with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or 

(h) a court or Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company or
any of its Significant Subsidiaries, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for
relief or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or any of its
Significant Subsidiaries, or any such petition shall be filed against the Company or any of its Significant Subsidiaries and such petition shall not be dismissed within sixty (60) days; or 

(i) a final judgment or judgments for the payment of money aggregating in excess of $60,000,000 are rendered against one or
more of the Company and its Significant Subsidiaries (except to the extent covered by independent third party insurance as to which the insurer has acknowledged coverage) and which judgments are not, within sixty (60) days after entry thereof,
bonded, discharged or stayed pending appeal, or are not discharged within sixty (60) days after the expiration of such stay; or 

(j) if (i) any Plan subject to Title IV of ERISA or section 412 of the Code shall fail to satisfy the minimum funding
standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan
subject to Title IV of ERISA shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have
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in writing the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the aggregate “amount of unfunded benefit liabilities” (within the
meaning of section 4001(a)(18) of ERISA) under all Plans (other than Multiemployer Plans) subject to Title IV of ERISA, determined in accordance with Title IV of ERISA, shall exceed $60,000,000, (iv) the aggregate present value of accrued
benefit liabilities under all funded Non-U.S. Plans exceeds the aggregate current value of the assets of such Non-U.S. Plans allocable to such liabilities, (v) the Company or any ERISA Affiliate shall have incurred or is reasonably expected to
incur any liability for the failure to comply with the provisions of Title I of ERISA or pursuant to Title IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (vi) the Company or any ERISA
Affiliate withdraws from any Multiemployer Plan, or (vii) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the
Company or any Subsidiary thereunder, (viii) the Company or any Subsidiary fails to administer or maintain a Non-U.S. Plan in compliance with the requirements of any and all applicable laws, statutes, rules, regulations or court orders or any
Non-U.S. Plan is involuntarily terminated or wound up, or (ix) the Company or any Subsidiary becomes subject to the imposition of a financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by way of
indemnity or otherwise) with respect to one or more Non-U.S. Plans; and any such event or events described in clauses (i) through (ix) above, either individually or together with any other such event or events, could reasonably be expected
to have a Material Adverse Effect; or 
 (k)(i) a default shall occur under the Guaranty Agreement and such default shall
continue beyond the period of grace, if any, allowed with respect thereto or (ii) except as expressly permitted under Section 9.8(b), the Guaranty Agreement shall cease to be in full force and effect for any reason whatsoever with respect
to one or more Guarantors, including, without limitation, a determination by any Governmental Authority or court that such agreement is invalid, void or unenforceable with respect to one or more Guarantors or any Guarantor shall contest or deny in
writing the validity or enforceability of any of its obligations under the Guaranty Agreement. 
 As used in Section 11(j), the terms “employee
benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in section 3 of ERISA. 
  

	12.	REMEDIES ON DEFAULT, ETC. 

 12.1 
Acceleration. 
 (a) If an Event of Default with respect to the Company or any Guarantor described in
Section 11(g) or (h) (other than an Event of Default described in clause (i) of Section 11(g) or described in clause (vi) of Section 11(g) by virtue of the fact that such clause encompasses clause (i) of
Section 11(g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable. 

  
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 (b) If any other Event of Default has occurred and is continuing, the Required
Holders may at any time at their option, by notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable. 

(c) If any Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or holders
of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith mature
and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the applicable Default Rate upon the occurrence and during the continuance of an
Event of Default) and (y) the applicable Make-Whole Amount, if any, determined in respect of such principal amount (to the full extent permitted by applicable law), as applicable, shall all be immediately due and payable, in each and every case
without presentment, demand, protest or further notice, all of which are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by
the Company (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount, if any, by the Company if the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide
compensation for the deprivation of such right under such circumstances. 
 12.2 Other Remedies. 

If any Default or Event of Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared
immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note or Guaranty Agreement, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law
or otherwise. 
 12.3 Rescission. 

At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders, by written notice
to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid
other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the applicable Default Rate,
(b) neither the Company nor any other Person shall have paid any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by
reason of such declaration, have been cured or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under
this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 

  
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 12.4 No Waivers or Election of Remedies, Expenses, etc.

 No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a
waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement, the Guaranty Agreement or by any Note upon any holder thereof shall be exclusive of any other right, power or
remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under Section 15, the Company will pay to the holder of each Note on demand such
further amount as shall be sufficient to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements.

  

	13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

13.1 Registration of Notes. 

The Company shall keep at its principal executive office a register for the registration and registration of transfers of Notes. The name and
address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. If any holder of one or more Notes is a nominee, then (a) the name and
address of the beneficial owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such beneficial owner’s option, either such beneficial owner or its nominee may execute any
amendment, waiver or consent pursuant to this Agreement. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes
hereof, and the Company shall not be affected by any notice or knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and
addresses of all registered holders of Notes. 
 13.2 Transfer and Exchange of Notes. 

Upon surrender of any Note to the Company at the address and to the attention of the designated officer (all as specified in
Section 18(iii)), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s
attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within ten Business Days thereafter, the Company shall execute and deliver, at the
Company’s expense (except as provided below), one or more new Notes of the same Series (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note.
Each such new Note shall be payable to such Person as such holder may request and, in the case of a Series P Note shall be substantially in the form of Exhibit 1(a), in the case of a Series Q 

  
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Note shall be substantially in the form of Exhibit 1(b), in the case of a Series R Note shall be substantially in the form of Exhibit 1(c), in the case of a Series S Note shall be
substantially in the form of Exhibit 1(d), and in the case of a Series T Note shall be substantially in the form of Exhibit 1(e). Each such new Note shall be dated and bear interest from the date to which interest shall have been paid
on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer
of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes of a Series, one Note of such Series may be in a
denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.3. 

The Notes have not been registered under the Securities Act or under the securities laws of any state and may not be transferred or resold
unless registered under the Securities Act and all applicable state securities laws or unless an exemption from the requirement for such registration is available. 

13.3 Replacement of Notes. 

Upon receipt by the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) of
evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and
such loss, theft, destruction or mutilation), and 
 (a) in the case of loss, theft or destruction, of indemnity reasonably
satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $50,000,000 or a Qualified Institutional Buyer, such Person’s own
unsecured agreement of indemnity shall be deemed to be satisfactory), or 
 (b) in the case of mutilation, upon surrender and
cancellation thereof, 
 within fifteen (15) Business Days thereafter, the Company at its own expense shall execute and deliver, in lieu thereof, a new
Note of the same Series, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have
been paid thereon. 
  

	14.	PAYMENTS ON NOTES. 

 14.1 
Place of Payment. 
 Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and
payable on the Notes shall be made in New York, New York at the principal office of Bank of America, N.A. in such jurisdiction. The Company may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such
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payment shall be either the principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 

14.2 Home Office Payment. 

So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such
Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and at the address specified for such purpose below such Purchaser’s name in Schedule A, or by
such other commercially reasonable method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation
thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such
request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such
Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to
Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement
relating to such Note as the Purchasers have made in this Section 14.2. 
 14.3 FATCA Information.

 By acceptance of any Note, the holder of such Note agrees that such holder will with reasonable promptness duly complete and deliver
to the Company, or to such other Person as may be reasonably requested by the Company, from time to time (a) in the case of any such holder that is a United States Person, such holder’s United States tax identification number or other
Forms reasonably requested by the Company necessary to establish such holder’s status as a United States Person under FATCA and as may otherwise be necessary for the Company to comply with its obligations under FATCA and (b) in the case of
any such holder that is not a United States Person, such documentation prescribed by applicable law (including as prescribed by section 1471(b)(3)(C)(i) of the Code) and such additional documentation as may be necessary for the Company to comply
with its obligations under FATCA and to determine that such holder has complied with such holder’s obligations under FATCA or to determine the amount (if any) to deduct and withhold from any such payment made to such holder. Nothing in this
Section 14.3 shall require any holder to provide information that is confidential or proprietary to such holder unless the Company is required to obtain such information under FATCA and, in such event, the Company shall treat any such
information it receives as confidential 
  

	15.	EXPENSES, ETC. 

 15.1 
Transaction Expenses. 
 Whether or not the transactions contemplated hereby are consummated, the Company will pay all costs and
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reasonably required by the Required Holders, local or other counsel) incurred by the Purchasers and each other holder of a Note in connection with such transactions and in connection with any
amendments, waivers or consents under or in respect of this Agreement, the Guaranty Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without limitation: (a) the costs and expenses incurred
in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement, the Guaranty Agreement or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in
connection with this Agreement, the Guaranty Agreement or the Notes, or by reason of being a holder of any Note, (b) the costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of
the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby, by the Guaranty Agreement and by the Notes and (c) the costs and expenses incurred in connection with the initial filing
of this Agreement and all related documents and financial information with the SVO, provided that such costs and expenses under this clause (c) shall not exceed $8,000. 

The Company will pay, and will save each Purchaser and each other holder of a Note harmless from, (i) all claims in respect of any fees,
costs or expenses, if any, of brokers and finders (other than those, if any, retained by a Purchaser or other holder in connection with its purchase of the Notes), (ii) any and all wire transfer fees that any bank or other financial institution
deducts from any payment under such Note to such holder or otherwise charges to a holder of a Note with respect to a payment under such Note and (iii) any judgment, liability, claim, order, decree, fine, penalty, cost, fee, expense (including
reasonable attorneys’ fees and expenses) or obligation resulting from the consummation of the transactions contemplated hereby, including the use of the proceeds of the Notes by the Company. 

15.2 Certain Taxes. 

The Company agrees to pay all stamp, documentary or similar taxes or fees which may be payable in respect of the execution and delivery or the
enforcement of this Agreement or the Guaranty Agreement or the execution and delivery (but not the transfer) or the enforcement of any of the Notes in the United States or any other jurisdiction where the Company or any Subsidiary Guarantor has
assets or of any amendment of, or waiver or consent under or with respect to, this Agreement or the Guaranty Agreement or of any of the Notes, and to pay any value added tax due and payable in respect of reimbursement of costs and expenses by the
Company pursuant to this Section 15, and will save each holder of a Note to the extent permitted by applicable law harmless against any loss or liability resulting from nonpayment or delay in payment of any such tax or fee required to be paid
by the Company hereunder 
 15.3 Survival. 

The obligations of the Company under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or
waiver of any provision of this Agreement, the Guaranty Agreement or the Notes, and the termination of this Agreement or the Guaranty Agreement. 

  
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	16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or
transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser
or any other holder of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of the Company or any Guarantor pursuant to this Agreement or the Guaranty Agreement shall be deemed representations and
warranties of the Company or such Guarantor under this Agreement or the Guaranty Agreement, as applicable. Subject to the preceding sentence, this Agreement, the Notes and the Guaranty Agreement embody the entire agreement and understanding between
each Purchaser, the Company and the Guarantors and supersede all prior agreements and understandings relating to the subject matter hereof. 
  

	17.	AMENDMENT AND WAIVER. 

 17.1 
Requirements. 
 This Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may be waived
(either retroactively or prospectively), with (and only with) the written consent of the Company and the Required Holders, except that (a) no amendment or waiver of any of the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any
defined term (as it is used therein), will be effective as to any Purchaser unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without the written consent of the holder of each Note at the time
outstanding affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or
method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any amendment or waiver or the principal amount of the
Notes that the Purchasers are to purchase pursuant to Section 2 upon the satisfaction of the conditions to Closing that appear in Section 4, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20. No Guarantor may be
released from the Guaranty Agreement without the written consent of the holder of each Note at the time outstanding (other than in compliance with Section 9.8(b)). For purposes of Section 10 of the Intercreditor Agreement, the Required
Holders shall constitute the requisite number of holders of Notes required under this Agreement to approve an amendment to or waiver of any provision of the Intercreditor Agreement or to consent to a departure by any Lender (as defined in the
Intercreditor Agreement) therefrom. For purposes of Section 16 of the Intercreditor Agreement, (x) each of the holders of the Notes shall constitute the requisite parties under this Agreement to whom a Joinder Agreement (as defined in the
Intercreditor Agreement) shall be executed and delivered by any New Creditor (as defined in the Intercreditor Agreement) and (y) with respect to the proviso to the first sentence of such Section 16, if any default, event of default or
event of termination has occurred and is continuing under any of the Revolving Credit Agreement, the 2008 Note Agreement, the 2009 Note Agreement or any other applicable Financing Agreement (each such term as defined in the Intercreditor Agreement),
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the requisite number of holders of Notes required under this Agreement to approve the addition of any other New Creditor (as defined in the Intercreditor Agreement). 

17.2 Solicitation of Holders of Notes. 

(a) Solicitation. The Company will provide each holder of a Note (irrespective of the amount of the Notes then owned by
it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the
provisions hereof or of the Notes or the Guaranty Agreement. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to this Section 17 or the Guaranty Agreement to each holder of a
Note promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 

(b) Payment. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of
supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of a Note as consideration for or as an inducement to the entering into by such holder of any waiver or amendment of any of
the terms and provisions hereof or of any the Guaranty Agreement or any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder
of a Note even if such holder did not consent to such waiver or amendment. 
 (c) Consent in Contemplation of
Transfer. Any consent given pursuant to this Section 17 or the Guaranty Agreement by a holder of a Note that has transferred or has agreed to transfer its Note to (i) the Company, (ii) any Subsidiary or any Affiliate or
(iii) any other Person in connection with, or in anticipation of, such other Person acquiring, making a tender offer for or merging with the Company and/or any of its Affiliates, in each case in connection with such consent, shall be void and
of no force or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other
holders of Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such holder. 

17.3 Binding Effect, etc. 

Any amendment or waiver consented to as provided in this Section 17 or the Guaranty Agreement applies equally to all holders of Notes and
is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any obligation,
covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and any holder of a Note and no delay in exercising any rights hereunder or under any
Note or the Guaranty Agreement shall operate as a waiver of any rights of any holder of such Note. As used 

  
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herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time be amended or supplemented. 

17.4 Notes Held by Company, etc. 

Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then
outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement, the Guaranty Agreement or the Notes, or have directed the taking of any action provided herein or in the Guaranty Agreement or the Notes to be
taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding. 

 

	18.	NOTICES. 

 All notices and communications
provided for hereunder shall be in writing and sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail
with return receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with charges prepaid). Any such notice must be sent: 

(i) if to any Purchaser or its nominee, to such Purchaser or nominee at the address specified for such communications in
Schedule A, or at such other address as such Purchaser or nominee shall have specified to the Company in writing, 

(ii) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the
Company in writing, or 
 (iii) if to the Company, to the Company at its address set forth at the beginning hereof to the
attention of the Chief Financial Officer, or at such other address as the Company shall have specified to the holder of each Note in writing. 
 Notices
under this Section 18 will be deemed given only when actually received. 
  

	19.	REPRODUCTION OF DOCUMENTS. 

 This Agreement and
all documents relating hereto, including, without limitation, (a) consents, waivers and modifications that may hereafter be executed, (b) documents received by any Purchaser at the Closing (except the Notes themselves), and
(c) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such
Purchaser may destroy any original document so reproduced. The Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or
administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction
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Section 19 shall not prohibit the Company or any other holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing
evidence to demonstrate the inaccuracy of any such reproduction. 
  

	20.	CONFIDENTIAL INFORMATION. 

 For the purposes of
this Section 20, “Confidential Information” means information delivered to any Purchaser or any holder of a Note by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise
pursuant to this Agreement that is proprietary in nature and that was clearly marked or labeled or otherwise adequately identified when received by such Purchaser as being confidential information of the Company or such Subsidiary, provided that
such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such Purchaser or any
Person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes financial statements delivered to such Purchaser under
Section 7.1 that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential information of
third parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys, trustees and affiliates (to the extent such disclosure
reasonably relates to the administration of the investment represented by its Notes), (ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with the
terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior
to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any Security of the Company (if such Person has agreed in writing prior to its receipt of
such Confidential Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar
organization, or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate
(w) to effect compliance with any law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or
(z) if an Event of Default has occurred and is continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies
under such Purchaser’s Notes, this Agreement or the Guaranty Agreement. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it
were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder
that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this Section 20. 

  
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 In the event that as a condition to receiving access to information relating to the Company or
its Subsidiaries in connection with the transactions contemplated by or otherwise pursuant to this Agreement, any Purchaser or holder of a Note is required to agree to a confidentiality undertaking (whether through IntraLinks, another secure
website, a secure virtual workspace or otherwise) which is different from this Section 20, this Section 20 shall not be amended thereby and, as between such Purchaser or such holder and the Company, at the time of effectiveness of this
Agreement, this Section 20 shall supersede any such other confidentiality undertaking, but only to the extent such undertakings are inconsistent. 
  

	21.	SUBSTITUTION OF PURCHASER. 

 Each Purchaser
shall have the right to substitute any one of its Affiliates as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which notice shall be signed by both such Purchaser and such Affiliate, shall
contain such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any
reference to such Purchaser in this Agreement (other than in this Section 21), shall be deemed to refer to such Affiliate in lieu of such original Purchaser. In the event that such Affiliate is so substituted as a Purchaser hereunder and such
Affiliate thereafter transfers to such original Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement (other than
in this Section 21), shall no longer be deemed to refer to such Affiliate, but shall refer to such original Purchaser, and such original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement. 

 

	22.	MISCELLANEOUS. 

 22.1 
Successors and Assigns. 
 All covenants and other agreements contained in this Agreement by or on behalf of any of the parties
hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not, except that the Company may not assign or otherwise transfer any of its
rights or obligations hereunder or under the Notes without the prior written consent of each holder (other than in connection with any transfer permitted under Section 10.2). Nothing in this Agreement, expressed or implied, shall be construed
to confer upon any Person (other than the parties hereto and their respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

22.2 Payments Due on Non-Business Days. 

Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.6 that the
notice of any prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding
Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date of any 

  
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Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the
computation of interest payable on such next succeeding Business Day. 
 22.3 Accounting Terms. 

(a) All accounting terms used herein which are not expressly defined in this Agreement have the meanings respectively given to
them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and (ii) all financial statements shall be prepared in accordance
with GAAP. For purposes of determining compliance with this Agreement (including, without limitation, Section 9, Section 10 and the definition of “Indebtedness”), any election by the Company to measure any financial liability
using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification Topic No. 825-10-25 – Fair Value Option, International Accounting Standard 39 – Financial Instruments: Recognition and
Measurement or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made. 

(b) If the Company notifies the holders of Notes that, in the Company’s reasonable opinion, or if the Required Holders
notify the Company that, in the Required Holders’ reasonable opinion, as a result of changes in GAAP from time to time (“Subsequent Changes”), any of the covenants contained in Sections 10.6 through 10.10, or any of the defined
terms used therein no longer apply as intended such that such covenants are materially more or less restrictive to the Company than are such covenants immediately prior to giving effect to such Subsequent Changes, the Company and the holders of
Notes shall negotiate in good faith to reset or amend such covenants or defined terms so as to negate such Subsequent Changes, or to establish alternative covenants or defined terms. Until the Company and the Required Holders so expressly agree to
reset, amend or establish alternative covenants or defined terms, the covenants contained in Sections 10.6 through 10.10, together with the relevant defined terms, shall continue to apply and compliance therewith shall be determined assuming that
the Subsequent Changes shall not have occurred (“Static GAAP”). During any period that compliance with any covenants shall be determined pursuant to Static GAAP, the Company shall include relevant reconciliations in reasonable
detail between GAAP and Static GAAP with respect to the applicable covenant compliance calculations contained in each certificate of a Senior Financial Officer delivered pursuant to Section 7.2(a) during such period. 

22.4 Severability. 

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable
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 22.5 Construction, etc. 

Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant
contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which
such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

Defined 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) and, for purposes
of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 13, (b) subject to Section 22.1, 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 Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to
such law or regulation as amended, modified or supplemented from time to time. 
 22.6 Counterparts.

 This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall
constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 

22.7 Governing Law. 

This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of
New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

22.8 Jurisdiction and Process; Waiver of Jury Trial. 

(a) The Company irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the
Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement or the Notes. To the fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to assert, by
way of motion, as a defense or otherwise, any claim 

  
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that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such
court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

(b) The Company agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or
proceeding of the nature referred to in Section 22.8(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States of America or the
State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) The Company consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of
the nature referred to in Section 22.8(a) by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified in Section 18 or at
such other address of which such holder shall then have been notified pursuant to said Section. The Company agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action
or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a
delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 
 (d) Nothing
in this Section 22.8 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Company in the courts of any
appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction. 

(e) The parties hereto hereby waive trial by jury in any action brought on or with respect to this Agreement, the Guaranty
Agreement the Notes or any other document executed in connection herewith or therewith. 
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Next page is signature page.] 

  
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 If you are in agreement with the foregoing, please sign the form of agreement on a counterpart of
this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Company. 
  

					
	Very truly yours,
	
	WOODWARD, INC.
		
	By	 	/s/ Robert F. Weber, Jr.
		 	Name:	 	Robert F. Weber, Jr.
		 	Title:	 	 Vice Chairman, Chief Financial Officer
 and
Treasurer

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 This Agreement is hereby 

accepted and agreed to as 
 of the date thereof. 

METLIFE INSURANCE K.K. 
 By: MetLife Investment Advisors,
LLC, Its Investment Manager 
 METROPOLITAN LIFE INSURANCE COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 

METROPOLITAN TOWER LIFE INSURANCE COMPANY 
 By: MetLife
Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ John A. Wills
	Name:	 	John A. Wills
	Title:	 	SVP Managing Director

 BRIGHTHOUSE LIFE INSURANCE COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	 Title:
  
	 	Managing Director

 UNION FIDELITY LIFE INSURANCE COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	Title:	 	Managing Director

 ZURICH AMERICAN INSURANCE COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	Title:	 	Managing Director

  
 [Signature Page to 2018
Note Purchase Agreement – Woodward] 

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 PENSION AND SAVINGS COMMITTEE, 

ON BEHALF OF THE ZURICH AMERICAN 
 INSURANCE COMPANY
MASTER RETIREMENT TRUST 
 By: MetLife Investment Advisors, LLC, Its Investment Manager 

 

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	Title:	 	Managing Director

 RSUI INDEMNITY COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	 Title:
  
	 	Managing Director

 TRANSATLANTIC REINSURANCE COMPANY 

By: MetLife Investment Advisors, LLC, Its Investment Manager 
  

			
	By:	 	/s/ Frank O. Monfalcone
	Name:	 	Frank O. Monfalcone
	Title:	 	Managing Director

  
 [Signature Page to 2018
Note Purchase Agreement – Woodward] 

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 TEACHERS INSURANCE AND ANNUITY 

ASSOCIATION OF AMERICA 
 By: Nuveen Alternatives Advisors
LLC, 
       its Investment Manager 
  

			
	By:	 	/s/ Jeffrey J. Hughes
	Name:	 	Jeffrey J. Hughes
	Title:	 	Director

  
 [Signature Page to 2018
Note Purchase Agreement – Woodward] 

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 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY 

By: Barings LLC as Investment Adviser 
  

			
	By:	 	/s/ Mark B. Ackerman
	Name:	 	Mark B. Ackerman
	Title:	 	Managing Director

 MASSMUTUAL ASIA LIMITED 

By: Barings LLC as Investment Adviser 
  

			
	By:	 	/s/ Mark B. Ackerman
	Name:	 	Mark B. Ackerman
	Title:	 	Managing Director

 BANNER LIFE INSURANCE COMPANY 

By: Barings LLC as Investment Adviser 
  

			
	By:	 	/s/ Mark B. Ackerman
	Name:	 	Mark B. Ackerman
	Title:	 	Managing Director

 MUFG FUND SERVICES (CAYMAN) LIMITED, acting solely 

in its capacity as trustee of Bright – I Fund, a sub-fund of global Private 

Credit Umbrella Unit Trust* 
 By: Barings LLC as Investment
Adviser 
  

			
	By:	 	/s/ Steven J. Katz
	Name:	 	Steven J. Katz
	Title:	 	Managing Director & Senior Counsel

  

	*	Trustee’s obligation in such capacity will be solely the obligations of the Trustee acting on behalf of Bright – I Fund, and that no creditor will have any recourse against any of the Trustee, (or any of its
directors, officer or employees) for any claims, losses, damages, liabilities, indemnities or other obligations whatsoever in connection with actions taken by the Trustee, with any recourse to the Trustee limited to the assets of Bright – I
Fund 

  
 [Signature Page to 2018
Note Purchase Agreement – Woodward] 

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 PRINCIPAL LIFE INSURANCE COMPANY 

By: Principal Global Investors, LLC, 
  a
Delaware limited liability company, 
  its authorized signatory 

 

			
	By:	 	/s/ Alan P. Kress
	Name:	 	Alan P. Kress
	Title:	 	Counsel
		
	By:	 	/s/ Christopher Henderson
	Name:	 	Christopher Henderson
	Title:	 	Vice President and Associate General Counsel

  
 [Signature Page to 2018
Note Purchase Agreement – Woodward] 

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 THE GIBRALTAR LIFE INSURANCE CO., LTD. 

 

			
	By:	 	Prudential Investment management Japan
		 	Co., Ltd., as Investment Manager

 By: PGIM, Inc. as Sub-Adviser 

 

			
	By:	 	 /s/ David Levine

		 	Vice President

 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 
  

			
	By:	 	 /s/ David Levine

		 	Vice President

 AMERICAN INCOME LIFE INSURANCE COMPANY 

By: Prudential Private Placement Investors, L.P. (as Investment Advisor) 

By: Prudential Private Placement Investors, Inc. (as its General Partner) 
  

			
	By:	 	 /s/ David Levine

		 	Vice President

 FAMILY HERITAGE LIFE INSURANCE COMPANY OF AMERICA 

By: Prudential Private Placement Investors, L.P. (as Investment Advisor) 

By: Prudential Private Placement Investors, Inc. (as its General Partner) 
  

			
	By:	 	 /s/ David Levine

		 	Vice President

 GLOBE LIFE AND ACCIDENT INSURANCE COMPANY 

By: Prudential Private Placement Investors, L.P. (as Investment Advisor) 

By: Prudential Private Placement Investors, Inc. (as its General Partner) 
  

			
	By:	 	 /s/ David Levine

		 	Vice President

  
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 LIBERTY NATIONAL LIFE INSURANCE COMPANY 

By: Prudential Private Placement Investors, L.P. (as Investment Advisor) 

By: Prudential Private Placement Investors, Inc. (as its General Partner) 
  

			
	By:	 	 /s/ David Levine

		 	Vice President

  
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 AXA EQUITABLE LIFE INSURANCE COMPANY 

 

			
	By:	 	/s/ Amy Judd
	Name:	 	Amy Judd
	Title:	 	Investment Officer

  
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 AB US DIVERSIFIED CREDIT BM FUND 

By: Alliance Bernstein LP, its Investment Advisor 
  

			
	By:	 	/s/ Amy Judd
	Name:	 	Amy Judd
	Title:	 	Senior Vice President

  
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 NEW YORK LIFE INSURANCE COMPANY 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	Corporate Vice President

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

By: NYL Investors LLC, its Investment Manager 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	 Senior Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3) 

By: NYL Investors LLC, its Investment Manager 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	 Senior Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2) 

By: NYL Investors LLC, its Investment Manager 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	 Senior Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C) 

By: NYL Investors LLC, its Investment Manager 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	 Senior Director

  
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 THE BANK OF NEW YORK MELLON, A BANKING CORPORATION ORGANIZED UNDER THE LAWS OF NEW YORK, NOT IN ITS INDIVIDUAL
CAPACITY BUT SOLELY AS TRUSTEE UNDER THAT CERTAIN TRUST AGREEMENT DATED AS OF JULY 1ST, 2015 BETWEEN NEW YORK LIFE INSURANCE COMPOANY, AS GRANTOR, JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.), AS
BENEFICIARY, JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK, AS BENEFIFICIARY, AND THE BANK OF NEW YORK MELLON, AS TRUSTEE 
 By: New York Life
Insurance Company, its attorney-in-fact 
  

			
	By:	 	/s/ Sean Campbell
	Name:	 	Sean Campbell
	Title:	 	Corporate Vice President

  
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 VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY 

RELIASTAR LIFE INSURANCE COMPANY 
 RELIASTAR LIFE
INSURANCE COMPANY OF NEW YORK 
 By: Voya Investment Management LLC, as Agent 

			
		
	By:	 	/s/ Joshua A. Winchester
	Name:	 	Joshua A. Winchester
	Title:	 	Vice President

 ALLIANCE UNITED INSURANCE COMPANY 

TRINITY UNIVERSAL INSURANCE COMPANY 
 By: Voya Investment
Management LLC, as Agent 

			
		
	By:	 	 /s/ Joshua A. Winchester

	Name:	 	 Joshua A. Winchester

	Title:	 	Vice President

  
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 STATE FARM LIFE INSURANCE COMPANY 

			
		
	By:	 	 /s/ Julie Hoyer

	Name:	 	 Julie Hoyer

	Title:	 	Investment Executive

  

			
	By:	 	 /s/ Jeffrey Attwood

	Name:	 	 Jeffrey Attwood

	Title:	 	Investment Professional

 STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY 

			
		
	By:	 	 /s/ Julie Hoyer

	Name:	 	 Julie Hoyer

	Title:	 	Investment Executive

  

			
	By:	 	 /s/ Jeffrey Attwood

	Name:	 	 Jeffrey Attwood

	Title:	 	Investment Professional

  
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 CONNECTICUT GENERAL LIFE INSURANCE COMPANY 

By: CIGNA Investments, Inc. (authorized agent) 

			
		
	By:	 	 /s/ Leonard Mazlish

	Name:	 	 Leonard Mazlish

	Title:	 	 Managing Director

LIFE INSURANCE COMPANY OF NORTH AMERICA 

By: CIGNA Investments, Inc. (authorized agent) 

			
		
	By:	 	 /s/ Leonard Mazlish

	Name:	 	 Leonard Mazlish

	Title:	 	 Managing Director

CIGNA LIFE INSURANCE COMPANY OF NEW YORK 

By: CIGNA Investments, Inc. (authorized agent) 

			
		
	By:	 	 /s/ Leonard Mazlish

	Name:	 	 Leonard Mazlish

	Title:	 	 Managing Director

CIGNA HEALTH AND LIFE INSURANCE COMPANY 

By: CIGNA Investments, Inc. (authorized agent) 

			
		
	By:	 	 /s/ Leonard Mazlish

	Name:	 	 Leonard Mazlish

	Title:	 	 Managing Director

  
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 HARTFORD LIFE AND ANNUITY INSURANCE COMPANY 

HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY 
 HARTFORD
ACCIDENT AND INDEMNITY COMPANY 
  

			
	By:	 	 Hartford Investment Management Company

		 	 Their Agent and Attorney-in-Fact

			
		
	By:	 	 /s/ Dawn Bruneau

	Name:	 	 Dawn Bruneau

	Title:	 	 Vice President

  
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 AMERICAN EQUITY INVESTMENT LIFE 

INSURANCE COMPANY 

			
		
	By:	 	/s/ Jeffrey A. Fossell
	Name:	 	Jeffrey A. Fossell
	Title:	 	Authorized Signatory

 EAGLE LIFE INSURANCE COMPANY 

			
		
	By:	 	/s/ Jeffrey A. Fossell
	Name:	 	Jeffrey A. Fossell
	Title:	 	Authorized Signatory

  
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 GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY 

			
		
	By:	 	/s/ Eve Hampton Darrow
	 Name:
	 	Eve Hampton Darrow
	Title:	 	Vice President, Investments

  
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 MODERN WOODMEN OF AMERICA 

			
		
	By:	 	/s/ Douglas A. Pannier
	Name:	 	Douglas A. Pannier
	Title:	 	Group Head – Private Placements

  
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 WESTERN-SOUTHERN LIFE ASSURANCE COMPANY 

			
		
	By:	 	/s/ Daniel R. Larsen
	Name:	 	Daniel R. Larsen
	Title:	 	Vice President
		
	By:	 	/s/ Jeffrey L. Stainton
	Name:	 	Jeffrey L. Stainton
	Title:	 	Vice President

  
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 UNITED OF OMAHA LIFE INSURANCE COMPANY 

			
		
	By:	 	/s/ Lee Martin
	Name:	 	Lee Martin
	Title:	 	Vice President

 MUTUAL OF OMAHA INSURANCE COMPANY 

			
		
	By:	 	/s/ Lee Martin
	Name:	 	Lee Martin
	Title:	 	Vice President

  
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 AMERITAS LIFE INSURANCE CORP. 

AMERITAS LIFE INSURANCE CORP. OF NEW YORK 
 By: Ameritas
Investment Partners, Inc. as Agent 

			
		
	By:	 	/s/ Tina Udell
	Name:	 	Tina Udell
	Title:	 	Vice President and Managing Director

  
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 THE OHIO NATIONAL LIFE INSURANCE COMPANY 

			
		
	By:	 	/s/ Annette M. Teders
	Name:	 	Annette M. Teders
	Title:	 	Vice President

 OHIO NATIONAL LIFE ASSURANCE CORPORATEION 

			
		
	By:	 	/s/ Annette M. Teders
	Name:	 	Annette M. Teders
	Title:	 	Vice President

  
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 SCHEDULE A 

INFORMATION AS TO PURCHASERS 

[Purchaser schedules to be inserted] 

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 Schedule B 

DEFINED TERMS 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Acquisition” means any transaction, or any series of related transactions, consummated on or after the date of this
Agreement, by which the Company or any of its Subsidiaries (other than transactions involving solely the Company and its Subsidiaries) (a) acquires all or substantially all of the assets of any firm, corporation, limited liability company or
division thereof, whether through purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the
Capital Stock of an entity which have ordinary voting power for the election of directors (other than securities having such power only by reason of the happening of a contingency) or a majority (by percentage of voting power) of the outstanding
Equity Interests of another Person. 
 “Affiliate” means, at any time, and with respect to any Person, any
other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and, with respect to the Company, shall include (a) any Person
beneficially owning or holding, directly or indirectly, (i) 10% or more of any class of voting interests of the Company or any Subsidiary or (ii) non-voting equity interests of the Company or any Subsidiary if such Person’s non-voting
equity interests in the Company or such Subsidiary comprise at least 10% of Consolidated Net Worth, and (b) any Person of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, (i) 10% or
more of any class of voting interests, or (ii) non-voting equity interests if the Company or such Subsidiary’s non-voting equity interests in such Person comprise at least 10% of the stockholders’ equity of such Person and its
subsidiaries determined on a consolidated basis in accordance with GAAP. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company. 

“Agreement” means this Note Purchase Agreement, including all Schedules and Exhibits attached hereto. 

“Anti-Corruption Laws” is defined in Section 5.16(d). 

“Anti-Money Laundering Laws” is defined in Section 5.16(c). 

“Applicable Major Credit Facility” means a Major Credit Facility in respect of which the Company or any Guarantor is
an obligor or otherwise provides a guarantee or other credit support. 
 “Applicable Rate” means: 

(a) with respect to any Series P Note, (i) 5.02% per annum during any fiscal quarter following a fiscal quarter on
the last day of which the Leverage Ratio is greater than 3.5 to 1.0 and (ii) 4.27% per annum at all other times, 

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 (b) with respect to any Series Q Note, (i) 5.10% per annum during any
fiscal quarter following a fiscal quarter on the last day of which the Leverage Ratio is greater than 3.5 to 1.0 and (ii) 4.35% per annum at all other times, 

(c) with respect to any Series R Note, (i) 5.16% per annum during any fiscal quarter following a fiscal quarter on
the last day of which the Leverage Ratio is greater than 3.5 to 1.0 and (ii) 4.41% per annum at all other times, 

(d) with respect to any Series S Note, (i) 5.21% per annum during any fiscal quarter following a fiscal quarter on
the last day of which the Leverage Ratio is greater than 3.5 to 1.0 and (ii) 4.46% per annum at all other times, and 

(e) with respect to any Series T Note, (i) 5.36% per annum during any fiscal quarter following a fiscal quarter on
the last day of which the Leverage Ratio is greater than 3.5 to 1.0 and (ii) 4.61% per annum at all other times. 

“Asset Disposition” means any Transfer except: 

(a) any Transfer that is: 

(i) from a Subsidiary to the Company or another Subsidiary, and 

(ii) from the Company to a Subsidiary, 

in each case so long as immediately before and immediately after the consummation of any such Transfer and after giving effect thereto, no
Default or Event of Default exists; 
 (b) any Transfer made in the ordinary course of business and involving only property
that is either (i) inventory held for sale or (ii) equipment, fixtures, supplies or materials no longer required in the operation of the business of the Company or any of its Subsidiaries or that is obsolete, damaged, or worn-out; and 

(c) any Transfer made pursuant to a Permitted Receivables Securitization permitted pursuant to Section 10.11. 

“Blocked Person” is defined in Section 5.16(a). 

“Business Day” means (a) for the purposes of Section 8.8 only, any day other than a Saturday, a Sunday or a
day on which commercial banks in New York, New York are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which commercial banks in New
York, New York or Chicago, Illinois are required or authorized to be closed. 
 “Capital Lease” means, at any
time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 

  
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 “Capital Lease Obligations” of a Person means the amount of the
obligations of such Person under Capital Leases which would be capitalized on a balance sheet of such Person prepared in accordance with GAAP. 

“Capital Stock” means (a) in the case of a corporation, corporate stock, (b) in the case of an association
or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) evidencing ownership thereof, (c) in the case of a limited liability company, membership interests, (d) in the case of a
partnership, partnership interests (whether general or limited) and (e) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person;
provided, however, that “Capital Stock” shall not include any debt securities convertible into equity securities prior to such conversion. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the government
of the United States of America and backed by the full faith and credit of the United States government; (b) domestic and Eurocurrency certificates of deposit and time deposits, bankers’ acceptances and floating rate certificates of
deposit issued by any commercial bank organized under the laws of the United States, any state thereof, the District of Columbia, any foreign bank, or its branches or agencies, the long-term indebtedness of which institution at the time of
acquisition is rated BBB (or better) by S&P or Fitch or Baa (or better) by Moody’s), and which certificates of deposit and time deposits are fully protected against currency fluctuations for any such deposits with a term of more than ninety
(90) days; (c) shares of money market, mutual or similar funds having assets in excess of $100,000,000 and the investments of which are limited to investment grade securities (i.e., securities rated BBB (or better) by S&P or Fitch or
Baa (or better) by Moody’s); and (d) commercial paper of United States of America and foreign banks and bank holding companies and their subsidiaries and United States and foreign finance, commercial, industrial or utility companies which,
at the time of acquisition, are rated A-2 (or better) by S&P, P-2 (or better) by Moody’s, or F-2 (or better) by Fitch; provided that the maturities of such Cash Equivalents (other than as described in clause
(c) above) shall not exceed three hundred sixty-five (365) days from the date of acquisition thereof. 

“Change of Control” shall be deemed to have occurred if any person (as such term is used in Section 13(d) and
Section 14(d)(2) of the Exchange Act as in effect on the date hereof) or persons constituting a group (as such term is used in Rule 13d-5 under the Exchange Act), become the “beneficial owners” (as such term is used in Rule 13d-3
under the Exchange Act as in effect on the date hereof), directly or indirectly, of more than 50% of the total voting power of all classes then outstanding of the Company’s voting stock. 

“Closing” is defined in Section 3.1. 

“Closing Guarantors” is defined in Section 2. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time. 
 “Company” is defined in the first paragraph of this
Agreement. 
 “Confidential Information” is defined in Section 20. 

  
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 “Consolidated Net Worth” means the stockholders’ equity of the
Company and its Subsidiaries determined on a consolidated basis in accordance with GAAP. 
 “Consolidated Total
Assets” means the total assets of the Company and its Subsidiaries determined on a consolidated basis in accordance with GAAP. 

“Consolidated Total Net Debt” means, as of any date of determination, the excess, if any, of (a) the aggregate
principal amount of the types of Indebtedness described in clauses (a), (b), (d), (e) and (g) of the definition of “Indebtedness” of the Company and its Subsidiaries and, without duplication, Contingent Obligations of the Company
and its Subsidiaries in respect of such Indebtedness of other Persons over (b) the Unrestricted Domestic Cash Amount as of such date. 

“Contingent Obligation”, as applied to any Person, means any Contractual Obligation, contingent or otherwise,
providing for the guaranty of, or having the same economic effect as providing a guaranty of, any Indebtedness of another or other obligation or liability of another, including, without limitation, any such Indebtedness, obligation or liability of
another directly or indirectly guarantied, endorsed (otherwise than for collection or deposit in the ordinary course of business), co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly
or indirectly liable, including Contractual Obligations (contingent or otherwise) arising through any agreement to purchase, repurchase, or otherwise acquire such Indebtedness, obligation or liability or any security therefor, or to provide funds
for the payment or discharge thereof (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, or other financial condition, or to make payment other than for
value received. The amount of any Contingent Obligation shall be equal to the amount of the obligation so guarantied or otherwise supported in the case of known or recurring obligations and, in all other cases, the maximum reasonably anticipated
liability in respect of the portion of the obligation so guarantied or otherwise supported; provided that Contingent Obligations shall not include endorsements for collection in the ordinary course of business. 

“Contractual Obligation”, as applied to any Person, means any provision of any equity or debt securities issued by
that Person or any indenture, mortgage, deed of trust, security agreement, pledge agreement, guaranty, contract, undertaking, agreement or instrument, in any case in writing, to which that Person is a party or by which it or any of its properties is
bound, or to which it or any of its properties is subject. 
 “Control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

“Control Event” means: 

(a) the execution by the Company or any of its Subsidiaries or Affiliates of any agreement or letter of intent with respect to
any proposed transaction or event or series of transactions or events which, individually or in the aggregate, may reasonably be expected to result in a Change of Control, 

  
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 (b) the execution of any written agreement which, when fully performed by the
parties thereto, would result in a Change of Control, or 
 (c) the making of any written offer by any person (as such term
is used in Section 13(d) and Section 14(d)(2) of the Exchange Act as in effect on the date hereof) or persons constituting a group (as such term is used in Rule 13d-5 under the Exchange Act as in effect on the date hereof) to the holders
of the common stock of the Company, which offer, if accepted by the requisite number of holders, would result in a Change of Control. 

“Controlled Entity” means (a) any of the Subsidiaries of the Company and any of their or the Company’s
respective Controlled Affiliates and (b) if the Company has a parent company, such parent company and its Controlled Affiliates. 

“Debt Prepayment Application” means, with respect to any Transfer of property, the application by the Company of cash
in an amount equal to the Net Proceeds Amount with respect to such Transfer to pay Senior Indebtedness (other than (a) Indebtedness owing to the Company, any of the Company’s Subsidiaries or any Affiliate of the Company and
(b) Indebtedness in respect of any revolving credit or similar credit facility providing the Company or any of its Subsidiaries with the right to obtain loans or other extensions of credit from time to time, except to the extent that in
connection with such payment of Senior Indebtedness the availability of credit under such credit facility is permanently reduced by an amount not less than the amount of such proceeds applied to the payment of such Senior Indebtedness),
provided that in the course of making such application the Company shall offer to prepay each outstanding Note, in accordance with Section 8.4, in a principal amount which equals the Ratable Portion of such Note in respect
of such Transfer. If any holder of a Note rejects such offer of prepayment, then, for purposes of the preceding sentence only, the Company and the applicable Subsidiary nevertheless will be deemed to have paid Senior Indebtedness in an amount equal
to the Ratable Portion of the holder of such Note in respect of such Transfer. 
 “Debt Prepayment Transfer”
is defined in Section 8.4(a). 
 “Default” means an event or condition the occurrence or existence of which
would, with the lapse of time or the giving of notice or both, become an Event of Default. 
 “Default Rate”
means, with respect to any Note, that rate of interest that is the greater of (a) 2.00% per annum above the Applicable Rate with respect to such Note or (b) 2.00% per annum over the rate of interest publicly announced by JPMorgan Chase
Bank, N.A. in New York, New York as its “base” or “prime” rate. 
 “Disclosure Documents”
is defined in Section 5.3. 
 “Disposition Value” means, at any time, with respect to any property

 (a) in the case of property that does not constitute Subsidiary Equity Interests, the book value thereof, valued at
the time of such disposition in good faith by the Company, and 

  
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 (b) in the case of property that constitutes Subsidiary Equity Interests, an
amount equal to that percentage of book value of the assets of the Subsidiary that issued such equity interests as is equal to the percentage that the book value of such Subsidiary Equity Interests represents of the book value of all of the
outstanding equity interests of such Subsidiary (assuming, in making such calculations, that all Securities convertible into such equity interests are so converted and giving full effect to all transactions that would occur or be required in
connection with such conversion) determined at the time of the disposition thereof, in good faith by the Company. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible or for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or
prior to the date that is ninety-one (91) days after the maturity date of the Series of Notes with the latest maturity. 

“Dollars” or “$” means the lawful money of the United States of America. 

“EBITDA” means, for any period, on a consolidated basis for the Company and its Subsidiaries, the sum of the amounts
for such period, without duplication, of (a) Net Income, plus (b) Interest Expense to the extent deducted in computing Net Income, plus (c) charges against income for foreign, federal, state and local taxes to the extent
deducted in computing Net Income, plus (d) depreciation expense to the extent deducted in computing Net Income, plus (e) amortization expense, including, without limitation, amortization of goodwill and other intangible
assets to the extent deducted in computing Net Income, plus (f) any unusual non-cash charges to the extent deducted in computing Net Income, plus (g) non-cash stock based compensation paid during such period to the extent
deducted in computing Net Income plus (h) up to $5,000,000 per consecutive four fiscal quarter period in transaction fees, costs and expenses incurred in connection with the consummation of any acquisition permitted hereunder (or any
such acquisition proposed and not consummated); provided, that any such fees, costs or expenses are paid within six (6) months of the date incurred; provided further that this clause (h) shall only be effective at any time that each
Applicable Major Credit Facility includes such clause (and such clause is effective therein) and shall otherwise have no effect, plus (i) costs, charges, accruals, reserves or expenses attributable to the undertaking and/or
implementation of cost savings initiatives or operating expense reductions and similar initiatives, integration, transition, and other restructuring costs, charges, accruals, reserves and expenses (including costs related to the closure or
consolidation of facilities and curtailments, consulting and other professional fees, signing costs, retention or completion bonuses, executive recruiting costs, relocation expenses, severance payments and modifications to, or losses on settlement
of, pension and post-retirement employee benefit plans); provided that the aggregate amount included in EBITDA pursuant to this clause (i) during any period shall not exceed 10% of EBITDA in the aggregate for any consecutive four fiscal quarter
period calculated prior to giving effect to any adjustment pursuant to this clause (i); provided further that this clause (i) shall only be effective at any time that each Applicable Major Credit Facility includes such clause (and such clause
is effective therein) and shall otherwise have no effect, minus (j) any unusual non-cash gains to the extent added in computing Net Income. EBITDA shall be calculated on a pro forma basis giving effect to Material Acquisitions and
Material Asset Dispositions on a four (4)  

  
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fiscal quarter basis on the assumption that any such Material Acquisition or Material Asset Disposition shall be deemed to have occurred on the first day of the fourth full fiscal quarter
preceding the date of determination, using historical financial statements containing reasonable adjustments satisfactory to the Required Holders, broken down by fiscal quarter in the Company’s reasonable judgment. As used herein,
“Material Acquisition” means one or more related Acquisitions the net consideration for which is in excess of $20,000,000 individually or in the aggregate and “Material Asset Disposition” means any Asset Disposition
or series of Asset Dispositions the Fair Market Value of which is equal to or greater than $20,000,000 individually or in the aggregate. 

“Electronic Delivery” is defined in Section 7.1(a). 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment,
including but not limited to those related to Hazardous Materials. 
 “Equity Interests” means Capital Stock
and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and
regulations promulgated thereunder from time to time in effect. 
 “ERISA Affiliate” means any trade or
business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code. 

“Event of Default” is defined in Section 11. 

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

“Fair Market Value” means, at any time and with respect to any property, the sale value of such property that would be
realized in an arm’s-length sale at such time between an informed and willing buyer and an informed and willing seller (neither being under a compulsion to buy or sell). 

“FATCA” means (a) sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with), together with any current or future regulations or official interpretations thereof, (b) any treaty, law or regulation of any other
jurisdiction, or relating to an intergovernmental agreement between the United States of America and any other jurisdiction, which (in either case) facilitates the implementation of the foregoing clause (a), and (c) any agreements entered into
pursuant to section 1471(b)(1) of the Code. 
 “Fitch” means Fitch, Inc., together with its successors and
assigns. 

  
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 “Foreign Borrowing” is defined in Section 9.8(a). 

“Foreign Subsidiary” means any Subsidiary of the Company which is not organized under the laws of the United States of
America, any State thereof or the District of Columbia. 
 “Form 10-K” is defined in Section 7.1(b).

 “Form 10-Q” is defined in Section 7.1(a). 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States of
America. 
 “Governmental Authority” means 

(a) the government of 

(i) the United States of America or any State or other political subdivision thereof, or 

(ii) any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts
jurisdiction over any properties of the Company or any Subsidiary, or 
 (b) any entity exercising executive, legislative,
judicial, regulatory or administrative functions of, or pertaining to, any such government. 
 “Governmental
Official” means any governmental official or employee, employee of any foreign government-owned or controlled entity, political party, any official of a political party, candidate for political office, official of any foreign government,
public international organization or anyone else acting in an official capacity for a foreign government. 

“Guarantor” and “Guarantors” are defined in Section 2. 

“Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of
business of negotiable instruments for deposit or collection) of such Person guarantying or in effect guarantying any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without
limitation) obligations incurred through an agreement, contingent or otherwise, by such Person: 
 (a) to purchase
such indebtedness or obligation or any property constituting security therefor; 
 (b) to advance or supply funds
(i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available
funds for the purchase or payment of such indebtedness or obligation; 

  
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 (c) to lease properties or to purchase properties or services primarily for the
purpose of assuring the owner of such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 

(d) otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 

In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of
such Guaranty shall be assumed to be direct obligations of such obligor. 
 “Guaranty Agreement” is defined in
Section 2. 
 “Guaranty Supplement” is defined in Section 9.8(a). 

“Hazardous Material” means any and all pollutants, toxic or hazardous wastes or other substances that might pose a
hazard to health and safety, the removal of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release, discharge, spillage, seepage or
filtration of which is or shall be restricted, prohibited or penalized by any applicable law including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum products, lead based paint,
radon gas or similar restricted, prohibited or penalized substances. 
 “Hedging Arrangements” means
agreements, devices or arrangements designed to protect at least one of the parties thereto from the fluctuations of interest rates, commodity prices, exchange rates or forward rates applicable to such party’s assets, liabilities or exchange
transactions, including, but not limited to, dollar-denominated or cross-currency interest rate exchange agreements, forward currency exchange agreements, interest rate cap or collar protection agreements, forward rate currency or interest rate
options, puts and warrants or any similar derivative transactions. 
 “Hedging Obligations” of a Person means
any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any
and all Hedging Arrangements and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any Hedging Arrangements. 

“holder” means, with respect to any Note the Person in whose name such Note is registered in the register maintained
by the Company pursuant to Section 13.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 12, 17.2 and 18 and any related definitions in this Schedule B, “holder” shall mean the beneficial
owner of such Note whose name and address appears in such register. 
 “Indebtedness” of a Person means,
without duplication, such Person’s: 
 (a) obligations for borrowed money, including, without limitation,
subordinated indebtedness, 

  
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 (b) obligations representing the deferred purchase price of property or services
(other than accounts payable arising in the ordinary course of such Person’s business payable on terms customary in the trade and other than earn-outs or other similar forms of contingent purchase prices), 

(c) obligations, whether or not assumed, secured by Liens on or payable out of the proceeds or production from property or
assets now or hereafter owned or acquired by such Person, 
 (d) obligations which are evidenced by notes, acceptances, or
other instruments, 
 (e) Capital Lease Obligations, 

(f) Contingent Obligations with respect to the Indebtedness of other Persons, 

(g) obligations with respect to letters of credit, 

(h) Off-Balance Sheet Liabilities, 

(i) Receivables Facility Attributed Indebtedness, 

(j) Disqualified Stock, and 

(k) net Hedging Obligations, calculated on a marked-to-market basis. 

The amount of Indebtedness of any Person at any date shall be without duplication (i) the outstanding balance at such date of all unconditional
obligations as described above and the maximum liability of any such Contingent Obligations at such date and (ii) in the case of Indebtedness of others secured by a Lien to which the property or assets owned or held by such Person is subject,
the lesser of the Fair Market Value at such date of any asset subject to a Lien securing the Indebtedness of others and the amount of the Indebtedness secured. 

“INHAM Exemption” is defined in Section 6.3(e). 

“Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with
one or more of its affiliates) more than 5% of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any
insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

“Intercreditor Agreement” is defined in Section 9.9. 

“Interest Expense” means, without duplication, for any period, the total interest expense of the Company and its
consolidated Subsidiaries, whether paid or accrued (including the interest component of Capital Leases, commitment, facility and letter of credit fees, Off-Balance Sheet  

  
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Liabilities and net payments or receipts (if any) pursuant to Hedging Arrangements relating to interest rate protection), all as determined in conformity with GAAP. 

“Leverage Ratio” is defined in Section 10.8. 

“Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance,
or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person
(including in the case of stock, stockholder agreements, voting trust agreements and all similar arrangements). 

“Major Credit Facility” means (a) the Revolving Facility, (b) the 2008 Note Purchase Agreement, (c) the
2009 Note Purchase Agreement, (d) the 2013 Note Purchase Agreement, (e) the 2016 Cross-Border Note Purchase Agreement, (f) the 2016 Note Purchase Agreement, and (g) any other credit, loan or borrowing facility or note purchase
agreement by the Company or any Subsidiary providing, in each case, for the incurrence of Senior Indebtedness in a principal amount equal to or greater than $75,000,000, in each case under clauses (a) through (g) as amended, restated,
supplemented or otherwise modified and together with increases, refinancings and replacements thereof. 
 “Make-Whole
Amount” is defined in Section 8.8. 
 “Material” means material in relation to the business,
operations, affairs, financial condition, assets, properties, or prospects of the Company and its Subsidiaries taken as a whole. 

“Material Acquisition Amount” means an amount equal to the greater of (a) $50,000,000 and (b) the applicable
dollar threshold amount for certain permitted acquisitions necessary to increase the leverage ratio applicable to the Company as set forth in the definition of “Leverage Ratio Increase Requirements” in the Revolving Facility. 

“Material Acquisition Period” means each period of four (4) consecutive fiscal quarters of the Company commencing
with the fiscal quarter in which one or more of the Company and any Subsidiary has consummated (a) one or more Acquisitions of equity interests in entities that become Subsidiaries upon such Acquisition or (b) one or more acquisitions from
an entity of a business or a brand, if the consideration paid for such Acquisitions under clause (a) and/or (b) (including, without limitation, Indebtedness of the new Subsidiary and, without duplication, any Indebtedness of such entity
that is assumed by any one or more of the Company and its Subsidiaries), taken together with the aggregate consideration (including assumed Indebtedness as aforesaid) paid for all other such Acquisitions consummated during the immediately preceding
three (3) fiscal quarters of the Company, is equal to or greater than the Material Acquisition Amount; provided that a new Material Acquisition Period may not be commenced until such time as at least two (2) complete consecutive fiscal
quarters have elapsed since the expiration of the last previous Material Acquisition Period. 
 “Material Adverse
Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, (b) the ability of the Company to perform its
obligations under this Agreement and the Notes, (c) the ability of any Guarantor to perform its respective obligations under the Guaranty Agreement, or (d) the validity or enforceability of this Agreement, the Notes or the Guaranty
Agreement. 

  
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 “Material Covenant” means any covenant or similar term contained in any
evidence of any Indebtedness in respect of or that contains provisions that are the same as or similar to (or address the same topic as) the covenants set forth in Sections 10.2, 10.3, 10.6, 10.7, 10.8, 10.9 or 10.10 or any other financial covenant
contained in such Indebtedness. 
 “Memorandum” is defined in Section 5.3. 

“Moody’s” means Moody’s Investors Service, Inc., together with its successors and assigns. 

“MPC Products” means MPC Products Corporation, an Illinois corporation. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section
4001(a)(3) of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners or any successor
thereto. 
 “Net Income” means, for any period, the net income (or loss) after taxes of the Company and its
Subsidiaries on a consolidated basis for such period taken as a single accounting period determined in conformity with GAAP. 

“Net Indebtedness” means, as of any date of determination, the excess, if any, of (a) Indebtedness of the Company
and its consolidated Subsidiaries as of such date over (b) the Unrestricted Domestic Cash Amount as of such date. 

“Net Proceeds Amount” means, with respect to any Transfer of any property by any Person, an amount equal to the
difference of 
 (a) the aggregate amount of the consideration (valued at the Fair Market Value of such consideration
at the time of the consummation of such Transfer) received by such Person in respect of such Transfer, minus 
 (b)
all taxes actually paid on account of such Transfer and all ordinary and reasonable out-of-pocket costs and expenses actually incurred by such Person in connection with such Transfer. 

“Non-U.S. Plan” means any plan, fund or other similar program that (a) is established or maintained outside the
United States of America by the Company or any Subsidiary primarily for the benefit of employees of the Company or one or more Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results
in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and (b) is not subject to ERISA or the Code. 

“Notes” is defined in Section 1. 

  
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 “OFAC” is defined in Section 5.16(a). 

“OFAC Listed Person” is defined in Section 5.16(a). 

“OFAC Sanctions Program” means any economic or trade sanction program that OFAC is responsible for administering and
enforcing. A list of OFAC Sanctions Programs may be found at http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx. 

“Off-Balance Sheet Liabilities” of a Person means (a) any Receivables Facility Attributed Indebtedness and
repurchase obligations or liabilities of such Person or any of its Subsidiaries with respect to Receivables or notes receivable sold by such Person or any of its Subsidiaries, (b) any liabilities of such Person or any of its Subsidiaries under
any sale and leaseback transactions which do not create liabilities on the consolidated balance sheet of such Person, (c) any liabilities of such Person or any of its Subsidiaries under any financing lease or Synthetic Lease transaction, or
(d) any obligations of such Person or any of its Subsidiaries arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which, in the case of the foregoing clauses (a) through
(d), does not constitute a liability on the consolidated balance sheets of such Person and its Subsidiaries. 

“Officer’s Certificate” means (a) with respect to the Company, a certificate of a Senior Financial Officer
or of any other officer of the Company whose responsibilities extend to the subject matter of such certificate and (b) with respect to any Guarantor, a certificate of any officer of such Guarantor whose responsibilities extend to the subject
matter of such certificate. 
 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined
in ERISA or any successor thereto. 
 “Permitted Liens” means the following: 

(a) Liens for taxes, assessments or other governmental charges which are not yet due and payable or the payment of which is not
at the time required by Section 9.4; 
 (b) any attachment or judgment Lien, unless the judgment it secures shall not,
within thirty (30) days after the entry thereof, have been discharged or execution thereof stayed pending appeal, or shall not have been discharged within thirty (30) days after the expiration of any such stay; 

(c) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen and other similar Liens, in each
case, incurred in the ordinary course of business for sums not yet due and payable; 
 (d) Liens (other than any Lien imposed
by ERISA) incidental to the normal conduct of the business of the Company or any Subsidiary or the ownership of its property which are not incurred or made in connection with the incurrence of Indebtedness and which do not, individually or in the
aggregate, materially impair the use of such property in the operation of the business of the Company and its Subsidiaries, taken as a whole, or the value of such property for the purposes of such business; 

  
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 (e) leases or subleases granted to others, easements, encroachments,
rights-of-way, licenses, reservations, covenants, utility easements, building restrictions, restrictions and other similar charges or encumbrances, in each case incidental to, and not interfering with, the ordinary conduct of the business of the
Company or any of its Subsidiaries, and which do not in the aggregate materially impair the use of such property in the operation of the business of the Company and its Subsidiaries, taken as a whole, or the value of such property for the purposes
of such business; 
 (f) minor survey exceptions and similar Liens, provided that such Liens do not, in the aggregate,
materially detract from the value of such property in the operation of the business of the Company and its Subsidiaries; 

(g) Liens on property or assets of the Company or any Subsidiary securing Indebtedness owing to the Company or another
Subsidiary; 
 (h) Liens existing on the date of this Agreement and reflected in Schedule 10.6; 

(i) any Liens existing on the property of a Person at the time such Person is merged into or consolidated with the Company or a
Subsidiary or its becoming a Subsidiary or at the time of a sale, lease or other disposition of the properties of a Person as an entirety to the Company or a Subsidiary, or any Lien existing on any property acquired by the Company or any Subsidiary
at the time such property is so acquired (whether or not the Indebtedness secured thereby shall have been assumed), provided that (w) such Liens were not incurred, extended or renewed in contemplation of such merger, consolidation or
acquisition of property, (x) each such Lien shall attach solely to the assets so acquired or purchased, (y) the aggregate principal amount of Indebtedness secured by such Liens is otherwise permitted by the terms of this Agreement, and
(z) the aggregate principal amount of Indebtedness secured by such Liens shall not exceed 100% of the Fair Market Value of the related property; 

(j) Liens incurred after the date of this Agreement on any property acquired, improved or constructed by the Company or a
Subsidiary and created contemporaneously with or within one hundred eighty (180) days of such acquisition, improvement or construction which secure all or any part of the purchase price or cost of construction or improvement of such property,
provided that (i) any such Lien shall extend solely to the item or items of such property (or improvement thereon) so acquired or constructed and, if required by the terms of the instrument originally creating such Lien, other property (or
improvement thereon) which is an improvement to or is acquired for specific use in connection with such acquired or constructed property (or improvement thereon) or which is real property being improved by such acquired or constructed property (or
improvement thereon), (ii) the aggregate principal amount of Indebtedness secured by such Lien and all other Indebtedness secured by any other Lien on such property or such improvement does not exceed in the aggregate 100% of the lesser of
(y) the cost of such property or improvement or (z) the Fair Market Value thereof at the time of incurrence, and (iii) all such Indebtedness is otherwise permitted by the terms of this Agreement; 

  
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 (k) Liens incurred pursuant to a Permitted Receivables Securitization program,
provided that such Permitted Receivables Securitization program is permitted pursuant to Section 10.11; 
 (l) Liens
(i) in favor of the holders of the Notes (or in favor of a collateral agent reasonably satisfactory to the Required Holders) created to secure the Indebtedness evidenced by this Agreement and the Notes pursuant to Section 9.8(c) and
(ii) granted to secure the Indebtedness evidenced by any Major Credit Facility, in each case under clauses (i) and (ii) in compliance with Section 9.9; and 

(m) any Lien renewing, extending or refunding any Lien permitted by clauses (h), (i) or (j) of this definition,
provided that (i) the principal amount of Indebtedness secured by such Lien immediately prior to such extension, renewal or refunding is not increased or the maturity thereof reduced, (ii) such Lien is not extended to any other property,
and (iii) immediately after such extension, renewal or refunding no Default or Event of Default would exist. 

“Permitted Receivables Securitization” means a financing program providing for the sale or transfer of accounts
receivable (and related assets) by the Company and its Subsidiaries, in transactions purporting to be sales (and treated as sales for GAAP purposes), to one or more limited purpose financing companies, special purpose entities and/or other financial
institutions, in each case, on a limited recourse basis as to the Company and its Subsidiaries (not inconsistent with treatment as a sale for GAAP purposes). 

“Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated
organization, business entity or Governmental Authority. 
 “Plan” means an “employee benefit plan”
(as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be
made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability. 

“Priority Debt” means (a) all unsecured Indebtedness of any Subsidiary other than Indebtedness permitted by
clauses (a) through (f), inclusive, of Section 10.10, and (b) Indebtedness of the Company or any Subsidiary secured by Liens other than Permitted Liens. 

“property” or “properties” means, unless otherwise specifically limited, real or personal property of any
kind, tangible or intangible, choate or inchoate. 
 “Property Reinvestment Application” means, with respect
to any Transfer of property, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by the Company or any Subsidiary of property of a similar nature (excluding, for the avoidance of doubt, cash
and Cash Equivalents), and of at least equivalent Fair Market Value to the property so Transferred, to be used in the ordinary course of business of such Person. 

“Proposed Prepayment Date” is defined in Section 8.3(b). 

  
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 “PTE” is defined in Section 6.3(a). 

“Purchaser” is defined in the first paragraph of this Agreement. 

“QPAM Exemption” is defined in Section 6.3(d). 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning
of such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Ratable Portion” means, in respect
of any holder of any Note and any Transfer contemplated by the definition of Debt Prepayment Application, an amount equal to the product of: 

(a) the Net Proceeds Amount being offered to be applied to the payment of Senior Indebtedness, multiplied by 

(b) a fraction, the numerator of which is the outstanding principal amount of such Note, and the denominator of which is the
aggregate outstanding principal amount of all Senior Indebtedness at the time of such Transfer determined on a consolidated basis in accordance with GAAP. 

“Receivable(s)” means and includes all of the Company’s and each Subsidiary’s presently existing and
hereafter arising or acquired accounts, accounts receivable, and all present and future rights of the Company or such Subsidiary to payment for goods sold or leased or for services rendered in the ordinary course of the Company’s or such
Subsidiary’s business (except those evidenced by instruments or chattel paper), whether or not they have been earned by performance, and all rights in any merchandise or goods which any of the same may represent, and all rights, title, security
and guaranties with respect to each of the foregoing, including, without limitation, any right of stoppage in transit. 

“Receivables Facility Attributed Indebtedness” means the amount of obligations outstanding under a receivables
purchase facility on any date of determination that would be characterized as principal if such facility were structured as a secured lending transaction rather than as a purchase. 

“Related Fund” means, with respect to any holder of any Note, any fund or entity that (a) invests in Securities
or bank loans, and (b) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Required Holders” means, at any time, the holders of greater than 50% in principal amount of the Notes at the time
outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). 
 “Responsible Officer”
means any Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion of this Agreement. 

“Revolving Facility” means that certain Credit Agreement, dated as of July 10, 2013, by and among the Company, as
a borrower, the foreign subsidiary borrowers from time to time  

  
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parties thereto, the institutions from time to time parties thereto as lenders, and Wells Fargo Bank, National Association, as administrative agent for itself and the other lenders, as amended by
that certain Amendment No. 1 to Credit Agreement dated as of April 28, 2015 and that certain Amendment No. 2 to Credit Agreement dated as of March 30, 2018 and as such agreement may be further amended, restated, supplemented,
modified, refinanced, extended or replaced. 
 “S&P” means S&P Global Ratings, together with its successors
and assigns. 
 “SEC” means the Securities and Exchange Commission of the United States, or any successor
thereto. 
 “Second Amended and Restated Intercreditor Agreement” means that certain Second Amended and
Restated Intercreditor Agreement, dated as of July 10, 2013, by and among Wells Fargo Bank, National Association, as administrative agent for the lenders under the Revolving Facility, the holders of the notes issued pursuant to the 2008 Note
Purchase Agreement, the holders of the notes issued pursuant to the 2009 Note Purchase Agreement, the holders of the notes issued pursuant to the 2013 Note Purchase Agreement, the holders of the notes issued pursuant to the 2016 Note Purchase
Agreement, the holders of the notes issued pursuant to the 2016 Cross-Border Note Purchase Agreement, and each new creditor from time to time party thereto, as such agreement may be further amended, restated, supplemented, modified, refinanced,
extended or replaced. 
 “Securities” or “Security” shall have the meaning specified in
Section 2(a)(1) of the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as amended
from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

“Securitization Assets” means all accounts receivable, general intangibles, instruments, documents, chattel paper and
investment property (whether now existing or arising in the future) of the Company or any of its Subsidiaries which are sold or transferred pursuant to a Permitted Receivables Securitization, and any assets related thereto, including without
limitation (a) all such assets constituting collateral given by any of the foregoing, (b) all such assets constituting contracts and all guaranties (but not by the Company or any of its Subsidiaries) or other obligations directly related
to any of the foregoing, (c) other related assets set forth in the Securitization Documents, and (d) proceeds of all of the foregoing. 

“Securitization Documents” means all documentation relating to any Permitted Receivables Securitization. 

“Senior Financial Officer” means the chief financial officer, principal accounting officer, treasurer or comptroller
of the Company. 
 “Senior Indebtedness” means all Indebtedness evidenced by the Notes and all other
Indebtedness of the Company or its Subsidiaries for money borrowed ranking pari passu or senior in right of payment with the Indebtedness evidenced by the Notes and the Guaranty Agreement. 

  
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 “Series” means any Series of Notes issued under this Agreement.

 “Series P Notes” is defined in Section 1. 

“Series Q Notes” is defined in Section 1. 

“Series R Notes” is defined in Section 1. 

“Series S Notes” is defined in Section 1. 

“Series T Notes” is defined in Section 1. 

“Significant Subsidiary” means at any time any Subsidiary that would at such time constitute a “significant
subsidiary” (as such term is defined in Regulation S-X of the SEC as in effect on the date hereof) of the Company. 

“Source” is defined in Section 6.3. 

“Static GAAP” is defined in Section 22.3(b). 

“Subsequent Changes” is defined in Section 22.3(b). 

“Subsidiary” means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries
or such first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar
functions) of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and one or more of its
Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to
a “Subsidiary” is a reference to a Subsidiary of the Company. 
 “Subsidiary Equity Interests”
means, with respect to any Person, the Capital Stock (or any options or warrants to purchase capital stock or similar equity interests or other Securities exchangeable for or convertible into Capital Stock) of any Subsidiary of such Person.

 “SVO” means the Securities Valuation Office of the NAIC or any successor to such Office. 

“Synthetic Lease” means, at any time, any lease (including leases that may be terminated by the lessee at any time) of
any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under
which such Person is the lessor. 
 “Transfer” means, with respect to any Person, any transaction in which
such Person sells, conveys, transfers or leases (as lessor) any of its property, including, without limitation,  

  
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Subsidiary Equity Interests. For purposes of determining the application of the Net Proceeds Amount in respect of any Transfer, the Company may designate any Transfer as one or more separate
Transfers each yielding a separate Net Proceeds Amount; in any such case, the Disposition Value of any property subject to each such separate Transfer shall be determined by ratably allocating the aggregate Disposition Value of all property subject
to such separate Transfers to each such separate Transfer on a proportionate basis. 
 “Transfer Prepayment Date” is
defined in Section 8.4(a). 
 “Transfer Prepayment Offer” is defined in Section 8.4(a). 

“2008 Note Purchase Agreement” means that certain Note Purchase Agreement, dated as of October 1, 2008, by and
among the Company and the purchasers listed in Schedule A attached thereto, as amended by that certain Amendment No. 1 to Note Purchase Agreement dated as of October 1, 2013 and as such agreement may be further amended, restated,
supplemented, modified, refinanced, extended or replaced. 
 “2009 Note Purchase Agreement” means that
certain Note Purchase Agreement, dated as of April 3, 2009, by and among the Company and the purchasers listed in Schedule A attached thereto, as amended by that certain Amendment No. 1 to Note Purchase Agreement dated as of
October 1, 2013 and as such agreement may be further amended, restated, supplemented, modified, refinanced, extended or replaced. 

“2013 Note Purchase Agreement” means that certain Note Purchase Agreement, dated October 1, 2013, by and among
the Company and the purchasers listed in Schedule A attached thereto, as amended by that certain Amendment No. 1 to Note Purchase Agreement dated as of May 31, 2018 and as such agreement may be further amended, restated, supplemented,
modified, refinanced, extended or replaced. 
 “2016 Cross-Border Note Purchase Agreement” means that certain
Note Purchase Agreement, dated September 23, 2016, by and among the Company, Woodward International Holding B.V. and the purchasers listed in Schedule A attached thereto, as amended by that certain Amendment No. 1 to Note Purchase
Agreement dated as of May 31, 2018 and as such agreement may be further amended, restated, supplemented, modified, refinanced, extended or replaced. 

“2016 Note Purchase Agreement” means that certain Note Purchase Agreement, dated September 23, 2016, by and among
the Company and the purchasers listed in Schedule A attached thereto, as amended by that certain Amendment No. 1 to Note Purchase Agreement dated as of May 31, 2018 and as such agreement may be further amended, restated, supplemented,
modified, refinanced, extended or replaced. 
 “Undisclosed Affiliate” means, at any time and with respect to the
Company, any Person (a) that beneficially owns or holds, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or (b) that is an Affiliate of any such Person; provided that, at such time, (i) in
the case of clause (a), such Person shall not have given written notice to the Company of its 10% or greater holding in the Company and, in the case of clause (b), such Affiliate of such Person shall not have given the Company written notice of its
affiliation to the Company and (ii) the Company shall not otherwise have knowledge of such holding or affiliation to the Company. 

  
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 “Unrestricted Domestic Cash Amount” means, as of any date of
determination, that portion of the Company’s and its consolidated Subsidiaries’ aggregate cash and Cash Equivalents in excess of $10,000,000 that is (a) on deposit with one or more lenders under any Major Credit Facility in the United
States of America and (b) not encumbered by or subject to any Lien (including, without limitation, any Lien permitted hereunder), setoff (other than (x) common law rights of setoff to the extent such cash and Cash Equivalents are subject
to an intercreditor agreement as to the sharing of recoveries and setoffs in form and substance reasonably satisfactory to the Required Holders (it being acknowledged and agreed that, to the extent any cash and Cash Equivalents of the Company or any
Subsidiary are subject to the agreements as to the sharing of recoveries and setoffs set forth in the Second Amended and Restated Intercreditor Agreement and the Company or such Subsidiary, each holder and the relevant depository bank are parties
thereto, such cash and Cash Equivalents will not be excluded from the Unrestricted Domestic Cash Amount as a result of the existence of such setoff rights) and (y) ordinary course setoff rights of a depository bank arising under a bank
depository agreement for customary fees, charges and other account-related expenses due to such depository bank thereunder), counterclaim, recoupment, defense or other right in favor of any Person; provided, however, that
notwithstanding the actual amount of the Unrestricted Domestic Cash Amount, no more than $20,000,000 of the Unrestricted Domestic Cash Amount may be deducted in the calculation of Net Indebtedness or Consolidated Total Net Debt. 

“U.S. Economic Sanctions” is defined in Section 5.16(a). 

“USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

“Wholly-Owned Subsidiary” means, at any time, any Subsidiary one hundred percent of the equity interests (except
directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries at such time. 

“Woodward FST” means Woodward FST, Inc., a Delaware corporation. 

“Woodward HRT” means Woodward HRT, Inc., a Delaware corporation. 

  
 20 

Table of Contents

 Exhibit 1(a) 

[FORM OF SERIES P SENIOR NOTE] 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE SECURITIES OR
“BLUE SKY” LAWS OF ANY STATE OR FOREIGN JURISDICTION. THIS NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED, EXCEPT IN ACCORDANCE WITH AND
SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE NOTE PURCHASE AGREEMENT (AS DEFINED BELOW) AND PURSUANT TO (A) A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE THAT IS EFFECTIVE UNDER THE SECURITIES ACT, (B) RULE 144 UNDER THE SECURITIES
ACT OR (C) ANY OTHER EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. 
 WOODWARD, INC.

 SERIES P SENIOR NOTE DUE MAY 30, 2025 

 

	 No. RP-[            ] 
	[Date] 

	 $[            ] 
	PPN: 980745 F@7 

 For Value Received, the undersigned, WOODWARD, INC. (herein called the
“Company”), a Delaware corporation, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] DOLLARS ($[            ]) (or so much thereof as shall not have been prepaid) on
May 30, 2025 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Applicable Rate (as defined in the Note Purchase Agreement
referred to below) with respect to this Note from the date hereof, payable semiannually, on the 30th day of May and November in each year, commencing with the May 30 or November 30 next succeeding the date hereof, and on the Maturity Date,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of
any Make-Whole Amount, at a rate per annum from time to time equal to the applicable Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America. In each case, payments on this Note are to be made at the principal office of Bank of America, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as
provided in the Note Purchase Agreement referred to below. 
 This Note is one of a series of Series P Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase Agreement, dated May 31, 2018 (as from time to time amended, restated, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and
the respective Purchasers named therein and is entitled to the benefits thereof, and 

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guarantied pursuant to that certain Guaranty Agreement, dated as of May 31, 2018, by Woodward FST, MPC Products, Woodward HRT and the other Guarantors party thereto, as from time to time
amended. Each holder of this Note will be deemed, by its acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (b) made the representation set forth in
Section 6.3 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of
this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	WOODWARD, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 2 

Table of Contents

 Exhibit 1(b) 

[FORM OF SERIES Q SENIOR NOTE] 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE SECURITIES OR
“BLUE SKY” LAWS OF ANY STATE OR FOREIGN JURISDICTION. THIS NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED, EXCEPT IN ACCORDANCE WITH AND
SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE NOTE PURCHASE AGREEMENT (AS DEFINED BELOW) AND PURSUANT TO (A) A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE THAT IS EFFECTIVE UNDER THE SECURITIES ACT, (B) RULE 144 UNDER THE SECURITIES
ACT OR (C) ANY OTHER EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. 
 WOODWARD, INC.

 SERIES Q SENIOR NOTE DUE MAY 30, 2027 

 

	 No. RQ-[            ] 
	[Date] 

	 $[            ] 
	PPN: 980745 F#5 

 For Value Received, the undersigned, WOODWARD, INC. (herein called the
“Company”), a Delaware corporation, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] DOLLARS ($[            ]) (or so much thereof as shall not have been prepaid) on
May 30, 2027 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Applicable Rate (as defined in the Note Purchase Agreement
referred to below) with respect to this Note from the date hereof, payable semiannually, on the 30th day of May and November in each year, commencing with the May 30 or November 30 next succeeding the date hereof, and on the Maturity Date,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of
any Make-Whole Amount, at a rate per annum from time to time equal to the applicable Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America. In each case, payments on this Note are to be made at the principal office of Bank of America, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as
provided in the Note Purchase Agreement referred to below. 
 This Note is one of a series of Series Q Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase Agreement, dated May 31, 2018 (as from time to time amended, restated, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and
the respective Purchasers named therein and is entitled to the benefits thereof, and 

Table of Contents

 
guarantied pursuant to that certain Guaranty Agreement, dated as of May 31, 2018, by Woodward FST, MPC Products, Woodward HRT and the other Guarantors party thereto, as from time to time
amended. Each holder of this Note will be deemed, by its acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (b) made the representation set forth in
Section 6.3 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of
this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	WOODWARD, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 2 

Table of Contents

 Exhibit 1(c) 

[FORM OF SERIES R SENIOR NOTE] 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE SECURITIES OR
“BLUE SKY” LAWS OF ANY STATE OR FOREIGN JURISDICTION. THIS NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED, EXCEPT IN ACCORDANCE WITH AND
SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE NOTE PURCHASE AGREEMENT (AS DEFINED BELOW) AND PURSUANT TO (A) A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE THAT IS EFFECTIVE UNDER THE SECURITIES ACT, (B) RULE 144 UNDER THE SECURITIES
ACT OR (C) ANY OTHER EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. 
 WOODWARD, INC.

 SERIES R SENIOR NOTE DUE MAY 30, 2029 

 

	 No. RR-[            ] 
	[Date] 

	 $[            ] 
	PPN: 980745 G*8 

 For Value Received, the undersigned, WOODWARD, INC. (herein called the
“Company”), a Delaware corporation, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] DOLLARS ($[            ]) (or so much thereof as shall not have been prepaid) on
May 30, 2029 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Applicable Rate (as defined in the Note Purchase Agreement
referred to below) with respect to this Note from the date hereof, payable semiannually, on the 30th day of May and November in each year, commencing with the May 30 or November 30 next succeeding the date hereof, and on the Maturity Date,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of
any Make-Whole Amount, at a rate per annum from time to time equal to the applicable Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America. In each case, payments on this Note are to be made at the principal office of Bank of America, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as
provided in the Note Purchase Agreement referred to below. 
 This Note is one of a series of Series R Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase Agreement, dated May 31, 2018 (as from time to time amended, restated, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and
the respective Purchasers named therein and is entitled to the benefits thereof, and 

Table of Contents

 
guarantied pursuant to that certain Guaranty Agreement, dated as of May 31, 2018, by Woodward FST, MPC Products, Woodward HRT and the other Guarantors party thereto, as from time to time
amended. Each holder of this Note will be deemed, by its acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (b) made the representation set forth in
Section 6.3 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of
this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	WOODWARD, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 2 

Table of Contents

 Exhibit 1(d) 

[FORM OF SERIES S SENIOR NOTE] 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE SECURITIES OR
“BLUE SKY” LAWS OF ANY STATE OR FOREIGN JURISDICTION. THIS NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED, EXCEPT IN ACCORDANCE WITH AND
SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE NOTE PURCHASE AGREEMENT (AS DEFINED BELOW) AND PURSUANT TO (A) A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE THAT IS EFFECTIVE UNDER THE SECURITIES ACT, (B) RULE 144 UNDER THE SECURITIES
ACT OR (C) ANY OTHER EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. 
 WOODWARD, INC.

 SERIES S SENIOR NOTE DUE MAY 30, 2030 

 

	 No. RS-[            ] 
	[Date] 

	 $[            ] 
	PPN: 980745 G@6 

 For Value Received, the undersigned, WOODWARD, INC. (herein called the
“Company”), a Delaware corporation, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] DOLLARS ($[            ]) (or so much thereof as shall not have been prepaid) on
May 30, 2030 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Applicable Rate (as defined in the Note Purchase Agreement
referred to below) with respect to this Note from the date hereof, payable semiannually, on the 30th day of May and November in each year, commencing with the May 30 or November 30 next succeeding the date hereof, and on the Maturity Date,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of
any Make-Whole Amount, at a rate per annum from time to time equal to the applicable Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America. In each case, payments on this Note are to be made at the principal office of Bank of America, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as
provided in the Note Purchase Agreement referred to below. 
 This Note is one of a series of Series S Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase Agreement, dated May 31, 2018 (as from time to time amended, restated, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and
the respective Purchasers named therein and is entitled to the benefits thereof, and 

Table of Contents

 
guarantied pursuant to that certain Guaranty Agreement, dated as of May 31, 2018, by Woodward FST, MPC Products, Woodward HRT and the other Guarantors party thereto, as from time to time
amended. Each holder of this Note will be deemed, by its acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (b) made the representation set forth in
Section 6.3 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of
this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	WOODWARD, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 2 

Table of Contents

 Exhibit 1(e) 

[FORM OF SERIES T SENIOR NOTE] 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE SECURITIES OR
“BLUE SKY” LAWS OF ANY STATE OR FOREIGN JURISDICTION. THIS NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE ASSIGNED, EXCEPT IN ACCORDANCE WITH AND
SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE NOTE PURCHASE AGREEMENT (AS DEFINED BELOW) AND PURSUANT TO (A) A REGISTRATION STATEMENT WITH RESPECT TO THIS NOTE THAT IS EFFECTIVE UNDER THE SECURITIES ACT, (B) RULE 144 UNDER THE SECURITIES
ACT OR (C) ANY OTHER EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. 
 WOODWARD, INC.

 SERIES T SENIOR NOTE DUE MAY 30, 2033 

 

	 No. RT-[            ] 
	[Date] 

	 $[            ] 
	PPN: 980745 G#4 

 For Value Received, the undersigned, WOODWARD, INC. (herein called the
“Company”), a Delaware corporation, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] DOLLARS ($[            ]) (or so much thereof as shall not have been prepaid) on
May 30, 2033 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the Applicable Rate (as defined in the Note Purchase Agreement
referred to below) with respect to this Note from the date hereof, payable semiannually, on the 30th day of May and November in each year, commencing with the May 30 or November 30 next succeeding the date hereof, and on the Maturity Date,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of
any Make-Whole Amount, at a rate per annum from time to time equal to the applicable Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America. In each case, payments on this Note are to be made at the principal office of Bank of America, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as
provided in the Note Purchase Agreement referred to below. 
 This Note is one of a series of Series T Senior Notes (herein called the
“Notes”) issued pursuant to the Note Purchase Agreement, dated May 31, 2018 (as from time to time amended, restated, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and
the respective Purchasers named therein and is entitled to the benefits thereof, and 

Table of Contents

 
guarantied pursuant to that certain Guaranty Agreement, dated as of May 31, 2018, by Woodward FST, MPC Products, Woodward HRT and the other Guarantors party thereto, as from time to time
amended. Each holder of this Note will be deemed, by its acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (b) made the representation set forth in
Section 6.3 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of
this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	WOODWARD, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 2 

Table of Contents

 Exhibit 2 

FORM OF GUARANTY AGREEMENT 

[Intentionally removed] 

Table of Contents

 Exhibit 4.5(a) 

FORM OF OPINION OF SPECIAL COUNSEL 

FOR THE COMPANY AND THE CLOSING
GUARANTORS 
 [Intentionally removed] 

Table of Contents

 Exhibit 4.5(b) 

FORM OF OPINION OF SPECIAL COUNSEL
FOR THE PURCHASERS 
 [Intentionally removed]

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